Nova Financial & Investment Corporation Mortgage Rates, Fees & Info

TUCSON, AZ

LEI: 549300HIVO8XPBPNVG69

Tax ID: 86-0415227

5 stars - out of 5 stars, based on 155 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Nova Financial & Investment Corporation is a mid-sized mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Nova Financial & Investment Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Phoenix, Tucson, Denver, Yuma, and Las Vegas among others. We have data for 143 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Nova Financial & Investment Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Nova Financial & Investment Corporation is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.66% 1/25/23
    30 Year Conventional Refi 6.45% 1/25/23
    30 Year Cash-out Refi 6.71% 1/25/23
    30 Year FHA Purchase 7.66% 1/25/23
    30 Year FHA Refi 7.17% 1/25/23
    30 Year VA Purchase 6.34% 1/25/23
    30 Year VA Refi 5.97% 1/25/23
    30 Year USDA Purchase 6.77% 1/25/23
    30 Year USDA Refi 6.51% 1/25/23
    15 Year Conventional Purchase 6.06% 1/25/23
    15 Year Conventional Refi 5.93% 1/25/23
    15 Year Cash-out Refi 5.93% 1/25/23
    15 Year FHA Purchase 5.68% 1/25/23
    15 Year FHA Refi 6.75% 1/25/23
    15 Year VA Purchase 6.35% 1/25/23
    15 Year VA Refi 5.84% 1/25/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    24,138

    Origination Dollar Volume (All Markets)

    $6,718,940,000
    Show all (44) awards

    Relative Rate

    Nova Financial & Investment Corporation's average 30 year fixed mortgage rate was 3.13%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.02%.

    Relative Fees (Closing Costs)

    Nova Financial & Investment Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $3,691.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7,565 $2,209,385,000 $292,054 $4,145 3.13%
    TUCSON, AZ (FHA|USDA|VA) 7,791 $1,807,265,000 $231,968 $3,125 3.04%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2,321 $900,315,000 $387,900 $2,265 2.95%
    YUMA, AZ (FHA|USDA|VA) 1,797 $340,105,000 $189,263 $3,647 3.05%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1,019 $293,885,000 $288,405 $4,339 3.08%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 508 $278,290,000 $547,815 $2,158 2.94%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 903 $186,495,000 $206,528 $3,759 3.00%
    FLAGSTAFF, AZ (FHA|USDA|VA) 176 $62,470,000 $354,943 $3,772 3.12%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 109 $60,625,000 $556,193 $3,110 3.05%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 190 $54,040,000 $284,421 $3,877 3.16%
    Outside of Metro Areas 181 $47,455,000 $262,182 $2,962 3.03%
    BOULDER, CO (FHA|USDA|VA) 110 $45,210,000 $411,000 $2,586 3.03%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 210 $44,390,000 $211,381 $4,120 3.28%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 127 $40,515,000 $319,016 $3,186 2.93%
    GREELEY, CO (FHA|USDA|VA) 97 $32,005,000 $329,948 $2,647 3.01%
    Safford, AZ (FHA|USDA|VA) 119 $24,635,000 $207,017 $3,879 3.04%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 26 $22,660,000 $871,538 $2,869 2.82%
    FORT COLLINS, CO (FHA|USDA|VA) 72 $22,440,000 $311,667 $2,511 2.92%
    Nogales, AZ (FHA|USDA|VA) 103 $21,775,000 $211,408 $3,736 3.03%
    Show Low, AZ (FHA|USDA|VA) 85 $20,465,000 $240,765 $3,470 3.16%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 70 $19,360,000 $276,571 $5,115 3.02%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 56 $17,830,000 $318,393 $2,769 3.02%
    Breckenridge, CO (FHA|USDA|VA) 21 $11,225,000 $534,524 $3,263 3.22%
    Payson, AZ (FHA|USDA|VA) 45 $10,515,000 $233,667 $3,775 3.15%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 20 $9,810,000 $490,500 $3,106 3.10%
    Edwards, CO (FHA|USDA|VA) 16 $9,600,000 $600,000 $2,199 2.91%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 30 $9,390,000 $313,000 $4,466 3.04%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 32 $9,310,000 $290,938 $2,722 2.80%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 14 $8,620,000 $615,714 $3,336 2.90%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 14 $4,420,000 $315,714 $4,593 3.02%
    RENO, NV (FHA|USDA|VA) 12 $4,130,000 $344,167 $2,856 3.07%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $3,585,000 $717,000 $3,845 2.88%
    ALBUQUERQUE, NM (FHA|USDA|VA) 14 $3,340,000 $238,571 $3,656 3.17%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 9 $3,335,000 $370,556 $4,750 2.81%
    Pahrump, NV (FHA|USDA|VA) 14 $3,100,000 $221,429 $5,390 3.14%
    PUEBLO, CO (FHA|USDA|VA) 9 $2,975,000 $330,556 $4,088 3.00%
    SALINAS, CA (FHA|USDA|VA) 7 $2,575,000 $367,857 $4,775 3.03%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 5 $2,515,000 $503,000 $2,136 3.08%
    Heber, UT (FHA|USDA|VA) 3 $2,225,000 $741,667 $3,561 3.08%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,060,000 $343,333 $1,741 3.06%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 7 $2,025,000 $289,286 $4,333 3.20%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 6 $1,790,000 $298,333 $4,522 3.33%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $1,690,000 $422,500 $1,720 3.25%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $1,670,000 $835,000 $1,545 3.00%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 7 $1,565,000 $223,571 $4,847 3.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $1,560,000 $780,000 $9,993 2.56%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,555,000 $311,000 $2,344 2.85%
    Cañon City, CO (FHA|USDA|VA) 4 $1,480,000 $370,000 $2,247 2.88%
    YUBA CITY, CA (FHA|USDA|VA) 4 $1,470,000 $367,500 $3,339 2.87%
    EL CENTRO, CA (FHA|USDA|VA) 7 $1,465,000 $209,286 $2,779 2.99%
    Durango, CO (FHA|USDA|VA) 4 $1,440,000 $360,000 $6,715 3.03%
    BAKERSFIELD, CA (FHA|USDA|VA) 5 $1,335,000 $267,000 $3,259 3.07%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $1,235,000 $411,667 $2,602 3.04%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,220,000 $610,000 $3,040 3.31%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,195,000 $239,000 $4,508 3.32%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,165,000 $388,333 $2,279 2.92%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 4 $1,120,000 $280,000 $1,604 3.16%
    WACO, TX (FHA|USDA|VA) 3 $1,105,000 $368,333 $4,448 3.00%
    Montrose, CO (FHA|USDA|VA) 5 $1,085,000 $217,000 $2,515 2.58%
    LAS CRUCES, NM (FHA|USDA|VA) 6 $1,070,000 $178,333 $3,167 3.12%
    Alamogordo, NM (FHA|USDA|VA) 5 $1,065,000 $213,000 $2,729 3.35%
    Silver City, NM (FHA|USDA|VA) 7 $1,015,000 $145,000 $3,452 3.05%
    GRAND JUNCTION, CO (FHA|USDA|VA) 4 $1,000,000 $250,000 $2,415 2.97%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $995,000 $995,000 $12,581 3.00%
    Newport, OR (FHA|USDA|VA) 3 $995,000 $331,667 $4,219 3.00%
    BEND, OR (FHA|USDA|VA) 4 $990,000 $247,500 $4,020 3.22%
    Del Rio, TX (FHA|USDA|VA) 4 $900,000 $225,000 $7,772 3.19%
    MODESTO, CA (FHA|USDA|VA) 3 $885,000 $295,000 $3,041 2.67%
    Cedar City, UT (FHA|USDA|VA) 2 $880,000 $440,000 $3,309 2.81%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $850,000 $212,500 $3,750 3.06%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $820,000 $410,000 $4,586 3.31%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $780,000 $390,000 $4,312 3.12%
    MADERA, CA (FHA|USDA|VA) 2 $780,000 $390,000 $8,289 3.25%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $710,000 $355,000 $3,816 2.69%
    VISALIA, CA (FHA|USDA|VA) 3 $665,000 $221,667 $2,063 3.16%
    MEDFORD, OR (FHA|USDA|VA) 2 $660,000 $330,000 $2,454 2.94%
    AMARILLO, TX (FHA|USDA|VA) 2 $630,000 $315,000 $3,608 3.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 2 $610,000 $305,000 $3,453 3.13%
    Eureka-Arcata, CA (FHA|USDA|VA) 2 $610,000 $305,000 $1,300 2.69%
    Taos, NM (FHA|USDA|VA) 2 $570,000 $285,000 $3,203 3.38%
    STOCKTON, CA (FHA|USDA|VA) 2 $550,000 $275,000 $6,648 3.44%
    Red Bluff, CA (FHA|USDA|VA) 2 $550,000 $275,000 $5,713 2.81%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $545,000 $545,000 $2,776 3.38%
    Arcadia, FL (FHA|USDA|VA) 3 $535,000 $178,333 $2,521 3.25%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $535,000 $535,000 $2,846 2.63%
    MERCED, CA (FHA|USDA|VA) 3 $525,000 $175,000 $2,642 3.04%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $495,000 $495,000 $1,290 3.88%
    FRESNO, CA (FHA|USDA|VA) 2 $490,000 $245,000 $2,481 2.69%
    Fort Morgan, CO (FHA|USDA|VA) 2 $480,000 $240,000 $3,025 2.94%
    Glenwood Springs, CO (FHA|USDA|VA) 2 $480,000 $240,000 $2,654 3.38%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $475,000 $475,000 $1,039 2.99%
    ST. GEORGE, UT (FHA|USDA|VA) 2 $470,000 $235,000 $2,102 2.87%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $460,000 $230,000 $3,506 3.44%
    EL PASO, TX (FHA|USDA|VA) 3 $455,000 $151,667 $3,212 3.32%
    Columbus, NE (FHA|USDA|VA) 2 $440,000 $220,000 $4,154 3.31%
    Coos Bay, OR (FHA|USDA|VA) 2 $440,000 $220,000 $4,347 3.06%
    Ellensburg, WA (FHA|USDA|VA) 1 $435,000 $435,000 $3,756 2.99%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $435,000 $435,000 $589 3.13%
    Rockport, TX (FHA|USDA|VA) 1 $425,000 $425,000 $4,216 2.75%
    LINCOLN, NE (FHA|USDA|VA) 1 $405,000 $405,000 $1,323 2.75%
    Centralia, WA (FHA|USDA|VA) 1 $405,000 $405,000 $3,639 3.63%
    WICHITA FALLS, TX (FHA|USDA|VA) 2 $400,000 $200,000 $1,626 3.00%
    TYLER, TX (FHA|USDA|VA) 1 $375,000 $375,000 $3,283 2.88%
    VALLEJO, CA (FHA|USDA|VA) 1 $375,000 $375,000 $3,433 2.63%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $375,000 $375,000 $3,173 2.25%
    Corsicana, TX (FHA|USDA|VA) 2 $370,000 $185,000 $4,063 3.37%
    CHICO, CA (FHA|USDA|VA) 1 $365,000 $365,000 $3,385 3.38%
    LUBBOCK, TX (FHA|USDA|VA) 1 $355,000 $355,000 $10,782 2.63%
    Roswell, NM (FHA|USDA|VA) 2 $350,000 $175,000 $3,792 3.19%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $345,000 $345,000 $3,065 2.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $3,401 3.49%
    REDDING, CA (FHA|USDA|VA) 1 $335,000 $335,000 $2,308 2.88%
    MUNCIE, IN (FHA|USDA|VA) 1 $315,000 $315,000 $1,225 3.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $295,000 $295,000 $3,599 2.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $285,000 $285,000 $1,730 3.13%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,844 2.88%
    Craig, CO (FHA|USDA|VA) 1 $275,000 $275,000 $8,193 3.00%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $275,000 $275,000 $10,575 3.00%
    The Dalles, OR (FHA|USDA|VA) 1 $245,000 $245,000 $2,780 2.88%
    North Platte, NE (FHA|USDA|VA) 1 $245,000 $245,000 $3,550 3.13%
    LONGVIEW, TX (FHA|USDA|VA) 1 $245,000 $245,000 $3,152 2.88%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,778 2.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,341 3.38%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $215,000 $215,000 $2,493 3.75%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,327 3.38%
    ODESSA, TX (FHA|USDA|VA) 1 $195,000 $195,000 $5,450 3.49%
    Winnemucca, NV (FHA|USDA|VA) 1 $195,000 $195,000 $3,173 3.38%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $2,978 2.88%
    Steamboat Springs, CO (FHA|USDA|VA) 1 $185,000 $185,000 $3,109 3.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,768 3.13%
    Elko, NV (FHA|USDA|VA) 1 $165,000 $165,000 $7,338 2.88%
    Ruidoso, NM (FHA|USDA|VA) 1 $165,000 $165,000 $3,410 2.63%
    Sterling, CO (FHA|USDA|VA) 1 $155,000 $155,000 $2,845 2.50%
    Hobbs, NM (FHA|USDA|VA) 1 $155,000 $155,000 $2,635 2.88%
    Plymouth, IN (FHA|USDA|VA) 1 $155,000 $155,000 $1,741 2.75%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $135,000 $135,000 $2,509 2.38%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $135,000 $135,000 $1,961 2.75%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,487 3.00%
    Port Angeles, WA (FHA|USDA|VA) 1 $105,000 $105,000 $2,294 2.49%
    PEORIA, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,593 2.99%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $85,000 $85,000 $1,289 2.99%
    SALEM, OR (FHA|USDA|VA) 1 $85,000 $85,000 $2,738 3.13%
    Fernley, NV (FHA|USDA|VA) 1 $75,000 $75,000 $2,801 2.88%
    Nova Financial & Investment Corporation's top markets include Phoenix, Tucson, Denver, Yuma, and Las Vegas among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against NOVA FINANCIAL & INVESTMENT CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 18,904 $5,262,790,000 $278,396 $2,624 3.06%
    FHA 2,965 $723,585,000 $244,042 $7,308 3.28%
    VA 2,075 $695,535,000 $335,198 $5,858 2.75%
    USDA 170 $32,180,000 $189,294 $4,262 2.91%
    FHA 24 $4,850,000 $202,083 $0 2.38%

    For 2021, Nova Financial & Investment Corporation's most frequently originated type of loan was Conventional, with 18,904 originations. Their 2nd most popular type was FHA, with 2,965 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 9,807 $3,015,745,000 $307,509 $5,012 3.17%
    Refi 8,270 $2,130,160,000 $257,577 $2,060 2.85%
    Cash Out Refi 6,061 $1,573,035,000 $259,534 $2,979 3.17%

    For 2021, Nova Financial & Investment Corporation's most frequently cited loan purpose was Home Purchase, with 9,807 originations. The 2nd most popular reason was Refi, with 8,270 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 20,799 $6,039,595,000 $290,379 $3,691 3.13%
    15 Year 2,234 $457,610,000 $204,839 $2,227 2.51%
    20 Year 688 $140,820,000 $204,680 $2,350 2.91%
    Other 261 $56,315,000 $215,766 $2,083 2.90%
    10 Year 136 $24,360,000 $179,118 $2,149 2.35%
    3 Year 20 $240,000 $12,000 $1 0.00%

    For 2021, Nova Financial & Investment Corporation's most frequently cited loan duration was 30 Year, with 20,799 originations. The 2nd most popular length was 15 Year, with 2,234 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 11,938 $3,541,960,000 $296,696
    $1k-2k 9,338 $2,299,570,000 $246,259
    $2k-3k 1,560 $430,220,000 $275,782
    $3k-4k 682 $210,630,000 $308,842
    $5k+ 315 $135,425,000 $429,921
    $4k-5k 270 $93,120,000 $344,889

    Nova Financial & Investment Corporation's average total fees were $3,691, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11,938 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 10,312 $2,775,870,000 $269,188
    2.5-3% 9,845 $2,923,545,000 $296,957
    <2.5% 3,046 $781,280,000 $256,494
    4-5% 917 $234,225,000 $255,425
    5-6% 18 $4,020,000 $223,333

    During 2021, Nova Financial & Investment Corporation's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 10,312 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 11,820 $3,341,750,000 $282,720 $4,022 3.14%
    $100k-200k 7,315 $1,134,445,000 $155,085 $2,645 3.04%
    $400k-600k 3,005 $1,446,905,000 $481,499 $3,678 3.01%
    $100,000 or less 1,183 $85,255,000 $72,067 $2,129 2.67%
    $600k-1MM 623 $454,395,000 $729,366 $4,319 2.91%
    $1MM+ 192 $256,190,000 $1,334,323 $5,628 2.79%

    2021 saw Nova Financial & Investment Corporation place emphasis on $200k-400k loans with 11,820 originations, totaling $3,341,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 6,223 $1,410,345,000 $226,634 $3,813 3.10%
    $100k-150k 4,527 $1,430,305,000 $315,950 $3,358 3.07%
    $75k-100k 4,431 $1,182,845,000 $266,948 $3,712 3.09%
    $50k or less 4,227 $704,085,000 $166,568 $3,366 3.07%
    $150k-250k 2,726 $1,078,100,000 $395,488 $3,194 3.04%
    $250k+ 1,219 $683,805,000 $560,956 $3,293 3.01%

    Nova Financial & Investment Corporation lent most frequently to those with incomes in the $50k-75k range, with 6,223 originations. The second most popular income band? $100k-150k, with 4,527 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 4,898 $1,368,350,000 $279,369 $2,801 2.99%
    30-36% 4,245 $1,190,915,000 $280,545 $3,260 3.08%
    <20% 2,571 $697,935,000 $271,464 $2,374 2.77%
    44% 1,143 $310,205,000 $271,395 $3,865 3.20%
    50-60% 1,023 $292,615,000 $286,036 $7,113 3.04%
    43% 994 $270,670,000 $272,304 $3,750 3.18%
    42% 960 $270,700,000 $281,979 $3,870 3.15%
    40% 901 $256,135,000 $284,279 $3,655 3.16%
    41% 873 $249,655,000 $285,974 $3,606 3.16%
    38% 870 $246,320,000 $283,126 $3,644 3.16%
    39% 844 $246,580,000 $292,156 $3,693 3.11%
    37% 807 $229,425,000 $284,294 $3,507 3.15%
    36% 804 $230,580,000 $286,791 $3,537 3.14%
    45% 741 $193,135,000 $260,641 $3,677 3.15%
    49% 707 $189,415,000 $267,914 $4,114 3.15%
    48% 584 $156,770,000 $268,442 $4,110 3.09%
    46% 567 $147,425,000 $260,009 $4,103 3.10%
    47% 550 $154,010,000 $280,018 $4,184 3.11%
    >60% 56 $18,100,000 $323,214 $6,601 2.70%

    Nova Financial & Investment Corporation lent most frequently to those with DTI ratios of 20-30%, with 4,898 originations. The next most common DTI ratio? 30-36%, with 4,245 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 20,958 $5,759,690,000 $274,821 $3,410 3.06%
    Not provided 1,697 $528,035,000 $311,158 $3,943 3.06%
    Asian 670 $201,790,000 $301,179 $3,615 3.06%
    Black 594 $172,240,000 $289,966 $4,603 3.11%
    American Indian 154 $39,550,000 $256,818 $4,449 3.14%
    Native Hawaiian or Islander 65 $17,635,000 $271,308 $3,690 3.07%

    Approval Rates

    Total approvals of all applications
    96.55%

    Nova Financial & Investment Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.48%

    Nova Financial & Investment Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 24,138 $6,718,940,000 $278,355

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    24,138 $6,718,940,000 $278,355

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,408 $245,040,000 $174,034 $2,155 2.85%
    40-60% 4,388 $1,079,250,000 $245,955 $2,181 2.90%
    60-80% 9,616 $2,817,720,000 $293,024 $2,815 3.13%
    80-100% 8,228 $2,465,490,000 $299,646 $4,956 3.16%
    Over 100% 261 $96,885,000 $371,207 $13,563 2.85%
    Under 20% 237 $14,555,000 $61,414 $961 1.34%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NOVA Financial Holding Company, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    NOVA Financial Holding Company, LLC FHA mortgage Closing on a mortgage 1 33.3%
    NOVA Financial Holding Company, LLC Other type of mortgage Closing on a mortgage 1 33.3%