Nova Financial & Investment Corporation Mortgage Rates, Fees & Info
TUCSON, AZLEI: 549300HIVO8XPBPNVG69
Tax ID: 86-0415227
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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. Their top markets include Phoenix, Tucson, Denver, Yuma, and Las Vegas among others. Nova Financial & Investment Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Nova Financial & Investment Corporation is typically an average fee lendor.Originations
24,138Origination Dollar Volume (All Markets)
$6,718,940,000Awards
NOVA FINANCIAL & INVESTMENT CORPORATION - 2021
NOVA FINANCIAL & INVESTMENT CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Nova Financial & Investment Corporation's average 30 year fixed rate mortgage of loans were
3.13%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.02%.
Relative Fees
Nova Financial & Investment Corporation's average total fees for a 30 year fixed rate
mortgage are $3,691.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| 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.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 18,904 | $5,262,790,000 | $278,396 | $2,624 | 3.06% |
| FHA | 2,989 | $728,435,000 | $243,705 | $7,308 | 3.27% |
| VA | 2,075 | $695,535,000 | $335,198 | $5,858 | 2.75% |
| USDA | 170 | $32,180,000 | $189,294 | $4,262 | 2.91% |
For the 2021 period, Nova Financial & Investment Corporation's most frequently originated loan type of loans were Conventional, with 18,904 originations. Their 2nd most popular type is FHA, with 2,989 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021, Nova Financial & Investment Corporation's most frequently cited loan purpose of loans were Home Purchase, with 9,807 originations. The 2nd most popular reason of loans were 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 the 2021, Nova Financial & Investment Corporation's most frequently cited loan length of loans were 30 Year, with 20,799 originations. The 2nd most popular length of loans were 15 Year, with 2,234 originations.
Origination Fees
| Origination Fee | 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 | 952 | $303,750,000 | $319,065 |
| $5k+ | 315 | $135,425,000 | $429,921 |
$3,691 of loans were Nova Financial & Investment Corporation's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.13%, while their most frequently originated rate bucket of loans were 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 | 65 | $17,635,000 | $271,308 | $3,690 | 3.07% |
Approval Rates
Total approvals of all applications96.36%
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 origination77.90%
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% |
