Nova Financial & Investment Corporation Mortgage Rates, Fees & Info
TUCSON, AZLEI: 549300HIVO8XPBPNVG69
Tax ID: 86-0415227
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Mortgage Data
Review & Overview
Nova Financial & Investment Corporation is a small mortgage company specializing in Home Purchase 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: Tucson, Phoenix, Denver, Yuma, and Las Vegas among others. We have data for 89 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 a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 11/17/24 |
| 30 Year Conventional Refi | 6.45% | 11/17/24 |
| 30 Year Cash-out Refi | 6.74% | 11/17/24 |
| 30 Year FHA Purchase | 6.88% | 11/17/24 |
| 30 Year FHA Refi | 6.40% | 11/17/24 |
| 30 Year VA Purchase | 6.82% | 11/17/24 |
| 30 Year VA Refi | 6.38% | 11/17/24 |
| 30 Year USDA Purchase | 7.02% | 11/17/24 |
| 30 Year USDA Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.13% | 11/17/24 |
| 15 Year Conventional Refi | 6.13% | 11/17/24 |
| 15 Year Cash-out Refi | 6.13% | 11/17/24 |
| 15 Year FHA Purchase | 6.19% | 11/17/24 |
| 15 Year FHA Refi | 5.96% | 11/17/24 |
| 15 Year VA Purchase | 5.76% | 11/17/24 |
| 15 Year VA Refi | 5.98% | 11/17/24 |
| 15 Year USDA Purchase | 5.68% | 11/17/24 |
| 15 Year USDA Refi | 6.12% | 11/17/24 |
| 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. | ||
Nova Financial & Investment Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
11,545Origination Dollar Volume (All Markets)
$2,589,755,000Awards
NOVA FINANCIAL & INVESTMENT CORPORATION - 2018
NOVA FINANCIAL & INVESTMENT CORPORATION is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| TUCSON, AZ (FHA|USDA|VA) | 3,810 | $715,830,000 | $187,882 | $3,646 | 4.80% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3,047 | $688,215,000 | $225,866 | $4,174 | 5.01% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1,732 | $545,250,000 | $314,809 | $3,714 | 4.80% |
| YUMA, AZ (FHA|USDA|VA) | 834 | $133,500,000 | $160,072 | $3,406 | 4.84% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 538 | $127,980,000 | $237,881 | $5,316 | 4.96% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 317 | $92,175,000 | $290,773 | $4,688 | 4.71% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 385 | $62,025,000 | $161,104 | $3,620 | 4.84% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 69 | $31,375,000 | $454,710 | $4,249 | 4.78% |
| GREELEY, CO (FHA|USDA|VA) | 73 | $21,475,000 | $294,178 | $4,628 | 4.75% |
| BOULDER, CO (FHA|USDA|VA) | 47 | $16,475,000 | $350,532 | $3,023 | 4.83% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 113 | $16,425,000 | $145,354 | $3,303 | 5.13% |
| Outside of Metro Areas | 76 | $15,530,000 | $204,342 | $4,407 | 4.77% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 63 | $15,225,000 | $241,667 | $4,031 | 5.04% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 48 | $13,970,000 | $291,042 | $3,480 | 4.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 39 | $11,705,000 | $300,128 | $3,075 | 4.70% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 39 | $8,215,000 | $210,641 | $4,882 | 4.87% |
| Safford, AZ (FHA|USDA|VA) | 42 | $7,380,000 | $175,714 | $3,101 | 4.92% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 15 | $6,015,000 | $401,000 | $4,892 | 4.98% |
| Nogales, AZ (FHA|USDA|VA) | 34 | $5,650,000 | $166,176 | $4,244 | 4.78% |
| Show Low, AZ (FHA|USDA|VA) | 36 | $5,540,000 | $153,889 | $3,490 | 5.02% |
| Payson, AZ (FHA|USDA|VA) | 24 | $4,650,000 | $193,750 | $4,210 | 4.89% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 16 | $4,650,000 | $290,625 | $4,448 | 4.89% |
| Breckenridge, CO (FHA|USDA|VA) | 9 | $4,105,000 | $456,111 | $3,050 | 5.01% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $2,770,000 | $461,667 | $8,177 | 5.04% |
| Edwards, CO (FHA|USDA|VA) | 6 | $2,080,000 | $346,667 | $1,804 | 4.96% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,950,000 | $325,000 | $4,015 | 4.81% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $1,830,000 | $305,000 | $5,000 | 4.58% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 6 | $1,360,000 | $226,667 | $3,344 | 4.73% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $5,109 | 4.84% |
| Steamboat Springs, CO (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $2,358 | 4.56% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $3,723 | 4.46% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $1,015,000 | $203,000 | $4,339 | 4.90% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $5,651 | 4.44% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $6,439 | 4.72% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $4,267 | 4.56% |
| RENO, NV (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $4,342 | 5.06% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,067 | 4.94% |
| LAS CRUCES, NM (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $4,853 | 4.83% |
| Heber, UT (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $2,278 | 4.75% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,124 | 4.81% |
| Fort Morgan, CO (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $1,495 | 4.46% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $2,330 | 4.00% |
| Cañon City, CO (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $2,080 | 4.35% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,455 | 4.75% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,215 | 5.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $1,570 | 4.38% |
| PUEBLO, CO (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $3,157 | 4.66% |
| Pahrump, NV (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $5,312 | 5.42% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $11,040 | 5.50% |
| MIDLAND, TX (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $5,575 | 5.25% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $3,908 | 5.25% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $7,827 | 3.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $8,950 | 5.06% |
| Taos, NM (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,636 | 5.63% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,932 | 4.50% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,783 | 5.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,896 | 4.13% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,465 | 4.69% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,380 | 4.25% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $775 | 4.75% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,738 | 5.50% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,004 | 5.06% |
| WACO, TX (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,638 | 5.00% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,163 | 5.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,775 | 4.38% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,822 | 4.63% |
| Winnemucca, NV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,054 | 4.75% |
| Montrose, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,603 | 4.25% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,030 | 5.00% |
| FAIRBANKS, AK (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,213 | 5.13% |
| Granbury, TX (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $5,915 | 5.25% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,038 | 4.75% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,654 | 4.63% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,819 | 4.50% |
| Craig, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,025 | 5.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,504 | 4.88% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,336 | 5.13% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,968 | 4.50% |
| Grants, NM (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,152 | 4.88% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,697 | 4.75% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,460 | 4.13% |
| Clovis, NM (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,768 | 5.38% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,909 | 4.75% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,432 | 4.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,681 | 4.75% |
| Nacogdoches, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,994 | 4.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,464 | 4.75% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $972 | 5.50% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,861 | 4.88% |
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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
For 2018, Nova Financial & Investment Corporation's most frequently originated type of loan was Conventional, with 7,013 originations. Their 2nd most popular type was FHA, with 2,794 originations.
Loan Reason
For 2018, Nova Financial & Investment Corporation's most frequently cited loan purpose was Home Purchase, with 9,438 originations. The 2nd most popular reason was Cash Out Refi, with 1,305 originations.
Loan Duration/Length
For 2018, Nova Financial & Investment Corporation's most frequently cited loan duration was 30 Year, with 10,924 originations. The 2nd most popular length was 15 Year, with 329 originations.
Origination Fees/Closing Costs
Nova Financial & Investment Corporation's average total fees were $3,948, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7,025 originations.
Interest Rates
During 2018, Nova Financial & Investment Corporation's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 7,488 originations.
Loan Sizing
2018 saw Nova Financial & Investment Corporation place emphasis on $200k-400k loans with 4,971 originations, totaling $1,358,125,000 in origination value.
Applicant Income
Nova Financial & Investment Corporation lent most frequently to those with incomes in the $50k-75k range, with 3,279 originations. The second most popular income band? $50k or less, with 2,914 originations.
Applicant Debt to Income Ratio
Nova Financial & Investment Corporation lent most frequently to those with DTI ratios of 30-36%, with 1,809 originations. The next most common DTI ratio? 20-30%, with 1,669 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.46%
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 origination72.61%
Nova Financial & Investment Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 11,545 | $2,589,755,000 | $224,318 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 380 | $45,360,000 | $119,368 |
| Single Family (1-4 Units):Site-Built | 11,165 | $2,544,395,000 | $227,890 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NOVA Financial & Investment Corporation | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
| NOVA Financial & Investment Corporation | FHA mortgage | Struggling to pay mortgage | 1 | 50.0% |