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 mid-sized mortgage company specializing in Home Purchase and 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, Las Vegas, and Yuma among others. We have data for 92 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% | 4/22/24 |
| 30 Year Conventional Refi | 6.45% | 4/22/24 |
| 30 Year Cash-out Refi | 6.74% | 4/22/24 |
| 30 Year FHA Purchase | 6.88% | 4/22/24 |
| 30 Year FHA Refi | 6.40% | 4/22/24 |
| 30 Year VA Purchase | 6.82% | 4/22/24 |
| 30 Year VA Refi | 6.38% | 4/22/24 |
| 30 Year USDA Purchase | 7.02% | 4/22/24 |
| 30 Year USDA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 6.13% | 4/22/24 |
| 15 Year Conventional Refi | 6.13% | 4/22/24 |
| 15 Year Cash-out Refi | 6.13% | 4/22/24 |
| 15 Year FHA Purchase | 6.19% | 4/22/24 |
| 15 Year FHA Refi | 5.96% | 4/22/24 |
| 15 Year VA Purchase | 5.76% | 4/22/24 |
| 15 Year VA Refi | 5.98% | 4/22/24 |
| 15 Year USDA Purchase | 5.68% | 4/22/24 |
| 15 Year USDA Refi | 6.12% | 4/22/24 |
| 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
15,372Origination Dollar Volume (All Markets)
$3,845,710,000Awards
NOVA FINANCIAL & INVESTMENT CORPORATION - 2019
NOVA FINANCIAL & INVESTMENT CORPORATION is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4,447 | $1,100,765,000 | $247,530 | $3,860 | 4.31% |
| TUCSON, AZ (FHA|USDA|VA) | 4,912 | $1,030,030,000 | $209,697 | $3,232 | 4.22% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2,160 | $774,850,000 | $358,727 | $3,025 | 4.08% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 733 | $194,895,000 | $265,887 | $5,224 | 4.31% |
| YUMA, AZ (FHA|USDA|VA) | 953 | $155,675,000 | $163,353 | $3,251 | 4.40% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 234 | $122,640,000 | $524,103 | $3,657 | 4.19% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 538 | $100,030,000 | $185,929 | $3,490 | 4.21% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 194 | $55,980,000 | $288,557 | $4,036 | 4.03% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 200 | $32,050,000 | $160,250 | $4,002 | 4.43% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 106 | $31,770,000 | $299,717 | $3,967 | 4.27% |
| BOULDER, CO (FHA|USDA|VA) | 74 | $31,360,000 | $423,784 | $2,862 | 4.04% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 116 | $27,830,000 | $239,914 | $4,097 | 4.33% |
| GREELEY, CO (FHA|USDA|VA) | 90 | $27,640,000 | $307,111 | $3,708 | 3.99% |
| Outside of Metro Areas | 117 | $27,265,000 | $233,034 | $3,819 | 4.26% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 31 | $15,715,000 | $506,935 | $4,267 | 4.12% |
| FORT COLLINS, CO (FHA|USDA|VA) | 38 | $11,600,000 | $305,263 | $2,800 | 3.91% |
| Safford, AZ (FHA|USDA|VA) | 53 | $9,285,000 | $175,189 | $3,919 | 4.46% |
| Show Low, AZ (FHA|USDA|VA) | 46 | $8,990,000 | $195,435 | $3,161 | 4.24% |
| Nogales, AZ (FHA|USDA|VA) | 46 | $8,350,000 | $181,522 | $3,074 | 4.25% |
| Payson, AZ (FHA|USDA|VA) | 32 | $7,940,000 | $248,125 | $3,712 | 4.39% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 26 | $6,180,000 | $237,692 | $4,525 | 4.40% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 19 | $5,495,000 | $289,211 | $3,464 | 4.29% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 22 | $5,080,000 | $230,909 | $5,028 | 4.10% |
| Breckenridge, CO (FHA|USDA|VA) | 13 | $4,485,000 | $345,000 | $2,272 | 4.44% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 8 | $3,530,000 | $441,250 | $4,623 | 4.44% |
| Edwards, CO (FHA|USDA|VA) | 7 | $3,395,000 | $485,000 | $1,318 | 4.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 16 | $3,140,000 | $196,250 | $2,874 | 3.75% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 7 | $2,805,000 | $400,714 | $1,915 | 4.39% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $2,570,000 | $642,500 | $4,591 | 3.81% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 6 | $1,920,000 | $320,000 | $3,903 | 4.52% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $3,661 | 3.75% |
| Pahrump, NV (FHA|USDA|VA) | 9 | $1,725,000 | $191,667 | $6,165 | 4.71% |
| RENO, NV (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $5,875 | 4.04% |
| Steamboat Springs, CO (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $2,867 | 4.21% |
| PUEBLO, CO (FHA|USDA|VA) | 5 | $1,155,000 | $231,000 | $3,489 | 4.25% |
| VALLEJO, CA (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $8,066 | 4.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $3,853 | 4.09% |
| Fort Morgan, CO (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $4,243 | 4.16% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $1,050,000 | $525,000 | $2,522 | 3.81% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $2,074 | 3.95% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 7 | $995,000 | $142,143 | $2,472 | 4.38% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $5,176 | 3.96% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $3,888 | 3.88% |
| LAS CRUCES, NM (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $6,715 | 3.92% |
| Durango, CO (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,451 | 3.83% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $2,111 | 4.31% |
| BEND, OR (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $4,840 | 3.81% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $2,738 | 3.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,616 | 4.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $4,922 | 4.00% |
| EL CENTRO, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,451 | 4.44% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $4,473 | 4.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,268 | 4.06% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $2,288 | 3.94% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $1,298 | 3.63% |
| Del Rio, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $8,446 | 3.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $666 | 4.38% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,254 | 3.63% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,275 | 3.25% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $473 | 3.38% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $9,189 | 4.13% |
| Glenwood Springs, CO (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,628 | 5.00% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,744 | 3.63% |
| Montrose, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,849 | 4.00% |
| Silver City, NM (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,346 | 4.46% |
| REDDING, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,959 | 4.38% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $5,035 | 4.69% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,847 | 3.63% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,904 | 4.13% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $11,237 | 4.75% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $500 | 4.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,500 | 4.50% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,999 | 3.75% |
| Craig, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,172 | 5.25% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,423 | 4.13% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,329 | 5.75% |
| Sterling, CO (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $1,951 | 4.06% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $875 | 5.00% |
| Elko, NV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,450 | 4.88% |
| Eagle Pass, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,758 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,533 | 4.50% |
| Macomb, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,863 | 4.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,195 | 4.13% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,012 | 3.75% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,958 | 4.75% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,605 | 4.13% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,145 | 4.88% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,227 | 5.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,605 | 5.63% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,469 | 4.38% |
| Dixon, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,376 | 4.50% |
| FARMINGTON, NM (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,015 | 4.50% |
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
For 2019, Nova Financial & Investment Corporation's most frequently originated type of loan was Conventional, with 10,245 originations. Their 2nd most popular type was FHA, with 3,073 originations.
Loan Reason
For 2019, Nova Financial & Investment Corporation's most frequently cited loan purpose was Home Purchase, with 9,189 originations. The 2nd most popular reason was Refi, with 3,794 originations.
Loan Duration/Length
For 2019, Nova Financial & Investment Corporation's most frequently cited loan duration was 30 Year, with 14,262 originations. The 2nd most popular length was 15 Year, with 608 originations.
Origination Fees/Closing Costs
Nova Financial & Investment Corporation's average total fees were $3,624, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8,619 originations.
Interest Rates
During 2019, Nova Financial & Investment Corporation's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 7,098 originations.
Loan Sizing
2019 saw Nova Financial & Investment Corporation place emphasis on $200k-400k loans with 7,122 originations, totaling $1,962,610,000 in origination value.
Applicant Income
Nova Financial & Investment Corporation lent most frequently to those with incomes in the $50k-75k range, with 3,966 originations. The second most popular income band? $50k or less, with 3,798 originations.
Applicant Debt to Income Ratio
Nova Financial & Investment Corporation lent most frequently to those with DTI ratios of 30-36%, with 2,558 originations. The next most common DTI ratio? 20-30%, with 2,552 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.39%
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 origination80.87%
Nova Financial & Investment Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15,372 | $3,845,710,000 | $250,176 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 531 | $70,305,000 | $132,401 |
| Single Family (1-4 Units):Site-Built | 14,841 | $3,775,405,000 | $254,390 |