Nova Financial & Investment Corporation Mortgage Rates, Fees & Info

TUCSON, AZ

LEI: 549300HIVO8XPBPNVG69

Tax ID: 86-0415227

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Mortgage Data

Review & Overview

Nova Financial & Investment Corporation is a large mortgage company specializing in Refi and 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: Phoenix, Tucson, Denver, Las Vegas, and San Diego among others. We have data for 133 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.

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 6.82% 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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Nova Financial & Investment Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

29,718

Origination Dollar Volume (All Markets)

$7,839,320,000
Show all (50) awards

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) 8,989 $2,366,315,000 $263,246 $3,654 3.20%
TUCSON, AZ (FHA|USDA|VA) 9,458 $2,083,350,000 $220,274 $2,763 3.16%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3,984 $1,401,970,000 $351,900 $2,300 3.08%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1,363 $373,735,000 $274,200 $4,120 3.21%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 711 $349,515,000 $491,582 $2,104 3.10%
YUMA, AZ (FHA|USDA|VA) 1,488 $270,480,000 $181,774 $3,323 3.23%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 975 $195,245,000 $200,251 $3,437 3.15%
FLAGSTAFF, AZ (FHA|USDA|VA) 245 $73,295,000 $299,163 $3,147 3.15%
COLORADO SPRINGS, CO (FHA|USDA|VA) 214 $65,560,000 $306,355 $3,217 3.06%
BOULDER, CO (FHA|USDA|VA) 147 $59,205,000 $402,755 $2,509 3.11%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 108 $52,670,000 $487,685 $3,342 3.16%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 192 $51,910,000 $270,365 $3,223 3.22%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 202 $50,060,000 $247,822 $5,607 3.30%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 250 $49,280,000 $197,120 $3,884 3.44%
GREELEY, CO (FHA|USDA|VA) 139 $43,725,000 $314,568 $2,872 3.08%
Outside of Metro Areas 156 $38,150,000 $244,551 $2,888 3.15%
FORT COLLINS, CO (FHA|USDA|VA) 91 $27,275,000 $299,725 $2,528 3.01%
Show Low, AZ (FHA|USDA|VA) 102 $22,650,000 $222,059 $2,668 3.16%
Nogales, AZ (FHA|USDA|VA) 108 $22,010,000 $203,796 $3,074 3.22%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 66 $20,850,000 $315,909 $2,736 3.27%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 83 $20,135,000 $242,590 $2,609 3.15%
Safford, AZ (FHA|USDA|VA) 92 $18,150,000 $197,283 $3,490 3.14%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 25 $14,245,000 $569,800 $2,437 3.04%
Payson, AZ (FHA|USDA|VA) 61 $13,615,000 $223,197 $3,032 3.15%
Breckenridge, CO (FHA|USDA|VA) 31 $12,475,000 $402,419 $2,011 3.29%
Edwards, CO (FHA|USDA|VA) 20 $9,540,000 $477,000 $1,728 3.17%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 10 $8,330,000 $833,000 $2,141 2.84%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 21 $7,215,000 $343,571 $1,990 3.07%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $7,215,000 $424,412 $2,270 3.09%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $6,455,000 $307,381 $4,957 3.21%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 16 $5,370,000 $335,625 $3,792 2.96%
RENO, NV (FHA|USDA|VA) 14 $4,750,000 $339,286 $2,540 3.28%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $4,475,000 $406,818 $3,632 3.05%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 13 $4,155,000 $319,615 $4,270 3.26%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 11 $4,125,000 $375,000 $3,053 3.31%
PUEBLO, CO (FHA|USDA|VA) 16 $3,850,000 $240,625 $2,367 3.24%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 8 $3,710,000 $463,750 $2,188 3.20%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 8 $3,640,000 $455,000 $4,597 3.08%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $3,560,000 $356,000 $2,922 2.79%
Pahrump, NV (FHA|USDA|VA) 18 $3,400,000 $188,889 $4,821 3.28%
SALINAS, CA (FHA|USDA|VA) 6 $2,760,000 $460,000 $3,232 2.77%
Steamboat Springs, CO (FHA|USDA|VA) 7 $2,545,000 $363,571 $747 3.09%
GRAND JUNCTION, CO (FHA|USDA|VA) 10 $2,530,000 $253,000 $4,113 3.11%
Heber, UT (FHA|USDA|VA) 5 $2,425,000 $485,000 $4,493 3.14%
LAS CRUCES, NM (FHA|USDA|VA) 10 $2,030,000 $203,000 $3,162 3.00%
LOGAN, UT-ID (FHA|USDA|VA) 4 $1,960,000 $490,000 $260 2.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 8 $1,870,000 $233,750 $4,602 3.56%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $1,730,000 $288,333 $4,732 2.98%
Glenwood Springs, CO (FHA|USDA|VA) 4 $1,620,000 $405,000 $4,083 3.19%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $1,565,000 $521,667 $8,021 3.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,560,000 $390,000 $5,021 3.19%
EL CENTRO, CA (FHA|USDA|VA) 8 $1,470,000 $183,750 $3,303 3.13%
ALBUQUERQUE, NM (FHA|USDA|VA) 4 $1,460,000 $365,000 $4,335 3.63%
CaƱon City, CO (FHA|USDA|VA) 7 $1,265,000 $180,714 $2,321 3.84%
MEDFORD, OR (FHA|USDA|VA) 4 $1,240,000 $310,000 $2,446 2.99%
Gardnerville Ranchos, NV (FHA|USDA|VA) 3 $1,235,000 $411,667 $2,626 3.04%
Fort Morgan, CO (FHA|USDA|VA) 5 $1,135,000 $227,000 $2,111 2.95%
MIDLAND, TX (FHA|USDA|VA) 4 $1,130,000 $282,500 $7,273 3.84%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $7,765 3.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $970,000 $242,500 $2,011 3.25%
Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $960,000 $480,000 $1,925 3.75%
Ellensburg, WA (FHA|USDA|VA) 2 $960,000 $480,000 $3,686 3.75%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $940,000 $235,000 $2,826 3.12%
YUBA CITY, CA (FHA|USDA|VA) 3 $905,000 $301,667 $2,553 3.21%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $900,000 $225,000 $3,998 3.38%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $895,000 $298,333 $8,793 2.96%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $835,000 $278,333 $3,598 2.62%
Key West, FL (FHA|USDA|VA) 1 $825,000 $825,000 $18,550 2.75%
Durango, CO (FHA|USDA|VA) 3 $775,000 $258,333 $2,493 2.83%
FRESNO, CA (FHA|USDA|VA) 2 $750,000 $375,000 $2,115 3.13%
LOUISVILLE, KY (FHA|USDA|VA) 3 $735,000 $245,000 $3,550 3.29%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $720,000 $360,000 $695 2.87%
STOCKTON, CA (FHA|USDA|VA) 3 $705,000 $235,000 $1,425 2.87%
ST. GEORGE, UT (FHA|USDA|VA) 2 $690,000 $345,000 $2,700 3.00%
SANTA FE, NM (FHA|USDA|VA) 2 $690,000 $345,000 $4,353 2.93%
WACO, TX (FHA|USDA|VA) 4 $690,000 $172,500 $3,459 3.94%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $680,000 $340,000 $2,480 2.87%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $640,000 $320,000 $2,008 2.94%
BELLINGHAM, WA (FHA|USDA|VA) 2 $630,000 $315,000 $3,300 2.94%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $620,000 $310,000 $6,457 3.88%
PROVO-OREM, UT (FHA|USDA|VA) 2 $620,000 $310,000 $1,244 3.06%
MODESTO, CA (FHA|USDA|VA) 2 $610,000 $305,000 $2,150 3.24%
Eureka-Arcata, CA (FHA|USDA|VA) 2 $580,000 $290,000 $2,602 3.00%
Red Bluff, CA (FHA|USDA|VA) 2 $500,000 $250,000 $3,050 3.44%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $495,000 $495,000 $3,536 3.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $465,000 $465,000 $2,858 3.38%
Angola, IN (FHA|USDA|VA) 1 $465,000 $465,000 $2,759 3.49%
EL PASO, TX (FHA|USDA|VA) 3 $455,000 $151,667 $2,382 2.95%
Taos, NM (FHA|USDA|VA) 1 $445,000 $445,000 $3,885 3.38%
Gallup, NM (FHA|USDA|VA) 3 $415,000 $138,333 $3,226 3.08%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $395,000 $395,000 $0 2.88%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $385,000 $385,000 $8,994 2.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $365,000 $365,000 $4,433 3.00%
WALLA WALLA, WA (FHA|USDA|VA) 1 $365,000 $365,000 $1,153 2.88%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $355,000 $355,000 $1,627 3.88%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $350,000 $175,000 $5,382 2.75%
Shelton, WA (FHA|USDA|VA) 1 $345,000 $345,000 $1,000 2.88%
BEND, OR (FHA|USDA|VA) 1 $325,000 $325,000 $3,208 3.25%
Roseburg, OR (FHA|USDA|VA) 2 $320,000 $160,000 $3,619 3.63%
LUBBOCK, TX (FHA|USDA|VA) 2 $320,000 $160,000 $4,233 3.06%
Montrose, CO (FHA|USDA|VA) 1 $305,000 $305,000 $2,337 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $295,000 $295,000 $4,305 4.99%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $285,000 $285,000 $2,599 3.25%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $285,000 $285,000 $5,430 2.63%
OCALA, FL (FHA|USDA|VA) 2 $270,000 $135,000 $3,390 2.87%
Sterling, CO (FHA|USDA|VA) 1 $265,000 $265,000 $1,574 3.00%
Centralia, WA (FHA|USDA|VA) 1 $265,000 $265,000 $2,095 3.25%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $260,000 $130,000 $2,446 3.94%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,211 2.49%
VALLEJO, CA (FHA|USDA|VA) 1 $255,000 $255,000 $2,543 3.25%
Craig, CO (FHA|USDA|VA) 1 $225,000 $225,000 $6,373 3.75%
Eagle Pass, TX (FHA|USDA|VA) 1 $205,000 $205,000 $2,172 2.75%
Port Lavaca, TX (FHA|USDA|VA) 1 $205,000 $205,000 $3,455 4.13%
Silver City, NM (FHA|USDA|VA) 1 $195,000 $195,000 $3,488 2.88%
ODESSA, TX (FHA|USDA|VA) 1 $195,000 $195,000 $2,246 3.75%
FARMINGTON, NM (FHA|USDA|VA) 1 $175,000 $175,000 $2,979 3.75%
COLUMBUS, IN (FHA|USDA|VA) 1 $175,000 $175,000 $2,653 3.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $165,000 $165,000 $1,233 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,545 2.75%
FORT WAYNE, IN (FHA|USDA|VA) 1 $155,000 $155,000 $1,862 2.75%
Clovis, NM (FHA|USDA|VA) 1 $145,000 $145,000 $2,159 3.25%
Fernley, NV (FHA|USDA|VA) 1 $135,000 $135,000 $2,293 3.63%
VISALIA, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,017 3.38%
El Campo, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,618 3.25%
Astoria, OR (FHA|USDA|VA) 1 $125,000 $125,000 $2,892 4.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,619 2.63%
Huntsville, TX (FHA|USDA|VA) 1 $125,000 $125,000 $7,226 2.75%
Alamogordo, NM (FHA|USDA|VA) 1 $115,000 $115,000 $1,866 4.25%
Las Vegas, NM (FHA|USDA|VA) 1 $105,000 $105,000 $3,452 2.75%
Port Angeles, WA (FHA|USDA|VA) 1 $95,000 $95,000 $1,768 2.75%
Roswell, NM (FHA|USDA|VA) 1 $75,000 $75,000 $2,725 2.63%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $65,000 $65,000 $1,724 2.63%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $55,000 $55,000 $3,104 3.99%
Nova Financial & Investment Corporation's top markets include Phoenix, Tucson, Denver, Las Vegas, and San Diego 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)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 22,519 $6,003,935,000 $266,616 $2,354 3.15%
    FHA 3,899 $880,115,000 $225,728 $6,268 3.40%
    VA 3,040 $908,830,000 $298,957 $4,688 2.97%
    USDA 228 $39,850,000 $174,781 $3,532 3.22%
    FHA 32 $6,590,000 $205,938 $0 2.93%

    For 2020, Nova Financial & Investment Corporation's most frequently originated type of loan was Conventional, with 22,519 originations. Their 2nd most popular type was FHA, with 3,899 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 13,808 $3,640,000,000 $263,615 $2,084 3.06%
    Home Purchase 11,253 $3,035,055,000 $269,711 $4,472 3.26%
    Cash Out Refi 4,657 $1,164,265,000 $250,003 $2,899 3.28%

    For 2020, Nova Financial & Investment Corporation's most frequently cited loan purpose was Refi, with 13,808 originations. The 2nd most popular reason was Home Purchase, with 11,253 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 25,540 $6,948,900,000 $272,079 $3,289 3.23%
    15 Year 2,684 $572,730,000 $213,387 $2,096 2.71%
    20 Year 826 $188,240,000 $227,893 $2,186 3.10%
    Other 446 $106,530,000 $238,857 $2,045 3.10%
    10 Year 114 $21,930,000 $192,368 $2,053 2.67%
    3 Year 108 $990,000 $9,167 $1 0.00%

    For 2020, Nova Financial & Investment Corporation's most frequently cited loan duration was 30 Year, with 25,540 originations. The 2nd most popular length was 15 Year, with 2,684 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 14,760 $4,093,860,000 $277,362
    $1k-2k 12,118 $2,916,090,000 $240,641
    $2k-3k 1,686 $442,420,000 $262,408
    $3k-4k 663 $198,825,000 $299,887
    $4k-5k 236 $81,590,000 $345,720
    $5k+ 223 $99,945,000 $448,184

    Nova Financial & Investment Corporation's average total fees were $3,289, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14,760 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 13,580 $3,539,380,000 $260,632
    2.5-3% 12,077 $3,359,555,000 $278,178
    <2.5% 2,217 $540,265,000 $243,692
    4-5% 1,666 $356,550,000 $214,016
    5-6% 171 $40,125,000 $234,649
    7-8% 4 $1,330,000 $332,500
    6-7% 3 $2,115,000 $705,000

    During 2020, Nova Financial & Investment Corporation's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 13,580 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 14,979 $4,181,005,000 $279,124 $3,475 3.17%
    $100k-200k 9,448 $1,477,960,000 $156,431 $2,644 3.22%
    $400k-600k 3,484 $1,638,810,000 $470,382 $3,032 3.07%
    $100,000 or less 1,254 $89,550,000 $71,411 $1,983 2.92%
    $600k-1MM 455 $329,605,000 $724,407 $4,323 3.16%
    $1MM+ 98 $122,390,000 $1,248,878 $5,711 3.17%

    2020 saw Nova Financial & Investment Corporation place emphasis on $200k-400k loans with 14,979 originations, totaling $4,181,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 7,031 $1,508,895,000 $214,606 $3,536 3.21%
    $50k or less 6,493 $1,259,545,000 $193,985 $3,030 3.14%
    $100k-150k 5,884 $1,766,290,000 $300,185 $2,911 3.16%
    $75k-100k 5,212 $1,332,600,000 $255,679 $3,271 3.18%
    $150k-250k 3,544 $1,287,560,000 $363,307 $2,693 3.14%
    $250k+ 1,361 $633,745,000 $465,647 $2,915 3.19%

    Nova Financial & Investment Corporation lent most frequently to those with incomes in the $50k-75k range, with 7,031 originations. The second most popular income band? $50k or less, with 6,493 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6,567 $1,755,005,000 $267,246 $2,584 3.11%
    30-36% 5,127 $1,379,545,000 $269,075 $2,963 3.17%
    <20% 4,293 $1,158,295,000 $269,810 $2,333 2.98%
    44% 1,250 $307,030,000 $245,624 $3,657 3.32%
    50-60% 1,127 $286,265,000 $254,006 $6,349 3.25%
    43% 1,088 $270,740,000 $248,842 $3,432 3.29%
    41% 1,055 $272,075,000 $257,891 $3,313 3.29%
    40% 1,037 $270,515,000 $260,863 $3,366 3.26%
    42% 1,014 $266,710,000 $263,028 $3,482 3.26%
    38% 976 $261,990,000 $268,432 $3,143 3.23%
    39% 954 $252,810,000 $265,000 $3,152 3.26%
    37% 950 $249,820,000 $262,968 $3,139 3.22%
    36% 932 $249,710,000 $267,929 $3,149 3.22%
    49% 794 $199,210,000 $250,894 $3,748 3.24%
    45% 698 $181,150,000 $259,527 $3,510 3.20%
    46% 627 $159,515,000 $254,410 $3,752 3.22%
    48% 605 $155,095,000 $256,355 $3,629 3.19%
    47% 569 $145,355,000 $255,457 $3,713 3.24%
    >60% 55 $18,485,000 $336,091 $7,097 3.12%

    Nova Financial & Investment Corporation lent most frequently to those with DTI ratios of 20-30%, with 6,567 originations. The next most common DTI ratio? 30-36%, with 5,127 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26,243 $6,885,675,000 $262,381 $3,057 3.17%
    Not provided 1,743 $479,785,000 $275,264 $3,539 3.15%
    Asian 723 $205,965,000 $284,876 $3,149 3.11%
    Black 656 $173,180,000 $263,994 $4,102 3.19%
    American Indian 210 $52,710,000 $251,000 $3,734 3.16%
    Native Hawaiian or Islander 80 $20,990,000 $262,375 $3,021 3.18%
    Asian Indian 24 $9,420,000 $392,500 $2,158 2.84%
    Other Asian 15 $4,875,000 $325,000 $3,952 2.87%
    Filipino 6 $2,010,000 $335,000 $7,860 3.69%
    Japanese 5 $1,395,000 $279,000 $3,030 3.12%
    Other Pacific Islander 4 $1,000,000 $250,000 $3,416 3.63%
    Vietnamese 4 $720,000 $180,000 $1,755 3.75%
    Korean 2 $700,000 $350,000 $7,225 3.62%
    Samoan 2 $560,000 $280,000 $1,290 4.44%
    Guamanian 1 $335,000 $335,000 $4,608 3.13%

    Approval Rates

    Total approvals of all applications
    97.20%

    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
    77.15%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 29,718 $7,839,320,000 $263,790

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $515,000 $515,000
    Single Family (1-4 Units):Manufactured 657 $99,675,000 $151,712
    Single Family (1-4 Units):Site-Built 29,060 $7,739,130,000 $266,316

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,158 $213,620,000 $184,473 $2,019 2.91%
    40-60% 4,368 $1,077,390,000 $246,655 $2,013 3.01%
    60-80% 11,528 $3,170,470,000 $275,023 $2,449 3.21%
    80-100% 12,135 $3,270,695,000 $269,526 $4,082 3.26%
    Over 100% 305 $96,865,000 $317,590 $11,537 3.02%
    Under 20% 224 $10,280,000 $45,893 $699 0.97%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NOVA Financial Holding Company, LLC FHA mortgage Closing on a mortgage 1 33.3%
    NOVA Financial Holding Company, LLC FHA mortgage Trouble during payment process 1 33.3%
    NOVA Financial Holding Company, LLC Other type of mortgage Struggling to pay mortgage 1 33.3%