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 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 Sierra Vista among others. We have data for 116 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 4/28/24 |
| 30 Year Conventional Refi | 6.45% | 4/28/24 |
| 30 Year Cash-out Refi | 6.74% | 4/28/24 |
| 30 Year FHA Purchase | 6.88% | 4/28/24 |
| 30 Year FHA Refi | 6.40% | 4/28/24 |
| 30 Year VA Purchase | 6.82% | 4/28/24 |
| 30 Year VA Refi | 6.38% | 4/28/24 |
| 30 Year USDA Purchase | 7.02% | 4/28/24 |
| 30 Year USDA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.13% | 4/28/24 |
| 15 Year Conventional Refi | 6.13% | 4/28/24 |
| 15 Year Cash-out Refi | 6.13% | 4/28/24 |
| 15 Year FHA Purchase | 6.19% | 4/28/24 |
| 15 Year FHA Refi | 5.96% | 4/28/24 |
| 15 Year VA Purchase | 5.76% | 4/28/24 |
| 15 Year VA Refi | 5.98% | 4/28/24 |
| 15 Year USDA Purchase | 5.68% | 4/28/24 |
| 15 Year USDA Refi | 6.12% | 4/28/24 |
| 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
9,037Origination Dollar Volume (All Markets)
$2,812,905,000Awards
NOVA FINANCIAL & INVESTMENT CORPORATION - 2022
NOVA FINANCIAL & INVESTMENT CORPORATION is a 2022 , due to their low .
For 2022, 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) | 2,960 | $997,330,000 | $336,936 | $6,539 | 4.83% |
| TUCSON, AZ (FHA|USDA|VA) | 2,653 | $708,625,000 | $267,103 | $5,039 | 4.62% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 580 | $282,450,000 | $486,983 | $3,573 | 4.71% |
| YUMA, AZ (FHA|USDA|VA) | 895 | $206,035,000 | $230,207 | $5,505 | 4.66% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 568 | $137,680,000 | $242,394 | $5,309 | 4.71% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 344 | $115,290,000 | $335,145 | $6,710 | 4.77% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 91 | $58,035,000 | $637,747 | $5,508 | 4.39% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 107 | $35,225,000 | $329,206 | $6,198 | 4.97% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 92 | $32,460,000 | $352,826 | $6,595 | 5.13% |
| Outside of Metro Areas | 70 | $20,720,000 | $296,000 | $5,132 | 4.67% |
| GREELEY, CO (FHA|USDA|VA) | 44 | $17,300,000 | $393,182 | $3,670 | 4.56% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 91 | $16,545,000 | $181,813 | $6,126 | 5.07% |
| Nogales, AZ (FHA|USDA|VA) | 65 | $16,225,000 | $249,615 | $5,212 | 4.59% |
| BOULDER, CO (FHA|USDA|VA) | 28 | $13,660,000 | $487,857 | $3,579 | 4.94% |
| Show Low, AZ (FHA|USDA|VA) | 52 | $12,790,000 | $245,962 | $5,698 | 5.58% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 33 | $12,735,000 | $385,909 | $5,408 | 4.98% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 21 | $9,665,000 | $460,238 | $7,278 | 5.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 20 | $9,630,000 | $481,500 | $6,848 | 4.52% |
| Safford, AZ (FHA|USDA|VA) | 42 | $9,470,000 | $225,476 | $5,087 | 5.04% |
| FORT COLLINS, CO (FHA|USDA|VA) | 23 | $9,425,000 | $409,783 | $3,757 | 4.86% |
| Payson, AZ (FHA|USDA|VA) | 31 | $9,245,000 | $298,226 | $7,249 | 5.04% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 11 | $8,645,000 | $785,909 | $9,295 | 3.58% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 13 | $4,205,000 | $323,462 | $6,989 | 5.52% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 10 | $3,350,000 | $335,000 | $6,363 | 4.71% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $2,700,000 | $1,350,000 | $5,861 | 4.19% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $2,695,000 | $898,333 | $3,340 | 3.87% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $2,620,000 | $436,667 | $7,430 | 4.25% |
| Pahrump, NV (FHA|USDA|VA) | 7 | $2,565,000 | $366,429 | $7,683 | 5.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $2,475,000 | $353,571 | $8,193 | 5.75% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 5 | $2,285,000 | $457,000 | $8,090 | 4.48% |
| EL PASO, TX (FHA|USDA|VA) | 9 | $2,005,000 | $222,778 | $8,818 | 5.44% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,955,000 | $391,000 | $5,497 | 4.13% |
| EL CENTRO, CA (FHA|USDA|VA) | 7 | $1,895,000 | $270,714 | $7,992 | 3.84% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,890,000 | $945,000 | $6,337 | 3.69% |
| PUEBLO, CO (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $2,954 | 5.95% |
| RENO, NV (FHA|USDA|VA) | 3 | $1,325,000 | $441,667 | $5,530 | 4.58% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 5 | $1,295,000 | $259,000 | $6,069 | 4.72% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $5,018 | 5.03% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $9,602 | 4.38% |
| Montrose, CO (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $3,160 | 5.25% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $3,338 | 4.87% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $6,847 | 6.13% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $1,135,000 | $1,135,000 | $800 | 3.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $4,094 | 4.21% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $1,050,000 | $525,000 | $6,439 | 4.44% |
| Cañon City, CO (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $3,744 | 5.12% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $5,740 | 4.91% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $2,512 | 4.31% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $4,291 | 3.81% |
| Steamboat Springs, CO (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $1,752 | 4.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $5,183 | 4.97% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $6,494 | 5.88% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,286 | 4.31% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,616 | 5.56% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $9,055 | 5.68% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $3,375 | 5.28% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $1,627 | 3.13% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $6,714 | 4.67% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $6,769 | 6.13% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $1,100 | 5.00% |
| Edwards, CO (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $1,218 | 4.99% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $4,121 | 5.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,163 | 5.63% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 3.25% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,352 | 3.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,216 | 5.87% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,360 | 3.81% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,106 | 4.06% |
| MADERA, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $2,604 | 3.75% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $12,359 | 5.75% |
| AMARILLO, TX (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $2,755 | 5.88% |
| Taos, NM (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,585 | 2.99% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,670 | 4.50% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $675 | 5.38% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,691 | 5.63% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,881 | 5.88% |
| OCALA, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,508 | 5.69% |
| Sterling, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $15,020 | 5.25% |
| REDDING, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,971 | 4.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,875 | 6.25% |
| Elko, NV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $10,881 | 7.25% |
| Columbus, NE (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,200 | 3.88% |
| Susanville, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $624 | 5.38% |
| Coos Bay, OR (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $5,707 | 4.00% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,797 | 3.63% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,500 | 4.13% |
| Ontario, OR-ID (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,419 | 6.13% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,056 | 5.49% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,384 | 5.25% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $12,036 | 4.13% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,025 | 4.13% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,684 | 4.00% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,750 | 3.75% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,396 | 6.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,682 | 5.63% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,100 | 5.49% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,663 | 5.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,367 | 5.99% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,478 | 5.88% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $30 | 5.13% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,358 | 3.75% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $816 | 3.63% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,339 | 6.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,308 | 6.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,887 | 5.38% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,417 | 3.38% |
| Grants, NM (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,945 | 5.75% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,577 | 6.99% |
| Roswell, NM (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,936 | 6.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,667 | 3.25% |
| Danville, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,982 | 3.38% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,962 | 5.99% |
| Silver City, NM (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,670 | 4.38% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,521 | 4.49% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $682 | 5.75% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,713 | 7.63% |
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Product Mix
For 2022, Nova Financial & Investment Corporation's most frequently originated type of loan was Conventional, with 6,129 originations. Their 2nd most popular type was FHA, with 1,865 originations.
Loan Reason
For 2022, Nova Financial & Investment Corporation's most frequently cited loan purpose was Home Purchase, with 6,181 originations. The 2nd most popular reason was Cash Out Refi, with 2,225 originations.
Loan Duration/Length
For 2022, Nova Financial & Investment Corporation's most frequently cited loan duration was 30 Year, with 8,424 originations. The 2nd most popular length was 15 Year, with 302 originations.
Origination Fees/Closing Costs
Nova Financial & Investment Corporation's average total fees were $5,796, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,627 originations.
Interest Rates
During 2022, Nova Financial & Investment Corporation's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 5-6%, with 2,663 originations.
Loan Sizing
2022 saw Nova Financial & Investment Corporation place emphasis on $200k-400k loans with 4,540 originations, totaling $1,331,450,000 in origination value.
Applicant Income
Nova Financial & Investment Corporation lent most frequently to those with incomes in the $50k-75k range, with 3,104 originations. The second most popular income band? $75k-100k, with 1,966 originations.
Applicant Debt to Income Ratio
Nova Financial & Investment Corporation lent most frequently to those with DTI ratios of 30-36%, with 1,304 originations. The next most common DTI ratio? 20-30%, with 1,160 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.25%
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 origination72.05%
Nova Financial & Investment Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 9,037 | $2,812,905,000 | $311,265 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 9,037 | $2,812,905,000 | $311,265 |