Nextmark Mortgage Rates, Fees & InfoFairfax, VA
Tax ID: 54-0647188
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewNextmark is a smaller mortgage company specializing in Cash Out Refi loans. Nextmark has an average proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Richmond, Charleston, and Charlotte among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)
Nextmark has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.83%||9/25/23|
|15 Year Conventional Refi||5.68%||9/25/23|
|15 Year Cash-out Refi||5.68%||9/25/23|
|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.|
Nextmark Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Nextmark. 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.
Origination Dollar Volume (All Markets)$109,600,000
Nextmark's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.14%.
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|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||479||$73,665,000||$153,789||$66||5.13%|
|BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)||111||$17,775,000||$160,135||$450||5.39%|
|RICHMOND, VA (FHA|USDA|VA)||20||$2,990,000||$149,500||$0||5.19%|
|CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA)||11||$1,925,000||$175,000||$0||4.84%|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||10||$1,850,000||$185,000||$0||5.55%|
|RALEIGH-CARY, NC (FHA|USDA|VA)||11||$1,815,000||$165,000||$0||5.61%|
|Outside of Metro Areas||16||$1,630,000||$101,875||$424||5.31%|
|CHARLOTTESVILLE, VA (FHA|USDA|VA)||13||$1,395,000||$107,308||$0||5.07%|
|VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)||10||$1,150,000||$115,000||$0||4.70%|
|SALISBURY, MD-DE (FHA|USDA|VA)||9||$1,135,000||$126,111||$2,354||4.89%|
|WINCHESTER, VA-WV (FHA|USDA|VA)||3||$565,000||$188,333||$0||4.25%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||3||$485,000||$161,667||$0||5.58%|
|Kill Devil Hills, NC (FHA|USDA|VA)||2||$460,000||$230,000||$0||3.50%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||2||$380,000||$190,000||$0||5.13%|
|CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA)||4||$370,000||$92,500||$0||4.69%|
|CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)||1||$315,000||$315,000||$0||5.00%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$285,000||$285,000||$0||8.00%|
|ASHEVILLE, NC (FHA|USDA|VA)||1||$255,000||$255,000||$0||6.00%|
|HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)||3||$255,000||$85,000||$987||6.59%|
|Pinehurst-Southern Pines, NC (FHA|USDA|VA)||1||$255,000||$255,000||$0||5.25%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||2||$230,000||$115,000||$0||5.38%|
|WILMINGTON, NC (FHA|USDA|VA)||1||$165,000||$165,000||$0||4.25%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||1||$75,000||$75,000||$0||4.75%|
|STAUNTON, VA (FHA|USDA|VA)||1||$65,000||$65,000||$0||6.50%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||1||$65,000||$65,000||$0||5.75%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$45,000||$45,000||$0||6.00%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Nextmark's most frequently originated type of loan was HELOC, with 568 originations. Their 2nd most popular type was Conventional, with 150 originations.
For 2022, Nextmark's most frequently cited loan purpose was Cash Out Refi, with 591 originations. The 2nd most popular reason was Home Purchase, with 95 originations.
For 2022, Nextmark's most frequently cited loan duration was 30 Year, with 537 originations. The 2nd most popular length was 10 Year, with 72 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Nextmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 150 originations.
During 2022, Nextmark's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 211 originations.
2022 saw Nextmark place emphasis on $100k-200k loans with 260 originations, totaling $35,340,000 in origination value.
Nextmark lent most frequently to those with incomes in the $150k-250k range, with 272 originations. The second most popular income band? $250k+, with 224 originations.
Applicant Debt to Income Ratio
Nextmark lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 128 originations.
Approval RatesTotal approvals of all applications
Nextmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick RateApprovals leading to origination
Nextmark has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|