Nextmark Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 549300IJI189UIQW0294

Tax ID: 54-0647188

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Mortgage Data

Review & Overview

Nextmark is a smaller mortgage company specializing in Cash Out Refi and Home Improvement loans. Nextmark has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Richmond, Charlotte, and Charleston among others. We have data for 25 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 relatively high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.83% 12/6/24
15 Year Conventional Refi 5.68% 12/6/24
15 Year Cash-out Refi 5.68% 12/6/24
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.

Nextmark Mortgage Calculator






Your Estimates

Estimated 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.


Originations

433

Origination Dollar Volume (All Markets)

$65,785,000

Relative Rate

Nextmark's average 30 year fixed mortgage rate was 8.5%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 2.02%.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 300 $44,970,000 $149,900 $1,204 7.95%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 63 $10,435,000 $165,635 $1,234 8.31%
RICHMOND, VA (FHA|USDA|VA) 13 $2,135,000 $164,231 $1,095 8.29%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 8 $1,200,000 $150,000 $1,591 8.66%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $1,075,000 $215,000 $2,064 8.20%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 7 $1,055,000 $150,714 $1,026 8.17%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $755,000 $151,000 $1,833 7.95%
Outside of Metro Areas 6 $690,000 $115,000 $1,341 7.75%
WINCHESTER, VA-WV (FHA|USDA|VA) 3 $525,000 $175,000 $1,494 8.47%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $480,000 $120,000 $1,459 8.07%
MORGANTOWN, WV (FHA|USDA|VA) 1 $405,000 $405,000 $2,349 7.76%
HARRISONBURG, VA (FHA|USDA|VA) 4 $400,000 $100,000 $1,398 7.37%
Morehead City, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 7.75%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $250,000 $125,000 $0 8.25%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $195,000 $195,000 $1,105 8.75%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 9.75%
NEW BERN, NC (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $155,000 $155,000 $1,438 7.75%
LYNCHBURG, VA (FHA|USDA|VA) 1 $115,000 $115,000 $994 7.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $85,000 $85,000 $0 9.25%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $75,000 $75,000 $1,731 6.50%
STAUNTON, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $45,000 $45,000 $924 6.75%
Cambridge, MD (FHA|USDA|VA) 1 $35,000 $35,000 $1,019 6.40%
Nextmark's top markets include Washington, Baltimore, Richmond, Charlotte, and Charleston among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 249 $40,155,000 $161,265 n/a 8.54%
    Conventional 184 $25,630,000 $139,293 $1,229 7.35%

    For 2023, Nextmark's most frequently originated type of loan was HELOC, with 249 originations. Their 2nd most popular type was Conventional, with 184 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 254 $37,400,000 $147,244 $1,224 7.99%
    Home Improvement 100 $14,470,000 $144,700 $1,165 8.00%
    Home Purchase 45 $7,645,000 $169,889 $1,307 8.43%
    Other 25 $3,985,000 $159,400 $1,213 7.99%
    Refi 8 $1,880,000 $235,000 $1,475 7.86%
    NA 1 $405,000 $405,000 $1,783 6.75%

    For 2023, Nextmark's most frequently cited loan purpose was Cash Out Refi, with 254 originations. The 2nd most popular reason was Home Improvement, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 184 $29,610,000 $160,924 $0 8.50%
    10 Year 99 $15,365,000 $155,202 $1,265 7.09%
    30+ year 65 $10,545,000 $162,231 $0 8.66%
    20 Year 60 $8,010,000 $133,500 $1,252 7.92%
    15 Year 18 $1,950,000 $108,333 $1,032 7.30%
    5 Year 7 $305,000 $43,571 $1,018 6.20%

    For 2023, Nextmark's most frequently cited loan duration was 30 Year, with 184 originations. The 2nd most popular length was 10 Year, with 99 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 184 $25,630,000 $139,293

    Nextmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 213 $33,585,000 $157,676
    7-8% 141 $22,355,000 $158,546
    6-7% 61 $8,595,000 $140,902
    5-6% 18 $1,250,000 $69,444

    During 2023, Nextmark's average interest rate for loans was 8.50%, while their most frequently originated rate bucket for loans was Over 8%, with 213 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 156 $21,710,000 $139,167 $1,225 8.22%
    $100,000 or less 152 $9,440,000 $62,105 $1,052 7.81%
    $200k-400k 109 $27,575,000 $252,982 $1,460 8.13%
    $400k-600k 16 $7,060,000 $441,250 $2,068 7.66%

    2023 saw Nextmark place emphasis on $100k-200k loans with 156 originations, totaling $21,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 168 $23,360,000 $139,048 $1,210 8.04%
    $250k+ 142 $30,190,000 $212,606 $1,416 8.02%
    $100k-150k 84 $9,120,000 $108,571 $1,122 8.11%
    $75k-100k 26 $2,160,000 $83,077 $934 7.80%
    $50k-75k 13 $955,000 $73,462 $949 7.97%

    Nextmark lent most frequently to those with incomes in the $150k-250k range, with 168 originations. The second most popular income band? $250k+, with 142 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 88 $12,270,000 $139,432 $1,249 7.80%
    30-36% 86 $13,420,000 $156,047 $1,243 7.83%
    42% 31 $5,045,000 $162,742 $1,272 7.93%
    43% 26 $4,480,000 $172,308 $1,246 8.44%
    38% 24 $3,560,000 $148,333 $1,227 8.09%
    41% 24 $3,360,000 $140,000 $1,227 7.90%
    44% 21 $3,235,000 $154,048 $1,105 8.86%
    39% 17 $3,335,000 $196,176 $1,232 8.00%
    40% 17 $2,575,000 $151,471 $1,056 8.77%
    37% 16 $2,370,000 $148,125 $1,131 8.10%
    50-60% 15 $2,265,000 $151,000 $0 7.88%
    <20% 15 $2,725,000 $181,667 $1,272 7.30%
    36% 14 $1,390,000 $99,286 $1,161 7.62%
    47% 9 $1,225,000 $136,111 $0 8.81%
    48% 9 $1,405,000 $156,111 $0 8.64%
    45% 8 $1,220,000 $152,500 $0 8.53%
    49% 7 $905,000 $129,286 $0 8.29%
    46% 6 $1,000,000 $166,667 $0 8.50%

    Nextmark lent most frequently to those with DTI ratios of 20-30%, with 88 originations. The next most common DTI ratio? 30-36%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 258 $40,680,000 $157,674 $1,242 7.91%
    Not provided 96 $13,660,000 $142,292 $1,237 8.08%
    Black 48 $5,770,000 $120,208 $1,164 8.38%
    Asian 17 $3,375,000 $198,529 $1,095 8.27%
    Asian Indian 5 $965,000 $193,000 $1,645 7.90%
    Other Asian 5 $615,000 $123,000 $770 8.80%
    American Indian 3 $595,000 $198,333 $1,094 9.17%
    Native Hawaiian or Islander 1 $125,000 $125,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    65.21%

    Nextmark has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    85.22%

    Nextmark has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 433 $65,785,000 $151,928

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    433 $65,785,000 $151,928

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 163 $35,955,000 $220,583 $1,320 8.38%
    40-60% 15 $4,185,000 $279,000 $1,857 8.37%
    60-80% 1 $215,000 $215,000 $0 8.00%
    Under 20% 254 $25,430,000 $100,118 $1,169 7.79%