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 Home Purchase loans. Nextmark has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Richmond, Virginia Beach, and Charlotte among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

Nextmark has an 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% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
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.

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

835

Origination Dollar Volume (All Markets)

$99,675,000

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) 614 $72,850,000 $118,648 $689 5.69%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 139 $18,205,000 $130,971 $699 5.77%
RICHMOND, VA (FHA|USDA|VA) 13 $1,355,000 $104,231 $737 5.85%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 11 $1,295,000 $117,727 $619 5.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 10 $1,060,000 $106,000 $0 5.83%
RALEIGH-CARY, NC (FHA|USDA|VA) 10 $970,000 $97,000 $667 5.93%
WINCHESTER, VA-WV (FHA|USDA|VA) 4 $630,000 $157,500 $693 5.31%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $520,000 $130,000 $0 5.50%
LYNCHBURG, VA (FHA|USDA|VA) 5 $475,000 $95,000 $812 5.35%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $440,000 $110,000 $854 5.56%
Outside of Metro Areas 6 $370,000 $61,667 $670 5.54%
Easton, MD (FHA|USDA|VA) 2 $360,000 $180,000 $0 5.75%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $305,000 $101,667 $0 5.42%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $195,000 $195,000 $891 5.50%
MORGANTOWN, WV (FHA|USDA|VA) 2 $170,000 $85,000 $0 5.88%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.50%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.75%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $75,000 $75,000 $592 6.26%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
HARRISONBURG, VA (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.25%
Nextmark's top markets include Washington, Baltimore, Richmond, Virginia Beach, and Charlotte 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 462 $56,870,000 $123,095 n/a 5.67%
    Conventional 373 $42,805,000 $114,759 $691 5.75%

    For 2018, Nextmark's most frequently originated type of loan was HELOC, with 462 originations. Their 2nd most popular type was Conventional, with 373 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 410 $54,800,000 $133,659 $640 5.80%
    Home Improvement 168 $15,260,000 $90,833 $687 5.60%
    Refi 128 $17,710,000 $138,359 $764 5.61%
    Other 82 $5,990,000 $73,049 $724 5.63%
    Cash Out Refi 47 $5,915,000 $125,851 $743 5.71%

    For 2018, Nextmark's most frequently cited loan purpose was Home Purchase, with 410 originations. The 2nd most popular reason was Home Improvement, with 168 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 462 $56,870,000 $123,095 $0 5.67%
    10 Year 234 $31,190,000 $133,291 $696 5.67%
    20 Year 78 $7,090,000 $90,897 $682 6.23%
    15 Year 48 $4,110,000 $85,625 $710 5.70%
    5 Year 13 $415,000 $31,923 $587 4.48%

    For 2018, Nextmark's most frequently cited loan duration was 30 Year, with 462 originations. The 2nd most popular length was 10 Year, with 234 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 371 $42,555,000 $114,704

    Nextmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 371 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 531 $62,405,000 $117,524
    6-7% 179 $23,805,000 $132,989
    4-5% 113 $12,705,000 $112,434
    7-8% 9 $645,000 $71,667
    3-4% 2 $50,000 $25,000

    During 2018, Nextmark's average interest rate for loans was 5.67%, while their most frequently originated rate bucket for loans was 5-6%, with 531 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 417 $26,395,000 $63,297 $629 5.65%
    $100k-200k 293 $40,235,000 $137,321 $690 5.80%
    $200k-400k 125 $33,045,000 $264,360 $945 5.66%

    2018 saw Nextmark place emphasis on $100,000 or less loans with 417 originations, totaling $26,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 355 $44,065,000 $124,127 $678 5.72%
    $250k+ 236 $37,390,000 $158,432 $759 5.77%
    $100k-150k 162 $13,130,000 $81,049 $660 5.70%
    $75k-100k 50 $3,470,000 $69,400 $600 5.55%
    $50k-75k 29 $1,555,000 $53,621 $551 5.45%
    $50k or less 3 $65,000 $21,667 $692 4.75%

    Nextmark lent most frequently to those with incomes in the $150k-250k range, with 355 originations. The second most popular income band? $250k+, with 236 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 176 $19,960,000 $113,409 $670 5.65%
    30-36% 132 $14,000,000 $106,061 $690 5.65%
    42% 55 $6,805,000 $123,727 $682 5.80%
    39% 54 $5,840,000 $108,148 $667 5.92%
    43% 52 $7,770,000 $149,423 $773 5.87%
    41% 47 $5,975,000 $127,128 $671 5.70%
    38% 44 $5,330,000 $121,136 $634 5.73%
    40% 38 $4,560,000 $120,000 $728 5.88%
    37% 34 $4,420,000 $130,000 $797 5.76%
    <20% 33 $4,025,000 $121,970 $692 5.68%
    45% 30 $4,110,000 $137,000 $0 5.70%
    36% 27 $3,095,000 $114,630 $731 5.74%
    44% 27 $3,015,000 $111,667 $0 5.70%
    47% 19 $1,745,000 $91,842 $539 5.59%
    48% 19 $1,995,000 $105,000 $0 5.51%
    46% 17 $2,195,000 $129,118 $0 5.47%
    50-60% 16 $2,630,000 $164,375 $536 5.56%
    49% 12 $1,820,000 $151,667 $536 5.35%
    >60% 3 $385,000 $128,333 $0 5.50%

    Nextmark lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 550 $64,590,000 $117,436 $702 5.70%
    Not provided 105 $12,975,000 $123,571 $664 5.68%
    Asian 98 $12,190,000 $124,388 $613 5.68%
    Black 74 $8,970,000 $121,216 $724 5.81%
    American Indian 4 $400,000 $100,000 $0 5.75%
    1 $335,000 $335,000 $1,129 5.50%
    Native Hawaiian or Islander 2 $170,000 $85,000 $806 6.13%
    Other Asian 1 $45,000 $45,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    75.40%

    Nextmark has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.36%

    Nextmark has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 101 $11,375,000 $112,624
    119.0 4 $520,000 $130,000
    NA 730 $87,780,000 $120,247

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 835 $99,675,000 $119,371

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 220 $43,320,000 $196,909 $811 5.74%
    40-60% 10 $2,450,000 $245,000 $1,021 5.10%
    60-80% 3 $565,000 $188,333 $436 5.84%
    80-100% 1 $185,000 $185,000 $0 5.75%
    Under 20% 601 $53,155,000 $88,444 $659 5.70%