Nextmark Mortgage Rates, Fees & Info
Fairfax, VALEI: 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, Charlottesville, Virginia Beach, and Raleigh among others. We have data for 22 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. Nextmark 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.83% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
826Origination Dollar Volume (All Markets)
$105,770,000Top 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) | 584 | $75,210,000 | $128,784 | $752 | 5.90% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 141 | $20,165,000 | $143,014 | $789 | 5.99% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 13 | $1,525,000 | $117,308 | $838 | 5.98% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 12 | $1,310,000 | $109,167 | $783 | 5.79% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 9 | $1,285,000 | $142,778 | $607 | 5.86% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $1,275,000 | $75,000 | $967 | 6.21% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 12 | $1,270,000 | $105,833 | $711 | 6.23% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 6 | $640,000 | $106,667 | $669 | 6.32% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 6.13% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 4 | $300,000 | $75,000 | $694 | 5.85% |
| LYNCHBURG, VA (FHA|USDA|VA) | 4 | $300,000 | $75,000 | $0 | 6.25% |
| Outside of Metro Areas | 6 | $290,000 | $48,333 | $716 | 5.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $381 | 5.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 6.08% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 6.50% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,554 | 5.50% |
| Easton, MD (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $878 | 5.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 6.17% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 6.00% |
| Sanford, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $987 | 5.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 499 | $65,385,000 | $131,032 | n/a | 6.04% |
| Conventional | 327 | $40,385,000 | $123,502 | $761 | 5.75% |
For 2019, Nextmark's most frequently originated type of loan was HELOC, with 499 originations. Their 2nd most popular type was Conventional, with 327 originations.
Loan Reason
For 2019, Nextmark's most frequently cited loan purpose was Home Purchase, with 326 originations. The 2nd most popular reason was Home Improvement, with 198 originations.
Loan Duration/Length
For 2019, Nextmark's most frequently cited loan duration was 30 Year, with 496 originations. The 2nd most popular length was 10 Year, with 205 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 327 | $40,385,000 | $123,502 |
Nextmark's average total fees were $574, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 327 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 371 | $48,865,000 | $131,712 |
| 5-6% | 340 | $45,060,000 | $132,529 |
| 4-5% | 89 | $9,215,000 | $103,539 |
| 7-8% | 26 | $2,630,000 | $101,154 |
During 2019, Nextmark's average interest rate for loans was 6.04%, while their most frequently originated rate bucket for loans was 6-7%, with 371 originations.
Loan Sizing
2019 saw Nextmark place emphasis on $100,000 or less loans with 370 originations, totaling $22,690,000 in origination value.
Applicant Income
Nextmark lent most frequently to those with incomes in the $150k-250k range, with 344 originations. The second most popular income band? $250k+, with 249 originations.
Applicant Debt to Income Ratio
Nextmark lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 144 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.67%
Nextmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination83.66%
Nextmark has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 499 | $65,385,000 | $131,032 |
| NA | 327 | $40,385,000 | $123,502 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 826 | $105,770,000 | $128,051 |