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 and Home Improvement loans. Nextmark has an average proportion of conventional 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: Washington, Baltimore, Charlotte, Raleigh, and Richmond among others. We have data for 27 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 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.

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% 12/16/24
15 Year Conventional Refi 5.68% 12/16/24
15 Year Cash-out Refi 5.68% 12/16/24
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

918

Origination Dollar Volume (All Markets)

$122,270,000

Top Markets

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    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) 560 $76,670,000 $136,911 $766 4.47%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 225 $28,495,000 $126,644 $552 4.39%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 29 $4,135,000 $142,586 $0 4.13%
    RALEIGH-CARY, NC (FHA|USDA|VA) 19 $2,225,000 $117,105 $811 4.23%
    RICHMOND, VA (FHA|USDA|VA) 19 $2,075,000 $109,211 $802 4.66%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 12 $1,470,000 $122,500 $665 4.68%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $1,290,000 $215,000 $0 4.04%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $860,000 $143,333 $749 3.50%
    Easton, MD (FHA|USDA|VA) 3 $685,000 $228,333 $949 4.08%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $620,000 $155,000 $0 3.63%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $470,000 $117,500 $678 4.25%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 5 $445,000 $89,000 $669 4.78%
    WINSTON-SALEM, NC (FHA|USDA|VA) 4 $440,000 $110,000 $680 4.16%
    WILMINGTON, NC (FHA|USDA|VA) 2 $400,000 $200,000 $493 5.01%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $295,000 $295,000 $0 4.25%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.25%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $215,000 $215,000 $0 4.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $190,000 $95,000 $694 4.58%
    ROANOKE, VA (FHA|USDA|VA) 2 $170,000 $85,000 $0 3.63%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.50%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $150,000 $75,000 $0 4.25%
    Outside of Metro Areas 4 $140,000 $35,000 $703 5.68%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.25%
    Morehead City, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.75%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.25%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $70,000 $35,000 $0 4.88%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $45,000 $45,000 $744 6.91%
    Nextmark's top markets include Washington, Baltimore, Charlotte, Raleigh, and Richmond 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 725 $100,565,000 $138,710 n/a 4.13%
    Conventional 191 $21,285,000 $111,440 $725 5.59%
    FHA 2 $420,000 $210,000 $0 5.13%

    For 2020, Nextmark's most frequently originated type of loan was HELOC, with 725 originations. Their 2nd most popular type was Conventional, with 191 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 339 $54,045,000 $159,425 $684 4.52%
    Home Improvement 232 $24,870,000 $107,198 $750 4.39%
    Refi 147 $18,405,000 $125,204 $635 4.13%
    Cash Out Refi 110 $18,060,000 $164,182 $859 4.52%
    Other 90 $6,890,000 $76,556 $763 4.62%

    For 2020, Nextmark's most frequently cited loan purpose was Home Purchase, with 339 originations. The 2nd most popular reason was Home Improvement, with 232 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 722 $100,680,000 $139,446 $514 4.13%
    10 Year 116 $14,600,000 $125,862 $741 5.38%
    20 Year 38 $3,660,000 $96,316 $750 6.35%
    15 Year 32 $2,910,000 $90,938 $639 5.57%
    5 Year 10 $420,000 $42,000 $728 4.45%

    For 2020, Nextmark's most frequently cited loan duration was 30 Year, with 722 originations. The 2nd most popular length was 10 Year, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 191 $21,285,000 $111,440

    Nextmark's average total fees were $514, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 191 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 391 $52,775,000 $134,974
    3-4% 216 $33,520,000 $155,185
    5-6% 143 $17,635,000 $123,322
    2.5-3% 94 $9,440,000 $100,426
    6-7% 72 $8,780,000 $121,944
    7-8% 2 $120,000 $60,000

    During 2020, Nextmark's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was 4-5%, with 391 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 414 $26,340,000 $63,623 $676 4.44%
    $100k-200k 316 $44,130,000 $139,652 $701 4.48%
    $200k-400k 176 $46,940,000 $266,705 $970 4.39%
    $400k-600k 12 $4,860,000 $405,000 $0 3.77%

    2020 saw Nextmark place emphasis on $100,000 or less loans with 414 originations, totaling $26,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 404 $50,850,000 $125,866 $732 4.44%
    $250k+ 303 $52,505,000 $173,284 $716 4.43%
    $100k-150k 144 $14,150,000 $98,264 $733 4.47%
    $75k-100k 42 $3,160,000 $75,238 $677 4.47%
    $50k-75k 23 $1,445,000 $62,826 $720 4.28%
    $50k or less 2 $160,000 $80,000 $694 3.95%

    Nextmark lent most frequently to those with incomes in the $150k-250k range, with 404 originations. The second most popular income band? $250k+, with 303 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 239 $28,365,000 $118,682 $711 4.32%
    30-36% 219 $28,755,000 $131,301 $716 4.58%
    <20% 71 $9,595,000 $135,141 $540 4.22%
    43% 40 $5,740,000 $143,500 $872 4.29%
    41% 37 $5,185,000 $140,135 $860 4.73%
    38% 37 $5,145,000 $139,054 $707 4.65%
    42% 36 $4,370,000 $121,389 $695 4.65%
    40% 36 $4,140,000 $115,000 $837 4.69%
    44% 35 $5,495,000 $157,000 $0 4.12%
    39% 32 $4,850,000 $151,563 $744 4.29%
    37% 31 $4,885,000 $157,581 $781 4.69%
    36% 31 $4,515,000 $145,645 $754 4.55%
    45% 31 $4,165,000 $134,355 $744 4.45%
    47% 11 $2,095,000 $190,455 $0 4.11%
    48% 10 $1,490,000 $149,000 $0 4.00%
    46% 9 $1,355,000 $150,556 $0 4.39%
    50-60% 7 $885,000 $126,429 $0 4.18%
    49% 6 $1,240,000 $206,667 $0 3.79%

    Nextmark lent most frequently to those with DTI ratios of 20-30%, with 239 originations. The next most common DTI ratio? 30-36%, with 219 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 584 $76,400,000 $130,822 $726 4.36%
    Not provided 195 $27,015,000 $138,538 $710 4.57%
    Asian 64 $9,210,000 $143,906 $732 4.37%
    Black 62 $7,810,000 $125,968 $761 4.83%
    Asian Indian 8 $1,200,000 $150,000 $0 4.34%
    American Indian 3 $405,000 $135,000 $744 4.38%
    Other Asian 2 $230,000 $115,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    69.24%

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

    Pick Rate

    Approvals leading to origination
    79.85%

    Nextmark has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 727 $100,985,000 $138,906
    NA 191 $21,285,000 $111,440

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $175,000 $175,000
    Single Family (1-4 Units):Site-Built 917 $122,095,000 $133,146

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 275 $59,375,000 $215,909 $853 4.40%
    40-60% 12 $3,170,000 $264,167 $1,623 4.44%
    60-80% 3 $895,000 $298,333 $0 3.75%
    80-100% 1 $295,000 $295,000 $0 4.25%
    Under 20% 627 $58,535,000 $93,357 $689 4.46%