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 Cash Out Refi, Home Improvement, and Home Purchase loans. Nextmark has an average proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Charlotte, Richmond, and Virginia Beach among others. We have data for 21 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 about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.83% | 4/30/24 |
| 15 Year Conventional Refi | 5.68% | 4/30/24 |
| 15 Year Cash-out Refi | 5.68% | 4/30/24 |
| 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. | ||
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Originations
661Origination Dollar Volume (All Markets)
$93,405,000Top 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) | 409 | $60,085,000 | $146,907 | $333 | 4.04% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 164 | $23,310,000 | $142,134 | $300 | 4.15% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 12 | $2,040,000 | $170,000 | $844 | 4.16% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $1,525,000 | $89,706 | $0 | 4.39% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 12 | $1,480,000 | $123,333 | $0 | 4.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 13 | $1,075,000 | $82,692 | $333 | 4.35% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $0 | 3.56% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $345 | 4.75% |
| Outside of Metro Areas | 4 | $500,000 | $125,000 | $0 | 4.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $460,000 | $76,667 | $0 | 3.79% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 3.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 4.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.75% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 3.88% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 4.25% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 4.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.00% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 589 | $84,775,000 | $143,930 | n/a | 3.90% |
| Conventional | 72 | $8,630,000 | $119,861 | $307 | 5.62% |
For 2021, Nextmark's most frequently originated type of loan was HELOC, with 589 originations. Their 2nd most popular type was Conventional, with 72 originations.
Loan Reason
For 2021, Nextmark's most frequently cited loan purpose was Cash Out Refi, with 209 originations. The 2nd most popular reason was Home Improvement, with 189 originations.
Loan Duration/Length
For 2021, Nextmark's most frequently cited loan duration was 30 Year, with 585 originations. The 2nd most popular length was 10 Year, with 34 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 72 | $8,630,000 | $119,861 |
Nextmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 314 | $46,790,000 | $149,013 |
| 3-4% | 179 | $26,475,000 | $147,905 |
| 2.5-3% | 116 | $13,320,000 | $114,828 |
| 6-7% | 32 | $4,230,000 | $132,188 |
| 5-6% | 20 | $2,590,000 | $129,500 |
During 2021, Nextmark's average interest rate for loans was 3.90%, while their most frequently originated rate bucket for loans was 4-5%, with 314 originations.
Loan Sizing
2021 saw Nextmark place emphasis on $100,000 or less loans with 255 originations, totaling $16,875,000 in origination value.
Applicant Income
Nextmark lent most frequently to those with incomes in the $150k-250k range, with 289 originations. The second most popular income band? $250k+, with 192 originations.
Applicant Debt to Income Ratio
Nextmark lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 120 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.86%
Nextmark has a below average approval rate.
Pick Rate
Approvals leading to origination78.82%
Nextmark has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 183 | $24,285,000 | $132,705 |
| NA | 478 | $69,120,000 | $144,603 |