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 loans. Nextmark has an average proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Richmond, Charleston, and Charlotte among others. We have data for 26 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 about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.83% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
718Origination Dollar Volume (All Markets)
$109,600,000Top 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) | 479 | $73,665,000 | $153,789 | $66 | 5.13% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 111 | $17,775,000 | $160,135 | $450 | 5.39% |
| RICHMOND, VA (FHA|USDA|VA) | 20 | $2,990,000 | $149,500 | $0 | 5.19% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 11 | $1,925,000 | $175,000 | $0 | 4.84% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 10 | $1,850,000 | $185,000 | $0 | 5.55% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 11 | $1,815,000 | $165,000 | $0 | 5.61% |
| Outside of Metro Areas | 16 | $1,630,000 | $101,875 | $424 | 5.31% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 13 | $1,395,000 | $107,308 | $0 | 5.07% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 10 | $1,150,000 | $115,000 | $0 | 4.70% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 9 | $1,135,000 | $126,111 | $2,354 | 4.89% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $0 | 4.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $0 | 5.58% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 3.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 5.13% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $0 | 4.69% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 5.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 8.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $987 | 6.59% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 5.38% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.75% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 568 | $90,780,000 | $159,824 | n/a | 5.02% |
| Conventional | 150 | $18,820,000 | $125,467 | $137 | 5.79% |
For 2022, Nextmark's most frequently originated type of loan was HELOC, with 568 originations. Their 2nd most popular type was Conventional, with 150 originations.
Loan Reason
For 2022, Nextmark's most frequently cited loan purpose was Cash Out Refi, with 591 originations. The 2nd most popular reason was Home Purchase, with 95 originations.
Loan Duration/Length
For 2022, Nextmark's most frequently cited loan duration was 30 Year, with 537 originations. The 2nd most popular length was 10 Year, with 72 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 150 | $18,820,000 | $125,467 |
Nextmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 150 originations.
Interest Rates
During 2022, Nextmark's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 211 originations.
Loan Sizing
2022 saw Nextmark place emphasis on $100k-200k loans with 260 originations, totaling $35,340,000 in origination value.
Applicant Income
Nextmark lent most frequently to those with incomes in the $150k-250k range, with 272 originations. The second most popular income band? $250k+, with 224 originations.
Applicant Debt to Income Ratio
Nextmark lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 128 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.75%
Nextmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination85.10%
Nextmark has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 718 | $109,600,000 | $152,646 |