Mission Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300IOX9BEK4O4M683

Tax ID: 81-3313999

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mission Mortgage is a smaller mortgage company specializing in Home Purchase loans. Mission Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Baltimore, Pittsburgh, and Punta Gorda among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mission Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mission Mortgage is typically an average 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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    Originations

    132

    Origination Dollar Volume (All Markets)

    $65,860,000

    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) 117 $61,045,000 $521,752 $8,512 4.45%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 11 $3,735,000 $339,545 $6,424 4.28%
    Outside of Metro Areas 2 $730,000 $365,000 $6,874 4.75%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $205,000 $205,000 $6,445 5.63%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,911 3.75%
    Mission Mortgage's top markets include Washington, Baltimore, Pittsburgh, and Punta Gorda among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MISSION MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 94
    North Jersey Federal Credit Union
    Similarity Rank: 124
    The First National Bank of Long Island
    Similarity Rank: 142
    POINT BREEZE
    Similarity Rank: 144
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 156
    We Florida Financial
    Similarity Rank: 156
    N C P D Federal Credit Union
    Similarity Rank: 201
    RAILROAD & INDUSTRIAL
    Similarity Rank: 335

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 112 $55,070,000 $491,696 $6,967 4.43%
    VA 11 $7,715,000 $701,364 $19,404 4.53%
    FHA 8 $2,790,000 $348,750 $11,405 4.50%
    USDA 1 $285,000 $285,000 $6,715 4.13%

    For 2022, Mission Mortgage's most frequently originated type of loan was Conventional, with 112 originations. Their 2nd most popular type was VA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 122 $61,800,000 $506,557 $8,530 4.51%
    Cash Out Refi 9 $3,905,000 $433,889 $4,974 3.73%
    Refi 1 $155,000 $155,000 $6,236 3.25%

    For 2022, Mission Mortgage's most frequently cited loan purpose was Home Purchase, with 122 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 126 $64,050,000 $508,333 $8,445 4.49%
    10 Year 2 $790,000 $395,000 $3,457 3.18%
    15 Year 2 $550,000 $275,000 $7,323 4.13%
    20 Year 1 $255,000 $255,000 $2,997 3.25%
    Other 1 $215,000 $215,000 $3,105 3.63%

    For 2022, Mission Mortgage's most frequently cited loan duration was 30 Year, with 126 originations. The 2nd most popular length was 10 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 91 $41,325,000 $454,121
    $5k+ 24 $17,870,000 $744,583
    $2k-3k 8 $2,400,000 $300,000
    $3k-4k 6 $3,200,000 $533,333
    $4k-5k 3 $1,065,000 $355,000

    Mission Mortgage's average total fees were $8,445, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 91 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 47 $23,855,000 $507,553
    4-5% 45 $24,625,000 $547,222
    5-6% 32 $12,520,000 $391,250
    2.5-3% 5 $2,225,000 $445,000
    6-7% 2 $2,190,000 $1,095,000
    7-8% 1 $445,000 $445,000

    During 2022, Mission Mortgage's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 3-4%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 50 $15,050,000 $301,000 $6,024 4.42%
    $400k-600k 43 $20,685,000 $481,047 $7,727 4.48%
    $600k-1MM 23 $16,745,000 $728,043 $11,157 4.27%
    $100k-200k 9 $1,455,000 $161,667 $4,364 4.68%
    $1MM+ 7 $11,925,000 $1,703,571 $23,196 4.64%

    2022 saw Mission Mortgage place emphasis on $200k-400k loans with 50 originations, totaling $15,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 132 $65,860,000 $498,939 $8,271 4.44%

    Mission Mortgage lent most frequently to those with incomes in the $50k or less range, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $14,480,000 $556,923 $9,436 4.95%
    20-30% 22 $10,750,000 $488,636 $7,123 4.39%
    <20% 14 $6,900,000 $492,857 $5,246 4.08%
    45% 11 $5,665,000 $515,000 $12,153 4.02%
    41% 9 $5,185,000 $576,111 $7,335 4.11%
    36% 7 $3,285,000 $469,286 $7,368 4.44%
    48% 6 $2,500,000 $416,667 $5,801 4.77%
    42% 5 $2,655,000 $531,000 $6,702 3.70%
    38% 5 $2,145,000 $429,000 $5,745 3.82%
    50-60% 4 $2,160,000 $540,000 $17,038 5.03%
    46% 4 $1,390,000 $347,500 $6,028 5.15%
    39% 3 $1,055,000 $351,667 $5,379 3.92%
    43% 3 $1,935,000 $645,000 $8,964 3.63%
    40% 3 $905,000 $301,667 $8,125 4.04%
    44% 3 $1,755,000 $585,000 $13,416 4.33%
    37% 3 $875,000 $291,667 $8,085 5.54%
    47% 2 $770,000 $385,000 $8,138 5.25%
    49% 2 $1,450,000 $725,000 $13,732 5.19%

    Mission Mortgage lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 20-30%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $31,680,000 $528,000 $7,773 4.52%
    Not provided 38 $16,760,000 $441,053 $6,841 4.37%
    Black 26 $12,810,000 $492,692 $10,339 4.35%
    Asian 6 $4,190,000 $698,333 $14,630 4.67%
    American Indian 2 $420,000 $210,000 $4,407 4.25%

    Approval Rates

    Total approvals of all applications
    95.88%

    Mission Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    65.15%

    Mission Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 132 $65,860,000 $498,939

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    132 $65,860,000 $498,939

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $460,000 $230,000 $3,917 4.06%
    40-60% 14 $7,230,000 $516,429 $6,660 4.48%
    60-80% 32 $16,220,000 $506,875 $6,960 4.48%
    80-100% 79 $37,745,000 $477,785 $7,808 4.43%
    Over 100% 5 $4,205,000 $841,000 $30,215 4.52%