Mission Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300IOX9BEK4O4M683
Tax ID: 81-3313999
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Mortgage Data
Review & Overview
Mission Mortgage is a smaller mortgage company specializing in Home Purchase and Refi 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, Philadelphia, Winchester, and Charlottesville among others. We have data for 14 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.46% | 11/21/24 |
| 30 Year Conventional Refi | 5.88% | 11/21/24 |
| 30 Year Cash-out Refi | 6.58% | 11/21/24 |
| 30 Year FHA Purchase | 7.60% | 11/21/24 |
| 30 Year VA Purchase | 6.18% | 11/21/24 |
| 30 Year USDA Purchase | 6.94% | 11/21/24 |
| 15 Year Conventional Purchase | 6.65% | 11/21/24 |
| 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. | ||
Mission Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
273Origination Dollar Volume (All Markets)
$136,665,000Top 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) | 222 | $118,640,000 | $534,414 | $5,622 | 2.96% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 36 | $12,670,000 | $351,944 | $4,001 | 3.08% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $4,138 | 2.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $6,349 | 3.06% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,385 | 3.06% |
| Outside of Metro Areas | 1 | $545,000 | $545,000 | $4,152 | 3.13% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $9,942 | 2.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,904 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,365 | 2.99% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,735 | 3.13% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,704 | 2.88% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,995 | 2.99% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,466 | 2.75% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,340 | 4.38% |
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.
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Product Mix
For 2021, Mission Mortgage's most frequently originated type of loan was Conventional, with 240 originations. Their 2nd most popular type was VA, with 19 originations.
Loan Reason
For 2021, Mission Mortgage's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Refi, with 89 originations.
Loan Duration/Length
For 2021, Mission Mortgage's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was 15 Year, with 19 originations.
Origination Fees/Closing Costs
Mission Mortgage's average total fees were $5,598, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 238 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 169 | $87,995,000 | $520,680 |
| 3-4% | 81 | $37,775,000 | $466,358 |
| <2.5% | 18 | $9,490,000 | $527,222 |
| 4-5% | 5 | $1,405,000 | $281,000 |
During 2021, Mission Mortgage's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 169 originations.
Loan Sizing
2021 saw Mission Mortgage place emphasis on $200k-400k loans with 96 originations, totaling $29,060,000 in origination value.
Applicant Income
Mission Mortgage lent most frequently to those with incomes in the $150k-250k range, with 80 originations. The second most popular income band? $100k-150k, with 70 originations.
Applicant Debt to Income Ratio
Mission Mortgage lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 59 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.67%
Mission Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination64.47%
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 | 273 | $136,665,000 | $500,604 |