Mortgage 1 Incorporated Rates, Fees & Info
STERLING HEIGHTS, MILEI: 549300IWE0Y507LPF493
Tax ID: 38-3133176
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mortgage 1 Incorporated is a small mortgage company specializing in loans. Mortgage 1 Incorporated has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA 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: Detroit, Grand Rapids, Cape Coral, Muskegon, and Ann Arbor among others. We have data for 92 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage 1 Incorporated 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. Mortgage 1 Incorporated 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.97% | 1/29/23 |
| 30 Year Conventional Refi | 6.72% | 1/29/23 |
| 30 Year Cash-out Refi | 6.93% | 1/29/23 |
| 30 Year FHA Purchase | 8.02% | 1/29/23 |
| 30 Year FHA Refi | 7.39% | 1/29/23 |
| 30 Year VA Purchase | 6.68% | 1/29/23 |
| 30 Year VA Refi | 6.35% | 1/29/23 |
| 30 Year USDA Purchase | 7.24% | 1/29/23 |
| 30 Year USDA Refi | 6.83% | 1/29/23 |
| 15 Year Conventional Purchase | 6.21% | 1/29/23 |
| 15 Year Conventional Refi | 6.14% | 1/29/23 |
| 15 Year Cash-out Refi | 6.14% | 1/29/23 |
| 15 Year FHA Refi | 5.68% | 1/29/23 |
| 15 Year VA Purchase | 6.18% | 1/29/23 |
| 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. | ||
Originations
10,053Origination Dollar Volume (All Markets)
$2,001,765,000Relative Rate
Mortgage 1 Incorporated's average 30 year fixed mortgage rate was
3.39%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.24%.
Relative Fees (Closing Costs)
Mortgage 1 Incorporated's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,784.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 5,102 | $1,024,100,000 | $200,725 | $4,223 | 3.28% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1,015 | $211,765,000 | $208,635 | $4,469 | 3.31% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 596 | $162,270,000 | $272,265 | $5,716 | 3.23% |
| MUSKEGON, MI (FHA|USDA|VA) | 586 | $96,760,000 | $165,119 | $4,133 | 3.38% |
| ANN ARBOR, MI (FHA|USDA|VA) | 345 | $80,995,000 | $234,768 | $3,680 | 3.21% |
| Outside of Metro Areas | 387 | $64,735,000 | $167,274 | $4,515 | 3.31% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 353 | $48,985,000 | $138,768 | $4,443 | 3.33% |
| JACKSON, MI (FHA|USDA|VA) | 324 | $48,820,000 | $150,679 | $5,126 | 3.36% |
| FLINT, MI (FHA|USDA|VA) | 277 | $48,335,000 | $174,495 | $4,747 | 3.28% |
| MONROE, MI (FHA|USDA|VA) | 151 | $27,375,000 | $181,291 | $5,475 | 3.35% |
| Holland, MI (FHA|USDA|VA) | 90 | $18,170,000 | $201,889 | $4,702 | 3.38% |
| Ludington, MI (FHA|USDA|VA) | 66 | $12,390,000 | $187,727 | $4,954 | 3.20% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 37 | $11,495,000 | $310,676 | $5,599 | 3.18% |
| Adrian, MI (FHA|USDA|VA) | 62 | $11,050,000 | $178,226 | $4,367 | 3.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 17 | $11,035,000 | $649,118 | $6,474 | 3.01% |
| WICHITA, KS (FHA|USDA|VA) | 61 | $10,495,000 | $172,049 | $5,271 | 3.46% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 52 | $9,560,000 | $183,846 | $5,179 | 3.45% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 62 | $9,490,000 | $153,065 | $4,828 | 3.46% |
| Cadillac, MI (FHA|USDA|VA) | 55 | $8,545,000 | $155,364 | $4,933 | 3.35% |
| SAGINAW, MI (FHA|USDA|VA) | 48 | $7,320,000 | $152,500 | $4,469 | 3.40% |
| Hillsdale, MI (FHA|USDA|VA) | 41 | $6,905,000 | $168,415 | $5,519 | 3.28% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 17 | $5,235,000 | $307,941 | $5,139 | 3.14% |
| Traverse City, MI (FHA|USDA|VA) | 20 | $4,540,000 | $227,000 | $4,361 | 3.21% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 23 | $4,005,000 | $174,130 | $4,787 | 3.27% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 16 | $3,840,000 | $240,000 | $4,636 | 3.10% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 12 | $3,460,000 | $288,333 | $9,551 | 3.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $3,355,000 | $305,000 | $5,468 | 3.03% |
| Big Rapids, MI (FHA|USDA|VA) | 21 | $3,095,000 | $147,381 | $3,910 | 3.33% |
| MIDLAND, MI (FHA|USDA|VA) | 18 | $3,020,000 | $167,778 | $4,558 | 3.54% |
| NILES, MI (FHA|USDA|VA) | 14 | $2,730,000 | $195,000 | $5,036 | 3.67% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 9 | $2,365,000 | $262,778 | $6,042 | 3.26% |
| Alma, MI (FHA|USDA|VA) | 15 | $2,025,000 | $135,000 | $4,807 | 3.32% |
| TOLEDO, OH (FHA|USDA|VA) | 14 | $1,820,000 | $130,000 | $5,419 | 3.55% |
| Coldwater, MI (FHA|USDA|VA) | 9 | $1,815,000 | $201,667 | $3,325 | 3.12% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 6 | $1,610,000 | $268,333 | $2,651 | 3.14% |
| Helena, MT (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $7,221 | 3.21% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $1,505,000 | $301,000 | $9,628 | 3.12% |
| COLUMBUS, OH (FHA|USDA|VA) | 5 | $1,455,000 | $291,000 | $4,354 | 3.25% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $1,375,000 | $275,000 | $4,985 | 3.67% |
| GREAT FALLS, MT (FHA|USDA|VA) | 6 | $1,370,000 | $228,333 | $6,521 | 3.48% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $6,142 | 3.59% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $1,035,000 | $207,000 | $3,545 | 3.13% |
| Mount Pleasant, MI (FHA|USDA|VA) | 6 | $970,000 | $161,667 | $6,611 | 3.44% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $5,139 | 3.29% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $3,881 | 2.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $6,374 | 3.34% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $5,016 | 3.60% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $4,946 | 3.50% |
| Alpena, MI (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $4,790 | 3.47% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $4,179 | 2.25% |
| Houghton, MI (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,121 | 3.38% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,134 | 2.13% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $6,610 | 3.50% |
| Clewiston, FL (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $5,829 | 2.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,250 | 3.18% |
| Key West, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $11,810 | 2.75% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $3,341 | 3.46% |
| Sidney, OH (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $6,494 | 3.24% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $18,855 | 2.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,003 | 2.68% |
| BAY CITY, MI (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $3,159 | 3.62% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,251 | 2.99% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,625 | 2.99% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $6,126 | 3.31% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,001 | 2.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,848 | 2.63% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,400 | 2.88% |
| Sturgis, MI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,212 | 3.56% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $564 | 3.63% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,219 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,984 | 3.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,314 | 2.99% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,468 | 3.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,061 | 2.99% |
| Palatka, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,627 | 3.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,327 | 3.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,837 | 3.25% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,015 | 2.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,893 | 3.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,584 | 2.99% |
| OCALA, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,262 | 3.38% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,710 | 3.99% |
| Marquette, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,612 | 3.13% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,108 | 2.99% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,819 | 3.25% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,707 | 2.75% |
| Winfield, KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,394 | 4.25% |
| Angola, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,494 | 3.63% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,888 | 3.25% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,901 | 3.99% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,071 | 2.99% |
| Greenville, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $5,192 | 3.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE 1 INCORPORATED based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 28
Similarity Rank: 84
Similarity Rank: 144
Similarity Rank: 154
Similarity Rank: 168
Similarity Rank: 192
Similarity Rank: 204
Similarity Rank: 270
Similarity Rank: 310
Similarity Rank: 350
Product Mix
For 2021, Mortgage 1 Incorporated's most frequently originated type of loan was Conventional, with 7,599 originations. Their 2nd most popular type was FHA, with 1,864 originations.
Loan Reason
For 2021, Mortgage 1 Incorporated's most frequently cited loan purpose was Home Purchase, with 6,357 originations. The 2nd most popular reason was Refi, with 2,030 originations.
Loan Duration/Length
For 2021, Mortgage 1 Incorporated's most frequently cited loan duration was 30 Year, with 8,309 originations. The 2nd most popular length was 15 Year, with 1,100 originations.
Origination Fees/Closing Costs
Mortgage 1 Incorporated's average total fees were $4,784, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 5,938 originations.
Interest Rates
During 2021, Mortgage 1 Incorporated's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 3-4%, with 6,459 originations.
Loan Sizing
2021 saw Mortgage 1 Incorporated place emphasis on $100k-200k loans with 4,849 originations, totaling $725,265,000 in origination value.
Applicant Income
Mortgage 1 Incorporated lent most frequently to those with incomes in the $50k-75k range, with 2,903 originations. The second most popular income band? $50k or less, with 2,689 originations.
Applicant Debt to Income Ratio
Mortgage 1 Incorporated lent most frequently to those with DTI ratios of 20-30%, with 2,103 originations. The next most common DTI ratio? 30-36%, with 2,012 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.13%
Mortgage 1 Incorporated has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.06%
Mortgage 1 Incorporated has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10,053 | $2,001,765,000 | $199,121 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10,053 | $2,001,765,000 | $199,121 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE 1 INCORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |