Mortgage 1 Incorporated Rates, Fees & Info
STERLING HEIGHTS, MILEI: 549300IWE0Y507LPF493
Tax ID: 38-3133176
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Mortgage Data
Review & Overview
Mortgage 1 Incorporated is a small mortgage company specializing in Home Purchase 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. Their top markets by origination volume include: Detroit, Grand Rapids, Cape Coral, Muskegon, and Ann Arbor among others. We have data for 78 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 relatively high 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 | 6.98% | 12/4/23 |
| 30 Year Conventional Refi | 6.81% | 12/4/23 |
| 30 Year Cash-out Refi | 7.05% | 12/4/23 |
| 30 Year FHA Purchase | 7.64% | 12/4/23 |
| 30 Year FHA Refi | 7.37% | 12/4/23 |
| 30 Year VA Purchase | 6.47% | 12/4/23 |
| 30 Year VA Refi | 6.85% | 12/4/23 |
| 30 Year USDA Purchase | 6.96% | 12/4/23 |
| 30 Year USDA Refi | 6.09% | 12/4/23 |
| 15 Year Conventional Purchase | 6.27% | 12/4/23 |
| 15 Year Conventional Refi | 6.12% | 12/4/23 |
| 15 Year Cash-out Refi | 6.12% | 12/4/23 |
| 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. | ||
Mortgage 1 Incorporated Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mortgage 1 Incorporated. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5,549Origination Dollar Volume (All Markets)
$1,161,005,000Relative Rate
Mortgage 1 Incorporated's average 30 year fixed mortgage rate was
5.27%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.51%.
Relative Fees (Closing Costs)
Mortgage 1 Incorporated's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,781.
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) | 2,755 | $567,455,000 | $205,973 | $5,405 | 5.23% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 550 | $123,130,000 | $223,873 | $5,340 | 5.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 361 | $107,805,000 | $298,629 | $7,141 | 4.86% |
| MUSKEGON, MI (FHA|USDA|VA) | 328 | $58,990,000 | $179,848 | $5,510 | 5.29% |
| Outside of Metro Areas | 303 | $56,805,000 | $187,475 | $5,868 | 5.14% |
| ANN ARBOR, MI (FHA|USDA|VA) | 141 | $37,005,000 | $262,447 | $5,161 | 5.16% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 213 | $31,565,000 | $148,192 | $5,136 | 5.38% |
| JACKSON, MI (FHA|USDA|VA) | 199 | $31,085,000 | $156,206 | $6,163 | 5.18% |
| FLINT, MI (FHA|USDA|VA) | 140 | $25,630,000 | $183,071 | $5,362 | 5.24% |
| MONROE, MI (FHA|USDA|VA) | 75 | $16,495,000 | $219,933 | $7,233 | 5.15% |
| Holland, MI (FHA|USDA|VA) | 43 | $11,055,000 | $257,093 | $7,132 | 5.28% |
| Ludington, MI (FHA|USDA|VA) | 48 | $7,950,000 | $165,625 | $5,363 | 5.20% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 17 | $7,495,000 | $440,882 | $9,037 | 4.24% |
| Adrian, MI (FHA|USDA|VA) | 30 | $5,940,000 | $198,000 | $6,753 | 5.01% |
| SAGINAW, MI (FHA|USDA|VA) | 36 | $5,800,000 | $161,111 | $5,034 | 5.06% |
| Cadillac, MI (FHA|USDA|VA) | 27 | $5,115,000 | $189,444 | $6,883 | 5.07% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 26 | $4,470,000 | $171,923 | $5,960 | 5.33% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 25 | $3,975,000 | $159,000 | $5,828 | 5.56% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $3,630,000 | $363,000 | $8,067 | 4.76% |
| Traverse City, MI (FHA|USDA|VA) | 8 | $2,860,000 | $357,500 | $5,051 | 5.06% |
| NILES, MI (FHA|USDA|VA) | 9 | $2,645,000 | $293,889 | $4,950 | 4.54% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 9 | $2,615,000 | $290,556 | $8,398 | 4.57% |
| Big Rapids, MI (FHA|USDA|VA) | 15 | $2,545,000 | $169,667 | $5,927 | 5.05% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 8 | $2,450,000 | $306,250 | $6,137 | 5.23% |
| Hillsdale, MI (FHA|USDA|VA) | 13 | $2,245,000 | $172,692 | $6,203 | 5.22% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 12 | $2,240,000 | $186,667 | $6,153 | 5.04% |
| TOLEDO, OH (FHA|USDA|VA) | 15 | $2,185,000 | $145,667 | $6,447 | 5.80% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 5 | $1,945,000 | $389,000 | $6,060 | 4.95% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,790,000 | $298,333 | $5,178 | 4.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 12 | $1,750,000 | $145,833 | $5,002 | 4.37% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $1,680,000 | $840,000 | $5,486 | 4.37% |
| GREAT FALLS, MT (FHA|USDA|VA) | 5 | $1,635,000 | $327,000 | $5,977 | 4.70% |
| Alma, MI (FHA|USDA|VA) | 10 | $1,460,000 | $146,000 | $6,070 | 5.29% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $8,430 | 5.63% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $13,210 | 5.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $12,765 | 5.00% |
| Coldwater, MI (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $5,407 | 4.54% |
| Helena, MT (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $3,747 | 6.29% |
| MIDLAND, MI (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $6,507 | 5.13% |
| Marquette, MI (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $4,318 | 4.44% |
| Clewiston, FL (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $8,844 | 2.90% |
| BAY CITY, MI (FHA|USDA|VA) | 7 | $685,000 | $97,857 | $5,129 | 6.14% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $9,031 | 4.31% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $5,552 | 5.81% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $10,397 | 5.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $10,613 | 6.00% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $5,443 | 7.25% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,053 | 5.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,987 | 4.66% |
| Mount Pleasant, MI (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $4,576 | 4.37% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,657 | 5.75% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $7,459 | 6.19% |
| Alpena, MI (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $4,063 | 4.33% |
| Sidney, OH (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,526 | 6.99% |
| Sturgis, MI (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $8,200 | 5.13% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,092 | 4.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,818 | 5.75% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,014 | 6.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,950 | 4.88% |
| Greenville, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,026 | 5.00% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,436 | 4.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,363 | 3.63% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,992 | 6.25% |
| Corsicana, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,714 | 4.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,534 | 4.19% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,986 | 5.88% |
| AKRON, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,763 | 6.50% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 4.06% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,585 | 5.50% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,933 | 6.99% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,054 | 3.88% |
| Urbana, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,717 | 5.50% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,018 | 5.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,776 | 5.50% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,578 | 6.99% |
| OCALA, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,478 | 4.50% |
| Houghton, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,867 | 6.88% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,149 | 4.63% |
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Product Mix
For 2022, Mortgage 1 Incorporated's most frequently originated type of loan was Conventional, with 4,009 originations. Their 2nd most popular type was FHA, with 1,193 originations.
Loan Reason
For 2022, Mortgage 1 Incorporated's most frequently cited loan purpose was Home Purchase, with 4,742 originations. The 2nd most popular reason was Cash Out Refi, with 564 originations.
Loan Duration/Length
For 2022, Mortgage 1 Incorporated's most frequently cited loan duration was 30 Year, with 5,199 originations. The 2nd most popular length was 15 Year, with 254 originations.
Origination Fees/Closing Costs
Mortgage 1 Incorporated's average total fees were $5,781, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,164 originations.
Interest Rates
During 2022, Mortgage 1 Incorporated's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 5-6%, with 2,082 originations.
Loan Sizing
2022 saw Mortgage 1 Incorporated place emphasis on $100k-200k loans with 2,581 originations, totaling $390,535,000 in origination value.
Applicant Income
Mortgage 1 Incorporated lent most frequently to those with incomes in the $50k-75k range, with 1,644 originations. The second most popular income band? $50k or less, with 1,304 originations.
Applicant Debt to Income Ratio
Mortgage 1 Incorporated lent most frequently to those with DTI ratios of 30-36%, with 1,108 originations. The next most common DTI ratio? 20-30%, with 955 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.01%
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 origination73.42%
Mortgage 1 Incorporated has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,549 | $1,161,005,000 | $209,228 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,549 | $1,161,005,000 | $209,228 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Mortgage Research Center, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Mortgage Research Center, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |