Mortgage 1 Incorporated Rates, Fees & Info
STERLING HEIGHTS, MILEI: 549300IWE0Y507LPF493
Tax ID: 38-3133176
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mortgage 1 Incorporated is a small mortgage company specializing in Home Purchase and Refi 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 60 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 a low 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 | 6.98% | 12/16/24 |
| 30 Year Conventional Refi | 6.81% | 12/16/24 |
| 30 Year Cash-out Refi | 7.05% | 12/16/24 |
| 30 Year FHA Purchase | 7.64% | 12/16/24 |
| 30 Year FHA Refi | 7.37% | 12/16/24 |
| 30 Year VA Purchase | 6.47% | 12/16/24 |
| 30 Year VA Refi | 6.85% | 12/16/24 |
| 30 Year USDA Purchase | 6.96% | 12/16/24 |
| 30 Year USDA Refi | 6.09% | 12/16/24 |
| 15 Year Conventional Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Refi | 6.12% | 12/16/24 |
| 15 Year Cash-out Refi | 6.12% | 12/16/24 |
| 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. | ||
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
7,091Origination Dollar Volume (All Markets)
$1,233,845,000Awards
MORTGAGE 1 INCORPORATED - 2019
MORTGAGE 1 INCORPORATED is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
Work for MORTGAGE 1 INCORPORATED?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 3,861 | $683,265,000 | $176,966 | $4,127 | 4.34% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 697 | $131,385,000 | $188,501 | $3,892 | 4.30% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 350 | $76,030,000 | $217,229 | $5,424 | 4.31% |
| MUSKEGON, MI (FHA|USDA|VA) | 456 | $64,440,000 | $141,316 | $4,015 | 4.50% |
| ANN ARBOR, MI (FHA|USDA|VA) | 237 | $54,265,000 | $228,966 | $4,034 | 4.15% |
| JACKSON, MI (FHA|USDA|VA) | 286 | $41,750,000 | $145,979 | $5,103 | 4.37% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 254 | $33,790,000 | $133,031 | $4,129 | 4.50% |
| Outside of Metro Areas | 208 | $27,740,000 | $133,365 | $4,303 | 4.46% |
| FLINT, MI (FHA|USDA|VA) | 159 | $24,985,000 | $157,138 | $4,458 | 4.47% |
| Ludington, MI (FHA|USDA|VA) | 81 | $12,005,000 | $148,210 | $4,942 | 4.35% |
| MONROE, MI (FHA|USDA|VA) | 67 | $11,765,000 | $175,597 | $5,479 | 4.45% |
| Holland, MI (FHA|USDA|VA) | 47 | $9,065,000 | $192,872 | $4,287 | 4.54% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 52 | $7,400,000 | $142,308 | $4,848 | 4.80% |
| Adrian, MI (FHA|USDA|VA) | 40 | $7,270,000 | $181,750 | $4,709 | 4.11% |
| Hillsdale, MI (FHA|USDA|VA) | 35 | $4,645,000 | $132,714 | $5,850 | 4.41% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 31 | $4,585,000 | $147,903 | $4,326 | 4.41% |
| Cadillac, MI (FHA|USDA|VA) | 33 | $4,135,000 | $125,303 | $4,651 | 4.75% |
| SAGINAW, MI (FHA|USDA|VA) | 33 | $3,945,000 | $119,545 | $4,407 | 4.48% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 10 | $2,930,000 | $293,000 | $8,208 | 4.10% |
| Traverse City, MI (FHA|USDA|VA) | 13 | $2,715,000 | $208,846 | $4,904 | 4.34% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $2,550,000 | $255,000 | $7,141 | 4.87% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 10 | $2,450,000 | $245,000 | $7,710 | 4.40% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 14 | $2,160,000 | $154,286 | $5,340 | 4.57% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $2,005,000 | $286,429 | $6,526 | 4.05% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $1,715,000 | $245,000 | $4,418 | 4.27% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 8 | $1,520,000 | $190,000 | $5,296 | 4.05% |
| MIDLAND, MI (FHA|USDA|VA) | 10 | $1,320,000 | $132,000 | $3,488 | 4.36% |
| Big Rapids, MI (FHA|USDA|VA) | 7 | $1,195,000 | $170,714 | $3,386 | 4.28% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $4,359 | 4.15% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $3,698 | 4.71% |
| BAY CITY, MI (FHA|USDA|VA) | 6 | $800,000 | $133,333 | $3,849 | 4.14% |
| Coldwater, MI (FHA|USDA|VA) | 6 | $780,000 | $130,000 | $4,868 | 4.75% |
| TOLEDO, OH (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $4,352 | 4.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $7,536 | 4.96% |
| Sturgis, MI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $4,208 | 4.71% |
| Alpena, MI (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,453 | 4.31% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,535 | 3.75% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,503 | 4.00% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $2,666 | 4.71% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,908 | 4.06% |
| Alma, MI (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $4,001 | 5.17% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,022 | 5.25% |
| Sidney, OH (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $4,820 | 5.06% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,304 | 3.88% |
| Wauchula, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,883 | 4.13% |
| NILES, MI (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $4,263 | 4.68% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,871 | 4.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,208 | 3.88% |
| Wilmington, OH (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,190 | 4.94% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,765 | 3.75% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $3,795 | 4.25% |
| Marion, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,720 | 4.99% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,352 | 4.13% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,982 | 4.63% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,488 | 4.99% |
| Marquette, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,886 | 3.99% |
| AKRON, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,677 | 4.63% |
| Greenville, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,008 | 4.13% |
| Ashland, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,566 | 4.38% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,333 | 4.50% |
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: 30
Similarity Rank: 96
Similarity Rank: 99
Similarity Rank: 120
Similarity Rank: 126
Similarity Rank: 144
Similarity Rank: 160
Similarity Rank: 196
Similarity Rank: 220
Product Mix
For 2019, Mortgage 1 Incorporated's most frequently originated type of loan was Conventional, with 4,662 originations. Their 2nd most popular type was FHA, with 1,863 originations.
Loan Reason
For 2019, Mortgage 1 Incorporated's most frequently cited loan purpose was Home Purchase, with 5,351 originations. The 2nd most popular reason was Refi, with 1,347 originations.
Loan Duration/Length
For 2019, Mortgage 1 Incorporated's most frequently cited loan duration was 30 Year, with 6,407 originations. The 2nd most popular length was 15 Year, with 458 originations.
Origination Fees/Closing Costs
Mortgage 1 Incorporated's average total fees were $4,404, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,507 originations.
Interest Rates
During 2019, Mortgage 1 Incorporated's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 3,725 originations.
Loan Sizing
2019 saw Mortgage 1 Incorporated place emphasis on $100k-200k loans with 3,639 originations, totaling $531,645,000 in origination value.
Applicant Income
Mortgage 1 Incorporated lent most frequently to those with incomes in the $50k or less range, with 2,217 originations. The second most popular income band? $50k-75k, with 2,102 originations.
Applicant Debt to Income Ratio
Mortgage 1 Incorporated lent most frequently to those with DTI ratios of 20-30%, with 1,433 originations. The next most common DTI ratio? 30-36%, with 1,405 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.27%
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 origination79.03%
Mortgage 1 Incorporated has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 7,091 | $1,233,845,000 | $174,002 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 50 | $5,840,000 | $116,800 |
| Single Family (1-4 Units):Site-Built | 7,041 | $1,228,005,000 | $174,408 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 360 Mortgage Inc. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |