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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5,549Origination Dollar Volume (All Markets)
$1,161,005,000MORTGAGE 1 INCORPORATED - 2022
MORTGAGE 1 INCORPORATED is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |