Members Mortgage Services Rates, Fees & Info
Hutchinson, KSLEI: 549300JMT2KAYN9PTX82
Tax ID: 36-4548399
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Mortgage Data
Review & Overview
Members Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Members Mortgage Services has a low ratio of conventional loans. Their top markets by origination volume include: Wichita, Hutchinson, Dodge City, Poplar Bluff, and Topeka among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Members Mortgage Services has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Members Mortgage Services 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.66% | 12/16/24 |
| 30 Year Conventional Refi | 7.02% | 12/16/24 |
| 30 Year Cash-out Refi | 6.45% | 12/16/24 |
| 30 Year FHA Purchase | 7.38% | 12/16/24 |
| 30 Year FHA Refi | 7.59% | 12/16/24 |
| 30 Year VA Purchase | 6.55% | 12/16/24 |
| 30 Year VA Refi | 5.89% | 12/16/24 |
| 30 Year USDA Purchase | 6.89% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 15 Year FHA Purchase | 7.34% | 12/16/24 |
| 15 Year FHA Refi | 6.86% | 12/16/24 |
| 15 Year VA Purchase | 6.72% | 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. | ||
Members Mortgage Services Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
85Origination Dollar Volume (All Markets)
$10,215,000Awards
Members Mortgage Services - 2018
Members Mortgage Services is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| WICHITA, KS (FHA|USDA|VA) | 43 | $5,625,000 | $130,814 | $3,501 | 4.76% |
| Hutchinson, KS (FHA|USDA|VA) | 15 | $1,585,000 | $105,667 | $3,139 | 4.90% |
| Dodge City, KS (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $2,835 | 4.78% |
| Poplar Bluff, MO (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $3,586 | 4.84% |
| Outside of Metro Areas | 6 | $510,000 | $85,000 | $2,895 | 4.79% |
| TOPEKA, KS (FHA|USDA|VA) | 5 | $495,000 | $99,000 | $3,318 | 4.70% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,736 | 4.96% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,393 | 4.88% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,535 | 4.88% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,141 | 4.50% |
| Great Bend, KS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,989 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Members Mortgage Services based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 64
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Product Mix
For 2018, Members Mortgage Services's most frequently originated type of loan was FHA, with 65 originations. Their 2nd most popular type was VA, with 11 originations.
Loan Reason
For 2018, Members Mortgage Services's most frequently cited loan purpose was Home Purchase, with 80 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 82 | $10,050,000 | $122,561 | $3,397 | 4.80% |
| 15 Year | 3 | $165,000 | $55,000 | $2,468 | 4.71% |
For 2018, Members Mortgage Services's most frequently cited loan duration was 30 Year, with 82 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 67 | $7,945,000 | $118,582 |
| $1k-2k | 18 | $2,270,000 | $126,111 |
Members Mortgage Services's average total fees were $3,397, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 67 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 68 | $8,350,000 | $122,794 |
| 5-6% | 15 | $1,705,000 | $113,667 |
| 3-4% | 2 | $160,000 | $80,000 |
During 2018, Members Mortgage Services's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.
Loan Sizing
2018 saw Members Mortgage Services place emphasis on $100k-200k loans with 48 originations, totaling $6,870,000 in origination value.
Applicant Income
Members Mortgage Services lent most frequently to those with incomes in the $50k or less range, with 34 originations. The second most popular income band? $50k-75k, with 33 originations.
Applicant Debt to Income Ratio
Members Mortgage Services lent most frequently to those with DTI ratios of 50-60%, with 19 originations. The next most common DTI ratio? 20-30%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.49%
Members Mortgage Services has a below average approval rate.
Pick Rate
Approvals leading to origination17.65%
Members Mortgage Services 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 | 85 | $10,215,000 | $120,176 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 85 | $10,215,000 | $120,176 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |