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, Topeka, Springfield, and Emporia among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Members Mortgage Services 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. 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
183Origination Dollar Volume (All Markets)
$23,985,000Awards
Members Mortgage Services - 2019
Members Mortgage Services is a 2019 , due to their low .
For 2019, 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) | 80 | $11,110,000 | $138,875 | $3,420 | 4.02% |
| Hutchinson, KS (FHA|USDA|VA) | 33 | $3,485,000 | $105,606 | $2,674 | 3.97% |
| TOPEKA, KS (FHA|USDA|VA) | 10 | $1,800,000 | $180,000 | $3,282 | 3.71% |
| Outside of Metro Areas | 12 | $1,230,000 | $102,500 | $3,242 | 3.86% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 7 | $995,000 | $142,143 | $3,675 | 3.59% |
| Emporia, KS (FHA|USDA|VA) | 7 | $955,000 | $136,429 | $3,988 | 4.20% |
| Dodge City, KS (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $4,074 | 3.68% |
| MANHATTAN, KS (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $2,381 | 3.75% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $2,230 | 3.92% |
| Poplar Bluff, MO (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $1,870 | 3.66% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $5,436 | 4.13% |
| Sedalia, MO (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $2,685 | 4.33% |
| Great Bend, KS (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $3,122 | 4.17% |
| Pittsburg, KS (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,543 | 4.06% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,584 | 3.88% |
| Salina, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,031 | 3.38% |
| Warrensburg, MO (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $2,625 | 4.06% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,856 | 3.88% |
| Ottawa, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,061 | 4.25% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,411 | 3.50% |
| Atchison, KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,328 | 5.00% |
| Farmington, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $896 | 3.99% |
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: 90
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Product Mix
For 2019, Members Mortgage Services's most frequently originated type of loan was FHA, with 119 originations. Their 2nd most popular type was VA, with 42 originations.
Loan Reason
For 2019, Members Mortgage Services's most frequently cited loan purpose was Home Purchase, with 167 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 180 | $23,660,000 | $131,444 | $3,190 | 3.96% |
| 15 Year | 3 | $325,000 | $108,333 | $4,154 | 4.13% |
For 2019, Members Mortgage Services's most frequently cited loan duration was 30 Year, with 180 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 | 160 | $21,000,000 | $131,250 |
| $1k-2k | 20 | $2,410,000 | $120,500 |
| $2k-3k | 3 | $575,000 | $191,667 |
Members Mortgage Services's average total fees were $3,190, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 160 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 112 | $15,020,000 | $134,107 |
| 4-5% | 69 | $8,755,000 | $126,884 |
| 5-6% | 2 | $210,000 | $105,000 |
During 2019, Members Mortgage Services's average interest rate for loans was 3.96%, while their most frequently originated rate bucket for loans was 3-4%, with 112 originations.
Loan Sizing
2019 saw Members Mortgage Services place emphasis on $100k-200k loans with 91 originations, totaling $13,235,000 in origination value.
Applicant Income
Members Mortgage Services lent most frequently to those with incomes in the $50k or less range, with 73 originations. The second most popular income band? $50k-75k, with 64 originations.
Applicant Debt to Income Ratio
Members Mortgage Services lent most frequently to those with DTI ratios of 30-36%, with 39 originations. The next most common DTI ratio? 20-30%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.93%
Members Mortgage Services has an average approval rate.
Pick Rate
Approvals leading to origination37.70%
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 | 183 | $23,985,000 | $131,066 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 183 | $23,985,000 | $131,066 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER MORTGAGE SERVICES | FHA mortgage | Trouble during payment process | 1 | 100.0% |