The Money Source Mortgage Rates, Fees & Info
NEW YORK, NYLEI: 549300JOT0D4J0SZIK67
Tax ID: 11-3412303
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
The Money Source is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Washington, Los Angeles, Houston, and Casper among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)The Money Source 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.
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 | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 30 Year FHA Purchase | 6.27% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.27% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 6.27% | 4/28/24 |
| 30 Year USDA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 15 Year FHA Purchase | 5.68% | 4/28/24 |
| 15 Year VA Purchase | 5.68% | 4/28/24 |
| 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. | ||
The Money Source Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from The Money Source. 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
72Origination Dollar Volume (All Markets)
$12,760,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $1,330,000 | $221,667 | $783 | 4.19% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $50 | 3.69% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $3,142 | 2.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $960 | 4.13% |
| Outside of Metro Areas | 5 | $495,000 | $99,000 | $561 | 4.03% |
| CASPER, WY (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $1,407 | 3.94% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $317 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $870 | 4.21% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,154 | 4.38% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $480 | 4.13% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $50 | 3.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $529 | 4.38% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $50 | 3.38% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,535 | 3.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $910 | 5.00% |
| Seymour, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $50 | 4.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $559 | 3.81% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $917 | 4.13% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,481 | 3.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,523 | 3.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $50 | 5.25% |
| NILES, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,007 | 4.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $869 | 4.31% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $910 | 3.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $50 | 5.38% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $50 | 3.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $50 | 4.75% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $50 | 3.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $820 | 4.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $869 | 4.25% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,206 | 3.50% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $910 | 3.88% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $50 | 5.25% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $50 | 3.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $50 | 3.88% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $970 | 4.00% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,007 | 3.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $820 | 4.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $820 | 5.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $317 | 3.75% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $820 | 3.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $917 | 4.13% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $317 | 3.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $50 | 4.50% |
| Elk City, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $50 | 5.25% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $910 | 3.38% |
| McMinnville, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $917 | 4.13% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $820 | 4.13% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $802 | 4.88% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $50 | 3.12% |
| TULSA, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,157 | 3.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against THE MONEY SOURCE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 76
Similarity Rank: 90
Similarity Rank: 200
Similarity Rank: 304
Similarity Rank: 330
Similarity Rank: 345
Similarity Rank: 360
Similarity Rank: 372
Similarity Rank: 378
Similarity Rank: 384
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 36 | $5,460,000 | $151,667 | $918 | 4.11% |
| VA | 34 | $7,080,000 | $208,235 | $466 | 3.96% |
| USDA | 2 | $220,000 | $110,000 | $895 | 4.31% |
For 2020, The Money Source's most frequently originated type of loan was FHA, with 36 originations. Their 2nd most popular type was VA, with 34 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 72 | $12,760,000 | $177,222 | $704 | 4.05% |
For 2020, The Money Source's most frequently cited loan purpose was Home Purchase, with 72 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 72 | $12,760,000 | $177,222 | $704 | 4.05% |
For 2020, The Money Source's most frequently cited loan duration was Other, with 72 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 72 | $12,760,000 | $177,222 |
The Money Source's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 34 | $5,660,000 | $166,471 |
| 4-5% | 31 | $5,235,000 | $168,871 |
| 5-6% | 5 | $875,000 | $175,000 |
| 2.5-3% | 2 | $990,000 | $495,000 |
During 2020, The Money Source's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 34 originations.
Loan Sizing
2020 saw The Money Source place emphasis on $100k-200k loans with 40 originations, totaling $5,700,000 in origination value.
Applicant Income
The Money Source lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
The Money Source lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 45%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.97%
The Money Source has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.50%
The Money Source has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 72 | $12,760,000 | $177,222 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $615,000 | $205,000 |
| Single Family (1-4 Units):Site-Built | 69 | $12,145,000 | $176,014 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 80-100% | 72 | $12,760,000 | $177,222 | $704 | 4.05% |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| THE MONEY HOUSE, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 16.7% |
| THE MONEY HOUSE, INC. | VA mortgage | Closing on a mortgage | 5 | 83.3% |