Quik Fund Inc Mortgage Rates, Fees & Info

Garden City, NY

LEI: 549300L6D43H4DHZ8K12

Tax ID: 65-1078899

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Quik Fund Inc is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Quik Fund Inc has a high proportion of conventional loans. Their top markets by origination volume include: New York, New Haven, Bridgeport, Poughkeepsie, and Miami among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Quik Fund Inc 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. Quik Fund Inc is typically a high 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.


    Originations

    223

    Origination Dollar Volume (All Markets)

    $100,245,000

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 211 $97,535,000 $462,251 $16,013 4.82%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $865,000 $288,333 $13,599 5.04%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $475,000 $158,333 $5,024 4.88%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $450,000 $225,000 $10,740 5.31%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $395,000 $395,000 $10,501 5.25%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $255,000 $255,000 $10,260 4.88%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $165,000 $165,000 $4,495 5.38%
    Outside of Metro Areas 1 $105,000 $105,000 $4,251 4.50%
    Quik Fund Inc's top markets include New York, New Haven, Bridgeport, Poughkeepsie, and Miami among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Quik Fund Inc based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Investors Home Mortgage-IHM
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 231
    Nassau Educators Federal Credit Union
    Similarity Rank: 248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 144 $69,300,000 $481,250 $18,693 4.73%
    Conventional 78 $30,420,000 $390,000 $9,878 5.02%
    VA 1 $525,000 $525,000 $23,321 4.88%

    For 2018, Quik Fund Inc's most frequently originated type of loan was FHA, with 144 originations. Their 2nd most popular type was Conventional, with 78 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 197 $88,955,000 $451,548 $15,713 4.81%
    Refi 17 $7,395,000 $435,000 $15,397 4.88%
    Cash Out Refi 7 $2,895,000 $413,571 $13,029 5.27%
    Home Improvement 2 $1,000,000 $500,000 $18,575 5.00%

    For 2018, Quik Fund Inc's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 220 $99,300,000 $451,364 $15,735 4.84%
    15 Year 3 $945,000 $315,000 $7,954 4.50%

    For 2018, Quik Fund Inc's most frequently cited loan duration was 30 Year, with 220 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
    $5k+ 137 $69,865,000 $509,964
    $1k-2k 44 $16,550,000 $376,136
    $4k-5k 22 $6,210,000 $282,273
    $3k-4k 10 $3,740,000 $374,000
    $2k-3k 9 $3,355,000 $372,778
    $<1k 1 $525,000 $525,000

    Quik Fund Inc's average total fees were $15,735, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 137 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 161 $73,415,000 $455,994
    5-6% 56 $24,290,000 $433,750
    3-4% 6 $2,540,000 $423,333

    During 2018, Quik Fund Inc's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 4-5%, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 88 $42,870,000 $487,159 $16,509 4.72%
    $200k-400k 79 $24,885,000 $315,000 $11,550 4.91%
    $600k-1MM 41 $29,295,000 $714,512 $23,867 4.82%
    $100k-200k 13 $2,055,000 $158,077 $7,340 5.20%
    $100,000 or less 1 $75,000 $75,000 $3,748 4.75%
    $1MM+ 1 $1,065,000 $1,065,000 $42,584 4.63%

    2018 saw Quik Fund Inc place emphasis on $400k-600k loans with 88 originations, totaling $42,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 84 $43,960,000 $523,333 $18,231 4.84%
    $75k-100k 65 $24,615,000 $378,692 $13,773 4.83%
    $150k-250k 32 $17,380,000 $543,125 $16,757 4.84%
    $50k-75k 25 $7,835,000 $313,400 $12,325 4.86%
    $50k or less 11 $4,315,000 $392,273 $14,137 4.85%
    $250k+ 6 $2,140,000 $356,667 $9,835 4.65%

    Quik Fund Inc lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $75k-100k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 45 $22,015,000 $489,222 $18,706 4.66%
    46% 18 $8,200,000 $455,556 $15,849 4.92%
    20-30% 17 $6,555,000 $385,588 $10,516 4.91%
    44% 16 $6,740,000 $421,250 $14,791 4.89%
    43% 14 $6,460,000 $461,429 $15,155 4.82%
    47% 13 $5,575,000 $428,846 $16,835 4.88%
    48% 12 $5,860,000 $488,333 $18,126 4.90%
    30-36% 12 $4,090,000 $340,833 $10,869 4.93%
    42% 12 $5,370,000 $447,500 $15,073 4.70%
    49% 11 $5,425,000 $493,182 $15,363 4.95%
    45% 11 $5,885,000 $535,000 $22,080 4.90%
    40% 8 $3,470,000 $433,750 $16,459 4.94%
    >60% 6 $2,780,000 $463,333 $15,694 4.65%
    37% 6 $2,370,000 $395,000 $12,187 5.08%
    38% 6 $3,390,000 $565,000 $15,202 4.71%
    41% 4 $1,950,000 $487,500 $18,265 4.91%
    39% 4 $1,580,000 $395,000 $9,744 5.03%
    36% 4 $1,180,000 $295,000 $8,052 4.50%
    <20% 2 $350,000 $175,000 $7,502 5.50%

    Quik Fund Inc lent most frequently to those with DTI ratios of 50-60%, with 45 originations. The next most common DTI ratio? 46%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 144 $61,210,000 $425,069 $14,328 4.89%
    Black 67 $32,855,000 $490,373 $18,154 4.70%
    Asian 7 $4,135,000 $590,714 $21,294 4.88%
    Native Hawaiian or Islander 2 $870,000 $435,000 $10,647 4.56%
    American Indian 2 $720,000 $360,000 $12,246 5.13%
    Not provided 1 $455,000 $455,000 $11,187 5.25%

    Approval Rates

    Total approvals of all applications
    89.80%

    Quik Fund Inc has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.06%

    Quik Fund Inc has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 223 $100,245,000 $449,529

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 223 $100,245,000 $449,529

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 2 $650,000 $325,000 $13,221 4.88%
    60-80% 6 $2,250,000 $375,000 $9,979 4.79%
    80-100% 2 $670,000 $335,000 $8,892 4.81%