The Mortgage Company Rates, Fees & InfoCENTENNIAL, CO
Tax ID: 84-1347792
Review & OverviewThe Mortgage Company is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. The Mortgage Company 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: Denver, Portland, Cañon City, Greeley, and Edwards among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)
The Mortgage Company 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. The Mortgage Company 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 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.16%||10/3/22|
|30 Year Conventional Refi||6.46%||10/3/22|
|30 Year Cash-out Refi||6.60%||10/3/22|
|30 Year FHA Purchase||7.52%||10/3/22|
|30 Year FHA Refi||6.91%||10/3/22|
|30 Year VA Purchase||6.31%||10/3/22|
|30 Year VA Refi||6.01%||10/3/22|
|30 Year USDA Purchase||6.01%||10/3/22|
|30 Year USDA Refi||6.56%||10/3/22|
|15 Year Conventional Purchase||6.20%||10/3/22|
|15 Year Conventional Refi||6.21%||10/3/22|
|15 Year Cash-out Refi||6.21%||10/3/22|
|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.|
Origination Dollar Volume (All Markets)$296,085,000
The Mortgage Company's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.26%.
Relative Fees (Closing Costs)
The Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,365.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)||431||$155,165,000||$360,012||$4,509||2.95%|
|PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)||110||$47,830,000||$434,818||$7,991||2.99%|
|Cañon City, CO (FHA|USDA|VA)||206||$43,060,000||$209,029||$5,237||2.53%|
|Outside of Metro Areas||27||$8,085,000||$299,444||$4,412||2.94%|
|GREELEY, CO (FHA|USDA|VA)||18||$6,340,000||$352,222||$4,249||2.83%|
|Edwards, CO (FHA|USDA|VA)||10||$5,280,000||$528,000||$3,493||3.08%|
|PUEBLO, CO (FHA|USDA|VA)||22||$5,140,000||$233,636||$5,167||2.43%|
|BOULDER, CO (FHA|USDA|VA)||13||$4,355,000||$335,000||$3,266||2.97%|
|COLORADO SPRINGS, CO (FHA|USDA|VA)||14||$4,100,000||$292,857||$5,405||2.81%|
|Glenwood Springs, CO (FHA|USDA|VA)||2||$2,390,000||$1,195,000||$4,890||2.81%|
|FORT COLLINS, CO (FHA|USDA|VA)||6||$1,980,000||$330,000||$4,461||2.77%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||6||$1,910,000||$318,333||$5,125||2.98%|
|Breckenridge, CO (FHA|USDA|VA)||2||$1,580,000||$790,000||$11,017||3.06%|
|Durango, CO (FHA|USDA|VA)||3||$1,175,000||$391,667||$3,338||2.92%|
|Steamboat Springs, CO (FHA|USDA|VA)||2||$1,170,000||$585,000||$7,861||3.31%|
|Newport, OR (FHA|USDA|VA)||3||$1,135,000||$378,333||$7,369||3.21%|
|BEND, OR (FHA|USDA|VA)||2||$930,000||$465,000||$11,376||3.25%|
|OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA)||2||$860,000||$430,000||$9,139||3.00%|
|SALEM, OR (FHA|USDA|VA)||2||$760,000||$380,000||$8,690||3.00%|
|Astoria, OR (FHA|USDA|VA)||2||$730,000||$365,000||$8,840||3.06%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||2||$490,000||$245,000||$4,192||3.19%|
|MEDFORD, OR (FHA|USDA|VA)||1||$375,000||$375,000||$4,767||2.88%|
|TALLAHASSEE, FL (FHA|USDA|VA)||2||$360,000||$180,000||$4,420||3.31%|
|WENATCHEE, WA (FHA|USDA|VA)||1||$285,000||$285,000||$4,877||3.13%|
|LONGVIEW, WA (FHA|USDA|VA)||1||$245,000||$245,000||$3,521||3.13%|
|Roseburg, OR (FHA|USDA|VA)||1||$175,000||$175,000||$4,274||3.13%|
|Sterling, CO (FHA|USDA|VA)||1||$115,000||$115,000||$3,073||3.25%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||1||$65,000||$65,000||$2,616||3.63%|
The Mortgage Company's top markets include Denver, Portland, Cañon City, Greeley, and Edwards among others.
We use machine learning to identify the top lenders compared against THE MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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For 2021, The Mortgage Company's most frequently originated type of loan was Conventional, with 748 originations. Their 2nd most popular type was FHA, with 66 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||197||$63,065,000||$320,127||$5,023||3.07%|
For 2021, The Mortgage Company's most frequently cited loan purpose was Home Purchase, with 458 originations. The 2nd most popular reason was Refi, with 238 originations.
For 2021, The Mortgage Company's most frequently cited loan duration was 30 Year, with 804 originations. The 2nd most popular length was 15 Year, with 61 originations.
Origination Fees/Closing Costs
The Mortgage Company's average total fees were $5,365, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 389 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, The Mortgage Company's average interest rate for loans was 2.89%, while their most frequently originated rate bucket for loans was 2.5-3%, with 392 originations.
2021 saw The Mortgage Company place emphasis on $200k-400k loans with 409 originations, totaling $122,135,000 in origination value.
The Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 231 originations. The second most popular income band? $75k-100k, with 190 originations.
Applicant Debt to Income Ratio
The Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 164 originations.
Approval RatesTotal approvals of all applications
The Mortgage Company has an average approval rate.
Pick RateApprovals leading to origination
The Mortgage Company has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|THE MORTGAGE EXPERTS LLC||VA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||100.0%|