My Mortgage Rates, Fees & Info
CROFTON, MDLEI: 549300NT030LXB2A8T82
Tax ID: 83-1304415
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Mortgage Data
Review & Overview
My Mortgage is a smaller mortgage company specializing in Home Purchase loans. My Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Miami, Orlando, Tampa, New York, and Washington among others. We have data for 56 markets. (Some data included below & more in-depth data is available with an active subscription.)My Mortgage 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. My Mortgage 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 relatively high 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.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 7.15% | 10/13/24 |
30 Year Conventional Refi | 6.87% | 10/13/24 |
30 Year Cash-out Refi | 6.86% | 10/13/24 |
30 Year FHA Purchase | 7.65% | 10/13/24 |
30 Year FHA Refi | 7.46% | 10/13/24 |
30 Year VA Purchase | 6.52% | 10/13/24 |
30 Year VA Refi | 6.49% | 10/13/24 |
30 Year USDA Purchase | 6.79% | 10/13/24 |
15 Year Conventional Purchase | 5.38% | 10/13/24 |
15 Year Conventional Refi | 6.39% | 10/13/24 |
15 Year Cash-out Refi | 6.39% | 10/13/24 |
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. |
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
996Origination Dollar Volume (All Markets)
$353,790,000MY MORTGAGE - 2023
MY MORTGAGE is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
My Mortgage's average 30 year fixed mortgage rate was
6.71%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.23%.
Relative Fees (Closing Costs)
My Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $13,780.
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 $9,089.
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 |
---|---|---|---|---|---|
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 415 | $170,315,000 | $410,398 | $14,446 | 6.81% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 125 | $39,505,000 | $316,040 | $13,812 | 6.79% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 101 | $33,335,000 | $330,050 | $14,809 | 6.59% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 60 | $25,550,000 | $425,833 | $17,440 | 6.83% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 36 | $15,090,000 | $419,167 | $14,706 | 6.46% |
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 48 | $12,430,000 | $258,958 | $11,188 | 6.09% |
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 36 | $9,070,000 | $251,944 | $9,675 | 6.88% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 28 | $7,910,000 | $282,500 | $11,751 | 6.02% |
OCALA, FL (FHA|USDA|VA) | 14 | $3,790,000 | $270,714 | $13,079 | 6.74% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 13 | $3,335,000 | $256,538 | $12,332 | 7.54% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 10 | $2,750,000 | $275,000 | $10,847 | 7.46% |
PUNTA GORDA, FL (FHA|USDA|VA) | 11 | $2,365,000 | $215,000 | $6,631 | 4.87% |
JACKSONVILLE, FL (FHA|USDA|VA) | 8 | $1,920,000 | $240,000 | $10,754 | 7.23% |
SALISBURY, MD-DE (FHA|USDA|VA) | 8 | $1,840,000 | $230,000 | $8,596 | 7.09% |
Key West, FL (FHA|USDA|VA) | 3 | $1,645,000 | $548,333 | $17,036 | 7.75% |
PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $16,285 | 6.81% |
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,460,000 | $243,333 | $12,373 | 5.94% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,375,000 | $1,375,000 | $16,195 | 8.75% |
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $8,765 | 6.67% |
Outside of Metro Areas | 6 | $1,310,000 | $218,333 | $8,851 | 7.12% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $15,983 | 7.38% |
SEBRING-AVON PARK, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $16,374 | 7.00% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 5 | $1,035,000 | $207,000 | $11,242 | 5.50% |
Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $19,350 | 6.81% |
TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $18,657 | 6.94% |
RICHMOND, VA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $9,156 | 6.17% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $7,631 | 5.44% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $20,632 | 7.25% |
DALTON, GA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $16,211 | 7.13% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $8,896 | 6.75% |
THE VILLAGES, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $13,975 | 7.56% |
Clewiston, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $11,628 | 7.06% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $16,417 | 6.25% |
WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,161 | 6.63% |
FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $8,903 | 6.50% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $19,023 | 6.63% |
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $8,674 | 8.50% |
KNOXVILLE, TN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $8,762 | 9.00% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,441 | 6.63% |
Lake City, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,955 | 6.63% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,518 | 6.63% |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,037 | 7.63% |
EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,832 | 6.99% |
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,591 | 6.38% |
Forest City, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,711 | 5.99% |
Wauchula, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,827 | 6.63% |
MEDFORD, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,336 | 6.63% |
DOVER, DE (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $7,804 | 6.81% |
GREENVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,881 | 7.13% |
KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,963 | 7.00% |
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $7,707 | 8.75% |
Henderson, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,163 | 6.13% |
FLINT, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,210 | 6.50% |
PITTSBURGH, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,970 | 7.50% |
SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,542 | 7.63% |
BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,590 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MY MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, My Mortgage's most frequently originated type of loan was Conventional, with 551 originations. Their 2nd most popular type was FHA, with 415 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 906 | $330,010,000 | $364,249 | $13,899 | 6.69% |
Refi | 90 | $23,780,000 | $264,222 | $11,522 | 7.00% |
For 2023, My Mortgage's most frequently cited loan purpose was Home Purchase, with 906 originations. The 2nd most popular reason was Refi, with 90 originations.
Loan Duration/Length
For 2023, My Mortgage's most frequently cited loan duration was 30 Year, with 982 originations. The 2nd most popular length was 10 Year, with 6 originations.
Origination Fees/Closing Costs
My Mortgage's average total fees were $13,780, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 597 originations.
Interest Rates
During 2023, My Mortgage's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 456 originations.
Loan Sizing
2023 saw My Mortgage place emphasis on $200k-400k loans with 478 originations, totaling $146,700,000 in origination value.
Applicant Income
My Mortgage lent most frequently to those with incomes in the $100k-150k range, with 357 originations. The second most popular income band? $75k-100k, with 215 originations.
Applicant Debt to Income Ratio
My Mortgage lent most frequently to those with DTI ratios of 50-60%, with 217 originations. The next most common DTI ratio? 30-36%, with 73 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.12%
My Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination61.04%
My Mortgage 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 | 996 | $353,790,000 | $355,211 |