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% | 11/17/24 |
| 30 Year Conventional Refi | 6.87% | 11/17/24 |
| 30 Year Cash-out Refi | 6.86% | 11/17/24 |
| 30 Year FHA Purchase | 7.65% | 11/17/24 |
| 30 Year FHA Refi | 7.46% | 11/17/24 |
| 30 Year VA Purchase | 6.52% | 11/17/24 |
| 30 Year VA Refi | 6.49% | 11/17/24 |
| 30 Year USDA Purchase | 6.79% | 11/17/24 |
| 15 Year Conventional Purchase | 5.38% | 11/17/24 |
| 15 Year Conventional Refi | 6.39% | 11/17/24 |
| 15 Year Cash-out Refi | 6.39% | 11/17/24 |
| 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)
$353,790,000Awards
MY 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 |