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 and Refi loans. My Mortgage 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: Miami, Orlando, Baltimore, Washington, and Tampa among others. We have data for 42 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 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.15% | 12/16/24 |
| 30 Year Conventional Refi | 6.87% | 12/16/24 |
| 30 Year Cash-out Refi | 6.86% | 12/16/24 |
| 30 Year FHA Purchase | 7.65% | 12/16/24 |
| 30 Year FHA Refi | 7.46% | 12/16/24 |
| 30 Year VA Purchase | 6.52% | 12/16/24 |
| 30 Year VA Refi | 6.49% | 12/16/24 |
| 30 Year USDA Purchase | 6.79% | 12/16/24 |
| 15 Year Conventional Purchase | 5.38% | 12/16/24 |
| 15 Year Conventional Refi | 6.39% | 12/16/24 |
| 15 Year Cash-out Refi | 6.39% | 12/16/24 |
| 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
1,159Origination Dollar Volume (All Markets)
$318,265,000Awards
MY MORTGAGE - 2020
MY MORTGAGE is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 564 | $168,480,000 | $298,723 | $7,971 | 3.37% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 201 | $49,245,000 | $245,000 | $8,247 | 3.47% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 138 | $38,330,000 | $277,754 | $5,758 | 3.16% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 41 | $13,045,000 | $318,171 | $8,904 | 3.47% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 39 | $8,515,000 | $218,333 | $7,224 | 3.32% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 32 | $6,620,000 | $206,875 | $8,472 | 3.43% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 20 | $5,160,000 | $258,000 | $6,128 | 3.19% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 18 | $3,980,000 | $221,111 | $8,027 | 3.16% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 13 | $2,685,000 | $206,538 | $7,794 | 3.52% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 9 | $2,345,000 | $260,556 | $9,076 | 2.92% |
| Key West, FL (FHA|USDA|VA) | 4 | $1,730,000 | $432,500 | $6,341 | 3.00% |
| Outside of Metro Areas | 6 | $1,450,000 | $241,667 | $9,430 | 3.60% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $1,425,000 | $285,000 | $5,299 | 2.93% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,390,000 | $231,667 | $7,890 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,380,000 | $345,000 | $9,843 | 3.16% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $9,036 | 3.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $6,932 | 4.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $8,580 | 3.13% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $7,192 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $7,345 | 3.20% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $5,756 | 3.40% |
| OCALA, FL (FHA|USDA|VA) | 6 | $860,000 | $143,333 | $4,947 | 4.10% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $5,436 | 3.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,859 | 2.50% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $6,781 | 3.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $9,002 | 3.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $8,408 | 3.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,372 | 3.13% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,036 | 3.50% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,609 | 3.31% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,699 | 2.38% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,089 | 3.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,947 | 3.63% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $10,957 | 3.63% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,787 | 2.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,914 | 3.63% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,225 | 5.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,500 | 4.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,446 | 4.00% |
| Marion, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,474 | 3.50% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,710 | 3.75% |
| Sanford, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,075 | 4.25% |
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 2020, My Mortgage's most frequently originated type of loan was Conventional, with 813 originations. Their 2nd most popular type was FHA, with 300 originations.
Loan Reason
For 2020, My Mortgage's most frequently cited loan purpose was Home Purchase, with 746 originations. The 2nd most popular reason was Refi, with 388 originations.
Loan Duration/Length
For 2020, My Mortgage's most frequently cited loan duration was 30 Year, with 1,080 originations. The 2nd most popular length was 15 Year, with 44 originations.
Origination Fees/Closing Costs
My Mortgage's average total fees were $7,881, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 562 originations.
Interest Rates
During 2020, My Mortgage's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 559 originations.
Loan Sizing
2020 saw My Mortgage place emphasis on $200k-400k loans with 764 originations, totaling $219,520,000 in origination value.
Applicant Income
My Mortgage lent most frequently to those with incomes in the $50k-75k range, with 427 originations. The second most popular income band? $75k-100k, with 227 originations.
Applicant Debt to Income Ratio
My Mortgage lent most frequently to those with DTI ratios of 30-36%, with 139 originations. The next most common DTI ratio? 50-60%, with 111 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.54%
My Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination49.96%
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 | 1,159 | $318,265,000 | $274,603 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $260,000 | $130,000 |
| Single Family (1-4 Units):Site-Built | 1,157 | $318,005,000 | $274,853 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| My Mortgage, Inc. | Other type of mortgage | Closing on a mortgage | 1 | 100.0% |