Manhattan Financial Group Mortgage Rates, Fees & Info

REDLANDS, CA

LEI: 549300P6LWTHH4GFWX19

Tax ID: 20-2389773

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Manhattan Financial Group is a smaller mortgage company specializing in Home Purchase loans. Manhattan Financial Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Diego, Cleveland, Los Angeles, Portland, and Visalia among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Manhattan Financial Group 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. Manhattan Financial Group is typically a low 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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    Originations

    24

    Origination Dollar Volume (All Markets)

    $5,590,000

    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
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 11 $2,965,000 $269,545 $5,162 4.86%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 7 $1,425,000 $203,571 $3,896 5.02%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $700,000 $350,000 $6,698 4.44%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $355,000 $355,000 $7,646 4.50%
    VISALIA, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,966 3.88%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $5,000 $5,000 $2,814 3.88%
    Hood River, OR (FHA|USDA|VA) 1 $5,000 $5,000 $2,533 4.00%
    Manhattan Financial Group's top markets include San Diego, Cleveland, Los Angeles, Portland, and Visalia among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)

    • Similar Lenders

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

    MYPOINT Credit Union
    Similarity Rank: 55
    FRONTWAVE
    Similarity Rank: 84
    MISSION
    Similarity Rank: 168
    Cabrillo Credit Union
    Similarity Rank: 248
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 442
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    T. J. FINANCIAL, INC.
    Similarity Rank: 1232
    USE Credit Union
    Similarity Rank: 1335
    Greenpath Funding, LLC
    Similarity Rank: 1415
    The Home Lending Group LLC
    Similarity Rank: 1540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 19 $4,245,000 $223,421 $4,749 4.78%
    FHA 4 $1,340,000 $335,000 $5,339 4.75%
    VA 1 $5,000 $5,000 $2,814 3.88%

    For 2018, Manhattan Financial Group's most frequently originated type of loan was Conventional, with 19 originations. Their 2nd most popular type was FHA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 13 $3,635,000 $279,615 $5,593 4.71%
    Cash Out Refi 7 $1,085,000 $155,000 $3,129 4.89%
    Refi 4 $870,000 $217,500 $4,951 4.56%

    For 2018, Manhattan Financial Group's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 21 $5,275,000 $251,190 $4,784 4.80%
    15 Year 2 $310,000 $155,000 $5,708 4.44%
    20 Year 1 $5,000 $5,000 $2,533 4.00%

    For 2018, Manhattan Financial Group's most frequently cited loan duration was 30 Year, with 21 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 23 $5,185,000 $225,435
    $1k-2k 1 $405,000 $405,000

    Manhattan Financial Group's average total fees were $4,784, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 15 $3,775,000 $251,667
    5-6% 6 $1,670,000 $278,333
    3-4% 3 $145,000 $48,333

    During 2018, Manhattan Financial Group's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 15 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 14 $4,070,000 $290,714 $5,055 4.86%
    $100,000 or less 4 $20,000 $5,000 $3,662 4.53%
    $100k-200k 4 $620,000 $155,000 $4,407 4.41%
    $400k-600k 2 $880,000 $440,000 $5,680 5.00%

    2018 saw Manhattan Financial Group place emphasis on $200k-400k loans with 14 originations, totaling $4,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $1,480,000 $185,000 $4,590 4.42%
    $100k-150k 6 $2,270,000 $378,333 $6,117 4.92%
    $75k-100k 4 $990,000 $247,500 $2,596 5.09%
    $150k-250k 3 $365,000 $121,667 $5,650 4.92%
    $50k or less 2 $330,000 $165,000 $4,413 4.63%
    $250k+ 1 $155,000 $155,000 $4,835 4.50%

    Manhattan Financial Group lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 5 $1,015,000 $203,000 $4,421 4.83%
    49% 5 $1,135,000 $227,000 $4,733 4.88%
    50-60% 3 $685,000 $228,333 $6,167 4.46%
    47% 3 $775,000 $258,333 $4,154 5.04%
    43% 2 $490,000 $245,000 $5,806 4.19%
    42% 1 $225,000 $225,000 $1,601 5.00%
    44% 1 $5,000 $5,000 $2,533 4.00%
    40% 1 $235,000 $235,000 $1,969 5.00%
    39% 1 $245,000 $245,000 $4,509 4.50%
    30-36% 1 $385,000 $385,000 $8,016 5.50%
    >60% 1 $395,000 $395,000 $7,440 4.38%

    Manhattan Financial Group lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? 49%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $5,340,000 $242,727 $4,868 4.79%
    Asian 2 $250,000 $125,000 $3,662 4.19%

    Approval Rates

    Total approvals of all applications
    100.00%

    Manhattan Financial Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    16.67%

    Manhattan Financial Group 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 24 $5,590,000 $232,917

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 24 $5,590,000 $232,917

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $305,000 $305,000 $6,894 4.25%
    40-60% 3 $635,000 $211,667 $6,045 4.54%
    60-80% 8 $2,300,000 $287,500 $4,045 4.98%
    80-100% 8 $2,330,000 $291,250 $5,297 4.73%
    Under 20% 4 $20,000 $5,000 $3,662 4.53%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 1 50.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Trouble during payment process 1 50.0%