Bridge Mortgage Rates, Fees & Info
Columbus, OHLEI: 549300PGWM7M3DKQ1F43
Tax ID: 31-6077716
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Mortgage Data
Review & Overview
Bridge is a smaller mortgage company specializing in Home Improvement and Other loans. Bridge has a high proportion of conventional loans. Bridge has an average proportion of conventional loans. Their top markets by origination volume include: Columbus, Dayton, Youngstown, Cincinnati, and Cleveland among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Bridge has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bridge 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.26% | 4/14/24 |
| 30 Year Conventional Purchase | 7.24% | 4/14/24 |
| 30 Year Conventional Refi | 7.38% | 4/14/24 |
| 30 Year VA Purchase | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 6.29% | 4/14/24 |
| 15 Year Conventional Refi | 11.48% | 4/14/24 |
| 15 Year Cash-out Refi | 11.48% | 4/14/24 |
| 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. | ||
Bridge Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
78Origination Dollar Volume (All Markets)
$4,830,000Relative Rate
Bridge's average 30 year fixed mortgage rate was
7.75%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.27%.
Relative Fees (Closing Costs)
Bridge's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,857.
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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 26 | $1,960,000 | $75,385 | $4,106 | 7.50% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 14 | $840,000 | $60,000 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $535,000 | $59,444 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 9 | $315,000 | $35,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $3,360 | 8.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 4 | $230,000 | $57,500 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 0.00% |
| Greenville, OH (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $0 | 0.00% |
| Mount Vernon, OH (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 0.00% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Urbana, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Wooster, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against BRIDGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 210
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $4,315,000 | $57,533 | $0 | 0.00% |
| Conventional | 3 | $515,000 | $171,667 | $3,857 | 7.75% |
For 2023, Bridge's most frequently originated type of loan was Conventional, with 75 originations. Their 2nd most popular type was Conventional, with 3 originations.
Loan Reason
For 2023, Bridge's most frequently cited loan purpose was Home Improvement, with 43 originations. The 2nd most popular reason was Other, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 75 | $4,315,000 | $57,533 | $0 | 0.00% |
| 30 Year | 3 | $515,000 | $171,667 | $3,857 | 7.75% |
For 2023, Bridge's most frequently cited loan duration was Other, with 75 originations. The 2nd most popular length was 30 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $515,000 | $171,667 |
Bridge's average total fees were $3,857, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 2 | $270,000 | $135,000 |
| 6-7% | 1 | $245,000 | $245,000 |
During 2023, Bridge's average interest rate for loans was 7.75%, while their most frequently originated rate bucket for loans was Over 8%, with 2 originations.
Loan Sizing
2023 saw Bridge place emphasis on $100,000 or less loans with 69 originations, totaling $3,395,000 in origination value.
Applicant Income
Bridge lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $75k-100k, with 19 originations.
Applicant Debt to Income Ratio
Bridge lent most frequently to those with DTI ratios of Exempt%, with 75 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications64.47%
Bridge has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination83.33%
Bridge has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 75 | $4,315,000 | $57,533 |
| NA | 3 | $515,000 | $171,667 |