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 Cash Out Refi and Home Purchase loans. Bridge has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Dayton, Akron, Cleveland, and Springfield among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Bridge has an 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.26% | 11/17/24 |
| 30 Year Conventional Purchase | 7.24% | 11/17/24 |
| 30 Year Conventional Refi | 7.38% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.29% | 11/17/24 |
| 15 Year Conventional Refi | 11.48% | 11/17/24 |
| 15 Year Cash-out Refi | 11.48% | 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
10Origination Dollar Volume (All Markets)
$1,410,000Top 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) | 5 | $595,000 | $119,000 | $2,541 | 4.53% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,923 | 5.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,301 | 4.63% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,408 | 4.38% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,397 | 4.88% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,560 | 4.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 10 | $1,410,000 | $141,000 | $2,629 | 4.64% |
For 2019, Bridge's most frequently originated type of loan was Conventional, with 10 originations.
Loan Reason
For 2019, Bridge's most frequently cited loan purpose was Cash Out Refi, with 5 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 6 | $990,000 | $165,000 | $2,717 | 4.77% |
| 15 Year | 2 | $160,000 | $80,000 | $2,296 | 4.19% |
| 20 Year | 2 | $260,000 | $130,000 | $2,700 | 4.69% |
For 2019, Bridge's most frequently cited loan duration was 30 Year, with 6 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 | 10 | $1,410,000 | $141,000 |
Bridge's average total fees were $2,717, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 8 | $1,160,000 | $145,000 |
| 3-4% | 1 | $95,000 | $95,000 |
| 5-6% | 1 | $155,000 | $155,000 |
During 2019, Bridge's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 8 originations.
Loan Sizing
2019 saw Bridge place emphasis on $100k-200k loans with 5 originations, totaling $835,000 in origination value.
Applicant Income
Bridge lent most frequently to those with incomes in the $50k-75k range, with 4 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
Bridge lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? 36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.00%
Bridge has a below average approval rate.
Pick Rate
Approvals leading to origination30.00%
Bridge 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 | 10 | $1,410,000 | $141,000 |