D.w. Brown Mortgage Corp. Rates, Fees & Info
EDWARDSVILLE, ILLEI: 549300PW3M6ZVFRNAH90
Tax ID: 37-1273743
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Mortgage Data
Review & Overview
D.w. Brown Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. D.w. Brown Mortgage Corp. 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: St. Louis, Mount Vernon, and Chicago among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)D.w. Brown Mortgage Corp. 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. D.w. Brown Mortgage Corp. 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 7.54% | 12/16/24 |
| 30 Year VA Purchase | 6.42% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 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. | ||
D.w. Brown Mortgage Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
188Origination Dollar Volume (All Markets)
$33,620,000Awards
D.W. BROWN MORTGAGE CORP. - 2020
D.W. BROWN MORTGAGE CORP. 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 182 | $32,640,000 | $179,341 | $3,220 | 3.29% |
| Outside of Metro Areas | 3 | $695,000 | $231,667 | $4,602 | 3.46% |
| Mount Vernon, IL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $911 | 3.31% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against D.W. BROWN MORTGAGE CORP. 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, D.w. Brown Mortgage Corp.'s most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was VA, with 66 originations.
Loan Reason
For 2020, D.w. Brown Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Refi, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 177 | $32,075,000 | $181,215 | $3,238 | 3.31% |
| 15 Year | 9 | $1,195,000 | $132,778 | $0 | 2.93% |
| 20 Year | 2 | $350,000 | $175,000 | $0 | 3.25% |
For 2020, D.w. Brown Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 177 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 188 | $33,620,000 | $178,830 |
D.w. Brown Mortgage Corp.'s average total fees were $3,238, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 188 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 100 | $16,240,000 | $162,400 |
| 2.5-3% | 69 | $14,165,000 | $205,290 |
| 4-5% | 14 | $2,130,000 | $152,143 |
| <2.5% | 4 | $1,030,000 | $257,500 |
| 5-6% | 1 | $55,000 | $55,000 |
During 2020, D.w. Brown Mortgage Corp.'s average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 100 originations.
Loan Sizing
2020 saw D.w. Brown Mortgage Corp. place emphasis on $100k-200k loans with 99 originations, totaling $14,515,000 in origination value.
Applicant Income
D.w. Brown Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $50k or less, with 48 originations.
Applicant Debt to Income Ratio
D.w. Brown Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 26 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 167 | $29,815,000 | $178,533 | $3,314 | 3.28% |
| Black | 21 | $3,805,000 | $181,190 | $3,076 | 3.34% |
Approval Rates
Total approvals of all applications98.70%
D.w. Brown Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.72%
D.w. Brown Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 188 | $33,620,000 | $178,830 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 188 | $33,620,000 | $178,830 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Devor Mortgage Investment Corp, DBA Quality Home Mortgage | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |