Milend Mortgage Rates, Fees & Info

Alpharetta, GA

LEI: 549300Q10M1VXBG2H889

Tax ID: 58-2200634

1 stars - Updated: 6/17/24 - out of 5 stars, based on 36 reviews

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

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Mortgage Data

Review & Overview

Milend is a smaller mortgage company specializing in Refi loans. They have a a high proportion of FHA loans. Milend has an average proportion of conventional loans. Their top markets by origination volume include: Atlanta, Washington, Nashville, Charlotte, and Richmond among others. We have data for 169 markets. (Some data included below & more in-depth data is available with an active subscription.)

Milend 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. Milend is typically a high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.85% 6/17/24
30 Year Conventional Refi 6.91% 6/17/24
30 Year Cash-out Refi 6.27% 6/17/24
30 Year FHA Purchase 7.47% 6/17/24
30 Year FHA Refi 7.26% 6/17/24
30 Year VA Purchase 6.57% 6/17/24
30 Year VA Refi 6.71% 6/17/24
30 Year USDA Purchase 6.47% 6/17/24
15 Year Conventional Purchase 6.72% 6/17/24
15 Year Conventional Refi 6.68% 6/17/24
15 Year Cash-out Refi 6.68% 6/17/24
15 Year FHA Refi 7.24% 6/17/24
15 Year VA Refi 6.72% 6/17/24
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.

Milend Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Milend. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,305

Origination Dollar Volume (All Markets)

$334,235,000

Relative Rate

Milend's average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Milend's average total fees/closing costs for a 30 year fixed rate mortgage were $14,448.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 342 $101,400,000 $296,491 $15,277 6.59%
Outside of Metro Areas 53 $10,625,000 $200,472 $11,743 6.77%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $9,585,000 $383,400 $19,318 6.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 30 $8,770,000 $292,333 $16,102 6.57%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 34 $8,740,000 $257,059 $14,842 6.66%
RICHMOND, VA (FHA|USDA|VA) 29 $7,305,000 $251,897 $14,937 6.45%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 28 $7,030,000 $251,071 $14,332 6.62%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 21 $6,965,000 $331,667 $18,028 6.33%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 27 $6,865,000 $254,259 $15,135 6.69%
JACKSONVILLE, FL (FHA|USDA|VA) 26 $6,560,000 $252,308 $14,975 6.54%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 20 $6,450,000 $322,500 $18,868 6.61%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 26 $6,120,000 $235,385 $12,854 6.80%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 20 $5,510,000 $275,500 $16,924 6.48%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 24 $4,380,000 $182,500 $10,561 6.97%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 19 $4,365,000 $229,737 $13,213 6.72%
HUNTSVILLE, AL (FHA|USDA|VA) 16 $4,160,000 $260,000 $14,934 6.71%
KNOXVILLE, TN (FHA|USDA|VA) 15 $3,835,000 $255,667 $14,226 6.58%
SAVANNAH, GA (FHA|USDA|VA) 16 $3,830,000 $239,375 $11,708 6.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 12 $3,510,000 $292,500 $16,387 6.29%
WINSTON-SALEM, NC (FHA|USDA|VA) 14 $3,360,000 $240,000 $13,397 6.83%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 8 $3,150,000 $393,750 $20,202 6.56%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 11 $3,085,000 $280,455 $16,813 6.60%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 13 $2,865,000 $220,385 $13,257 6.97%
FAYETTEVILLE, NC (FHA|USDA|VA) 8 $2,660,000 $332,500 $16,567 6.86%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 11 $2,635,000 $239,545 $13,271 7.03%
RALEIGH-CARY, NC (FHA|USDA|VA) 10 $2,600,000 $260,000 $14,365 6.97%
COLUMBUS, GA-AL (FHA|USDA|VA) 12 $2,430,000 $202,500 $10,986 6.74%
GAINESVILLE, GA (FHA|USDA|VA) 7 $2,425,000 $346,429 $17,109 6.70%
WARNER ROBINS, GA (FHA|USDA|VA) 10 $2,400,000 $240,000 $13,661 6.25%
COLUMBIA, SC (FHA|USDA|VA) 11 $2,215,000 $201,364 $11,194 6.60%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 12 $2,170,000 $180,833 $11,405 6.60%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 9 $2,155,000 $239,444 $13,226 6.83%
MOBILE, AL (FHA|USDA|VA) 11 $2,135,000 $194,091 $12,642 6.56%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 8 $2,120,000 $265,000 $15,259 6.83%
MONTGOMERY, AL (FHA|USDA|VA) 11 $2,015,000 $183,182 $11,219 6.44%
WORCESTER, MA-CT (FHA|USDA|VA) 8 $1,970,000 $246,250 $12,117 6.38%
ROANOKE, VA (FHA|USDA|VA) 7 $1,825,000 $260,714 $13,543 6.68%
PITTSBURGH, PA (FHA|USDA|VA) 11 $1,775,000 $161,364 $10,683 6.74%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 8 $1,760,000 $220,000 $12,142 6.81%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 8 $1,720,000 $215,000 $14,297 6.25%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 7 $1,655,000 $236,429 $13,575 6.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 7 $1,645,000 $235,000 $12,153 6.71%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 8 $1,580,000 $197,500 $12,175 6.70%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 5 $1,525,000 $305,000 $17,641 7.17%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 6 $1,440,000 $240,000 $12,018 6.38%
ROME, GA (FHA|USDA|VA) 6 $1,440,000 $240,000 $8,877 6.63%
JOHNSON CITY, TN (FHA|USDA|VA) 6 $1,420,000 $236,667 $13,904 6.44%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,355,000 $451,667 $19,783 7.17%
WILMINGTON, NC (FHA|USDA|VA) 5 $1,315,000 $263,000 $13,175 7.08%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 5 $1,245,000 $249,000 $17,371 6.55%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,240,000 $310,000 $15,381 6.81%
WINCHESTER, VA-WV (FHA|USDA|VA) 6 $1,210,000 $201,667 $13,607 6.75%
DOTHAN, AL (FHA|USDA|VA) 7 $1,135,000 $162,143 $10,380 6.78%
LANCASTER, PA (FHA|USDA|VA) 4 $1,120,000 $280,000 $12,108 7.06%
TALLAHASSEE, FL (FHA|USDA|VA) 5 $1,085,000 $217,000 $12,894 6.53%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 4 $1,080,000 $270,000 $13,279 6.38%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,060,000 $265,000 $15,277 6.88%
DECATUR, AL (FHA|USDA|VA) 4 $1,030,000 $257,500 $15,439 6.94%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $1,025,000 $205,000 $13,871 6.70%
Fort Payne, AL (FHA|USDA|VA) 3 $975,000 $325,000 $16,648 6.71%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $960,000 $240,000 $15,266 6.41%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $930,000 $232,500 $16,553 6.06%
TUSCALOOSA, AL (FHA|USDA|VA) 5 $905,000 $181,000 $12,068 6.63%
Tullahoma-Manchester, TN (FHA|USDA|VA) 3 $835,000 $278,333 $14,736 6.71%
GADSDEN, AL (FHA|USDA|VA) 5 $805,000 $161,000 $9,008 6.78%
JACKSONVILLE, NC (FHA|USDA|VA) 4 $790,000 $197,500 $9,478 6.91%
SPARTANBURG, SC (FHA|USDA|VA) 4 $790,000 $197,500 $12,440 6.03%
OCALA, FL (FHA|USDA|VA) 3 $785,000 $261,667 $15,952 5.79%
READING, PA (FHA|USDA|VA) 3 $785,000 $261,667 $15,712 6.29%
Calhoun, GA (FHA|USDA|VA) 4 $740,000 $185,000 $10,965 6.78%
ST. CLOUD, MN (FHA|USDA|VA) 3 $735,000 $245,000 $14,781 6.17%
Lumberton, NC (FHA|USDA|VA) 4 $730,000 $182,500 $12,740 6.90%
DALTON, GA (FHA|USDA|VA) 3 $725,000 $241,667 $16,588 6.75%
LaGrange, GA-AL (FHA|USDA|VA) 4 $700,000 $175,000 $12,425 6.63%
VALDOSTA, GA (FHA|USDA|VA) 4 $700,000 $175,000 $11,137 6.31%
Talladega-Sylacauga, AL (FHA|USDA|VA) 3 $695,000 $231,667 $12,770 6.88%
ASHEVILLE, NC (FHA|USDA|VA) 2 $690,000 $345,000 $24,679 6.88%
YORK-HANOVER, PA (FHA|USDA|VA) 3 $685,000 $228,333 $13,383 6.50%
BURLINGTON, NC (FHA|USDA|VA) 3 $655,000 $218,333 $15,076 6.63%
Palatka, FL (FHA|USDA|VA) 2 $650,000 $325,000 $21,338 7.50%
LYNCHBURG, VA (FHA|USDA|VA) 4 $640,000 $160,000 $10,771 6.41%
STAUNTON, VA (FHA|USDA|VA) 3 $635,000 $211,667 $13,842 6.92%
Union City, TN (FHA|USDA|VA) 3 $615,000 $205,000 $11,402 6.92%
Jefferson, GA (FHA|USDA|VA) 2 $600,000 $300,000 $13,026 6.75%
Thomasville, GA (FHA|USDA|VA) 2 $590,000 $295,000 $6,034 6.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $585,000 $585,000 $35,812 5.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $560,000 $280,000 $16,785 7.13%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 3 $545,000 $181,667 $12,789 7.13%
HINESVILLE, GA (FHA|USDA|VA) 3 $545,000 $181,667 $12,458 6.79%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $535,000 $178,333 $9,861 7.04%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $530,000 $265,000 $14,324 6.88%
SUMTER, SC (FHA|USDA|VA) 3 $515,000 $171,667 $10,916 6.75%
MORRISTOWN, TN (FHA|USDA|VA) 3 $505,000 $168,333 $11,454 7.08%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $500,000 $250,000 $16,009 6.19%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $16,069 6.69%
Washington, NC (FHA|USDA|VA) 3 $495,000 $165,000 $9,457 7.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $485,000 $161,667 $7,483 6.88%
STATE COLLEGE, PA (FHA|USDA|VA) 2 $480,000 $240,000 $14,476 6.50%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $445,000 $445,000 $18,018 7.63%
Shelby, NC (FHA|USDA|VA) 2 $440,000 $220,000 $13,627 6.75%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $435,000 $435,000 $15,909 7.63%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $420,000 $210,000 $14,641 5.88%
Statesboro, GA (FHA|USDA|VA) 2 $420,000 $210,000 $13,041 6.81%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $420,000 $210,000 $13,679 6.50%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 2 $410,000 $205,000 $14,754 7.19%
Waycross, GA (FHA|USDA|VA) 2 $410,000 $205,000 $11,175 6.06%
CLEVELAND, TN (FHA|USDA|VA) 2 $410,000 $205,000 $13,455 6.69%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 3 $405,000 $135,000 $8,385 6.67%
ERIE, PA (FHA|USDA|VA) 3 $385,000 $128,333 $9,397 6.63%
GETTYSBURG, PA (FHA|USDA|VA) 2 $380,000 $190,000 $12,196 5.69%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $370,000 $185,000 $13,005 6.19%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $360,000 $180,000 $15,248 7.00%
ALBANY, GA (FHA|USDA|VA) 2 $350,000 $175,000 $10,198 6.56%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $335,000 $335,000 $27,954 7.13%
McMinnville, TN (FHA|USDA|VA) 2 $320,000 $160,000 $11,403 6.88%
Albertville, AL (FHA|USDA|VA) 2 $320,000 $160,000 $8,333 8.38%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $310,000 $155,000 $11,060 5.88%
Jasper, AL (FHA|USDA|VA) 2 $310,000 $155,000 $10,724 6.63%
GAINESVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $16,539 7.13%
HARRISONBURG, VA (FHA|USDA|VA) 1 $305,000 $305,000 $20,752 6.25%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $300,000 $150,000 $11,786 6.94%
Dayton, TN (FHA|USDA|VA) 1 $295,000 $295,000 $14,530 6.13%
COLUMBUS, OH (FHA|USDA|VA) 2 $290,000 $145,000 $10,659 7.06%
PANAMA CITY, FL (FHA|USDA|VA) 1 $285,000 $285,000 $13,337 5.63%
Brainerd, MN (FHA|USDA|VA) 2 $280,000 $140,000 $9,010 6.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $280,000 $140,000 $11,382 7.13%
Henderson, NC (FHA|USDA|VA) 1 $275,000 $275,000 $17,761 6.75%
Jesup, GA (FHA|USDA|VA) 1 $275,000 $275,000 $16,791 5.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $245,000 $245,000 $14,780 6.63%
Americus, GA (FHA|USDA|VA) 1 $245,000 $245,000 $17,547 6.63%
GOLDSBORO, NC (FHA|USDA|VA) 1 $235,000 $235,000 $9,380 7.63%
Winona, MN (FHA|USDA|VA) 1 $235,000 $235,000 $6,177 8.00%
FLORENCE, SC (FHA|USDA|VA) 1 $225,000 $225,000 $15,675 6.75%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $225,000 $225,000 $15,797 7.13%
Danville, VA (FHA|USDA|VA) 1 $215,000 $215,000 $13,099 6.13%
Athens, OH (FHA|USDA|VA) 1 $215,000 $215,000 $14,624 6.75%
Greeneville, TN (FHA|USDA|VA) 1 $215,000 $215,000 $13,441 7.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $215,000 $215,000 $8,207 6.38%
Cedartown, GA (FHA|USDA|VA) 1 $215,000 $215,000 $14,163 7.38%
Cullman, AL (FHA|USDA|VA) 1 $205,000 $205,000 $10,673 6.50%
Douglas, GA (FHA|USDA|VA) 1 $205,000 $205,000 $14,052 6.50%
Toccoa, GA (FHA|USDA|VA) 1 $205,000 $205,000 $14,946 6.63%
AKRON, OH (FHA|USDA|VA) 1 $205,000 $205,000 $13,609 6.38%
BRUNSWICK, GA (FHA|USDA|VA) 1 $195,000 $195,000 $11,538 7.38%
Owatonna, MN (FHA|USDA|VA) 1 $195,000 $195,000 $12,953 6.63%
Red Wing, MN (FHA|USDA|VA) 1 $195,000 $195,000 $13,967 6.13%
Brevard, NC (FHA|USDA|VA) 1 $195,000 $195,000 $8,211 7.38%
JACKSON, TN (FHA|USDA|VA) 1 $195,000 $195,000 $12,617 6.75%
North Wilkesboro, NC (FHA|USDA|VA) 1 $185,000 $185,000 $12,856 7.13%
Cookeville, TN (FHA|USDA|VA) 1 $185,000 $185,000 $12,673 5.63%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $175,000 $175,000 $13,714 7.38%
BAY CITY, MI (FHA|USDA|VA) 1 $175,000 $175,000 $10,078 7.50%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $165,000 $165,000 $8,487 6.13%
Bainbridge, GA (FHA|USDA|VA) 1 $165,000 $165,000 $9,813 7.25%
Oil City, PA (FHA|USDA|VA) 1 $165,000 $165,000 $12,655 7.38%
Athens, TN (FHA|USDA|VA) 1 $165,000 $165,000 $11,426 7.25%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $165,000 $165,000 $11,898 7.13%
Arcadia, FL (FHA|USDA|VA) 1 $155,000 $155,000 $10,924 7.00%
St. Marys, GA (FHA|USDA|VA) 1 $155,000 $155,000 $9,304 7.13%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $8,771 6.13%
GREENVILLE, NC (FHA|USDA|VA) 1 $155,000 $155,000 $13,541 6.99%
Alexander City, AL (FHA|USDA|VA) 1 $155,000 $155,000 $11,537 5.63%
Vidalia, GA (FHA|USDA|VA) 1 $145,000 $145,000 $11,347 7.50%
Cullowhee, NC (FHA|USDA|VA) 1 $135,000 $135,000 $9,674 7.75%
Huntingdon, PA (FHA|USDA|VA) 1 $125,000 $125,000 $11,033 7.13%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $5,555 7.25%
Enterprise, AL (FHA|USDA|VA) 1 $125,000 $125,000 $7,983 6.75%
Milledgeville, GA (FHA|USDA|VA) 1 $115,000 $115,000 $9,836 6.63%
Orangeburg, SC (FHA|USDA|VA) 1 $115,000 $115,000 $8,736 6.13%
Milend's top markets include Atlanta, Washington, Nashville, Charlotte, and Richmond among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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

    Republic Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 828 $197,130,000 $238,080 $15,026 6.55%
    Conventional 284 $81,740,000 $287,817 $12,010 6.85%
    VA 193 $55,365,000 $286,865 $14,299 6.76%

    For 2023, Milend's most frequently originated type of loan was FHA, with 828 originations. Their 2nd most popular type was Conventional, with 284 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,185 $294,315,000 $248,367 $14,290 6.63%
    Home Purchase 120 $39,920,000 $332,667 $13,983 6.78%

    For 2023, Milend's most frequently cited loan purpose was Refi, with 1,185 originations. The 2nd most popular reason was Home Purchase, with 120 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,140 $298,960,000 $262,246 $14,448 6.64%
    Other 101 $21,515,000 $213,020 $13,777 6.74%
    20 Year 43 $9,185,000 $213,605 $12,052 6.72%
    15 Year 21 $4,575,000 $217,857 $11,016 6.44%

    For 2023, Milend's most frequently cited loan duration was 30 Year, with 1,140 originations. The 2nd most popular length was Other, with 101 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,186 $314,100,000 $264,840
    $4k-5k 70 $11,420,000 $163,143
    $3k-4k 33 $4,735,000 $143,485
    $1k-2k 10 $2,620,000 $262,000
    $<1k 3 $645,000 $215,000
    $2k-3k 3 $715,000 $238,333

    Milend's average total fees were $14,448, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,186 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 793 $201,725,000 $254,382
    7-8% 323 $83,205,000 $257,601
    5-6% 180 $47,370,000 $263,167
    Over 8% 5 $1,005,000 $201,000
    4-5% 4 $930,000 $232,500

    During 2023, Milend's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 793 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 653 $181,705,000 $278,262 $15,504 6.59%
    $100k-200k 502 $80,860,000 $161,076 $10,517 6.70%
    $400k-600k 126 $59,760,000 $474,286 $21,691 6.69%
    $600k-1MM 14 $9,890,000 $706,429 $29,172 6.85%
    $100,000 or less 9 $675,000 $75,000 $5,272 7.08%
    $1MM+ 1 $1,345,000 $1,345,000 $19,528 7.25%

    2023 saw Milend place emphasis on $200k-400k loans with 653 originations, totaling $181,705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 395 $81,545,000 $206,443 $12,400 6.61%
    $75k-100k 306 $77,170,000 $252,190 $14,651 6.65%
    $100k-150k 281 $87,935,000 $312,936 $16,377 6.72%
    $50k or less 189 $30,715,000 $162,513 $10,831 6.51%
    $150k-250k 111 $44,315,000 $399,234 $18,982 6.79%
    $250k+ 22 $12,190,000 $554,091 $21,131 6.88%

    Milend lent most frequently to those with incomes in the $50k-75k range, with 395 originations. The second most popular income band? $75k-100k, with 306 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 447 $110,335,000 $246,834 $14,889 6.54%
    30-36% 96 $24,080,000 $250,833 $12,836 6.77%
    48% 74 $18,850,000 $254,730 $14,789 6.69%
    49% 73 $20,905,000 $286,370 $15,745 6.70%
    46% 63 $16,185,000 $256,905 $14,926 6.52%
    45% 62 $15,350,000 $247,581 $13,734 6.65%
    44% 59 $16,585,000 $281,102 $13,257 6.70%
    20-30% 58 $12,360,000 $213,103 $11,118 6.86%
    42% 56 $14,620,000 $261,071 $14,441 6.65%
    43% 53 $14,075,000 $265,566 $14,668 6.60%
    47% 50 $11,980,000 $239,600 $14,112 6.69%
    41% 49 $13,905,000 $283,776 $14,463 6.68%
    39% 45 $12,115,000 $269,222 $14,156 6.72%
    38% 32 $8,270,000 $258,438 $13,588 6.68%
    40% 31 $8,355,000 $269,516 $12,200 6.68%
    37% 24 $6,820,000 $284,167 $14,832 6.84%
    36% 24 $7,090,000 $295,417 $14,470 6.94%
    <20% 5 $965,000 $193,000 $11,768 6.87%
    >60% 3 $1,045,000 $348,333 $15,744 6.79%

    Milend lent most frequently to those with DTI ratios of 50-60%, with 447 originations. The next most common DTI ratio? 30-36%, with 96 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 718 $192,210,000 $267,702 $14,526 6.67%
    Black 341 $81,605,000 $239,311 $13,777 6.66%
    Not provided 229 $55,655,000 $243,035 $14,049 6.54%
    Asian 13 $4,005,000 $308,077 $16,552 6.73%
    American Indian 3 $585,000 $195,000 $14,432 6.63%
    Native Hawaiian or Islander 1 $175,000 $175,000 $8,899 6.50%

    Approval Rates

    Total approvals of all applications
    89.41%

    Milend has an average approval rate.

    Pick Rate

    Approvals leading to origination
    -79.62%

    Milend 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 1,305 $334,235,000 $256,119

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,305 $334,235,000 $256,119

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $3,415,000 $179,737 $9,501 6.85%
    40-60% 179 $38,965,000 $217,682 $12,269 6.62%
    60-80% 592 $145,700,000 $246,115 $14,075 6.64%
    80-100% 512 $145,940,000 $285,039 $15,420 6.65%
    Under 20% 3 $215,000 $71,667 $2,621 7.79%