Milend Mortgage Rates, Fees & Info

Alpharetta, GA

LEI: 549300Q10M1VXBG2H889

Tax ID: 58-2200634

3.1 stars - out of 5 stars, based on 59 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Milend is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Milend 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: Atlanta, Washington, Charlotte, Minneapolis, and Philadelphia among others. We have data for 148 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Milend 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. 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 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.

    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 6.97% 12/4/22
    30 Year Conventional Refi 6.94% 12/4/22
    30 Year Cash-out Refi 7.03% 12/4/22
    30 Year FHA Purchase 7.63% 12/4/22
    30 Year FHA Refi 7.31% 12/4/22
    30 Year VA Purchase 6.89% 12/4/22
    30 Year VA Refi 6.74% 12/4/22
    30 Year USDA Purchase 7.27% 12/4/22
    30 Year USDA Refi 7.11% 12/4/22
    15 Year Conventional Purchase 6.43% 12/4/22
    15 Year Conventional Refi 6.62% 12/4/22
    15 Year Cash-out Refi 6.62% 12/4/22
    15 Year FHA Refi 5.76% 12/4/22
    15 Year VA Refi 6.87% 12/4/22
    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.


    Originations

    3,471

    Origination Dollar Volume (All Markets)

    $956,145,000

    Awards

    MILEND 30 Year Conventional Loans bronze MILEND FHA Loans silver
    Show all (2) awards

    Relative Rate

    Milend's average 30 year fixed mortgage rate was 3.15%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0%.

    Relative Fees (Closing Costs)

    Milend's average total fees/closing costs for a 30 year fixed rate mortgage were $6,622.

    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 $4,750.

    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) 1,755 $470,945,000 $268,345 $5,938 3.09%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 183 $61,245,000 $334,672 $7,298 3.20%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 108 $30,610,000 $283,426 $5,854 3.26%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 91 $24,995,000 $274,670 $6,212 3.38%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 69 $21,365,000 $309,638 $8,229 3.25%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 54 $20,520,000 $380,000 $6,348 3.00%
    GAINESVILLE, GA (FHA|USDA|VA) 74 $19,730,000 $266,622 $5,691 2.96%
    Outside of Metro Areas 71 $19,525,000 $275,000 $6,397 3.24%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 66 $18,190,000 $275,606 $6,485 3.22%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 54 $16,890,000 $312,778 $6,454 3.28%
    RALEIGH-CARY, NC (FHA|USDA|VA) 53 $15,845,000 $298,962 $5,934 3.34%
    JACKSONVILLE, FL (FHA|USDA|VA) 50 $14,160,000 $283,200 $7,034 3.39%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 46 $13,370,000 $290,652 $7,749 3.21%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 46 $13,260,000 $288,261 $6,802 3.47%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 42 $13,260,000 $315,714 $8,738 3.22%
    RICHMOND, VA (FHA|USDA|VA) 40 $10,750,000 $268,750 $6,397 3.46%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 39 $10,175,000 $260,897 $6,209 3.08%
    Jefferson, GA (FHA|USDA|VA) 30 $7,720,000 $257,333 $6,301 3.05%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 22 $5,970,000 $271,364 $7,513 3.20%
    PITTSBURGH, PA (FHA|USDA|VA) 23 $5,875,000 $255,435 $7,090 3.51%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 19 $5,715,000 $300,789 $5,372 3.16%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 24 $5,340,000 $222,500 $6,283 3.02%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 16 $5,140,000 $321,250 $6,882 3.66%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 16 $4,220,000 $263,750 $7,002 3.27%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 17 $4,175,000 $245,588 $6,914 3.10%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 15 $3,975,000 $265,000 $7,326 3.33%
    SAVANNAH, GA (FHA|USDA|VA) 17 $3,755,000 $220,882 $5,638 3.26%
    WINSTON-SALEM, NC (FHA|USDA|VA) 11 $3,415,000 $310,455 $5,958 3.22%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 11 $3,345,000 $304,091 $6,365 3.23%
    KNOXVILLE, TN (FHA|USDA|VA) 11 $3,345,000 $304,091 $6,333 3.26%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $2,765,000 $307,222 $4,755 3.22%
    ASHEVILLE, NC (FHA|USDA|VA) 12 $2,760,000 $230,000 $5,610 3.60%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 11 $2,735,000 $248,636 $5,029 3.22%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 9 $2,685,000 $298,333 $7,605 3.06%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 10 $2,600,000 $260,000 $5,614 3.34%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 9 $2,495,000 $277,222 $7,643 3.63%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 13 $2,435,000 $187,308 $4,089 3.66%
    WILMINGTON, NC (FHA|USDA|VA) 7 $2,345,000 $335,000 $8,972 3.38%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 11 $2,285,000 $207,727 $5,543 4.02%
    LANCASTER, PA (FHA|USDA|VA) 9 $2,215,000 $246,111 $7,698 3.50%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 8 $2,060,000 $257,500 $7,074 2.97%
    YORK-HANOVER, PA (FHA|USDA|VA) 8 $1,920,000 $240,000 $7,286 3.48%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 6 $1,890,000 $315,000 $8,910 2.94%
    WORCESTER, MA-CT (FHA|USDA|VA) 7 $1,835,000 $262,143 $6,713 2.71%
    ROANOKE, VA (FHA|USDA|VA) 7 $1,785,000 $255,000 $6,333 3.28%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 6 $1,780,000 $296,667 $7,571 3.25%
    ROME, GA (FHA|USDA|VA) 8 $1,760,000 $220,000 $8,146 2.84%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $1,715,000 $343,000 $6,219 2.98%
    Brainerd, MN (FHA|USDA|VA) 6 $1,650,000 $275,000 $7,084 3.31%
    READING, PA (FHA|USDA|VA) 6 $1,630,000 $271,667 $7,677 3.10%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $1,625,000 $325,000 $6,701 3.30%
    GETTYSBURG, PA (FHA|USDA|VA) 7 $1,555,000 $222,143 $6,449 3.93%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 7 $1,445,000 $206,429 $5,445 3.29%
    BRUNSWICK, GA (FHA|USDA|VA) 6 $1,440,000 $240,000 $5,764 2.96%
    WARNER ROBINS, GA (FHA|USDA|VA) 8 $1,420,000 $177,500 $4,580 2.92%
    COLUMBUS, GA-AL (FHA|USDA|VA) 6 $1,320,000 $220,000 $5,724 3.54%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 5 $1,315,000 $263,000 $5,480 3.15%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $1,280,000 $320,000 $6,173 3.13%
    Boone, NC (FHA|USDA|VA) 5 $1,225,000 $245,000 $5,399 3.08%
    THE VILLAGES, FL (FHA|USDA|VA) 4 $1,220,000 $305,000 $5,533 3.31%
    MONTGOMERY, AL (FHA|USDA|VA) 4 $1,130,000 $282,500 $6,642 2.97%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $1,070,000 $267,500 $5,692 3.03%
    FAYETTEVILLE, NC (FHA|USDA|VA) 4 $1,060,000 $265,000 $6,162 2.97%
    BURLINGTON, NC (FHA|USDA|VA) 4 $1,040,000 $260,000 $7,381 3.09%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $1,025,000 $341,667 $5,914 3.75%
    LYNCHBURG, VA (FHA|USDA|VA) 6 $1,020,000 $170,000 $5,849 3.98%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 3 $1,015,000 $338,333 $6,011 3.75%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 4 $980,000 $245,000 $4,791 3.06%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $955,000 $318,333 $7,777 2.96%
    Calhoun, GA (FHA|USDA|VA) 4 $950,000 $237,500 $6,072 3.19%
    HUNTSVILLE, AL (FHA|USDA|VA) 4 $940,000 $235,000 $5,837 2.94%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $925,000 $308,333 $5,413 3.25%
    DALTON, GA (FHA|USDA|VA) 3 $915,000 $305,000 $6,874 3.25%
    WINCHESTER, VA-WV (FHA|USDA|VA) 3 $905,000 $301,667 $6,110 3.17%
    LaGrange, GA-AL (FHA|USDA|VA) 4 $880,000 $220,000 $7,185 3.31%
    MOBILE, AL (FHA|USDA|VA) 3 $835,000 $278,333 $12,057 3.58%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $805,000 $268,333 $8,436 3.08%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $770,000 $385,000 $9,450 3.38%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $755,000 $251,667 $4,138 3.13%
    PUNTA GORDA, FL (FHA|USDA|VA) 3 $755,000 $251,667 $7,391 3.04%
    DOTHAN, AL (FHA|USDA|VA) 3 $735,000 $245,000 $4,614 4.38%
    TALLAHASSEE, FL (FHA|USDA|VA) 4 $730,000 $182,500 $5,080 3.06%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 2 $730,000 $365,000 $5,178 3.25%
    TUSCALOOSA, AL (FHA|USDA|VA) 3 $705,000 $235,000 $5,944 3.04%
    Fergus Falls, MN (FHA|USDA|VA) 3 $705,000 $235,000 $5,097 3.83%
    Cullowhee, NC (FHA|USDA|VA) 3 $675,000 $225,000 $4,625 3.92%
    Ozark, AL (FHA|USDA|VA) 4 $640,000 $160,000 $4,210 3.28%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $640,000 $320,000 $8,482 3.19%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $530,000 $265,000 $6,384 3.00%
    JOHNSON CITY, TN (FHA|USDA|VA) 2 $520,000 $260,000 $4,646 3.13%
    Marion, NC (FHA|USDA|VA) 1 $515,000 $515,000 $8,844 3.75%
    STAUNTON, VA (FHA|USDA|VA) 2 $490,000 $245,000 $5,558 3.25%
    ROCKY MOUNT, NC (FHA|USDA|VA) 3 $485,000 $161,667 $4,068 3.08%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $480,000 $240,000 $5,480 3.25%
    Sanford, NC (FHA|USDA|VA) 2 $470,000 $235,000 $6,240 3.31%
    Brevard, NC (FHA|USDA|VA) 2 $470,000 $235,000 $4,861 3.19%
    VALDOSTA, GA (FHA|USDA|VA) 3 $435,000 $145,000 $3,868 4.00%
    Thomaston, GA (FHA|USDA|VA) 2 $400,000 $200,000 $5,349 2.44%
    Bemidji, MN (FHA|USDA|VA) 2 $400,000 $200,000 $6,675 3.81%
    DECATUR, AL (FHA|USDA|VA) 1 $395,000 $395,000 $9,503 3.88%
    Thomasville, GA (FHA|USDA|VA) 2 $380,000 $190,000 $5,058 2.88%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $365,000 $365,000 $7,384 3.50%
    Roanoke Rapids, NC (FHA|USDA|VA) 2 $360,000 $180,000 $5,211 3.06%
    Cedartown, GA (FHA|USDA|VA) 1 $345,000 $345,000 $6,784 3.38%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $335,000 $335,000 $9,839 2.88%
    Cornelia, GA (FHA|USDA|VA) 2 $330,000 $165,000 $3,680 4.44%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $325,000 $325,000 $4,968 3.63%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $320,000 $160,000 $2,927 3.00%
    Fort Payne, AL (FHA|USDA|VA) 1 $315,000 $315,000 $10,302 3.25%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $315,000 $315,000 $5,971 3.75%
    Faribault-Northfield, MN (FHA|USDA|VA) 2 $310,000 $155,000 $6,831 2.44%
    Forest City, NC (FHA|USDA|VA) 1 $305,000 $305,000 $6,507 3.00%
    New Castle, PA (FHA|USDA|VA) 2 $300,000 $150,000 $4,457 4.38%
    St. Marys, GA (FHA|USDA|VA) 2 $300,000 $150,000 $3,045 4.38%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $295,000 $295,000 $3,624 3.13%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $295,000 $295,000 $4,971 3.00%
    Selinsgrove, PA (FHA|USDA|VA) 1 $295,000 $295,000 $12,684 2.50%
    Red Wing, MN (FHA|USDA|VA) 1 $285,000 $285,000 $3,346 3.38%
    Shelby, NC (FHA|USDA|VA) 1 $285,000 $285,000 $9,247 3.38%
    Easton, MD (FHA|USDA|VA) 1 $275,000 $275,000 $11,140 2.25%
    MANKATO, MN (FHA|USDA|VA) 2 $270,000 $135,000 $2,259 5.00%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $265,000 $265,000 $5,597 3.13%
    Douglas, GA (FHA|USDA|VA) 1 $255,000 $255,000 $5,613 2.63%
    Georgetown, SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,401 3.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $255,000 $255,000 $6,555 2.88%
    Albertville, AL (FHA|USDA|VA) 1 $255,000 $255,000 $5,687 2.88%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $255,000 $255,000 $3,898 3.00%
    Enterprise, AL (FHA|USDA|VA) 1 $245,000 $245,000 $9,569 2.50%
    Hutchinson, MN (FHA|USDA|VA) 1 $245,000 $245,000 $5,200 3.13%
    GADSDEN, AL (FHA|USDA|VA) 1 $235,000 $235,000 $5,415 3.38%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $6,127 3.00%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $235,000 $235,000 $6,063 2.99%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,719 3.25%
    Dublin, GA (FHA|USDA|VA) 1 $215,000 $215,000 $5,966 2.88%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $215,000 $215,000 $4,335 2.63%
    Willmar, MN (FHA|USDA|VA) 1 $215,000 $215,000 $9,373 2.50%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $215,000 $215,000 $5,317 3.38%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $215,000 $215,000 $4,900 2.75%
    GREENVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $9,810 3.00%
    GOLDSBORO, NC (FHA|USDA|VA) 1 $205,000 $205,000 $4,286 2.50%
    Owatonna, MN (FHA|USDA|VA) 1 $205,000 $205,000 $2,441 3.25%
    OCALA, FL (FHA|USDA|VA) 1 $195,000 $195,000 $9,728 3.13%
    Milledgeville, GA (FHA|USDA|VA) 1 $195,000 $195,000 $7,260 3.13%
    NEW BERN, NC (FHA|USDA|VA) 1 $195,000 $195,000 $10,511 3.13%
    Jesup, GA (FHA|USDA|VA) 1 $115,000 $115,000 $4,921 2.99%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $115,000 $115,000 $4,756 2.75%
    Toccoa, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,252 3.38%
    ALBANY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $4,790 3.00%
    Milend's top markets include Atlanta, Washington, Charlotte, Minneapolis, and Philadelphia among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Maryland (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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,025 $827,705,000 $273,621 $5,811 3.19%
    FHA 291 $79,045,000 $271,632 $10,103 2.91%
    VA 150 $48,490,000 $323,267 $7,677 3.21%
    USDA 5 $905,000 $181,000 $6,118 3.08%

    For 2021, Milend's most frequently originated type of loan was Conventional, with 3,025 originations. Their 2nd most popular type was FHA, with 291 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,167 $592,485,000 $273,413 $6,092 3.11%
    Cash Out Refi 890 $236,560,000 $265,798 $6,608 3.34%
    Home Purchase 414 $127,100,000 $307,005 $6,326 3.11%

    For 2021, Milend's most frequently cited loan purpose was Refi, with 2,167 originations. The 2nd most popular reason was Cash Out Refi, with 890 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,772 $801,420,000 $289,113 $6,622 3.15%
    15 Year 372 $80,640,000 $216,774 $4,686 3.04%
    20 Year 236 $51,070,000 $216,398 $4,606 3.69%
    Other 62 $17,310,000 $279,194 $6,168 2.96%
    10 Year 29 $5,705,000 $196,724 $4,653 2.66%

    For 2021, Milend's most frequently cited loan duration was 30 Year, with 2,772 originations. The 2nd most popular length was 15 Year, with 372 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 811 $294,925,000 $363,656
    $3k-4k 722 $166,750,000 $230,956
    $1k-2k 676 $189,880,000 $280,888
    $4k-5k 651 $183,415,000 $281,743
    $2k-3k 461 $98,185,000 $212,983
    $<1k 150 $22,990,000 $153,267

    Milend's average total fees were $6,622, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 811 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,565 $448,445,000 $286,546
    2.5-3% 1,342 $375,970,000 $280,156
    <2.5% 371 $102,825,000 $277,156
    4-5% 85 $20,655,000 $243,000
    5-6% 83 $6,615,000 $79,699
    6-7% 25 $1,635,000 $65,400

    During 2021, Milend's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 3-4%, with 1,565 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,159 $615,145,000 $284,921 $6,601 3.09%
    $100k-200k 700 $111,200,000 $158,857 $4,731 3.11%
    $400k-600k 448 $208,960,000 $466,429 $8,132 3.10%
    $100,000 or less 148 $9,830,000 $66,419 $2,017 4.89%
    $600k-1MM 16 $11,010,000 $688,125 $12,458 3.09%

    2021 saw Milend place emphasis on $200k-400k loans with 2,159 originations, totaling $615,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 927 $280,815,000 $302,929 $6,384 3.21%
    $50k-75k 872 $199,990,000 $229,346 $6,040 3.16%
    $75k-100k 709 $187,185,000 $264,013 $6,373 3.18%
    $150k-250k 486 $168,120,000 $345,926 $6,714 3.25%
    $50k or less 348 $69,630,000 $200,086 $5,420 2.99%
    $250k+ 125 $49,355,000 $394,840 $6,643 3.11%

    Milend lent most frequently to those with incomes in the $100k-150k range, with 927 originations. The second most popular income band? $50k-75k, with 872 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 625 $172,605,000 $276,168 $5,941 3.18%
    20-30% 544 $147,090,000 $270,386 $5,692 3.02%
    44% 226 $63,710,000 $281,903 $6,441 3.18%
    42% 185 $49,825,000 $269,324 $6,228 3.51%
    43% 183 $50,845,000 $277,842 $6,598 3.19%
    41% 165 $43,425,000 $263,182 $5,821 3.39%
    39% 164 $43,280,000 $263,902 $6,106 3.38%
    50-60% 161 $46,275,000 $287,422 $9,804 3.00%
    38% 160 $43,760,000 $273,500 $6,255 3.31%
    40% 160 $41,880,000 $261,750 $5,957 3.35%
    <20% 145 $38,475,000 $265,345 $5,401 2.97%
    36% 125 $36,925,000 $295,400 $6,053 3.18%
    45% 117 $32,535,000 $278,077 $6,882 3.25%
    37% 110 $31,130,000 $283,000 $6,254 3.22%
    49% 108 $30,390,000 $281,389 $6,314 3.03%
    47% 90 $25,420,000 $282,444 $6,414 3.00%
    48% 75 $22,075,000 $294,333 $6,831 3.03%
    46% 65 $17,975,000 $276,538 $6,827 3.08%
    >60% 6 $1,750,000 $291,667 $6,966 3.25%

    Milend lent most frequently to those with DTI ratios of 30-36%, with 625 originations. The next most common DTI ratio? 20-30%, with 544 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,730 $758,980,000 $278,015 $6,230 3.15%
    Black 453 $120,825,000 $266,722 $6,486 3.24%
    Not provided 164 $43,350,000 $264,329 $6,326 3.26%
    Asian 114 $30,410,000 $266,754 $5,828 3.11%
    American Indian 7 $1,695,000 $242,143 $5,396 3.89%
    Asian Indian 2 $560,000 $280,000 $6,745 3.38%
    Native Hawaiian or Islander 1 $325,000 $325,000 $4,709 2.50%

    Approval Rates

    Total approvals of all applications
    94.94%

    Milend has an average approval rate.

    Pick Rate

    Approvals leading to origination
    51.92%

    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 3,471 $956,145,000 $275,467

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,471 $956,145,000 $275,467

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 118 $18,160,000 $153,898 $3,578 3.74%
    40-60% 500 $123,360,000 $246,720 $5,045 2.86%
    60-80% 1,936 $560,330,000 $289,427 $6,453 3.15%
    80-100% 822 $246,570,000 $299,964 $7,398 3.09%
    Over 100% 9 $2,725,000 $302,778 $7,700 2.83%
    Under 20% 86 $5,000,000 $58,140 $1,363 5.53%