Milend Mortgage Rates, Fees & Info
Alpharetta, GALEI: 549300Q10M1VXBG2H889
Tax ID: 58-2200634
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Mortgage Data
Review & Overview
Milend is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Milend has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Washington, Boston, Baltimore, and Minneapolis among others. We have data for 123 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 an average 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 | 6.85% | 12/16/24 |
| 30 Year Conventional Refi | 6.91% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 7.47% | 12/16/24 |
| 30 Year FHA Refi | 7.26% | 12/16/24 |
| 30 Year VA Purchase | 6.57% | 12/16/24 |
| 30 Year VA Refi | 6.71% | 12/16/24 |
| 30 Year USDA Purchase | 6.47% | 12/16/24 |
| 15 Year Conventional Purchase | 6.72% | 12/16/24 |
| 15 Year Conventional Refi | 6.68% | 12/16/24 |
| 15 Year Cash-out Refi | 6.68% | 12/16/24 |
| 15 Year FHA Refi | 7.24% | 12/16/24 |
| 15 Year VA Refi | 6.72% | 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,795Origination Dollar Volume (All Markets)
$407,595,000Awards
MILEND - 2018
MILEND is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 784 | $179,620,000 | $229,107 | $6,834 | 5.02% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 85 | $24,235,000 | $285,118 | $8,665 | 4.99% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 64 | $18,550,000 | $289,844 | $8,774 | 5.06% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 66 | $15,620,000 | $236,667 | $8,201 | 5.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 54 | $12,600,000 | $233,333 | $6,768 | 5.14% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 47 | $11,545,000 | $245,638 | $8,280 | 5.31% |
| Outside of Metro Areas | 45 | $10,065,000 | $223,667 | $6,313 | 4.95% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 43 | $9,775,000 | $227,326 | $7,671 | 5.07% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 38 | $9,000,000 | $236,842 | $6,427 | 5.28% |
| RICHMOND, VA (FHA|USDA|VA) | 36 | $6,240,000 | $173,333 | $6,176 | 5.28% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 27 | $5,565,000 | $206,111 | $6,027 | 5.41% |
| GAINESVILLE, GA (FHA|USDA|VA) | 24 | $5,560,000 | $231,667 | $7,192 | 5.08% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 24 | $5,330,000 | $222,083 | $7,688 | 5.34% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 25 | $5,265,000 | $210,600 | $7,985 | 5.07% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 23 | $4,495,000 | $195,435 | $5,597 | 5.26% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 22 | $4,210,000 | $191,364 | $7,484 | 5.14% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 19 | $4,155,000 | $218,684 | $5,812 | 5.17% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 15 | $3,835,000 | $255,667 | $7,017 | 5.43% |
| Jefferson, GA (FHA|USDA|VA) | 16 | $3,600,000 | $225,000 | $7,279 | 5.16% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 12 | $3,400,000 | $283,333 | $8,530 | 5.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 12 | $2,320,000 | $193,333 | $6,314 | 5.61% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 9 | $2,145,000 | $238,333 | $8,002 | 5.49% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 9 | $1,895,000 | $210,556 | $6,194 | 5.58% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 11 | $1,895,000 | $172,273 | $5,890 | 5.17% |
| PITTSBURGH, PA (FHA|USDA|VA) | 9 | $1,875,000 | $208,333 | $8,975 | 5.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 6 | $1,730,000 | $288,333 | $8,807 | 4.94% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $8,985 | 5.22% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 7 | $1,645,000 | $235,000 | $7,294 | 4.59% |
| SAVANNAH, GA (FHA|USDA|VA) | 9 | $1,615,000 | $179,444 | $6,018 | 5.15% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 8 | $1,590,000 | $198,750 | $6,399 | 5.39% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 7 | $1,495,000 | $213,571 | $6,597 | 5.14% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 8 | $1,430,000 | $178,750 | $5,087 | 5.77% |
| LANCASTER, PA (FHA|USDA|VA) | 8 | $1,410,000 | $176,250 | $6,378 | 5.47% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 7 | $1,405,000 | $200,714 | $6,401 | 5.04% |
| ST. CLOUD, MN (FHA|USDA|VA) | 8 | $1,270,000 | $158,750 | $5,254 | 5.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $1,265,000 | $180,714 | $6,512 | 4.98% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 8 | $1,240,000 | $155,000 | $5,530 | 5.06% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $5,554 | 5.30% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $8,006 | 5.53% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $8,206 | 5.03% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $9,562 | 4.85% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 6 | $1,060,000 | $176,667 | $5,643 | 5.46% |
| WILMINGTON, NC (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $6,714 | 5.50% |
| LYNCHBURG, VA (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $5,913 | 5.25% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $7,826 | 4.81% |
| KNOXVILLE, TN (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $4,851 | 5.44% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $5,256 | 5.59% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $7,044 | 4.66% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $4,271 | 4.59% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $7,180 | 4.84% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $8,970 | 5.25% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $11,851 | 4.31% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $10,110 | 4.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $6,303 | 5.10% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $6,227 | 5.88% |
| Cullman, AL (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $6,639 | 5.54% |
| READING, PA (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $6,879 | 4.81% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $6,263 | 5.81% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $7,241 | 4.69% |
| DULUTH, MN-WI (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $4,246 | 6.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $4,927 | 5.09% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $7,054 | 5.94% |
| MOBILE, AL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $6,172 | 4.63% |
| ROME, GA (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $8,099 | 5.25% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,321 | 5.38% |
| MONTGOMERY, AL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $7,668 | 4.92% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $9,552 | 4.69% |
| Forest City, NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $10,542 | 4.81% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $5,485 | 6.00% |
| DECATUR, AL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,391 | 5.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $9,903 | 4.63% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $9,393 | 4.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $8,647 | 4.50% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,665 | 4.94% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $9,191 | 4.75% |
| Winona, MN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $12,429 | 4.38% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,004 | 6.08% |
| Easton, MD (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,119 | 5.06% |
| OCALA, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $5,172 | 5.19% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,231 | 5.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $6,143 | 4.96% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,497 | 4.63% |
| Waycross, GA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $6,406 | 5.13% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,664 | 4.38% |
| Wilson, NC (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,519 | 5.21% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $15,900 | 4.38% |
| Calhoun, GA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,146 | 5.19% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $13,876 | 4.63% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $13,354 | 5.25% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,198 | 5.00% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $14,152 | 4.25% |
| Key West, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,266 | 5.49% |
| Shelby, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,624 | 4.38% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,881 | 4.81% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,730 | 3.88% |
| Douglas, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,551 | 5.50% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,155 | 4.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,801 | 4.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $10,840 | 4.75% |
| Moultrie, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,466 | 3.88% |
| Summerville, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,768 | 5.38% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,682 | 5.13% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,199 | 4.75% |
| Seneca, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,234 | 4.75% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,335 | 5.50% |
| Danville, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,070 | 5.25% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,727 | 4.38% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,352 | 5.25% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $8,312 | 4.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,933 | 5.25% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,697 | 3.88% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,571 | 5.13% |
| Marion, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,845 | 3.75% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,009 | 5.25% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,485 | 3.75% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,273 | 4.38% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,233 | 4.38% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,795 | 4.38% |
| DALTON, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,109 | 6.50% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,060 | 5.63% |
| Austin, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,883 | 4.88% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,791 | 6.63% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,550 | 5.63% |
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
For 2018, Milend's most frequently originated type of loan was Conventional, with 1,109 originations. Their 2nd most popular type was FHA, with 540 originations.
Loan Reason
For 2018, Milend's most frequently cited loan purpose was Refi, with 770 originations. The 2nd most popular reason was Cash Out Refi, with 669 originations.
Loan Duration/Length
For 2018, Milend's most frequently cited loan duration was 30 Year, with 1,384 originations. The 2nd most popular length was 20 Year, with 210 originations.
Origination Fees/Closing Costs
Milend's average total fees were $7,778, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 403 originations.
Interest Rates
During 2018, Milend's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 4-5%, with 962 originations.
Loan Sizing
2018 saw Milend place emphasis on $200k-400k loans with 983 originations, totaling $267,345,000 in origination value.
Applicant Income
Milend lent most frequently to those with incomes in the $100k-150k range, with 500 originations. The second most popular income band? $50k-75k, with 458 originations.
Applicant Debt to Income Ratio
Milend lent most frequently to those with DTI ratios of 50-60%, with 307 originations. The next most common DTI ratio? 30-36%, with 258 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.96%
Milend has an average approval rate.
Pick Rate
Approvals leading to origination16.49%
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 | 1,795 | $407,595,000 | $227,072 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $85,000 | $85,000 |
| Single Family (1-4 Units):Site-Built | 1,794 | $407,510,000 | $227,152 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MILEND, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |