Milend Mortgage Rates, Fees & Info

Alpharetta, GA

LEI: 549300Q10M1VXBG2H889

Tax ID: 58-2200634

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

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  • Approval & Pick Rates
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  • Origination Fees (Closing Costs)

    • Review & Overview

    Milend is a smaller mortgage company specializing in 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, Boston, Baltimore, and Minneapolis among others. We have data for 142 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 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.

    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% 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.

    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

    3,120

    Origination Dollar Volume (All Markets)

    $843,220,000

    Awards

    MILEND 30 Year Conventional Loans silver MILEND 30 Year Conventional Loans bronze MILEND 30 Year Conventional Loans bronze
    Show all (3) awards

    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) 1,702 $449,570,000 $264,142 $5,884 3.20%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 176 $59,620,000 $338,750 $7,229 3.23%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 61 $20,645,000 $338,443 $6,116 3.26%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 67 $20,585,000 $307,239 $7,027 3.20%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 77 $20,375,000 $264,610 $6,346 3.61%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 67 $19,835,000 $296,045 $5,599 3.41%
    RALEIGH-CARY, NC (FHA|USDA|VA) 51 $15,645,000 $306,765 $6,525 3.39%
    GAINESVILLE, GA (FHA|USDA|VA) 54 $14,210,000 $263,148 $5,408 3.09%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 45 $13,485,000 $299,667 $7,827 3.16%
    RICHMOND, VA (FHA|USDA|VA) 45 $11,925,000 $265,000 $6,554 3.48%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 44 $11,630,000 $264,318 $7,121 3.27%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 47 $11,435,000 $243,298 $6,057 3.17%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 41 $11,375,000 $277,439 $7,581 3.69%
    Outside of Metro Areas 50 $11,340,000 $226,800 $5,705 3.09%
    Jefferson, GA (FHA|USDA|VA) 37 $9,045,000 $244,459 $5,659 3.09%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 30 $8,760,000 $292,000 $7,497 3.39%
    JACKSONVILLE, FL (FHA|USDA|VA) 29 $8,065,000 $278,103 $8,337 3.56%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 26 $7,490,000 $288,077 $6,470 3.44%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 21 $5,335,000 $254,048 $7,138 3.53%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 17 $5,035,000 $296,176 $5,643 3.41%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 18 $4,940,000 $274,444 $5,863 3.12%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 15 $4,725,000 $315,000 $8,444 3.26%
    PITTSBURGH, PA (FHA|USDA|VA) 18 $3,890,000 $216,111 $6,589 3.50%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 11 $2,725,000 $247,727 $7,262 3.07%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $2,665,000 $242,273 $7,142 3.93%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $2,640,000 $264,000 $7,260 3.17%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $2,285,000 $326,429 $12,759 3.39%
    WORCESTER, MA-CT (FHA|USDA|VA) 9 $2,255,000 $250,556 $5,296 2.74%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $2,250,000 $281,250 $5,226 3.34%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 7 $2,225,000 $317,857 $6,858 3.11%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 8 $2,150,000 $268,750 $7,777 3.11%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 10 $2,040,000 $204,000 $5,707 3.69%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 8 $2,000,000 $250,000 $6,716 2.86%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 9 $1,865,000 $207,222 $3,969 3.76%
    WINSTON-SALEM, NC (FHA|USDA|VA) 8 $1,830,000 $228,750 $5,272 3.11%
    SAVANNAH, GA (FHA|USDA|VA) 8 $1,800,000 $225,000 $6,677 3.20%
    ASHEVILLE, NC (FHA|USDA|VA) 7 $1,765,000 $252,143 $5,958 3.36%
    WILMINGTON, NC (FHA|USDA|VA) 5 $1,745,000 $349,000 $5,230 3.97%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 6 $1,640,000 $273,333 $8,352 3.62%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 6 $1,630,000 $271,667 $5,564 3.88%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,615,000 $323,000 $6,037 3.68%
    READING, PA (FHA|USDA|VA) 6 $1,600,000 $266,667 $7,713 3.17%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $1,600,000 $400,000 $6,172 3.06%
    ROANOKE, VA (FHA|USDA|VA) 6 $1,570,000 $261,667 $5,897 3.06%
    PANAMA CITY, FL (FHA|USDA|VA) 5 $1,395,000 $279,000 $9,706 2.70%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 6 $1,310,000 $218,333 $6,347 3.17%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $1,295,000 $431,667 $14,501 3.21%
    KNOXVILLE, TN (FHA|USDA|VA) 7 $1,295,000 $185,000 $6,001 3.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 5 $1,245,000 $249,000 $6,343 3.93%
    LANCASTER, PA (FHA|USDA|VA) 5 $1,185,000 $237,000 $6,835 3.15%
    BRUNSWICK, GA (FHA|USDA|VA) 4 $1,170,000 $292,500 $6,654 3.16%
    WARNER ROBINS, GA (FHA|USDA|VA) 5 $1,145,000 $229,000 $4,947 3.60%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 5 $1,135,000 $227,000 $6,668 3.73%
    Boone, NC (FHA|USDA|VA) 5 $1,125,000 $225,000 $5,453 3.40%
    HUNTSVILLE, AL (FHA|USDA|VA) 5 $1,115,000 $223,000 $4,602 3.50%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 4 $1,100,000 $275,000 $5,469 2.66%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 5 $1,095,000 $219,000 $4,602 4.20%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $1,070,000 $267,500 $6,237 3.50%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $1,065,000 $213,000 $5,663 3.00%
    COLUMBUS, GA-AL (FHA|USDA|VA) 4 $1,060,000 $265,000 $5,988 2.93%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,000,000 $250,000 $5,844 3.44%
    YORK-HANOVER, PA (FHA|USDA|VA) 4 $1,000,000 $250,000 $9,929 3.38%
    LYNCHBURG, VA (FHA|USDA|VA) 4 $1,000,000 $250,000 $7,203 3.16%
    Morehead City, NC (FHA|USDA|VA) 3 $995,000 $331,667 $5,749 2.83%
    TUSCALOOSA, AL (FHA|USDA|VA) 3 $965,000 $321,667 $7,481 3.04%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 4 $930,000 $232,500 $5,834 2.78%
    BURLINGTON, NC (FHA|USDA|VA) 4 $900,000 $225,000 $5,449 3.31%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 4 $870,000 $217,500 $5,163 3.16%
    ST. CLOUD, MN (FHA|USDA|VA) 3 $835,000 $278,333 $6,514 3.17%
    TALLAHASSEE, FL (FHA|USDA|VA) 4 $820,000 $205,000 $5,236 3.06%
    MONTGOMERY, AL (FHA|USDA|VA) 4 $820,000 $205,000 $5,396 3.06%
    Milledgeville, GA (FHA|USDA|VA) 2 $630,000 $315,000 $8,773 2.94%
    STATE COLLEGE, PA (FHA|USDA|VA) 2 $620,000 $310,000 $8,628 3.13%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $620,000 $310,000 $4,999 3.25%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $590,000 $295,000 $6,271 3.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $575,000 $191,667 $4,696 4.21%
    MOBILE, AL (FHA|USDA|VA) 2 $570,000 $285,000 $4,553 4.13%
    GOLDSBORO, NC (FHA|USDA|VA) 2 $570,000 $285,000 $7,195 4.00%
    MANKATO, MN (FHA|USDA|VA) 2 $570,000 $285,000 $6,224 3.25%
    VALDOSTA, GA (FHA|USDA|VA) 2 $570,000 $285,000 $6,622 3.06%
    Brevard, NC (FHA|USDA|VA) 3 $545,000 $181,667 $5,189 3.25%
    Cedartown, GA (FHA|USDA|VA) 4 $540,000 $135,000 $5,063 3.31%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $535,000 $178,333 $5,258 3.63%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $530,000 $132,500 $4,190 4.56%
    ROME, GA (FHA|USDA|VA) 2 $510,000 $255,000 $8,635 3.06%
    ERIE, PA (FHA|USDA|VA) 3 $505,000 $168,333 $5,852 3.67%
    GAINESVILLE, FL (FHA|USDA|VA) 2 $470,000 $235,000 $6,240 2.75%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $470,000 $235,000 $6,938 2.94%
    Albemarle, NC (FHA|USDA|VA) 1 $455,000 $455,000 $11,422 2.75%
    Tifton, GA (FHA|USDA|VA) 3 $395,000 $131,667 $5,176 3.33%
    Calhoun, GA (FHA|USDA|VA) 2 $390,000 $195,000 $3,189 3.19%
    JACKSONVILLE, NC (FHA|USDA|VA) 2 $370,000 $185,000 $4,138 3.31%
    GETTYSBURG, PA (FHA|USDA|VA) 2 $370,000 $185,000 $6,706 3.00%
    Cornelia, GA (FHA|USDA|VA) 2 $360,000 $180,000 $6,175 2.88%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $355,000 $355,000 $4,336 2.88%
    Hutchinson, MN (FHA|USDA|VA) 1 $345,000 $345,000 $7,645 2.75%
    ALBANY, GA (FHA|USDA|VA) 1 $345,000 $345,000 $7,429 3.25%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $325,000 $325,000 $8,408 2.75%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $325,000 $325,000 $14,765 4.63%
    Greenwood, SC (FHA|USDA|VA) 1 $315,000 $315,000 $12,474 3.38%
    Ozark, AL (FHA|USDA|VA) 2 $310,000 $155,000 $5,532 3.06%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $305,000 $305,000 $11,032 3.63%
    Fergus Falls, MN (FHA|USDA|VA) 1 $295,000 $295,000 $4,326 2.88%
    Roanoke Rapids, NC (FHA|USDA|VA) 1 $285,000 $285,000 $6,671 3.13%
    New Ulm, MN (FHA|USDA|VA) 1 $285,000 $285,000 $6,126 3.13%
    Easton, MD (FHA|USDA|VA) 1 $285,000 $285,000 $8,763 3.38%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $285,000 $285,000 $6,262 3.88%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $280,000 $140,000 $3,311 5.00%
    Cullowhee, NC (FHA|USDA|VA) 1 $275,000 $275,000 $10,674 3.88%
    Brainerd, MN (FHA|USDA|VA) 1 $275,000 $275,000 $5,598 3.25%
    Cookeville, TN (FHA|USDA|VA) 1 $275,000 $275,000 $2,935 2.88%
    Douglas, GA (FHA|USDA|VA) 1 $275,000 $275,000 $13,771 2.75%
    Crossville, TN (FHA|USDA|VA) 1 $265,000 $265,000 $9,458 4.50%
    Vidalia, GA (FHA|USDA|VA) 1 $265,000 $265,000 $8,092 3.13%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $265,000 $265,000 $9,677 3.38%
    Sunbury, PA (FHA|USDA|VA) 1 $255,000 $255,000 $6,509 3.13%
    ROCHESTER, MN (FHA|USDA|VA) 1 $255,000 $255,000 $3,272 3.25%
    STAUNTON, VA (FHA|USDA|VA) 1 $255,000 $255,000 $6,001 2.88%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 2 $250,000 $125,000 $3,865 4.13%
    Shelby, NC (FHA|USDA|VA) 1 $245,000 $245,000 $5,806 3.38%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $245,000 $245,000 $5,469 3.00%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $245,000 $245,000 $5,052 3.63%
    Winona, MN (FHA|USDA|VA) 1 $225,000 $225,000 $3,906 3.00%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $225,000 $225,000 $6,458 3.50%
    JACKSON, TN (FHA|USDA|VA) 1 $225,000 $225,000 $5,588 3.88%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $225,000 $225,000 $3,382 2.88%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $225,000 $225,000 $6,842 3.13%
    Statesboro, GA (FHA|USDA|VA) 1 $215,000 $215,000 $8,128 3.25%
    DALTON, GA (FHA|USDA|VA) 1 $205,000 $205,000 $5,055 4.00%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $205,000 $205,000 $3,643 2.38%
    NEW BERN, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,827 3.00%
    Greeneville, TN (FHA|USDA|VA) 1 $185,000 $185,000 $3,076 2.88%
    LEBANON, PA (FHA|USDA|VA) 1 $185,000 $185,000 $7,316 2.88%
    Wilson, NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,685 3.25%
    Seneca, SC (FHA|USDA|VA) 1 $175,000 $175,000 $3,201 3.75%
    CLEVELAND, TN (FHA|USDA|VA) 1 $165,000 $165,000 $3,192 2.75%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $165,000 $165,000 $5,277 2.75%
    Danville, VA (FHA|USDA|VA) 1 $155,000 $155,000 $5,052 2.75%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $4,255 3.25%
    OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $7,378 2.50%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $105,000 $105,000 $3,933 3.38%
    ALTOONA, PA (FHA|USDA|VA) 1 $105,000 $105,000 $4,921 3.88%
    Milend's top markets include Atlanta, Washington, Boston, Baltimore, and Minneapolis among others.

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

    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 90
    M. S. Flynn, Inc.
    Similarity Rank: 236
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    TRI BORO
    Similarity Rank: 264
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    Piscataqua Savings Bank
    Similarity Rank: 310
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 372
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    ABNB Federal Credit Union
    Similarity Rank: 496

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,655 $712,705,000 $268,439 $5,663 3.27%
    FHA 319 $85,075,000 $266,693 $10,090 3.14%
    VA 137 $43,545,000 $317,847 $7,511 3.26%
    USDA 9 $1,895,000 $210,556 $5,898 2.75%

    For 2020, Milend's most frequently originated type of loan was Conventional, with 2,655 originations. Their 2nd most popular type was FHA, with 319 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,949 $538,955,000 $276,529 $6,272 3.09%
    Cash Out Refi 690 $166,210,000 $240,884 $6,029 3.74%
    Home Purchase 481 $138,055,000 $287,017 $6,138 3.21%

    For 2020, Milend's most frequently cited loan purpose was Refi, with 1,949 originations. The 2nd most popular reason was Cash Out Refi, with 690 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,406 $682,550,000 $283,687 $6,545 3.21%
    15 Year 341 $74,235,000 $217,698 $4,970 3.16%
    20 Year 248 $56,490,000 $227,782 $4,729 3.88%
    Other 100 $25,390,000 $253,900 $5,954 3.12%
    10 Year 25 $4,555,000 $182,200 $4,989 3.02%

    For 2020, Milend's most frequently cited loan duration was 30 Year, with 2,406 originations. The 2nd most popular length was 15 Year, with 341 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 681 $185,625,000 $272,577
    $5k+ 671 $234,745,000 $349,844
    $3k-4k 639 $149,315,000 $233,670
    $4k-5k 568 $157,970,000 $278,116
    $2k-3k 442 $93,970,000 $212,602
    $<1k 118 $21,560,000 $182,712

    Milend's average total fees were $6,545, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 681 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,278 $351,200,000 $274,804
    2.5-3% 1,261 $352,245,000 $279,338
    <2.5% 285 $81,105,000 $284,579
    4-5% 189 $46,825,000 $247,751
    5-6% 65 $8,245,000 $126,846
    6-7% 35 $3,175,000 $90,714
    7-8% 6 $340,000 $56,667
    Over 8% 1 $85,000 $85,000

    During 2020, Milend's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 1,278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,923 $544,095,000 $282,941 $6,616 3.15%
    $100k-200k 653 $103,715,000 $158,828 $4,821 3.24%
    $400k-600k 388 $177,260,000 $456,856 $7,674 3.14%
    $100,000 or less 146 $10,360,000 $70,959 $2,466 4.96%
    $600k-1MM 8 $5,140,000 $642,500 $12,277 3.39%
    $1MM+ 2 $2,650,000 $1,325,000 $14,436 3.13%

    2020 saw Milend place emphasis on $200k-400k loans with 1,923 originations, totaling $544,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 902 $259,740,000 $287,960 $6,301 3.30%
    $50k-75k 659 $147,395,000 $223,665 $6,052 3.20%
    $75k-100k 635 $161,605,000 $254,496 $6,223 3.23%
    $150k-250k 501 $169,065,000 $337,455 $6,685 3.34%
    $50k or less 330 $68,540,000 $207,697 $5,320 3.14%
    $250k+ 93 $36,875,000 $396,505 $6,538 3.33%

    Milend lent most frequently to those with incomes in the $100k-150k range, with 902 originations. The second most popular income band? $50k-75k, with 659 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 596 $159,990,000 $268,440 $5,632 3.14%
    30-36% 594 $161,340,000 $271,616 $5,877 3.23%
    <20% 244 $66,590,000 $272,910 $5,053 2.98%
    50-60% 158 $42,540,000 $269,241 $10,025 3.20%
    44% 158 $43,700,000 $276,582 $6,733 3.33%
    40% 153 $40,225,000 $262,908 $6,210 3.56%
    42% 146 $34,060,000 $233,288 $6,055 3.57%
    43% 145 $39,785,000 $274,379 $5,970 3.26%
    41% 124 $32,350,000 $260,887 $5,786 3.43%
    39% 114 $32,470,000 $284,825 $6,298 3.35%
    36% 111 $29,775,000 $268,243 $6,254 3.36%
    38% 108 $29,310,000 $271,389 $5,815 3.32%
    37% 99 $27,425,000 $277,020 $5,947 3.43%
    45% 90 $24,530,000 $272,556 $6,453 3.15%
    47% 79 $21,755,000 $275,380 $7,504 3.28%
    49% 75 $22,005,000 $293,400 $6,999 3.15%
    46% 71 $20,225,000 $284,859 $6,386 3.20%
    48% 50 $13,430,000 $268,600 $6,875 3.23%
    >60% 4 $1,390,000 $347,500 $14,349 3.90%

    Milend lent most frequently to those with DTI ratios of 20-30%, with 596 originations. The next most common DTI ratio? 30-36%, with 594 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,548 $690,010,000 $270,805 $6,116 3.25%
    Black 369 $96,395,000 $261,233 $6,548 3.34%
    Asian 119 $34,435,000 $289,370 $6,735 3.08%
    Not provided 75 $19,945,000 $265,933 $6,312 3.18%
    American Indian 5 $1,175,000 $235,000 $7,658 3.25%
    Asian Indian 2 $550,000 $275,000 $6,806 2.38%
    Other Asian 1 $365,000 $365,000 $4,160 2.50%
    Native Hawaiian or Islander 1 $345,000 $345,000 $6,498 2.75%

    Approval Rates

    Total approvals of all applications
    94.86%

    Milend has an average approval rate.

    Pick Rate

    Approvals leading to origination
    54.74%

    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 3,120 $843,220,000 $270,263

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 3,120 $843,220,000 $270,263

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $12,205,000 $137,135 $3,160 4.24%
    40-60% 444 $109,070,000 $245,653 $5,017 2.99%
    60-80% 1,459 $412,385,000 $282,649 $6,079 3.19%
    80-100% 1,039 $298,595,000 $287,387 $7,400 3.21%
    Over 100% 18 $6,600,000 $366,667 $8,364 3.22%
    Under 20% 71 $4,365,000 $61,479 $1,615 5.69%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MILEND, INC. Conventional home mortgage Closing on a mortgage 1 100.0%