Kelley Mortgage Rates, Fees & Info
COLUMBIA, TNLEI: 549300QWOZZB97053F11
Tax ID: 26-4507534
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Mortgage Data
Review & Overview
Kelley Mortgage is a smaller mortgage company specializing in Home Purchase loans. Kelley Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Nashville, Lawrenceburg, Lewisburg, and Shelbyville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Kelley Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Kelley Mortgage 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 | 6.67% | 4/28/24 |
| 30 Year Conventional Refi | 6.47% | 4/28/24 |
| 30 Year Cash-out Refi | 6.83% | 4/28/24 |
| 30 Year FHA Purchase | 7.35% | 4/28/24 |
| 30 Year VA Purchase | 6.04% | 4/28/24 |
| 30 Year VA Refi | 6.09% | 4/28/24 |
| 30 Year USDA Purchase | 6.59% | 4/28/24 |
| 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. | ||
Kelley Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
60Origination Dollar Volume (All Markets)
$14,620,000Awards
KELLEY MORTGAGE - 2022
KELLEY MORTGAGE is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 25 | $5,445,000 | $217,800 | $2,864 | 4.66% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 15 | $4,415,000 | $294,333 | $3,381 | 4.49% |
| Lawrenceburg, TN (FHA|USDA|VA) | 14 | $3,410,000 | $243,571 | $3,865 | 4.69% |
| Lewisburg, TN (FHA|USDA|VA) | 5 | $1,275,000 | $255,000 | $4,299 | 4.63% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,034 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against KELLEY MORTGAGE 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 2022, Kelley Mortgage's most frequently originated type of loan was Conventional, with 27 originations. Their 2nd most popular type was FHA, with 18 originations.
Loan Reason
For 2022, Kelley Mortgage's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 60 | $14,620,000 | $243,667 | $3,316 | 4.62% |
For 2022, Kelley Mortgage's most frequently cited loan duration was 30 Year, with 60 originations.
Origination Fees/Closing Costs
Kelley Mortgage's average total fees were $3,316, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 21 | $5,175,000 | $246,429 |
| 3-4% | 17 | $4,185,000 | $246,176 |
| 4-5% | 15 | $3,365,000 | $224,333 |
| 6-7% | 4 | $950,000 | $237,500 |
| 2.5-3% | 3 | $945,000 | $315,000 |
During 2022, Kelley Mortgage's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.
Loan Sizing
2022 saw Kelley Mortgage place emphasis on $200k-400k loans with 28 originations, totaling $7,710,000 in origination value.
Applicant Income
Kelley Mortgage lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $50k or less, with 17 originations.
Applicant Debt to Income Ratio
Kelley Mortgage lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.41%
Kelley Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.67%
Kelley Mortgage has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 60 | $14,620,000 | $243,667 |