On Q Financial Mortgage Rates, Fees & Info

TEMPE, AZ

LEI: 549300SVKVT1EF3U0N48

Tax ID: 51-0517525

4.1 stars - Updated: 5/27/24 - out of 5 stars, based on 43 reviews

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

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Mortgage Data

Review & Overview

On Q Financial is a smaller mortgage company specializing in Home Purchase loans. On Q Financial 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: Phoenix, Seattle, Greenville, Denver, and Redding among others. We have data for 194 markets. (Some data included below & more in-depth data is available with an active subscription.)

On Q Financial 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. On Q Financial 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 6.77% 5/27/24
30 Year Conventional Refi 6.66% 5/27/24
30 Year Cash-out Refi 6.93% 5/27/24
30 Year FHA Purchase 7.96% 5/27/24
30 Year FHA Refi 7.31% 5/27/24
30 Year VA Purchase 6.77% 5/27/24
30 Year VA Refi 5.86% 5/27/24
30 Year USDA Purchase 7.26% 5/27/24
30 Year USDA Refi 6.27% 5/27/24
15 Year Conventional Purchase 6.11% 5/27/24
15 Year Conventional Refi 6.11% 5/27/24
15 Year Cash-out Refi 6.11% 5/27/24
15 Year FHA Refi 7.26% 5/27/24
15 Year VA Purchase 5.68% 5/27/24
15 Year VA Refi 5.68% 5/27/24
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.

On Q Financial Mortgage Calculator






Your Estimates

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

This is not an official calculator from On Q Financial. 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

1,874

Origination Dollar Volume (All Markets)

$651,970,000

Awards

ON Q FINANCIAL 30 Year Conventional Loans bronze ON Q FINANCIAL FHA Loans bronze ON Q FINANCIAL FHA Loans gold ON Q FINANCIAL 30 Year Conventional Loans gold
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Relative Rate

On Q Financial's average 30 year fixed mortgage rate was 6.83%.

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

This yields a difference of 0.35%.

Relative Fees (Closing Costs)

On Q Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $8,934.

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
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 323 $135,685,000 $420,077 $9,794 6.56%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 132 $85,010,000 $644,015 $10,795 6.89%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 245 $61,815,000 $252,306 $6,849 6.68%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 54 $30,910,000 $572,407 $7,633 6.59%
REDDING, CA (FHA|USDA|VA) 90 $30,280,000 $336,444 $9,635 6.99%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 82 $20,880,000 $254,634 $8,961 6.87%
Outside of Metro Areas 55 $15,465,000 $281,182 $8,550 7.04%
Seneca, SC (FHA|USDA|VA) 69 $14,905,000 $216,014 $5,822 6.84%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 48 $14,640,000 $305,000 $9,923 7.26%
Shelby, NC (FHA|USDA|VA) 57 $12,575,000 $220,614 $8,436 6.92%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 29 $11,705,000 $403,621 $11,208 6.92%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 23 $11,155,000 $485,000 $8,460 6.68%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 13 $9,575,000 $736,538 $11,977 7.15%
SPARTANBURG, SC (FHA|USDA|VA) 40 $9,060,000 $226,500 $6,385 6.75%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 17 $8,725,000 $513,235 $17,098 7.45%
CASPER, WY (FHA|USDA|VA) 24 $7,690,000 $320,417 $11,199 6.47%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 16 $6,970,000 $435,625 $13,556 7.59%
SALT LAKE CITY, UT (FHA|USDA|VA) 18 $6,740,000 $374,444 $9,078 7.18%
ST. LOUIS, MO-IL (FHA|USDA|VA) 26 $6,500,000 $250,000 $5,825 6.95%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 21 $6,115,000 $291,190 $11,756 6.90%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 15 $5,845,000 $389,667 $11,066 7.04%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $4,020,000 $670,000 $14,747 7.60%
FORT SMITH, AR-OK (FHA|USDA|VA) 17 $3,615,000 $212,647 $8,603 7.33%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 11 $3,295,000 $299,545 $12,005 6.91%
RENO, NV (FHA|USDA|VA) 10 $3,270,000 $327,000 $10,595 7.34%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $3,050,000 $508,333 $16,133 8.00%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 11 $2,975,000 $270,455 $8,836 7.30%
FLAGSTAFF, AZ (FHA|USDA|VA) 8 $2,680,000 $335,000 $12,236 7.61%
Red Bluff, CA (FHA|USDA|VA) 9 $2,675,000 $297,222 $11,461 6.68%
ST. GEORGE, UT (FHA|USDA|VA) 9 $2,605,000 $289,444 $10,798 7.69%
Ellensburg, WA (FHA|USDA|VA) 3 $2,535,000 $845,000 $12,066 6.21%
MODESTO, CA (FHA|USDA|VA) 6 $2,500,000 $416,667 $19,959 7.08%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 6 $2,290,000 $381,667 $5,138 6.73%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 6 $2,230,000 $371,667 $6,048 7.58%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $1,925,000 $385,000 $11,212 7.38%
COLORADO SPRINGS, CO (FHA|USDA|VA) 5 $1,915,000 $383,000 $11,865 6.82%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $1,805,000 $361,000 $12,696 7.07%
COLUMBIA, MO (FHA|USDA|VA) 6 $1,800,000 $300,000 $7,518 6.58%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $1,785,000 $255,000 $9,311 6.77%
LOUISVILLE, KY (FHA|USDA|VA) 8 $1,770,000 $221,250 $6,112 7.32%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,740,000 $435,000 $14,769 7.00%
SPRINGFIELD, MO (FHA|USDA|VA) 6 $1,740,000 $290,000 $7,963 7.06%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,655,000 $331,000 $13,170 7.43%
Greenwood, SC (FHA|USDA|VA) 8 $1,600,000 $200,000 $8,550 6.81%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 7 $1,595,000 $227,857 $7,162 7.27%
SALEM, OR (FHA|USDA|VA) 4 $1,500,000 $375,000 $12,489 6.62%
TUCSON, AZ (FHA|USDA|VA) 5 $1,475,000 $295,000 $7,088 7.52%
COLUMBUS, OH (FHA|USDA|VA) 4 $1,450,000 $362,500 $7,889 6.38%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 3 $1,415,000 $471,667 $7,426 6.58%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,400,000 $700,000 $12,102 7.13%
LONGVIEW, WA (FHA|USDA|VA) 3 $1,355,000 $451,667 $13,428 7.08%
ANCHORAGE, AK (FHA|USDA|VA) 5 $1,305,000 $261,000 $10,266 7.60%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $1,300,000 $650,000 $7,357 7.12%
New Philadelphia-Dover, OH (FHA|USDA|VA) 15 $1,295,000 $86,333 $4,256 8.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,275,000 $425,000 $9,286 6.87%
Elko, NV (FHA|USDA|VA) 5 $1,265,000 $253,000 $8,784 6.68%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,255,000 $418,333 $6,802 7.41%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,210,000 $302,500 $8,407 7.03%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 3 $1,155,000 $385,000 $15,887 7.29%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $1,130,000 $282,500 $7,561 7.34%
RICHMOND, VA (FHA|USDA|VA) 3 $1,125,000 $375,000 $8,157 6.83%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $1,125,000 $225,000 $5,460 6.97%
STOCKTON, CA (FHA|USDA|VA) 3 $1,125,000 $375,000 $13,695 7.33%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $1,095,000 $1,095,000 $12,469 8.99%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,095,000 $365,000 $11,356 7.29%
BEND, OR (FHA|USDA|VA) 1 $1,075,000 $1,075,000 $7,519 6.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,055,000 $211,000 $7,378 6.72%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 4 $990,000 $247,500 $8,229 7.34%
Show Low, AZ (FHA|USDA|VA) 4 $990,000 $247,500 $8,127 8.03%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 3 $985,000 $328,333 $12,128 8.04%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $970,000 $242,500 $5,204 7.09%
Forest City, NC (FHA|USDA|VA) 4 $950,000 $237,500 $8,214 6.75%
GREELEY, CO (FHA|USDA|VA) 2 $940,000 $470,000 $13,940 5.24%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 4 $940,000 $235,000 $9,254 7.41%
Cullman, AL (FHA|USDA|VA) 3 $925,000 $308,333 $8,851 6.21%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 8 $920,000 $115,000 $4,956 7.08%
HUNTSVILLE, AL (FHA|USDA|VA) 3 $915,000 $305,000 $5,312 6.79%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $910,000 $455,000 $9,895 6.75%
BOULDER, CO (FHA|USDA|VA) 1 $905,000 $905,000 $3,502 6.25%
Warsaw, IN (FHA|USDA|VA) 6 $900,000 $150,000 $5,536 7.65%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 3 $895,000 $298,333 $6,996 6.96%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $875,000 $291,667 $8,549 5.91%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $865,000 $288,333 $11,161 6.58%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 2 $850,000 $425,000 $4,683 6.81%
JEFFERSON CITY, MO (FHA|USDA|VA) 4 $840,000 $210,000 $4,758 7.09%
MADISON, WI (FHA|USDA|VA) 2 $810,000 $405,000 $7,217 6.94%
Oak Harbor, WA (FHA|USDA|VA) 1 $765,000 $765,000 $21,377 7.50%
Pullman, WA (FHA|USDA|VA) 1 $735,000 $735,000 $3,536 5.88%
Newport, OR (FHA|USDA|VA) 2 $730,000 $365,000 $10,102 7.75%
Ukiah, CA (FHA|USDA|VA) 2 $730,000 $365,000 $15,212 6.56%
Gaffney, SC (FHA|USDA|VA) 5 $715,000 $143,000 $6,862 6.68%
Centralia, WA (FHA|USDA|VA) 2 $700,000 $350,000 $10,833 6.87%
COLUMBIA, SC (FHA|USDA|VA) 3 $695,000 $231,667 $7,586 7.13%
CANTON-MASSILLON, OH (FHA|USDA|VA) 4 $690,000 $172,500 $5,963 7.19%
PANAMA CITY, FL (FHA|USDA|VA) 2 $690,000 $345,000 $12,925 8.06%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 6 $680,000 $113,333 $5,624 8.21%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $670,000 $335,000 $11,256 6.87%
Fort Leonard Wood, MO (FHA|USDA|VA) 2 $650,000 $325,000 $5,940 5.88%
COLUMBUS, IN (FHA|USDA|VA) 3 $635,000 $211,667 $6,759 7.33%
Kalispell, MT (FHA|USDA|VA) 1 $635,000 $635,000 $4,572 8.25%
KNOXVILLE, TN (FHA|USDA|VA) 2 $600,000 $300,000 $4,128 7.56%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $585,000 $585,000 $7,307 6.88%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $565,000 $565,000 $12,622 6.63%
Los Alamos, NM (FHA|USDA|VA) 1 $555,000 $555,000 $14,961 5.99%
Shelton, WA (FHA|USDA|VA) 2 $550,000 $275,000 $8,385 7.13%
TULSA, OK (FHA|USDA|VA) 2 $540,000 $270,000 $11,372 7.44%
CHEYENNE, WY (FHA|USDA|VA) 1 $535,000 $535,000 $15,323 7.50%
ALBANY-LEBANON, OR (FHA|USDA|VA) 2 $500,000 $250,000 $10,951 7.38%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $495,000 $495,000 $7,902 6.50%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $490,000 $245,000 $9,747 6.75%
NILES, MI (FHA|USDA|VA) 1 $485,000 $485,000 $8,579 6.75%
PITTSBURGH, PA (FHA|USDA|VA) 3 $485,000 $161,667 $11,595 7.79%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $485,000 $485,000 $9,698 6.99%
Bellefontaine, OH (FHA|USDA|VA) 3 $475,000 $158,333 $5,523 7.46%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $445,000 $445,000 $11,904 7.25%
NEW BERN, NC (FHA|USDA|VA) 1 $445,000 $445,000 $3,337 6.75%
Steamboat Springs, CO (FHA|USDA|VA) 1 $435,000 $435,000 $8,706 7.63%
Fernley, NV (FHA|USDA|VA) 1 $435,000 $435,000 $14,765 5.63%
FRESNO, CA (FHA|USDA|VA) 1 $435,000 $435,000 $6,226 7.38%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $430,000 $215,000 $6,076 6.69%
PROVO-OREM, UT (FHA|USDA|VA) 1 $425,000 $425,000 $12,343 7.75%
Effingham, IL (FHA|USDA|VA) 3 $415,000 $138,333 $5,931 6.71%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $405,000 $405,000 $17,664 7.99%
Alice, TX (FHA|USDA|VA) 1 $405,000 $405,000 $5,229 6.75%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $385,000 $385,000 $13,588 7.13%
Shelbyville, TN (FHA|USDA|VA) 1 $385,000 $385,000 $18,849 7.25%
Clearlake, CA (FHA|USDA|VA) 1 $385,000 $385,000 $8,656 7.63%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $370,000 $185,000 $5,973 6.50%
FLORENCE, SC (FHA|USDA|VA) 1 $355,000 $355,000 $6,230 6.50%
Payson, AZ (FHA|USDA|VA) 3 $355,000 $118,333 $11,522 8.25%
ASHEVILLE, NC (FHA|USDA|VA) 1 $345,000 $345,000 $7,322 6.25%
Charleston-Mattoon, IL (FHA|USDA|VA) 3 $345,000 $115,000 $6,569 6.79%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $11,211 6.75%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $335,000 $335,000 $12,959 7.13%
NAPA, CA (FHA|USDA|VA) 1 $335,000 $335,000 $11,148 8.75%
Warrensburg, MO (FHA|USDA|VA) 1 $335,000 $335,000 $3,338 7.63%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $335,000 $335,000 $15,967 6.75%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $335,000 $335,000 $8,321 5.63%
WILMINGTON, NC (FHA|USDA|VA) 1 $325,000 $325,000 $4,931 7.25%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $305,000 $305,000 $14,354 6.75%
GRANTS PASS, OR (FHA|USDA|VA) 1 $305,000 $305,000 $6,305 6.88%
Moscow, ID (FHA|USDA|VA) 1 $305,000 $305,000 $9,727 6.13%
Fallon, NV (FHA|USDA|VA) 1 $305,000 $305,000 $8,752 7.50%
YUMA, AZ (FHA|USDA|VA) 2 $300,000 $150,000 $7,310 7.12%
Aberdeen, WA (FHA|USDA|VA) 1 $295,000 $295,000 $11,321 6.75%
WALLA WALLA, WA (FHA|USDA|VA) 1 $285,000 $285,000 $0 6.99%
Sandpoint, ID (FHA|USDA|VA) 1 $285,000 $285,000 $11,635 7.63%
Union, SC (FHA|USDA|VA) 2 $280,000 $140,000 $7,236 6.25%
FAIRBANKS, AK (FHA|USDA|VA) 1 $275,000 $275,000 $9,821 6.00%
Newberry, SC (FHA|USDA|VA) 1 $265,000 $265,000 $5,248 7.99%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $9,306 6.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $15,232 6.99%
WENATCHEE, WA (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.99%
LOGAN, UT-ID (FHA|USDA|VA) 1 $245,000 $245,000 $12,334 7.25%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $15,383 7.25%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $245,000 $245,000 $10,401 7.38%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $235,000 $235,000 $7,943 6.13%
Centralia, IL (FHA|USDA|VA) 2 $230,000 $115,000 $4,393 7.13%
Ketchikan, AK (FHA|USDA|VA) 1 $225,000 $225,000 $9,504 7.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,848 6.88%
Roseburg, OR (FHA|USDA|VA) 1 $215,000 $215,000 $11,057 6.75%
MOBILE, AL (FHA|USDA|VA) 1 $215,000 $215,000 $7,384 7.75%
DECATUR, AL (FHA|USDA|VA) 1 $215,000 $215,000 $9,730 6.75%
FLINT, MI (FHA|USDA|VA) 1 $205,000 $205,000 $7,741 7.99%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $6,611 7.50%
LAFAYETTE, LA (FHA|USDA|VA) 1 $205,000 $205,000 $11,906 7.00%
Zanesville, OH (FHA|USDA|VA) 3 $205,000 $68,333 $3,913 7.75%
OCALA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,604 7.63%
KANKAKEE, IL (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.38%
DULUTH, MN-WI (FHA|USDA|VA) 1 $195,000 $195,000 $5,140 7.63%
Crawfordsville, IN (FHA|USDA|VA) 1 $195,000 $195,000 $10,513 7.25%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $195,000 $195,000 $5,401 7.49%
Wahpeton, ND-MN (FHA|USDA|VA) 1 $195,000 $195,000 $1,556 6.99%
Moses Lake, WA (FHA|USDA|VA) 1 $195,000 $195,000 $6,902 7.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,863 7.25%
Kinston, NC (FHA|USDA|VA) 1 $175,000 $175,000 $7,757 7.49%
Big Rapids, MI (FHA|USDA|VA) 1 $175,000 $175,000 $10,476 6.99%
Mexico, MO (FHA|USDA|VA) 1 $175,000 $175,000 $5,953 6.88%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $165,000 $165,000 $9,518 7.25%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $165,000 $165,000 $6,452 7.49%
Fort Morgan, CO (FHA|USDA|VA) 1 $165,000 $165,000 $3,327 5.25%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $155,000 $155,000 $0 6.50%
AKRON, OH (FHA|USDA|VA) 1 $155,000 $155,000 $0 6.50%
Coos Bay, OR (FHA|USDA|VA) 1 $145,000 $145,000 $3,497 7.88%
Hope, AR (FHA|USDA|VA) 1 $135,000 $135,000 $8,130 6.63%
BECKLEY, WV (FHA|USDA|VA) 1 $125,000 $125,000 $8,825 7.75%
BELLINGHAM, WA (FHA|USDA|VA) 1 $125,000 $125,000 $5,141 7.99%
Bonham, TX (FHA|USDA|VA) 1 $125,000 $125,000 $6,698 6.88%
ANN ARBOR, MI (FHA|USDA|VA) 1 $115,000 $115,000 $3,947 7.49%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $105,000 $105,000 $6,096 6.25%
Greensburg, IN (FHA|USDA|VA) 1 $105,000 $105,000 $5,784 7.99%
JACKSON, MI (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.63%
Wilson, NC (FHA|USDA|VA) 1 $75,000 $75,000 $5,423 6.50%
Susanville, CA (FHA|USDA|VA) 1 $55,000 $55,000 $2,702 8.13%
On Q Financial's top markets include Phoenix, Seattle, Greenville, Denver, and Redding among others.

Their top states include:
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,187 $440,305,000 $370,939 $7,575 6.96%
    FHA 503 $143,855,000 $285,994 $12,215 6.82%
    VA 160 $63,510,000 $396,938 $8,823 6.63%
    USDA 24 $4,300,000 $179,167 $7,240 6.64%

    For 2023, On Q Financial's most frequently originated type of loan was Conventional, with 1,187 originations. Their 2nd most popular type was FHA, with 503 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,737 $609,265,000 $350,757 $8,908 6.87%
    Cash Out Refi 84 $25,700,000 $305,952 $10,236 7.16%
    Refi 52 $17,000,000 $326,923 $8,905 7.03%
    Other 1 $5,000 $5,000 $0 10.13%

    For 2023, On Q Financial's most frequently cited loan purpose was Home Purchase, with 1,737 originations. The 2nd most popular reason was Cash Out Refi, with 84 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,774 $630,160,000 $355,220 $8,934 6.83%
    30+ year 48 $15,560,000 $324,167 $15,694 8.33%
    10 Year 21 $375,000 $17,857 $737 8.93%
    15 Year 19 $3,855,000 $202,895 $5,063 6.24%
    20 Year 11 $1,735,000 $157,727 $4,495 7.03%
    Other 1 $285,000 $285,000 $9,353 7.75%

    For 2023, On Q Financial's most frequently cited loan duration was 30 Year, with 1,774 originations. The 2nd most popular length was 30+ year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 535 $241,255,000 $450,944
    $1k-2k 413 $155,535,000 $376,598
    $3k-4k 265 $67,985,000 $256,547
    $2k-3k 245 $60,305,000 $246,143
    $4k-5k 199 $61,395,000 $308,518
    $<1k 131 $39,145,000 $298,817

    On Q Financial's average total fees were $8,934, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 535 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 980 $348,670,000 $355,786
    7-8% 595 $196,005,000 $329,420
    5-6% 187 $71,515,000 $382,433
    Over 8% 92 $27,420,000 $298,043
    4-5% 18 $7,910,000 $439,444
    3-4% 2 $450,000 $225,000

    During 2023, On Q Financial's average interest rate for loans was 6.83%, while their most frequently originated rate bucket for loans was 6-7%, with 980 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 858 $249,390,000 $290,664 $8,655 6.88%
    $400k-600k 394 $189,160,000 $480,102 $10,993 6.75%
    $100k-200k 349 $54,795,000 $157,006 $6,669 6.93%
    $600k-1MM 168 $118,240,000 $703,810 $10,826 6.85%
    $100,000 or less 79 $4,345,000 $55,000 $3,664 7.62%
    $1MM+ 26 $36,040,000 $1,386,154 $17,795 6.94%

    2023 saw On Q Financial place emphasis on $200k-400k loans with 858 originations, totaling $249,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 510 $187,650,000 $367,941 $9,845 6.90%
    $50k-75k 373 $80,335,000 $215,375 $7,733 6.84%
    $150k-250k 331 $159,805,000 $482,795 $9,699 6.92%
    $75k-100k 314 $87,530,000 $278,758 $8,675 6.78%
    $50k or less 177 $25,975,000 $146,751 $6,251 6.89%
    $250k+ 169 $110,675,000 $654,882 $11,172 7.09%

    On Q Financial lent most frequently to those with incomes in the $100k-150k range, with 510 originations. The second most popular income band? $50k-75k, with 373 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 279 $100,905,000 $361,667 $7,634 6.94%
    20-30% 212 $66,010,000 $311,368 $7,357 6.89%
    50-60% 203 $67,295,000 $331,502 $11,833 6.79%
    49% 130 $49,210,000 $378,538 $9,958 7.00%
    44% 113 $35,795,000 $316,770 $8,955 6.93%
    47% 91 $34,155,000 $375,330 $9,489 6.94%
    42% 86 $32,300,000 $375,581 $9,347 6.90%
    43% 83 $29,715,000 $358,012 $8,432 6.80%
    40% 80 $25,650,000 $320,625 $8,317 6.89%
    39% 79 $29,635,000 $375,127 $8,778 6.79%
    48% 79 $28,435,000 $359,937 $9,605 6.92%
    38% 78 $26,890,000 $344,744 $9,202 6.87%
    41% 76 $24,200,000 $318,421 $8,991 6.87%
    45% 65 $23,595,000 $363,000 $9,803 6.95%
    <20% 57 $19,495,000 $342,018 $7,714 6.88%
    46% 55 $19,325,000 $351,364 $8,955 7.04%
    37% 52 $19,910,000 $382,885 $7,705 6.70%
    36% 50 $16,360,000 $327,200 $9,188 6.74%
    >60% 5 $2,415,000 $483,000 $10,523 6.95%

    On Q Financial lent most frequently to those with DTI ratios of 30-36%, with 279 originations. The next most common DTI ratio? 20-30%, with 212 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,337 $450,025,000 $336,593 $8,746 6.91%
    Not provided 375 $143,385,000 $382,360 $9,260 6.82%
    Black 90 $29,270,000 $325,222 $9,714 6.92%
    Asian 45 $19,185,000 $426,333 $11,208 6.91%
    American Indian 16 $4,720,000 $295,000 $9,717 6.98%
    Asian Indian 5 $2,795,000 $559,000 $7,879 6.35%
    Filipino 3 $1,615,000 $538,333 $11,368 6.25%
    Native Hawaiian or Islander 2 $800,000 $400,000 $13,618 8.44%
    Other Pacific Islander 1 $175,000 $175,000 $5,953 6.88%

    Approval Rates

    Total approvals of all applications
    93.34%

    On Q Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.89%

    On Q Financial 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 1,874 $651,970,000 $347,903

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,874 $651,970,000 $347,903

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $13,450,000 $249,074 $6,348 6.74%
    40-60% 168 $54,220,000 $322,738 $6,852 6.88%
    60-80% 439 $175,385,000 $399,510 $8,874 7.01%
    80-100% 1,137 $389,535,000 $342,599 $9,320 6.82%
    Over 100% 42 $18,360,000 $437,143 $15,313 6.54%
    Under 20% 34 $1,020,000 $30,000 $1,942 8.34%