Mclean Mortgage Corporation Rates, Fees & Info

FAIRFAX, VA

LEI: 549300T0I2M6IPLVEN24

Tax ID: 41-2259092

5 stars - out of 5 stars, based on 118 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mclean Mortgage Corporation is a mid-sized mortgage company specializing in Home Purchase and Refi loans. Mclean Mortgage Corporation has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Washington, Salisbury, Charlotte, Baltimore, and York among others. Mclean Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Mclean Mortgage Corporation is typically an average fee lendor.


Originations

14,015

Origination Dollar Volume (All Markets)

$5,449,595,000
Show all (30) awards

Relative Rate

Mclean Mortgage Corporation's average 30 year fixed rate mortgage of loans were 2.9%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.25%.

Relative Fees

Mclean Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $5,356.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7,890 $3,758,090,000 $476,311 $5,639 2.82%
SALISBURY, MD-DE (FHA|USDA|VA) 1,030 $271,990,000 $264,068 $4,161 3.01%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 789 $226,365,000 $286,901 $3,747 2.88%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 462 $174,340,000 $377,359 $5,141 2.89%
YORK-HANOVER, PA (FHA|USDA|VA) 667 $134,565,000 $201,747 $5,158 2.84%
RICHMOND, VA (FHA|USDA|VA) 463 $126,825,000 $273,920 $3,944 2.95%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 448 $121,970,000 $272,254 $4,686 2.97%
WINCHESTER, VA-WV (FHA|USDA|VA) 251 $76,795,000 $305,956 $5,657 2.94%
Outside of Metro Areas 262 $70,790,000 $270,191 $4,488 2.94%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 151 $38,945,000 $257,914 $3,732 3.19%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 87 $37,965,000 $436,379 $6,526 3.02%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 126 $35,060,000 $278,254 $4,409 3.01%
LYNCHBURG, VA (FHA|USDA|VA) 152 $31,340,000 $206,184 $3,371 2.96%
WINSTON-SALEM, NC (FHA|USDA|VA) 119 $28,775,000 $241,807 $3,283 2.80%
GETTYSBURG, PA (FHA|USDA|VA) 104 $24,230,000 $232,981 $5,511 2.85%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 94 $20,430,000 $217,340 $3,155 2.99%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 101 $18,725,000 $185,396 $4,547 2.79%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 56 $18,150,000 $324,107 $4,861 3.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 26 $13,060,000 $502,308 $5,092 2.85%
RALEIGH-CARY, NC (FHA|USDA|VA) 38 $10,850,000 $285,526 $3,749 2.86%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 30 $9,600,000 $320,000 $4,139 2.86%
Cambridge, MD (FHA|USDA|VA) 36 $9,390,000 $260,833 $4,591 3.02%
LANCASTER, PA (FHA|USDA|VA) 40 $9,270,000 $231,750 $5,112 2.89%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 26 $9,110,000 $350,385 $4,338 2.71%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 34 $8,760,000 $257,647 $4,305 2.71%
Kill Devil Hills, NC (FHA|USDA|VA) 19 $8,735,000 $459,737 $4,566 2.97%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 18 $8,440,000 $468,889 $4,647 2.85%
JACKSONVILLE, FL (FHA|USDA|VA) 32 $8,030,000 $250,938 $4,763 2.99%
DOVER, DE (FHA|USDA|VA) 28 $6,950,000 $248,214 $5,706 2.94%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 24 $6,890,000 $287,083 $3,175 3.05%
Easton, MD (FHA|USDA|VA) 14 $6,760,000 $482,857 $5,849 3.11%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 18 $6,450,000 $358,333 $5,078 2.86%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 15 $6,225,000 $415,000 $4,989 2.98%
BURLINGTON, NC (FHA|USDA|VA) 20 $5,710,000 $285,500 $3,234 3.25%
ROANOKE, VA (FHA|USDA|VA) 18 $5,390,000 $299,444 $4,600 2.94%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 13 $5,245,000 $403,462 $6,305 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 12 $5,020,000 $418,333 $4,316 3.04%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 22 $4,660,000 $211,818 $4,701 2.57%
WILMINGTON, NC (FHA|USDA|VA) 17 $4,605,000 $270,882 $3,128 2.96%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 9 $4,525,000 $502,778 $6,884 3.14%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 13 $4,405,000 $338,846 $3,843 2.86%
PITTSBURGH, PA (FHA|USDA|VA) 11 $3,075,000 $279,545 $4,868 2.98%
Key West, FL (FHA|USDA|VA) 7 $2,925,000 $417,857 $4,094 2.86%
PORT ST. LUCIE, FL (FHA|USDA|VA) 6 $2,850,000 $475,000 $3,988 2.81%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 5 $2,485,000 $497,000 $5,371 2.85%
Georgetown, SC (FHA|USDA|VA) 8 $2,480,000 $310,000 $4,634 3.05%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 8 $2,460,000 $307,500 $4,050 2.67%
Albemarle, NC (FHA|USDA|VA) 9 $2,425,000 $269,444 $4,923 3.03%
COLUMBIA, SC (FHA|USDA|VA) 11 $2,335,000 $212,273 $3,458 3.21%
ASHEVILLE, NC (FHA|USDA|VA) 6 $2,140,000 $356,667 $2,927 2.96%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $2,050,000 $341,667 $5,093 2.96%
LEBANON, PA (FHA|USDA|VA) 6 $1,860,000 $310,000 $4,313 3.29%
PANAMA CITY, FL (FHA|USDA|VA) 5 $1,755,000 $351,000 $4,502 2.92%
Morehead City, NC (FHA|USDA|VA) 5 $1,735,000 $347,000 $5,240 2.88%
FLORENCE, SC (FHA|USDA|VA) 5 $1,725,000 $345,000 $4,536 3.22%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 7 $1,545,000 $220,714 $3,835 2.91%
FAYETTEVILLE, NC (FHA|USDA|VA) 8 $1,530,000 $191,250 $3,625 2.70%
Seneca, SC (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $6,861 3.38%
ALTOONA, PA (FHA|USDA|VA) 9 $1,495,000 $166,111 $4,780 3.04%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $1,360,000 $340,000 $6,882 2.88%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 5 $1,275,000 $255,000 $3,997 2.35%
KNOXVILLE, TN (FHA|USDA|VA) 4 $1,270,000 $317,500 $4,486 2.97%
EAST STROUDSBURG, PA (FHA|USDA|VA) 5 $1,115,000 $223,000 $4,551 3.03%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,065,000 $355,000 $5,855 3.29%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $1,055,000 $351,667 $9,198 3.13%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $1,050,000 $262,500 $4,046 2.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $2,467 3.25%
Huntingdon, PA (FHA|USDA|VA) 7 $995,000 $142,143 $4,424 2.95%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $920,000 $230,000 $2,876 3.12%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $890,000 $445,000 $4,160 2.69%
Lewistown, PA (FHA|USDA|VA) 4 $880,000 $220,000 $6,137 2.84%
STATE COLLEGE, PA (FHA|USDA|VA) 4 $830,000 $207,500 $3,835 3.16%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $765,000 $255,000 $2,617 2.71%
Brevard, NC (FHA|USDA|VA) 1 $725,000 $725,000 $0 4.25%
STAUNTON, VA (FHA|USDA|VA) 3 $725,000 $241,667 $3,591 2.88%
NEW BERN, NC (FHA|USDA|VA) 2 $640,000 $320,000 $4,627 3.13%
HARRISONBURG, VA (FHA|USDA|VA) 3 $635,000 $211,667 $3,154 3.13%
CUMBERLAND, MD-WV (FHA|USDA|VA) 6 $540,000 $90,000 $1,172 1.83%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $525,000 $525,000 $4,552 2.38%
Cullowhee, NC (FHA|USDA|VA) 2 $500,000 $250,000 $3,431 3.06%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 3 $475,000 $158,333 $3,130 2.79%
North Wilkesboro, NC (FHA|USDA|VA) 1 $465,000 $465,000 $0 3.88%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $430,000 $215,000 $5,208 3.13%
CLEVELAND, TN (FHA|USDA|VA) 1 $425,000 $425,000 $2,796 2.63%
MONTGOMERY, AL (FHA|USDA|VA) 3 $425,000 $141,667 $5,685 3.04%
MORRISTOWN, TN (FHA|USDA|VA) 1 $405,000 $405,000 $3,505 2.75%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $385,000 $385,000 $4,341 3.38%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $350,000 $175,000 $2,584 2.75%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $325,000 $325,000 $5,440 3.25%
Boone, NC (FHA|USDA|VA) 1 $295,000 $295,000 $3,081 2.63%
Newport, TN (FHA|USDA|VA) 1 $295,000 $295,000 $2,437 3.38%
READING, PA (FHA|USDA|VA) 2 $270,000 $135,000 $4,507 2.81%
Mount Airy, NC (FHA|USDA|VA) 1 $255,000 $255,000 $2,771 3.13%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 2 $250,000 $125,000 $4,099 2.77%
Laurinburg, NC (FHA|USDA|VA) 1 $245,000 $245,000 $1,907 2.63%
Danville, VA (FHA|USDA|VA) 2 $240,000 $120,000 $4,289 3.19%
GREENVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $3,122 2.38%
Cullman, AL (FHA|USDA|VA) 1 $235,000 $235,000 $3,351 3.38%
OCALA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,043 3.13%
ROCKY MOUNT, NC (FHA|USDA|VA) 2 $230,000 $115,000 $2,781 2.88%
Pottsville, PA (FHA|USDA|VA) 1 $225,000 $225,000 $11,610 2.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $2,903 2.25%
Fort Payne, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,671 2.75%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,606 2.75%
Shelby, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,426 3.25%
Dayton, TN (FHA|USDA|VA) 1 $195,000 $195,000 $3,334 3.13%
Indiana, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,923 3.25%
Elizabeth City, NC (FHA|USDA|VA) 1 $175,000 $175,000 $6,516 3.00%
Palatka, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,155 3.38%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $125,000 $125,000 $3,045 3.88%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,356 3.13%
Somerset, PA (FHA|USDA|VA) 1 $115,000 $115,000 $4,137 3.75%
Sunbury, PA (FHA|USDA|VA) 1 $95,000 $95,000 $2,599 2.88%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $85,000 $85,000 $2,124 2.50%
Lewisburg, PA (FHA|USDA|VA) 1 $75,000 $75,000 $2,995 3.13%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $75,000 $75,000 $2,969 3.00%
ERIE, PA (FHA|USDA|VA) 1 $55,000 $55,000 $3,823 3.88%

Mclean Mortgage Corporation's top markets include Washington, Salisbury, Charlotte, Baltimore, and York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 11,433 $4,368,495,000 $382,095 $4,250 2.91%
VA 1,482 $772,860,000 $521,498 $9,220 2.55%
FHA 937 $272,325,000 $290,635 $8,993 2.91%
USDA 163 $35,915,000 $220,337 $6,017 2.83%

For the 2021 period, Mclean Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 11,433 originations. Their 2nd most popular type is VA, with 1,482 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 8,344 $3,338,640,000 $400,125 $6,115 2.91%
Refi 4,141 $1,568,895,000 $378,869 $3,458 2.75%
Cash Out Refi 1,530 $542,060,000 $354,288 $4,103 2.97%

For the 2021, Mclean Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 8,344 originations. The 2nd most popular reason of loans were Refi, with 4,141 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 12,360 $4,918,100,000 $397,905 $5,356 2.90%
15 Year 912 $268,820,000 $294,759 $3,211 2.37%
20 Year 333 $107,315,000 $322,267 $3,195 2.68%
1 Year 174 $97,820,000 $562,184 $0 4.26%
Other 127 $38,165,000 $300,512 $3,173 2.84%
10 Year 100 $13,940,000 $139,400 $1,601 1.44%
30+ year 9 $5,435,000 $603,889 $0 3.75%

For the 2021, Mclean Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 12,360 originations. The 2nd most popular length of loans were 15 Year, with 912 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 8,399 $3,008,995,000 $358,256
$<1k 2,831 $1,039,055,000 $367,028
$2k-3k 1,570 $693,540,000 $441,745
$3k-4k 717 $371,675,000 $518,375
$5k+ 491 $334,735,000 $681,741

$5,356 of loans were Mclean Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 8,399 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 7,444 $3,018,420,000 $405,484
3-4% 3,471 $1,206,845,000 $347,694
<2.5% 2,819 $1,099,465,000 $390,020
4-5% 265 $121,255,000 $457,566
5-6% 16 $3,610,000 $225,625

During 2021, Mclean Mortgage Corporation's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 7,444 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 5,802 $1,707,040,000 $294,216 $4,380 2.88%
$400k-600k 3,585 $1,760,905,000 $491,187 $5,662 2.82%
$100k-200k 2,151 $340,765,000 $158,422 $3,592 2.98%
$600k-1MM 1,844 $1,343,300,000 $728,471 $8,265 2.89%
$100,000 or less 415 $21,035,000 $50,687 $1,912 2.52%
$1MM+ 218 $276,550,000 $1,268,578 $11,219 2.94%

2021 saw Mclean Mortgage Corporation place emphasis on $200k-400k loans with 5,802 originations, totaling $1,707,040,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 3,549 $1,419,795,000 $400,055 $5,332 2.89%
$150k-250k 3,149 $1,550,135,000 $492,263 $5,696 2.90%
$75k-100k 2,235 $708,015,000 $316,785 $4,856 2.87%
$50k-75k 2,210 $540,930,000 $244,765 $4,588 2.86%
$250k+ 1,471 $900,435,000 $612,124 $5,818 2.94%
$50k or less 1,171 $221,725,000 $189,347 $3,867 2.77%

Mclean Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 3,549 originations. The second most popular income band? $150k-250k, with 3,149 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,347 $1,314,415,000 $392,714 $4,579 2.86%
30-36% 2,653 $1,017,985,000 $383,711 $5,022 2.87%
<20% 1,263 $481,815,000 $381,485 $3,992 2.88%
42% 531 $200,975,000 $378,484 $5,269 2.91%
40% 530 $208,030,000 $392,509 $5,290 2.90%
44% 504 $186,270,000 $369,583 $5,332 2.97%
41% 500 $193,830,000 $387,660 $5,266 2.92%
39% 492 $194,400,000 $395,122 $5,413 2.93%
38% 484 $188,780,000 $390,041 $5,495 2.90%
36% 478 $186,080,000 $389,289 $5,311 2.93%
43% 477 $179,975,000 $377,306 $5,476 2.90%
37% 469 $178,245,000 $380,053 $4,999 2.92%
50-60% 455 $189,655,000 $416,824 $9,608 2.73%
49% 322 $124,200,000 $385,714 $5,633 2.90%
45% 309 $117,945,000 $381,699 $5,540 2.93%
48% 292 $105,380,000 $360,890 $5,370 2.88%
47% 282 $103,980,000 $368,723 $5,536 2.88%
46% 261 $101,675,000 $389,559 $6,004 2.91%
>60% 35 $19,615,000 $560,429 $11,436 2.83%

Mclean Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 3,347 originations. The next most common DTI ratio? 30-36%, with 2,653 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 8,959 $3,437,485,000 $383,691 $5,015 2.87%
Not provided 2,711 $1,051,795,000 $387,973 $5,120 2.88%
Asian 1,053 $462,955,000 $439,653 $5,002 2.81%
Black 1,000 $373,390,000 $373,390 $6,016 2.89%
Asian Indian 97 $44,065,000 $454,278 $4,905 2.83%
American Indian 90 $32,600,000 $362,222 $5,603 2.84%
Other Asian 56 $25,110,000 $448,393 $5,745 2.83%
Korean 11 $6,685,000 $607,727 $5,900 2.73%
Native Hawaiian 15 $6,375,000 $425,000 $6,064 2.72%
Filipino 8 $3,180,000 $397,500 $8,475 2.78%
Vietnamese 5 $2,345,000 $469,000 $4,446 2.75%
Chinese 5 $1,605,000 $321,000 $4,039 2.85%
Japanese 3 $1,135,000 $378,333 $3,897 2.83%
Other Pacific Islander 2 $870,000 $435,000 $4,362 3.13%

Approval Rates

Total approvals of all applications
99.09%

Mclean Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
91.10%

Mclean Mortgage Corporation has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 14,015 $5,449,595,000 $388,840

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
14,015 $5,449,595,000 $388,840

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 467 $111,875,000 $239,561 $3,144 2.78%
40-60% 1,818 $620,410,000 $341,260 $3,343 2.74%
60-80% 4,608 $1,863,450,000 $404,395 $4,173 2.93%
80-100% 6,452 $2,611,100,000 $404,696 $5,749 2.92%
Over 100% 446 $233,200,000 $522,870 $17,104 2.61%
Under 20% 219 $7,205,000 $32,900 $547 1.99%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MCLEAN MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
MCLEAN MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%