Mclean Mortgage Corporation Rates, Fees & Info
FAIRFAX, VALEI: 549300T0I2M6IPLVEN24
Tax ID: 41-2259092
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mclean Mortgage Corporation is a mid-sized mortgage company specializing in Refi and Home Purchase 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 by origination volume include: Washington, Charlotte, Salisbury, Baltimore, and Virginia Beach among others. We have data for 107 markets. (Some data included below & more in-depth data is available with an active subscription.)Mclean Mortgage Corporation 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. Mclean Mortgage Corporation 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 | 6.59% | 11/17/24 |
| 30 Year Conventional Refi | 6.45% | 11/17/24 |
| 30 Year Cash-out Refi | 6.66% | 11/17/24 |
| 30 Year FHA Purchase | 7.44% | 11/17/24 |
| 30 Year FHA Refi | 7.16% | 11/17/24 |
| 30 Year VA Purchase | 6.08% | 11/17/24 |
| 30 Year VA Refi | 6.12% | 11/17/24 |
| 30 Year USDA Purchase | 6.91% | 11/17/24 |
| 15 Year Conventional Purchase | 5.98% | 11/17/24 |
| 15 Year Conventional Refi | 6.01% | 11/17/24 |
| 15 Year Cash-out Refi | 6.01% | 11/17/24 |
| 15 Year FHA Purchase | 7.68% | 11/17/24 |
| 15 Year VA Purchase | 5.85% | 11/17/24 |
| 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. | ||
Mclean Mortgage Corporation Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mclean Mortgage Corporation. 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
15,103Origination Dollar Volume (All Markets)
$5,609,995,000Awards
MCLEAN MORTGAGE CORPORATION - 2020
MCLEAN MORTGAGE CORPORATION is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for MCLEAN MORTGAGE CORPORATION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9,330 | $4,105,940,000 | $440,079 | $5,213 | 2.94% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 910 | $245,970,000 | $270,297 | $3,579 | 3.01% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 983 | $243,035,000 | $247,238 | $3,821 | 3.05% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 453 | $155,185,000 | $342,572 | $4,368 | 2.98% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 443 | $130,395,000 | $294,345 | $4,618 | 2.98% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 612 | $114,580,000 | $187,222 | $5,146 | 2.97% |
| RICHMOND, VA (FHA|USDA|VA) | 415 | $107,295,000 | $258,542 | $4,178 | 3.07% |
| Outside of Metro Areas | 197 | $56,595,000 | $287,284 | $4,088 | 2.94% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 156 | $43,460,000 | $278,590 | $4,908 | 3.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 203 | $39,705,000 | $195,591 | $3,460 | 3.12% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 162 | $32,700,000 | $201,852 | $3,235 | 2.94% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 136 | $31,750,000 | $233,456 | $3,127 | 2.81% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 114 | $31,150,000 | $273,246 | $4,526 | 2.94% |
| GETTYSBURG, PA (FHA|USDA|VA) | 124 | $25,060,000 | $202,097 | $5,463 | 3.08% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 60 | $17,090,000 | $284,833 | $2,972 | 2.80% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 51 | $16,955,000 | $332,451 | $4,675 | 3.20% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 48 | $16,320,000 | $340,000 | $4,548 | 3.04% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 39 | $11,905,000 | $305,256 | $3,247 | 2.89% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 39 | $11,125,000 | $285,256 | $3,312 | 2.99% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 27 | $8,565,000 | $317,222 | $3,453 | 3.03% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 27 | $8,045,000 | $297,963 | $3,781 | 2.87% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 21 | $7,555,000 | $359,762 | $3,594 | 2.90% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 25 | $7,515,000 | $300,600 | $4,464 | 2.92% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 28 | $7,350,000 | $262,500 | $4,613 | 2.93% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 42 | $7,300,000 | $173,810 | $5,003 | 2.81% |
| Easton, MD (FHA|USDA|VA) | 16 | $6,840,000 | $427,500 | $5,652 | 2.96% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 17 | $6,375,000 | $375,000 | $3,603 | 3.06% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 19 | $5,825,000 | $306,579 | $3,699 | 2.91% |
| LANCASTER, PA (FHA|USDA|VA) | 26 | $5,720,000 | $220,000 | $5,158 | 2.92% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 14 | $5,240,000 | $374,286 | $4,595 | 3.22% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 14 | $5,120,000 | $365,714 | $4,663 | 2.71% |
| DOVER, DE (FHA|USDA|VA) | 22 | $4,840,000 | $220,000 | $5,228 | 3.30% |
| ROANOKE, VA (FHA|USDA|VA) | 19 | $4,755,000 | $250,263 | $3,455 | 2.89% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 14 | $4,720,000 | $337,143 | $4,132 | 3.12% |
| Cambridge, MD (FHA|USDA|VA) | 17 | $4,135,000 | $243,235 | $4,384 | 2.96% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 12 | $4,050,000 | $337,500 | $5,463 | 2.98% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 12 | $3,990,000 | $332,500 | $3,272 | 2.69% |
| WILMINGTON, NC (FHA|USDA|VA) | 14 | $3,650,000 | $260,714 | $4,033 | 3.30% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 14 | $3,350,000 | $239,286 | $5,213 | 2.77% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $3,035,000 | $433,571 | $4,845 | 3.05% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 15 | $2,965,000 | $197,667 | $5,603 | 3.26% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 9 | $2,645,000 | $293,889 | $4,043 | 2.85% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 12 | $2,630,000 | $219,167 | $3,662 | 2.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 9 | $2,565,000 | $285,000 | $4,706 | 3.18% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 8 | $2,530,000 | $316,250 | $3,849 | 2.98% |
| KNOXVILLE, TN (FHA|USDA|VA) | 7 | $2,515,000 | $359,286 | $3,895 | 2.80% |
| HARRISONBURG, VA (FHA|USDA|VA) | 7 | $2,375,000 | $339,286 | $3,659 | 2.93% |
| Key West, FL (FHA|USDA|VA) | 5 | $2,355,000 | $471,000 | $7,840 | 3.43% |
| Morehead City, NC (FHA|USDA|VA) | 5 | $2,225,000 | $445,000 | $2,979 | 2.80% |
| BURLINGTON, NC (FHA|USDA|VA) | 8 | $2,020,000 | $252,500 | $2,836 | 3.17% |
| ASHEVILLE, NC (FHA|USDA|VA) | 6 | $1,660,000 | $276,667 | $3,208 | 3.10% |
| PITTSBURGH, PA (FHA|USDA|VA) | 6 | $1,580,000 | $263,333 | $4,163 | 2.98% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 4 | $1,490,000 | $372,500 | $3,815 | 3.09% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 6 | $1,390,000 | $231,667 | $4,836 | 3.65% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $3,883 | 3.19% |
| Brevard, NC (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $8,863 | 2.67% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 3 | $1,235,000 | $411,667 | $5,489 | 2.83% |
| Danville, VA (FHA|USDA|VA) | 7 | $1,215,000 | $173,571 | $5,302 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $4,492 | 2.78% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $3,079 | 2.87% |
| Shelby, NC (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $2,052 | 2.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $3,730 | 2.91% |
| Albemarle, NC (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $4,591 | 2.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $4,792 | 2.83% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $3,856 | 3.46% |
| Elizabeth City, NC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,444 | 3.50% |
| Greenwood, SC (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,800 | 2.75% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,718 | 3.50% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,945 | 2.87% |
| READING, PA (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,126 | 3.71% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,707 | 3.44% |
| Huntingdon, PA (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $4,007 | 2.81% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 4.25% |
| Sanford, NC (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,606 | 2.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $4,828 | 3.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,885 | 2.63% |
| LEBANON, PA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,569 | 3.06% |
| STAUNTON, VA (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,811 | 3.63% |
| MORGANTOWN, WV (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,458 | 2.71% |
| CHARLESTON, WV (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,723 | 3.44% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,583 | 3.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,152 | 2.63% |
| Fairmont, WV (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,205 | 3.19% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,330 | 2.38% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,530 | 3.31% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,739 | 2.50% |
| Lock Haven, PA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,607 | 3.38% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,823 | 2.69% |
| North Wilkesboro, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,756 | 2.94% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,558 | 3.50% |
| Henderson, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,892 | 2.25% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,267 | 3.38% |
| Boone, NC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,086 | 4.06% |
| ERIE, PA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,940 | 2.56% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,848 | 3.38% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,602 | 3.13% |
| Indiana, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,294 | 3.00% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,081 | 2.63% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,484 | 3.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,848 | 2.75% |
| Forest City, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,655 | 3.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,984 | 2.75% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,982 | 3.13% |
| Rockingham, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,950 | 2.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,712 | 2.88% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,840 | 3.13% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 3 | $25,000 | $8,333 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against MCLEAN MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 72
Similarity Rank: 90
Similarity Rank: 372
Similarity Rank: 384
Similarity Rank: 432
Similarity Rank: 496
Similarity Rank: 640
Similarity Rank: 680
Similarity Rank: 783
Similarity Rank: 860
Product Mix
For 2020, Mclean Mortgage Corporation's most frequently originated type of loan was Conventional, with 12,008 originations. Their 2nd most popular type was VA, with 1,896 originations.
Loan Reason
For 2020, Mclean Mortgage Corporation's most frequently cited loan purpose was Refi, with 6,986 originations. The 2nd most popular reason was Home Purchase, with 6,843 originations.
Loan Duration/Length
For 2020, Mclean Mortgage Corporation's most frequently cited loan duration was 30 Year, with 13,331 originations. The 2nd most popular length was 15 Year, with 1,051 originations.
Origination Fees/Closing Costs
Mclean Mortgage Corporation's average total fees were $5,008, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 8,050 originations.
Interest Rates
During 2020, Mclean Mortgage Corporation's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 2.5-3%, with 7,155 originations.
Loan Sizing
2020 saw Mclean Mortgage Corporation place emphasis on $200k-400k loans with 6,676 originations, totaling $1,991,520,000 in origination value.
Applicant Income
Mclean Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 3,954 originations. The second most popular income band? $150k-250k, with 3,590 originations.
Applicant Debt to Income Ratio
Mclean Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 3,840 originations. The next most common DTI ratio? 30-36%, with 2,727 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.76%
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 origination88.08%
Mclean Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15,103 | $5,609,995,000 | $371,449 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 15 | $2,625,000 | $175,000 |
| Single Family (1-4 Units):Site-Built | 15,088 | $5,607,370,000 | $371,644 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MCLEAN MORTGAGE CORPORATION | FHA mortgage | Closing on a mortgage | 1 | 50.0% |
| MCLEAN MORTGAGE CORPORATION | Other type of mortgage | Closing on a mortgage | 1 | 50.0% |