New Fed Mortgage Corp. Rates, Fees & Info
DANVERS, MALEI: 549300TB3TMP4RV5T078
Tax ID: 04-3508773
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Mortgage Data
Review & Overview
New Fed Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. New Fed Mortgage Corp. 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: Boston, College Station, Worcester, San Antonio, and Philadelphia among others. We have data for 56 markets. (Some data included below & more in-depth data is available with an active subscription.)New Fed Mortgage Corp. 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. New Fed Mortgage Corp. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.07% | 4/16/25 |
| 30 Year Conventional Refi | 6.88% | 4/16/25 |
| 30 Year Cash-out Refi | 7.30% | 4/16/25 |
| 30 Year FHA Purchase | 7.38% | 4/16/25 |
| 30 Year FHA Refi | 6.85% | 4/16/25 |
| 30 Year VA Purchase | 6.51% | 4/16/25 |
| 30 Year VA Refi | 6.01% | 4/16/25 |
| 30 Year USDA Purchase | 6.39% | 4/16/25 |
| 15 Year Conventional Purchase | 4.07% | 4/16/25 |
| 15 Year Conventional Refi | 6.50% | 4/16/25 |
| 15 Year Cash-out Refi | 6.50% | 4/16/25 |
| 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. | ||
New Fed Mortgage Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
895Origination Dollar Volume (All Markets)
$354,455,000Relative Rate
New Fed Mortgage Corp.'s average 30 year fixed mortgage rate was
6.69%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.14%.
Relative Fees (Closing Costs)
New Fed Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $8,938.
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 $8,356.
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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 389 | $195,345,000 | $502,172 | $8,341 | 6.71% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 69 | $20,645,000 | $299,203 | $10,333 | 6.54% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 30 | $13,310,000 | $443,667 | $7,230 | 6.12% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 44 | $11,760,000 | $267,273 | $10,929 | 6.51% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 34 | $10,300,000 | $302,941 | $8,732 | 6.69% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 26 | $10,200,000 | $392,308 | $6,198 | 6.80% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 20 | $8,750,000 | $437,500 | $9,023 | 6.87% |
| Outside of Metro Areas | 31 | $8,055,000 | $259,839 | $8,161 | 6.85% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 27 | $7,595,000 | $281,296 | $10,494 | 6.77% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 19 | $7,455,000 | $392,368 | $7,058 | 6.50% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 30 | $7,320,000 | $244,000 | $9,171 | 6.70% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 21 | $6,345,000 | $302,143 | $7,406 | 6.60% |
| TULSA, OK (FHA|USDA|VA) | 14 | $4,230,000 | $302,143 | $10,413 | 6.71% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $4,045,000 | $269,667 | $8,410 | 6.16% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 8 | $3,470,000 | $433,750 | $11,364 | 6.47% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 8 | $3,380,000 | $422,500 | $8,559 | 7.59% |
| Del Rio, TX (FHA|USDA|VA) | 13 | $3,165,000 | $243,462 | $11,878 | 6.43% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 10 | $2,850,000 | $285,000 | $10,334 | 6.82% |
| Shawnee, OK (FHA|USDA|VA) | 10 | $1,900,000 | $190,000 | $7,602 | 6.83% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 6 | $1,900,000 | $316,667 | $8,967 | 6.71% |
| DOVER, DE (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $11,256 | 6.23% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,675,000 | $335,000 | $13,675 | 6.57% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,520,000 | $380,000 | $7,671 | 6.88% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $6,231 | 7.22% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $1,330,000 | $332,500 | $5,774 | 6.72% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,235,000 | $411,667 | $8,142 | 7.42% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $19,099 | 6.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $9,475 | 7.25% |
| Concord, NH (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $11,951 | 5.63% |
| Eagle Pass, TX (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $9,804 | 6.33% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $8,391 | 6.31% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $14,104 | 6.88% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $11,472 | 6.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $15,784 | 6.63% |
| Kerrville, TX (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $6,738 | 6.06% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,968 | 7.63% |
| PITTSFIELD, MA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $7,594 | 7.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $12,847 | 5.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $7,081 | 6.75% |
| Laconia, NH (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $8,786 | 7.13% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,394 | 6.87% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,752 | 7.49% |
| Muskogee, OK (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $7,317 | 7.08% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $13,309 | 7.00% |
| Gaffney, SC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $9,843 | 6.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,622 | 7.63% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,570 | 6.38% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $13,474 | 6.25% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,270 | 7.38% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,953 | 6.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,826 | 6.25% |
| Brenham, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,606 | 6.99% |
| Elk City, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,349 | 6.25% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,142 | 7.63% |
| Miami, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,170 | 6.75% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 9.88% |
Similar Lenders
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Product Mix
For 2024, New Fed Mortgage Corp.'s most frequently originated type of loan was Conventional, with 618 originations. Their 2nd most popular type was FHA, with 233 originations.
Loan Reason
For 2024, New Fed Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 745 originations. The 2nd most popular reason was Refi, with 87 originations.
Loan Duration/Length
For 2024, New Fed Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 868 originations. The 2nd most popular length was Other, with 12 originations.
Origination Fees/Closing Costs
New Fed Mortgage Corp.'s average total fees were $8,938, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 376 originations.
Interest Rates
During 2024, New Fed Mortgage Corp.'s average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 514 originations.
Loan Sizing
2024 saw New Fed Mortgage Corp. place emphasis on $200k-400k loans with 362 originations, totaling $107,400,000 in origination value.
Applicant Income
New Fed Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 278 originations. The second most popular income band? $150k-250k, with 221 originations.
Applicant Debt to Income Ratio
New Fed Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 123 originations. The next most common DTI ratio? 49%, with 90 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.48%
New Fed Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination85.81%
New Fed Mortgage Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 895 | $354,455,000 | $396,039 |