The Money House Mortgage Rates, Fees & Info

San Juan,

LEI: 549300TDRENNEZ2S6M03

Tax ID: 66-0545351

2.8 stars - out of 5 stars, based on 39 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The Money House is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. The Money House has an average proportion of conventional loans. Their top markets include San Juan, Ponce, Orlando, San GermÁn, and Aguadilla among others. The Money House has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. The Money House is typically a high fee lendor.


Originations

1,489

Origination Dollar Volume (All Markets)

$204,415,000
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Relative Rate

The Money House 's average 30 year fixed rate mortgage of loans were 3.44%.

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

This yields a difference of 0.29%.

Relative Fees

The Money House 's average total fees for a 30 year fixed rate mortgage are $6,130.

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
SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 1,040 $147,150,000 $141,490 $5,549 3.49%
PONCE, PR (FHA|USDA|VA) 123 $13,335,000 $108,415 $4,660 3.46%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 42 $9,830,000 $234,048 $6,622 2.64%
SAN GERMÁN, PR (FHA|USDA|VA) 48 $5,610,000 $116,875 $5,017 3.60%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 32 $4,480,000 $140,000 $5,811 3.44%
MAYAGÜEZ, PR (FHA|USDA|VA) 37 $4,165,000 $112,568 $5,171 3.44%
GUAYAMA, PR (FHA|USDA|VA) 42 $4,130,000 $98,333 $4,157 3.49%
Arecibo, PR (FHA|USDA|VA) 26 $2,660,000 $102,308 $4,358 3.51%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 13 $2,515,000 $193,462 $7,274 2.84%
Coamo, PR (FHA|USDA|VA) 18 $1,950,000 $108,333 $4,581 3.53%
YAUCO, PR (FHA|USDA|VA) 20 $1,940,000 $97,000 $4,118 3.53%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,310,000 $218,333 $8,365 2.79%
Santa Isabel, PR (FHA|USDA|VA) 11 $1,295,000 $117,727 $4,441 3.39%
Coco, PR (FHA|USDA|VA) 14 $1,120,000 $80,000 $3,911 3.27%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $945,000 $315,000 $9,420 2.42%
Jayuya, PR (FHA|USDA|VA) 5 $585,000 $117,000 $3,824 3.55%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $335,000 $335,000 $8,827 3.75%
Outside of Metro Areas 4 $330,000 $82,500 $5,729 3.28%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $265,000 $265,000 $9,604 3.13%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $195,000 $195,000 $7,473 2.25%
OCALA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $6,890 2.63%
HINESVILLE, GA (FHA|USDA|VA) 1 $105,000 $105,000 $4,276 2.88%

The Money House 's top markets include San Juan, Ponce, Orlando, San GermÁn, and Aguadilla among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
FHA 943 $121,575,000 $128,924 $5,556 3.40%
Conventional 267 $45,005,000 $168,558 $5,916 3.65%
USDA 192 $21,810,000 $113,594 $4,222 3.45%
VA 87 $16,025,000 $184,195 $4,761 3.35%

For the 2021 period, The Money House 's most frequently originated loan type of loans were FHA, with 943 originations. Their 2nd most popular type is Conventional, with 267 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,115 $159,965,000 $143,466 $5,963 3.47%
Refi 313 $34,455,000 $110,080 $3,182 3.48%
Cash Out Refi 61 $9,995,000 $163,852 $6,548 3.02%

For the 2021, The Money House 's most frequently cited loan purpose of loans were Home Purchase, with 1,115 originations. The 2nd most popular reason of loans were Refi, with 313 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 1,038 $141,540,000 $136,358 $5,115 3.46%
30 Year 430 $60,490,000 $140,674 $6,130 3.44%
15 Year 12 $1,550,000 $129,167 $4,983 3.19%
20 Year 8 $750,000 $93,750 $3,913 3.30%
10 Year 1 $85,000 $85,000 $3,171 2.88%

For the 2021, The Money House 's most frequently cited loan length of loans were Other, with 1,038 originations. The 2nd most popular length of loans were 30 Year, with 430 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 921 $113,075,000 $122,774
$1k-2k 222 $29,110,000 $131,126
$2k-3k 151 $20,595,000 $136,391
$3k-4k 118 $20,390,000 $172,797
$5k+ 64 $19,280,000 $301,250

$6,130 of loans were The Money House 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 921 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,209 $158,045,000 $130,724
2.5-3% 203 $34,505,000 $169,975
4-5% 43 $5,345,000 $124,302
<2.5% 27 $5,635,000 $208,704
5-6% 7 $885,000 $126,429

During 2021, The Money House 's average interest rate of loans were 3.44%, while their most frequently originated rate bucket of loans were 3-4%, with 1,209 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 716 $97,550,000 $136,243 $5,434 3.43%
$100,000 or less 546 $42,900,000 $78,571 $3,585 3.55%
$200k-400k 210 $55,700,000 $265,238 $9,439 3.29%
$400k-600k 17 $8,265,000 $486,176 $11,930 3.33%

2021 saw The Money House place emphasis on $100k-200k loans with 716 originations, totaling $97,550,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 947 $101,435,000 $107,112 $4,368 3.47%
$50k-75k 265 $41,575,000 $156,887 $6,440 3.38%
$75k-100k 115 $21,645,000 $188,217 $7,245 3.46%
$100k-150k 98 $21,240,000 $216,735 $8,081 3.41%
$150k-250k 45 $13,175,000 $292,778 $8,883 3.48%
$250k+ 19 $5,345,000 $281,316 $8,696 3.70%

The Money House lent most frequently to those with incomes in the $50k or less range, with 947 originations. The second most popular income band? $50k-75k, with 265 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 267 $38,895,000 $145,674 $5,712 3.46%
30-36% 209 $27,785,000 $132,943 $5,667 3.48%
<20% 89 $11,285,000 $126,798 $4,811 3.40%
40% 61 $8,545,000 $140,082 $5,985 3.47%
49% 59 $7,585,000 $128,559 $6,318 3.40%
42% 58 $8,070,000 $139,138 $5,912 3.42%
37% 55 $8,755,000 $159,182 $6,099 3.46%
44% 53 $6,665,000 $125,755 $5,401 3.50%
48% 51 $8,345,000 $163,627 $7,001 3.33%
36% 51 $6,765,000 $132,647 $5,171 3.51%
46% 50 $7,740,000 $154,800 $6,865 3.36%
47% 49 $6,905,000 $140,918 $6,092 3.42%
41% 46 $7,400,000 $160,870 $5,911 3.48%
38% 45 $6,145,000 $136,556 $5,301 3.44%
45% 40 $5,380,000 $134,500 $5,344 3.50%
39% 37 $5,195,000 $140,405 $5,803 3.36%
43% 36 $5,380,000 $149,444 $6,593 3.48%
50-60% 24 $4,390,000 $182,917 $6,953 3.24%
>60% 6 $770,000 $128,333 $4,043 3.15%

The Money House lent most frequently to those with DTI ratios of 20-30%, with 267 originations. The next most common DTI ratio? 30-36%, with 209 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,312 $179,510,000 $136,822 $5,415 3.46%
Not provided 123 $17,355,000 $141,098 $5,389 3.32%
Black 48 $6,770,000 $141,042 $5,094 3.53%
American Indian 4 $590,000 $147,500 $6,152 3.41%
Asian 1 $95,000 $95,000 $3,382 3.63%
Native Hawaiian 1 $95,000 $95,000 $2,824 3.00%

Approval Rates

Total approvals of all applications
90.16%

The Money House has an average approval rate.

Pick Rate

Approvals leading to origination
76.44%

The Money House has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,489 $204,415,000 $137,283

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,489 $204,415,000 $137,283

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 16 $940,000 $58,750 $3,153 3.15%
40-60% 47 $4,745,000 $100,957 $4,296 3.17%
60-80% 262 $33,880,000 $129,313 $4,921 3.61%
80-100% 1,131 $159,145,000 $140,712 $5,460 3.43%
Over 100% 33 $5,705,000 $172,879 $9,406 3.44%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
THE MONEY HOUSE, INC. Reverse mortgage Closing on a mortgage 1 25.0%
THE MONEY HOUSE, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%
THE MONEY HOUSE, INC. VA mortgage Closing on a mortgage 1 25.0%