Jet Homeloans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300TYV7NDBX6FUR63

Tax ID: 82-2245447

2.7 stars - out of 5 stars, based on 47 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Jet Homeloans is a smaller mortgage company specializing in Home Purchase loans. Jet Homeloans 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 include Jacksonville, Orlando, Washington, Austin, and Deltona among others. Jet Homeloans 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. Jet Homeloans is typically a high fee lendor.


Originations

2,243

Origination Dollar Volume (All Markets)

$722,205,000

Relative Rate

Jet Homeloans 's average 30 year fixed rate mortgage of loans were 3.21%.

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

This yields a difference of 0.06%.

Relative Fees

Jet Homeloans 's average total fees for a 30 year fixed rate mortgage are $6,863.

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
JACKSONVILLE, FL (FHA|USDA|VA) 1,169 $360,715,000 $308,567 $6,841 3.20%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 250 $97,120,000 $388,480 $6,294 3.20%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 114 $61,100,000 $535,965 $7,767 3.02%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 89 $29,425,000 $330,618 $7,478 3.22%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 96 $27,710,000 $288,646 $6,956 3.30%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 93 $27,595,000 $296,720 $5,498 3.13%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 76 $21,070,000 $277,237 $5,739 3.15%
SAVANNAH, GA (FHA|USDA|VA) 70 $18,300,000 $261,429 $6,736 3.08%
FAYETTEVILLE, NC (FHA|USDA|VA) 55 $15,385,000 $279,727 $7,916 3.14%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 61 $15,245,000 $249,918 $7,604 3.30%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 45 $10,785,000 $239,667 $5,851 3.22%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 21 $6,165,000 $293,571 $7,111 3.12%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 8 $4,030,000 $503,750 $7,511 3.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 16 $3,930,000 $245,625 $4,024 3.27%
GREELEY, CO (FHA|USDA|VA) 7 $2,905,000 $415,000 $4,396 3.05%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $2,500,000 $416,667 $4,631 3.02%
Outside of Metro Areas 7 $2,155,000 $307,857 $4,479 3.28%
RALEIGH-CARY, NC (FHA|USDA|VA) 6 $1,990,000 $331,667 $5,228 3.21%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,825,000 $365,000 $4,637 2.87%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,170,000 $195,000 $6,865 3.10%
Sanford, NC (FHA|USDA|VA) 3 $1,055,000 $351,667 $5,931 3.12%
JACKSONVILLE, NC (FHA|USDA|VA) 5 $1,015,000 $203,000 $5,382 3.45%
FORT COLLINS, CO (FHA|USDA|VA) 2 $890,000 $445,000 $6,450 3.62%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $675,000 $225,000 $4,109 2.54%
St. Marys, GA (FHA|USDA|VA) 2 $620,000 $310,000 $4,430 2.88%
WILMINGTON, NC (FHA|USDA|VA) 2 $540,000 $270,000 $4,256 3.31%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $450,000 $225,000 $7,073 3.13%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $405,000 $405,000 $3,824 3.13%
Morehead City, NC (FHA|USDA|VA) 1 $405,000 $405,000 $12,909 2.88%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $3,340 2.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $3,172 2.38%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $355,000 $355,000 $6,134 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $17,741 3.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $330,000 $165,000 $3,885 4.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $325,000 $325,000 $12,314 2.50%
ASHEVILLE, NC (FHA|USDA|VA) 1 $315,000 $315,000 $4,871 3.00%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $305,000 $305,000 $10,952 2.99%
Palatka, FL (FHA|USDA|VA) 2 $290,000 $145,000 $3,213 3.38%
COLUMBIA, SC (FHA|USDA|VA) 2 $290,000 $145,000 $5,133 3.38%
Laurinburg, NC (FHA|USDA|VA) 1 $285,000 $285,000 $10,252 3.13%
Albemarle, NC (FHA|USDA|VA) 1 $285,000 $285,000 $6,814 3.25%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $235,000 $235,000 $4,637 2.99%
GAINESVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $5,890 3.25%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,886 3.38%
BRUNSWICK, GA (FHA|USDA|VA) 1 $155,000 $155,000 $6,825 3.38%
SPARTANBURG, SC (FHA|USDA|VA) 1 $145,000 $145,000 $3,454 4.74%
GOLDSBORO, NC (FHA|USDA|VA) 1 $145,000 $145,000 $1,755 3.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,815 2.99%

Jet Homeloans 's top markets include Jacksonville, Orlando, Washington, Austin, and Deltona among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,540 $492,120,000 $319,558 $5,208 3.22%
VA 356 $126,730,000 $355,983 $10,097 3.03%
FHA 328 $98,170,000 $299,299 $10,090 3.20%
USDA 19 $5,185,000 $272,895 $8,029 2.95%

For the 2021 period, Jet Homeloans 's most frequently originated loan type of loans were Conventional, with 1,540 originations. Their 2nd most popular type is VA, with 356 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,104 $683,590,000 $324,900 $6,864 3.20%
Refi 82 $22,810,000 $278,171 $4,111 2.91%
Cash Out Refi 57 $15,805,000 $277,281 $5,299 3.18%

For the 2021, Jet Homeloans 's most frequently cited loan purpose of loans were Home Purchase, with 2,104 originations. The 2nd most popular reason of loans were Refi, with 82 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,104 $685,820,000 $325,960 $6,863 3.21%
15 Year 113 $28,915,000 $255,885 $4,415 2.75%
20 Year 20 $6,010,000 $300,500 $5,613 2.94%
10 Year 5 $1,085,000 $217,000 $4,843 2.48%
Other 1 $375,000 $375,000 $4,984 2.25%

For the 2021, Jet Homeloans 's most frequently cited loan length of loans were 30 Year, with 2,104 originations. The 2nd most popular length of loans were 15 Year, with 113 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,193 $382,935,000 $320,985
$3k-4k 404 $130,530,000 $323,094
$2k-3k 359 $109,825,000 $305,919
$5k+ 230 $84,140,000 $365,826
$<1k 55 $14,005,000 $254,636

$6,863 of loans were Jet Homeloans 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,193 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,351 $422,695,000 $312,876
2.5-3% 749 $253,985,000 $339,099
<2.5% 105 $36,105,000 $343,857
4-5% 38 $9,420,000 $247,895

During 2021, Jet Homeloans 's average interest rate of loans were 3.21%, while their most frequently originated rate bucket of loans were 3-4%, with 1,351 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,511 $451,825,000 $299,024 $6,893 3.21%
$400k-600k 402 $187,040,000 $465,274 $7,308 3.08%
$100k-200k 247 $39,495,000 $159,899 $4,297 3.21%
$600k-1MM 61 $42,145,000 $690,902 $9,910 3.08%
$100,000 or less 22 $1,700,000 $77,273 $2,768 3.29%

2021 saw Jet Homeloans place emphasis on $200k-400k loans with 1,511 originations, totaling $451,825,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 584 $208,000,000 $356,164 $7,010 3.17%
$75k-100k 522 $162,570,000 $311,437 $7,392 3.22%
$50k-75k 508 $132,050,000 $259,941 $6,524 3.18%
$150k-250k 373 $150,685,000 $403,981 $6,548 3.19%
$50k or less 144 $27,660,000 $192,083 $5,049 3.18%
$250k+ 96 $36,220,000 $377,292 $5,830 3.20%

Jet Homeloans lent most frequently to those with incomes in the $100k-150k range, with 584 originations. The second most popular income band? $75k-100k, with 522 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 398 $130,870,000 $328,819 $6,634 3.17%
20-30% 389 $124,145,000 $319,139 $6,014 3.15%
50-60% 187 $59,995,000 $320,829 $9,883 3.19%
<20% 135 $40,045,000 $296,630 $5,376 3.13%
44% 104 $32,320,000 $310,769 $6,493 3.22%
42% 95 $31,045,000 $326,789 $6,042 3.26%
48% 86 $26,470,000 $307,791 $7,347 3.11%
47% 84 $28,510,000 $339,405 $7,257 3.20%
41% 83 $25,645,000 $308,976 $6,875 3.26%
37% 80 $27,400,000 $342,500 $6,115 3.22%
46% 80 $26,590,000 $332,375 $6,975 3.24%
38% 78 $25,920,000 $332,308 $6,281 3.15%
43% 78 $24,990,000 $320,385 $6,390 3.29%
36% 74 $26,040,000 $351,892 $6,842 3.13%
45% 71 $20,025,000 $282,042 $6,318 3.22%
39% 69 $21,855,000 $316,739 $6,348 3.23%
49% 68 $22,560,000 $331,765 $7,202 3.20%
40% 68 $22,550,000 $331,618 $6,629 3.20%
>60% 8 $2,630,000 $328,750 $7,597 3.32%

Jet Homeloans lent most frequently to those with DTI ratios of 30-36%, with 398 originations. The next most common DTI ratio? 20-30%, with 389 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,428 $449,460,000 $314,748 $6,349 3.17%
Not provided 291 $93,245,000 $320,430 $7,213 3.20%
Black 273 $90,265,000 $330,641 $8,385 3.20%
Asian 155 $55,085,000 $355,387 $6,303 3.19%
Asian Indian 53 $20,295,000 $382,925 $5,636 3.25%
American Indian 21 $7,135,000 $339,762 $10,224 3.25%
Chinese 6 $1,640,000 $273,333 $5,818 3.41%
5 $1,435,000 $287,000 $7,451 2.98%
Filipino 3 $1,175,000 $391,667 $5,301 3.50%
Other Asian 4 $1,040,000 $260,000 $4,688 3.37%
Native Hawaiian 2 $570,000 $285,000 $6,450 3.25%
Vietnamese 1 $545,000 $545,000 $4,834 3.13%
Guamanian 1 $315,000 $315,000 $10,551 3.13%

Approval Rates

Total approvals of all applications
97.02%

Jet Homeloans 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
77.58%

Jet Homeloans has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,243 $722,205,000 $321,982

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,243 $722,205,000 $321,982

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 54 $7,800,000 $144,444 $3,597 3.13%
40-60% 126 $27,870,000 $221,190 $4,563 3.06%
60-80% 515 $155,995,000 $302,903 $5,420 3.22%
80-100% 1,403 $481,325,000 $343,068 $6,737 3.20%
Over 100% 130 $46,100,000 $354,615 $15,496 3.04%
Under 20% 7 $515,000 $73,571 $2,608 3.07%