Jet Homeloans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300TYV7NDBX6FUR63

Tax ID: 82-2245447

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Jacksonville, Washington, Orlando, Lakeland, and Hilton Head Island among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Jet Homeloans 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. Jet Homeloans 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 7.00% 12/16/24
    30 Year Conventional Refi 6.87% 12/16/24
    30 Year Cash-out Refi 6.97% 12/16/24
    30 Year FHA Purchase 7.55% 12/16/24
    30 Year FHA Refi 6.63% 12/16/24
    30 Year VA Purchase 6.50% 12/16/24
    30 Year USDA Purchase 7.48% 12/16/24
    15 Year Conventional Purchase 6.34% 12/16/24
    15 Year FHA Purchase 7.57% 12/16/24
    15 Year VA Purchase 6.50% 12/16/24
    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.

    Jet Homeloans Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Jet Homeloans. 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

    456

    Origination Dollar Volume (All Markets)

    $136,540,000
    Show all (10) awards

    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
    JACKSONVILLE, FL (FHA|USDA|VA) 292 $82,370,000 $282,089 $7,302 2.97%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 45 $20,195,000 $448,778 $7,188 2.84%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 25 $9,775,000 $391,000 $6,746 2.86%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 39 $8,725,000 $223,718 $8,197 2.87%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 19 $5,515,000 $290,263 $6,332 3.01%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 13 $3,365,000 $258,846 $7,619 2.82%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 10 $3,180,000 $318,000 $7,955 2.85%
    SAVANNAH, GA (FHA|USDA|VA) 11 $2,845,000 $258,636 $5,431 3.02%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $475,000 $475,000 $5,583 2.99%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $4,637 3.49%
    Jet Homeloans's top markets include Jacksonville, Washington, Orlando, Lakeland, and Hilton Head Island among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against JET HOMELOANS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FAIR WAY LENDING LLC
    Similarity Rank: 385
    WESTERRA CREDIT UNION
    Similarity Rank: 525
    Adams Bank & Trust
    Similarity Rank: 782
    Opendoor Home Loans LLC
    Similarity Rank: 800
    Piedmont Federal Savings Bank
    Similarity Rank: 860
    Queensborough National Bank & Trust Company
    Similarity Rank: 874
    Ent Credit Union
    Similarity Rank: 884
    THE MONEY HOUSE INC.
    Similarity Rank: 946
    First National Bank
    Similarity Rank: 1008
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 257 $79,065,000 $307,646 $5,707 3.03%
    FHA 114 $29,960,000 $262,807 $10,038 2.88%
    VA 76 $24,910,000 $327,763 $8,146 2.74%
    USDA 9 $2,605,000 $289,444 $8,824 2.79%

    For 2020, Jet Homeloans's most frequently originated type of loan was Conventional, with 257 originations. Their 2nd most popular type was FHA, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 438 $130,420,000 $297,763 $7,364 2.94%
    Refi 15 $5,155,000 $343,667 $4,613 2.75%
    Cash Out Refi 3 $965,000 $321,667 $6,121 3.12%

    For 2020, Jet Homeloans's most frequently cited loan purpose was Home Purchase, with 438 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 441 $132,605,000 $300,692 $7,332 2.94%
    15 Year 12 $3,210,000 $267,500 $5,150 2.73%
    20 Year 2 $340,000 $170,000 $4,734 3.50%
    Other 1 $385,000 $385,000 $5,834 3.00%

    For 2020, Jet Homeloans's most frequently cited loan duration was 30 Year, with 441 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 203 $63,765,000 $314,113
    $2k-3k 95 $24,215,000 $254,895
    $3k-4k 72 $21,180,000 $294,167
    $5k+ 33 $11,135,000 $337,424
    $4k-5k 32 $9,490,000 $296,563
    $<1k 19 $6,385,000 $336,053

    Jet Homeloans's average total fees were $7,332, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 203 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 296 $92,020,000 $310,878
    3-4% 119 $32,455,000 $272,731
    <2.5% 36 $11,310,000 $314,167
    4-5% 3 $555,000 $185,000
    5-6% 2 $200,000 $100,000

    During 2020, Jet Homeloans's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 296 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 331 $91,965,000 $277,840 $7,563 2.92%
    $400k-600k 68 $32,650,000 $480,147 $7,301 2.84%
    $100k-200k 44 $7,730,000 $175,682 $5,470 3.12%
    $100,000 or less 8 $650,000 $81,250 $3,623 3.57%
    $600k-1MM 5 $3,545,000 $709,000 $7,933 3.00%

    2020 saw Jet Homeloans place emphasis on $200k-400k loans with 331 originations, totaling $91,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 118 $28,660,000 $242,881 $7,457 2.93%
    $100k-150k 99 $34,155,000 $345,000 $7,116 3.00%
    $75k-100k 96 $27,750,000 $289,063 $7,217 2.90%
    $150k-250k 56 $23,130,000 $413,036 $7,370 2.98%
    $50k or less 46 $9,420,000 $204,783 $6,488 3.00%
    $250k+ 14 $5,760,000 $411,429 $7,213 2.89%

    Jet Homeloans lent most frequently to those with incomes in the $50k-75k range, with 118 originations. The second most popular income band? $100k-150k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 76 $24,050,000 $316,447 $6,967 2.94%
    20-30% 74 $23,220,000 $313,784 $7,030 2.94%
    50-60% 48 $13,190,000 $274,792 $9,566 2.81%
    <20% 21 $6,075,000 $289,286 $6,089 2.87%
    40% 19 $5,245,000 $276,053 $5,842 3.10%
    41% 18 $5,190,000 $288,333 $8,447 2.91%
    37% 18 $5,530,000 $307,222 $5,957 3.05%
    39% 17 $5,125,000 $301,471 $6,660 3.07%
    44% 17 $4,895,000 $287,941 $6,483 3.06%
    42% 16 $4,990,000 $311,875 $6,138 3.12%
    38% 16 $4,790,000 $299,375 $7,719 2.92%
    49% 16 $4,670,000 $291,875 $7,907 2.89%
    45% 14 $3,400,000 $242,857 $5,839 3.17%
    36% 14 $3,480,000 $248,571 $7,155 3.02%
    48% 12 $3,890,000 $324,167 $5,959 2.96%
    43% 11 $3,675,000 $334,091 $8,422 2.90%
    47% 10 $3,050,000 $305,000 $5,304 2.86%
    46% 10 $3,190,000 $319,000 $9,089 2.84%
    >60% 2 $1,220,000 $610,000 $9,600 2.69%

    Jet Homeloans lent most frequently to those with DTI ratios of 30-36%, with 76 originations. The next most common DTI ratio? 20-30%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 289 $86,815,000 $300,398 $6,952 2.94%
    Black 70 $19,360,000 $276,571 $8,215 2.96%
    Not provided 61 $19,135,000 $313,689 $8,074 2.87%
    Asian 27 $8,815,000 $326,481 $6,112 2.96%
    Asian Indian 3 $595,000 $198,333 $6,968 3.12%
    American Indian 2 $510,000 $255,000 $8,349 2.94%
    Filipino 2 $490,000 $245,000 $8,527 2.94%
    Chinese 1 $475,000 $475,000 $4,418 2.88%
    Vietnamese 1 $345,000 $345,000 $12,306 2.88%

    Approval Rates

    Total approvals of all applications
    98.92%

    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
    80.04%

    Jet Homeloans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 456 $136,540,000 $299,430

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 456 $136,540,000 $299,430

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $755,000 $107,857 $3,820 3.23%
    40-60% 13 $3,605,000 $277,308 $4,895 2.78%
    60-80% 67 $21,665,000 $323,358 $6,054 3.00%
    80-100% 322 $96,850,000 $300,776 $7,318 2.95%
    Over 100% 19 $5,945,000 $312,895 $12,322 2.82%
    Under 20% 1 $55,000 $55,000 $3,162 2.87%