Jet Direct Funding Corp Mortgage Rates, Fees & Info

DOVER, DE

LEI: 549300U4FBW37LFHW771

Tax ID: 20-5614029

1 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Jet Direct Funding Corp is a smaller mortgage company specializing in Home Purchase loans. Jet Direct Funding Corp has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include New York, Wilmington, Bridgeport, Miami, and Poughkeepsie among others. Jet Direct Funding Corp 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 Direct Funding Corp is typically a high fee lendor.


Originations

1,387

Origination Dollar Volume (All Markets)

$598,365,000

Awards

JET DIRECT FUNDING CORP 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Jet Direct Funding Corp's average 30 year fixed rate mortgage of loans were 3.13%.

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

This yields a difference of -0.02%.

Relative Fees

Jet Direct Funding Corp's average total fees for a 30 year fixed rate mortgage are $12,562.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1,096 $512,020,000 $467,172 $13,421 3.11%
WILMINGTON, NC (FHA|USDA|VA) 33 $8,595,000 $260,455 $4,154 2.92%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 20 $7,750,000 $387,500 $14,809 3.27%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 19 $7,035,000 $370,263 $8,426 3.01%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 17 $6,395,000 $376,176 $11,779 3.07%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 16 $4,790,000 $299,375 $5,278 3.05%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 12 $3,580,000 $298,333 $5,525 2.80%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 8 $2,970,000 $371,250 $3,046 2.67%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 12 $2,900,000 $241,667 $9,727 3.29%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $2,375,000 $339,286 $9,142 3.23%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $2,185,000 $312,143 $8,010 3.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 7 $2,145,000 $306,429 $6,944 3.13%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 8 $2,050,000 $256,250 $4,689 2.95%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 7 $1,935,000 $276,429 $7,498 3.50%
JACKSONVILLE, NC (FHA|USDA|VA) 7 $1,925,000 $275,000 $7,372 2.73%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $1,750,000 $291,667 $5,839 3.15%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $1,740,000 $290,000 $7,176 3.40%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $1,565,000 $223,571 $8,190 3.20%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 8 $1,530,000 $191,250 $6,057 2.98%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,495,000 $498,333 $13,607 2.96%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,365,000 $455,000 $2,773 3.00%
COLUMBUS, OH (FHA|USDA|VA) 4 $1,290,000 $322,500 $8,750 3.28%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 4 $1,190,000 $297,500 $4,083 3.38%
KINGSTON, NY (FHA|USDA|VA) 3 $1,105,000 $368,333 $7,856 3.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $1,070,000 $267,500 $6,016 3.22%
Outside of Metro Areas 4 $880,000 $220,000 $8,513 3.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $715,000 $238,333 $7,304 3.21%
FAYETTEVILLE, NC (FHA|USDA|VA) 3 $635,000 $211,667 $10,148 2.88%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $570,000 $285,000 $8,379 2.88%
SAVANNAH, GA (FHA|USDA|VA) 2 $560,000 $280,000 $5,623 3.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $545,000 $545,000 $4,918 3.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $545,000 $545,000 $0 2.88%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $515,000 $515,000 $15,039 3.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $515,000 $171,667 $5,970 3.42%
SALINAS, CA (FHA|USDA|VA) 1 $505,000 $505,000 $2,520 3.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $485,000 $485,000 $11,660 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $455,000 $455,000 $6,253 3.25%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $420,000 $210,000 $9,617 3.31%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 3 $415,000 $138,333 $2,707 2.71%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 3 $395,000 $131,667 $8,035 3.46%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $7,466 2.88%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $365,000 $365,000 $15,941 2.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $335,000 $335,000 $8,110 3.13%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $325,000 $325,000 $3,982 3.50%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $305,000 $305,000 $10,287 2.88%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $305,000 $305,000 $2,907 2.63%
Cookeville, TN (FHA|USDA|VA) 1 $295,000 $295,000 $4,050 2.88%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,370 4.00%
Brevard, NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,178 2.63%
DOVER, DE (FHA|USDA|VA) 1 $285,000 $285,000 $5,612 3.13%
SPARTANBURG, SC (FHA|USDA|VA) 1 $285,000 $285,000 $3,206 2.75%
PITTSBURGH, PA (FHA|USDA|VA) 1 $275,000 $275,000 $8,654 3.25%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $275,000 $275,000 $4,845 3.25%
SYRACUSE, NY (FHA|USDA|VA) 1 $265,000 $265,000 $12,333 2.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $255,000 $255,000 $14,672 2.50%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $245,000 $245,000 $6,363 3.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $225,000 $225,000 $9,736 3.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $205,000 $205,000 $8,580 2.13%
ASHEVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $3,068 2.50%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $205,000 $205,000 $6,896 3.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,685 3.38%
Torrington, CT (FHA|USDA|VA) 1 $205,000 $205,000 $11,000 3.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $195,000 $195,000 $3,643 3.38%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $185,000 $185,000 $7,061 3.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $175,000 $175,000 $6,400 2.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $165,000 $165,000 $5,661 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $6,054 2.50%
UTICA-ROME, NY (FHA|USDA|VA) 1 $135,000 $135,000 $9,556 3.25%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $125,000 $125,000 $6,046 2.88%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $115,000 $115,000 $7,501 3.13%
BINGHAMTON, NY (FHA|USDA|VA) 1 $105,000 $105,000 $5,958 3.00%
NEW BERN, NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.88%

Jet Direct Funding Corp's top markets include New York, Wilmington, Bridgeport, Miami, and Poughkeepsie among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,027 $426,775,000 $415,555 $9,559 3.13%
FHA 346 $166,750,000 $481,936 $19,826 3.03%
VA 14 $4,840,000 $345,714 $9,679 2.75%

For the 2021 period, Jet Direct Funding Corp's most frequently originated loan type of loans were Conventional, with 1,027 originations. Their 2nd most popular type is FHA, with 346 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 888 $399,700,000 $450,113 $13,349 3.13%
Refi 258 $102,590,000 $397,636 $9,828 2.95%
Cash Out Refi 241 $96,075,000 $398,651 $10,540 3.18%

For the 2021, Jet Direct Funding Corp's most frequently cited loan purpose of loans were Home Purchase, with 888 originations. The 2nd most popular reason of loans were Refi, with 258 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,283 $563,305,000 $439,053 $12,562 3.13%
15 Year 51 $16,135,000 $316,373 $7,117 2.66%
20 Year 33 $11,135,000 $337,424 $8,216 2.86%
Other 19 $7,655,000 $402,895 $8,892 3.06%
10 Year 1 $135,000 $135,000 $0 3.50%

For the 2021, Jet Direct Funding Corp's most frequently cited loan length of loans were 30 Year, with 1,283 originations. The 2nd most popular length of loans were 15 Year, with 51 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 699 $344,075,000 $492,239
$2k-3k 367 $152,095,000 $414,428
$3k-4k 153 $50,985,000 $333,235
$<1k 88 $24,450,000 $277,841
$1k-2k 41 $12,865,000 $313,780

$12,562 of loans were Jet Direct Funding Corp's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 699 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 762 $343,620,000 $450,945
2.5-3% 525 $217,275,000 $413,857
<2.5% 86 $33,080,000 $384,651
4-5% 14 $4,390,000 $313,571

During 2021, Jet Direct Funding Corp's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 3-4%, with 762 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 588 $285,360,000 $485,306 $13,269 3.10%
$200k-400k 506 $158,530,000 $313,300 $8,936 3.05%
$600k-1MM 192 $134,860,000 $702,396 $19,838 3.19%
$100k-200k 87 $13,475,000 $154,885 $6,013 3.15%
$100,000 or less 9 $805,000 $89,444 $3,974 3.42%
$1MM+ 5 $5,335,000 $1,067,000 $28,524 3.25%

2021 saw Jet Direct Funding Corp place emphasis on $400k-600k loans with 588 originations, totaling $285,360,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 509 $241,335,000 $474,136 $13,714 3.12%
$75k-100k 338 $135,340,000 $400,414 $11,939 3.09%
$150k-250k 238 $117,490,000 $493,655 $12,389 3.12%
$50k-75k 193 $59,875,000 $310,233 $10,019 3.05%
$250k+ 62 $34,660,000 $559,032 $10,807 3.20%
$50k or less 47 $9,665,000 $205,638 $7,668 2.99%

Jet Direct Funding Corp lent most frequently to those with incomes in the $100k-150k range, with 509 originations. The second most popular income band? $75k-100k, with 338 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
50-60% 152 $74,630,000 $490,987 $19,913 2.98%
30-36% 143 $54,795,000 $383,182 $9,247 3.09%
49% 120 $55,050,000 $458,750 $12,877 3.14%
20-30% 116 $44,920,000 $387,241 $8,755 3.02%
44% 96 $40,340,000 $420,208 $12,691 3.19%
48% 93 $39,865,000 $428,656 $12,859 3.13%
43% 79 $33,005,000 $417,785 $10,955 3.10%
42% 70 $30,430,000 $434,714 $11,277 3.14%
47% 70 $34,760,000 $496,571 $15,139 3.08%
41% 65 $27,085,000 $416,692 $11,045 3.19%
45% 64 $31,040,000 $485,000 $14,094 3.19%
46% 59 $25,365,000 $429,915 $11,935 3.07%
39% 54 $21,260,000 $393,704 $9,452 3.10%
38% 51 $23,185,000 $454,608 $9,815 3.08%
40% 41 $15,905,000 $387,927 $9,545 3.16%
37% 39 $15,355,000 $393,718 $10,619 3.11%
36% 38 $15,980,000 $420,526 $11,008 3.21%
<20% 30 $13,110,000 $437,000 $7,381 3.05%
>60% 3 $1,255,000 $418,333 $7,793 3.58%

Jet Direct Funding Corp lent most frequently to those with DTI ratios of 50-60%, with 152 originations. The next most common DTI ratio? 30-36%, with 143 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 807 $330,275,000 $409,263 $10,497 3.05%
Black 335 $154,805,000 $462,104 $15,600 3.18%
Asian 108 $51,760,000 $479,259 $13,547 3.14%
Not provided 93 $39,905,000 $429,086 $12,690 3.11%
American Indian 36 $18,220,000 $506,111 $13,291 3.33%
Native Hawaiian 5 $1,885,000 $377,000 $11,640 3.15%
Asian Indian 2 $1,120,000 $560,000 $18,703 3.00%
Other Asian 1 $395,000 $395,000 $11,356 3.50%

Approval Rates

Total approvals of all applications
90.39%

Jet Direct Funding Corp has an average approval rate.

Pick Rate

Approvals leading to origination
72.58%

Jet Direct Funding Corp has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,387 $598,365,000 $431,410

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,387 $598,365,000 $431,410

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 31 $8,515,000 $274,677 $7,850 3.01%
40-60% 138 $49,480,000 $358,551 $8,305 3.00%
60-80% 467 $198,475,000 $425,000 $10,099 3.16%
80-100% 743 $339,715,000 $457,221 $14,326 3.09%
Over 100% 5 $1,675,000 $335,000 $13,919 2.70%
Under 20% 3 $505,000 $168,333 $7,962 3.29%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Jet Direct Funding Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%