Jet Direct Funding Corp Mortgage Rates, Fees & Info
DOVER, DELEI: 549300U4FBW37LFHW771
Tax ID: 20-5614029
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Mortgage Data
Review & 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 a a high proportion of FHA loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Miami, San Francisco, Poughkeepsie, and Bridgeport among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)Jet Direct Funding 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. Jet Direct Funding Corp is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.75% | 4/18/24 |
| 30 Year Conventional Refi | 6.62% | 4/18/24 |
| 30 Year Cash-out Refi | 6.64% | 4/18/24 |
| 30 Year FHA Purchase | 7.34% | 4/18/24 |
| 30 Year FHA Refi | 7.13% | 4/18/24 |
| 30 Year VA Purchase | 6.14% | 4/18/24 |
| 15 Year Conventional Purchase | 6.46% | 4/18/24 |
| 15 Year Conventional Refi | 5.95% | 4/18/24 |
| 15 Year Cash-out Refi | 5.95% | 4/18/24 |
| 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 Direct Funding Corp Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
674Origination Dollar Volume (All Markets)
$243,260,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 582 | $223,510,000 | $384,038 | $14,680 | 4.89% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 12 | $3,420,000 | $285,000 | $8,138 | 5.07% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 5 | $3,335,000 | $667,000 | $0 | 6.80% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 8 | $1,820,000 | $227,500 | $10,064 | 5.05% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 7 | $1,535,000 | $219,286 | $9,666 | 4.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 10 | $1,360,000 | $136,000 | $6,375 | 5.27% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $11,443 | 5.04% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 5.82% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $4,782 | 5.03% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,576 | 5.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $16,581 | 5.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $9,074 | 5.14% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,871 | 4.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $8,266 | 5.53% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $10,460 | 5.58% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $12,925 | 4.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $16,514 | 5.13% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,101 | 5.06% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,164 | 5.51% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $8,109 | 5.46% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $11,205 | 4.63% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 4.87% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,772 | 5.88% |
| KINGSTON, NY (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 5.49% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,203 | 4.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,237 | 4.13% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,988 | 5.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.56% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.83% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 5.40% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.32% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 5.19% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.66% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.32% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.40% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.90% |
Similar Lenders
We use machine learning to identify the top lenders compared against JET DIRECT FUNDING CORP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Jet Direct Funding Corp's most frequently originated type of loan was Conventional, with 278 originations. Their 2nd most popular type was FHA, with 255 originations.
Loan Reason
For 2018, Jet Direct Funding Corp's most frequently cited loan purpose was Home Purchase, with 405 originations. The 2nd most popular reason was Refi, with 154 originations.
Loan Duration/Length
For 2018, Jet Direct Funding Corp's most frequently cited loan duration was 30 Year, with 543 originations. The 2nd most popular length was Other, with 126 originations.
Origination Fees/Closing Costs
Jet Direct Funding Corp's average total fees were $14,184, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 325 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 413 | $158,835,000 | $384,588 |
| 5-6% | 239 | $74,095,000 | $310,021 |
| 3-4% | 13 | $5,525,000 | $425,000 |
| 6-7% | 8 | $4,440,000 | $555,000 |
During 2018, Jet Direct Funding Corp's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 413 originations.
Loan Sizing
2018 saw Jet Direct Funding Corp place emphasis on $200k-400k loans with 303 originations, totaling $93,945,000 in origination value.
Applicant Income
Jet Direct Funding Corp lent most frequently to those with incomes in the $100k-150k range, with 184 originations. The second most popular income band? $75k-100k, with 149 originations.
Applicant Debt to Income Ratio
Jet Direct Funding Corp lent most frequently to those with DTI ratios of 50-60%, with 138 originations. The next most common DTI ratio? 49%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.27%
Jet Direct Funding Corp has an average approval rate.
Pick Rate
Approvals leading to origination68.25%
Jet Direct Funding Corp has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 674 | $243,260,000 | $360,920 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $685,000 | $685,000 |
| Single Family (1-4 Units):Site-Built | 673 | $242,575,000 | $360,438 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Jet Direct Funding Corp | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |