Jet Direct Funding Corp Mortgage Rates, Fees & Info

DOVER, DE

LEI: 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. Their top markets by origination volume include: New York, Poughkeepsie, Bridgeport, Orlando, and Miami among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)

Jet Direct Funding Corp has an 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.75% 12/23/24
30 Year Conventional Refi 6.62% 12/23/24
30 Year Cash-out Refi 6.64% 12/23/24
30 Year FHA Purchase 7.34% 12/23/24
30 Year FHA Refi 7.13% 12/23/24
30 Year VA Purchase 6.14% 12/23/24
15 Year Conventional Purchase 6.46% 12/23/24
15 Year Conventional Refi 5.95% 12/23/24
15 Year Cash-out Refi 5.95% 12/23/24
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

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

This is not an official calculator from Jet Direct Funding Corp. 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

608

Origination Dollar Volume (All Markets)

$284,650,000

Awards

JET DIRECT FUNDING CORP VA Loans silver
Show all (1) 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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 472 $239,690,000 $507,818 $18,187 4.97%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 15 $5,565,000 $371,000 $13,560 5.88%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 12 $5,070,000 $422,500 $17,960 5.39%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 10 $3,580,000 $358,000 $12,558 5.21%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,855,000 $407,857 $8,142 4.43%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 8 $2,510,000 $313,750 $14,222 5.23%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $2,435,000 $487,000 $12,926 4.03%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,515,000 $303,000 $12,723 4.90%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $1,420,000 $236,667 $4,598 4.92%
Outside of Metro Areas 5 $1,115,000 $223,000 $8,133 5.05%
KINGSTON, NY (FHA|USDA|VA) 3 $1,015,000 $338,333 $13,352 6.17%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 3 $1,015,000 $338,333 $13,156 5.25%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $985,000 $985,000 $22,464 3.75%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $960,000 $480,000 $12,174 6.69%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $905,000 $301,667 $10,353 5.46%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $820,000 $410,000 $12,193 5.56%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $810,000 $202,500 $7,162 4.84%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $790,000 $395,000 $11,392 4.56%
COLUMBUS, OH (FHA|USDA|VA) 2 $790,000 $395,000 $13,357 6.19%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $710,000 $355,000 $9,251 5.81%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $645,000 $645,000 $9,122 5.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $585,000 $195,000 $5,606 5.32%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $560,000 $280,000 $8,282 4.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $545,000 $545,000 $18,835 3.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $545,000 $181,667 $7,036 6.08%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $510,000 $255,000 $10,869 4.69%
WILMINGTON, NC (FHA|USDA|VA) 2 $500,000 $250,000 $5,646 4.06%
FORT COLLINS, CO (FHA|USDA|VA) 1 $465,000 $465,000 $12,727 5.63%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $445,000 $445,000 $7,764 4.50%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $435,000 $435,000 $18,964 3.25%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $405,000 $405,000 $9,884 5.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $18,206 5.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $345,000 $345,000 $13,398 4.75%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $345,000 $345,000 $4,389 6.50%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $330,000 $165,000 $7,491 5.31%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $325,000 $325,000 $7,765 6.13%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $295,000 $295,000 $9,296 6.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $265,000 $265,000 $7,285 5.00%
Torrington, CT (FHA|USDA|VA) 1 $265,000 $265,000 $8,315 3.50%
OCALA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,993 3.75%
STOCKTON, CA (FHA|USDA|VA) 1 $185,000 $185,000 $5,215 5.50%
COLUMBIA, SC (FHA|USDA|VA) 1 $185,000 $185,000 $4,430 6.13%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $185,000 $185,000 $0 6.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $8,255 3.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $165,000 $165,000 $13,173 6.88%
REDDING, CA (FHA|USDA|VA) 1 $155,000 $155,000 $4,135 5.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,450 4.25%
YUBA CITY, CA (FHA|USDA|VA) 1 $135,000 $135,000 $4,585 4.75%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $125,000 $125,000 $3,103 6.13%
THE VILLAGES, FL (FHA|USDA|VA) 1 $125,000 $125,000 $7,025 3.38%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $7,040 6.38%
Jet Direct Funding Corp's top markets include New York, Poughkeepsie, Bridgeport, Orlando, and Miami among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • 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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 411 $177,215,000 $431,180 $12,777 5.11%
    FHA 186 $101,820,000 $547,419 $24,922 4.88%
    VA 11 $5,615,000 $510,455 $15,917 4.19%

    For 2022, Jet Direct Funding Corp's most frequently originated type of loan was Conventional, with 411 originations. Their 2nd most popular type was FHA, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 509 $245,145,000 $481,621 $17,158 5.11%
    Cash Out Refi 66 $24,570,000 $372,273 $12,935 4.62%
    Refi 33 $14,935,000 $452,576 $15,436 4.50%

    For 2022, Jet Direct Funding Corp's most frequently cited loan purpose was Home Purchase, with 509 originations. The 2nd most popular reason was Cash Out Refi, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 591 $279,225,000 $472,462 $16,837 5.05%
    15 Year 11 $4,165,000 $378,636 $11,672 3.98%
    20 Year 4 $960,000 $240,000 $4,888 4.75%
    10 Year 2 $300,000 $150,000 $6,104 3.81%

    For 2022, Jet Direct Funding Corp's most frequently cited loan duration was 30 Year, with 591 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 449 $231,465,000 $515,512
    $2k-3k 68 $27,100,000 $398,529
    $4k-5k 33 $9,885,000 $299,545
    $3k-4k 26 $6,650,000 $255,769
    $1k-2k 11 $3,005,000 $273,182
    $<1k 9 $2,295,000 $255,000

    Jet Direct Funding Corp's average total fees were $16,837, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 449 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 203 $95,695,000 $471,404
    3-4% 147 $71,285,000 $484,932
    4-5% 129 $60,025,000 $465,310
    6-7% 101 $46,225,000 $457,673
    7-8% 16 $6,790,000 $424,375
    2.5-3% 11 $4,435,000 $403,182
    Over 8% 1 $195,000 $195,000

    During 2022, Jet Direct Funding Corp's average interest rate for loans was 5.05%, while their most frequently originated rate bucket for loans was 5-6%, with 203 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 259 $127,865,000 $493,687 $16,740 5.02%
    $200k-400k 162 $50,310,000 $310,556 $11,080 5.05%
    $600k-1MM 133 $95,055,000 $714,699 $26,271 4.94%
    $100k-200k 48 $7,500,000 $156,250 $6,217 5.19%
    $100,000 or less 3 $235,000 $78,333 $5,423 5.08%
    $1MM+ 3 $3,685,000 $1,228,333 $43,092 4.92%

    2022 saw Jet Direct Funding Corp place emphasis on $400k-600k loans with 259 originations, totaling $127,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 237 $117,245,000 $494,705 $17,889 5.04%
    $150k-250k 143 $80,775,000 $564,860 $20,169 5.28%
    $75k-100k 114 $44,290,000 $388,509 $14,333 4.85%
    $50k-75k 58 $16,370,000 $282,241 $10,853 4.80%
    $250k+ 40 $22,900,000 $572,500 $15,528 4.89%
    $50k or less 16 $3,070,000 $191,875 $7,145 4.77%

    Jet Direct Funding Corp lent most frequently to those with incomes in the $100k-150k range, with 237 originations. The second most popular income band? $150k-250k, with 143 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 98 $52,090,000 $531,531 $23,413 4.96%
    49% 77 $34,925,000 $453,571 $15,888 5.07%
    30-36% 59 $23,175,000 $392,797 $11,608 4.99%
    47% 41 $21,035,000 $513,049 $18,549 5.03%
    46% 39 $17,215,000 $441,410 $16,574 4.84%
    44% 38 $17,560,000 $462,105 $15,693 5.11%
    48% 35 $18,885,000 $539,571 $20,935 5.25%
    45% 34 $16,420,000 $482,941 $17,666 4.93%
    43% 33 $15,975,000 $484,091 $15,432 5.10%
    20-30% 25 $8,895,000 $355,800 $9,550 4.73%
    41% 23 $10,465,000 $455,000 $11,882 4.98%
    42% 23 $11,285,000 $490,652 $17,650 5.32%
    39% 20 $8,240,000 $412,000 $12,463 4.95%
    37% 15 $6,955,000 $463,667 $13,217 4.74%
    38% 14 $5,590,000 $399,286 $13,176 4.71%
    40% 13 $6,065,000 $466,538 $16,650 5.62%
    <20% 9 $3,015,000 $335,000 $8,351 4.77%
    36% 9 $4,955,000 $550,556 $16,767 5.63%
    >60% 3 $1,905,000 $635,000 $16,532 5.42%

    Jet Direct Funding Corp lent most frequently to those with DTI ratios of 50-60%, with 98 originations. The next most common DTI ratio? 49%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 326 $141,670,000 $434,571 $14,137 5.00%
    Black 184 $92,610,000 $503,315 $20,668 5.07%
    Asian 57 $30,935,000 $542,719 $18,549 5.14%
    American Indian 22 $11,400,000 $518,182 $17,180 4.90%
    Not provided 16 $6,150,000 $384,375 $11,764 4.87%
    Native Hawaiian or Islander 2 $1,280,000 $640,000 $17,243 3.94%
    Other Asian 1 $605,000 $605,000 $22,337 5.63%

    Approval Rates

    Total approvals of all applications
    86.35%

    Jet Direct Funding Corp has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.59%

    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 608 $284,650,000 $468,174

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    608 $284,650,000 $468,174

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $5,020,000 $228,182 $8,151 4.55%
    40-60% 38 $12,970,000 $341,316 $11,846 5.00%
    60-80% 163 $71,535,000 $438,865 $13,838 5.14%
    80-100% 378 $192,280,000 $508,677 $18,634 5.02%
    Over 100% 4 $2,450,000 $612,500 $28,718 3.63%
    Under 20% 3 $395,000 $131,667 $4,684 4.91%