Mde Home Loans Mortgage Rates, Fees & Info

TINTON FALLS, NJ

LEI: 549300W20M87S246SZ26

Tax ID: 26-4221599

3.4 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mde Home Loans is a smaller mortgage company specializing in Home Purchase and Refi loans. Mde Home Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Philadelphia, New York, Washington, Baltimore, and York among others. Mde Home Loans 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. Mde Home Loans is typically a high fee lendor.


Originations

636

Origination Dollar Volume (All Markets)

$242,620,000

Awards

MDE Home Loans  30 Year Conventional Loans gold MDE Home Loans  FHA Loans gold MDE Home Loans  30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Mde Home Loans 's average 30 year fixed rate mortgage of loans were 2.89%.

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

This yields a difference of -0.26%.

Relative Fees

Mde Home Loans 's average total fees for a 30 year fixed rate mortgage are $7,149.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 299 $110,905,000 $370,920 $5,972 2.63%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 146 $57,200,000 $391,781 $6,564 2.87%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 31 $16,485,000 $531,774 $10,174 2.96%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 17 $7,055,000 $415,000 $6,694 2.35%
YORK-HANOVER, PA (FHA|USDA|VA) 16 $5,480,000 $342,500 $11,889 3.18%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 15 $4,185,000 $279,000 $7,247 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $3,670,000 $305,833 $5,037 2.85%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $3,570,000 $595,000 $6,664 2.63%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 8 $3,360,000 $420,000 $8,464 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $3,300,000 $550,000 $7,015 2.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $3,250,000 $406,250 $5,275 2.72%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 6 $2,950,000 $491,667 $4,464 2.96%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 8 $2,780,000 $347,500 $6,391 2.50%
OCEAN CITY, NJ (FHA|USDA|VA) 5 $1,735,000 $347,000 $5,742 2.78%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,430,000 $357,500 $3,753 2.44%
LANCASTER, PA (FHA|USDA|VA) 5 $1,415,000 $283,000 $7,799 2.68%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,195,000 $398,333 $9,582 2.79%
RICHMOND, VA (FHA|USDA|VA) 2 $1,000,000 $500,000 $3,786 2.81%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $940,000 $235,000 $7,138 3.28%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $820,000 $205,000 $4,513 2.97%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $780,000 $390,000 $7,124 3.00%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $760,000 $380,000 $4,258 2.69%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $745,000 $248,333 $7,968 3.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $745,000 $248,333 $6,360 2.66%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $610,000 $305,000 $5,020 2.75%
STOCKTON, CA (FHA|USDA|VA) 1 $545,000 $545,000 $3,622 2.38%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $485,000 $485,000 $8,829 3.25%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $405,000 $405,000 $9,214 3.13%
Outside of Metro Areas 1 $385,000 $385,000 $7,840 2.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $385,000 $385,000 $4,340 2.99%
PITTSBURGH, PA (FHA|USDA|VA) 1 $375,000 $375,000 $5,948 2.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $355,000 $355,000 $7,185 3.50%
GETTYSBURG, PA (FHA|USDA|VA) 1 $355,000 $355,000 $15,439 2.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $345,000 $345,000 $3,993 2.75%
COLUMBIA, SC (FHA|USDA|VA) 1 $335,000 $335,000 $4,453 2.99%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $315,000 $315,000 $4,370 2.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,262 3.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $305,000 $305,000 $5,086 2.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $295,000 $295,000 $4,058 3.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $5,318 2.75%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,259 2.38%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $205,000 $205,000 $4,621 2.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,738 2.38%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,413 2.75%

Mde Home Loans 's top markets include Philadelphia, New York, Washington, Baltimore, and York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 554 $209,660,000 $378,448 $5,540 2.71%
FHA 64 $23,200,000 $362,500 $13,738 2.91%
VA 18 $9,760,000 $542,222 $11,427 2.96%

For the 2021 period, Mde Home Loans 's most frequently originated loan type of loans were Conventional, with 554 originations. Their 2nd most popular type is FHA, with 64 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 325 $128,025,000 $393,923 $7,854 2.85%
Refi 297 $109,175,000 $367,593 $5,078 2.62%
Cash Out Refi 14 $5,420,000 $387,143 $6,612 2.76%

For the 2021, Mde Home Loans 's most frequently cited loan purpose of loans were Home Purchase, with 325 originations. The 2nd most popular reason of loans were Refi, with 297 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 460 $181,070,000 $393,630 $7,149 2.89%
15 Year 120 $41,860,000 $348,833 $4,942 2.24%
20 Year 44 $16,270,000 $369,773 $4,988 2.67%
10 Year 9 $2,365,000 $262,778 $4,512 2.16%
Other 3 $1,055,000 $351,667 $4,628 2.67%

For the 2021, Mde Home Loans 's most frequently cited loan length of loans were 30 Year, with 460 originations. The 2nd most popular length of loans were 15 Year, with 120 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 472 $176,380,000 $373,686
$3k-4k 63 $23,785,000 $377,540
$5k+ 59 $26,275,000 $445,339
$2k-3k 34 $11,690,000 $343,824
$<1k 8 $4,490,000 $561,250

$7,149 of loans were Mde Home Loans 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 472 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 299 $117,025,000 $391,388
<2.5% 213 $80,745,000 $379,085
3-4% 120 $43,180,000 $359,833
4-5% 3 $1,135,000 $378,333
7-8% 1 $535,000 $535,000

During 2021, Mde Home Loans 's average interest rate of loans were 2.89%, while their most frequently originated rate bucket of loans were 2.5-3%, with 299 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 342 $107,130,000 $313,246 $6,196 2.74%
$400k-600k 231 $111,235,000 $481,537 $6,964 2.69%
$100k-200k 41 $6,795,000 $165,732 $4,346 2.89%
$600k-1MM 19 $13,515,000 $711,316 $11,595 2.92%
$1MM+ 3 $3,945,000 $1,315,000 $9,643 3.25%

2021 saw Mde Home Loans place emphasis on $200k-400k loans with 342 originations, totaling $107,130,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 251 $94,295,000 $375,677 $6,181 2.66%
$150k-250k 188 $76,620,000 $407,553 $6,305 2.76%
$75k-100k 86 $30,850,000 $358,721 $7,373 2.79%
$250k+ 49 $24,045,000 $490,714 $6,617 2.80%
$50k-75k 49 $12,845,000 $262,143 $7,533 2.90%
$50k or less 12 $3,570,000 $297,500 $7,062 2.97%

Mde Home Loans lent most frequently to those with incomes in the $100k-150k range, with 251 originations. The second most popular income band? $150k-250k, with 188 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 162 $61,800,000 $381,481 $5,811 2.58%
30-36% 128 $48,800,000 $381,250 $5,968 2.64%
<20% 43 $14,215,000 $330,581 $5,382 2.69%
50-60% 28 $11,540,000 $412,143 $13,986 2.85%
39% 26 $10,020,000 $385,385 $7,117 2.91%
36% 24 $9,840,000 $410,000 $7,383 2.81%
44% 23 $7,795,000 $338,913 $4,970 2.89%
37% 21 $8,015,000 $381,667 $5,309 2.72%
41% 21 $9,355,000 $445,476 $6,628 2.98%
49% 21 $7,235,000 $344,524 $6,715 2.94%
47% 21 $7,015,000 $334,048 $6,598 3.02%
40% 20 $7,630,000 $381,500 $6,585 3.15%
38% 20 $7,430,000 $371,500 $6,734 2.85%
48% 17 $6,845,000 $402,647 $6,430 2.65%
45% 16 $5,920,000 $370,000 $7,897 2.94%
43% 15 $7,405,000 $493,667 $6,670 2.78%
46% 14 $4,570,000 $326,429 $8,198 2.75%
42% 14 $5,720,000 $408,571 $7,176 2.92%

Mde Home Loans lent most frequently to those with DTI ratios of 20-30%, with 162 originations. The next most common DTI ratio? 30-36%, with 128 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 357 $137,405,000 $384,888 $5,635 2.60%
White 220 $81,510,000 $370,500 $6,934 2.91%
Black 40 $16,020,000 $400,500 $11,857 3.07%
Not provided 15 $5,975,000 $398,333 $7,026 2.76%
Asian Indian 2 $800,000 $400,000 $4,332 2.81%
Other Asian 1 $575,000 $575,000 $11,817 3.50%
Native Hawaiian 1 $335,000 $335,000 $17,855 2.88%

Approval Rates

Total approvals of all applications
95.22%

Mde Home Loans 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
69.99%

Mde Home Loans 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 636 $242,620,000 $381,478

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
636 $242,620,000 $381,478

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 13 $3,475,000 $267,308 $5,538 2.41%
40-60% 62 $19,780,000 $319,032 $4,662 2.47%
60-80% 290 $111,880,000 $385,793 $5,603 2.75%
80-100% 265 $104,155,000 $393,038 $7,709 2.81%
Over 100% 6 $3,330,000 $555,000 $20,879 2.94%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MDE Home Loans, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 100.0%