Mde Home Loans Mortgage Rates, Fees & Info
TINTON FALLS, NJLEI: 549300W20M87S246SZ26
Tax ID: 26-4221599
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Mortgage Data
Review & Overview
Mde Home Loans is a smaller mortgage company specializing in Home Purchase loans. Mde Home Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Philadelphia, Washington, Harrisburg, New York, and York among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Mde Home Loans 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. Mde Home Loans 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 relatively high 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 | 6.59% | 12/16/24 |
| 30 Year Conventional Refi | 6.83% | 12/16/24 |
| 30 Year FHA Purchase | 7.36% | 12/16/24 |
| 30 Year FHA Refi | 6.99% | 12/16/24 |
| 30 Year VA Purchase | 6.23% | 12/16/24 |
| 30 Year VA Refi | 5.85% | 12/16/24 |
| 30 Year USDA Purchase | 6.65% | 12/16/24 |
| 15 Year Conventional Purchase | 5.93% | 12/16/24 |
| 15 Year Conventional Refi | 5.99% | 12/16/24 |
| 15 Year Cash-out Refi | 5.99% | 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. | ||
Mde Home Loans Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
205Origination Dollar Volume (All Markets)
$99,915,000Relative Rate
Mde Home Loans's average 30 year fixed mortgage rate was
6.59%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.11%.
Relative Fees (Closing Costs)
Mde Home Loans's average total fees/closing costs for a 30 year fixed rate
mortgage were $13,294.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 56 | $27,950,000 | $499,107 | $12,751 | 6.46% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 26 | $16,600,000 | $638,462 | $19,042 | 6.34% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 25 | $13,145,000 | $525,800 | $13,941 | 6.84% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 15 | $8,875,000 | $591,667 | $20,666 | 6.88% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 13 | $6,975,000 | $536,538 | $14,442 | 6.82% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 22 | $6,490,000 | $295,000 | $9,211 | 6.39% |
| LANCASTER, PA (FHA|USDA|VA) | 7 | $3,165,000 | $452,143 | $12,176 | 6.84% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $2,500,000 | $625,000 | $10,040 | 5.97% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,600,000 | $400,000 | $7,340 | 6.28% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,440,000 | $720,000 | $19,232 | 6.19% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 6 | $1,370,000 | $228,333 | $8,253 | 6.54% |
| DOVER, DE (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $11,538 | 7.38% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $605 | 6.13% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $18,559 | 7.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $5,769 | 5.25% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 5.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $6,354 | 6.00% |
| Outside of Metro Areas | 2 | $520,000 | $260,000 | $12,377 | 7.63% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,317 | 5.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $13,576 | 6.50% |
| READING, PA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $7,271 | 6.50% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,850 | 6.50% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $14,272 | 7.63% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,113 | 6.63% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $15,498 | 6.50% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,196 | 6.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,703 | 6.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,754 | 7.50% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,442 | 6.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $23,226 | 5.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,431 | 7.75% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,211 | 8.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $13,711 | 7.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $10,976 | 6.63% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against MDE Home Loans 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 2023, Mde Home Loans's most frequently originated type of loan was Conventional, with 140 originations. Their 2nd most popular type was FHA, with 48 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 190 | $92,770,000 | $488,263 | $13,153 | 6.56% |
| Refi | 15 | $7,145,000 | $476,333 | $15,186 | 6.69% |
For 2023, Mde Home Loans's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Refi, with 15 originations.
Loan Duration/Length
For 2023, Mde Home Loans's most frequently cited loan duration was 30 Year, with 201 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
Mde Home Loans's average total fees were $13,294, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 114 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 123 | $60,635,000 | $492,967 |
| 7-8% | 40 | $18,100,000 | $452,500 |
| 5-6% | 36 | $18,620,000 | $517,222 |
| 4-5% | 4 | $1,740,000 | $435,000 |
| Over 8% | 2 | $820,000 | $410,000 |
During 2023, Mde Home Loans's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 6-7%, with 123 originations.
Loan Sizing
2023 saw Mde Home Loans place emphasis on $400k-600k loans with 75 originations, totaling $38,515,000 in origination value.
Applicant Income
Mde Home Loans lent most frequently to those with incomes in the $150k-250k range, with 69 originations. The second most popular income band? $100k-150k, with 64 originations.
Applicant Debt to Income Ratio
Mde Home Loans lent most frequently to those with DTI ratios of 50-60%, with 29 originations. The next most common DTI ratio? 30-36%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
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 origination44.88%
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 | 205 | $99,915,000 | $487,390 |