Meyer Mortgage Corporation Rates, Fees & Info
Bowling Green, KYLEI: 549300W4KKZTLI8BPX61
Tax ID: 61-1145356
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Mortgage Data
Review & Overview
Meyer Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Their top two markets are Bowling Green and Glasgow .Meyer Mortgage Corporation 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. They typically have about average rates.
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Originations
29Origination Dollar Volume (All Markets)
$5,125,000Top 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 |
---|---|---|---|---|---|
BOWLING GREEN, KY (FHA|USDA|VA) | 25 | $4,515,000 | $180,600 | $0 | 4.21% |
Outside of Metro Areas | 2 | $350,000 | $175,000 | $0 | 4.31% |
Glasgow, KY (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 4.13% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
FHA | 29 | $5,125,000 | $176,724 | $0 | 4.21% |
For 2019, Meyer Mortgage Corporation's most frequently originated type of loan was FHA, with 29 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 27 | $4,665,000 | $172,778 | $0 | 4.25% |
Refi | 2 | $460,000 | $230,000 | $0 | 3.69% |
For 2019, Meyer Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 29 | $5,125,000 | $176,724 | $0 | 4.21% |
For 2019, Meyer Mortgage Corporation's most frequently cited loan duration was 30 Year, with 29 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 14 | $2,390,000 | $170,714 |
3-4% | 12 | $2,270,000 | $189,167 |
5-6% | 3 | $465,000 | $155,000 |
During 2019, Meyer Mortgage Corporation's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 14 originations.
Loan Sizing
2019 saw Meyer Mortgage Corporation place emphasis on $100k-200k loans with 21 originations, totaling $3,505,000 in origination value.
Applicant Income
Meyer Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $50k or less, with 8 originations.
Applicant Debt to Income Ratio
Meyer Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 4 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 29 | $5,125,000 | $176,724 | $0 | 4.21% |
Approval Rates
Total approvals of all applications79.63%
Meyer Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination51.72%
Meyer Mortgage Corporation 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 | 29 | $5,125,000 | $176,724 |