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. Meyer Mortgage Corporation has a high proportion of conventional loans. Their top (well, only) market is Bowling Green.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
3Origination Dollar Volume (All Markets)
$475,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 2 | $320,000 | $160,000 | $0 | 2.94% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 2.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3 | $475,000 | $158,333 | $0 | 2.88% |
For 2020, Meyer Mortgage Corporation's most frequently originated type of loan was Conventional, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 3 | $475,000 | $158,333 | $0 | 2.88% |
For 2020, Meyer Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3 | $475,000 | $158,333 | $0 | 2.88% |
For 2020, Meyer Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 2 | $320,000 | $160,000 |
| 3-4% | 1 | $155,000 | $155,000 |
During 2020, Meyer Mortgage Corporation's average interest rate for loans was 2.88%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 3 | $475,000 | $158,333 | $0 | 2.88% |
2020 saw Meyer Mortgage Corporation place emphasis on $100k-200k loans with 3 originations, totaling $475,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 1 | $155,000 | $155,000 | $0 | 3.25% |
| $50k or less | 1 | $165,000 | $165,000 | $0 | 2.63% |
| $75k-100k | 1 | $155,000 | $155,000 | $0 | 2.75% |
Meyer Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1 originations. The second most popular income band? $50k or less, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1 | $165,000 | $165,000 | $0 | 2.63% |
| 41% | 1 | $155,000 | $155,000 | $0 | 3.25% |
| 45% | 1 | $155,000 | $155,000 | $0 | 2.75% |
Meyer Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 1 originations. The next most common DTI ratio? 41%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3 | $475,000 | $158,333 | $0 | 2.88% |
Approval Rates
Total approvals of all applications82.46%
Meyer Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination-1,366.67%
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 | 3 | $475,000 | $158,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 3 | $475,000 | $158,333 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MARINER FINANCE, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 50.0% |
| MARINER FINANCE, LLC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |