Mortgage Lending Group Rates, Fees & Info
LYNNWOOD, WALEI: 549300WB418SBFX6YI35
Tax ID: 46-4474238
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Mortgage Data
Review & Overview
Mortgage Lending Group is a smaller mortgage company specializing in Home Purchase loans. Mortgage Lending Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Seattle, Spokane, Ellensburg, Wenatchee, and Olympia among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Lending Group has an above average approval rate when compared to the average across all lenders. Mortgage Lending Group 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.58% | 10/29/24 |
| 30 Year Conventional Refi | 6.56% | 10/29/24 |
| 30 Year Cash-out Refi | 6.58% | 10/29/24 |
| 30 Year FHA Purchase | 7.27% | 10/29/24 |
| 30 Year VA Purchase | 6.32% | 10/29/24 |
| 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. | ||
Mortgage Lending Group Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
25Origination Dollar Volume (All Markets)
$13,475,000Relative Rate
Mortgage Lending Group's average 30 year fixed mortgage rate was
6.61%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.13%.
Relative Fees (Closing Costs)
Mortgage Lending Group's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,455.
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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 16 | $9,620,000 | $601,250 | $11,219 | 6.40% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $12,117 | 7.00% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $11,122 | 8.63% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $15,206 | 5.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,484 | 6.75% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $12,612 | 7.13% |
| Centralia, WA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $16,166 | 6.75% |
| Outside of Metro Areas | 1 | $185,000 | $185,000 | $9,931 | 6.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE LENDING GROUP 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 | 23 | $12,585,000 | $547,174 | $11,003 | 6.64% |
| FHA | 2 | $890,000 | $445,000 | $16,660 | 6.31% |
For 2023, Mortgage Lending Group's most frequently originated type of loan was Conventional, with 23 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 25 | $13,475,000 | $539,000 | $11,455 | 6.61% |
For 2023, Mortgage Lending Group's most frequently cited loan purpose was Home Purchase, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 25 | $13,475,000 | $539,000 | $11,455 | 6.61% |
For 2023, Mortgage Lending Group's most frequently cited loan duration was 30 Year, with 25 originations.
Origination Fees/Closing Costs
Mortgage Lending Group's average total fees were $11,455, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 11 | $5,655,000 | $514,091 |
| 5-6% | 9 | $5,325,000 | $591,667 |
| 7-8% | 4 | $1,830,000 | $457,500 |
| Over 8% | 1 | $665,000 | $665,000 |
During 2023, Mortgage Lending Group's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was 6-7%, with 11 originations.
Loan Sizing
2023 saw Mortgage Lending Group place emphasis on $400k-600k loans with 12 originations, totaling $5,580,000 in origination value.
Applicant Income
Mortgage Lending Group lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $250k+, with 5 originations.
Applicant Debt to Income Ratio
Mortgage Lending Group lent most frequently to those with DTI ratios of 44%, with 4 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Mortgage Lending Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $13,475,000 | $539,000 |