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 Cash Out Refi, Home Purchase, and Refi 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, Olympia, Oak Harbor, and Bremerton among others. We have data for 9 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 an average 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 about average 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 | 6.58% | 4/28/24 |
| 30 Year Conventional Refi | 6.56% | 4/28/24 |
| 30 Year Cash-out Refi | 6.58% | 4/28/24 |
| 30 Year FHA Purchase | 7.27% | 4/28/24 |
| 30 Year VA Purchase | 6.32% | 4/28/24 |
| 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
102Origination Dollar Volume (All Markets)
$40,400,000Awards
MORTGAGE LENDING GROUP - 2019
MORTGAGE LENDING GROUP is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 74 | $30,500,000 | $412,162 | $6,465 | 4.06% |
| Outside of Metro Areas | 12 | $4,730,000 | $394,167 | $6,036 | 3.91% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $4,449 | 4.02% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $3,372 | 4.42% |
| Oak Harbor, WA (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $10,827 | 4.13% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $9,954 | 3.69% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $17,480 | 3.88% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $16,145 | 3.13% |
| Shelton, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,245 | 3.95% |
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 | 71 | $28,035,000 | $394,859 | $5,827 | 4.09% |
| FHA | 20 | $7,930,000 | $396,500 | $7,516 | 3.90% |
| VA | 11 | $4,435,000 | $403,182 | $10,831 | 3.94% |
For 2019, Mortgage Lending Group's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was FHA, with 20 originations.
Loan Reason
For 2019, Mortgage Lending Group's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
For 2019, Mortgage Lending Group's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Mortgage Lending Group's average total fees were $6,952, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 59 | $21,045,000 | $356,695 |
| 4-5% | 40 | $17,860,000 | $446,500 |
| 5-6% | 3 | $1,495,000 | $498,333 |
During 2019, Mortgage Lending Group's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 59 originations.
Loan Sizing
2019 saw Mortgage Lending Group place emphasis on $200k-400k loans with 51 originations, totaling $16,025,000 in origination value.
Applicant Income
Mortgage Lending Group lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $75k-100k, with 27 originations.
Applicant Debt to Income Ratio
Mortgage Lending Group lent most frequently to those with DTI ratios of 30-36%, with 15 originations. The next most common DTI ratio? 20-30%, with 12 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 | 102 | $40,400,000 | $396,078 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $1,735,000 | $578,333 |
| Single Family (1-4 Units):Site-Built | 99 | $38,665,000 | $390,556 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 360 MORTGAGE GROUP LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| 360 MORTGAGE GROUP LLC | FHA mortgage | Trouble during payment process | 1 | 50.0% |