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 Refi, Home Purchase, and Cash Out Refi loans. Mortgage Lending Group has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Seattle, Spokane, Bremerton, Wenatchee, and San Jose among others. We have data for 11 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. They have an above average pick rate when compared to similar lenders. 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% | 12/29/24 |
| 30 Year Conventional Refi | 6.56% | 12/29/24 |
| 30 Year Cash-out Refi | 6.58% | 12/29/24 |
| 30 Year FHA Purchase | 7.27% | 12/29/24 |
| 30 Year VA Purchase | 6.32% | 12/29/24 |
| 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
127Origination Dollar Volume (All Markets)
$59,735,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 104 | $51,450,000 | $494,712 | $0 | 2.94% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 8 | $3,290,000 | $411,250 | $0 | 2.94% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $1,050,000 | $525,000 | $0 | 2.69% |
| WENATCHEE, WA (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $0 | 2.71% |
| Outside of Metro Areas | 2 | $740,000 | $370,000 | $0 | 3.04% |
| Outside of Metro Areas | 1 | $545,000 | $545,000 | $0 | 2.75% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 2.88% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 2.80% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 2.25% |
| Port Angeles, WA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 2.62% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 2.63% |
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
For 2021, Mortgage Lending Group's most frequently originated type of loan was Conventional, with 113 originations. Their 2nd most popular type was VA, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 61 | $28,195,000 | $462,213 | $0 | 2.81% |
| Home Purchase | 35 | $19,295,000 | $551,286 | $0 | 2.98% |
| Cash Out Refi | 31 | $12,245,000 | $395,000 | $0 | 3.04% |
For 2021, Mortgage Lending Group's most frequently cited loan purpose was Refi, with 61 originations. The 2nd most popular reason was Home Purchase, with 35 originations.
Loan Duration/Length
For 2021, Mortgage Lending Group's most frequently cited loan duration was 30 Year, with 111 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Mortgage Lending Group's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 34 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 75 | $35,025,000 | $467,000 |
| 3-4% | 39 | $19,085,000 | $489,359 |
| <2.5% | 13 | $5,625,000 | $432,692 |
During 2021, Mortgage Lending Group's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 2.5-3%, with 75 originations.
Loan Sizing
2021 saw Mortgage Lending Group place emphasis on $200k-400k loans with 51 originations, totaling $16,375,000 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? $150k-250k, with 25 originations.
Applicant Debt to Income Ratio
Mortgage Lending Group lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.23%
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 origination98.43%
Mortgage Lending Group has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10071.19 | 1 | $295,000 | $295,000 |
| 10149.29 | 1 | $635,000 | $635,000 |
| 11288.29 | 1 | $605,000 | $605,000 |
| 11472.11 | 1 | $375,000 | $375,000 |
| 11746.59 | 1 | $385,000 | $385,000 |
| 11751.25 | 1 | $395,000 | $395,000 |
| 12046.01 | 1 | $555,000 | $555,000 |
| 14002.95 | 1 | $485,000 | $485,000 |
| 14138.07 | 1 | $355,000 | $355,000 |
| 14435.29 | 1 | $705,000 | $705,000 |
| 16314.72 | 1 | $665,000 | $665,000 |
| 16475.35 | 1 | $295,000 | $295,000 |
| 1815.8 | 1 | $125,000 | $125,000 |
| 20062.74 | 1 | $1,225,000 | $1,225,000 |
| 20074.27 | 1 | $995,000 | $995,000 |
| 20666.15 | 1 | $805,000 | $805,000 |
| 2084.4 | 1 | $685,000 | $685,000 |
| 2163.2 | 1 | $365,000 | $365,000 |
| 2623.89 | 1 | $75,000 | $75,000 |
| 28052.74 | 1 | $1,155,000 | $1,155,000 |
| 2834.29 | 1 | $205,000 | $205,000 |
| 2849.6 | 1 | $315,000 | $315,000 |
| 28593.92 | 1 | $545,000 | $545,000 |
| 2876.09 | 1 | $345,000 | $345,000 |
| 2902.0 | 1 | $345,000 | $345,000 |
| 2913.1 | 1 | $375,000 | $375,000 |
| 2932.9 | 1 | $395,000 | $395,000 |
| 2940.48 | 1 | $765,000 | $765,000 |
| 2944.4 | 1 | $425,000 | $425,000 |
| 2948.44 | 1 | $395,000 | $395,000 |
| 3010.2 | 1 | $485,000 | $485,000 |
| 3034.1 | 1 | $495,000 | $495,000 |
| 3102.0 | 1 | $535,000 | $535,000 |
| 3187.31 | 1 | $545,000 | $545,000 |
| 3189.56 | 1 | $185,000 | $185,000 |
| 3243.4 | 1 | $715,000 | $715,000 |
| 3339.29 | 1 | $755,000 | $755,000 |
| 3342.6 | 1 | $315,000 | $315,000 |
| 3360.39 | 1 | $695,000 | $695,000 |
| 3382.42 | 1 | $265,000 | $265,000 |
| 3438.7 | 1 | $425,000 | $425,000 |
| 3468.29 | 1 | $305,000 | $305,000 |
| 3480.17 | 1 | $295,000 | $295,000 |
| 3481.08 | 1 | $385,000 | $385,000 |
| 3585.49 | 1 | $485,000 | $485,000 |
| 3596.99 | 1 | $405,000 | $405,000 |
| 3610.15 | 1 | $365,000 | $365,000 |
| 3614.4 | 1 | $645,000 | $645,000 |
| 3640.9 | 1 | $445,000 | $445,000 |
| 3658.19 | 1 | $475,000 | $475,000 |
| 3676.83 | 1 | $335,000 | $335,000 |
| 3702.95 | 1 | $545,000 | $545,000 |
| 3706.2 | 1 | $615,000 | $615,000 |
| 3719.02 | 1 | $485,000 | $485,000 |
| 3735.3 | 1 | $605,000 | $605,000 |
| 3745.39 | 1 | $205,000 | $205,000 |
| 3785.59 | 1 | $485,000 | $485,000 |
| 3890.45 | 1 | $165,000 | $165,000 |
| 3944.49 | 1 | $615,000 | $615,000 |
| 4044.62 | 1 | $365,000 | $365,000 |
| 4096.47 | 1 | $545,000 | $545,000 |
| 4102.0 | 1 | $355,000 | $355,000 |
| 4135.95 | 1 | $155,000 | $155,000 |
| 4210.8 | 1 | $195,000 | $195,000 |
| 4372.2 | 1 | $545,000 | $545,000 |
| 4383.29 | 1 | $325,000 | $325,000 |
| 4402.95 | 1 | $295,000 | $295,000 |
| 4422.26 | 1 | $485,000 | $485,000 |
| 4424.88 | 1 | $215,000 | $215,000 |
| 4517.46 | 1 | $225,000 | $225,000 |
| 4550.09 | 1 | $295,000 | $295,000 |
| 4652.69 | 1 | $335,000 | $335,000 |
| 4700.18 | 1 | $775,000 | $775,000 |
| 4761.5 | 1 | $705,000 | $705,000 |
| 4762.79 | 1 | $425,000 | $425,000 |
| 4766.5 | 1 | $445,000 | $445,000 |
| 4824.9 | 1 | $505,000 | $505,000 |
| 4845.28 | 1 | $505,000 | $505,000 |
| 4902.0 | 1 | $615,000 | $615,000 |
| 4939.89 | 1 | $535,000 | $535,000 |
| 4943.38 | 1 | $725,000 | $725,000 |
| 5099.56 | 1 | $485,000 | $485,000 |
| 5238.1 | 1 | $735,000 | $735,000 |
| 5250.11 | 1 | $435,000 | $435,000 |
| 5363.4 | 1 | $515,000 | $515,000 |
| 5383.71 | 1 | $445,000 | $445,000 |
| 5390.87 | 1 | $295,000 | $295,000 |
| 5412.66 | 1 | $775,000 | $775,000 |
| 5570.5 | 1 | $495,000 | $495,000 |
| 5597.74 | 1 | $285,000 | $285,000 |
| 5637.33 | 1 | $775,000 | $775,000 |
| 5728.46 | 1 | $135,000 | $135,000 |
| 5829.91 | 1 | $375,000 | $375,000 |
| 5929.3 | 1 | $285,000 | $285,000 |
| 5952.03 | 1 | $405,000 | $405,000 |
| 5979.33 | 1 | $775,000 | $775,000 |
| 6034.4 | 1 | $365,000 | $365,000 |
| 6055.09 | 1 | $355,000 | $355,000 |
| 6200.58 | 1 | $1,505,000 | $1,505,000 |
| 6259.94 | 1 | $445,000 | $445,000 |
| 6269.47 | 1 | $375,000 | $375,000 |
| 6306.07 | 1 | $335,000 | $335,000 |
| 6426.8 | 1 | $1,275,000 | $1,275,000 |
| 7191.39 | 1 | $575,000 | $575,000 |
| 7807.75 | 1 | $635,000 | $635,000 |
| 7983.37 | 1 | $125,000 | $125,000 |
| 8169.87 | 1 | $485,000 | $485,000 |
| 8228.9 | 1 | $515,000 | $515,000 |
| 8519.75 | 1 | $495,000 | $495,000 |
| 9070.44 | 1 | $505,000 | $505,000 |
| 9212.95 | 1 | $265,000 | $265,000 |
| 9534.23 | 1 | $385,000 | $385,000 |
| 9944.45 | 1 | $315,000 | $315,000 |
| NA | 14 | $5,430,000 | $387,857 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE INVESTORS GROUP | Other type of mortgage | Improper use of your report | 1 | 50.0% |
| MORTGAGE INVESTORS GROUP | VA mortgage | Closing on a mortgage | 1 | 50.0% |