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, Oak Harbor, Spokane, Wenatchee, and Olympia 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. 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 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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This is not an official calculator from Mortgage Lending Group. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
60Origination Dollar Volume (All Markets)
$28,460,000Top 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) | 42 | $21,600,000 | $514,286 | $11,151 | 4.56% |
| Oak Harbor, WA (FHA|USDA|VA) | 2 | $1,420,000 | $710,000 | $6,288 | 4.50% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $7,496 | 5.31% |
| WENATCHEE, WA (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $4,925 | 4.84% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $7,934 | 4.44% |
| Centralia, WA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $5,784 | 5.63% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $11,616 | 4.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $15,957 | 3.50% |
| Outside of Metro Areas | 1 | $325,000 | $325,000 | $4,452 | 4.45% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,482 | 2.88% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,541 | 6.00% |
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 | 48 | $22,340,000 | $465,417 | $8,830 | 4.58% |
| FHA | 10 | $5,210,000 | $521,000 | $16,257 | 4.72% |
| VA | 2 | $910,000 | $455,000 | $5,449 | 5.06% |
For 2022, Mortgage Lending Group's most frequently originated type of loan was Conventional, with 48 originations. Their 2nd most popular type was FHA, with 10 originations.
Loan Reason
For 2022, Mortgage Lending Group's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 60 | $28,460,000 | $474,333 | $9,955 | 4.62% |
For 2022, Mortgage Lending Group's most frequently cited loan duration was 30 Year, with 60 originations.
Origination Fees/Closing Costs
Mortgage Lending Group's average total fees were $9,955, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 24 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 19 | $10,175,000 | $535,526 |
| 3-4% | 18 | $8,560,000 | $475,556 |
| 5-6% | 17 | $7,685,000 | $452,059 |
| 6-7% | 4 | $1,360,000 | $340,000 |
| 2.5-3% | 2 | $680,000 | $340,000 |
During 2022, Mortgage Lending Group's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.
Loan Sizing
2022 saw Mortgage Lending Group place emphasis on $200k-400k loans with 22 originations, totaling $6,930,000 in origination value.
Applicant Income
Mortgage Lending Group lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $75k-100k, with 14 originations.
Applicant Debt to Income Ratio
Mortgage Lending Group lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 50-60%, with 8 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 origination95.00%
Mortgage Lending Group has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 60 | $28,460,000 | $474,333 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Mortgage Research Center, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Mortgage Research Center, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |