Mortgage Center L.c Rates, Fees & Info
PLYMOUTH, MILEI: 549300X4P2GHQNMZGO79
Tax ID: 38-3358941
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Mortgage Data
Review & Overview
Mortgage Center L.c is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Mortgage Center L.c 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.) Their top markets by origination volume include: Detroit, Kalamazoo, Lansing, Grand Rapids, and Battle Creek among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Center L.c 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. Mortgage Center L.c is typically a low 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 | 6.46% | 12/16/24 |
| 30 Year Conventional Refi | 6.18% | 12/16/24 |
| 30 Year Cash-out Refi | 6.43% | 12/16/24 |
| 30 Year FHA Purchase | 7.40% | 12/16/24 |
| 30 Year FHA Refi | 7.17% | 12/16/24 |
| 30 Year VA Purchase | 6.58% | 12/16/24 |
| 15 Year Conventional Purchase | 5.76% | 12/16/24 |
| 15 Year Conventional Refi | 5.80% | 12/16/24 |
| 15 Year Cash-out Refi | 5.80% | 12/16/24 |
| 15 Year FHA Refi | 6.14% | 12/16/24 |
| 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 Center L.c Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,698Origination Dollar Volume (All Markets)
$393,930,000Awards
MORTGAGE CENTER L.C - 2022
MORTGAGE CENTER L.C is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1,140 | $161,080,000 | $141,298 | $2,570 | 4.58% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 287 | $39,585,000 | $137,927 | $2,428 | 4.39% |
| Outside of Metro Areas | 232 | $36,890,000 | $159,009 | $3,068 | 4.57% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 193 | $26,965,000 | $139,715 | $2,529 | 4.40% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 85 | $16,515,000 | $194,294 | $2,431 | 4.24% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 116 | $14,410,000 | $124,224 | $2,626 | 4.73% |
| Holland, MI (FHA|USDA|VA) | 81 | $10,675,000 | $131,790 | $2,034 | 4.28% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 83 | $9,845,000 | $118,614 | $5,780 | 4.57% |
| Whitewater, WI (FHA|USDA|VA) | 45 | $9,705,000 | $215,667 | $2,498 | 4.29% |
| ANN ARBOR, MI (FHA|USDA|VA) | 45 | $9,135,000 | $203,000 | $2,917 | 3.99% |
| MONROE, MI (FHA|USDA|VA) | 36 | $6,520,000 | $181,111 | $3,580 | 4.73% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 42 | $5,920,000 | $140,952 | $2,299 | 4.86% |
| JACKSON, MI (FHA|USDA|VA) | 36 | $4,610,000 | $128,056 | $2,879 | 5.27% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 28 | $3,590,000 | $128,214 | $4,242 | 4.18% |
| Mount Pleasant, MI (FHA|USDA|VA) | 21 | $3,365,000 | $160,238 | $2,690 | 4.31% |
| ROCKFORD, IL (FHA|USDA|VA) | 24 | $2,880,000 | $120,000 | $2,415 | 4.21% |
| Adrian, MI (FHA|USDA|VA) | 18 | $2,830,000 | $157,222 | $2,836 | 4.71% |
| Traverse City, MI (FHA|USDA|VA) | 12 | $2,640,000 | $220,000 | $4,082 | 4.59% |
| MUSKEGON, MI (FHA|USDA|VA) | 17 | $2,605,000 | $153,235 | $2,831 | 4.43% |
| FLINT, MI (FHA|USDA|VA) | 13 | $2,355,000 | $181,154 | $2,824 | 4.16% |
| Coldwater, MI (FHA|USDA|VA) | 16 | $2,010,000 | $125,625 | $3,009 | 4.69% |
| Alma, MI (FHA|USDA|VA) | 11 | $1,685,000 | $153,182 | $3,457 | 4.53% |
| AKRON, OH (FHA|USDA|VA) | 15 | $1,645,000 | $109,667 | $3,199 | 5.62% |
| TOLEDO, OH (FHA|USDA|VA) | 14 | $1,290,000 | $92,143 | $3,146 | 5.00% |
| SAGINAW, MI (FHA|USDA|VA) | 8 | $1,070,000 | $133,750 | $2,878 | 4.73% |
| Cadillac, MI (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $2,960 | 4.93% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $3,906 | 4.21% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,169 | 5.79% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $3,712 | 4.67% |
| Sturgis, MI (FHA|USDA|VA) | 7 | $745,000 | $106,429 | $2,659 | 5.29% |
| MADISON, WI (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $2,715 | 3.71% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $5,554 | 4.88% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,160 | 3.19% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,892 | 3.75% |
| NILES, MI (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $1,863 | 3.42% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,498 | 5.33% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $3,288 | 4.97% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $5,977 | 4.88% |
| MIDLAND, MI (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $2,742 | 3.88% |
| RACINE, WI (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,453 | 3.19% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,420 | 6.00% |
| Alpena, MI (FHA|USDA|VA) | 4 | $330,000 | $82,500 | $2,022 | 4.72% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,199 | 6.38% |
| BAY CITY, MI (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $1,776 | 3.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,839 | 5.69% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,149 | 5.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,138 | 4.88% |
| Rochelle, IL (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $5,083 | 4.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,508 | 4.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,939 | 3.75% |
| Key West, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,154 | 2.50% |
| Shawano, WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,492 | 5.75% |
| Lake City, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,087 | 4.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,875 | 3.13% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,124 | 5.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,852 | 2.63% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,680 | 3.50% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,404 | 5.25% |
| Houghton, MI (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,417 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,658 | 5.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,066 | 3.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,822 | 3.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,224 | 4.00% |
| Freeport, IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,943 | 6.88% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2,596 | $376,460,000 | $145,015 | $2,590 | 4.51% |
| FHA | 92 | $14,920,000 | $162,174 | $6,916 | 5.02% |
| VA | 10 | $2,550,000 | $255,000 | $7,734 | 4.75% |
For 2022, Mortgage Center L.c's most frequently originated type of loan was Conventional, with 2,596 originations. Their 2nd most popular type was FHA, with 92 originations.
Loan Reason
For 2022, Mortgage Center L.c's most frequently cited loan purpose was Cash Out Refi, with 926 originations. The 2nd most popular reason was Home Purchase, with 814 originations.
Loan Duration/Length
For 2022, Mortgage Center L.c's most frequently cited loan duration was 30 Year, with 1,626 originations. The 2nd most popular length was 15 Year, with 705 originations.
Origination Fees/Closing Costs
Mortgage Center L.c's average total fees were $3,365, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,556 originations.
Interest Rates
During 2022, Mortgage Center L.c's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 3-4%, with 884 originations.
Loan Sizing
2022 saw Mortgage Center L.c place emphasis on $100k-200k loans with 1,106 originations, totaling $158,140,000 in origination value.
Applicant Income
Mortgage Center L.c lent most frequently to those with incomes in the $50k-75k range, with 806 originations. The second most popular income band? $50k or less, with 582 originations.
Applicant Debt to Income Ratio
Mortgage Center L.c lent most frequently to those with DTI ratios of 20-30%, with 659 originations. The next most common DTI ratio? 30-36%, with 520 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.40%
Mortgage Center L.c has an average approval rate.
Pick Rate
Approvals leading to origination79.76%
Mortgage Center L.c has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,698 | $393,930,000 | $146,008 |
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% |