Mms Mortgage Services Ltd. Rates, Fees & Info

FARMINGTON HILLS, MI

LEI: 549300YEC4OVVYQB2849

Tax ID: 38-2718800

5 stars - Updated: 4/5/25 - out of 5 stars, based on 16 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Mms Mortgage Services Ltd. is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Mms Mortgage Services Ltd. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Grand Rapids, Detroit, Muskegon, Ashtabula, and Alma among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mms Mortgage Services Ltd. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mms Mortgage Services Ltd. 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.

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 6.92% 4/5/25
30 Year Conventional Refi 6.77% 4/5/25
30 Year Cash-out Refi 6.76% 4/5/25
30 Year FHA Purchase 7.33% 4/5/25
30 Year FHA Refi 7.24% 4/5/25
30 Year VA Purchase 6.90% 4/5/25
30 Year VA Refi 7.24% 4/5/25
30 Year USDA Purchase 7.61% 4/5/25
15 Year Conventional Purchase 6.26% 4/5/25
15 Year Conventional Refi 6.00% 4/5/25
15 Year Cash-out Refi 6.00% 4/5/25
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.

Mms Mortgage Services Ltd. Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Mms Mortgage Services Ltd.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

258

Origination Dollar Volume (All Markets)

$52,220,000

Awards

MMS MORTGAGE SERVICES LTD. FHA Loans silver MMS MORTGAGE SERVICES LTD. FHA Loans silver MMS MORTGAGE SERVICES LTD. 30 Year Conventional Loans silver MMS MORTGAGE SERVICES LTD. 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Mms Mortgage Services Ltd.'s average 30 year fixed mortgage rate was 6.57%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.02%.

Relative Fees (Closing Costs)

Mms Mortgage Services Ltd.'s average total fees/closing costs for a 30 year fixed rate mortgage were $4,765.

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 $8,356.

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
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 89 $17,545,000 $197,135 $5,225 6.45%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 45 $10,855,000 $241,222 $4,412 6.67%
MUSKEGON, MI (FHA|USDA|VA) 36 $7,500,000 $208,333 $4,796 6.51%
Outside of Metro Areas 33 $6,645,000 $201,364 $4,551 6.64%
Ashtabula, OH (FHA|USDA|VA) 10 $1,520,000 $152,000 $4,605 6.24%
Alma, MI (FHA|USDA|VA) 12 $1,440,000 $120,000 $3,729 6.58%
Ludington, MI (FHA|USDA|VA) 2 $690,000 $345,000 $4,081 6.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 6 $680,000 $113,333 $3,321 6.21%
Big Rapids, MI (FHA|USDA|VA) 3 $595,000 $198,333 $4,981 6.12%
ANN ARBOR, MI (FHA|USDA|VA) 2 $580,000 $290,000 $3,890 6.13%
Houghton, MI (FHA|USDA|VA) 2 $500,000 $250,000 $4,404 6.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $465,000 $465,000 $5,708 6.88%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $440,000 $220,000 $8,610 6.00%
Alpena, MI (FHA|USDA|VA) 1 $395,000 $395,000 $5,726 7.62%
SAGINAW, MI (FHA|USDA|VA) 3 $335,000 $111,667 $3,538 6.71%
TOLEDO, OH (FHA|USDA|VA) 2 $320,000 $160,000 $4,039 6.56%
AKRON, OH (FHA|USDA|VA) 1 $305,000 $305,000 $2,785 6.50%
JACKSON, MI (FHA|USDA|VA) 1 $275,000 $275,000 $8,695 6.25%
NILES, MI (FHA|USDA|VA) 1 $195,000 $195,000 $5,938 6.63%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $185,000 $185,000 $2,643 6.25%
FLINT, MI (FHA|USDA|VA) 1 $185,000 $185,000 $4,753 6.63%
Mount Pleasant, MI (FHA|USDA|VA) 1 $165,000 $165,000 $6,982 6.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,231 7.63%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $155,000 $155,000 $3,218 6.88%
Burlington, IA-IL (FHA|USDA|VA) 1 $85,000 $85,000 $3,088 7.13%
Mms Mortgage Services Ltd.'s top markets include Grand Rapids, Detroit, Muskegon, Ashtabula, and Alma among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against MMS MORTGAGE SERVICES LTD. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    South Metro Federal Credit Union
    Similarity Rank: 45
    Piscataqua Savings Bank
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    Similarity Rank: 120
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    MEMBERFOCUS COMMUNITY
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    AAC Credit Union
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    GLASS CITY Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 212 $43,470,000 $205,047 $4,309 6.52%
    FHA 37 $7,065,000 $190,946 $7,375 6.48%
    VA 6 $1,080,000 $180,000 $5,518 6.85%
    USDA 3 $605,000 $201,667 $3,285 6.96%

    For 2024, Mms Mortgage Services Ltd.'s most frequently originated type of loan was Conventional, with 212 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 171 $36,325,000 $212,427 $4,720 6.56%
    Cash Out Refi 63 $10,525,000 $167,063 $4,603 6.45%
    Refi 24 $5,370,000 $223,750 $5,525 6.49%

    For 2024, Mms Mortgage Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 171 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 228 $45,980,000 $201,667 $4,765 6.57%
    15 Year 14 $1,950,000 $139,286 $3,879 6.08%
    30+ year 9 $2,855,000 $317,222 $7,104 6.40%
    20 Year 5 $995,000 $199,000 $3,561 6.47%
    10 Year 1 $115,000 $115,000 $3,642 5.63%
    5 Year 1 $325,000 $325,000 $3,591 5.50%

    For 2024, Mms Mortgage Services Ltd.'s most frequently cited loan duration was 30 Year, with 228 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 137 $26,325,000 $192,153
    $2k-3k 64 $11,580,000 $180,938
    $3k-4k 21 $5,345,000 $254,524
    $5k+ 16 $4,600,000 $287,500
    $<1k 12 $2,210,000 $184,167
    $4k-5k 8 $2,160,000 $270,000

    Mms Mortgage Services Ltd.'s average total fees were $4,765, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 137 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 185 $37,685,000 $203,703
    5-6% 45 $8,915,000 $198,111
    7-8% 26 $5,320,000 $204,615
    4-5% 1 $115,000 $115,000
    Over 8% 1 $185,000 $185,000

    During 2024, Mms Mortgage Services Ltd.'s average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 6-7%, with 185 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 108 $16,230,000 $150,278 $4,189 6.53%
    $200k-400k 100 $26,340,000 $263,400 $5,776 6.49%
    $100,000 or less 35 $2,485,000 $71,000 $3,322 6.56%
    $400k-600k 14 $6,550,000 $467,857 $5,540 6.69%
    $600k-1MM 1 $615,000 $615,000 $4,454 6.99%

    2024 saw Mms Mortgage Services Ltd. place emphasis on $100k-200k loans with 108 originations, totaling $16,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 84 $13,910,000 $165,595 $4,809 6.40%
    $50k or less 51 $6,515,000 $127,745 $4,059 6.57%
    $100k-150k 44 $11,590,000 $263,409 $4,980 6.57%
    $75k-100k 40 $7,470,000 $186,750 $4,774 6.57%
    $150k-250k 27 $8,785,000 $325,370 $5,495 6.62%
    $250k+ 12 $3,950,000 $329,167 $5,030 6.77%

    Mms Mortgage Services Ltd. lent most frequently to those with incomes in the $50k-75k range, with 84 originations. The second most popular income band? $50k or less, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 60 $12,370,000 $206,167 $4,544 6.56%
    20-30% 32 $5,550,000 $173,438 $4,307 6.64%
    40% 17 $3,535,000 $207,941 $4,616 6.49%
    42% 15 $2,445,000 $163,000 $3,935 6.48%
    47% 13 $2,835,000 $218,077 $5,550 6.64%
    38% 13 $2,795,000 $215,000 $5,002 6.59%
    45% 12 $2,460,000 $205,000 $3,944 6.30%
    <20% 10 $2,150,000 $215,000 $4,018 6.36%
    41% 10 $1,670,000 $167,000 $5,170 6.57%
    43% 10 $2,640,000 $264,000 $5,802 6.44%
    49% 10 $2,310,000 $231,000 $6,915 6.26%
    44% 9 $1,895,000 $210,556 $4,584 6.50%
    37% 8 $1,470,000 $183,750 $4,684 6.73%
    36% 8 $1,570,000 $196,250 $4,613 6.34%
    48% 8 $1,350,000 $168,750 $3,601 6.42%
    39% 8 $1,980,000 $247,500 $5,444 6.50%
    50-60% 7 $1,375,000 $196,429 $5,178 6.23%
    46% 5 $1,045,000 $209,000 $6,432 6.58%
    >60% 1 $185,000 $185,000 $8,629 9.38%

    Mms Mortgage Services Ltd. lent most frequently to those with DTI ratios of 30-36%, with 60 originations. The next most common DTI ratio? 20-30%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 237 $47,875,000 $202,004 $4,721 6.52%
    Black 12 $2,510,000 $209,167 $5,767 6.64%
    Not provided 9 $1,835,000 $203,889 $4,619 6.64%

    Approval Rates

    Total approvals of all applications
    98.01%

    Mms Mortgage Services Ltd. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.05%

    Mms Mortgage Services Ltd. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 258 $52,220,000 $202,403

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    258 $52,220,000 $202,403

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,645,000 $125,952 $3,318 6.36%
    40-60% 29 $4,535,000 $156,379 $4,232 6.39%
    60-80% 91 $19,935,000 $219,066 $5,224 6.52%
    80-100% 114 $24,660,000 $216,316 $4,823 6.60%
    Over 100% 2 $360,000 $180,000 $4,110 6.63%
    Under 20% 1 $85,000 $85,000 $3,982 6.50%