Get A Rate Mortgage Rates, Fees & Info
Hackensack, NJLEI: 549300YTNLQPR4PKXG57
Tax ID: 45-4595995
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Get A Rate is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Get A Rate has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include New York, Philadelphia, Riverside, Los Angeles, and Miami among others. Get A Rate has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Get A Rate is typically an average fee lendor.Originations
1,141Origination Dollar Volume (All Markets)
$398,475,000Relative Rate
Get A Rate 's average 30 year fixed rate mortgage of loans were
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.19%.
Relative Fees
Get A Rate 's average total fees for a 30 year fixed rate
mortgage are $5,356.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 854 | $306,690,000 | $359,122 | $4,976 | 2.86% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 59 | $16,975,000 | $287,712 | $4,065 | 2.82% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 47 | $14,745,000 | $313,723 | $6,312 | 2.92% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 24 | $9,300,000 | $387,500 | $5,049 | 2.93% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 15 | $5,875,000 | $391,667 | $5,409 | 2.86% |
TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 16 | $5,220,000 | $326,250 | $4,265 | 2.54% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 16 | $5,170,000 | $323,125 | $5,866 | 3.05% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 11 | $3,205,000 | $291,364 | $7,847 | 3.42% |
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 11 | $3,065,000 | $278,636 | $3,761 | 2.86% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $2,780,000 | $347,500 | $7,505 | 3.05% |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 10 | $2,250,000 | $225,000 | $3,669 | 2.80% |
OCEAN CITY, NJ (FHA|USDA|VA) | 8 | $2,240,000 | $280,000 | $3,916 | 2.69% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $6,108 | 3.25% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $2,000,000 | $500,000 | $6,380 | 2.88% |
JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $6,760 | 2.69% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,635,000 | $545,000 | $2,418 | 2.83% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $4,239 | 3.02% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $4,125 | 2.75% |
GAINESVILLE, GA (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $3,814 | 3.37% |
Outside of Metro Areas | 2 | $770,000 | $385,000 | $6,956 | 2.50% |
Key West, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $6,735 | 2.63% |
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,088 | 3.00% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $7,351 | 3.63% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,383 | 2.99% |
NAPA, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,119 | 2.75% |
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,118 | 2.88% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $7,225 | 2.63% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,054 | 2.63% |
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,823 | 2.88% |
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,251 | 3.12% |
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,078 | 2.50% |
PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,683 | 3.50% |
PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,781 | 3.38% |
VALLEJO, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,424 | 2.88% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,782 | 2.88% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,598 | 2.50% |
EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,718 | 2.63% |
SAVANNAH, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,748 | 2.99% |
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.99% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,799 | 2.63% |
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,201 | 3.50% |
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,359 | 2.63% |
Cornelia, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,501 | 3.00% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,398 | 2.62% |
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,849 | 2.75% |
OCALA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,948 | 2.63% |
Get A Rate 's top markets include New York, Philadelphia, Riverside, Los Angeles, and Miami among others.
Product Mix
Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Conventional | 1,010 | $347,870,000 | $344,426 | $4,233 | 2.87% |
FHA | 105 | $40,135,000 | $382,238 | $11,635 | 2.85% |
VA | 26 | $10,470,000 | $402,692 | $7,151 | 2.64% |
For the 2021 period, Get A Rate 's most frequently originated loan type of loans were Conventional, with 1,010 originations. Their 2nd most popular type is FHA, with 105 originations.
Loan Reason
Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Refi | 509 | $170,015,000 | $334,018 | $3,808 | 2.71% |
Home Purchase | 330 | $128,810,000 | $390,333 | $7,147 | 3.02% |
Cash Out Refi | 302 | $99,650,000 | $329,967 | $4,634 | 2.96% |
For the 2021, Get A Rate 's most frequently cited loan purpose of loans were Refi, with 509 originations. The 2nd most popular reason of loans were Home Purchase, with 330 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 903 | $326,035,000 | $361,058 | $5,356 | 2.96% |
15 Year | 123 | $37,175,000 | $302,236 | $3,693 | 2.36% |
20 Year | 75 | $23,075,000 | $307,667 | $3,580 | 2.69% |
10 Year | 20 | $5,160,000 | $258,000 | $2,769 | 2.20% |
Other | 20 | $7,030,000 | $351,500 | $4,349 | 2.88% |
For the 2021, Get A Rate 's most frequently cited loan length of loans were 30 Year, with 903 originations. The 2nd most popular length of loans were 15 Year, with 123 originations.
Origination Fees
Origination Fee | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 663 | $237,445,000 | $358,137 |
$1k-2k | 180 | $54,870,000 | $304,833 |
$2k-3k | 109 | $36,955,000 | $339,037 |
$3k-4k | 93 | $32,135,000 | $345,538 |
$5k+ | 65 | $27,605,000 | $424,692 |
$5,356 of loans were Get A Rate 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 663 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 615 | $223,235,000 | $362,984 |
3-4% | 278 | $95,040,000 | $341,871 |
<2.5% | 236 | $77,270,000 | $327,415 |
4-5% | 12 | $2,930,000 | $244,167 |
During 2021, Get A Rate 's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 2.5-3%, with 615 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$200k-400k | 716 | $210,870,000 | $294,511 | $4,484 | 2.84% |
$400k-600k | 279 | $134,105,000 | $480,663 | $6,091 | 2.86% |
$100k-200k | 90 | $14,710,000 | $163,444 | $3,822 | 3.12% |
$600k-1MM | 55 | $38,705,000 | $703,727 | $7,818 | 2.87% |
$100,000 or less | 1 | $85,000 | $85,000 | $5,545 | 4.13% |
2021 saw Get A Rate place emphasis on $200k-400k loans with 716 originations, totaling $210,870,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100k-150k | 380 | $132,350,000 | $348,289 | $5,091 | 2.90% |
$150k-250k | 289 | $110,915,000 | $383,789 | $4,692 | 2.85% |
$75k-100k | 187 | $56,865,000 | $304,091 | $5,049 | 2.87% |
$50k-75k | 129 | $33,475,000 | $259,496 | $5,212 | 2.92% |
$250k+ | 113 | $52,815,000 | $467,389 | $4,845 | 2.71% |
$50k or less | 37 | $9,365,000 | $253,108 | $5,664 | 2.90% |
Get A Rate lent most frequently to those with incomes in the $100k-150k range, with 380 originations. The second most popular income band? $150k-250k, with 289 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30-36% | 228 | $78,000,000 | $342,105 | $4,652 | 2.85% |
20-30% | 218 | $73,380,000 | $336,606 | $4,253 | 2.79% |
<20% | 82 | $28,120,000 | $342,927 | $3,282 | 2.66% |
42% | 52 | $19,670,000 | $378,269 | $5,346 | 2.98% |
37% | 50 | $17,310,000 | $346,200 | $4,141 | 2.89% |
44% | 50 | $16,330,000 | $326,600 | $4,870 | 2.98% |
40% | 42 | $15,560,000 | $370,476 | $5,305 | 2.95% |
36% | 42 | $15,990,000 | $380,714 | $4,965 | 2.94% |
46% | 42 | $14,130,000 | $336,429 | $5,844 | 2.87% |
43% | 40 | $14,070,000 | $351,750 | $4,776 | 2.96% |
50-60% | 39 | $14,585,000 | $373,974 | $10,991 | 2.78% |
41% | 39 | $13,885,000 | $356,026 | $5,339 | 2.96% |
45% | 37 | $14,615,000 | $395,000 | $5,950 | 3.02% |
49% | 36 | $11,670,000 | $324,167 | $5,970 | 2.91% |
38% | 35 | $12,755,000 | $364,429 | $5,560 | 2.90% |
47% | 35 | $12,005,000 | $343,000 | $4,993 | 3.03% |
39% | 31 | $10,775,000 | $347,581 | $4,421 | 2.83% |
48% | 29 | $9,285,000 | $320,172 | $5,200 | 3.02% |
Get A Rate lent most frequently to those with DTI ratios of 30-36%, with 228 originations. The next most common DTI ratio? 20-30%, with 218 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 687 | $236,105,000 | $343,675 | $4,662 | 2.87% |
Not provided | 250 | $86,700,000 | $346,800 | $5,713 | 2.89% |
Asian | 133 | $49,325,000 | $370,865 | $4,576 | 2.76% |
Black | 47 | $16,725,000 | $355,851 | $7,497 | 3.11% |
Asian Indian | 17 | $7,125,000 | $419,118 | $4,270 | 2.71% |
American Indian | 3 | $1,155,000 | $385,000 | $6,296 | 2.67% |
Other Asian | 1 | $545,000 | $545,000 | $3,117 | 2.88% |
Korean | 2 | $520,000 | $260,000 | $2,677 | 2.63% |
Chinese | 1 | $275,000 | $275,000 | $5,255 | 2.38% |
Approval Rates
Total approvals of all applications93.03%
Get A Rate has an average approval rate.
Pick Rate
Approvals leading to origination45.65%
Get A Rate has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 1,141 | $398,475,000 | $349,233 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
1,141 | $398,475,000 | $349,233 |
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-40% | 71 | $18,985,000 | $267,394 | $3,535 | 2.64% |
40-60% | 216 | $63,670,000 | $294,769 | $3,502 | 2.67% |
60-80% | 511 | $184,545,000 | $361,145 | $4,420 | 2.93% |
80-100% | 333 | $127,275,000 | $382,207 | $7,004 | 2.96% |
Over 100% | 2 | $870,000 | $435,000 | $16,975 | 2.88% |
Under 20% | 3 | $785,000 | $261,667 | $4,778 | 3.04% |