Get A Rate Mortgage Rates, Fees & Info
Hackensack, NJLEI: 549300YTNLQPR4PKXG57
Tax ID: 45-4595995
2021 Data | 2020 Data | 2019 Data | 2018 Data
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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)
$398,475,000Awards
GET A RATE - 2021
GET A RATE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative 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% |
