Get A Rate Mortgage Rates, Fees & Info
Hackensack, NJLEI: 549300YTNLQPR4PKXG57
Tax ID: 45-4595995
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Mortgage Data
Review & Overview
Get A Rate is a smaller mortgage company specializing in Home Purchase loans. Get A Rate has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Miami, Tampa, Philadelphia, and Orlando among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Get A Rate 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. Get A Rate is typically an average 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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Originations
393Origination Dollar Volume (All Markets)
$125,525,000Awards
GET A RATE - 2018
GET A RATE is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 306 | $101,720,000 | $332,418 | $6,423 | 4.56% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 13 | $3,995,000 | $307,308 | $4,613 | 4.47% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 14 | $3,980,000 | $284,286 | $4,682 | 4.31% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 14 | $3,800,000 | $271,429 | $4,675 | 4.34% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 10 | $2,870,000 | $287,000 | $4,626 | 4.33% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,840,000 | $306,667 | $5,005 | 4.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $5,411 | 4.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $5,648 | 4.58% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $6,805 | 4.44% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $3,696 | 4.38% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,673 | 4.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,337 | 5.56% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $5,324 | 4.75% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,149 | 4.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,041 | 3.75% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,788 | 4.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,953 | 3.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,803 | 4.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,272 | 4.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,433 | 5.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,979 | 4.50% |
| Torrington, CT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,200 | 4.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,476 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,871 | 4.25% |
| Outside of Metro Areas | 2 | $30,000 | $15,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against GET A RATE 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 | 305 | $97,765,000 | $320,541 | $4,691 | 4.50% |
| FHA | 77 | $23,115,000 | $300,195 | $9,734 | 4.66% |
| VA | 11 | $4,645,000 | $422,273 | $11,439 | 4.07% |
For 2018, Get A Rate's most frequently originated type of loan was Conventional, with 305 originations. Their 2nd most popular type was FHA, with 77 originations.
Loan Reason
For 2018, Get A Rate's most frequently cited loan purpose was Home Purchase, with 331 originations. The 2nd most popular reason was Refi, with 34 originations.
Loan Duration/Length
For 2018, Get A Rate's most frequently cited loan duration was 30 Year, with 363 originations. The 2nd most popular length was 15 Year, with 18 originations.
Origination Fees/Closing Costs
Get A Rate's average total fees were $6,074, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 248 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 286 | $94,400,000 | $330,070 |
| 3-4% | 60 | $19,280,000 | $321,333 |
| 5-6% | 40 | $10,580,000 | $264,500 |
| 2.5-3% | 3 | $1,105,000 | $368,333 |
| 6-7% | 1 | $125,000 | $125,000 |
During 2018, Get A Rate's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 4-5%, with 286 originations.
Loan Sizing
2018 saw Get A Rate place emphasis on $200k-400k loans with 245 originations, totaling $74,085,000 in origination value.
Applicant Income
Get A Rate lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $75k-100k, with 91 originations.
Applicant Debt to Income Ratio
Get A Rate lent most frequently to those with DTI ratios of 30-36%, with 67 originations. The next most common DTI ratio? 20-30%, with 59 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.13%
Get A Rate has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination26.97%
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 | 393 | $125,525,000 | $319,402 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 393 | $125,525,000 | $319,402 |