Merchants Mortgage & Trust Corporation Rates, Fees & Info
Greenwood Village, COLEI: 549300YX5RPSSMR88K92
Tax ID: 84-1296387
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Mortgage Data
Review & Overview
Merchants Mortgage & Trust Corporation is a smaller mortgage company specializing in Home Purchase loans. Merchants Mortgage & Trust Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Denver, Seattle, Phoenix, and Portland among others. We have data for 92 markets. (Some data included below & more in-depth data is available with an active subscription.)Merchants Mortgage & Trust Corporation 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. They typically have relatively high 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 | 6.27% | 4/21/24 |
| 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. | ||
Merchants Mortgage & Trust Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Merchants Mortgage & Trust Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,094Origination Dollar Volume (All Markets)
$582,870,000Relative Rate
Merchants Mortgage & Trust Corporation's average 30 year fixed mortgage rate was
8.03%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.55%.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 181 | $170,705,000 | $943,122 | $0 | 10.28% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 225 | $116,255,000 | $516,689 | $0 | 10.42% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 91 | $52,295,000 | $574,670 | $0 | 10.70% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 68 | $41,730,000 | $613,676 | $0 | 10.87% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 60 | $27,040,000 | $450,667 | $0 | 10.48% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 24 | $24,340,000 | $1,014,167 | $0 | 10.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 55 | $23,805,000 | $432,818 | $0 | 10.14% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 53 | $19,925,000 | $375,943 | $0 | 10.25% |
| BOULDER, CO (FHA|USDA|VA) | 17 | $13,675,000 | $804,412 | $0 | 11.16% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 55 | $9,765,000 | $177,545 | $0 | 10.85% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 8 | $6,770,000 | $846,250 | $0 | 10.69% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 5 | $4,855,000 | $971,000 | $0 | 10.35% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 10 | $4,430,000 | $443,000 | $0 | 10.58% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $3,880,000 | $970,000 | $0 | 9.81% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $3,305,000 | $661,000 | $0 | 10.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 17 | $3,225,000 | $189,706 | $0 | 10.99% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 11 | $3,045,000 | $276,818 | $0 | 10.11% |
| GREELEY, CO (FHA|USDA|VA) | 9 | $2,785,000 | $309,444 | $0 | 10.28% |
| SALEM, OR (FHA|USDA|VA) | 9 | $2,755,000 | $306,111 | $0 | 10.58% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 7 | $2,745,000 | $392,143 | $0 | 10.39% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $2,445,000 | $815,000 | $0 | 10.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $2,280,000 | $285,000 | $0 | 10.86% |
| NAPA, CA (FHA|USDA|VA) | 2 | $2,050,000 | $1,025,000 | $0 | 10.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,835,000 | $367,000 | $0 | 10.70% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $1,800,000 | $450,000 | $0 | 10.69% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 9 | $1,715,000 | $190,556 | $0 | 10.44% |
| FORT COLLINS, CO (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $0 | 9.80% |
| STOCKTON, CA (FHA|USDA|VA) | 5 | $1,485,000 | $297,000 | $0 | 10.15% |
| Outside of Metro Areas | 5 | $1,385,000 | $277,000 | $0 | 11.65% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $1,370,000 | $171,250 | $0 | 10.81% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $1,225,000 | $408,333 | $0 | 10.25% |
| BEND, OR (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $0 | 10.75% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $0 | 9.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 9.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $0 | 11.05% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $0 | 10.00% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 9.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 11.50% |
| Hilo, HI (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 11.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 9 | $675,000 | $75,000 | $0 | 11.33% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $0 | 10.75% |
| MONTGOMERY, AL (FHA|USDA|VA) | 5 | $665,000 | $133,000 | $0 | 11.10% |
| PUEBLO, CO (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $0 | 11.45% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $0 | 11.20% |
| MODESTO, CA (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $0 | 10.33% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 5 | $635,000 | $127,000 | $0 | 10.60% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $0 | 10.67% |
| REDDING, CA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 10.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $0 | 10.38% |
| LONGVIEW, WA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 11.25% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 10.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $0 | 10.50% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 10.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $0 | 10.67% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 10.13% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $0 | 10.50% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 11.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $0 | 11.00% |
| YUBA CITY, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 9.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 10.38% |
| Sonora, CA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 10.63% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 10.38% |
| OCALA, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 11.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 10.75% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 10.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 10.50% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 10.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 13.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 10.50% |
| Payson, AZ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 13.00% |
| Sterling, CO (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 11.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 10.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 10.75% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 10.50% |
| MERCED, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 11.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 10.50% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 10.25% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 11.00% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 12.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 11.75% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 11.00% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 12.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 12.50% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 9.75% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 12.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 10.50% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 10.50% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 10.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 12.00% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 12.50% |
| Logansport, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 10.50% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 11.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,092 | $581,690,000 | $532,683 | $0 | 10.52% |
| HELOC | 2 | $1,180,000 | $590,000 | n/a | 10.00% |
For 2023, Merchants Mortgage & Trust Corporation's most frequently originated type of loan was Conventional, with 1,092 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2023, Merchants Mortgage & Trust Corporation's most frequently cited loan purpose was Home Purchase, with 1,017 originations. The 2nd most popular reason was Refi, with 68 originations.
Loan Duration/Length
For 2023, Merchants Mortgage & Trust Corporation's most frequently cited loan duration was 1 Year, with 1,027 originations. The 2nd most popular length was Other, with 59 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1,091 | $581,955,000 | $533,414 |
| 7-8% | 3 | $915,000 | $305,000 |
During 2023, Merchants Mortgage & Trust Corporation's average interest rate for loans was 8.03%, while their most frequently originated rate bucket for loans was Over 8%, with 1,091 originations.
Loan Sizing
2023 saw Merchants Mortgage & Trust Corporation place emphasis on $200k-400k loans with 369 originations, totaling $110,955,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1,092 | $582,380,000 | $533,315 | $0 | 10.52% |
| 20-30% | 1 | $285,000 | $285,000 | $0 | 12.00% |
| 44% | 1 | $205,000 | $205,000 | $0 | 10.50% |
Ethnicity Mix
Approval Rates
Total approvals of all applications99.83%
Merchants Mortgage & Trust Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.95%
Merchants Mortgage & Trust Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $285,000 | $285,000 |
| 10605.0 | 1 | $515,000 | $515,000 |
| 11380.0 | 1 | $875,000 | $875,000 |
| 8370.0 | 1 | $525,000 | $525,000 |
| 8829.0 | 1 | $465,000 | $465,000 |
| NA | 1,089 | $580,205,000 | $532,787 |