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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Denver, Phoenix, Seattle, and Riverside among others. We have data for 63 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 an above 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% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,258Origination Dollar Volume (All Markets)
$646,610,000Top 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) | 203 | $154,235,000 | $759,778 | $0 | 9.18% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 262 | $130,270,000 | $497,214 | $0 | 9.51% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 175 | $89,905,000 | $513,743 | $0 | 9.46% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 68 | $43,450,000 | $638,971 | $0 | 9.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 92 | $37,680,000 | $409,565 | $0 | 9.43% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 66 | $32,360,000 | $490,303 | $0 | 9.45% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 70 | $29,280,000 | $418,286 | $0 | 9.93% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 20 | $16,630,000 | $831,500 | $0 | 9.51% |
| BOULDER, CO (FHA|USDA|VA) | 15 | $15,105,000 | $1,007,000 | $0 | 9.27% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 31 | $11,125,000 | $358,871 | $0 | 9.98% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 65 | $10,025,000 | $154,231 | $0 | 9.98% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 17 | $8,305,000 | $488,529 | $0 | 10.12% |
| STOCKTON, CA (FHA|USDA|VA) | 23 | $8,105,000 | $352,391 | $0 | 9.68% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 12 | $7,930,000 | $660,833 | $0 | 9.74% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 5 | $4,865,000 | $973,000 | $0 | 10.05% |
| VALLEJO, CA (FHA|USDA|VA) | 9 | $3,855,000 | $428,333 | $0 | 9.91% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 4 | $3,300,000 | $825,000 | $0 | 8.74% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 14 | $3,110,000 | $222,143 | $0 | 10.43% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 4 | $2,470,000 | $617,500 | $0 | 9.56% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 7 | $2,045,000 | $292,143 | $0 | 10.43% |
| Outside of Metro Areas | 5 | $1,955,000 | $391,000 | $0 | 10.70% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $1,945,000 | $648,333 | $0 | 9.58% |
| GREELEY, CO (FHA|USDA|VA) | 6 | $1,800,000 | $300,000 | $0 | 10.04% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $1,780,000 | $890,000 | $0 | 10.25% |
| PUEBLO, CO (FHA|USDA|VA) | 9 | $1,525,000 | $169,444 | $0 | 10.03% |
| Heber, UT (FHA|USDA|VA) | 1 | $1,485,000 | $1,485,000 | $0 | 9.50% |
| Astoria, OR (FHA|USDA|VA) | 3 | $1,395,000 | $465,000 | $0 | 9.75% |
| CHICO, CA (FHA|USDA|VA) | 2 | $1,300,000 | $650,000 | $0 | 9.50% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 5 | $1,175,000 | $235,000 | $0 | 10.20% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $0 | 10.17% |
| MODESTO, CA (FHA|USDA|VA) | 5 | $1,135,000 | $227,000 | $0 | 10.05% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $0 | 9.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $0 | 9.99% |
| SALEM, OR (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $0 | 9.25% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $0 | 9.33% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $0 | 10.19% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $0 | 9.25% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $0 | 10.25% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 8.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 12.00% |
| Centralia, WA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 9.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $0 | 10.67% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 10.38% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 10.50% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 9.88% |
| Granbury, TX (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 9.00% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 7.50% |
| MERCED, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 9.37% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 10.00% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 10.50% |
| REDDING, CA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 9.37% |
| NAPA, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 8.25% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 8.50% |
| Shelton, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 9.00% |
| BEND, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 10.25% |
| Payson, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 10.50% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 10.00% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 12.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 10.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 10.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 7.99% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 10.00% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 9.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,256 | $645,960,000 | $514,299 | $0 | 9.53% |
| FHA | 2 | $650,000 | $325,000 | $0 | 12.13% |
For 2022, Merchants Mortgage & Trust Corporation's most frequently originated type of loan was Conventional, with 1,256 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2022, Merchants Mortgage & Trust Corporation's most frequently cited loan purpose was Home Purchase, with 1,202 originations. The 2nd most popular reason was Refi, with 47 originations.
Loan Duration/Length
For 2022, Merchants Mortgage & Trust Corporation's most frequently cited loan duration was 1 Year, with 1,209 originations. The 2nd most popular length was Other, with 45 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1,068 | $521,650,000 | $488,436 |
| 7-8% | 174 | $114,400,000 | $657,471 |
| 6-7% | 16 | $10,560,000 | $660,000 |
During 2022, Merchants Mortgage & Trust Corporation's average interest rate for loans was 10.50%, while their most frequently originated rate bucket for loans was Over 8%, with 1,068 originations.
Loan Sizing
2022 saw Merchants Mortgage & Trust Corporation place emphasis on $200k-400k loans with 437 originations, totaling $134,295,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1,255 | $645,385,000 | $514,251 | $0 | 9.53% |
| 50-60% | 2 | $900,000 | $450,000 | $0 | 9.63% |
| 20-30% | 1 | $325,000 | $325,000 | $0 | 10.50% |
Ethnicity Mix
Approval Rates
Total approvals of all applications99.93%
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 origination91.10%
Merchants Mortgage & Trust Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2262.6 | 1 | $185,000 | $185,000 |
| 2686.5 | 1 | $225,000 | $225,000 |
| 405.0 | 4 | $800,000 | $200,000 |
| 9572.85 | 1 | $865,000 | $865,000 |
| NA | 1,251 | $644,535,000 | $515,216 |