Jams-01 Mortgage Rates, Fees & Info
ARLINGTON, VALEI: 549300ZAZI235VM8Q149
Tax ID: 51-0427792
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Mortgage Data
Review & Overview
Jams-01 is a smaller mortgage company specializing in Home Purchase loans. Jams-01 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: Washington, Winchester, Baltimore, Richmond, and Virginia Beach among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Jams-01 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. Jams-01 is typically a high 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.47% | 9/18/23 |
| 30 Year Conventional Refi | 6.31% | 9/18/23 |
| 30 Year Cash-out Refi | 6.31% | 9/18/23 |
| 30 Year FHA Purchase | 7.08% | 9/18/23 |
| 30 Year VA Purchase | 6.09% | 9/18/23 |
| 30 Year VA Refi | 5.55% | 9/18/23 |
| 15 Year Conventional Purchase | 5.81% | 9/18/23 |
| 15 Year Conventional Refi | 5.78% | 9/18/23 |
| 15 Year Cash-out Refi | 5.78% | 9/18/23 |
| 15 Year VA Refi | 5.78% | 9/18/23 |
| 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. | ||
Jams-01 Mortgage Calculator
Your Estimates
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This is not an official calculator from Jams-01. 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
569Origination Dollar Volume (All Markets)
$269,895,000Awards
JAMS-01 - 2022
JAMS-01 is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Jams-01's average 30 year fixed mortgage rate was
4.77%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.01%.
Relative Fees (Closing Costs)
Jams-01's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,352.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 509 | $247,775,000 | $486,788 | $9,395 | 4.71% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 15 | $6,235,000 | $415,667 | $10,594 | 4.99% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 11 | $4,725,000 | $429,545 | $8,537 | 5.51% |
| RICHMOND, VA (FHA|USDA|VA) | 10 | $3,580,000 | $358,000 | $5,872 | 5.11% |
| Outside of Metro Areas | 7 | $2,355,000 | $336,429 | $7,642 | 4.61% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $1,465,000 | $293,000 | $7,139 | 4.45% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $4,776 | 4.03% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $4,158 | 5.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $4,851 | 4.33% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $4,932 | 5.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,919 | 3.13% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,564 | 5.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against JAMS-01 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
For 2022, Jams-01's most frequently originated type of loan was Conventional, with 423 originations. Their 2nd most popular type was VA, with 116 originations.
Loan Reason
For 2022, Jams-01's most frequently cited loan purpose was Home Purchase, with 530 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.
Loan Duration/Length
For 2022, Jams-01's most frequently cited loan duration was 30 Year, with 550 originations. The 2nd most popular length was 15 Year, with 16 originations.
Origination Fees/Closing Costs
Jams-01's average total fees were $9,352, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 256 originations.
Interest Rates
During 2022, Jams-01's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 180 originations.
Loan Sizing
2022 saw Jams-01 place emphasis on $400k-600k loans with 230 originations, totaling $115,320,000 in origination value.
Applicant Income
Jams-01 lent most frequently to those with incomes in the $150k-250k range, with 185 originations. The second most popular income band? $100k-150k, with 172 originations.
Applicant Debt to Income Ratio
Jams-01 lent most frequently to those with DTI ratios of 30-36%, with 105 originations. The next most common DTI ratio? 20-30%, with 93 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.38%
Jams-01 has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.64%
Jams-01 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 569 | $269,895,000 | $474,332 |