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 an average proportion of FHA loans. Their top markets by origination volume include: Washington, Richmond, Winchester, Virginia Beach, and Hagerstown among others. We have data for 16 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 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 | 6.47% | 4/26/24 |
| 30 Year Conventional Refi | 6.31% | 4/26/24 |
| 30 Year Cash-out Refi | 6.31% | 4/26/24 |
| 30 Year FHA Purchase | 7.08% | 4/26/24 |
| 30 Year VA Purchase | 6.09% | 4/26/24 |
| 30 Year VA Refi | 5.55% | 4/26/24 |
| 15 Year Conventional Purchase | 5.81% | 4/26/24 |
| 15 Year Conventional Refi | 5.78% | 4/26/24 |
| 15 Year Cash-out Refi | 5.78% | 4/26/24 |
| 15 Year VA Refi | 5.78% | 4/26/24 |
| 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. | ||
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
341Origination Dollar Volume (All Markets)
$158,145,000Awards
JAMS-01 - 2023
JAMS-01 is a 2023 , due to their low .
For 2023, 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
6.39%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
Jams-01's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,853.
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 $9,089.
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) | 288 | $138,720,000 | $481,667 | $11,172 | 6.34% |
| RICHMOND, VA (FHA|USDA|VA) | 12 | $4,520,000 | $376,667 | $7,276 | 6.55% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 10 | $4,260,000 | $426,000 | $8,207 | 6.60% |
| Outside of Metro Areas | 7 | $2,525,000 | $360,714 | $10,160 | 6.70% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,660,000 | $415,000 | $10,994 | 6.81% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $10,125 | 6.55% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $13,519 | 6.13% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $12,326 | 6.25% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $8,153 | 6.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,104 | 6.56% |
| STAUNTON, VA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $7,146 | 6.94% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,721 | 6.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,340 | 6.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,022 | 6.88% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $6,504 | 7.31% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,766 | 7.63% |
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.
Similarity Rank: 17
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 247 | $104,275,000 | $422,166 | $8,175 | 6.50% |
| VA | 63 | $40,305,000 | $639,762 | $18,531 | 6.01% |
| FHA | 31 | $13,565,000 | $437,581 | $15,482 | 6.25% |
For 2023, Jams-01's most frequently originated type of loan was Conventional, with 247 originations. Their 2nd most popular type was VA, with 63 originations.
Loan Reason
For 2023, Jams-01's most frequently cited loan purpose was Home Purchase, with 335 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 333 | $155,495,000 | $466,952 | $10,853 | 6.39% |
| 15 Year | 8 | $2,650,000 | $331,250 | $6,572 | 6.36% |
For 2023, Jams-01's most frequently cited loan duration was 30 Year, with 333 originations. The 2nd most popular length was 15 Year, with 8 originations.
Origination Fees/Closing Costs
Jams-01's average total fees were $10,853, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 156 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 191 | $86,525,000 | $453,010 |
| 5-6% | 108 | $53,730,000 | $497,500 |
| 7-8% | 42 | $17,890,000 | $425,952 |
During 2023, Jams-01's average interest rate for loans was 6.39%, while their most frequently originated rate bucket for loans was 6-7%, with 191 originations.
Loan Sizing
2023 saw Jams-01 place emphasis on $400k-600k loans with 136 originations, totaling $66,690,000 in origination value.
Applicant Income
Jams-01 lent most frequently to those with incomes in the $150k-250k range, with 130 originations. The second most popular income band? $100k-150k, with 95 originations.
Applicant Debt to Income Ratio
Jams-01 lent most frequently to those with DTI ratios of 30-36%, with 64 originations. The next most common DTI ratio? 20-30%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.51%
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 origination80.94%
Jams-01 has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 341 | $158,145,000 | $463,768 |