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 and Refi 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, Winchester, Richmond, Virginia Beach, and Baltimore among others. We have data for 10 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.47% | 11/22/24 |
| 30 Year Conventional Refi | 6.31% | 11/22/24 |
| 30 Year Cash-out Refi | 6.31% | 11/22/24 |
| 30 Year FHA Purchase | 7.08% | 11/22/24 |
| 30 Year VA Purchase | 6.09% | 11/22/24 |
| 30 Year VA Refi | 5.55% | 11/22/24 |
| 15 Year Conventional Purchase | 5.81% | 11/22/24 |
| 15 Year Conventional Refi | 5.78% | 11/22/24 |
| 15 Year Cash-out Refi | 5.78% | 11/22/24 |
| 15 Year VA Refi | 5.78% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,006Origination Dollar Volume (All Markets)
$415,790,000Awards
JAMS-01 - 2019
JAMS-01 is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 958 | $400,190,000 | $417,735 | $6,283 | 3.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 12 | $4,230,000 | $352,500 | $6,462 | 3.77% |
| RICHMOND, VA (FHA|USDA|VA) | 10 | $2,750,000 | $275,000 | $3,649 | 3.95% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 6 | $2,140,000 | $356,667 | $5,924 | 4.08% |
| Outside of Metro Areas | 7 | $2,135,000 | $305,000 | $6,981 | 3.84% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $2,015,000 | $403,000 | $5,218 | 3.70% |
| ROANOKE, VA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $3,815 | 3.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $10,240 | 3.44% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,375 | 4.13% |
| Easton, MD (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,598 | 4.13% |
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 2019, Jams-01's most frequently originated type of loan was Conventional, with 677 originations. Their 2nd most popular type was VA, with 244 originations.
Loan Reason
For 2019, Jams-01's most frequently cited loan purpose was Home Purchase, with 723 originations. The 2nd most popular reason was Refi, with 242 originations.
Loan Duration/Length
For 2019, Jams-01's most frequently cited loan duration was 30 Year, with 971 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
Jams-01's average total fees were $6,331, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 881 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 707 | $292,965,000 | $414,378 |
| 4-5% | 285 | $117,795,000 | $413,316 |
| 2.5-3% | 8 | $2,970,000 | $371,250 |
| 5-6% | 6 | $2,060,000 | $343,333 |
During 2019, Jams-01's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 707 originations.
Loan Sizing
2019 saw Jams-01 place emphasis on $200k-400k loans with 446 originations, totaling $140,330,000 in origination value.
Applicant Income
Jams-01 lent most frequently to those with incomes in the $100k-150k range, with 307 originations. The second most popular income band? $150k-250k, with 252 originations.
Applicant Debt to Income Ratio
Jams-01 lent most frequently to those with DTI ratios of 30-36%, with 195 originations. The next most common DTI ratio? 20-30%, with 192 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.39%
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 origination86.48%
Jams-01 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,006 | $415,790,000 | $413,310 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,006 | $415,790,000 | $413,310 |