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 Refi and 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 13 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.31% | 4/21/24 |
| 30 Year Cash-out Refi | 6.31% | 4/21/24 |
| 30 Year FHA Purchase | 7.08% | 4/21/24 |
| 30 Year VA Purchase | 6.09% | 4/21/24 |
| 30 Year VA Refi | 5.55% | 4/21/24 |
| 15 Year Conventional Purchase | 5.81% | 4/21/24 |
| 15 Year Conventional Refi | 5.78% | 4/21/24 |
| 15 Year Cash-out Refi | 5.78% | 4/21/24 |
| 15 Year VA Refi | 5.78% | 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. | ||
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
1,674Origination Dollar Volume (All Markets)
$722,120,000Awards
JAMS-01 - 2020
JAMS-01 is a 2020 , due to their low .
For 2020, 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) | 1,584 | $694,290,000 | $438,314 | $5,383 | 2.92% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 20 | $6,610,000 | $330,500 | $4,841 | 2.99% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 16 | $5,300,000 | $331,250 | $5,020 | 2.84% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $5,205,000 | $306,176 | $4,515 | 3.00% |
| Outside of Metro Areas | 14 | $3,710,000 | $265,000 | $3,726 | 3.06% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 8 | $2,050,000 | $256,250 | $3,564 | 3.05% |
| Easton, MD (FHA|USDA|VA) | 3 | $1,415,000 | $471,667 | $4,164 | 2.75% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $7,568 | 2.58% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 4 | $940,000 | $235,000 | $3,443 | 2.81% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,623 | 2.94% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,587 | 2.25% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,889 | 2.50% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,002 | 2.63% |
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.
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Product Mix
For 2020, Jams-01's most frequently originated type of loan was Conventional, with 1,289 originations. Their 2nd most popular type was VA, with 336 originations.
Loan Reason
For 2020, Jams-01's most frequently cited loan purpose was Refi, with 803 originations. The 2nd most popular reason was Home Purchase, with 778 originations.
Loan Duration/Length
For 2020, Jams-01's most frequently cited loan duration was 30 Year, with 1,556 originations. The 2nd most popular length was 15 Year, with 80 originations.
Origination Fees/Closing Costs
Jams-01's average total fees were $5,452, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,468 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 824 | $360,250,000 | $437,197 |
| 3-4% | 532 | $230,850,000 | $433,929 |
| <2.5% | 304 | $126,150,000 | $414,967 |
| 4-5% | 14 | $4,870,000 | $347,857 |
During 2020, Jams-01's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 824 originations.
Loan Sizing
2020 saw Jams-01 place emphasis on $200k-400k loans with 705 originations, totaling $221,625,000 in origination value.
Applicant Income
Jams-01 lent most frequently to those with incomes in the $100k-150k range, with 544 originations. The second most popular income band? $150k-250k, with 423 originations.
Applicant Debt to Income Ratio
Jams-01 lent most frequently to those with DTI ratios of 20-30%, with 419 originations. The next most common DTI ratio? 30-36%, with 316 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.94%
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 origination88.53%
Jams-01 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,674 | $722,120,000 | $431,374 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,674 | $722,120,000 | $431,374 |