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 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, Baltimore, Richmond, Winchester, and Virginia Beach among others. We have data for 17 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
Your Estimates
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This is not an official calculator from Jams-01. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,185Origination Dollar Volume (All Markets)
$538,895,000Awards
JAMS-01 - 2021
JAMS-01 is a 2021 , due to their low .
For 2021, 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) | 1,109 | $513,575,000 | $463,097 | $5,654 | 2.77% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 17 | $6,695,000 | $393,824 | $4,936 | 2.69% |
| RICHMOND, VA (FHA|USDA|VA) | 16 | $5,120,000 | $320,000 | $3,772 | 2.96% |
| Outside of Metro Areas | 11 | $3,495,000 | $317,727 | $5,667 | 2.92% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 8 | $3,020,000 | $377,500 | $6,178 | 2.61% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 8 | $2,660,000 | $332,500 | $5,012 | 2.55% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $4,204 | 3.00% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $3,429 | 2.83% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,476 | 3.38% |
| Easton, MD (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,712 | 2.75% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,390 | 3.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,845 | 3.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $3,384 | 4.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,890 | 3.13% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,724 | 2.88% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,268 | 3.50% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,372 | 3.00% |
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 2021, Jams-01's most frequently originated type of loan was Conventional, with 932 originations. Their 2nd most popular type was VA, with 226 originations.
Loan Reason
For 2021, Jams-01's most frequently cited loan purpose was Home Purchase, with 742 originations. The 2nd most popular reason was Refi, with 367 originations.
Loan Duration/Length
For 2021, Jams-01's most frequently cited loan duration was 30 Year, with 1,087 originations. The 2nd most popular length was 15 Year, with 63 originations.
Origination Fees/Closing Costs
Jams-01's average total fees were $5,797, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,075 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 692 | $319,930,000 | $462,327 |
| <2.5% | 298 | $132,230,000 | $443,725 |
| 3-4% | 195 | $86,735,000 | $444,795 |
During 2021, Jams-01's average interest rate for loans was 2.81%, while their most frequently originated rate bucket for loans was 2.5-3%, with 692 originations.
Loan Sizing
2021 saw Jams-01 place emphasis on $400k-600k loans with 468 originations, totaling $229,020,000 in origination value.
Applicant Income
Jams-01 lent most frequently to those with incomes in the $100k-150k range, with 388 originations. The second most popular income band? $150k-250k, with 337 originations.
Applicant Debt to Income Ratio
Jams-01 lent most frequently to those with DTI ratios of 20-30%, with 288 originations. The next most common DTI ratio? 30-36%, with 216 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.69%
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 origination89.87%
Jams-01 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,185 | $538,895,000 | $454,764 |