Foundation Mortgage Corporation Rates, Fees & Info
MIAMI BEACH, FLLEI: 549300ZCR1XCLNEEI724
Tax ID: 65-0882429
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Foundation Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Foundation Mortgage Corporation 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: Los Angeles, New York, Miami, Riverside, and Orlando among others. We have data for 95 markets. (Some data included below & more in-depth data is available with an active subscription.)Foundation Mortgage Corporation 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. Foundation Mortgage Corporation 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.05% | 3/16/25 |
| 30 Year Conventional Refi | 6.78% | 3/16/25 |
| 30 Year FHA Purchase | 7.43% | 3/16/25 |
| 30 Year FHA Refi | 6.82% | 3/16/25 |
| 30 Year VA Purchase | 6.27% | 3/16/25 |
| 30 Year VA Refi | 6.21% | 3/16/25 |
| 15 Year Conventional Purchase | 6.14% | 3/16/25 |
| 15 Year Conventional Refi | 6.13% | 3/16/25 |
| 15 Year Cash-out Refi | 6.13% | 3/16/25 |
| 15 Year VA Refi | 6.28% | 3/16/25 |
| 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. | ||
Foundation Mortgage Corporation Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Foundation Mortgage Corporation. 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
487Origination Dollar Volume (All Markets)
$262,695,000Relative Rate
Foundation Mortgage Corporation's average 30 year fixed mortgage rate was
8.68%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 2.2%.
Relative Fees (Closing Costs)
Foundation Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $18,768.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 70 | $72,600,000 | $1,037,143 | $24,384 | 8.52% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 44 | $24,000,000 | $545,455 | $35,770 | 8.49% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 39 | $20,105,000 | $515,513 | $19,637 | 8.51% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 25 | $17,225,000 | $689,000 | $19,882 | 8.72% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 36 | $14,230,000 | $395,278 | $17,099 | 8.68% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 14 | $10,020,000 | $715,714 | $18,365 | 8.77% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 34 | $8,180,000 | $240,588 | $9,474 | 8.95% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $6,770,000 | $1,128,333 | $23,714 | 8.52% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 11 | $5,935,000 | $539,545 | $12,590 | 8.38% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 12 | $5,920,000 | $493,333 | $17,109 | 8.88% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 7 | $5,455,000 | $779,286 | $18,470 | 8.48% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 8 | $4,720,000 | $590,000 | $17,371 | 9.09% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 10 | $4,240,000 | $424,000 | $20,853 | 9.86% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 7 | $4,015,000 | $573,571 | $16,506 | 8.39% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 8 | $3,580,000 | $447,500 | $8,245 | 8.61% |
| COLUMBUS, OH (FHA|USDA|VA) | 14 | $3,370,000 | $240,714 | $13,275 | 8.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 6 | $2,740,000 | $456,667 | $12,470 | 8.19% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $1,965,000 | $655,000 | $21,350 | 8.63% |
| NAPA, CA (FHA|USDA|VA) | 1 | $1,965,000 | $1,965,000 | $63,008 | 7.38% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $11,885 | 9.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $23,329 | 9.34% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $1,655,000 | $1,655,000 | $0 | 8.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $1,550,000 | $775,000 | $20,731 | 8.06% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $1,510,000 | $755,000 | $13,641 | 8.38% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $30,254 | 7.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $0 | 9.25% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $1,495,000 | $1,495,000 | $0 | 8.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $1,390,000 | $695,000 | $0 | 8.69% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $1,385,000 | $277,000 | $0 | 8.60% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $0 | 8.96% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $6,355 | 9.28% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $0 | 8.25% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $0 | 9.46% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $11,803 | 7.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $18,721 | 8.83% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $0 | 8.88% |
| Outside of Metro Areas | 2 | $870,000 | $435,000 | $11,665 | 8.38% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $17,326 | 8.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 9.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 7.88% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $0 | 8.46% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $700,000 | $175,000 | $0 | 8.75% |
| Hilo, HI (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 8.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 8.56% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $12,505 | 9.38% |
| VALLEJO, CA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $0 | 7.81% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 8.63% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $18,314 | 7.69% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 7.50% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 7.94% |
| SALEM, OR (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $14,111 | 12.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $0 | 8.54% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $7,853 | 8.71% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $12,950 | 8.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 8.79% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $7,950 | 8.88% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $17,520 | 8.75% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 7.50% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 9.63% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $15,671 | 9.88% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 8.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $13,364 | 7.25% |
| Sonora, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $11,627 | 8.25% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 10.00% |
| Newport, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,154 | 8.38% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,768 | 10.13% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 9.38% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $7,900 | 8.63% |
| MADERA, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 8.50% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 8.00% |
| TOLEDO, OH (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 9.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 8.25% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,233 | 9.63% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 9.75% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 9.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $15,066 | 8.50% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 9.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,727 | 10.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 7.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 8.75% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 9.63% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,133 | 8.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 9.25% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 10.50% |
| Houghton, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 10.25% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 9.63% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 9.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 8.75% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 10.13% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.63% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 10.13% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 8.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,791 | 8.25% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against FOUNDATION MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 72
Similarity Rank: 258
Similarity Rank: 261
Similarity Rank: 280
Similarity Rank: 342
Similarity Rank: 351
Similarity Rank: 441
Similarity Rank: 459
Similarity Rank: 476
Similarity Rank: 477
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 486 | $262,400,000 | $539,918 | $18,855 | 8.70% |
| FHA | 1 | $295,000 | $295,000 | $18,407 | 6.50% |
For 2023, Foundation Mortgage Corporation's most frequently originated type of loan was Conventional, with 486 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 271 | $143,165,000 | $528,284 | $18,377 | 8.67% |
| Refi | 216 | $119,530,000 | $553,380 | $19,668 | 8.74% |
For 2023, Foundation Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 271 originations. The 2nd most popular reason was Refi, with 216 originations.
Loan Duration/Length
For 2023, Foundation Mortgage Corporation's most frequently cited loan duration was 30 Year, with 476 originations. The 2nd most popular length was 30+ year, with 10 originations.
Origination Fees/Closing Costs
Foundation Mortgage Corporation's average total fees were $18,768, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 169 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 347 | $183,655,000 | $529,265 |
| 7-8% | 129 | $74,385,000 | $576,628 |
| 6-7% | 8 | $3,690,000 | $461,250 |
| 5-6% | 3 | $965,000 | $321,667 |
During 2023, Foundation Mortgage Corporation's average interest rate for loans was 8.68%, while their most frequently originated rate bucket for loans was Over 8%, with 347 originations.
Loan Sizing
2023 saw Foundation Mortgage Corporation place emphasis on $200k-400k loans with 177 originations, totaling $51,545,000 in origination value.
Applicant Income
Foundation Mortgage Corporation lent most frequently to those with incomes in the $250k+ range, with 155 originations. The second most popular income band? $50k or less, with 144 originations.
Applicant Debt to Income Ratio
Foundation Mortgage Corporation lent most frequently to those with DTI ratios of <20%, with 58 originations. The next most common DTI ratio? 30-36%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.05%
Foundation Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination20.53%
Foundation Mortgage Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 35761.13 | 1 | $435,000 | $435,000 |
| 4845.0 | 1 | $155,000 | $155,000 |
| NA | 485 | $262,105,000 | $540,423 |