Ready Mortgage Lenders Rates, Fees & Info
MIAMI, FLLEI: 549300ZWBZI4IUOSSQ18
Tax ID: 46-3010647
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Mortgage Data
Review & Overview
Ready Mortgage Lenders is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Ready Mortgage Lenders has a high proportion of conventional loans. Ready Mortgage Lenders has a low ratio of conventional loans. Their top markets by origination volume include: Miami, Cape Coral, Orlando, Tampa, and Lakeland among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Ready Mortgage Lenders has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Ready Mortgage Lenders 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 | 6.27% | 4/14/24 |
| 30 Year Conventional Refi | 7.89% | 4/14/24 |
| 30 Year FHA Purchase | 6.27% | 4/14/24 |
| 30 Year FHA Refi | 7.13% | 4/14/24 |
| 30 Year VA Purchase | 6.27% | 4/14/24 |
| 30 Year VA Refi | 6.27% | 4/14/24 |
| 30 Year USDA Purchase | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 6.96% | 4/14/24 |
| 15 Year Conventional Refi | 6.59% | 4/14/24 |
| 15 Year Cash-out Refi | 6.59% | 4/14/24 |
| 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. | ||
Ready Mortgage Lenders Mortgage Calculator
Your Estimates
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This is not an official calculator from Ready Mortgage Lenders. 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
225Origination Dollar Volume (All Markets)
$91,395,000Relative Rate
Ready Mortgage Lenders's average 30 year fixed mortgage rate was
7.28%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.8%.
Relative Fees (Closing Costs)
Ready Mortgage Lenders's average total fees/closing costs for a 30 year fixed rate
mortgage were $18,161.
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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 152 | $66,370,000 | $436,645 | $19,212 | 7.37% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 35 | $11,055,000 | $315,857 | $15,010 | 7.17% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 11 | $4,195,000 | $381,364 | $17,995 | 7.39% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 11 | $3,655,000 | $332,273 | $16,441 | 7.43% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $1,885,000 | $377,000 | $18,289 | 7.05% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $24,087 | 8.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $16,322 | 7.13% |
| OCALA, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $8,673 | 7.13% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,781 | 6.94% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $20,349 | 6.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $17,029 | 6.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $14,529 | 6.50% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $12,052 | 6.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against READY MORTGAGE LENDERS 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 2023, Ready Mortgage Lenders's most frequently originated type of loan was FHA, with 128 originations. Their 2nd most popular type was Conventional, with 95 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 219 | $88,575,000 | $404,452 | $18,127 | 7.28% |
| Refi | 6 | $2,820,000 | $470,000 | $17,799 | 8.42% |
For 2023, Ready Mortgage Lenders's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2023, Ready Mortgage Lenders's most frequently cited loan duration was 30 Year, with 223 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
Ready Mortgage Lenders's average total fees were $18,161, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 196 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 97 | $38,385,000 | $395,722 |
| 6-7% | 89 | $36,105,000 | $405,674 |
| Over 8% | 31 | $14,135,000 | $455,968 |
| 5-6% | 8 | $2,770,000 | $346,250 |
During 2023, Ready Mortgage Lenders's average interest rate for loans was 7.28%, while their most frequently originated rate bucket for loans was 7-8%, with 97 originations.
Loan Sizing
2023 saw Ready Mortgage Lenders place emphasis on $200k-400k loans with 106 originations, totaling $33,670,000 in origination value.
Applicant Income
Ready Mortgage Lenders lent most frequently to those with incomes in the $100k-150k range, with 81 originations. The second most popular income band? $75k-100k, with 52 originations.
Applicant Debt to Income Ratio
Ready Mortgage Lenders lent most frequently to those with DTI ratios of 50-60%, with 66 originations. The next most common DTI ratio? 48%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.84%
Ready Mortgage Lenders has a below average approval rate.
Pick Rate
Approvals leading to origination75.11%
Ready Mortgage Lenders has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 225 | $91,395,000 | $406,200 |