Ready Mortgage Lenders Rates, Fees & InfoMIAMI, FL
Tax ID: 46-3010647
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewReady Mortgage Lenders is a smaller mortgage company specializing in Home Purchase loans. Ready Mortgage Lenders has a high proportion of conventional loans. They have a a high proportion of FHA loans. Ready Mortgage Lenders has a low ratio 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: Miami, Tampa, Orlando, Cape Coral, and Key West among others. We have data for 14 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.
|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.27%||9/18/23|
|30 Year Conventional Refi||7.89%||9/18/23|
|30 Year FHA Purchase||6.27%||9/18/23|
|30 Year FHA Refi||7.13%||9/18/23|
|30 Year VA Purchase||6.27%||9/18/23|
|30 Year VA Refi||6.27%||9/18/23|
|30 Year USDA Purchase||6.27%||9/18/23|
|15 Year Conventional Purchase||6.96%||9/18/23|
|15 Year Conventional Refi||6.59%||9/18/23|
|15 Year Cash-out Refi||6.59%||9/18/23|
|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 EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Ready Mortgage Lenders. 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.
Origination Dollar Volume (All Markets)$94,330,000
Ready Mortgage Lenders's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.65%.
Relative Fees (Closing Costs)
Ready Mortgage Lenders's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,161.
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 $4,750.
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)||197||$69,985,000||$355,254||$14,584||5.32%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||23||$7,535,000||$327,609||$15,662||5.35%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||17||$5,985,000||$352,059||$17,660||5.51%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||14||$4,850,000||$346,429||$16,869||5.68%|
|Key West, FL (FHA|USDA|VA)||5||$1,465,000||$293,000||$12,046||6.27%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||3||$1,125,000||$375,000||$20,411||6.38%|
|OCALA, FL (FHA|USDA|VA)||3||$935,000||$311,667||$17,294||5.88%|
|JACKSONVILLE, FL (FHA|USDA|VA)||2||$670,000||$335,000||$17,465||5.56%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$585,000||$585,000||$19,539||6.00%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$365,000||$365,000||$10,824||6.50%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||1||$275,000||$275,000||$14,125||5.75%|
|SEBRING-AVON PARK, FL (FHA|USDA|VA)||1||$235,000||$235,000||$15,909||6.63%|
|Clewiston, FL (FHA|USDA|VA)||1||$195,000||$195,000||$11,436||5.38%|
|GAINESVILLE, FL (FHA|USDA|VA)||1||$125,000||$125,000||$7,561||6.64%|
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.
Similarity Rank: 167
Similarity Rank: 696
Similarity Rank: 1134
Similarity Rank: 1274
Similarity Rank: 1280
Similarity Rank: 1410
Similarity Rank: 1416
Similarity Rank: 1746
Similarity Rank: 2242
Similarity Rank: 2478
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Ready Mortgage Lenders's most frequently originated type of loan was Conventional, with 147 originations. Their 2nd most popular type was FHA, with 121 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||1||$445,000||$445,000||$25,490||4.63%|
For 2022, Ready Mortgage Lenders's most frequently cited loan purpose was Home Purchase, with 236 originations. The 2nd most popular reason was Refi, with 33 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Ready Mortgage Lenders's most frequently cited loan duration was 30 Year, with 263 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Ready Mortgage Lenders's average total fees were $15,161, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 215 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Ready Mortgage Lenders's average interest rate for loans was 5.41%, while their most frequently originated rate bucket for loans was 5-6%, with 92 originations.
2022 saw Ready Mortgage Lenders place emphasis on $200k-400k loans with 137 originations, totaling $43,905,000 in origination value.
Ready Mortgage Lenders lent most frequently to those with incomes in the $75k-100k range, with 87 originations. The second most popular income band? $100k-150k, with 73 originations.
Applicant Debt to Income Ratio
Ready Mortgage Lenders lent most frequently to those with DTI ratios of 50-60%, with 72 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Approval RatesTotal approvals of all applications
Ready Mortgage Lenders has an average approval rate.
Pick RateApprovals leading to origination
Ready Mortgage Lenders has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|