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. Their top markets by origination volume include: Miami, Cape Coral, Tampa, Port St. Lucie, and Palm Bay 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 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.
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 | 7.70% | 4/5/25 |
| 30 Year Conventional Refi | 7.74% | 4/5/25 |
| 30 Year FHA Purchase | 7.74% | 4/5/25 |
| 30 Year FHA Refi | 7.23% | 4/5/25 |
| 30 Year VA Purchase | 7.38% | 4/5/25 |
| 15 Year Conventional Purchase | 7.27% | 4/5/25 |
| 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. | ||
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™
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
146Origination Dollar Volume (All Markets)
$60,160,000Relative Rate
Ready Mortgage Lenders's average 30 year fixed mortgage rate was
7.01%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.46%.
Relative Fees (Closing Costs)
Ready Mortgage Lenders's average total fees/closing costs for a 30 year fixed rate
mortgage were $17,815.
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 $8,356.
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) | 94 | $42,970,000 | $457,128 | $19,125 | 7.05% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 26 | $8,650,000 | $332,692 | $16,467 | 6.91% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,130,000 | $355,000 | $13,357 | 7.16% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $18,442 | 6.72% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,220,000 | $203,333 | $9,175 | 7.14% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $17,046 | 7.54% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $27,713 | 6.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $26,848 | 6.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $10,276 | 7.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $18,550 | 7.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,603 | 7.63% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $14,222 | 6.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,010 | 6.75% |
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.
Similarity Rank: 84
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 73 | $30,945,000 | $423,904 | $21,767 | 6.82% |
| Conventional | 71 | $28,625,000 | $403,169 | $13,886 | 7.25% |
| VA | 2 | $590,000 | $295,000 | $13,690 | 7.00% |
For 2024, Ready Mortgage Lenders's most frequently originated type of loan was FHA, with 73 originations. Their 2nd most popular type was Conventional, with 71 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 135 | $56,425,000 | $417,963 | $18,156 | 7.00% |
| Refi | 11 | $3,735,000 | $339,545 | $13,748 | 7.45% |
For 2024, Ready Mortgage Lenders's most frequently cited loan purpose was Home Purchase, with 135 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
For 2024, Ready Mortgage Lenders's most frequently cited loan duration was 30 Year, with 144 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 126 | $55,130,000 | $437,540 |
| $4k-5k | 13 | $3,185,000 | $245,000 |
| $3k-4k | 4 | $770,000 | $192,500 |
| $1k-2k | 3 | $1,075,000 | $358,333 |
Ready Mortgage Lenders's average total fees were $17,815, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 126 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 72 | $29,610,000 | $411,250 |
| 7-8% | 71 | $29,155,000 | $410,634 |
| Over 8% | 3 | $1,395,000 | $465,000 |
During 2024, Ready Mortgage Lenders's average interest rate for loans was 7.01%, while their most frequently originated rate bucket for loans was 6-7%, with 72 originations.
Loan Sizing
2024 saw Ready Mortgage Lenders place emphasis on $400k-600k loans with 66 originations, totaling $32,260,000 in origination value.
Applicant Income
Ready Mortgage Lenders lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $150k-250k, with 30 originations.
Applicant Debt to Income Ratio
Ready Mortgage Lenders lent most frequently to those with DTI ratios of 50-60%, with 48 originations. The next most common DTI ratio? 49%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.13%
Ready Mortgage Lenders has a below average approval rate.
Pick Rate
Approvals leading to origination84.25%
Ready Mortgage Lenders has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 146 | $60,160,000 | $412,055 |