Metropolitan Life Insurance Co Mortgage Rates, Fees & Info

Whippany, NJ

LEI: C4BXATY60WC6XEOZDX54

Tax ID: 13-5581829

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Metropolitan Life Insurance Co is a mid-sized mortgage company specializing in Refi and Home Purchase loans. Metropolitan Life Insurance Co has a high proportion of conventional loans. Their top markets by origination volume include: New York, Seattle, Tampa, Atlanta, and Dallas among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)

Metropolitan Life Insurance Co has an above average approval rate when compared to the average across all lenders.

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
15 Year Conventional Purchase 5.68% 2/19/24
15 Year Conventional Refi 5.68% 2/19/24
15 Year Cash-out Refi 5.68% 2/19/24
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.

Metropolitan Life Insurance Co Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Metropolitan Life Insurance Co. 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

79

Origination Dollar Volume (All Markets)

$5,294,795,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 8 $635,290,000 $79,411,250 $0 3.55%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 7 $404,135,000 $57,733,571 $0 4.04%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $372,100,000 $93,025,000 $0 2.84%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $346,445,000 $69,289,000 $0 4.76%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $330,920,000 $55,153,333 $0 3.82%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $315,190,000 $78,797,500 $0 4.21%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $296,020,000 $74,005,000 $0 3.54%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $275,810,000 $137,905,000 $0 3.14%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $274,635,000 $91,545,000 $0 3.15%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $216,520,000 $54,130,000 $0 5.52%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $205,765,000 $68,588,333 $0 4.04%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $204,685,000 $68,228,333 $0 4.54%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $160,670,000 $80,335,000 $0 2.56%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $135,305,000 $135,305,000 $0 2.46%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $121,820,000 $60,910,000 $0 3.19%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $117,010,000 $58,505,000 $0 5.22%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $115,660,000 $57,830,000 $0 2.72%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $109,015,000 $36,338,333 $0 2.95%
BOULDER, CO (FHA|USDA|VA) 2 $95,810,000 $47,905,000 $0 3.08%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $95,005,000 $95,005,000 $0 3.42%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $84,010,000 $42,005,000 $0 3.01%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $79,005,000 $79,005,000 $0 5.27%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $73,460,000 $36,730,000 $0 2.83%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $66,210,000 $33,105,000 $0 3.67%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $60,685,000 $60,685,000 $0 3.25%
BOISE CITY, ID (FHA|USDA|VA) 1 $38,405,000 $38,405,000 $0 3.63%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $35,205,000 $35,205,000 $0 3.24%
COLUMBUS, OH (FHA|USDA|VA) 1 $30,005,000 $30,005,000 $0 5.18%
Metropolitan Life Insurance Co's top markets include New York, Seattle, Tampa, Atlanta, and Dallas among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $5,294,795,000 $67,022,722 $0 3.75%

    For 2022, Metropolitan Life Insurance Co's most frequently originated type of loan was Conventional, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 41 $2,889,315,000 $70,471,098 $0 4.05%
    Home Purchase 38 $2,405,480,000 $63,302,105 $0 3.43%

    For 2022, Metropolitan Life Insurance Co's most frequently cited loan purpose was Refi, with 41 originations. The 2nd most popular reason was Home Purchase, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    3 Year 24 $1,731,200,000 $72,133,333 $0 3.93%
    10 Year 20 $1,413,960,000 $70,698,000 $0 3.42%
    5 Year 18 $1,018,180,000 $56,565,556 $0 3.99%
    Other 16 $921,450,000 $57,590,625 $0 3.66%
    15 Year 1 $210,005,000 $210,005,000 $0 3.33%

    For 2022, Metropolitan Life Insurance Co's most frequently cited loan duration was 3 Year, with 24 originations. The 2nd most popular length was 10 Year, with 20 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 36 $2,412,410,000 $67,011,389
    <2.5% 11 $768,375,000 $69,852,273
    5-6% 9 $459,045,000 $51,005,000
    4-5% 8 $471,750,000 $58,968,750
    2.5-3% 7 $583,025,000 $83,289,286
    6-7% 5 $346,325,000 $69,265,000
    7-8% 2 $145,360,000 $72,680,000

    During 2022, Metropolitan Life Insurance Co's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 79 $5,294,795,000 $67,022,722 $0 3.75%

    2022 saw Metropolitan Life Insurance Co place emphasis on $1MM+ loans with 79 originations, totaling $5,294,795,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 79 $5,294,795,000 $67,022,722 $0 3.75%

    Approval Rates

    Total approvals of all applications
    100.00%

    Metropolitan Life Insurance Co has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 79 $5,294,795,000 $67,022,722

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    79 $5,294,795,000 $67,022,722

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 47 $3,057,895,000 $65,061,596 $0 3.49%
    60-80% 28 $2,037,970,000 $72,784,643 $0 4.02%
    80-100% 2 $76,820,000 $38,410,000 $0 3.41%