Is Vanderbilt Mortgage And Finance, Inc An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Vanderbilt Mortgage And Finance, Inc with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.06%)
Loan Related Closing Costs: similar to average (-$9)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Vanderbilt Mortgage And Finance, Inc originated 13811 mortgages, a national market share of 0.2%. It was most active in WV (1.9% market share), AL (1.2% market share), and SC (1.0% market share).

On average, Vanderbilt Mortgage And Finance, Inc’s interest rates were higher than those of comparable mortgages at other lenders (+0.06%).1The comparable mortgages control for Vanderbilt Mortgage And Finance, Inc’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3791, which was similar to those of comparable mortgages at $3800, with a difference of -$9. Overall, we estimate that Vanderbilt Mortgage And Finance, Inc tends to be an expensive lender, with a cost-adjusted-rate difference of +0.07% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Vanderbilt Mortgage And Finance, Inc.

Vanderbilt Mortgage And Finance, Inc originated Conforming, USDA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Vanderbilt Mortgage And Finance, Inc compared to other lenders

Conforming USDA VA
Interest Rate Difference +0.05% +0.16% +0.24%
Loan related Closing Cost Difference +$58 +$795 -$2733
Cost Adjusted Rate Difference +0.06% +0.26% +0.04%

Based on the table above, Vanderbilt Mortgage And Finance, Inc is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming and USDA purchase mortgages.

Mortgage Refinancing from Vanderbilt Mortgage And Finance, Inc compared to other lenders

Conforming
Interest Rate Difference +0.10%
Loan Related Closing Cost Difference -$141
Cost Adjusted Rate Difference +0.08%

Based on the table above, Vanderbilt Mortgage And Finance, Inc is more expensive than other lenders for Conforming mortgage refinance.

Other information about Vanderbilt Mortgage And Finance, Inc:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: MARYVILLE, TN, 37804

Footnotes   [ + ]

1. The comparable mortgages control for Vanderbilt Mortgage And Finance, Inc’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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