We compare mortgage interest rate and loan related closing costs at The Mortgage Firm, Inc. with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (+0.01%)
Loan Related Closing Costs: similar to average (+$113)
Assessment: this lender tends to be a average cost lender.
This scoreboard is based on data reported to FFIEC. In the data, The Mortgage Firm, Inc. originated 7374 mortgages, a national market share of 0.1%. It was most active in FL (1.5% market share), TN (0.2% market share), and AL (0.1% market share).
On average, The Mortgage Firm, Inc.’s interest rates were similar to those of comparable mortgages at other lenders (+0.01%).3The comparable mortgages control for The Mortgage Firm, 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 $5335, which was similar to those of comparable mortgages at $5222, with a difference of +$113. Overall, we estimate that The Mortgage Firm, Inc. tends to be an average cost lender, with a cost-adjusted-rate difference of +0.02% compared to comparable mortgages at other lenders.4Cost 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. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with The Mortgage Firm, Inc..
The Mortgage Firm, Inc. originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming and FHA 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 The Mortgage Firm, Inc. compared to other lenders
|Interest Rate Difference||-0.01%||+0.00%||+0.26%||+0.03%||+0.04%|
|Loan related Closing Cost Difference||+$88||+$225||-$250||+$277||+$224|
|Cost Adjusted Rate Difference||+0.01%||+0.02%||+0.25%||+0.06%||+0.05%|
Based on the table above, The Mortgage Firm, Inc. is similar to other lenders for Conforming and FHA purchase mortgages. It is more expensive than other lenders for Jumbo, USDA and VA purchase mortgages.
Mortgage Refinancing from The Mortgage Firm, Inc. compared to other lenders
|Interest Rate Difference||+0.04%||+0.01%|
|Loan Related Closing Cost Difference||-$163||+$29|
|Cost Adjusted Rate Difference||+0.03%||+0.00%|
Based on the table above, The Mortgage Firm, Inc. is similar to other lenders for Conforming and FHA mortgage refinance.
Other information about The Mortgage Firm, Inc.:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: Altamonte Springs, FL, 32714