Movement Mortgage Interest Rate and Cost Review

Is Movement Mortgage a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Movement Mortgage with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.02%)
Loan Related Closing Costssimilar to average (+$14)
National Rate and Closing Cost Rating(3.5)
Websitehttps://movement.com

On average, Movement Mortgage’s interest rates were similar to those of other lenders (+0.02%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of +$14. Overall, combining interest rates and closing costs we estimate that Movement Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Movement Mortgage’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Movement Mortgage was most active in:

  1. Charlotte, NC
  2. Seattle, WA
  3. Raleigh, NC
  4. Virginia Beach, VA
  5. Los Angeles, CA

Furthermore, Movement Mortgage is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Asheville, NC, for FHA mortgages
  2. Lynchburg, VA, overall
  3. Lacey, WA, for FHA mortgages
  4. Bremerton, WA, for FHA mortgages
  5. Pinehurst, NC, for FHA mortgages
  6. Elizabeth City, NC, for FHA mortgages
  7. Staunton, VA, for Conforming mortgages
  8. Charleston, WV, overall
  9. Princeton, WV, for Conforming, and FHA mortgages
  10. Plattsburgh, NY, for FHA mortgages

You can click through to check out Movement Mortgage’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Movement Mortgage’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Movement Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.05%-0.04%+0.07%-0.00%+0.08%
Loan Related Closing Cost Difference+$112+$48+$250+$49-$170
Cost Adjusted Rate Difference+0.04%-0.03%+0.07%+0.00%+0.07%
Star Rating(3.5)(3.5)(3.0)(3.5)(3.0)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.02%-0.03%+0.02%+0.00%-0.02%
Loan Related Closing Cost Difference-$116-$275+$140-$37-$565
Cost Adjusted Rate Difference-0.03%-0.05%+0.02%-0.00%-0.05%
Star Rating(3.5)(3.5)(3.5)(3.5)(4.0)

As a summary, Movement Mortgage is similar to other lenders for Conforming, FHA and USDA purchase mortgages. It is more expensive than other lenders for Jumbo and VA purchase mortgages. For refinancing, Movement Mortgage is cheap for VA mortgage refinance. It is similar to other lenders for Conforming, FHA, Jumbo and USDA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Movement Mortgage:

Registered name: Movement Mortgage
Registered city and state: INDIAN LAND, SC, 29707
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Movement Mortgage’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.