NFM Lending Mortgage Interest Rate and Cost Review

Is NFM Lending a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by NFM Lending to those of other lenders for a comparable set of borrowers. Here is our review of NFM Lending nationally:

Review ItemNFM Lending
Interest Ratesimilar to other lenders (+0.06%)
Loan Related Closing Costssimilar to other lenders (-$19)
National Rate and Closing Cost Star Rating(3)

On average, NFM Lending’s interest rates were similar to those of other lenders (+0.06%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$19. Overall, combining interest rates and closing costs we estimate that NFM Lending tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit NFM Lending, its website is located at: https://nfmlending.com.

NFM Lending’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track NFM Lending was most active in:

  1. Washington, DC
  2. Baltimore, MD
  3. Tampa, FL
  4. Columbus, OH
  5. Phoenix, AZ

NFM Lending’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, NFM Lending originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.07%+0.08%+0.02%+0.01%+0.03%
Loan Related Closing Cost Difference+$29-$268+$9-$74+$81
Cost Adjusted Rate Difference+0.07%+0.06%+0.02%+0.00%+0.04%
National Star Rating(3)(3)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.05%-0.03%+0.01%+0.00%-0.00%
Loan Related Closing Cost Difference+$253-$127+$166-$28-$380
Cost Adjusted Rate Difference+0.07%-0.04%+0.01%-0.00%-0.02%
Average Star Rating(3)(3.5)(3.5)(3.5)(3.5)

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

Other information about NFM Lending:

Registered name: NFM, Inc
Registered city and state: Linthicum, MD, 21090
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 NFM Lending’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.