Member Home Loan Mortgage Interest Rate and Cost Review

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

Interest Ratelower than average (-0.24%)
Loan Related Closing Costshigher than average (+$797)
National Rate and Closing Cost Rating(4.5)
Websitehttps://mhl.mymortgage-online.com

On average, Member Home Loan’s interest rates were lower than those of other lenders (-0.24%) for a comparable set of borrowers. Its average total loan related closing cost was higher than those of other lenders, with a difference of +$797. Overall, combining interest rates and closing costs we estimate that Member Home Loan tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.

Member Home Loan’s Rates by Area

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

  1. Houston, TX
  2. Dallas, TX
  3. Fort Worth, TX
  4. San Antonio, TX
  5. St. Louis, MO

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

Member Home Loan’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, Member Home Loan originated Conforming, FHA and Jumbo mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for 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 MortgagesConformingFHAJumbo
Interest Rate Difference-0.19%-0.10%-0.01%
Loan Related Closing Cost Difference+$1182+$265+$892
Cost Adjusted Rate Difference-0.12%-0.07%+0.01%
Star Rating(4.0)(4.0)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.35%-0.01%
Loan Related Closing Cost Difference+$483+$483
Cost Adjusted Rate Difference-0.31%-0.00%
Star Rating(5.0)(3.5)

As a summary, Member Home Loan is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing mortgages, Member Home Loan is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Member Home Loan:

Registered name: Member Home Loan
Registered city and state: Houston, TX, 77065
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 Member Home Loan’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.