Mortgage Solutions Financial Interest Rate and Cost Review

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

Review ItemMortgage Solutions Financial
Interest Ratehigher than other lenders (+0.17%)
Loan Related Closing Costshigher than other lenders (+$365)
National Rate and Closing Cost Star Rating(2.5)

On average, Mortgage Solutions Financial’s interest rates were higher than those of other lenders (+0.17%). Its loan related closing costs were also higher than those of other lenders, with a difference of +$365. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Mortgage Solutions Financial, check out its website at:

Mortgage Solutions Financial’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Mortgage Solutions Financial was most active in:

  1. Colorado Springs, CO
  2. Pueblo, CO
  3. Los Angeles, CA
  4. Seattle, WA
  5. Fort Collins, CO

In addition, Mortgage Solutions Financial is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

Mortgage Solutions Financial’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, Mortgage Solutions Financial 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.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.08%+0.15%+0.02%+0.04%+0.36%
Loan Related Closing Cost Difference+$437+$337+$66+$81+$367
Cost Adjusted Rate Difference+0.11%+0.18%+0.02%+0.04%+0.39%
National Star Rating(3)(2.5)(3.5)(3.5)(1.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.07%+0.09%+0.03%+0.00%+0.12%
Loan Related Closing Cost Difference+$416+$389+$126+$9+$367
Cost Adjusted Rate Difference+0.10%+0.12%+0.03%+0.00%+0.14%
Average Star Rating(3)(3)(3.5)(3.5)(3)

As a summary, Mortgage Solutions Financial is similar to other lenders for Jumbo and USDA purchase mortgages. It is more expensive than other lenders for Conforming, FHA and VA purchase mortgages. For refinancing, Mortgage Solutions Financial is similar to other lenders for Jumbo and USDA mortgage refinance. It is more expensive than other lenders for Conforming, FHA and VA 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 Mortgage Solutions Financial:

Registered name: Mortgage Solutions of Colorado
Registered city and state: Colorado Springs, CO, 80918
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 Mortgage Solutions Financial’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.