Ready Mortgage Lenders Miami Interest Rate and Cost Review

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

Review ItemReady Mortgage Lenders Miami
Interest Ratehigher than other lenders (+0.19%)
Loan Related Closing Costshigher than other lenders (+$1035)
National Rate and Closing Cost Star Rating(2.5)

On average, Ready Mortgage Lenders Miami’s interest rates were higher than those of other lenders (+0.19%). Its loan related closing costs were also higher than those of other lenders, with a difference of +$1035. Overall, combining interest rates and closing costs we estimate that Ready Mortgage Lenders Miami tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 2.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Ready Mortgage Lenders Miami, check out its website at:

Ready Mortgage Lenders Miami’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 Ready Mortgage Lenders Miami was most active in:

  1. Miami, FL
  2. Cape Coral, FL
  3. Tampa, FL
  4. Port St. Lucie, FL
  5. Orlando, FL

Ready Mortgage Lenders Miami’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, Ready Mortgage Lenders Miami originated Conforming, FHA 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 MortgagesConformingFHAVA
Interest Rate Difference+0.27%+0.15%+0.03%
Loan Related Closing Cost Difference+$1079+$1233+$21
Cost Adjusted Rate Difference+0.34%+0.22%+0.03%
National Star Rating(2)(2.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference+0.22%+0.04%+0.00%
Loan Related Closing Cost Difference+$287+$331-$23
Cost Adjusted Rate Difference+0.24%+0.06%-0.00%
Average Star Rating(2.5)(3)(3.5)

As a summary, Ready Mortgage Lenders Miami is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages. For refinancing, Ready Mortgage Lenders Miami is similar to other lenders for VA mortgage refinance. It is more expensive than other lenders for Conforming and FHA 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 Ready Mortgage Lenders Miami:

Registered name: Ready Mortgage Lenders
Registered city and state: Miami, FL, 33126
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 Ready Mortgage Lenders Miami’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.