What loan types does Open Mortgage offer?

Open Mortgage offers the following mortgage loan types: FHA, Conventional, VA, usda. Each product has its own pricing score and performance metrics.

Where does Open Mortgage offer mortgages?

Open Mortgage offers mortgages in 36 states: AL, AR, AZ, CA, CO, FL, GA, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, NC, ND, NE, NJ, NM, NV, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WA, WY.

How competitive are Open Mortgage's mortgage rates?

Open Mortgage has an overall pricing score of 14.2/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is Open Mortgage?

Open Mortgage is a Independent Mortgage Company headquartered in AUSTIN, TX.

Unclaimed

Open Mortgage

Independent Mortgage Company•Austin, TXHQ•Direct•Reviews near you on Google

We analyzed every closed loan from Open Mortgage — 694 loans across 2k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.

Ratings· each scored 1–5 against peer lenders

Pricing

Mediocre

1/5

vs. all lenders

Pull-through

Acceptable

2/5

closing strength

Product

Strong

4/5

FHA · Conventional · VA · USDA

Place

Sound

3/5

Near-National · 13 mkts

Summary

What They Do Well

Nationwide availability with consistent service

Things to Think About

Rates typically 85 basis points above market average
Higher than average fees ($4,186)
Pull through efficiency is below industry average

Explore another lender or local market

Report Card

Open Mortgage performance at a glance

Overall Performance· Pricing & closing strength

Pricing

Rate competitiveness

Mediocre

+85.1 bps above market avg

Pull Through

Closing strength

Acceptable

Bottom 40% of lenders

By Loan Product· Specialization by type

Conventional

Sound

Top 60% of lenders

FHA

Strong

Top 40% of lenders

Sound

Top 60% of lenders

USDA

Sound

Top 60% of lenders

By Loan Purpose· Transaction purpose mix

Purchase

Sound

Top 60% of lenders

Refinance

Sound

Top 60% of lenders

By Location· Geographic coverage

Geographic Reach

Near-National · 14 markets

Sound

Top 60% of lenders

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Acceptable	Sound	Mediocre	Acceptable	208	30.0%	+0.621%Above	$4,291Fees
FHA Loans	Sound	Strong	Mediocre	Sound	431	62.1%	+1.019%Above	$4,226Fees
VA Loans	Acceptable	Sound	Mediocre	Acceptable	32	4.6%	-0.107%Below	$3,481Fees
USDA Loans	Acceptable	Sound	—	Mediocre	15	2.2%	+0.851%Above	$2,443Fees

Conventional

Overall

Acceptable

Product

Sound

Pricing

Mediocre

Pull Through

Acceptable

Volume208

Mix30.0%

Spread

+0.621%Above

Fees

$4,291Fees

FHA Loans

Overall

Sound

Product

Strong

Pricing

Mediocre

Pull Through

Sound

Volume431

Mix62.1%

Spread

+1.019%Above

Fees

$4,226Fees

VA Loans

Overall

Acceptable

Product

Sound

Pricing

Mediocre

Pull Through

Acceptable

Volume32

Mix4.6%

Spread

-0.107%Below

Fees

$3,481Fees

USDA Loans

Overall

Acceptable

Product

Sound

Pricing—

Pull Through

Mediocre

Volume15

Mix2.2%

Spread

+0.851%Above

Fees

$2,443Fees

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Acceptable	Sound	Mediocre	Acceptable	605	87.2%	+0.901%Above	$4,343Fees
Refinance	Acceptable	Sound	Acceptable	Acceptable	89	12.8%	+0.430%Above	$2,884Fees

Purchase

Overall

Acceptable

Product

Sound

Pricing

Mediocre

Pull Through

Acceptable

Volume605

Mix87.2%

Spread

+0.901%Above

Fees

$4,343Fees

Refinance

Overall

Acceptable

Product

Sound

Pricing

Acceptable

Pull Through

Acceptable

Volume89

Mix12.8%

Spread

+0.430%Above

Fees

$2,884Fees

At a Glance

Lender Overview

Lending Activity

Loans Originated

694

Applications

1,827

Volume

$305 million

Pricing & Closing

Avg Rate Spread

+0.851%

vs. market APOR

Avg Net Fees

$4,186

Origination − Credits

Pullthrough Rate

38.0%

Applications → Closed

Typical Borrower

Avg Loan Amount

$440,144

Avg Borrower Income

$148,862

Avg Property Value

$511,210

Geographic Coverage

Geographic Performance

Metro Areas

markets with activity

States Served

of 50 states + DC

Avg Place Specialization

Sound

3/5

States with Loan Originations

Northeast3

MENJPA

Midwest10

ILINKSMIMNMONDNEOHSD

South14

ALARFLGAKYLAMDMSNCOKSCTNTXVA

West9

AZCACONMNVORUTWAWY

Top Metro Areas by Place Specialization Score

1© Eric Polk · CC BY-SA 4.0

Los Angeles, CAMetro

Volume 124Mix 17.87% of portfolio

70/100

Strong

2© Johnwayne Stroud · CC BY-SA 3.0

Riverside, CAMetro

Volume 118Mix 17.00% of portfolio

69/100

Strong

3© JJonahJackalope · CC BY-SA 4.0

Beaumont, TXMetro

Volume 17Mix 2.45% of portfolio

52/100

Sound

4© Medialecent · CC BY 4.0

San Antonio, TXMetro

Volume 22Mix 3.17% of portfolio

49/100

Sound

5© Lasse Fuss · CC BY-SA 3.0

Kansas City, MO, MO-KSMetro

Volume 17Mix 2.45% of portfolio

46/100

Sound

Tampa, FLMetro

Volume 16Mix 2.31% of portfolio

45/100

Sound

Houston, TXMetro

Volume 19Mix 2.74% of portfolio

45/100

Sound

Anaheim, CAMetro

Volume 13Mix 1.87% of portfolio

44/100

Sound

Dallas, TXMetro

Volume 17Mix 2.45% of portfolio

44/100

Sound

Fort Worth, TXMetro

Volume 13Mix 1.87% of portfolio

43/100

Sound

Showing 10 of 13 metro areas

Top States by Place Specialization Score

CaliforniaState

Volume 300Mix 43.23% of portfolio

70/100

Strong

TexasState

Volume 107Mix 15.42% of portfolio

59/100

Sound

FloridaState

Volume 63Mix 9.08% of portfolio

53/100

Sound

KansasState

Volume 17Mix 2.45% of portfolio

47/100

Sound

MissouriState

Volume 22Mix 3.17% of portfolio

46/100

Sound

GeorgiaState

Volume 21Mix 3.03% of portfolio

45/100

Sound

MarylandState

Volume 16Mix 2.31% of portfolio

43/100

Sound

OklahomaState

Volume 13Mix 1.87% of portfolio

42/100

Sound

North CarolinaState

Volume 17Mix 2.45% of portfolio

42/100

Sound

VirginiaState

Volume 15Mix 2.16% of portfolio

42/100

Sound

Showing 10 of 11 states

How We Rank Lenders

Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.

Our Point System (Max 30 Points)

10/ 30 pts

Pricing

Rate and fee competitiveness (33%)

10/ 30 pts

Pull Through

Reliability in closing loans (33%)

10/ 30 pts

Product

Specialization in the loan type (33%)

💎

Champion(80%+ = 24-30 points)

⭐

Superstar(60-79% = 18-23 points)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.

No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

HMDA 2024Built using publicly available originated loan data from the federal government.

Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.