Simple Hard Money Mortgage Rates, Fees & Info
SYRACUSE, UTLEI: 254900F6LP1F751HFC64
Tax ID: 45-3959352
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Mortgage Data
Review & Overview
Simple Hard Money is a smaller mortgage company specializing in Home Purchase loans. Simple Hard Money has a high proportion of conventional loans. Their top markets by origination volume include: Ogden, Salt Lake City, Vernal, and Logan among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Simple Hard Money has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
37Origination Dollar Volume (All Markets)
$6,055,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 23 | $3,525,000 | $153,261 | $0 | 11.96% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 12 | $2,210,000 | $184,167 | $0 | 12.00% |
| Vernal, UT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 12.00% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 12.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $6,055,000 | $163,649 | $0 | 11.97% |
For 2019, Simple Hard Money's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 33 | $4,925,000 | $149,242 | $0 | 11.97% |
| Refi | 4 | $1,130,000 | $282,500 | $0 | 12.00% |
For 2019, Simple Hard Money's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 34 | $5,740,000 | $168,824 | $0 | 11.97% |
| Other | 3 | $315,000 | $105,000 | $0 | 12.00% |
For 2019, Simple Hard Money's most frequently cited loan duration was 1 Year, with 34 originations. The 2nd most popular length was Other, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 37 | $6,055,000 | $163,649 |
During 2019, Simple Hard Money's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 37 originations.
Loan Sizing
2019 saw Simple Hard Money place emphasis on $100k-200k loans with 25 originations, totaling $3,775,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 36 | $5,840,000 | $162,222 | $0 | 11.97% |
Simple Hard Money lent most frequently to those with incomes in the $50k or less range, with 36 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1 | $155,000 | $155,000 | $0 | 12.00% |
Simple Hard Money lent most frequently to those with DTI ratios of <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Simple Hard Money has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.89%
Simple Hard Money has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 37 | $6,055,000 | $163,649 |