Shelter Lending Services Mortgage Rates, Fees & Info
SPRINGFIELD, ILLEI: 5493000QYMPN362T6V61
Tax ID: 46-0972768
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Shelter Lending Services is a smaller mortgage company specializing in Home Purchase and Refi loans. Shelter Lending Services has a high proportion of conventional loans. Their top markets include Nashville, Charleston, Memphis, Columbia, and Chattanooga among others. Shelter Lending Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Shelter Lending Services is typically an average fee lendor.Originations
344Origination Dollar Volume (All Markets)
$127,400,000Relative Rate
Shelter Lending Services 's average 30 year fixed rate mortgage of loans were
3.18%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.03%.
Relative Fees
Shelter Lending Services 's average total fees for a 30 year fixed rate
mortgage are $3,976.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 203 | $84,185,000 | $414,704 | $3,526 | 3.10% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 112 | $35,520,000 | $317,143 | $4,126 | 3.10% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $6,821 | 3.04% |
| COLUMBIA, SC (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $5,824 | 3.77% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $3,132 | 3.79% |
| Outside of Metro Areas | 3 | $795,000 | $265,000 | $8,796 | 3.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,294 | 2.69% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,173 | 3.31% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $10,403 | 2.99% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,458 | 3.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,936 | 2.69% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,330 | 3.13% |
| Newberry, SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,852 | 2.99% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $7,669 | 2.99% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,343 | 2.88% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,199 | 2.38% |
| McMinnville, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,045 | 4.50% |
| Paris, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,280 | 3.63% |
Shelter Lending Services 's top markets include Nashville, Charleston, Memphis, Columbia, and Chattanooga among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 311 | $114,875,000 | $369,373 | $3,660 | 3.14% |
| VA | 33 | $12,525,000 | $379,545 | $5,500 | 2.85% |
For the 2021 period, Shelter Lending Services 's most frequently originated loan type of loans were Conventional, with 311 originations. Their 2nd most popular type is VA, with 33 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 161 | $65,585,000 | $407,360 | $4,148 | 3.21% |
| Refi | 119 | $40,365,000 | $339,202 | $3,404 | 2.91% |
| Cash Out Refi | 64 | $21,450,000 | $335,156 | $3,855 | 3.24% |
For the 2021, Shelter Lending Services 's most frequently cited loan purpose of loans were Home Purchase, with 161 originations. The 2nd most popular reason of loans were Refi, with 119 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 290 | $112,890,000 | $389,276 | $3,976 | 3.18% |
| 15 Year | 36 | $9,160,000 | $254,444 | $3,001 | 2.63% |
| 20 Year | 9 | $2,825,000 | $313,889 | $3,304 | 3.05% |
| Other | 8 | $2,390,000 | $298,750 | $3,339 | 2.86% |
| 10 Year | 1 | $135,000 | $135,000 | $2,186 | 2.63% |
For the 2021, Shelter Lending Services 's most frequently cited loan length of loans were 30 Year, with 290 originations. The 2nd most popular length of loans were 15 Year, with 36 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 214 | $74,510,000 | $348,178 |
| $1k-2k | 91 | $39,605,000 | $435,220 |
| $3k-4k | 17 | $5,625,000 | $330,882 |
| $2k-3k | 12 | $3,860,000 | $321,667 |
| $5k+ | 10 | $3,800,000 | $380,000 |
$3,976 of loans were Shelter Lending Services 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 214 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 171 | $59,535,000 | $348,158 |
| 2.5-3% | 132 | $56,540,000 | $428,333 |
| <2.5% | 30 | $8,220,000 | $274,000 |
| 4-5% | 10 | $2,880,000 | $288,000 |
| 5-6% | 1 | $225,000 | $225,000 |
During 2021, Shelter Lending Services 's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 171 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 173 | $50,325,000 | $290,896 | $3,572 | 3.11% |
| $400k-600k | 78 | $37,670,000 | $482,949 | $4,484 | 3.13% |
| $100k-200k | 54 | $8,600,000 | $159,259 | $2,905 | 3.08% |
| $600k-1MM | 24 | $18,120,000 | $755,000 | $5,106 | 3.04% |
| $1MM+ | 9 | $12,225,000 | $1,358,333 | $6,146 | 2.90% |
| $100,000 or less | 6 | $460,000 | $76,667 | $2,869 | 3.73% |
2021 saw Shelter Lending Services place emphasis on $200k-400k loans with 173 originations, totaling $50,325,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 77 | $28,485,000 | $369,935 | $3,898 | 3.10% |
| $75k-100k | 72 | $22,310,000 | $309,861 | $4,034 | 3.16% |
| $150k-250k | 62 | $28,110,000 | $453,387 | $3,719 | 3.10% |
| $50k-75k | 55 | $13,825,000 | $251,364 | $3,307 | 3.21% |
| $250k+ | 37 | $25,065,000 | $677,432 | $4,526 | 3.07% |
| $50k or less | 28 | $5,240,000 | $187,143 | $3,664 | 3.08% |
Shelter Lending Services lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $75k-100k, with 72 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 96 | $34,680,000 | $361,250 | $3,683 | 3.13% |
| 30-36% | 54 | $21,200,000 | $392,593 | $3,802 | 3.08% |
| <20% | 37 | $14,765,000 | $399,054 | $3,296 | 2.87% |
| 36% | 17 | $6,975,000 | $410,294 | $3,136 | 3.29% |
| 39% | 14 | $7,060,000 | $504,286 | $4,736 | 3.28% |
| 46% | 13 | $4,725,000 | $363,462 | $4,615 | 3.29% |
| 41% | 12 | $3,890,000 | $324,167 | $3,780 | 3.26% |
| 42% | 10 | $4,370,000 | $437,000 | $3,502 | 3.01% |
| 38% | 10 | $4,050,000 | $405,000 | $6,380 | 3.36% |
| 40% | 10 | $4,240,000 | $424,000 | $3,760 | 3.24% |
| 44% | 10 | $2,470,000 | $247,000 | $4,231 | 3.02% |
| 49% | 9 | $2,885,000 | $320,556 | $3,411 | 3.08% |
| 48% | 9 | $2,965,000 | $329,444 | $3,006 | 3.25% |
| 47% | 8 | $2,000,000 | $250,000 | $3,123 | 3.34% |
| 43% | 8 | $2,050,000 | $256,250 | $4,294 | 3.13% |
| 37% | 8 | $2,740,000 | $342,500 | $5,136 | 3.17% |
| 45% | 7 | $2,175,000 | $310,714 | $3,140 | 3.05% |
| 50-60% | 2 | $430,000 | $215,000 | $3,016 | 2.88% |
| >60% | 1 | $455,000 | $455,000 | $17,861 | 3.13% |
Shelter Lending Services lent most frequently to those with DTI ratios of 20-30%, with 96 originations. The next most common DTI ratio? 30-36%, with 54 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 279 | $105,515,000 | $378,190 | $3,757 | 3.09% |
| Not provided | 47 | $15,795,000 | $336,064 | $3,487 | 3.28% |
| Black | 9 | $3,535,000 | $392,778 | $6,766 | 3.10% |
| Asian | 7 | $2,135,000 | $305,000 | $4,355 | 3.04% |
| American Indian | 2 | $420,000 | $210,000 | $8,077 | 2.94% |
Approval Rates
Total approvals of all applications95.86%
Shelter Lending Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination74.46%
Shelter Lending Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 344 | $127,400,000 | $370,349 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 344 | $127,400,000 | $370,349 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 20 | $5,090,000 | $254,500 | $2,918 | 2.75% |
| 40-60% | 63 | $21,275,000 | $337,698 | $3,489 | 3.01% |
| 60-80% | 137 | $52,545,000 | $383,540 | $3,757 | 3.19% |
| 80-100% | 116 | $45,280,000 | $390,345 | $3,771 | 3.15% |
| Over 100% | 7 | $2,875,000 | $410,714 | $12,307 | 2.98% |
| Under 20% | 1 | $335,000 | $335,000 | $3,210 | 2.88% |
