Shelter Lending Services Mortgage Rates, Fees & Info

SPRINGFIELD, IL

LEI: 5493000QYMPN362T6V61

Tax ID: 46-0972768

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Shelter Lending Services is a smaller mortgage company specializing in Home Purchase loans. Shelter Lending Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Nashville, Charleston, Myrtle Beach, and Gainesville among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Shelter Lending Services has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Shelter Lending Services is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.77% 12/16/24
    30 Year Conventional Refi 6.44% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    30 Year VA Purchase 6.42% 12/16/24
    30 Year USDA Purchase 6.78% 12/16/24
    15 Year Conventional Purchase 5.83% 12/16/24
    15 Year Conventional Refi 6.22% 12/16/24
    15 Year Cash-out Refi 6.22% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Shelter Lending Services Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Shelter Lending Services. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    507

    Origination Dollar Volume (All Markets)

    $135,385,000

    Awards

    SHELTER LENDING SERVICES FHA Loans bronze SHELTER LENDING SERVICES 30 Year Conventional Loans bronze
    Show all (2) awards

    Top 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
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 231 $57,385,000 $248,420 $4,768 4.74%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 127 $44,765,000 $352,480 $3,234 4.77%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 97 $22,115,000 $227,990 $4,239 4.87%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 15 $2,305,000 $153,667 $4,413 5.55%
    Outside of Metro Areas 8 $1,980,000 $247,500 $4,124 5.01%
    GAINESVILLE, GA (FHA|USDA|VA) 2 $920,000 $460,000 $4,484 4.38%
    Georgetown, SC (FHA|USDA|VA) 5 $775,000 $155,000 $4,436 5.03%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $650,000 $325,000 $5,296 4.19%
    Alexander City, AL (FHA|USDA|VA) 1 $625,000 $625,000 $4,346 4.13%
    COLUMBIA, SC (FHA|USDA|VA) 2 $610,000 $305,000 $4,929 6.50%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $510,000 $255,000 $5,111 4.54%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $395,000 $395,000 $3,342 6.63%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $370,000 $185,000 $2,561 4.75%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $345,000 $345,000 $5,168 4.88%
    Lewisburg, TN (FHA|USDA|VA) 2 $310,000 $155,000 $2,794 4.88%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $295,000 $295,000 $3,426 4.88%
    SUMTER, SC (FHA|USDA|VA) 1 $195,000 $195,000 $2,745 5.13%
    JACKSON, TN (FHA|USDA|VA) 1 $185,000 $185,000 $2,948 4.75%
    Jefferson, GA (FHA|USDA|VA) 1 $175,000 $175,000 $5,377 4.75%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $155,000 $155,000 $3,693 4.75%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $105,000 $105,000 $2,840 4.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $85,000 $85,000 $2,779 4.75%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $85,000 $85,000 $3,201 5.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $45,000 $45,000 $3,441 5.88%
    Shelter Lending Services's top markets include Atlanta, Nashville, Charleston, Myrtle Beach, and Gainesville among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SHELTER LENDING SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    KELLEY MORTGAGE, LLC
    Similarity Rank: 412
    REV FEDERAL CREDIT UNION
    Similarity Rank: 472
    US COMMUNITY
    Similarity Rank: 555
    First National Bank of Griffin
    Similarity Rank: 592
    Southeast Financial Credit Union
    Similarity Rank: 742
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 750
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
    Similarity Rank: 1120
    Hamilton State Bank
    Similarity Rank: 1194
    CPM Federal Credit Union
    Similarity Rank: 1358
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1495

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 409 $112,285,000 $274,535 $3,761 4.82%
    FHA 67 $13,965,000 $208,433 $6,358 4.90%
    VA 26 $8,290,000 $318,846 $5,878 4.64%
    USDA 5 $845,000 $169,000 $4,219 4.68%

    For 2018, Shelter Lending Services's most frequently originated type of loan was Conventional, with 409 originations. Their 2nd most popular type was FHA, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 452 $118,340,000 $261,814 $4,265 4.81%
    Cash Out Refi 35 $10,455,000 $298,714 $3,870 5.09%
    Refi 19 $6,425,000 $338,158 $3,911 4.35%
    Other 1 $165,000 $165,000 $775 8.00%

    For 2018, Shelter Lending Services's most frequently cited loan purpose was Home Purchase, with 452 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 461 $126,125,000 $273,590 $4,322 4.86%
    15 Year 33 $7,115,000 $215,606 $3,381 4.24%
    20 Year 8 $1,980,000 $247,500 $3,772 4.53%
    5 Year 4 $60,000 $15,000 $150 0.00%
    Other 1 $105,000 $105,000 $3,309 5.50%

    For 2018, Shelter Lending Services's most frequently cited loan duration was 30 Year, with 461 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 255 $62,365,000 $244,569
    $1k-2k 130 $35,070,000 $269,769
    $2k-3k 73 $19,665,000 $269,384
    $3k-4k 26 $9,020,000 $346,923
    $5k+ 16 $7,260,000 $453,750
    $4k-5k 7 $2,005,000 $286,429

    Shelter Lending Services's average total fees were $4,322, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 255 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 373 $104,295,000 $279,611
    5-6% 96 $21,240,000 $221,250
    3-4% 20 $6,280,000 $314,000
    6-7% 6 $1,990,000 $331,667
    7-8% 4 $1,410,000 $352,500
    Over 8% 1 $75,000 $75,000

    During 2018, Shelter Lending Services's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 373 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 218 $62,160,000 $285,138 $4,318 4.72%
    $100k-200k 177 $27,915,000 $157,712 $3,932 4.91%
    $400k-600k 59 $27,205,000 $461,102 $4,919 4.66%
    $100,000 or less 31 $1,905,000 $61,452 $2,750 5.40%
    $600k-1MM 20 $13,910,000 $695,500 $5,686 4.75%
    $1MM+ 2 $2,290,000 $1,145,000 $5,966 5.25%

    2018 saw Shelter Lending Services place emphasis on $200k-400k loans with 218 originations, totaling $62,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 115 $22,155,000 $192,652 $4,267 4.82%
    $100k-150k 111 $32,885,000 $296,261 $4,290 4.76%
    $150k-250k 86 $32,680,000 $380,000 $4,379 4.77%
    $75k-100k 83 $20,455,000 $246,446 $4,066 4.78%
    $50k or less 74 $10,500,000 $141,892 $3,682 4.88%
    $250k+ 35 $16,295,000 $465,571 $4,970 4.87%

    Shelter Lending Services lent most frequently to those with incomes in the $50k-75k range, with 115 originations. The second most popular income band? $100k-150k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $30,460,000 $276,909 $4,207 4.66%
    30-36% 99 $28,165,000 $284,495 $4,247 4.79%
    <20% 49 $10,545,000 $215,204 $3,013 4.87%
    49% 25 $6,465,000 $258,600 $3,999 4.81%
    41% 22 $6,980,000 $317,273 $4,751 4.79%
    50-60% 21 $5,555,000 $264,524 $5,378 4.76%
    43% 21 $4,455,000 $212,143 $3,454 4.96%
    45% 18 $3,650,000 $202,778 $4,591 4.97%
    38% 18 $5,040,000 $280,000 $4,746 5.06%
    44% 18 $5,260,000 $292,222 $4,068 4.78%
    46% 16 $4,540,000 $283,750 $5,999 5.01%
    36% 16 $4,130,000 $258,125 $4,315 4.91%
    39% 15 $3,705,000 $247,000 $4,356 4.87%
    42% 15 $4,535,000 $302,333 $4,119 4.77%
    47% 12 $3,550,000 $295,833 $5,559 4.99%
    48% 12 $3,450,000 $287,500 $3,614 5.09%
    40% 12 $2,600,000 $216,667 $4,049 4.95%
    37% 8 $2,300,000 $287,500 $3,178 4.71%

    Shelter Lending Services lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 428 $119,060,000 $278,178 $4,189 4.79%
    Asian 25 $6,805,000 $272,200 $4,166 4.70%
    Black 40 $6,470,000 $161,750 $4,804 5.08%
    Not provided 12 $2,760,000 $230,000 $3,601 5.14%
    American Indian 1 $175,000 $175,000 $2,836 5.13%
    Not applicable 1 $115,000 $115,000 $3,053 7.63%

    Approval Rates

    Total approvals of all applications
    96.72%

    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 origination
    72.39%

    Shelter Lending Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 507 $135,385,000 $267,032

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $375,000 $125,000
    Single Family (1-4 Units):Site-Built 504 $135,010,000 $267,877

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $3,485,000 $183,421 $3,284 4.70%
    40-60% 45 $10,715,000 $238,111 $3,557 4.55%
    60-80% 154 $46,310,000 $300,714 $4,116 4.89%
    80-100% 273 $72,585,000 $265,879 $4,452 4.84%
    Over 100% 9 $2,195,000 $243,889 $7,250 4.57%
    Under 20% 7 $95,000 $13,571 $188 0.00%