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, Chattanooga, and Myrtle Beach among others. We have data for 22 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 an average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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

    539

    Origination Dollar Volume (All Markets)

    $162,805,000

    Awards

    SHELTER LENDING SERVICES FHA Loans gold SHELTER LENDING SERVICES VA Loans silver SHELTER LENDING SERVICES 30 Year Conventional Loans silver
    Show all (3) 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) 236 $67,610,000 $286,483 $4,930 4.20%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 159 $58,355,000 $367,013 $3,089 4.28%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 99 $27,535,000 $278,131 $7,418 4.29%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $2,160,000 $540,000 $10,354 4.16%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 13 $1,775,000 $136,538 $4,734 6.03%
    Sevierville, TN (FHA|USDA|VA) 3 $1,035,000 $345,000 $5,299 6.08%
    Outside of Metro Areas 8 $920,000 $115,000 $3,625 4.08%
    Jefferson, GA (FHA|USDA|VA) 2 $490,000 $245,000 $4,212 4.06%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $410,000 $205,000 $4,169 4.12%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $325,000 $325,000 $3,908 3.50%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $325,000 $325,000 $3,144 4.13%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $285,000 $285,000 $6,115 3.88%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,686 4.25%
    DALTON, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,272 4.00%
    Shelbyville, TN (FHA|USDA|VA) 1 $205,000 $205,000 $3,120 3.63%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $155,000 $155,000 $4,462 4.25%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $155,000 $155,000 $3,148 4.45%
    Georgetown, SC (FHA|USDA|VA) 1 $145,000 $145,000 $3,081 5.25%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $145,000 $145,000 $2,600 3.99%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $125,000 $125,000 $2,753 4.58%
    Orangeburg, SC (FHA|USDA|VA) 1 $115,000 $115,000 $3,027 4.88%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $95,000 $95,000 $2,892 5.38%
    Shelter Lending Services's top markets include Atlanta, Nashville, Charleston, Chattanooga, and Myrtle Beach 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.

    Barley Mortgage, LLC
    Similarity Rank: 48
    US COMMUNITY
    Similarity Rank: 64
    Emory Alliance Credit Union
    Similarity Rank: 516
    First Advantage Bank
    Similarity Rank: 650
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 720
    REV FEDERAL CREDIT UNION
    Similarity Rank: 928
    KELLEY MORTGAGE, LLC
    Similarity Rank: 945
    First Farmers and Merchants Bank
    Similarity Rank: 986
    The Farmers Bank
    Similarity Rank: 1120
    American Security Mortgage Corp.
    Similarity Rank: 1184

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 453 $139,425,000 $307,781 $4,539 4.28%
    FHA 51 $11,415,000 $223,824 $6,783 4.63%
    VA 33 $11,525,000 $349,242 $5,632 4.05%
    USDA 2 $440,000 $220,000 $6,002 3.75%

    For 2019, Shelter Lending Services's most frequently originated type of loan was Conventional, with 453 originations. Their 2nd most popular type was FHA, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 428 $129,550,000 $302,687 $5,048 4.29%
    Refi 59 $21,605,000 $366,186 $4,132 3.86%
    Cash Out Refi 49 $11,625,000 $237,245 $3,994 4.74%
    Other 3 $25,000 $8,333 $0 5.38%

    For 2019, Shelter Lending Services's most frequently cited loan purpose was Home Purchase, with 428 originations. The 2nd most popular reason was Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 500 $153,220,000 $306,440 $4,948 4.35%
    15 Year 28 $7,210,000 $257,500 $3,332 3.68%
    20 Year 5 $1,295,000 $259,000 $3,330 4.13%
    10 Year 2 $460,000 $230,000 $3,360 3.88%
    5 Year 2 $30,000 $15,000 $150 0.00%
    Other 2 $590,000 $295,000 $4,452 3.87%

    For 2019, Shelter Lending Services's most frequently cited loan duration was 30 Year, with 500 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 298 $83,860,000 $281,409
    $1k-2k 112 $35,030,000 $312,768
    $2k-3k 72 $20,630,000 $286,528
    $3k-4k 32 $10,130,000 $316,563
    $5k+ 13 $7,975,000 $613,462
    $4k-5k 12 $5,180,000 $431,667

    Shelter Lending Services's average total fees were $4,948, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 298 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 246 $81,650,000 $331,911
    4-5% 221 $64,245,000 $290,701
    5-6% 49 $11,495,000 $234,592
    6-7% 14 $3,570,000 $255,000
    <2.5% 4 $60,000 $15,000
    7-8% 4 $830,000 $207,500
    Over 8% 1 $955,000 $955,000

    During 2019, Shelter Lending Services's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 3-4%, with 246 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 278 $80,690,000 $290,252 $5,350 4.23%
    $100k-200k 126 $19,350,000 $153,571 $3,891 4.56%
    $400k-600k 70 $32,770,000 $468,143 $4,591 4.00%
    $600k-1MM 31 $22,345,000 $720,806 $5,433 4.51%
    $100,000 or less 29 $1,825,000 $62,931 $2,574 4.25%
    $1MM+ 5 $5,825,000 $1,165,000 $11,549 4.12%

    2019 saw Shelter Lending Services place emphasis on $200k-400k loans with 278 originations, totaling $80,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 124 $38,730,000 $312,339 $4,220 4.15%
    $50k-75k 107 $22,485,000 $210,140 $4,343 4.21%
    $150k-250k 99 $42,355,000 $427,828 $4,453 4.12%
    $75k-100k 78 $21,190,000 $271,667 $3,840 4.36%
    $50k or less 69 $10,665,000 $154,565 $8,077 4.33%
    $250k+ 48 $24,220,000 $504,583 $5,368 4.50%

    Shelter Lending Services lent most frequently to those with incomes in the $100k-150k range, with 124 originations. The second most popular income band? $50k-75k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 134 $40,310,000 $300,821 $4,077 4.03%
    30-36% 95 $30,795,000 $324,158 $4,202 4.34%
    <20% 57 $15,245,000 $267,456 $3,636 4.61%
    44% 24 $7,420,000 $309,167 $4,125 4.25%
    39% 22 $7,270,000 $330,455 $4,355 4.14%
    43% 22 $7,280,000 $330,909 $3,958 4.42%
    50-60% 20 $6,390,000 $319,500 $6,621 4.39%
    42% 19 $5,815,000 $306,053 $4,936 4.51%
    47% 17 $4,565,000 $268,529 $4,189 4.32%
    46% 17 $5,945,000 $349,706 $3,984 4.25%
    37% 17 $5,055,000 $297,353 $3,248 4.45%
    38% 16 $5,750,000 $359,375 $4,121 4.24%
    41% 15 $4,475,000 $298,333 $4,293 4.09%
    40% 15 $4,095,000 $273,000 $4,144 4.36%
    45% 13 $3,345,000 $257,308 $4,084 4.40%
    48% 12 $3,000,000 $250,000 $5,269 4.60%
    49% 12 $2,730,000 $227,500 $31,449 4.08%
    36% 11 $2,995,000 $272,273 $5,143 4.75%
    >60% 1 $325,000 $325,000 $1,979 4.50%

    Shelter Lending Services lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? 30-36%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 459 $141,995,000 $309,357 $4,865 4.26%
    Black 38 $7,410,000 $195,000 $4,697 4.34%
    Asian 14 $6,250,000 $446,429 $4,778 4.62%
    Not provided 21 $5,915,000 $281,667 $4,550 4.82%
    Native Hawaiian or Islander 4 $640,000 $160,000 $3,409 3.43%
    American Indian 2 $460,000 $230,000 $3,946 4.42%
    Not applicable 1 $135,000 $135,000 $4,322 7.63%

    Approval Rates

    Total approvals of all applications
    95.58%

    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
    75.51%

    Shelter Lending Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 539 $162,805,000 $302,050

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $540,000 $135,000
    Single Family (1-4 Units):Site-Built 535 $162,265,000 $303,299

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,205,000 $133,889 $2,992 3.96%
    40-60% 38 $10,960,000 $288,421 $3,946 4.18%
    60-80% 202 $68,770,000 $340,446 $3,979 4.42%
    80-100% 268 $77,740,000 $290,075 $5,709 4.30%
    Over 100% 3 $1,265,000 $421,667 $14,510 4.21%
    Under 20% 8 $190,000 $23,750 $735 2.30%