Shelter Lending Services Mortgage Rates, Fees & Info
SPRINGFIELD, ILLEI: 5493000QYMPN362T6V61
Tax ID: 46-0972768
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Mortgage Data
Review & Overview
Shelter Lending Services is a smaller mortgage company specializing in Refi and Home Purchase loans. Shelter Lending Services has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Nashville, Atlanta, Charleston, Lewisburg, and Jefferson among others. We have data for 28 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
748Origination Dollar Volume (All Markets)
$244,100,000Awards
SHELTER LENDING SERVICES - 2020
SHELTER LENDING SERVICES is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 347 | $127,435,000 | $367,248 | $3,067 | 3.17% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 202 | $62,320,000 | $308,515 | $4,340 | 3.38% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 146 | $39,940,000 | $273,562 | $3,700 | 3.11% |
| Outside of Metro Areas | 10 | $3,110,000 | $311,000 | $4,461 | 3.29% |
| Lewisburg, TN (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $2,686 | 3.23% |
| Jefferson, GA (FHA|USDA|VA) | 5 | $1,005,000 | $201,000 | $4,073 | 3.58% |
| GAINESVILLE, GA (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $3,781 | 3.37% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $4,111 | 3.21% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $5,417 | 2.99% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $3,300 | 3.56% |
| SUMTER, SC (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $2,681 | 2.87% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,618 | 2.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,948 | 3.18% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,789 | 3.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,570 | 3.38% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,466 | 3.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,520 | 3.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $8,194 | 2.50% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,321 | 3.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,018 | 3.00% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,800 | 2.99% |
| DALTON, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,332 | 2.50% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,653 | 2.99% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,948 | 3.13% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,415 | 3.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,284 | 3.63% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,603 | 2.99% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,444 | 5.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 703 | $228,835,000 | $325,512 | $3,506 | 3.23% |
| VA | 44 | $15,170,000 | $344,773 | $5,278 | 2.99% |
| USDA | 1 | $95,000 | $95,000 | $3,692 | 3.75% |
For 2020, Shelter Lending Services's most frequently originated type of loan was Conventional, with 703 originations. Their 2nd most popular type was VA, with 44 originations.
Loan Reason
For 2020, Shelter Lending Services's most frequently cited loan purpose was Refi, with 327 originations. The 2nd most popular reason was Home Purchase, with 317 originations.
Loan Duration/Length
For 2020, Shelter Lending Services's most frequently cited loan duration was 30 Year, with 582 originations. The 2nd most popular length was 15 Year, with 92 originations.
Origination Fees/Closing Costs
Shelter Lending Services's average total fees were $3,681, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 500 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 424 | $136,190,000 | $321,203 |
| 2.5-3% | 271 | $93,055,000 | $343,376 |
| <2.5% | 27 | $9,285,000 | $343,889 |
| 4-5% | 21 | $4,895,000 | $233,095 |
| 5-6% | 5 | $675,000 | $135,000 |
During 2020, Shelter Lending Services's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 424 originations.
Loan Sizing
2020 saw Shelter Lending Services place emphasis on $200k-400k loans with 444 originations, totaling $131,460,000 in origination value.
Applicant Income
Shelter Lending Services lent most frequently to those with incomes in the $100k-150k range, with 207 originations. The second most popular income band? $150k-250k, with 164 originations.
Applicant Debt to Income Ratio
Shelter Lending Services lent most frequently to those with DTI ratios of 20-30%, with 220 originations. The next most common DTI ratio? 30-36%, with 138 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.98%
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 origination79.14%
Shelter Lending Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 748 | $244,100,000 | $326,337 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 748 | $244,100,000 | $326,337 |