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 a low ratio of USDA loans. Their top markets by origination volume include: Nashville, Charleston, Lewisburg, Clarksville, and Chattanooga among others. We have data for 10 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.

    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

    141

    Origination Dollar Volume (All Markets)

    $57,215,000

    Awards

    SHELTER LENDING SERVICES 30 Year Conventional Loans gold SHELTER LENDING SERVICES 30 Year Conventional Loans silver
    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 83 $39,735,000 $478,735 $4,692 5.09%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 42 $12,370,000 $294,524 $4,566 4.82%
    Lewisburg, TN (FHA|USDA|VA) 4 $1,590,000 $397,500 $2,664 5.25%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $1,030,000 $515,000 $6,021 5.25%
    Outside of Metro Areas 3 $825,000 $275,000 $2,748 5.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 3 $805,000 $268,333 $3,691 4.33%
    COLUMBIA, SC (FHA|USDA|VA) 1 $355,000 $355,000 $5,616 2.99%
    Cookeville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $8,443 5.75%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $205,000 $205,000 $3,108 5.38%
    Orangeburg, SC (FHA|USDA|VA) 1 $55,000 $55,000 $3,808 4.99%
    Shelter Lending Services's top markets include Nashville, Charleston, Lewisburg, Clarksville, and Chattanooga among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • South Carolina (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.

    US COMMUNITY
    Similarity Rank: 295
    Barley Mortgage, LLC
    Similarity Rank: 444
    First Farmers and Merchants Bank
    Similarity Rank: 456
    LGE COMMUNITY
    Similarity Rank: 594
    Listerhill Credit Union
    Similarity Rank: 858
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 868
    The Bank of South Carolina
    Similarity Rank: 1410
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 1512
    The Farmers Bank
    Similarity Rank: 1545
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 1922

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 132 $51,580,000 $390,758 $4,496 5.01%
    VA 8 $5,390,000 $673,750 $5,295 4.53%
    USDA 1 $245,000 $245,000 $8,443 5.75%

    For 2022, Shelter Lending Services's most frequently originated type of loan was Conventional, with 132 originations. Their 2nd most popular type was VA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 111 $46,875,000 $422,297 $4,697 5.15%
    Cash Out Refi 22 $8,290,000 $376,818 $3,870 4.36%
    Refi 8 $2,050,000 $256,250 $4,708 4.42%

    For 2022, Shelter Lending Services's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 131 $54,025,000 $412,405 $4,589 5.08%
    15 Year 5 $2,155,000 $431,000 $5,223 3.75%
    10 Year 3 $585,000 $195,000 $2,958 3.29%
    20 Year 2 $450,000 $225,000 $4,048 4.56%

    For 2022, Shelter Lending Services's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 63 $27,595,000 $438,016
    $1k-2k 45 $17,225,000 $382,778
    $4k-5k 10 $3,510,000 $351,000
    $2k-3k 9 $2,455,000 $272,778
    $3k-4k 9 $3,285,000 $365,000
    $5k+ 5 $3,145,000 $629,000

    Shelter Lending Services's average total fees were $4,589, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 63 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 53 $20,275,000 $382,547
    4-5% 36 $14,890,000 $413,611
    3-4% 27 $10,285,000 $380,926
    6-7% 16 $6,830,000 $426,875
    7-8% 5 $2,515,000 $503,000
    2.5-3% 4 $2,420,000 $605,000

    During 2022, Shelter Lending Services's average interest rate for loans was 5.08%, while their most frequently originated rate bucket for loans was 5-6%, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 61 $17,645,000 $289,262 $4,266 4.91%
    $400k-600k 40 $18,980,000 $474,500 $4,471 5.12%
    $100k-200k 16 $2,520,000 $157,500 $3,249 5.15%
    $600k-1MM 14 $9,140,000 $652,857 $5,779 4.79%
    $1MM+ 7 $8,725,000 $1,246,429 $8,927 5.02%
    $100,000 or less 3 $205,000 $68,333 $3,267 4.79%

    2022 saw Shelter Lending Services place emphasis on $200k-400k loans with 61 originations, totaling $17,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 141 $57,215,000 $405,780 $4,569 4.99%

    Shelter Lending Services lent most frequently to those with incomes in the $50k or less range, with 141 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $14,660,000 $431,176 $4,290 4.93%
    30-36% 22 $8,320,000 $378,182 $4,361 4.91%
    <20% 12 $5,890,000 $490,833 $4,776 5.11%
    40% 8 $2,200,000 $275,000 $4,536 4.39%
    47% 6 $1,970,000 $328,333 $4,346 4.91%
    46% 6 $2,020,000 $336,667 $6,198 5.79%
    45% 6 $1,630,000 $271,667 $4,568 4.56%
    49% 6 $1,780,000 $296,667 $5,084 4.94%
    48% 6 $2,110,000 $351,667 $4,641 5.08%
    42% 5 $2,145,000 $429,000 $4,232 4.90%
    39% 5 $2,865,000 $573,000 $7,079 5.88%
    44% 5 $1,895,000 $379,000 $3,740 5.70%
    37% 4 $1,800,000 $450,000 $5,152 5.47%
    50-60% 4 $3,430,000 $857,500 $4,644 4.62%
    43% 3 $1,095,000 $365,000 $3,823 5.67%
    41% 3 $865,000 $288,333 $3,402 4.83%
    38% 3 $1,195,000 $398,333 $3,957 3.96%
    36% 3 $1,345,000 $448,333 $3,929 4.42%

    Shelter Lending Services lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 125 $50,945,000 $407,560 $4,614 5.03%
    Not provided 11 $3,735,000 $339,545 $3,581 4.55%
    Black 3 $2,125,000 $708,333 $6,385 4.13%
    American Indian 1 $235,000 $235,000 $5,475 5.63%
    Asian 1 $175,000 $175,000 $3,385 6.99%

    Approval Rates

    Total approvals of all applications
    97.06%

    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
    60.99%

    Shelter Lending Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 141 $57,215,000 $405,780

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    141 $57,215,000 $405,780

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $2,350,000 $293,750 $4,390 4.67%
    40-60% 20 $6,480,000 $324,000 $4,340 5.05%
    60-80% 51 $22,085,000 $433,039 $4,474 4.87%
    80-100% 59 $25,905,000 $439,068 $4,740 5.11%
    Over 100% 1 $245,000 $245,000 $8,443 5.75%
    Under 20% 2 $150,000 $75,000 $2,996 4.69%