Lend Smart Mortgage Rates, Fees & Info

Oakdale, MN

LEI: 5493002BHZ2N82ENVH10

Tax ID: 20-4224234

4.2 stars - out of 5 stars, based on 56 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Lend Smart Mortgage is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Lend Smart Mortgage 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 include Minneapolis, Phoenix, Rapid City, Boise City, and Duluth among others. Lend Smart Mortgage has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Lend Smart Mortgage is typically an average fee lendor.


Originations

3,180

Origination Dollar Volume (All Markets)

$828,940,000
Show all (8) awards

Relative Rate

Lend Smart Mortgage 's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Lend Smart Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,649.

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 908 $252,780,000 $278,392 $5,167 2.98%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 599 $182,545,000 $304,750 $4,640 3.07%
RAPID CITY, SD (FHA|USDA|VA) 258 $64,430,000 $249,729 $6,772 2.94%
BOISE CITY, ID (FHA|USDA|VA) 185 $63,695,000 $344,297 $7,182 3.00%
Outside of Metro Areas 276 $52,260,000 $189,348 $4,655 3.02%
DULUTH, MN-WI (FHA|USDA|VA) 191 $36,615,000 $191,702 $4,496 3.25%
TUCSON, AZ (FHA|USDA|VA) 154 $31,220,000 $202,727 $6,464 3.21%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 59 $15,575,000 $263,983 $8,160 3.42%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 44 $12,010,000 $272,955 $6,749 3.05%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 59 $8,785,000 $148,898 $5,574 3.10%
Brainerd, MN (FHA|USDA|VA) 36 $7,980,000 $221,667 $5,423 3.05%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 25 $7,715,000 $308,600 $5,333 3.21%
Bemidji, MN (FHA|USDA|VA) 22 $4,750,000 $215,909 $5,641 3.16%
Spearfish, SD (FHA|USDA|VA) 17 $4,225,000 $248,529 $7,248 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 19 $4,165,000 $219,211 $5,221 3.42%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 15 $3,015,000 $201,000 $5,683 3.51%
Faribault-Northfield, MN (FHA|USDA|VA) 13 $2,915,000 $224,231 $6,051 2.98%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 12 $2,720,000 $226,667 $5,571 3.22%
FLAGSTAFF, AZ (FHA|USDA|VA) 7 $2,295,000 $327,857 $4,361 3.20%
ST. CLOUD, MN (FHA|USDA|VA) 13 $2,235,000 $171,923 $4,491 3.01%
ROCHESTER, MN (FHA|USDA|VA) 11 $2,195,000 $199,545 $4,317 3.09%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 6 $2,070,000 $345,000 $5,788 2.98%
MADISON, WI (FHA|USDA|VA) 13 $1,995,000 $153,462 $3,480 3.20%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $1,975,000 $395,000 $3,694 3.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 4 $1,740,000 $435,000 $7,871 2.97%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,735,000 $347,000 $9,882 3.03%
Menomonie, WI (FHA|USDA|VA) 9 $1,705,000 $189,444 $3,862 2.93%
Show Low, AZ (FHA|USDA|VA) 6 $1,670,000 $278,333 $4,325 2.96%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 5 $1,665,000 $333,000 $7,442 3.28%
MANKATO, MN (FHA|USDA|VA) 7 $1,605,000 $229,286 $6,149 3.36%
EAU CLAIRE, WI (FHA|USDA|VA) 8 $1,600,000 $200,000 $3,999 3.02%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 7 $1,535,000 $219,286 $3,414 3.04%
Nogales, AZ (FHA|USDA|VA) 8 $1,430,000 $178,750 $5,512 3.11%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $1,420,000 $355,000 $8,240 3.50%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,420,000 $710,000 $12,510 3.06%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,415,000 $471,667 $9,532 3.29%
Red Wing, MN (FHA|USDA|VA) 6 $1,320,000 $220,000 $4,749 3.31%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,260,000 $630,000 $10,746 3.19%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $1,210,000 $201,667 $3,288 3.00%
Grand Rapids, MN (FHA|USDA|VA) 9 $1,185,000 $131,667 $4,975 3.03%
YUMA, AZ (FHA|USDA|VA) 5 $1,115,000 $223,000 $5,012 3.48%
BELLINGHAM, WA (FHA|USDA|VA) 3 $1,065,000 $355,000 $3,433 3.17%
PUNTA GORDA, FL (FHA|USDA|VA) 5 $1,055,000 $211,000 $3,313 3.18%
FORT COLLINS, CO (FHA|USDA|VA) 2 $1,010,000 $505,000 $9,261 3.06%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $910,000 $227,500 $5,323 3.19%
Gillette, WY (FHA|USDA|VA) 3 $895,000 $298,333 $6,424 3.38%
GRAND FORKS, ND-MN (FHA|USDA|VA) 6 $870,000 $145,000 $4,488 3.21%
FARGO, ND-MN (FHA|USDA|VA) 4 $860,000 $215,000 $3,872 3.34%
Alexandria, MN (FHA|USDA|VA) 3 $785,000 $261,667 $3,181 3.13%
FAYETTEVILLE, NC (FHA|USDA|VA) 5 $785,000 $157,000 $5,739 3.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $785,000 $261,667 $5,506 2.79%
Albert Lea, MN (FHA|USDA|VA) 3 $735,000 $245,000 $9,699 3.17%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $730,000 $365,000 $4,892 3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $725,000 $241,667 $6,396 2.92%
STOCKTON, CA (FHA|USDA|VA) 1 $705,000 $705,000 $12,925 3.00%
BILLINGS, MT (FHA|USDA|VA) 3 $625,000 $208,333 $5,323 3.08%
Hutchinson, MN (FHA|USDA|VA) 3 $625,000 $208,333 $6,069 3.21%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $620,000 $310,000 $3,044 2.56%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $605,000 $201,667 $2,204 2.71%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $590,000 $295,000 $15,183 2.56%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $555,000 $555,000 $27,282 2.88%
Mountain Home, ID (FHA|USDA|VA) 2 $550,000 $275,000 $6,173 2.44%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $545,000 $545,000 $13,941 3.25%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $545,000 $545,000 $3,500 3.00%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $545,000 $545,000 $10,332 3.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $520,000 $260,000 $3,689 2.75%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $505,000 $505,000 $8,667 3.13%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $485,000 $485,000 $9,321 3.75%
Willmar, MN (FHA|USDA|VA) 2 $470,000 $235,000 $3,279 3.31%
New Ulm, MN (FHA|USDA|VA) 3 $465,000 $155,000 $5,056 2.83%
MEDFORD, OR (FHA|USDA|VA) 2 $450,000 $225,000 $4,947 3.38%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $440,000 $220,000 $6,856 3.44%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 2 $430,000 $215,000 $3,618 2.88%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $405,000 $405,000 $5,138 3.25%
Fergus Falls, MN (FHA|USDA|VA) 1 $405,000 $405,000 $2,372 3.13%
MERCED, CA (FHA|USDA|VA) 1 $405,000 $405,000 $4,367 3.25%
SIOUX FALLS, SD (FHA|USDA|VA) 2 $390,000 $195,000 $5,780 2.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $390,000 $195,000 $4,768 3.38%
Bozeman, MT (FHA|USDA|VA) 1 $385,000 $385,000 $9,112 3.25%
Owatonna, MN (FHA|USDA|VA) 2 $370,000 $185,000 $6,379 2.88%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $365,000 $365,000 $18,813 2.25%
Pierre, SD (FHA|USDA|VA) 2 $360,000 $180,000 $4,630 2.63%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $355,000 $355,000 $2,576 3.25%
BISMARCK, ND (FHA|USDA|VA) 1 $335,000 $335,000 $6,304 3.25%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $335,000 $335,000 $8,592 2.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $325,000 $325,000 $5,083 3.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $315,000 $315,000 $7,518 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $315,000 $315,000 $2,006 2.75%
MODESTO, CA (FHA|USDA|VA) 2 $310,000 $155,000 $2,914 3.00%
Albemarle, NC (FHA|USDA|VA) 2 $310,000 $155,000 $3,867 3.25%
Sandpoint, ID (FHA|USDA|VA) 1 $305,000 $305,000 $5,510 2.25%
GAINESVILLE, GA (FHA|USDA|VA) 1 $285,000 $285,000 $6,698 3.50%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $275,000 $275,000 $6,032 2.13%
LUBBOCK, TX (FHA|USDA|VA) 1 $265,000 $265,000 $4,679 3.13%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $265,000 $265,000 $3,703 2.50%
Minot, ND (FHA|USDA|VA) 1 $255,000 $255,000 $3,406 3.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $255,000 $255,000 $5,759 2.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $250,000 $125,000 $3,493 2.94%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $245,000 $245,000 $2,813 3.50%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $245,000 $245,000 $5,535 3.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $245,000 $245,000 $2,864 3.38%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $235,000 $235,000 $6,274 3.50%
Corsicana, TX (FHA|USDA|VA) 1 $225,000 $225,000 $11,800 3.63%
APPLETON, WI (FHA|USDA|VA) 1 $225,000 $225,000 $2,693 2.88%
Watertown, SD (FHA|USDA|VA) 1 $215,000 $215,000 $4,987 3.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,900 3.25%
Freeport, IL (FHA|USDA|VA) 2 $210,000 $105,000 $3,473 3.38%
Alamogordo, NM (FHA|USDA|VA) 1 $195,000 $195,000 $6,757 2.25%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $195,000 $195,000 $4,529 3.25%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $195,000 $195,000 $7,043 2.63%
Winona, MN (FHA|USDA|VA) 1 $165,000 $165,000 $9,144 3.00%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $145,000 $145,000 $7,048 2.75%
VALDOSTA, GA (FHA|USDA|VA) 1 $145,000 $145,000 $4,945 3.25%
FRESNO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,514 3.13%
Lumberton, NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,824 3.50%
Cookeville, TN (FHA|USDA|VA) 1 $135,000 $135,000 $3,203 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $125,000 $125,000 $3,092 2.38%
Payson, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $4,551 2.75%
Sterling, IL (FHA|USDA|VA) 1 $115,000 $115,000 $3,018 2.75%
CASPER, WY (FHA|USDA|VA) 1 $85,000 $85,000 $3,580 3.00%
Huron, SD (FHA|USDA|VA) 1 $75,000 $75,000 $4,857 2.75%

Lend Smart Mortgage 's top markets include Minneapolis, Phoenix, Rapid City, Boise City, and Duluth among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,268 $614,160,000 $270,794 $4,634 3.07%
FHA 442 $104,770,000 $237,036 $8,748 3.16%
VA 245 $72,555,000 $296,143 $7,207 2.79%
USDA 225 $37,455,000 $166,467 $4,902 2.96%

For the 2021 period, Lend Smart Mortgage 's most frequently originated loan type of loans were Conventional, with 2,268 originations. Their 2nd most popular type is FHA, with 442 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,651 $452,005,000 $273,776 $6,500 3.13%
Refi 895 $208,985,000 $233,503 $3,881 2.87%
Cash Out Refi 634 $167,950,000 $264,905 $4,790 3.13%

For the 2021, Lend Smart Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,651 originations. The 2nd most popular reason of loans were Refi, with 895 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,843 $754,055,000 $265,232 $5,649 3.11%
15 Year 249 $54,825,000 $220,181 $3,608 2.56%
20 Year 54 $13,080,000 $242,222 $3,343 2.84%
10 Year 22 $4,110,000 $186,818 $2,998 2.35%
Other 12 $2,870,000 $239,167 $3,453 3.08%

For the 2021, Lend Smart Mortgage 's most frequently cited loan length of loans were 30 Year, with 2,843 originations. The 2nd most popular length of loans were 15 Year, with 249 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,030 $267,340,000 $259,553
$<1k 718 $165,990,000 $231,184
$3k-4k 591 $161,305,000 $272,936
$2k-3k 566 $133,270,000 $235,459
$5k+ 275 $101,035,000 $367,400

$5,649 of loans were Lend Smart Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,030 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,457 $383,815,000 $263,428
2.5-3% 1,340 $349,240,000 $260,627
<2.5% 337 $85,185,000 $252,774
4-5% 46 $10,700,000 $232,609

During 2021, Lend Smart Mortgage 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 1,457 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,668 $467,830,000 $280,474 $5,926 3.06%
$100k-200k 1,012 $158,080,000 $156,206 $4,116 3.05%
$400k-600k 367 $173,295,000 $472,193 $7,071 3.04%
$100,000 or less 105 $8,545,000 $81,381 $3,283 3.06%
$600k-1MM 25 $16,615,000 $664,600 $9,291 3.06%
$1MM+ 3 $4,575,000 $1,525,000 $8,891 3.04%

2021 saw Lend Smart Mortgage place emphasis on $200k-400k loans with 1,668 originations, totaling $467,830,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 885 $209,025,000 $236,186 $5,563 3.08%
$50k or less 822 $154,350,000 $187,774 $5,035 3.05%
$75k-100k 570 $157,700,000 $276,667 $5,743 3.09%
$100k-150k 549 $172,435,000 $314,089 $5,466 3.03%
$150k-250k 258 $92,750,000 $359,496 $5,341 2.99%
$250k+ 95 $42,395,000 $446,263 $5,604 2.96%

Lend Smart Mortgage lent most frequently to those with incomes in the $50k-75k range, with 885 originations. The second most popular income band? $50k or less, with 822 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 617 $159,785,000 $258,971 $4,610 3.00%
30-36% 611 $153,355,000 $250,990 $5,078 3.07%
<20% 212 $51,160,000 $241,321 $4,059 2.87%
44% 156 $40,280,000 $258,205 $5,876 3.20%
38% 134 $31,870,000 $237,836 $5,378 3.12%
43% 132 $36,170,000 $274,015 $5,763 3.09%
41% 132 $39,630,000 $300,227 $6,281 3.11%
39% 122 $35,100,000 $287,705 $5,581 3.18%
50-60% 120 $32,440,000 $270,333 $8,830 3.03%
37% 117 $30,325,000 $259,188 $5,719 3.12%
40% 108 $26,180,000 $242,407 $5,117 3.10%
45% 106 $28,740,000 $271,132 $5,914 3.07%
36% 104 $28,850,000 $277,404 $5,820 3.13%
42% 97 $25,685,000 $264,794 $5,764 3.17%
49% 97 $26,535,000 $273,557 $6,749 3.16%
46% 84 $22,660,000 $269,762 $6,289 2.97%
47% 80 $22,080,000 $276,000 $6,076 3.10%
48% 63 $17,395,000 $276,111 $6,142 3.13%
>60% 5 $1,475,000 $295,000 $7,815 3.03%

Lend Smart Mortgage lent most frequently to those with DTI ratios of 20-30%, with 617 originations. The next most common DTI ratio? 30-36%, with 611 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,734 $704,400,000 $257,644 $5,263 3.05%
Black 214 $61,080,000 $285,421 $7,040 3.18%
Asian 115 $30,745,000 $267,348 $5,756 3.01%
Not provided 67 $18,965,000 $283,060 $5,852 3.10%
American Indian 36 $9,650,000 $268,056 $5,996 3.12%
Not applicable 6 $1,950,000 $325,000 $5,931 3.27%
Asian Indian 3 $1,005,000 $335,000 $6,606 3.08%
Filipino 1 $455,000 $455,000 $7,309 3.50%
Native Hawaiian 2 $250,000 $125,000 $4,445 3.44%
Other Asian 1 $225,000 $225,000 $5,028 3.38%
Vietnamese 1 $215,000 $215,000 $4,955 2.13%

Approval Rates

Total approvals of all applications
89.15%

Lend Smart Mortgage has an average approval rate.

Pick Rate

Approvals leading to origination
79.28%

Lend Smart Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,180 $828,940,000 $260,673

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,180 $828,940,000 $260,673

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 90 $16,160,000 $179,556 $3,492 2.68%
40-60% 383 $87,995,000 $229,752 $3,629 2.85%
60-80% 1,094 $303,450,000 $277,377 $4,711 3.10%
80-100% 1,546 $401,700,000 $259,832 $6,254 3.10%
Over 100% 56 $18,320,000 $327,143 $12,202 2.94%
Under 20% 11 $1,315,000 $119,545 $3,100 2.70%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Lend Smart Mortgage, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%