Lend Smart Mortgage Rates, Fees & Info

Oakdale, MN

LEI: 5493002BHZ2N82ENVH10

Tax ID: 20-4224234

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Lend Smart Mortgage is a smaller mortgage company specializing in Home Purchase loans. Lend Smart Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Minneapolis, Phoenix, Rapid City, Tucson, and Merced among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Lend Smart Mortgage has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Lend Smart Mortgage 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.


    Originations

    91

    Origination Dollar Volume (All Markets)

    $25,295,000

    Awards

    Lend Smart Mortgage 30 Year Conventional Loans silver Lend Smart Mortgage USDA Loans gold
    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 19 $5,915,000 $311,316 $7,133 6.40%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 14 $4,650,000 $332,143 $8,691 6.08%
    Outside of Metro Areas 13 $2,515,000 $193,462 $7,093 6.17%
    RAPID CITY, SD (FHA|USDA|VA) 7 $2,195,000 $313,571 $10,567 6.04%
    TUCSON, AZ (FHA|USDA|VA) 6 $1,600,000 $266,667 $6,866 6.44%
    MERCED, CA (FHA|USDA|VA) 2 $860,000 $430,000 $9,329 7.25%
    RICHMOND, VA (FHA|USDA|VA) 2 $780,000 $390,000 $11,674 6.81%
    ROCHESTER, MN (FHA|USDA|VA) 1 $685,000 $685,000 $19,746 6.63%
    DULUTH, MN-WI (FHA|USDA|VA) 4 $630,000 $157,500 $5,425 6.56%
    Show Low, AZ (FHA|USDA|VA) 1 $525,000 $525,000 $12,321 5.88%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $520,000 $260,000 $9,839 6.06%
    EAU CLAIRE, WI (FHA|USDA|VA) 2 $460,000 $230,000 $7,344 5.56%
    Brainerd, MN (FHA|USDA|VA) 1 $385,000 $385,000 $15,702 6.25%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $365,000 $365,000 $9,789 7.13%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $355,000 $355,000 $17,069 6.25%
    Bemidji, MN (FHA|USDA|VA) 2 $350,000 $175,000 $8,076 6.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $330,000 $165,000 $6,285 6.69%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $330,000 $165,000 $7,549 6.44%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $6,627 7.13%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $305,000 $305,000 $7,098 6.25%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $265,000 $265,000 $7,433 6.50%
    Toccoa, GA (FHA|USDA|VA) 1 $255,000 $255,000 $2,127 6.25%
    Okeechobee, FL (FHA|USDA|VA) 1 $205,000 $205,000 $9,346 6.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,373 6.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $155,000 $155,000 $5,419 7.13%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $115,000 $115,000 $3,456 7.13%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $75,000 $75,000 $2,599 6.50%
    Lend Smart Mortgage's top markets include Minneapolis, Phoenix, Rapid City, Tucson, and Merced among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    North Shore Federal Credit Union
    Similarity Rank: 28
    First Savings Bank of Hegewisch
    Similarity Rank: 46
    South Metro Federal Credit Union
    Similarity Rank: 55
    Eglin Federal Credit Union
    Similarity Rank: 74
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 93
    PIMA Federal Credit Union
    Similarity Rank: 110
    National Bank of Commerce
    Similarity Rank: 192
    Northview Bank
    Similarity Rank: 195
    MY Credit Union
    Similarity Rank: 225
    RiverWood Bank
    Similarity Rank: 264

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $17,185,000 $301,491 $7,464 6.43%
    FHA 15 $3,595,000 $239,667 $10,530 6.41%
    USDA 11 $2,175,000 $197,727 $7,562 5.93%
    VA 8 $2,340,000 $292,500 $7,748 6.02%

    For 2023, Lend Smart Mortgage's most frequently originated type of loan was Conventional, with 57 originations. Their 2nd most popular type was FHA, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 83 $23,135,000 $278,735 $8,056 6.31%
    Cash Out Refi 6 $1,130,000 $188,333 $6,961 6.52%
    Refi 2 $1,030,000 $515,000 $9,083 6.69%

    For 2023, Lend Smart Mortgage's most frequently cited loan purpose was Home Purchase, with 83 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 90 $25,170,000 $279,667 $8,043 6.34%
    15 Year 1 $125,000 $125,000 $4,694 5.75%

    For 2023, Lend Smart Mortgage's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 26 $9,350,000 $359,615
    $<1k 16 $3,610,000 $225,625
    $1k-2k 13 $3,865,000 $297,308
    $2k-3k 13 $2,505,000 $192,692
    $4k-5k 13 $3,545,000 $272,692
    $3k-4k 10 $2,420,000 $242,000

    Lend Smart Mortgage's average total fees were $8,043, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 55 $14,805,000 $269,182
    5-6% 25 $7,335,000 $293,400
    7-8% 10 $2,950,000 $295,000
    4-5% 1 $205,000 $205,000

    During 2023, Lend Smart Mortgage's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 49 $14,095,000 $287,653 $9,046 6.32%
    $100k-200k 26 $4,240,000 $163,077 $4,974 6.42%
    $400k-600k 8 $3,960,000 $495,000 $11,393 6.34%
    $100,000 or less 4 $330,000 $82,500 $4,144 6.00%
    $600k-1MM 4 $2,670,000 $667,500 $12,068 6.16%

    2023 saw Lend Smart Mortgage place emphasis on $200k-400k loans with 49 originations, totaling $14,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 24 $5,660,000 $235,833 $7,484 6.24%
    $75k-100k 20 $4,920,000 $246,000 $8,768 6.30%
    $50k or less 18 $3,780,000 $210,000 $7,033 6.19%
    $100k-150k 13 $4,305,000 $331,154 $8,099 6.61%
    $150k-250k 8 $3,300,000 $412,500 $10,743 6.22%
    $250k+ 8 $3,330,000 $416,250 $6,975 6.66%

    Lend Smart Mortgage lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $75k-100k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 21 $5,755,000 $274,048 $7,052 6.39%
    20-30% 16 $4,500,000 $281,250 $6,085 6.31%
    49% 10 $2,960,000 $296,000 $8,617 6.50%
    50-60% 6 $1,370,000 $228,333 $9,195 6.21%
    44% 5 $1,165,000 $233,000 $8,633 6.18%
    38% 4 $1,410,000 $352,500 $11,089 6.28%
    41% 4 $1,410,000 $352,500 $6,916 6.16%
    46% 4 $890,000 $222,500 $7,736 6.28%
    48% 4 $1,200,000 $300,000 $13,401 6.28%
    37% 3 $585,000 $195,000 $7,523 6.38%
    40% 3 $1,285,000 $428,333 $12,258 6.17%
    42% 2 $660,000 $330,000 $8,422 6.25%
    36% 2 $230,000 $115,000 $5,068 6.31%
    43% 2 $590,000 $295,000 $9,834 6.38%
    47% 2 $530,000 $265,000 $8,975 6.06%
    45% 1 $305,000 $305,000 $7,098 6.25%
    <20% 1 $305,000 $305,000 $6,627 7.13%
    39% 1 $145,000 $145,000 $4,393 6.63%

    Lend Smart Mortgage lent most frequently to those with DTI ratios of 30-36%, with 21 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 78 $21,360,000 $273,846 $7,849 6.33%
    Not provided 5 $1,265,000 $253,000 $11,218 6.15%
    Asian 3 $1,075,000 $358,333 $10,103 6.75%
    Black 4 $880,000 $220,000 $5,681 6.38%
    Native Hawaiian or Islander 1 $715,000 $715,000 $7,267 6.00%

    Approval Rates

    Total approvals of all applications
    89.58%

    Lend Smart Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.54%

    Lend Smart Mortgage 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 91 $25,295,000 $277,967

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    91 $25,295,000 $277,967

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $75,000 $75,000 $2,599 6.50%
    40-60% 4 $1,180,000 $295,000 $6,325 6.72%
    60-80% 16 $4,950,000 $309,375 $6,830 6.38%
    80-100% 65 $17,985,000 $276,692 $8,501 6.33%
    Over 100% 3 $895,000 $298,333 $10,354 5.96%
    Under 20% 2 $210,000 $105,000 $3,881 5.69%