Simplifi Mortgage Rates, Fees & Info
LAS VEGAS, NVLEI: 5493002TUYGC7HBYME91
Tax ID: 83-1407543
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Simplifi Mortgage is a smaller mortgage company specializing in Home Purchase loans. Simplifi Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: Las Vegas, Los Angeles, Prescott Valley, Phoenix, and Pahrump among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Simplifi Mortgage 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. Simplifi Mortgage is typically a high 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 relatively high 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 | 6.72% | 11/21/24 |
| 30 Year Conventional Refi | 7.62% | 11/21/24 |
| 30 Year Cash-out Refi | 6.25% | 11/21/24 |
| 30 Year VA Purchase | 6.44% | 11/21/24 |
| 30 Year VA Refi | 5.93% | 11/21/24 |
| 15 Year Conventional Purchase | 6.14% | 11/21/24 |
| 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. | ||
Simplifi Mortgage Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Simplifi Mortgage. 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
33Origination Dollar Volume (All Markets)
$15,755,000Relative Rate
Simplifi Mortgage's average 30 year fixed mortgage rate was
6.73%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.25%.
Relative Fees (Closing Costs)
Simplifi Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,565.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 29 | $13,715,000 | $472,931 | $10,418 | 6.74% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $26,328 | 6.63% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $1,844 | 6.99% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $11,538 | 6.27% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,788 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against SIMPLIFI MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 184
Similarity Rank: 330
Similarity Rank: 333
Similarity Rank: 356
Similarity Rank: 735
Similarity Rank: 780
Similarity Rank: 1442
Similarity Rank: 1730
Similarity Rank: 1746
Similarity Rank: 1892
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 28 | $12,320,000 | $440,000 | $7,651 | 6.85% |
| VA | 5 | $3,435,000 | $687,000 | $26,880 | 6.05% |
For 2023, Simplifi Mortgage's most frequently originated type of loan was Conventional, with 28 originations. Their 2nd most popular type was VA, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 32 | $15,510,000 | $484,688 | $10,661 | 6.72% |
| Cash Out Refi | 1 | $245,000 | $245,000 | $7,483 | 6.99% |
For 2023, Simplifi Mortgage's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 33 | $15,755,000 | $477,424 | $10,565 | 6.73% |
For 2023, Simplifi Mortgage's most frequently cited loan duration was 30 Year, with 33 originations.
Origination Fees/Closing Costs
Simplifi Mortgage's average total fees were $10,565, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 14 | $6,570,000 | $469,286 |
| 7-8% | 10 | $4,960,000 | $496,000 |
| 5-6% | 9 | $4,225,000 | $469,444 |
During 2023, Simplifi Mortgage's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 14 originations.
Loan Sizing
2023 saw Simplifi Mortgage place emphasis on $400k-600k loans with 10 originations, totaling $4,530,000 in origination value.
Applicant Income
Simplifi Mortgage lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $50k-75k, with 8 originations.
Applicant Debt to Income Ratio
Simplifi Mortgage lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 20-30%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Simplifi Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination51.52%
Simplifi 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 | 33 | $15,755,000 | $477,424 |