Simplifi Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 5493002TUYGC7HBYME91

Tax ID: 83-1407543

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

    Simplifi Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Simplifi Mortgage has a high proportion of conventional loans. Their top (well, only) market is Las Vegas.

    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 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.72% 4/28/24
    30 Year Conventional Refi 7.62% 4/28/24
    30 Year Cash-out Refi 6.25% 4/28/24
    30 Year VA Purchase 6.44% 4/28/24
    30 Year VA Refi 5.93% 4/28/24
    15 Year Conventional Purchase 6.14% 4/28/24
    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

    78

    Origination Dollar Volume (All Markets)

    $26,530,000

    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) 78 $26,530,000 $340,128 $5,663 4.10%
    Simplifi Mortgage's top markets include and Las Vegas among others.

    Their top states include:
  • Nevada (FHA|USDA|VA)

    • 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.

    SIMPLIFI MORTGAGE, LLC
    Similarity Rank: 288
    Nevada Mortgage Inc.
    Similarity Rank: 401
    ALOHA PACIFIC
    Similarity Rank: 695
    Credit Union 1
    Similarity Rank: 850
    SILVER STATE SCHOOLS SERVICE COMPANY, LLC
    Similarity Rank: 966
    Firefighters First Federal Credit Union
    Similarity Rank: 1425
    ONE NEVADA CREDIT UNION
    Similarity Rank: 1680
    MID AMERICA MORTGAGE, INC.
    Similarity Rank: 1976
    JFK Financial Inc.
    Similarity Rank: 2156
    Fremont Bank
    Similarity Rank: 2700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $20,475,000 $347,034 $5,572 4.20%
    VA 19 $6,055,000 $318,684 $5,947 3.80%

    For 2019, Simplifi Mortgage's most frequently originated type of loan was Conventional, with 59 originations. Their 2nd most popular type was VA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $16,620,000 $361,304 $6,765 4.24%
    Refi 28 $8,690,000 $310,357 $3,933 3.85%
    Cash Out Refi 4 $1,220,000 $305,000 $5,103 4.22%

    For 2019, Simplifi Mortgage's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 74 $25,610,000 $346,081 $5,711 4.11%
    15 Year 3 $575,000 $191,667 $5,025 3.75%
    30+ year 1 $345,000 $345,000 $4,051 4.25%

    For 2019, Simplifi Mortgage's most frequently cited loan duration was 30 Year, with 74 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 22 $8,440,000 $383,636
    $<1k 13 $4,095,000 $315,000
    $2k-3k 13 $4,845,000 $372,692
    $3k-4k 12 $3,010,000 $250,833
    $5k+ 12 $4,510,000 $375,833
    $4k-5k 6 $1,630,000 $271,667

    Simplifi Mortgage's average total fees were $5,711, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 44 $15,630,000 $355,227
    4-5% 32 $9,090,000 $284,063
    5-6% 2 $1,810,000 $905,000

    During 2019, Simplifi Mortgage's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 3-4%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 50 $14,890,000 $297,800 $5,580 4.09%
    $400k-600k 16 $7,420,000 $463,750 $6,373 4.07%
    $100k-200k 10 $1,550,000 $155,000 $4,532 4.10%
    $1MM+ 2 $2,670,000 $1,335,000 $7,710 4.69%

    2019 saw Simplifi Mortgage place emphasis on $200k-400k loans with 50 originations, totaling $14,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $6,555,000 $345,000 $6,768 4.14%
    $50k or less 16 $4,280,000 $267,500 $4,285 3.90%
    $50k-75k 14 $3,540,000 $252,857 $5,350 4.23%
    $150k-250k 11 $4,125,000 $375,000 $5,432 3.97%
    $250k+ 9 $5,395,000 $599,444 $5,536 4.17%
    $75k-100k 9 $2,635,000 $292,778 $6,678 4.29%

    Simplifi Mortgage lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $50k or less, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $5,795,000 $340,882 $5,786 4.03%
    30-36% 9 $2,955,000 $328,333 $4,217 4.39%
    <20% 7 $3,045,000 $435,000 $4,646 4.16%
    38% 6 $1,510,000 $251,667 $5,811 4.37%
    41% 5 $1,335,000 $267,000 $6,637 4.04%
    44% 4 $1,530,000 $382,500 $8,444 4.00%
    36% 4 $2,240,000 $560,000 $7,859 3.88%
    45% 4 $1,070,000 $267,500 $4,740 4.38%
    47% 3 $975,000 $325,000 $6,332 4.58%
    37% 3 $1,295,000 $431,667 $5,991 4.25%
    43% 2 $600,000 $300,000 $12,713 4.00%
    40% 2 $630,000 $315,000 $4,010 4.13%
    46% 1 $215,000 $215,000 $4,562 4.50%
    48% 1 $165,000 $165,000 $5,418 4.13%
    49% 1 $285,000 $285,000 $14,368 3.38%
    50-60% 1 $435,000 $435,000 $4,742 3.38%

    Simplifi Mortgage lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $19,355,000 $328,051 $5,378 4.13%
    Asian 8 $3,130,000 $391,250 $5,875 4.13%
    Not provided 8 $2,890,000 $361,250 $8,298 3.94%
    Black 2 $830,000 $415,000 $4,068 3.75%
    Native Hawaiian or Islander 1 $325,000 $325,000 $2,870 4.00%

    Approval Rates

    Total approvals of all applications
    96.08%

    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 origination
    74.36%

    Simplifi Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 78 $26,530,000 $340,128

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 78 $26,530,000 $340,128

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $710,000 $355,000 $3,372 4.31%
    40-60% 6 $1,350,000 $225,000 $4,321 3.96%
    60-80% 23 $7,385,000 $321,087 $4,846 4.11%
    80-100% 42 $15,360,000 $365,714 $5,814 4.12%
    Over 100% 5 $1,725,000 $345,000 $10,676 3.98%