Ideal Home Loans Mortgage Rates, Fees & Info
Centennial, COLEI: 5493004J0RTXMDKIYB74
Tax ID: 35-2352369
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Mortgage Data
Review & Overview
Ideal Home Loans is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Ideal Home Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Denver, Phoenix, Greeley, Fort Collins, and Boulder among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Ideal Home Loans 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. Ideal Home Loans 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.66% | 12/3/24 |
| 30 Year Conventional Refi | 6.15% | 12/3/24 |
| 30 Year Cash-out Refi | 6.69% | 12/3/24 |
| 30 Year FHA Purchase | 7.41% | 12/3/24 |
| 30 Year FHA Refi | 6.27% | 12/3/24 |
| 30 Year VA Purchase | 6.68% | 12/3/24 |
| 15 Year Conventional Purchase | 5.68% | 12/3/24 |
| 15 Year Conventional Refi | 6.18% | 12/3/24 |
| 15 Year Cash-out Refi | 6.18% | 12/3/24 |
| 15 Year FHA Refi | 5.68% | 12/3/24 |
| 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. | ||
Ideal Home Loans Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
772Origination Dollar Volume (All Markets)
$215,920,000Top 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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 440 | $131,010,000 | $297,750 | $6,213 | 4.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 214 | $52,400,000 | $244,860 | $6,275 | 4.10% |
| GREELEY, CO (FHA|USDA|VA) | 62 | $17,190,000 | $277,258 | $5,619 | 4.07% |
| FORT COLLINS, CO (FHA|USDA|VA) | 18 | $5,010,000 | $278,333 | $6,837 | 3.90% |
| BOULDER, CO (FHA|USDA|VA) | 8 | $3,630,000 | $453,750 | $9,025 | 4.15% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 9 | $2,285,000 | $253,889 | $6,329 | 3.88% |
| Outside of Metro Areas | 8 | $1,270,000 | $158,750 | $6,605 | 3.56% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $6,389 | 4.21% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $8,081 | 4.00% |
| Edwards, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,532 | 4.63% |
| Fort Morgan, CO (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $5,090 | 4.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,526 | 4.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,679 | 3.13% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,953 | 3.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,142 | 3.63% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,331 | 4.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against IDEAL HOME LOANS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 589 | $162,165,000 | $275,323 | $5,125 | 3.98% |
| FHA | 148 | $41,440,000 | $280,000 | $10,151 | 4.25% |
| VA | 35 | $12,315,000 | $351,857 | $8,362 | 3.86% |
For 2019, Ideal Home Loans's most frequently originated type of loan was Conventional, with 589 originations. Their 2nd most popular type was FHA, with 148 originations.
Loan Reason
For 2019, Ideal Home Loans's most frequently cited loan purpose was Cash Out Refi, with 454 originations. The 2nd most popular reason was Refi, with 187 originations.
Loan Duration/Length
For 2019, Ideal Home Loans's most frequently cited loan duration was 30 Year, with 628 originations. The 2nd most popular length was 15 Year, with 66 originations.
Origination Fees/Closing Costs
Ideal Home Loans's average total fees were $6,509, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 196 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 402 | $112,740,000 | $280,448 |
| 4-5% | 306 | $89,010,000 | $290,882 |
| 5-6% | 43 | $13,605,000 | $316,395 |
| <2.5% | 20 | $220,000 | $11,000 |
| 2.5-3% | 1 | $345,000 | $345,000 |
During 2019, Ideal Home Loans's average interest rate for loans was 4.08%, while their most frequently originated rate bucket for loans was 3-4%, with 402 originations.
Loan Sizing
2019 saw Ideal Home Loans place emphasis on $200k-400k loans with 477 originations, totaling $138,645,000 in origination value.
Applicant Income
Ideal Home Loans lent most frequently to those with incomes in the $50k-75k range, with 218 originations. The second most popular income band? $100k-150k, with 182 originations.
Applicant Debt to Income Ratio
Ideal Home Loans lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 129 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.84%
Ideal Home Loans has a below average approval rate.
Pick Rate
Approvals leading to origination35.75%
Ideal Home Loans 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 | 772 | $215,920,000 | $279,689 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 6 | $1,000,000 | $166,667 |
| Single Family (1-4 Units):Site-Built | 766 | $214,920,000 | $280,574 |