Ideal Home Loans Mortgage Rates, Fees & Info

Centennial, CO

LEI: 5493004J0RTXMDKIYB74

Tax ID: 35-2352369

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

    Ideal Home Loans is a smaller mortgage company specializing in Cash Out Refi and Home Purchase 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: Phoenix, Denver, Greeley, Fort Collins, and Boulder among others. We have data for 14 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.

    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 6.66% 4/28/24
    30 Year Conventional Refi 6.15% 4/28/24
    30 Year Cash-out Refi 6.69% 4/28/24
    30 Year FHA Purchase 7.41% 4/28/24
    30 Year FHA Refi 6.27% 4/28/24
    30 Year VA Purchase 6.68% 4/28/24
    15 Year Conventional Purchase 5.68% 4/28/24
    15 Year Conventional Refi 6.18% 4/28/24
    15 Year Cash-out Refi 6.18% 4/28/24
    15 Year FHA Refi 5.68% 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.

    Ideal Home Loans Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Ideal Home Loans. 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

    230

    Origination Dollar Volume (All Markets)

    $76,800,000

    Awards

    IDEAL HOME LOANS FHA Loans gold
    Show all (1) 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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 115 $35,545,000 $309,087 $7,842 4.32%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 84 $31,310,000 $372,738 $7,373 4.51%
    GREELEY, CO (FHA|USDA|VA) 10 $3,720,000 $372,000 $8,447 4.60%
    FORT COLLINS, CO (FHA|USDA|VA) 4 $1,410,000 $352,500 $10,579 4.59%
    BOULDER, CO (FHA|USDA|VA) 5 $1,365,000 $273,000 $6,468 4.50%
    TUCSON, AZ (FHA|USDA|VA) 2 $820,000 $410,000 $7,729 3.63%
    Breckenridge, CO (FHA|USDA|VA) 1 $555,000 $555,000 $4,053 6.63%
    Payson, AZ (FHA|USDA|VA) 2 $440,000 $220,000 $6,621 4.81%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $410,000 $205,000 $7,518 3.50%
    Show Low, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $7,942 3.88%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $315,000 $315,000 $10,656 4.75%
    Outside of Metro Areas 1 $235,000 $235,000 $9,611 3.25%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $165,000 $165,000 $5,657 3.25%
    PUEBLO, CO (FHA|USDA|VA) 1 $105,000 $105,000 $5,192 4.88%
    Ideal Home Loans's top markets include Phoenix, Denver, Greeley, Fort Collins, and Boulder among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • 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.

    Red Rocks Credit Union
    Similarity Rank: 384
    Credit Union of Denver
    Similarity Rank: 450
    First Credit Union
    Similarity Rank: 450
    DENVER COMMUNITY
    Similarity Rank: 651
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 714
    AERO Federal Credit Union
    Similarity Rank: 894
    ON TAP
    Similarity Rank: 1056
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 1624
    OneAZ Credit Union
    Similarity Rank: 1651
    ARIZONA CENTRAL
    Similarity Rank: 1672

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 199 $65,255,000 $327,915 $6,803 4.42%
    FHA 24 $8,630,000 $359,583 $13,376 4.34%
    VA 7 $2,915,000 $416,429 $13,172 4.23%

    For 2022, Ideal Home Loans's most frequently originated type of loan was Conventional, with 199 originations. Their 2nd most popular type was FHA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 169 $52,305,000 $309,497 $7,769 4.29%
    Home Purchase 44 $19,360,000 $440,000 $8,637 5.18%
    Refi 17 $5,135,000 $302,059 $4,353 3.55%

    For 2022, Ideal Home Loans's most frequently cited loan purpose was Cash Out Refi, with 169 originations. The 2nd most popular reason was Home Purchase, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 194 $68,340,000 $352,268 $8,132 4.57%
    15 Year 21 $4,725,000 $225,000 $4,926 3.46%
    20 Year 8 $2,190,000 $273,750 $5,837 3.69%
    Other 4 $970,000 $242,500 $5,288 3.34%
    10 Year 3 $575,000 $191,667 $6,061 3.67%

    For 2022, Ideal Home Loans's most frequently cited loan duration was 30 Year, with 194 originations. The 2nd most popular length was 15 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 95 $35,705,000 $375,842
    $4k-5k 44 $13,580,000 $308,636
    $1k-2k 41 $14,505,000 $353,780
    $3k-4k 33 $7,485,000 $226,818
    $2k-3k 14 $3,790,000 $270,714
    $<1k 3 $1,735,000 $578,333

    Ideal Home Loans's average total fees were $8,132, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 95 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 84 $25,890,000 $308,214
    4-5% 57 $17,735,000 $311,140
    5-6% 56 $22,030,000 $393,393
    2.5-3% 18 $6,050,000 $336,111
    6-7% 8 $2,690,000 $336,250
    7-8% 5 $1,815,000 $363,000
    <2.5% 2 $590,000 $295,000

    During 2022, Ideal Home Loans's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 3-4%, with 84 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 115 $33,175,000 $288,478 $7,214 4.41%
    $400k-600k 59 $27,765,000 $470,593 $9,489 4.62%
    $100k-200k 31 $4,825,000 $155,645 $5,737 3.93%
    $600k-1MM 15 $10,225,000 $681,667 $10,513 4.51%
    $100,000 or less 10 $810,000 $81,000 $4,209 4.33%

    2022 saw Ideal Home Loans place emphasis on $200k-400k loans with 115 originations, totaling $33,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 62 $23,640,000 $381,290 $8,360 4.40%
    $75k-100k 53 $17,585,000 $331,792 $8,084 4.45%
    $50k-75k 51 $12,125,000 $237,745 $6,838 4.42%
    $150k-250k 38 $16,760,000 $441,053 $8,149 4.57%
    $50k or less 22 $3,960,000 $180,000 $6,094 3.94%
    $250k+ 4 $2,730,000 $682,500 $6,955 4.63%

    Ideal Home Loans lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $75k-100k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $14,400,000 $342,857 $6,827 4.23%
    20-30% 31 $9,245,000 $298,226 $7,530 4.04%
    44% 16 $5,980,000 $373,750 $8,603 4.45%
    42% 15 $5,665,000 $377,667 $8,529 4.50%
    43% 14 $5,200,000 $371,429 $8,282 5.02%
    41% 13 $3,945,000 $303,462 $7,973 5.12%
    49% 12 $4,520,000 $376,667 $6,979 4.44%
    45% 10 $3,120,000 $312,000 $7,332 3.94%
    <20% 9 $1,005,000 $111,667 $4,351 4.21%
    39% 9 $3,135,000 $348,333 $5,757 4.29%
    48% 9 $3,835,000 $426,111 $7,659 4.43%
    47% 8 $3,370,000 $421,250 $11,335 4.97%
    37% 8 $2,450,000 $306,250 $5,436 4.03%
    46% 8 $2,580,000 $322,500 $9,395 4.87%
    50-60% 8 $3,300,000 $412,500 $15,310 4.58%
    36% 8 $2,380,000 $297,500 $6,590 4.27%
    40% 7 $1,835,000 $262,143 $5,024 4.09%
    38% 3 $835,000 $278,333 $8,342 4.96%

    Ideal Home Loans lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 209 $69,605,000 $333,038 $7,641 4.41%
    Not provided 9 $2,885,000 $320,556 $7,845 4.58%
    Asian 6 $2,460,000 $410,000 $8,444 4.44%
    Black 6 $1,850,000 $308,333 $8,125 3.88%

    Approval Rates

    Total approvals of all applications
    76.14%

    Ideal Home Loans has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    37.83%

    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 230 $76,800,000 $333,913

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    230 $76,800,000 $333,913

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,040,000 $145,714 $5,057 4.31%
    40-60% 68 $18,910,000 $278,088 $6,045 4.10%
    60-80% 112 $40,390,000 $360,625 $8,260 4.44%
    80-100% 32 $14,740,000 $460,625 $10,167 4.92%
    Over 100% 1 $495,000 $495,000 $21,877 4.75%
    Under 20% 3 $225,000 $75,000 $4,315 4.71%