Direct Lenders Mortgage Rates, Fees & Info

LAWRENCEVILLE, GA

LEI: 54930052808NIU3KIW97

Tax ID: 20-2553605

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Direct Lenders is a smaller mortgage company specializing in Home Purchase and Refi loans. Direct Lenders has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Atlanta, Rome, Brunswick, Savannah, and Athens among others. Direct Lenders has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Direct Lenders is typically an average fee lendor.


Originations

572

Origination Dollar Volume (All Markets)

$163,460,000

Awards

DIRECT LENDERS  30 Year Conventional Loans gold DIRECT LENDERS  FHA Loans silver DIRECT LENDERS  VA Loans silver DIRECT LENDERS  VA Loans bronze
Show all (4) awards

Relative Rate

Direct Lenders 's average 30 year fixed rate mortgage of loans were 3.05%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.1%.

Relative Fees

Direct Lenders 's average total fees for a 30 year fixed rate mortgage are $3,652.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 490 $141,440,000 $288,653 $3,647 3.03%
Outside of Metro Areas 13 $3,335,000 $256,538 $2,652 3.02%
ROME, GA (FHA|USDA|VA) 8 $1,670,000 $208,750 $2,646 3.06%
BRUNSWICK, GA (FHA|USDA|VA) 4 $1,270,000 $317,500 $2,044 2.69%
SAVANNAH, GA (FHA|USDA|VA) 3 $1,105,000 $368,333 $3,362 2.46%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 4 $1,100,000 $275,000 $2,341 2.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 4 $1,080,000 $270,000 $2,007 2.38%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 4 $1,040,000 $260,000 $4,588 3.38%
Cedartown, GA (FHA|USDA|VA) 5 $995,000 $199,000 $5,054 2.90%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $940,000 $470,000 $11,016 2.75%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $900,000 $225,000 $2,382 3.34%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $715,000 $238,333 $4,248 3.33%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $580,000 $290,000 $2,219 2.25%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $570,000 $285,000 $2,297 2.25%
Calhoun, GA (FHA|USDA|VA) 3 $565,000 $188,333 $2,829 3.25%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $530,000 $265,000 $2,703 3.19%
ST. GEORGE, UT (FHA|USDA|VA) 1 $505,000 $505,000 $2,603 2.50%
Sevierville, TN (FHA|USDA|VA) 1 $495,000 $495,000 $4,143 3.50%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $490,000 $245,000 $3,986 3.44%
GAINESVILLE, GA (FHA|USDA|VA) 1 $485,000 $485,000 $3,429 2.75%
GAINESVILLE, FL (FHA|USDA|VA) 1 $465,000 $465,000 $16,664 3.13%
DALTON, GA (FHA|USDA|VA) 2 $440,000 $220,000 $1,638 2.44%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $415,000 $415,000 $5,015 3.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $390,000 $195,000 $2,865 3.13%
Jefferson, GA (FHA|USDA|VA) 1 $365,000 $365,000 $11,017 3.63%
PROVO-OREM, UT (FHA|USDA|VA) 1 $305,000 $305,000 $3,045 2.88%
VALDOSTA, GA (FHA|USDA|VA) 1 $275,000 $275,000 $2,955 2.25%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $265,000 $265,000 $2,720 2.50%
ALBANY, GA (FHA|USDA|VA) 1 $245,000 $245,000 $1,520 2.25%
Summerville, GA (FHA|USDA|VA) 1 $215,000 $215,000 $2,900 3.38%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $165,000 $165,000 $2,677 2.75%
Thomaston, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,080 3.38%

Direct Lenders 's top markets include Atlanta, Rome, Brunswick, Savannah, and Athens among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 398 $112,680,000 $283,116 $2,728 3.09%
FHA 87 $22,375,000 $257,184 $6,637 3.12%
VA 78 $26,750,000 $342,949 $4,775 2.51%
USDA 9 $1,655,000 $183,889 $3,524 3.21%

For the 2021 period, Direct Lenders 's most frequently originated loan type of loans were Conventional, with 398 originations. Their 2nd most popular type is FHA, with 87 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 353 $105,045,000 $297,578 $3,761 3.09%
Refi 135 $37,875,000 $280,556 $3,098 2.69%
Cash Out Refi 81 $20,085,000 $247,963 $3,869 3.24%
Other 3 $455,000 $151,667 $2,945 3.58%

For the 2021, Direct Lenders 's most frequently cited loan purpose of loans were Home Purchase, with 353 originations. The 2nd most popular reason of loans were Refi, with 135 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 527 $151,685,000 $287,827 $3,652 3.05%
15 Year 29 $7,245,000 $249,828 $3,247 2.55%
20 Year 7 $1,645,000 $235,000 $3,479 3.13%
Other 7 $2,525,000 $360,714 $2,924 2.63%
10 Year 2 $360,000 $180,000 $2,156 2.94%

For the 2021, Direct Lenders 's most frequently cited loan length of loans were 30 Year, with 527 originations. The 2nd most popular length of loans were 15 Year, with 29 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 480 $140,680,000 $293,083
$1k-2k 42 $9,320,000 $221,905
$3k-4k 24 $5,690,000 $237,083
$2k-3k 18 $4,800,000 $266,667
$5k+ 7 $2,755,000 $393,571

$3,652 of loans were Direct Lenders 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 480 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 265 $70,955,000 $267,755
2.5-3% 205 $60,245,000 $293,878
<2.5% 95 $30,445,000 $320,474
4-5% 7 $1,815,000 $259,286

During 2021, Direct Lenders 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 3-4%, with 265 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 345 $97,105,000 $281,464 $3,685 2.99%
$100k-200k 130 $20,500,000 $157,692 $2,998 3.15%
$400k-600k 79 $37,465,000 $474,241 $4,187 2.85%
$600k-1MM 11 $7,855,000 $714,091 $5,448 3.07%
$100,000 or less 7 $535,000 $76,429 $2,316 3.29%

2021 saw Direct Lenders place emphasis on $200k-400k loans with 345 originations, totaling $97,105,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 139 $31,475,000 $226,439 $3,517 3.14%
$100k-150k 121 $38,325,000 $316,736 $3,674 3.01%
$50k or less 121 $27,855,000 $230,207 $3,338 2.82%
$75k-100k 98 $28,210,000 $287,857 $3,993 3.08%
$150k-250k 69 $27,095,000 $392,681 $3,688 3.06%
$250k+ 22 $9,660,000 $439,091 $3,359 2.99%

Direct Lenders lent most frequently to those with incomes in the $50k-75k range, with 139 originations. The second most popular income band? $100k-150k, with 121 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 122 $35,420,000 $290,328 $2,914 3.03%
<20% 97 $27,715,000 $285,722 $2,933 2.65%
30-36% 95 $26,735,000 $281,421 $3,255 3.04%
43% 26 $7,890,000 $303,462 $4,032 3.08%
39% 24 $6,840,000 $285,000 $3,599 3.13%
49% 23 $6,515,000 $283,261 $3,631 3.27%
50-60% 22 $6,450,000 $293,182 $8,251 3.03%
41% 22 $5,320,000 $241,818 $4,362 3.23%
45% 19 $6,495,000 $341,842 $3,158 3.17%
37% 17 $4,835,000 $284,412 $3,163 3.03%
42% 16 $4,730,000 $295,625 $4,452 3.23%
48% 16 $3,890,000 $243,125 $4,615 3.18%
47% 14 $3,250,000 $232,143 $5,521 3.10%
44% 13 $4,025,000 $309,615 $3,616 3.15%
46% 13 $4,405,000 $338,846 $5,518 3.13%
40% 12 $3,510,000 $292,500 $3,011 2.95%
38% 12 $2,770,000 $230,833 $3,761 3.18%
36% 9 $2,665,000 $296,111 $3,484 3.07%

Direct Lenders lent most frequently to those with DTI ratios of 20-30%, with 122 originations. The next most common DTI ratio? <20%, with 97 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 367 $102,765,000 $280,014 $3,374 3.03%
Not provided 164 $48,580,000 $296,220 $3,999 3.04%
Black 38 $10,960,000 $288,421 $4,249 2.76%
Asian Indian 1 $535,000 $535,000 $1,826 3.13%
Asian 1 $315,000 $315,000 $196 3.00%
Native Hawaiian 1 $305,000 $305,000 $10,310 3.50%

Approval Rates

Total approvals of all applications
95.74%

Direct Lenders 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
62.59%

Direct Lenders 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 572 $163,460,000 $285,769

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
572 $163,460,000 $285,769

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 11 $1,635,000 $148,636 $2,198 2.99%
40-60% 42 $8,600,000 $204,762 $2,986 3.02%
60-80% 192 $55,130,000 $287,135 $3,096 3.07%
80-100% 314 $93,760,000 $298,599 $3,858 3.00%
Over 100% 12 $4,280,000 $356,667 $9,232 2.67%
Under 20% 1 $55,000 $55,000 $2,026 2.88%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Direct Mortgage Loans, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%