Direct Lenders Mortgage Rates, Fees & Info

LAWRENCEVILLE, GA

LEI: 54930052808NIU3KIW97

Tax ID: 20-2553605

5 stars - Updated: 3/4/24 - out of 5 stars, based on 17 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Direct Lenders is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Atlanta, Rome, Cedartown, Calhoun, and Columbus among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Direct Lenders 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. Direct Lenders 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 6.76% 3/4/24
30 Year Conventional Refi 6.54% 3/4/24
30 Year Cash-out Refi 6.90% 3/4/24
30 Year FHA Purchase 7.32% 3/4/24
30 Year VA Purchase 6.33% 3/4/24
30 Year VA Refi 6.27% 3/4/24
30 Year USDA Purchase 6.46% 3/4/24
15 Year Conventional Purchase 6.01% 3/4/24
15 Year Conventional Refi 5.68% 3/4/24
15 Year Cash-out Refi 5.68% 3/4/24
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.

Direct Lenders Mortgage Calculator






Your Estimates

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

This is not an official calculator from Direct Lenders. 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

276

Origination Dollar Volume (All Markets)

$82,760,000

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 mortgage rate was 5.11%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.35%.

Relative Fees (Closing Costs)

Direct Lenders's average total fees/closing costs for a 30 year fixed rate mortgage were $4,721.

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 $4,750.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 226 $69,180,000 $306,106 $4,760 5.06%
ROME, GA (FHA|USDA|VA) 13 $3,235,000 $248,846 $4,048 5.23%
Outside of Metro Areas 9 $2,945,000 $327,222 $6,409 4.74%
Cedartown, GA (FHA|USDA|VA) 4 $950,000 $237,500 $4,984 4.41%
Calhoun, GA (FHA|USDA|VA) 4 $880,000 $220,000 $1,928 5.59%
COLUMBUS, GA-AL (FHA|USDA|VA) 3 $685,000 $228,333 $1,749 6.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $625,000 $625,000 $2,750 7.13%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $605,000 $605,000 $3,970 4.38%
GAINESVILLE, GA (FHA|USDA|VA) 1 $475,000 $475,000 $0 3.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $470,000 $235,000 $6,323 4.69%
PROVO-OREM, UT (FHA|USDA|VA) 1 $415,000 $415,000 $7,501 4.25%
Jefferson, GA (FHA|USDA|VA) 1 $395,000 $395,000 $50 2.88%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $355,000 $355,000 $7,589 6.13%
LaGrange, GA-AL (FHA|USDA|VA) 2 $260,000 $130,000 $2,194 5.44%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $255,000 $255,000 $6,062 5.63%
PANAMA CITY, FL (FHA|USDA|VA) 1 $245,000 $245,000 $10,827 4.38%
Moultrie, GA (FHA|USDA|VA) 1 $235,000 $235,000 $1,207 5.50%
GADSDEN, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,143 4.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $135,000 $135,000 $2,768 5.63%
DALTON, GA (FHA|USDA|VA) 1 $135,000 $135,000 $8,284 5.00%
DOTHAN, AL (FHA|USDA|VA) 1 $75,000 $75,000 $1,224 6.75%
Direct Lenders's top markets include Atlanta, Rome, Cedartown, Calhoun, and Columbus among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against DIRECT LENDERS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Credence Funding Corporation
    Similarity Rank: 553
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 1053
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 1131
    LGE COMMUNITY
    Similarity Rank: 1595
    Aurora Financial, LLC
    Similarity Rank: 1612
    POWERCO
    Similarity Rank: 1968
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2028
    COCA-COLA
    Similarity Rank: 2940

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 182 $53,760,000 $295,385 $3,452 5.07%
    FHA 62 $17,060,000 $275,161 $7,311 5.22%
    VA 28 $10,950,000 $391,071 $6,833 4.92%
    USDA 4 $990,000 $247,500 $4,414 3.78%

    For 2022, Direct Lenders's most frequently originated type of loan was Conventional, with 182 originations. Their 2nd most popular type was FHA, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 247 $76,035,000 $307,834 $4,562 5.09%
    Cash Out Refi 16 $3,410,000 $213,125 $5,868 5.00%
    Other 7 $1,555,000 $222,143 $5,287 5.18%
    Refi 6 $1,760,000 $293,333 $5,448 4.38%

    For 2022, Direct Lenders's most frequently cited loan purpose was Home Purchase, with 247 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 268 $80,970,000 $302,127 $4,721 5.11%
    15 Year 6 $1,510,000 $251,667 $2,772 3.58%
    10 Year 1 $125,000 $125,000 $1,895 3.00%
    20 Year 1 $155,000 $155,000 $6,621 5.00%

    For 2022, Direct Lenders's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 182 $55,320,000 $303,956
    $3k-4k 25 $7,565,000 $302,600
    $2k-3k 23 $6,305,000 $274,130
    $1k-2k 20 $5,670,000 $283,500
    $4k-5k 13 $3,365,000 $258,846
    $5k+ 13 $4,535,000 $348,846

    Direct Lenders's average total fees were $4,721, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 182 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 102 $28,700,000 $281,373
    4-5% 62 $19,680,000 $317,419
    3-4% 56 $18,110,000 $323,393
    6-7% 32 $8,480,000 $265,000
    7-8% 16 $5,240,000 $327,500
    2.5-3% 7 $2,215,000 $316,429
    <2.5% 1 $335,000 $335,000

    During 2022, Direct Lenders's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 5-6%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 159 $45,525,000 $286,321 $4,827 5.06%
    $100k-200k 58 $9,000,000 $155,172 $3,937 5.25%
    $400k-600k 44 $20,240,000 $460,000 $4,899 4.75%
    $600k-1MM 12 $7,770,000 $647,500 $6,429 5.43%
    $100,000 or less 3 $225,000 $75,000 $608 5.58%

    2022 saw Direct Lenders place emphasis on $200k-400k loans with 159 originations, totaling $45,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 65 $15,165,000 $233,308 $4,268 4.95%
    $75k-100k 64 $17,660,000 $275,938 $4,719 5.10%
    $100k-150k 61 $20,105,000 $329,590 $5,101 5.01%
    $150k-250k 47 $19,025,000 $404,787 $4,783 5.20%
    $50k or less 23 $4,195,000 $182,391 $4,251 5.03%
    $250k+ 16 $6,610,000 $413,125 $4,831 5.32%

    Direct Lenders lent most frequently to those with incomes in the $50k-75k range, with 65 originations. The second most popular income band? $75k-100k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $14,300,000 $310,870 $3,290 5.22%
    30-36% 37 $10,205,000 $275,811 $4,641 5.39%
    50-60% 25 $7,525,000 $301,000 $6,871 5.41%
    45% 16 $5,370,000 $335,625 $6,312 4.74%
    <20% 14 $3,440,000 $245,714 $3,798 5.04%
    39% 14 $4,340,000 $310,000 $4,459 4.40%
    37% 13 $3,445,000 $265,000 $2,959 4.95%
    49% 13 $3,825,000 $294,231 $6,906 4.62%
    42% 12 $3,010,000 $250,833 $4,138 4.82%
    48% 12 $4,030,000 $335,833 $6,205 5.28%
    47% 11 $2,595,000 $235,909 $4,257 5.31%
    44% 11 $3,785,000 $344,091 $4,769 5.31%
    40% 10 $3,240,000 $324,000 $4,231 4.74%
    41% 9 $2,805,000 $311,667 $4,441 4.83%
    36% 9 $3,085,000 $342,778 $4,363 4.65%
    43% 9 $3,305,000 $367,222 $2,884 5.25%
    38% 8 $1,860,000 $232,500 $5,733 4.63%
    46% 6 $1,990,000 $331,667 $5,001 5.44%
    >60% 1 $605,000 $605,000 $3,970 4.38%

    Direct Lenders lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 189 $56,025,000 $296,429 $4,403 5.05%
    Not provided 77 $23,595,000 $306,429 $5,269 5.08%
    Black 9 $2,875,000 $319,444 $5,674 5.19%
    Asian 1 $265,000 $265,000 $1,433 7.63%

    Approval Rates

    Total approvals of all applications
    96.69%

    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
    51.81%

    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 276 $82,760,000 $299,855

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    276 $82,760,000 $299,855

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,245,000 $138,333 $3,067 4.58%
    40-60% 25 $6,045,000 $241,800 $4,658 5.09%
    60-80% 74 $22,580,000 $305,135 $3,541 5.00%
    80-100% 163 $51,355,000 $315,061 $5,104 5.15%
    Over 100% 4 $1,390,000 $347,500 $12,163 3.97%
    Under 20% 1 $145,000 $145,000 $3,676 5.75%