Direct Lenders Mortgage Rates, Fees & Info

LAWRENCEVILLE, GA

LEI: 54930052808NIU3KIW97

Tax ID: 20-2553605

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Mortgage Data

Review & 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 by origination volume include: Atlanta, Jefferson, Rome, Miami, and Birmingham among others. We have data for 25 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 a low 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% 3/28/24
30 Year Conventional Refi 6.54% 3/28/24
30 Year Cash-out Refi 6.90% 3/28/24
30 Year FHA Purchase 7.32% 3/28/24
30 Year VA Purchase 6.33% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.46% 3/28/24
15 Year Conventional Purchase 6.01% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
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.

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

403

Origination Dollar Volume (All Markets)

$98,995,000
Show all (10) 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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 367 $90,655,000 $247,016 $3,212 4.04%
Outside of Metro Areas 7 $1,095,000 $156,429 $3,450 3.73%
Jefferson, GA (FHA|USDA|VA) 3 $865,000 $288,333 $584 3.88%
ROME, GA (FHA|USDA|VA) 2 $710,000 $355,000 $1,725 3.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $690,000 $345,000 $4,460 4.19%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $455,000 $455,000 $2,419 4.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $445,000 $445,000 $1,541 3.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $415,000 $415,000 $4,134 2.88%
Bainbridge, GA (FHA|USDA|VA) 1 $365,000 $365,000 $5,494 2.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $14,980 4.50%
GAINESVILLE, GA (FHA|USDA|VA) 1 $295,000 $295,000 $1,665 4.25%
Thomaston, GA (FHA|USDA|VA) 2 $290,000 $145,000 $2,137 4.38%
Cedartown, GA (FHA|USDA|VA) 2 $280,000 $140,000 $2,158 4.31%
Waycross, GA (FHA|USDA|VA) 1 $275,000 $275,000 $4,429 2.88%
Thomasville, GA (FHA|USDA|VA) 1 $265,000 $265,000 $5,642 2.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,197 3.50%
Cornelia, GA (FHA|USDA|VA) 1 $215,000 $215,000 $4,974 4.63%
VALDOSTA, GA (FHA|USDA|VA) 1 $195,000 $195,000 $4,132 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,899 4.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $155,000 $155,000 $5,252 4.25%
ALBANY, GA (FHA|USDA|VA) 1 $135,000 $135,000 $1,688 4.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,688 3.75%
LaGrange, GA-AL (FHA|USDA|VA) 1 $125,000 $125,000 $4,224 4.13%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $115,000 $115,000 $2,495 4.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $115,000 $115,000 $705 5.38%
Direct Lenders's top markets include Atlanta, Jefferson, Rome, Miami, and Birmingham among others.

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

    Emory Alliance Credit Union
    Similarity Rank: 516
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    FLAT BRANCH MORTGAGE, INC.
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    ROBINS FINANCIAL
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    IVY MORTGAGE, INC.
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    VICTORY MORTGAGE, L.L.C.
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    RBC Bank, (Georgia)
    Similarity Rank: 4710

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $46,410,000 $257,833 $1,958 4.21%
    FHA 134 $29,050,000 $216,791 $4,256 4.08%
    VA 74 $21,120,000 $285,405 $4,630 3.48%
    USDA 15 $2,415,000 $161,000 $2,268 4.03%

    For 2019, Direct Lenders's most frequently originated type of loan was Conventional, with 180 originations. Their 2nd most popular type was FHA, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 305 $73,235,000 $240,115 $3,136 4.16%
    Refi 74 $20,280,000 $274,054 $3,279 3.42%
    Cash Out Refi 21 $5,195,000 $247,381 $4,432 4.09%
    Other 3 $285,000 $95,000 $2,371 4.67%

    For 2019, Direct Lenders's most frequently cited loan purpose was Home Purchase, with 305 originations. The 2nd most popular reason was Refi, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 380 $93,380,000 $245,737 $3,247 4.05%
    15 Year 13 $2,835,000 $218,077 $2,958 3.52%
    20 Year 5 $1,385,000 $277,000 $2,207 3.55%
    Other 4 $1,220,000 $305,000 $3,454 4.09%
    10 Year 1 $175,000 $175,000 $1,991 3.50%

    For 2019, Direct Lenders's most frequently cited loan duration was 30 Year, with 380 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 354 $86,310,000 $243,814
    $1k-2k 18 $4,020,000 $223,333
    $3k-4k 12 $3,300,000 $275,000
    $2k-3k 11 $2,505,000 $227,727
    $4k-5k 5 $1,965,000 $393,000
    $5k+ 3 $895,000 $298,333

    Direct Lenders's average total fees were $3,247, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 354 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 196 $48,360,000 $246,735
    4-5% 161 $38,925,000 $241,770
    2.5-3% 27 $7,865,000 $291,296
    5-6% 18 $3,460,000 $192,222
    6-7% 1 $385,000 $385,000

    During 2019, Direct Lenders's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 3-4%, with 196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 220 $61,190,000 $278,136 $3,570 3.98%
    $100k-200k 139 $22,125,000 $159,173 $2,647 4.11%
    $400k-600k 26 $11,610,000 $446,538 $4,113 3.79%
    $100,000 or less 14 $1,210,000 $86,429 $2,014 4.39%
    $600k-1MM 4 $2,860,000 $715,000 $2,693 4.34%

    2019 saw Direct Lenders place emphasis on $200k-400k loans with 220 originations, totaling $61,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 123 $25,865,000 $210,285 $3,008 3.78%
    $50k-75k 93 $19,225,000 $206,720 $3,257 4.09%
    $100k-150k 82 $23,780,000 $290,000 $3,692 4.10%
    $75k-100k 69 $16,275,000 $235,870 $3,284 4.15%
    $150k-250k 22 $7,320,000 $332,727 $2,655 4.36%
    $250k+ 13 $6,305,000 $485,000 $2,810 4.17%

    Direct Lenders lent most frequently to those with incomes in the $50k or less range, with 123 originations. The second most popular income band? $50k-75k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 76 $21,160,000 $278,421 $3,024 3.47%
    20-30% 71 $15,945,000 $224,577 $2,683 4.09%
    30-36% 62 $13,800,000 $222,581 $2,861 4.25%
    50-60% 32 $7,560,000 $236,250 $4,989 4.03%
    40% 18 $4,800,000 $266,667 $2,572 4.37%
    44% 15 $3,285,000 $219,000 $3,683 4.15%
    41% 15 $3,725,000 $248,333 $3,261 4.00%
    37% 14 $3,320,000 $237,143 $4,164 4.28%
    43% 14 $3,070,000 $219,286 $3,073 4.20%
    48% 13 $3,435,000 $264,231 $4,786 4.27%
    42% 12 $2,310,000 $192,500 $2,415 3.94%
    36% 11 $2,985,000 $271,364 $2,918 3.99%
    49% 10 $2,160,000 $216,000 $3,450 4.21%
    47% 10 $2,690,000 $269,000 $3,516 4.23%
    38% 9 $2,715,000 $301,667 $2,270 4.32%
    45% 8 $2,230,000 $278,750 $3,089 4.17%
    39% 7 $1,985,000 $283,571 $4,084 4.16%
    46% 6 $1,820,000 $303,333 $3,919 4.29%

    Direct Lenders lent most frequently to those with DTI ratios of <20%, with 76 originations. The next most common DTI ratio? 20-30%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 261 $64,395,000 $246,724 $3,074 4.08%
    Not provided 112 $27,250,000 $243,304 $3,311 3.84%
    Black 27 $6,375,000 $236,111 $3,978 4.33%
    Asian 2 $760,000 $380,000 $9,218 3.81%
    American Indian 1 $215,000 $215,000 $440 4.63%

    Approval Rates

    Total approvals of all applications
    95.81%

    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
    52.36%

    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 403 $98,995,000 $245,645

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $210,000 $105,000
    Single Family (1-4 Units):Site-Built 401 $98,785,000 $246,347

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $455,000 $91,000 $1,697 4.33%
    40-60% 12 $1,780,000 $148,333 $2,694 3.88%
    60-80% 64 $18,020,000 $281,563 $2,828 4.10%
    80-100% 302 $72,880,000 $241,325 $3,120 4.05%
    Over 100% 19 $5,785,000 $304,474 $6,960 3.49%
    Under 20% 1 $75,000 $75,000 $2,963 3.88%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    DIRECT LENDERS LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%