Direct Lenders Mortgage Rates, Fees & Info
LAWRENCEVILLE, GALEI: 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, Nashville, Augusta, Warner Robins, and Gainesville among others. We have data for 33 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 11/22/24 |
| 30 Year Conventional Refi | 6.54% | 11/22/24 |
| 30 Year Cash-out Refi | 6.90% | 11/22/24 |
| 30 Year FHA Purchase | 7.32% | 11/22/24 |
| 30 Year VA Purchase | 6.33% | 11/22/24 |
| 30 Year VA Refi | 6.27% | 11/22/24 |
| 30 Year USDA Purchase | 6.46% | 11/22/24 |
| 15 Year Conventional Purchase | 6.01% | 11/22/24 |
| 15 Year Conventional Refi | 5.68% | 11/22/24 |
| 15 Year Cash-out Refi | 5.68% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
733Origination Dollar Volume (All Markets)
$190,525,000Awards
DIRECT LENDERS - 2020
DIRECT LENDERS is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 642 | $167,640,000 | $261,121 | $3,062 | 3.14% |
| Outside of Metro Areas | 21 | $4,895,000 | $233,095 | $3,184 | 3.10% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 6 | $2,020,000 | $336,667 | $5,736 | 2.79% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 6 | $1,770,000 | $295,000 | $5,244 | 2.52% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $3,768 | 2.77% |
| GAINESVILLE, GA (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $2,328 | 2.88% |
| SAVANNAH, GA (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $6,125 | 2.44% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $5,253 | 2.31% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $3,966 | 2.54% |
| BRUNSWICK, GA (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $2,766 | 3.31% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,446 | 2.25% |
| ROME, GA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $4,313 | 2.96% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $1,660 | 3.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $5,060 | 2.58% |
| LaGrange, GA-AL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $2,647 | 2.71% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,466 | 2.75% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,323 | 2.88% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,253 | 2.75% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $18,693 | 2.50% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,062 | 3.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,783 | 3.13% |
| Cedartown, GA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,049 | 3.06% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,615 | 2.75% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,890 | 2.75% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,331 | 2.25% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,029 | 3.75% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,077 | 3.75% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,459 | 2.88% |
| Athens, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,163 | 2.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,465 | 2.75% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 3.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,502 | 2.75% |
| Vidalia, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,059 | 3.75% |
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.
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Product Mix
For 2020, Direct Lenders's most frequently originated type of loan was Conventional, with 491 originations. Their 2nd most popular type was VA, with 115 originations.
Loan Reason
For 2020, Direct Lenders's most frequently cited loan purpose was Home Purchase, with 353 originations. The 2nd most popular reason was Refi, with 314 originations.
Loan Duration/Length
For 2020, Direct Lenders's most frequently cited loan duration was 30 Year, with 656 originations. The 2nd most popular length was 15 Year, with 46 originations.
Origination Fees/Closing Costs
Direct Lenders's average total fees were $3,272, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 579 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 354 | $90,250,000 | $254,944 |
| 2.5-3% | 273 | $72,845,000 | $266,832 |
| <2.5% | 87 | $23,555,000 | $270,747 |
| 4-5% | 18 | $3,790,000 | $210,556 |
| 5-6% | 1 | $85,000 | $85,000 |
During 2020, Direct Lenders's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 354 originations.
Loan Sizing
2020 saw Direct Lenders place emphasis on $200k-400k loans with 419 originations, totaling $116,235,000 in origination value.
Applicant Income
Direct Lenders lent most frequently to those with incomes in the $50k or less range, with 196 originations. The second most popular income band? $100k-150k, with 155 originations.
Applicant Debt to Income Ratio
Direct Lenders lent most frequently to those with DTI ratios of 20-30%, with 177 originations. The next most common DTI ratio? <20%, with 153 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.27%
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 origination65.21%
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 | 733 | $190,525,000 | $259,925 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $540,000 | $135,000 |
| Single Family (1-4 Units):Site-Built | 729 | $189,985,000 | $260,610 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| DIRECT LENDERS LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |