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, Rome, Brunswick, Savannah, and Athens among others. We have data for 32 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

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

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) 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.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (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: 305
    Credence Funding Corporation
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    AMERICAN HOME MORTGAGE, INC.
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    Aurora Financial, LLC
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    POWERCO
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    CDC Federal Credit Union
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    LGE COMMUNITY
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    LOANFLIGHT LENDING, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Direct Lenders's most frequently originated type of loan was Conventional, with 398 originations. Their 2nd most popular type was FHA, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Direct Lenders's most frequently cited loan purpose was Home Purchase, with 353 originations. The 2nd most popular reason was 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 2021, Direct Lenders's most frequently cited loan duration was 30 Year, with 527 originations. The 2nd most popular length was 15 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 480 $140,680,000 $293,083
    $1k-2k 42 $9,320,000 $221,905
    $2k-3k 18 $4,800,000 $266,667
    $3k-4k 16 $3,720,000 $232,500
    $4k-5k 8 $1,970,000 $246,250
    $5k+ 7 $2,755,000 $393,571

    Direct Lenders's average total fees were $3,652, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.05%, while their most frequently originated rate bucket for loans was 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 or Islander 1 $305,000 $305,000 $10,310 3.50%

    Approval Rates

    Total approvals of all applications
    96.65%

    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
    68.88%

    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%