Direct Lenders Mortgage Rates, Fees & Info
LAWRENCEVILLE, GALEI: 54930052808NIU3KIW97
Tax ID: 20-2553605
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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% | 11/17/24 |
| 30 Year Conventional Refi | 6.54% | 11/17/24 |
| 30 Year Cash-out Refi | 6.90% | 11/17/24 |
| 30 Year FHA Purchase | 7.32% | 11/17/24 |
| 30 Year VA Purchase | 6.33% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.46% | 11/17/24 |
| 15 Year Conventional Purchase | 6.01% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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
572Origination Dollar Volume (All Markets)
$163,460,000Awards
DIRECT LENDERS - 2021
DIRECT LENDERS is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for DIRECT LENDERS?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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% |
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.
Similarity Rank: 305
Similarity Rank: 707
Similarity Rank: 1218
Similarity Rank: 1950
Similarity Rank: 2263
Similarity Rank: 2288
Similarity Rank: 2296
Similarity Rank: 2496
Similarity Rank: 2755
Similarity Rank: 3380
Product Mix
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
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
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
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
2021 saw Direct Lenders place emphasis on $200k-400k loans with 345 originations, totaling $97,105,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.65%
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 origination68.88%
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 |
LTV Distribution
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% |