Loan Simple Mortgage Rates, Fees & Info
Colorado Springs, COLEI: 549300748YYU6VG08N83
Tax ID: 84-1412422
4.1 stars
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Mortgage Data
Overview
Loan Simple is a small mortgage company specializing in Home Purchase and Refi loans. Loan Simple 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 include Denver, Phoenix, Dallas, Las Vegas, and Greeley among others. Loan Simple has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Loan Simple is typically an average fee lendor.Originations
3,964Origination Dollar Volume (All Markets)
$1,217,470,000Awards
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Loan Simple - 2021
Loan Simple is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Loan Simple 's average 30 year fixed rate mortgage of loans were
3.13%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.02%.
Relative Fees
Loan Simple 's average total fees for a 30 year fixed rate
mortgage are $5,724.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 729 | $270,105,000 | $370,514 | $5,352 | 3.07% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 410 | $135,570,000 | $330,659 | $4,791 | 3.15% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 274 | $74,480,000 | $271,825 | $6,938 | 3.28% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 256 | $67,340,000 | $263,047 | $5,471 | 3.21% |
| GREELEY, CO (FHA|USDA|VA) | 196 | $67,070,000 | $342,194 | $5,616 | 3.14% |
| FORT COLLINS, CO (FHA|USDA|VA) | 196 | $66,440,000 | $338,980 | $4,853 | 3.11% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 172 | $58,450,000 | $339,826 | $5,393 | 3.09% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 130 | $44,310,000 | $340,846 | $6,438 | 2.91% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 65 | $23,535,000 | $362,077 | $6,161 | 3.08% |
| Outside of Metro Areas | 93 | $21,675,000 | $233,065 | $5,161 | 2.96% |
| Sonora, CA (FHA|USDA|VA) | 68 | $20,340,000 | $299,118 | $5,189 | 2.89% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 82 | $20,200,000 | $246,341 | $6,518 | 3.19% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 75 | $17,695,000 | $235,933 | $5,299 | 3.27% |
| APPLETON, WI (FHA|USDA|VA) | 69 | $15,405,000 | $223,261 | $2,549 | 3.00% |
| BOULDER, CO (FHA|USDA|VA) | 39 | $13,885,000 | $356,026 | $4,843 | 3.21% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 32 | $12,980,000 | $405,625 | $6,557 | 2.84% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 25 | $12,055,000 | $482,200 | $9,542 | 2.93% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 28 | $10,610,000 | $378,929 | $5,074 | 3.07% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 28 | $9,880,000 | $352,857 | $7,792 | 3.08% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 23 | $8,785,000 | $381,957 | $6,795 | 3.26% |
| Cañon City, CO (FHA|USDA|VA) | 36 | $7,890,000 | $219,167 | $5,781 | 2.96% |
| BEND, OR (FHA|USDA|VA) | 20 | $7,160,000 | $358,000 | $5,485 | 3.24% |
| PUEBLO, CO (FHA|USDA|VA) | 27 | $7,015,000 | $259,815 | $5,084 | 3.15% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 25 | $6,765,000 | $270,600 | $8,750 | 3.36% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 31 | $6,735,000 | $217,258 | $2,430 | 2.98% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 18 | $6,660,000 | $370,000 | $6,996 | 3.12% |
| Othello, WA (FHA|USDA|VA) | 31 | $6,485,000 | $209,194 | $5,297 | 3.15% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 24 | $6,460,000 | $269,167 | $7,332 | 3.36% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 30 | $6,350,000 | $211,667 | $5,095 | 3.31% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 23 | $6,245,000 | $271,522 | $8,106 | 2.71% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 20 | $5,820,000 | $291,000 | $5,757 | 3.29% |
| MODESTO, CA (FHA|USDA|VA) | 18 | $5,690,000 | $316,111 | $5,439 | 2.87% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 25 | $5,545,000 | $221,800 | $5,224 | 3.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 11 | $4,675,000 | $425,000 | $6,027 | 2.84% |
| GREEN BAY, WI (FHA|USDA|VA) | 23 | $4,505,000 | $195,870 | $2,080 | 3.21% |
| TUCSON, AZ (FHA|USDA|VA) | 19 | $4,245,000 | $223,421 | $4,995 | 3.20% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 14 | $4,170,000 | $297,857 | $4,303 | 3.01% |
| Fort Morgan, CO (FHA|USDA|VA) | 16 | $3,650,000 | $228,125 | $5,912 | 3.30% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 9 | $3,645,000 | $405,000 | $7,531 | 3.08% |
| STOCKTON, CA (FHA|USDA|VA) | 10 | $3,600,000 | $360,000 | $8,456 | 3.15% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 15 | $3,585,000 | $239,000 | $5,040 | 2.92% |
| CHEYENNE, WY (FHA|USDA|VA) | 11 | $3,205,000 | $291,364 | $6,521 | 3.06% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 11 | $3,155,000 | $286,818 | $7,961 | 3.12% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 10 | $3,110,000 | $311,000 | $9,033 | 2.69% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $3,030,000 | $505,000 | $6,269 | 3.19% |
| Riverton, WY (FHA|USDA|VA) | 17 | $2,905,000 | $170,882 | $4,158 | 2.93% |
| EL CENTRO, CA (FHA|USDA|VA) | 9 | $2,685,000 | $298,333 | $6,920 | 2.46% |
| SALEM, OR (FHA|USDA|VA) | 7 | $2,585,000 | $369,286 | $5,868 | 3.18% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 9 | $2,475,000 | $275,000 | $6,690 | 2.75% |
| Edwards, CO (FHA|USDA|VA) | 5 | $2,425,000 | $485,000 | $4,007 | 2.90% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $2,370,000 | $237,000 | $5,393 | 2.74% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 12 | $2,350,000 | $195,833 | $5,412 | 3.41% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 8 | $2,300,000 | $287,500 | $6,373 | 3.17% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 9 | $2,105,000 | $233,889 | $6,179 | 2.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $2,030,000 | $338,333 | $5,796 | 3.27% |
| Moses Lake, WA (FHA|USDA|VA) | 8 | $2,010,000 | $251,250 | $4,296 | 2.84% |
| Breckenridge, CO (FHA|USDA|VA) | 3 | $1,935,000 | $645,000 | $3,530 | 2.92% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $1,905,000 | $635,000 | $5,898 | 2.87% |
| MEDFORD, OR (FHA|USDA|VA) | 6 | $1,870,000 | $311,667 | $8,371 | 3.27% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 8 | $1,770,000 | $221,250 | $3,018 | 3.34% |
| RENO, NV (FHA|USDA|VA) | 4 | $1,720,000 | $430,000 | $4,115 | 3.44% |
| BELLINGHAM, WA (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $4,973 | 3.06% |
| Manitowoc, WI (FHA|USDA|VA) | 7 | $1,375,000 | $196,429 | $3,665 | 2.87% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 8 | $1,350,000 | $168,750 | $4,967 | 2.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,325,000 | $265,000 | $15,751 | 2.98% |
| MIDLAND, TX (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $6,897 | 3.15% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $8,628 | 3.30% |
| TYLER, TX (FHA|USDA|VA) | 6 | $1,240,000 | $206,667 | $5,209 | 2.96% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 5 | $1,225,000 | $245,000 | $4,529 | 3.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 7 | $1,205,000 | $172,143 | $4,982 | 3.04% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $6,857 | 2.81% |
| REDDING, CA (FHA|USDA|VA) | 2 | $1,130,000 | $565,000 | $4,236 | 3.06% |
| Aberdeen, WA (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $4,535 | 3.81% |
| LAS CRUCES, NM (FHA|USDA|VA) | 7 | $1,125,000 | $160,714 | $4,991 | 2.84% |
| YUMA, AZ (FHA|USDA|VA) | 6 | $1,110,000 | $185,000 | $6,478 | 2.68% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $4,098 | 3.44% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $3,006 | 3.08% |
| RACINE, WI (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $2,465 | 2.88% |
| Pahrump, NV (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $5,760 | 3.03% |
| CLEVELAND, TN (FHA|USDA|VA) | 7 | $985,000 | $140,714 | $3,940 | 3.03% |
| SPARTANBURG, SC (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $5,766 | 2.75% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 6 | $980,000 | $163,333 | $6,832 | 3.08% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $6,335 | 3.22% |
| YAKIMA, WA (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $6,667 | 3.50% |
| Clewiston, FL (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $5,255 | 2.80% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $4,506 | 3.29% |
| GRANTS PASS, OR (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $8,098 | 3.17% |
| ODESSA, TX (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $6,221 | 2.95% |
| Show Low, AZ (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $5,956 | 2.94% |
| OCALA, FL (FHA|USDA|VA) | 5 | $895,000 | $179,000 | $5,359 | 2.88% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $4,505 | 3.03% |
| MADISON, WI (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $6,619 | 2.71% |
| COLUMBIA, SC (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $7,978 | 2.81% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $5,110 | 2.16% |
| Granbury, TX (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $9,720 | 3.29% |
| SANTA FE, NM (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $4,927 | 4.16% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $4,949 | 3.37% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $3,016 | 3.12% |
| Glenwood Springs, CO (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $4,646 | 3.00% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $3,951 | 2.92% |
| Athens, TX (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $8,145 | 3.50% |
| LONGVIEW, TX (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $6,246 | 3.22% |
| ABILENE, TX (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $7,990 | 3.33% |
| LUBBOCK, TX (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $4,816 | 3.00% |
| Sulphur Springs, TX (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $6,787 | 4.21% |
| CORVALLIS, OR (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $9,779 | 3.50% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $5,707 | 3.04% |
| FARMINGTON, NM (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $4,399 | 3.12% |
| NAPA, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,649 | 3.13% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $17,052 | 2.50% |
| Alamogordo, NM (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $5,397 | 3.13% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $4,150 | 3.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $6,787 | 2.79% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $6,067 | 2.94% |
| WACO, TX (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $6,984 | 3.42% |
| Coos Bay, OR (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $7,524 | 2.21% |
| Steamboat Springs, CO (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,023 | 3.00% |
| Warsaw, IN (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $2,772 | 2.69% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $5,837 | 3.29% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $6,427 | 3.25% |
| Port Angeles, WA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,903 | 3.31% |
| Whitewater, WI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,996 | 2.75% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $1,721 | 2.56% |
| Mount Pleasant, TX (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $4,688 | 2.09% |
| The Dalles, OR (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,918 | 3.13% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $4,818 | 2.88% |
| LONGVIEW, WA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $8,888 | 3.44% |
| Hobbs, NM (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,691 | 2.42% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,657 | 2.88% |
| Klamath Falls, OR (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,579 | 3.56% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,910 | 3.50% |
| Seneca, SC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $10,573 | 2.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,326 | 3.13% |
| FOND DU LAC, WI (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,127 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,105 | 3.43% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,001 | 2.93% |
| Prineville, OR (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,260 | 3.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,425 | 3.25% |
| Sterling, CO (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,401 | 3.13% |
| Los Alamos, NM (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $9,701 | 3.38% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,630 | 2.81% |
| Roswell, NM (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $1,943 | 2.33% |
| Huntsville, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $8,135 | 3.63% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,131 | 2.88% |
| Durango, CO (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,544 | 2.87% |
| Ruidoso, NM (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $8,004 | 3.81% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,676 | 3.33% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $10,245 | 2.38% |
| Levelland, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $7,579 | 2.88% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,931 | 4.69% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,004 | 2.99% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,016 | 2.88% |
| Shelton, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,927 | 2.88% |
| Gainesville, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $6,629 | 4.06% |
| Fernley, NV (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,551 | 3.75% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,150 | 3.13% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,206 | 3.13% |
| Brenham, TX (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $7,909 | 2.13% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,508 | 2.88% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,306 | 3.00% |
| VICTORIA, TX (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,528 | 3.44% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,133 | 2.50% |
| Crossville, TN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,957 | 3.25% |
| Española, NM (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,120 | 3.38% |
| Taos, NM (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,110 | 2.88% |
| Craig, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,732 | 3.25% |
| Las Vegas, NM (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $6,853 | 3.00% |
| Grants, NM (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,000 | 3.50% |
| Brookings, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,592 | 3.50% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,273 | 3.00% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,728 | 2.75% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,499 | 2.75% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,528 | 3.63% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,026 | 2.50% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,622 | 3.75% |
| CHICO, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,492 | 2.88% |
| La Grande, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,975 | 2.99% |
| Centralia, WA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,795 | 3.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,377 | 3.25% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $12,487 | 2.25% |
| Pullman, WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 3.25% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,720 | 2.75% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,572 | 3.75% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,548 | 3.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,883 | 3.50% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,904 | 2.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,411 | 3.13% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,435 | 3.13% |
| JACKSON, TN (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $5,189 | 1.94% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,160 | 1.94% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,775 | 2.75% |
| Safford, AZ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,703 | 2.75% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,805 | 3.38% |
| Gillette, WY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,413 | 3.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,430 | 3.88% |
| El Campo, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,386 | 3.25% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $3,263 | 5.31% |
| Carroll, IA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,664 | 2.99% |
| Silver City, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,981 | 3.38% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,069 | 2.25% |
| Columbus, NE (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,422 | 2.88% |
| Tifton, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,051 | 3.63% |
| Evanston, WY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $10,180 | 4.13% |
| Palatka, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,608 | 3.38% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $9,873 | 3.63% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,405 | 3.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,232 | 2.13% |
| Seymour, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,731 | 2.88% |
| Bonham, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,569 | 3.38% |
| Bedford, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,532 | 3.13% |
| Paris, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,167 | 3.50% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,408 | 2.88% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,770 | 4.13% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,039 | 3.25% |
| McAlester, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,468 | 2.99% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,119 | 3.38% |
| Nacogdoches, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,314 | 2.88% |
| Shawano, WI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.63% |
| TULSA, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,839 | 3.25% |
Loan Simple 's top markets include Denver, Phoenix, Dallas, Las Vegas, and Greeley among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 3,116 | $963,090,000 | $309,079 | $4,329 | 3.09% |
| FHA | 569 | $163,855,000 | $287,970 | $10,294 | 3.34% |
| VA | 177 | $65,425,000 | $369,633 | $9,079 | 2.73% |
| USDA | 102 | $25,100,000 | $246,078 | $6,990 | 2.88% |
For the 2021 period, Loan Simple 's most frequently originated loan type of loans were Conventional, with 3,116 originations. Their 2nd most popular type is FHA, with 569 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 2,343 | $729,685,000 | $311,432 | $6,296 | 3.15% |
| Refi | 888 | $263,790,000 | $297,061 | $4,014 | 2.91% |
| Cash Out Refi | 733 | $223,995,000 | $305,587 | $4,975 | 3.20% |
For the 2021, Loan Simple 's most frequently cited loan purpose of loans were Home Purchase, with 2,343 originations. The 2nd most popular reason of loans were Refi, with 888 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3,677 | $1,151,785,000 | $313,240 | $5,724 | 3.13% |
| 15 Year | 170 | $41,100,000 | $241,765 | $4,022 | 2.51% |
| 20 Year | 71 | $18,445,000 | $259,789 | $3,934 | 2.96% |
| 10 Year | 31 | $1,075,000 | $34,677 | $624 | 3.23% |
| Other | 15 | $5,065,000 | $337,667 | $2,748 | 2.87% |
For the 2021, Loan Simple 's most frequently cited loan length of loans were 30 Year, with 3,677 originations. The 2nd most popular length of loans were 15 Year, with 170 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,622 | $518,400,000 | $319,605 |
| $<1k | 789 | $220,545,000 | $279,525 |
| $2k-3k | 512 | $140,400,000 | $274,219 |
| $3k-4k | 388 | $119,620,000 | $308,299 |
| $5k+ | 304 | $120,060,000 | $394,934 |
$5,724 of loans were Loan Simple 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,622 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,879 | $587,485,000 | $312,658 |
| 2.5-3% | 1,554 | $495,390,000 | $318,784 |
| <2.5% | 368 | $94,880,000 | $257,826 |
| 4-5% | 145 | $39,305,000 | $271,069 |
| 5-6% | 18 | $410,000 | $22,778 |
During 2021, Loan Simple 's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 3-4%, with 1,879 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 2,220 | $646,180,000 | $291,072 | $5,672 | 3.14% |
| $400k-600k | 816 | $389,850,000 | $477,757 | $6,492 | 3.10% |
| $100k-200k | 707 | $113,425,000 | $160,431 | $4,485 | 3.16% |
| $100,000 or less | 144 | $5,760,000 | $40,000 | $1,403 | 2.31% |
| $600k-1MM | 65 | $47,295,000 | $727,615 | $9,822 | 3.16% |
| $1MM+ | 12 | $14,960,000 | $1,246,667 | $7,624 | 3.29% |
2021 saw Loan Simple place emphasis on $200k-400k loans with 2,220 originations, totaling $646,180,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 1,126 | $286,840,000 | $254,742 | $5,559 | 3.10% |
| $100k-150k | 817 | $294,505,000 | $360,471 | $5,859 | 3.10% |
| $75k-100k | 796 | $249,070,000 | $312,902 | $5,722 | 3.13% |
| $50k or less | 582 | $114,500,000 | $196,735 | $4,777 | 3.05% |
| $150k-250k | 452 | $181,530,000 | $401,615 | $5,751 | 3.13% |
| $250k+ | 184 | $89,150,000 | $484,511 | $5,944 | 3.15% |
Loan Simple lent most frequently to those with incomes in the $50k-75k range, with 1,126 originations. The second most popular income band? $100k-150k, with 817 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 727 | $222,015,000 | $305,385 | $4,682 | 3.02% |
| 30-36% | 676 | $206,510,000 | $305,488 | $5,049 | 3.10% |
| <20% | 232 | $62,960,000 | $271,379 | $3,624 | 2.85% |
| 44% | 201 | $65,355,000 | $325,149 | $5,991 | 3.20% |
| 49% | 177 | $53,185,000 | $300,480 | $6,502 | 3.17% |
| 43% | 174 | $52,370,000 | $300,977 | $4,985 | 3.17% |
| 42% | 171 | $53,945,000 | $315,468 | $6,129 | 3.23% |
| 50-60% | 160 | $45,520,000 | $284,500 | $9,666 | 3.23% |
| 40% | 156 | $51,380,000 | $329,359 | $5,515 | 3.11% |
| 39% | 156 | $48,530,000 | $311,090 | $5,984 | 3.22% |
| 41% | 154 | $47,040,000 | $305,455 | $5,598 | 3.18% |
| 37% | 152 | $48,230,000 | $317,303 | $5,653 | 3.14% |
| 36% | 150 | $45,110,000 | $300,733 | $5,749 | 3.02% |
| 45% | 139 | $42,715,000 | $307,302 | $6,153 | 3.13% |
| 38% | 135 | $43,795,000 | $324,407 | $5,843 | 3.17% |
| 46% | 134 | $41,620,000 | $310,597 | $6,351 | 3.18% |
| 47% | 121 | $38,255,000 | $316,157 | $6,254 | 3.18% |
| 48% | 112 | $36,780,000 | $328,393 | $6,125 | 3.18% |
| >60% | 32 | $11,060,000 | $345,625 | $5,102 | 2.57% |
Loan Simple lent most frequently to those with DTI ratios of 20-30%, with 727 originations. The next most common DTI ratio? 30-36%, with 676 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,950 | $897,630,000 | $304,281 | $5,409 | 3.10% |
| Not provided | 573 | $186,515,000 | $325,506 | $5,876 | 3.08% |
| Asian | 207 | $68,195,000 | $329,444 | $4,988 | 3.14% |
| Black | 159 | $44,295,000 | $278,585 | $7,613 | 3.21% |
| American Indian | 53 | $13,775,000 | $259,906 | $6,035 | 3.21% |
| Native Hawaiian | 5 | $1,985,000 | $397,000 | $5,454 | 2.92% |
| Asian Indian | 6 | $1,900,000 | $316,667 | $6,335 | 3.17% |
| Other Asian | 5 | $1,485,000 | $297,000 | $3,684 | 3.17% |
| Filipino | 3 | $865,000 | $288,333 | $7,866 | 3.42% |
| Korean | 1 | $435,000 | $435,000 | $5,726 | 2.99% |
| Other Pacific Islander | 1 | $285,000 | $285,000 | $5,327 | 3.50% |
| Chinese | 1 | $105,000 | $105,000 | $0 | 3.88% |
Approval Rates
Total approvals of all applications97.31%
Loan Simple has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.50%
Loan Simple has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,964 | $1,217,470,000 | $307,132 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,964 | $1,217,470,000 | $307,132 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 150 | $30,330,000 | $202,200 | $3,849 | 2.90% |
| 40-60% | 497 | $146,455,000 | $294,678 | $3,876 | 2.97% |
| 60-80% | 1,245 | $405,975,000 | $326,084 | $4,703 | 3.17% |
| 80-100% | 1,926 | $612,180,000 | $317,850 | $6,559 | 3.19% |
| Over 100% | 51 | $19,975,000 | $391,667 | $14,289 | 2.88% |
| Under 20% | 95 | $2,555,000 | $26,895 | $606 | 1.77% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LOAN SIMPLE INC. | FHA mortgage | Closing on a mortgage | 2 | 100.0% |
