Loan Simple Mortgage Rates, Fees & Info
Colorado Springs, COLEI: 549300748YYU6VG08N83
Tax ID: 84-1412422
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Mortgage Data
Review & Overview
Loan Simple is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Loan Simple has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Denver, Greeley, Colorado Springs, Dallas, and Seattle among others. We have data for 186 markets. (Some data included below & more in-depth data is available with an active subscription.)Loan Simple 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. Loan Simple is typically a high 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 | 7.42% | 7/7/25 |
| 30 Year Conventional Refi | 7.08% | 7/7/25 |
| 30 Year FHA Purchase | 7.80% | 7/7/25 |
| 30 Year FHA Refi | 6.90% | 7/7/25 |
| 30 Year VA Purchase | 6.78% | 7/7/25 |
| 30 Year VA Refi | 8.00% | 7/7/25 |
| 30 Year USDA Purchase | 7.53% | 7/7/25 |
| 30 Year USDA Refi | 6.78% | 7/7/25 |
| 15 Year Conventional Purchase | 5.73% | 7/7/25 |
| 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. | ||
Loan Simple Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Loan Simple. 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
1,158Origination Dollar Volume (All Markets)
$381,450,000Awards
Loan Simple - 2024
Loan Simple is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Loan Simple's average 30 year fixed mortgage rate was
6.76%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Loan Simple's average total fees/closing costs for a 30 year fixed rate
mortgage were $13,093.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 274 | $113,210,000 | $413,175 | $13,673 | 6.83% |
| GREELEY, CO (FHA|USDA|VA) | 55 | $21,795,000 | $396,273 | $12,841 | 6.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 51 | $20,205,000 | $396,176 | $12,806 | 6.73% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 48 | $14,270,000 | $297,292 | $11,896 | 6.90% |
| Outside of Metro Areas | 51 | $12,695,000 | $248,922 | $10,072 | 7.14% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 24 | $11,290,000 | $470,417 | $15,175 | 6.92% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 34 | $10,710,000 | $315,000 | $10,963 | 6.98% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 45 | $10,385,000 | $230,778 | $10,319 | 7.51% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 34 | $10,050,000 | $295,588 | $12,835 | 6.68% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 15 | $5,965,000 | $397,667 | $9,705 | 6.96% |
| FORT COLLINS, CO (FHA|USDA|VA) | 13 | $5,575,000 | $428,846 | $14,464 | 6.72% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 18 | $5,250,000 | $291,667 | $7,596 | 6.81% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 13 | $4,965,000 | $381,923 | $15,773 | 6.52% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 15 | $4,695,000 | $313,000 | $12,182 | 6.09% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 14 | $4,520,000 | $322,857 | $11,110 | 7.24% |
| Fort Morgan, CO (FHA|USDA|VA) | 14 | $4,260,000 | $304,286 | $10,692 | 6.82% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 15 | $4,065,000 | $271,000 | $9,609 | 7.41% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 13 | $3,875,000 | $298,077 | $11,600 | 6.70% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9 | $3,675,000 | $408,333 | $14,307 | 7.26% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 14 | $3,610,000 | $257,857 | $8,507 | 7.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 7 | $3,255,000 | $465,000 | $18,520 | 6.61% |
| PUEBLO, CO (FHA|USDA|VA) | 12 | $3,170,000 | $264,167 | $9,656 | 6.66% |
| RICHMOND, VA (FHA|USDA|VA) | 11 | $3,035,000 | $275,909 | $13,353 | 7.22% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 5 | $2,565,000 | $513,000 | $16,030 | 6.45% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 3 | $2,405,000 | $801,667 | $7,737 | 6.96% |
| Cañon City, CO (FHA|USDA|VA) | 8 | $2,370,000 | $296,250 | $10,771 | 6.97% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 11 | $2,365,000 | $215,000 | $8,666 | 6.67% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 9 | $2,275,000 | $252,778 | $11,905 | 7.31% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $11,814 | 6.38% |
| SALEM, OR (FHA|USDA|VA) | 5 | $2,045,000 | $409,000 | $16,514 | 6.27% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $1,835,000 | $262,143 | $12,781 | 7.23% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,645,000 | $329,000 | $11,934 | 6.45% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 7 | $1,605,000 | $229,286 | $11,966 | 7.68% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $11,847 | 7.94% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $11,360 | 7.03% |
| Klamath Falls, OR (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $10,793 | 7.10% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $14,020 | 6.80% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $11,211 | 7.45% |
| Durango, CO (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $9,743 | 7.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 5 | $1,155,000 | $231,000 | $12,019 | 7.15% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $1,135,000 | $227,000 | $7,838 | 7.12% |
| HINESVILLE, GA (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $12,339 | 6.87% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $11,904 | 7.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $12,982 | 6.59% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $14,366 | 6.50% |
| BOULDER, CO (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $14,862 | 7.06% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $13,808 | 6.41% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $17,362 | 6.50% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $10,065 | 7.96% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $13,325 | 6.67% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $11,331 | 7.84% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $8,086 | 8.45% |
| EL CENTRO, CA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $12,639 | 6.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $11,239 | 6.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $12,360 | 7.12% |
| OCALA, FL (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $14,899 | 7.08% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $8,777 | 8.05% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $15,428 | 6.13% |
| Jasper, IN (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $11,245 | 6.58% |
| SANTA FE, NM (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $13,018 | 8.08% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $6,953 | 8.06% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $13,364 | 5.87% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $7,032 | 6.71% |
| BEND, OR (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $9,766 | 8.43% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $13,256 | 6.87% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $13,190 | 7.71% |
| BRUNSWICK, GA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $10,619 | 6.71% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $13,363 | 6.92% |
| Roseburg, OR (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $12,610 | 7.54% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $11,521 | 4.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $16,007 | 6.31% |
| Hobbs, NM (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $14,582 | 7.19% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $8,821 | 7.79% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $9,644 | 7.62% |
| Fergus Falls, MN (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $11,040 | 7.00% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $12,250 | 7.83% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $10,821 | 6.13% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $11,797 | 6.75% |
| Vidalia, GA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $12,378 | 6.31% |
| Las Vegas, NM (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $8,586 | 7.00% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,266 | 6.88% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $10,844 | 7.88% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $10,855 | 7.75% |
| LAS CRUCES, NM (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $9,945 | 6.94% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $12,662 | 7.13% |
| TYLER, TX (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $14,504 | 7.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $9,261 | 6.81% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $10,873 | 7.19% |
| Lufkin, TX (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $13,265 | 6.38% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $13,282 | 7.06% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $21,986 | 6.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $15,333 | 6.38% |
| Sterling, CO (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $11,516 | 6.81% |
| Newport, OR (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $22,543 | 7.13% |
| FARGO, ND-MN (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $9,023 | 7.31% |
| Astoria, OR (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $10,678 | 8.25% |
| APPLETON, WI (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $10,471 | 6.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $14,434 | 6.62% |
| ROME, GA (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $6,119 | 8.00% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $20,722 | 6.99% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $21,241 | 6.25% |
| Hood River, OR (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $13,300 | 6.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $22,585 | 6.25% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $9,744 | 6.13% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $13,073 | 6.69% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $19,404 | 7.25% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $17,878 | 5.63% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $11,522 | 7.13% |
| New Castle, IN (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $5,143 | 5.42% |
| MADISON, WI (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $20,124 | 6.13% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $14,605 | 6.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,258 | 5.63% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $19,042 | 6.25% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $5,836 | 6.88% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $19,359 | 7.00% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $10,675 | 8.75% |
| Forest City, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,462 | 7.25% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,411 | 7.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,794 | 5.50% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $24,056 | 6.24% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $12,464 | 7.49% |
| Granbury, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $16,808 | 7.13% |
| Dublin, GA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $17,286 | 6.75% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $16,527 | 6.25% |
| Martinsville, VA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $8,300 | 8.13% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,305 | 7.13% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,071 | 7.25% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $17,879 | 6.49% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $8,811 | 8.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $16,576 | 6.25% |
| DALTON, GA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $7,671 | 8.63% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,404 | 6.50% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $16,645 | 6.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,686 | 7.00% |
| Wauchula, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $15,757 | 6.63% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $16,160 | 7.25% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $15,480 | 7.25% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $12,013 | 7.13% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,482 | 8.50% |
| Shelby, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $13,749 | 7.25% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $14,758 | 6.13% |
| WACO, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $15,173 | 6.75% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $11,235 | 7.25% |
| Bemidji, MN (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $6,736 | 7.13% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $13,888 | 6.75% |
| Shawano, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,851 | 6.13% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,363 | 6.75% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $7,566 | 8.25% |
| Auburn, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,634 | 7.99% |
| Greensburg, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,967 | 7.75% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $6,433 | 8.63% |
| Wilson, NC (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $8,217 | 8.25% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,034 | 6.62% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $13,018 | 7.00% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $13,006 | 6.63% |
| Ontario, OR-ID (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,126 | 6.63% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,936 | 6.63% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $13,075 | 7.38% |
| Plymouth, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,952 | 7.13% |
| RACINE, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,402 | 6.88% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,651 | 7.13% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,787 | 7.13% |
| Taos, NM (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $14,864 | 6.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,832 | 7.50% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $14,098 | 7.25% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,147 | 7.13% |
| Marshall, MN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,456 | 7.63% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,521 | 6.63% |
| Paris, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $13,161 | 8.00% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,898 | 7.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,594 | 7.13% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,900 | 8.25% |
| Safford, AZ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,508 | 5.99% |
| Winona, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,223 | 7.25% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,607 | 6.25% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $12,053 | 6.63% |
| Connersville, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $10,400 | 6.75% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,871 | 7.75% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $11,276 | 6.50% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $5,552 | 8.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,094 | 7.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $9,902 | 7.25% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,420 | 7.25% |
| Deming, NM (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,956 | 8.63% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $9,937 | 7.75% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $255 | 9.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Loan Simple 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 2024, Loan Simple's most frequently originated type of loan was FHA, with 794 originations. Their 2nd most popular type was Conventional, with 314 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,055 | $344,705,000 | $326,735 | $12,406 | 7.04% |
| Refi | 103 | $36,745,000 | $356,748 | $8,766 | 6.06% |
For 2024, Loan Simple's most frequently cited loan purpose was Home Purchase, with 1,055 originations. The 2nd most popular reason was Refi, with 103 originations.
Loan Duration/Length
For 2024, Loan Simple's most frequently cited loan duration was 30 Year, with 1,049 originations. The 2nd most popular length was 10 Year, with 88 originations.
Origination Fees/Closing Costs
Loan Simple's average total fees were $13,093, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 626 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 657 | $241,805,000 | $368,044 |
| 7-8% | 309 | $102,965,000 | $333,220 |
| 5-6% | 95 | $34,315,000 | $361,211 |
| Over 8% | 91 | $2,305,000 | $25,330 |
| <2.5% | 5 | $55,000 | $11,000 |
During 2024, Loan Simple's average interest rate for loans was 6.76%, while their most frequently originated rate bucket for loans was 6-7%, with 657 originations.
Loan Sizing
2024 saw Loan Simple place emphasis on $200k-400k loans with 653 originations, totaling $197,765,000 in origination value.
Applicant Income
Loan Simple lent most frequently to those with incomes in the $100k-150k range, with 416 originations. The second most popular income band? $75k-100k, with 313 originations.
Applicant Debt to Income Ratio
Loan Simple lent most frequently to those with DTI ratios of 50-60%, with 304 originations. The next most common DTI ratio? 49%, with 96 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.70%
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 origination39.64%
Loan Simple 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 | 1,158 | $381,450,000 | $329,404 |