Loan Simple Mortgage Rates, Fees & Info

Colorado Springs, CO

LEI: 549300748YYU6VG08N83

Tax ID: 84-1412422

1 stars - Updated: 7/20/24 - out of 5 stars, based on 34 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Denver, Dallas, Atlanta, Colorado Springs, and Phoenix among others. We have data for 166 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 relatively high 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 6.84% 7/20/24
30 Year Conventional Refi 6.62% 7/20/24
30 Year Cash-out Refi 6.89% 7/20/24
30 Year FHA Purchase 7.67% 7/20/24
30 Year FHA Refi 6.84% 7/20/24
30 Year VA Purchase 6.53% 7/20/24
30 Year VA Refi 6.27% 7/20/24
30 Year USDA Purchase 6.69% 7/20/24
30 Year USDA Refi 6.27% 7/20/24
15 Year Conventional Purchase 6.28% 7/20/24
15 Year Conventional Refi 6.01% 7/20/24
15 Year Cash-out Refi 6.01% 7/20/24
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.

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

1,165

Origination Dollar Volume (All Markets)

$358,145,000

Awards

Loan Simple 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Loan Simple's average 30 year fixed mortgage rate was 6.65%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.17%.

Relative Fees (Closing Costs)

Loan Simple's average total fees/closing costs for a 30 year fixed rate mortgage were $13,085.

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 $9,089.

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) 195 $79,935,000 $409,923 $12,594 6.91%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 72 $23,040,000 $320,000 $15,527 6.69%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 65 $17,115,000 $263,308 $12,462 6.58%
COLORADO SPRINGS, CO (FHA|USDA|VA) 46 $16,560,000 $360,000 $12,672 6.86%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 51 $15,025,000 $294,608 $10,968 6.54%
GREELEY, CO (FHA|USDA|VA) 36 $14,360,000 $398,889 $13,938 6.99%
Outside of Metro Areas 59 $14,265,000 $241,780 $10,508 6.97%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 44 $12,240,000 $278,182 $14,208 6.76%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 21 $7,185,000 $342,143 $14,633 6.98%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 16 $7,180,000 $448,750 $17,392 7.05%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 17 $6,815,000 $400,882 $7,585 6.96%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 14 $6,380,000 $455,714 $18,205 7.29%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 32 $6,000,000 $187,500 $7,375 5.55%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 17 $5,965,000 $350,882 $11,825 6.68%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 21 $5,435,000 $258,810 $12,586 7.38%
PUEBLO, CO (FHA|USDA|VA) 18 $5,320,000 $295,556 $11,647 6.78%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $3,915,000 $355,909 $14,376 5.98%
ALBUQUERQUE, NM (FHA|USDA|VA) 16 $3,690,000 $230,625 $11,414 6.43%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 15 $3,625,000 $241,667 $8,878 7.22%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 9 $3,575,000 $397,222 $17,936 6.54%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 12 $3,280,000 $273,333 $13,527 6.81%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 10 $2,800,000 $280,000 $11,407 5.90%
SALEM, OR (FHA|USDA|VA) 9 $2,745,000 $305,000 $13,948 7.54%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 10 $2,610,000 $261,000 $14,034 7.45%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 12 $2,420,000 $201,667 $9,013 7.71%
CORPUS CHRISTI, TX (FHA|USDA|VA) 8 $2,400,000 $300,000 $15,053 6.69%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $2,350,000 $167,857 $9,192 7.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 10 $2,310,000 $231,000 $8,615 6.37%
Cañon City, CO (FHA|USDA|VA) 8 $2,200,000 $275,000 $8,760 6.95%
RICHMOND, VA (FHA|USDA|VA) 9 $2,165,000 $240,556 $9,308 6.60%
FORT COLLINS, CO (FHA|USDA|VA) 6 $2,080,000 $346,667 $13,174 6.71%
JACKSONVILLE, FL (FHA|USDA|VA) 6 $2,010,000 $335,000 $13,667 6.81%
GRAND JUNCTION, CO (FHA|USDA|VA) 6 $1,900,000 $316,667 $12,175 6.62%
TUCSON, AZ (FHA|USDA|VA) 5 $1,895,000 $379,000 $14,293 7.20%
PORT ST. LUCIE, FL (FHA|USDA|VA) 6 $1,730,000 $288,333 $14,333 7.42%
Aberdeen, WA (FHA|USDA|VA) 7 $1,665,000 $237,857 $12,569 6.21%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,635,000 $545,000 $8,944 6.13%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 7 $1,515,000 $216,429 $12,324 6.96%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $1,495,000 $213,571 $10,713 7.84%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,410,000 $705,000 $18,989 6.00%
LONGVIEW, WA (FHA|USDA|VA) 5 $1,405,000 $281,000 $13,061 7.65%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,345,000 $448,333 $14,548 6.75%
BEND, OR (FHA|USDA|VA) 3 $1,315,000 $438,333 $13,318 7.08%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 5 $1,265,000 $253,000 $8,777 7.27%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 5 $1,255,000 $251,000 $8,977 6.90%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,235,000 $411,667 $22,230 6.38%
YAKIMA, WA (FHA|USDA|VA) 4 $1,090,000 $272,500 $13,047 6.25%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 3 $1,055,000 $351,667 $17,360 6.66%
OCALA, FL (FHA|USDA|VA) 3 $1,045,000 $348,333 $12,746 7.25%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 4 $1,040,000 $260,000 $10,024 6.38%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,020,000 $170,000 $9,032 6.27%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $995,000 $331,667 $12,898 6.13%
Centralia, WA (FHA|USDA|VA) 3 $975,000 $325,000 $13,987 6.54%
GAINESVILLE, GA (FHA|USDA|VA) 4 $970,000 $242,500 $10,857 6.81%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $930,000 $232,500 $13,973 6.75%
Roswell, NM (FHA|USDA|VA) 4 $900,000 $225,000 $10,316 5.38%
SAVANNAH, GA (FHA|USDA|VA) 4 $900,000 $225,000 $14,650 8.00%
MIDLAND, TX (FHA|USDA|VA) 3 $835,000 $278,333 $12,569 6.63%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 5 $825,000 $165,000 $8,221 8.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $815,000 $271,667 $17,386 6.21%
WARNER ROBINS, GA (FHA|USDA|VA) 3 $785,000 $261,667 $14,351 6.21%
ODESSA, TX (FHA|USDA|VA) 3 $765,000 $255,000 $13,114 6.96%
LONGVIEW, TX (FHA|USDA|VA) 5 $765,000 $153,000 $8,225 6.40%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $740,000 $370,000 $19,302 6.69%
Klamath Falls, OR (FHA|USDA|VA) 3 $705,000 $235,000 $11,528 8.04%
GRANTS PASS, OR (FHA|USDA|VA) 2 $690,000 $345,000 $14,056 7.06%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $670,000 $335,000 $11,668 6.38%
Edwards, CO (FHA|USDA|VA) 1 $665,000 $665,000 $22,519 6.50%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $660,000 $330,000 $7,094 6.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $645,000 $645,000 $4,260 6.88%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $625,000 $625,000 $4,589 6.63%
LUBBOCK, TX (FHA|USDA|VA) 2 $610,000 $305,000 $13,646 6.87%
Roseburg, OR (FHA|USDA|VA) 1 $605,000 $605,000 $13,919 7.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $585,000 $195,000 $7,182 8.17%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $575,000 $575,000 $9,426 6.50%
FORT WAYNE, IN (FHA|USDA|VA) 3 $575,000 $191,667 $7,266 8.21%
BELLINGHAM, WA (FHA|USDA|VA) 1 $545,000 $545,000 $25,942 6.75%
Lake City, FL (FHA|USDA|VA) 2 $540,000 $270,000 $10,684 6.63%
EL PASO, TX (FHA|USDA|VA) 2 $540,000 $270,000 $12,611 7.88%
LAS CRUCES, NM (FHA|USDA|VA) 2 $530,000 $265,000 $13,865 7.12%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $520,000 $260,000 $6,503 8.25%
COLUMBIA, SC (FHA|USDA|VA) 2 $510,000 $255,000 $13,491 7.38%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $485,000 $485,000 $23,221 6.25%
Hermiston-Pendleton, OR (FHA|USDA|VA) 2 $460,000 $230,000 $8,451 6.94%
Cornelia, GA (FHA|USDA|VA) 1 $445,000 $445,000 $18,241 7.13%
Coos Bay, OR (FHA|USDA|VA) 2 $440,000 $220,000 $12,498 7.13%
SANTA FE, NM (FHA|USDA|VA) 2 $440,000 $220,000 $13,806 6.81%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $420,000 $210,000 $12,672 7.13%
Waycross, GA (FHA|USDA|VA) 3 $415,000 $138,333 $6,917 7.42%
Craig, CO (FHA|USDA|VA) 2 $410,000 $205,000 $7,647 7.13%
CORVALLIS, OR (FHA|USDA|VA) 1 $405,000 $405,000 $23,739 6.75%
FARMINGTON, NM (FHA|USDA|VA) 3 $405,000 $135,000 $7,451 8.54%
Steamboat Springs, CO (FHA|USDA|VA) 1 $395,000 $395,000 $0 7.63%
EL CENTRO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $11,569 5.63%
Prineville, OR (FHA|USDA|VA) 1 $395,000 $395,000 $27,715 5.00%
Moses Lake, WA (FHA|USDA|VA) 2 $390,000 $195,000 $7,751 8.63%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $355,000 $355,000 $16,302 7.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $345,000 $345,000 $16,735 5.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $330,000 $165,000 $0 7.63%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $330,000 $165,000 $13,402 6.12%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $325,000 $325,000 $9,903 5.75%
Carlsbad-Artesia, NM (FHA|USDA|VA) 3 $325,000 $108,333 $6,550 4.92%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $325,000 $325,000 $13,706 7.25%
Fort Morgan, CO (FHA|USDA|VA) 1 $325,000 $325,000 $11,167 6.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $320,000 $160,000 $6,424 8.75%
Brenham, TX (FHA|USDA|VA) 1 $315,000 $315,000 $12,008 6.95%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $310,000 $155,000 $6,581 3.75%
WALLA WALLA, WA (FHA|USDA|VA) 2 $310,000 $155,000 $7,239 8.25%
Port Angeles, WA (FHA|USDA|VA) 2 $310,000 $155,000 $7,480 8.75%
Montrose, CO (FHA|USDA|VA) 1 $305,000 $305,000 $13,485 7.13%
Okeechobee, FL (FHA|USDA|VA) 1 $305,000 $305,000 $10,845 7.88%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $305,000 $305,000 $10,994 6.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $305,000 $305,000 $11,091 6.25%
Kerrville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $7,096 7.63%
ROANOKE, VA (FHA|USDA|VA) 1 $295,000 $295,000 $9,878 6.25%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $295,000 $295,000 $16,060 6.62%
MEDFORD, OR (FHA|USDA|VA) 1 $295,000 $295,000 $15,987 6.75%
SAN ANGELO, TX (FHA|USDA|VA) 1 $285,000 $285,000 $11,838 6.38%
KNOXVILLE, TN (FHA|USDA|VA) 1 $285,000 $285,000 $18,529 5.75%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $285,000 $285,000 $14,654 6.25%
VICTORIA, TX (FHA|USDA|VA) 2 $280,000 $140,000 $8,000 3.63%
Corsicana, TX (FHA|USDA|VA) 1 $275,000 $275,000 $13,192 7.50%
Alice, TX (FHA|USDA|VA) 1 $275,000 $275,000 $15,508 7.13%
Española, NM (FHA|USDA|VA) 1 $275,000 $275,000 $17,480 5.49%
Cedartown, GA (FHA|USDA|VA) 1 $265,000 $265,000 $17,153 5.25%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $265,000 $265,000 $15,218 5.75%
Shelton, WA (FHA|USDA|VA) 1 $265,000 $265,000 $10,401 6.63%
Hobbs, NM (FHA|USDA|VA) 1 $265,000 $265,000 $0 6.63%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $14,689 7.25%
HINESVILLE, GA (FHA|USDA|VA) 2 $260,000 $130,000 $5,873 8.31%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $255,000 $255,000 $10,516 6.63%
LaGrange, GA-AL (FHA|USDA|VA) 2 $250,000 $125,000 $6,645 8.25%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $245,000 $245,000 $6,695 7.63%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $245,000 $245,000 $8,871 6.88%
Athens, TX (FHA|USDA|VA) 2 $240,000 $120,000 $5,556 8.63%
Gallup, NM (FHA|USDA|VA) 2 $240,000 $120,000 $5,398 8.75%
Show Low, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $9,127 7.00%
ROME, GA (FHA|USDA|VA) 1 $235,000 $235,000 $9,935 6.75%
VALDOSTA, GA (FHA|USDA|VA) 1 $225,000 $225,000 $14,643 6.63%
GAINESVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,676 7.50%
Sterling, CO (FHA|USDA|VA) 1 $225,000 $225,000 $10,627 6.38%
Plymouth, IN (FHA|USDA|VA) 2 $220,000 $110,000 $5,451 8.25%
Ontario, OR-ID (FHA|USDA|VA) 2 $210,000 $105,000 $5,660 8.88%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $7,568 7.63%
APPLETON, WI (FHA|USDA|VA) 1 $205,000 $205,000 $3,591 7.13%
BRUNSWICK, GA (FHA|USDA|VA) 1 $205,000 $205,000 $10,081 7.13%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.00%
WACO, TX (FHA|USDA|VA) 1 $205,000 $205,000 $8,395 6.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $195,000 $195,000 $6,857 8.13%
Silver City, NM (FHA|USDA|VA) 1 $195,000 $195,000 $11,127 6.88%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $185,000 $185,000 $10,704 7.25%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $185,000 $185,000 $12,932 5.75%
Uvalde, TX (FHA|USDA|VA) 1 $185,000 $185,000 $10,661 6.38%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $185,000 $185,000 $8,875 5.25%
Cookeville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $6,379 6.63%
Bonham, TX (FHA|USDA|VA) 1 $175,000 $175,000 $10,718 7.25%
Palestine, TX (FHA|USDA|VA) 1 $175,000 $175,000 $9,517 6.38%
Statesboro, GA (FHA|USDA|VA) 1 $165,000 $165,000 $7,680 6.63%
Clovis, NM (FHA|USDA|VA) 1 $145,000 $145,000 $8,305 7.50%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $145,000 $145,000 $6,703 7.13%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $135,000 $135,000 $8,533 5.75%
Palatka, FL (FHA|USDA|VA) 1 $125,000 $125,000 $4,941 7.25%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $115,000 $115,000 $8,893 5.75%
Platteville, WI (FHA|USDA|VA) 2 $110,000 $55,000 $2,895 7.75%
Moultrie, GA (FHA|USDA|VA) 1 $85,000 $85,000 $6,860 7.13%
Greensburg, IN (FHA|USDA|VA) 1 $5,000 $5,000 $154 0.00%
Loan Simple's top markets include Denver, Dallas, Atlanta, Colorado Springs, and Phoenix among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • 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.

    SunWest Credit Union
    Similarity Rank: 22
    NORTHWESTERN MUTUAL
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    SYNERGY HOME MORTGAGE, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 712 $237,340,000 $333,343 $15,165 6.86%
    Conventional 421 $110,435,000 $262,316 $6,907 6.80%
    VA 19 $6,795,000 $357,632 $13,567 6.37%
    USDA 13 $3,575,000 $275,000 $12,415 6.38%

    For 2023, Loan Simple's most frequently originated type of loan was FHA, with 712 originations. Their 2nd most popular type was Conventional, with 421 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,118 $349,890,000 $312,961 $12,427 6.84%
    Refi 30 $7,630,000 $254,333 $10,063 7.06%
    Other 16 $200,000 $12,500 $75 5.28%
    Cash Out Refi 1 $425,000 $425,000 $21,225 6.63%

    For 2023, Loan Simple's most frequently cited loan purpose was Home Purchase, with 1,118 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,083 $355,515,000 $328,269 $13,085 6.65%
    10 Year 76 $1,020,000 $13,421 $111 9.54%
    15 Year 4 $1,580,000 $395,000 $9,723 6.22%
    Other 2 $30,000 $15,000 $2 0.00%

    For 2023, Loan Simple's most frequently cited loan duration was 30 Year, with 1,083 originations. The 2nd most popular length was 10 Year, with 76 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 683 $242,245,000 $354,678
    $<1k 135 $7,925,000 $58,704
    $4k-5k 110 $32,490,000 $295,364
    $3k-4k 86 $24,490,000 $284,767
    $2k-3k 78 $25,910,000 $332,179
    $1k-2k 45 $15,655,000 $347,889

    Loan Simple's average total fees were $13,085, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 683 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 538 $190,880,000 $354,796
    7-8% 380 $122,460,000 $322,263
    5-6% 114 $36,410,000 $319,386
    Over 8% 98 $7,290,000 $74,388
    <2.5% 33 $395,000 $11,970
    4-5% 2 $710,000 $355,000

    During 2023, Loan Simple's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 538 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 679 $202,795,000 $298,667 $12,973 6.85%
    $400k-600k 250 $116,030,000 $464,120 $16,671 6.83%
    $100,000 or less 116 $1,870,000 $16,121 $337 6.70%
    $100k-200k 88 $14,850,000 $168,750 $8,356 6.80%
    $600k-1MM 31 $21,285,000 $686,613 $14,612 6.75%
    $1MM+ 1 $1,315,000 $1,315,000 $8,340 6.63%

    2023 saw Loan Simple place emphasis on $200k-400k loans with 679 originations, totaling $202,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 426 $147,030,000 $345,141 $13,381 6.94%
    $75k-100k 340 $97,910,000 $287,971 $12,314 6.81%
    $50k-75k 243 $54,255,000 $223,272 $9,659 6.77%
    $150k-250k 93 $39,985,000 $429,946 $14,978 6.85%
    $50k or less 40 $6,730,000 $168,250 $8,315 5.94%
    $250k+ 23 $12,235,000 $531,957 $11,216 7.02%

    Loan Simple lent most frequently to those with incomes in the $100k-150k range, with 426 originations. The second most popular income band? $75k-100k, with 340 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 274 $89,090,000 $325,146 $14,895 6.84%
    30-36% 101 $27,525,000 $272,525 $9,518 6.71%
    49% 92 $31,670,000 $344,239 $13,482 6.91%
    48% 72 $23,830,000 $330,972 $13,579 6.93%
    45% 69 $21,475,000 $311,232 $12,139 6.92%
    46% 64 $20,230,000 $316,094 $11,838 7.07%
    47% 61 $21,355,000 $350,082 $14,068 6.89%
    20-30% 55 $15,475,000 $281,364 $9,019 7.09%
    44% 50 $16,280,000 $325,600 $11,405 7.06%
    43% 49 $15,225,000 $310,714 $12,787 6.49%
    40% 46 $11,670,000 $253,696 $9,980 6.93%
    42% 45 $13,875,000 $308,333 $11,760 6.56%
    41% 45 $11,945,000 $265,444 $10,290 6.78%
    39% 40 $12,520,000 $313,000 $11,663 6.92%
    38% 34 $8,580,000 $252,353 $9,557 7.01%
    37% 25 $7,655,000 $306,200 $8,590 6.90%
    36% 21 $6,475,000 $308,333 $10,747 6.92%
    <20% 14 $2,030,000 $145,000 $2,816 5.07%
    >60% 7 $1,235,000 $176,429 $4,842 4.61%

    Loan Simple lent most frequently to those with DTI ratios of 50-60%, with 274 originations. The next most common DTI ratio? 30-36%, with 101 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 652 $202,150,000 $310,046 $11,893 6.88%
    Not provided 348 $102,140,000 $293,506 $12,413 6.78%
    Black 112 $33,020,000 $294,821 $12,884 6.69%
    Asian 30 $12,510,000 $417,000 $13,877 6.59%
    American Indian 15 $5,055,000 $337,000 $11,248 7.48%
    Asian Indian 3 $1,575,000 $525,000 $15,362 6.29%
    Native Hawaiian or Islander 2 $900,000 $450,000 $20,431 6.25%
    Other Asian 2 $500,000 $250,000 $9,927 6.75%
    Korean 1 $295,000 $295,000 $11,457 6.38%

    Approval Rates

    Total approvals of all applications
    93.18%

    Loan Simple has an average approval rate.

    Pick Rate

    Approvals leading to origination
    37.08%

    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 1,165 $358,145,000 $307,421

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,165 $358,145,000 $307,421

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $2,075,000 $188,636 $6,440 7.15%
    40-60% 21 $6,365,000 $303,095 $8,049 6.59%
    60-80% 58 $21,880,000 $377,241 $11,250 6.80%
    80-100% 954 $323,070,000 $338,648 $13,763 6.85%
    Over 100% 9 $3,205,000 $356,111 $16,553 6.38%
    Under 20% 112 $1,550,000 $13,839 $142 6.68%