Loan Simple Mortgage Rates, Fees & Info

Colorado Springs, CO

LEI: 549300748YYU6VG08N83

Tax ID: 84-1412422

4.1 stars - out of 5 stars, based on 63 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Denver, Phoenix, Dallas, Las Vegas, and Greeley among others. We have data for 219 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 an average 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
    Home Equity Line of Credit (HELOC) 6.58% 12/4/22
    30 Year Conventional Purchase 7.01% 12/4/22
    30 Year Conventional Refi 6.76% 12/4/22
    30 Year Cash-out Refi 6.99% 12/4/22
    30 Year FHA Purchase 8.07% 12/4/22
    30 Year FHA Refi 7.34% 12/4/22
    30 Year VA Purchase 6.63% 12/4/22
    30 Year VA Refi 6.29% 12/4/22
    30 Year USDA Purchase 7.08% 12/4/22
    30 Year USDA Refi 6.78% 12/4/22
    15 Year Conventional Purchase 6.05% 12/4/22
    15 Year Conventional Refi 6.05% 12/4/22
    15 Year Cash-out Refi 6.05% 12/4/22
    15 Year VA Refi 5.25% 12/4/22
    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.


    Originations

    3,964

    Origination Dollar Volume (All Markets)

    $1,217,470,000
    Show all (7) awards

    Relative Rate

    Loan Simple's average 30 year fixed mortgage rate was 3.13%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.02%.

    Relative Fees (Closing Costs)

    Loan Simple's average total fees/closing costs for a 30 year fixed rate mortgage were $5,724.

    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 $4,750.

    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) 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.

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

    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 56
    People's Community Federal Credit Union
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    SunWest Credit Union
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    Great Basin Federal Credit Union
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    Christian Community Credit Union
    Similarity Rank: 354
    First Credit Union
    Similarity Rank: 378
    AMOCO
    Similarity Rank: 405
    The Greenwood's State Bank
    Similarity Rank: 500
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 560
    AAXY L.L.C.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Loan Simple's most frequently originated type of loan was Conventional, with 3,116 originations. Their 2nd most popular type was FHA, with 569 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Loan Simple's most frequently cited loan purpose was Home Purchase, with 2,343 originations. The 2nd most popular reason was 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 2021, Loan Simple's most frequently cited loan duration was 30 Year, with 3,677 originations. The 2nd most popular length was 15 Year, with 170 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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
    $5k+ 304 $120,060,000 $394,934
    $3k-4k 227 $67,715,000 $298,304
    $4k-5k 161 $51,905,000 $322,391

    Loan Simple's average total fees were $5,724, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.13%, while their most frequently originated rate bucket for loans was 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 or Islander 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 applications
    97.25%

    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 origination
    60.34%

    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 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%