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. 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, Prescott Valley, and Virginia Beach 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 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 | 6.84% | 5/28/23 |
| 30 Year Conventional Refi | 6.62% | 5/28/23 |
| 30 Year Cash-out Refi | 6.89% | 5/28/23 |
| 30 Year FHA Purchase | 7.67% | 5/28/23 |
| 30 Year FHA Refi | 6.84% | 5/28/23 |
| 30 Year VA Purchase | 6.53% | 5/28/23 |
| 30 Year VA Refi | 6.27% | 5/28/23 |
| 30 Year USDA Purchase | 6.69% | 5/28/23 |
| 30 Year USDA Refi | 6.27% | 5/28/23 |
| 15 Year Conventional Purchase | 6.28% | 5/28/23 |
| 15 Year Conventional Refi | 6.01% | 5/28/23 |
| 15 Year Cash-out Refi | 6.01% | 5/28/23 |
| 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
1,854Origination Dollar Volume (All Markets)
$604,020,000Awards
Loan Simple - 2022
Loan Simple is a 2022 , due to their low .
For 2022, 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
4.95%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.19%.
Relative Fees (Closing Costs)
Loan Simple's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,194.
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) | 233 | $101,875,000 | $437,232 | $9,935 | 4.82% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 149 | $60,965,000 | $409,161 | $9,082 | 4.93% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 131 | $38,595,000 | $294,618 | $9,788 | 5.13% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 66 | $28,070,000 | $425,303 | $7,539 | 4.55% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 90 | $25,200,000 | $280,000 | $9,651 | 4.27% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 60 | $23,820,000 | $397,000 | $8,711 | 4.77% |
| GREELEY, CO (FHA|USDA|VA) | 55 | $23,005,000 | $418,273 | $8,140 | 4.48% |
| Outside of Metro Areas | 89 | $20,425,000 | $229,494 | $7,630 | 5.31% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 62 | $16,650,000 | $268,548 | $9,936 | 5.58% |
| FORT COLLINS, CO (FHA|USDA|VA) | 35 | $15,345,000 | $438,429 | $6,302 | 4.37% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 30 | $11,320,000 | $377,333 | $9,654 | 4.29% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 32 | $9,440,000 | $295,000 | $8,438 | 4.37% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 24 | $8,980,000 | $374,167 | $8,524 | 4.95% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 16 | $8,390,000 | $524,375 | $13,305 | 5.40% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 22 | $8,320,000 | $378,182 | $9,624 | 5.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 39 | $7,885,000 | $202,179 | $7,430 | 5.59% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 20 | $7,320,000 | $366,000 | $8,357 | 5.03% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 23 | $5,985,000 | $260,217 | $9,184 | 5.61% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 12 | $5,700,000 | $475,000 | $13,472 | 4.15% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 20 | $5,590,000 | $279,500 | $9,130 | 5.81% |
| PUEBLO, CO (FHA|USDA|VA) | 19 | $5,505,000 | $289,737 | $9,810 | 5.12% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 22 | $5,310,000 | $241,364 | $8,254 | 5.89% |
| Sonora, CA (FHA|USDA|VA) | 17 | $5,215,000 | $306,765 | $6,453 | 4.32% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 10 | $5,100,000 | $510,000 | $14,418 | 5.50% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 16 | $5,100,000 | $318,750 | $11,506 | 5.59% |
| APPLETON, WI (FHA|USDA|VA) | 21 | $4,775,000 | $227,381 | $3,423 | 4.90% |
| Cañon City, CO (FHA|USDA|VA) | 18 | $4,600,000 | $255,556 | $7,514 | 4.47% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 18 | $4,410,000 | $245,000 | $6,611 | 4.71% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 5 | $3,855,000 | $771,000 | $11,308 | 5.18% |
| RICHMOND, VA (FHA|USDA|VA) | 15 | $3,755,000 | $250,333 | $8,835 | 5.53% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $3,675,000 | $245,000 | $7,697 | 6.43% |
| BOULDER, CO (FHA|USDA|VA) | 8 | $3,290,000 | $411,250 | $8,201 | 5.19% |
| BEND, OR (FHA|USDA|VA) | 7 | $3,015,000 | $430,714 | $9,119 | 4.54% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 12 | $2,950,000 | $245,833 | $7,644 | 4.97% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 9 | $2,925,000 | $325,000 | $12,249 | 6.19% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 8 | $2,840,000 | $355,000 | $9,632 | 4.27% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 8 | $2,450,000 | $306,250 | $8,770 | 4.58% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 8 | $2,430,000 | $303,750 | $11,670 | 5.45% |
| OCALA, FL (FHA|USDA|VA) | 8 | $2,120,000 | $265,000 | $9,205 | 4.73% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 12 | $2,080,000 | $173,333 | $3,143 | 4.65% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 7 | $2,035,000 | $290,714 | $8,404 | 3.73% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 8 | $1,930,000 | $241,250 | $9,092 | 5.73% |
| EL CENTRO, CA (FHA|USDA|VA) | 6 | $1,930,000 | $321,667 | $8,753 | 2.46% |
| MEDFORD, OR (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $15,846 | 5.53% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $9,725 | 5.16% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 7 | $1,655,000 | $236,429 | $8,883 | 4.84% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 7 | $1,645,000 | $235,000 | $6,685 | 4.91% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 7 | $1,535,000 | $219,286 | $7,574 | 5.59% |
| Brookings, OR (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $10,609 | 4.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $4,994 | 4.81% |
| Riverton, WY (FHA|USDA|VA) | 5 | $1,355,000 | $271,000 | $8,072 | 4.42% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 6 | $1,340,000 | $223,333 | $5,973 | 6.21% |
| SALEM, OR (FHA|USDA|VA) | 3 | $1,315,000 | $438,333 | $7,159 | 4.63% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $13,255 | 5.22% |
| STOCKTON, CA (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $14,484 | 3.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,260,000 | $315,000 | $10,612 | 5.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $7,611 | 5.12% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 6 | $1,240,000 | $206,667 | $9,719 | 5.96% |
| Montrose, CO (FHA|USDA|VA) | 4 | $1,220,000 | $305,000 | $6,529 | 5.00% |
| Roseburg, OR (FHA|USDA|VA) | 5 | $1,165,000 | $233,000 | $8,885 | 4.15% |
| GREEN BAY, WI (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $8,383 | 3.47% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,140,000 | $190,000 | $9,813 | 6.79% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 5 | $1,105,000 | $221,000 | $10,391 | 5.43% |
| LONGVIEW, TX (FHA|USDA|VA) | 5 | $1,105,000 | $221,000 | $10,063 | 5.48% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $9,368 | 4.29% |
| CHEYENNE, WY (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $5,930 | 4.47% |
| Española, NM (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $11,793 | 5.25% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $7,973 | 4.67% |
| EL PASO, TX (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $9,215 | 5.95% |
| Edwards, CO (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $6,260 | 5.31% |
| SANTA FE, NM (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $8,220 | 5.54% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $10,583 | 3.63% |
| WACO, TX (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $9,190 | 4.72% |
| Warsaw, IN (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $5,657 | 4.53% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $6,695 | 5.33% |
| ODESSA, TX (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $10,359 | 5.41% |
| Greensburg, IN (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $7,109 | 4.88% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $7,123 | 5.38% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $7,770 | 3.25% |
| TYLER, TX (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $13,744 | 4.75% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $17,158 | 7.13% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $6,210 | 4.41% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,930 | 4.43% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $9,657 | 6.38% |
| VICTORIA, TX (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $2,935 | 3.62% |
| Athens, TX (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $8,783 | 4.58% |
| LAS CRUCES, NM (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $6,931 | 5.50% |
| CLEVELAND, TN (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $8,204 | 5.62% |
| AMARILLO, TX (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $7,889 | 6.13% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $6,407 | 3.13% |
| LONGVIEW, WA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $13,499 | 5.50% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $8,838 | 5.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $7,551 | 4.12% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $9,046 | 5.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $6,081 | 2.99% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,652 | 4.06% |
| FOND DU LAC, WI (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $4,349 | 4.63% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $16,751 | 6.99% |
| Scottsburg, IN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $8,754 | 5.31% |
| FORT WAYNE, IN (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $8,189 | 7.42% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $9,257 | 5.42% |
| Shelton, WA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $12,799 | 5.44% |
| Astoria, OR (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,901 | 4.25% |
| MIDLAND, TX (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $9,452 | 7.17% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $16,463 | 5.25% |
| Moses Lake, WA (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $5,464 | 5.63% |
| Sterling, CO (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $9,278 | 5.25% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,174 | 7.63% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $3,505 | 4.79% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $11,329 | 6.31% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $9,047 | 5.63% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,721 | 6.69% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,916 | 4.93% |
| Ontario, OR-ID (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,140 | 3.75% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $20,050 | 5.25% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $15,756 | 5.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $8,025 | 6.46% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $7,906 | 5.75% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $18,259 | 5.75% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,379 | 5.06% |
| Corsicana, TX (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $7,255 | 6.58% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $12,558 | 3.63% |
| YUMA, AZ (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,194 | 5.44% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 3.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $6,006 | 4.94% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $11,104 | 7.63% |
| MADISON, WI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $17,329 | 4.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $20,354 | 6.25% |
| El Campo, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $7,329 | 5.00% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,254 | 3.75% |
| Craig, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,888 | 3.25% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,802 | 5.75% |
| Dayton, TN (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $7,953 | 4.71% |
| Brenham, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,718 | 3.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $18,873 | 7.00% |
| FARMINGTON, NM (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $7,884 | 5.75% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $12,886 | 3.25% |
| Bonham, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,225 | 3.88% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,920 | 5.50% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $16,175 | 4.50% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $6,216 | 5.25% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,415 | 4.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,562 | 3.25% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,040 | 6.00% |
| Hobbs, NM (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $4,260 | 5.96% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,079 | 5.88% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,055 | 5.50% |
| Seymour, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $17,367 | 5.25% |
| Silver City, NM (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $7,907 | 7.75% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,802 | 5.13% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 4.38% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,217 | 4.25% |
| Wauchula, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,555 | 5.99% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,217 | 5.63% |
| RACINE, WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,242 | 4.99% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,057 | 5.63% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 5.13% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,071 | 5.99% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $7,160 | 7.75% |
| Vidalia, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $14,431 | 6.75% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,201 | 5.00% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $15,237 | 4.75% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,075 | 6.63% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,234 | 7.63% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $12,159 | 5.75% |
| Fernley, NV (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,076 | 4.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,479 | 3.99% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $15,421 | 6.13% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,648 | 4.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $11,932 | 5.50% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,810 | 2.99% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,770 | 5.38% |
| Kendallville, IN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $4,878 | 3.75% |
| Marion, IN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $4,950 | 7.75% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.88% |
| Durango, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,494 | 4.75% |
| Alice, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,736 | 3.50% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,373 | 5.99% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,985 | 6.25% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,959 | 5.50% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,805 | 5.75% |
| New Castle, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,985 | 5.25% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,028 | 4.49% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,420 | 5.25% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,507 | 2.88% |
| Gallup, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,458 | 3.88% |
| Paris, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,980 | 4.63% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $11,568 | 6.63% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,709 | 4.50% |
| Safford, AZ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $13,097 | 6.75% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,046 | 4.63% |
| Taos, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,411 | 6.38% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,764 | 2.38% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,365 | 5.50% |
| Auburn, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,495 | 7.12% |
| Manitowoc, WI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,548 | 4.31% |
| VALDOSTA, GA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $6,598 | 8.00% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,739 | 3.63% |
| Pullman, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,504 | 5.63% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,281 | 7.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,265 | 4.75% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,859 | 6.13% |
| Deming, NM (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,168 | 7.75% |
| Granbury, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,832 | 7.50% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,622 | 3.38% |
| Palestine, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,425 | 4.13% |
| Payson, AZ (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 3.75% |
| Del Rio, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $10,816 | 4.75% |
| Logansport, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,089 | 5.50% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,811 | 5.38% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,420 | 6.13% |
| Roswell, NM (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,297 | 4.49% |
| Andrews, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,986 | 6.13% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,480 | 7.63% |
| Uvalde, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,843 | 5.75% |
| Wabash, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,980 | 3.25% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,344 | 5.13% |
| Clovis, NM (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $99 | 9.25% |
| Palatka, FL (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $500 | 9.25% |
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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 2022, Loan Simple's most frequently originated type of loan was Conventional, with 1,140 originations. Their 2nd most popular type was FHA, with 554 originations.
Loan Reason
For 2022, Loan Simple's most frequently cited loan purpose was Home Purchase, with 1,536 originations. The 2nd most popular reason was Cash Out Refi, with 231 originations.
Loan Duration/Length
For 2022, Loan Simple's most frequently cited loan duration was 30 Year, with 1,746 originations. The 2nd most popular length was 10 Year, with 48 originations.
Origination Fees/Closing Costs
Loan Simple's average total fees were $9,194, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 518 originations.
Interest Rates
During 2022, Loan Simple's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 503 originations.
Loan Sizing
2022 saw Loan Simple place emphasis on $200k-400k loans with 975 originations, totaling $287,745,000 in origination value.
Applicant Income
Loan Simple lent most frequently to those with incomes in the $50k-75k range, with 490 originations. The second most popular income band? $100k-150k, with 444 originations.
Applicant Debt to Income Ratio
Loan Simple lent most frequently to those with DTI ratios of 50-60%, with 233 originations. The next most common DTI ratio? 30-36%, with 230 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.72%
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 origination45.15%
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 | 1,854 | $604,020,000 | $325,793 |