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 small mortgage company specializing in Refi and 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, Fort Collins, Greeley, and Prescott Valley among others. We have data for 162 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.84% | 5/5/24 |
| 30 Year Conventional Refi | 6.62% | 5/5/24 |
| 30 Year Cash-out Refi | 6.89% | 5/5/24 |
| 30 Year FHA Purchase | 7.67% | 5/5/24 |
| 30 Year FHA Refi | 6.84% | 5/5/24 |
| 30 Year VA Purchase | 6.53% | 5/5/24 |
| 30 Year VA Refi | 6.27% | 5/5/24 |
| 30 Year USDA Purchase | 6.69% | 5/5/24 |
| 30 Year USDA Refi | 6.27% | 5/5/24 |
| 15 Year Conventional Purchase | 6.28% | 5/5/24 |
| 15 Year Conventional Refi | 6.01% | 5/5/24 |
| 15 Year Cash-out Refi | 6.01% | 5/5/24 |
| 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
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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
3,798Origination Dollar Volume (All Markets)
$1,158,870,000Awards
Loan Simple - 2020
Loan Simple is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 918 | $312,210,000 | $340,098 | $5,573 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 437 | $125,425,000 | $287,014 | $4,343 | 3.11% |
| FORT COLLINS, CO (FHA|USDA|VA) | 270 | $86,070,000 | $318,778 | $4,541 | 3.25% |
| GREELEY, CO (FHA|USDA|VA) | 268 | $82,760,000 | $308,806 | $5,478 | 3.30% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 252 | $80,340,000 | $318,810 | $4,812 | 3.14% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 244 | $58,660,000 | $240,410 | $6,789 | 3.36% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 136 | $41,620,000 | $306,029 | $5,732 | 2.97% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 101 | $35,545,000 | $351,931 | $5,168 | 3.04% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 101 | $31,145,000 | $308,366 | $4,714 | 3.13% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 72 | $29,310,000 | $407,083 | $4,568 | 2.87% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 49 | $19,695,000 | $401,939 | $6,105 | 3.11% |
| BEND, OR (FHA|USDA|VA) | 54 | $18,680,000 | $345,926 | $5,319 | 3.10% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 44 | $16,920,000 | $384,545 | $4,504 | 3.15% |
| BOULDER, CO (FHA|USDA|VA) | 48 | $16,290,000 | $339,375 | $4,955 | 3.07% |
| Outside of Metro Areas | 56 | $14,430,000 | $257,679 | $5,566 | 3.17% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 49 | $11,765,000 | $240,102 | $4,733 | 3.19% |
| Othello, WA (FHA|USDA|VA) | 44 | $10,220,000 | $232,273 | $4,776 | 3.30% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 45 | $10,145,000 | $225,444 | $6,770 | 3.36% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 42 | $8,380,000 | $199,524 | $4,454 | 3.22% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 24 | $7,640,000 | $318,333 | $5,318 | 3.01% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 33 | $6,835,000 | $207,121 | $4,279 | 3.15% |
| RENO, NV (FHA|USDA|VA) | 23 | $6,545,000 | $284,565 | $6,306 | 3.59% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 20 | $6,070,000 | $303,500 | $6,258 | 3.31% |
| Sonora, CA (FHA|USDA|VA) | 18 | $5,450,000 | $302,778 | $4,038 | 3.14% |
| Breckenridge, CO (FHA|USDA|VA) | 14 | $5,410,000 | $386,429 | $4,500 | 3.22% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 31 | $4,945,000 | $159,516 | $7,128 | 3.76% |
| Edwards, CO (FHA|USDA|VA) | 11 | $4,925,000 | $447,727 | $5,235 | 3.09% |
| PUEBLO, CO (FHA|USDA|VA) | 18 | $4,790,000 | $266,111 | $5,724 | 3.11% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 12 | $4,600,000 | $383,333 | $4,635 | 2.96% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 9 | $4,185,000 | $465,000 | $4,460 | 2.81% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 16 | $3,670,000 | $229,375 | $5,999 | 3.38% |
| Cañon City, CO (FHA|USDA|VA) | 18 | $3,630,000 | $201,667 | $6,018 | 2.76% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 11 | $3,565,000 | $324,091 | $4,528 | 2.93% |
| TUCSON, AZ (FHA|USDA|VA) | 12 | $3,060,000 | $255,000 | $4,980 | 2.91% |
| STOCKTON, CA (FHA|USDA|VA) | 9 | $2,945,000 | $327,222 | $5,672 | 2.93% |
| MODESTO, CA (FHA|USDA|VA) | 9 | $2,865,000 | $318,333 | $4,418 | 2.96% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 10 | $2,410,000 | $241,000 | $5,113 | 3.10% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,370,000 | $296,250 | $5,250 | 3.28% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 9 | $2,365,000 | $262,778 | $4,098 | 3.18% |
| Moses Lake, WA (FHA|USDA|VA) | 9 | $2,305,000 | $256,111 | $4,703 | 3.28% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 10 | $2,290,000 | $229,000 | $5,546 | 3.06% |
| Fort Morgan, CO (FHA|USDA|VA) | 9 | $2,045,000 | $227,222 | $7,300 | 3.51% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 13 | $2,015,000 | $155,000 | $5,687 | 3.57% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 7 | $1,925,000 | $275,000 | $7,743 | 3.14% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 7 | $1,745,000 | $249,286 | $6,270 | 3.11% |
| Glenwood Springs, CO (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $5,421 | 3.59% |
| REDDING, CA (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $2,614 | 3.09% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $5,807 | 2.94% |
| WENATCHEE, WA (FHA|USDA|VA) | 5 | $1,175,000 | $235,000 | $6,438 | 3.20% |
| Show Low, AZ (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $4,353 | 2.94% |
| Steamboat Springs, CO (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $4,649 | 3.04% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $3,530 | 2.88% |
| SALEM, OR (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $5,210 | 2.79% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,040,000 | $173,333 | $4,790 | 3.02% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $1,015,000 | $203,000 | $4,479 | 3.22% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $6,184 | 3.55% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $8,991 | 3.81% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $6,214 | 3.44% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $4,423 | 3.00% |
| Montrose, CO (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $4,054 | 3.66% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,828 | 3.58% |
| Sterling, CO (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $5,970 | 3.03% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $5,320 | 2.83% |
| LAS CRUCES, NM (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $4,841 | 3.56% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $4,812 | 3.28% |
| SANTA FE, NM (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $3,911 | 3.31% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,697 | 3.44% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $8,356 | 3.38% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $9,078 | 3.50% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $3,719 | 2.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $3,236 | 2.99% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,677 | 3.19% |
| BATON ROUGE, LA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $9,167 | 3.25% |
| CHEYENNE, WY (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $5,298 | 2.79% |
| YAKIMA, WA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $8,426 | 3.19% |
| Fernley, NV (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $8,415 | 3.25% |
| FARMINGTON, NM (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,255 | 3.50% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,530 | 2.88% |
| Beaver Dam, WI (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,516 | 3.25% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $4,670 | 3.58% |
| Centralia, WA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $6,098 | 3.13% |
| NAPA, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $6,920 | 2.63% |
| MERCED, CA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,684 | 2.99% |
| Sandpoint, ID (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $14,029 | 3.63% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,302 | 2.94% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,815 | 3.00% |
| EL PASO, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,818 | 3.44% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,982 | 3.00% |
| Athens, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,145 | 3.13% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,887 | 3.19% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,428 | 2.94% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $8,636 | 3.56% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,699 | 2.25% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,711 | 2.63% |
| CLEVELAND, TN (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,563 | 2.38% |
| Durango, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,422 | 3.50% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,156 | 2.93% |
| Hailey, ID (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,047 | 3.38% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,841 | 3.13% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,032 | 2.88% |
| Red Bluff, CA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $5,078 | 3.56% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $15,331 | 4.63% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,776 | 3.13% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,529 | 2.63% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,057 | 3.38% |
| FOND DU LAC, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,635 | 2.63% |
| Raymondville, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,182 | 2.75% |
| Roswell, NM (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,761 | 3.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,871 | 2.92% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,639 | 3.00% |
| Rock Springs, WY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,769 | 2.63% |
| Paris, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,646 | 2.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,033 | 2.63% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,456 | 2.38% |
| Los Alamos, NM (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,645 | 3.00% |
| Toccoa, GA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $5,304 | 3.56% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,215 | 2.63% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,872 | 2.88% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,856 | 3.00% |
| Granbury, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,169 | 2.75% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $5,608 | 3.31% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,119 | 3.63% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,964 | 2.63% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.63% |
| Astoria, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,420 | 3.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,014 | 3.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,398 | 4.00% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,845 | 3.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,950 | 3.13% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,893 | 3.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,645 | 2.75% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,629 | 4.50% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,800 | 3.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,447 | 4.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,758 | 3.00% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,331 | 3.13% |
| Paris, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,902 | 3.38% |
| RACINE, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,961 | 2.50% |
| Payson, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,386 | 3.50% |
| Corsicana, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,766 | 3.99% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,627 | 2.63% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,664 | 3.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,715 | 3.50% |
| Bonham, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,418 | 3.25% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,426 | 3.25% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,183 | 2.63% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,744 | 3.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,278 | 3.25% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,893 | 2.50% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $8,172 | 3.75% |
| Newport, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,855 | 2.13% |
| Pullman, WA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,308 | 3.50% |
| WACO, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,247 | 4.25% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.13% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,353 | 3.00% |
| Safford, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,861 | 2.25% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,993 | 4.50% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,035 | 3.75% |
| Palestine, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,796 | 3.00% |
| Portales, NM (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,559 | 4.13% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,290 | 2.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,174 | 3.50% |
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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 2020, Loan Simple's most frequently originated type of loan was Conventional, with 3,096 originations. Their 2nd most popular type was FHA, with 488 originations.
Loan Reason
For 2020, Loan Simple's most frequently cited loan purpose was Refi, with 1,663 originations. The 2nd most popular reason was Home Purchase, with 1,579 originations.
Loan Duration/Length
For 2020, Loan Simple's most frequently cited loan duration was 30 Year, with 3,438 originations. The 2nd most popular length was 15 Year, with 243 originations.
Origination Fees/Closing Costs
Loan Simple's average total fees were $5,425, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,895 originations.
Interest Rates
During 2020, Loan Simple's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 3-4%, with 1,682 originations.
Loan Sizing
2020 saw Loan Simple place emphasis on $200k-400k loans with 2,217 originations, totaling $651,655,000 in origination value.
Applicant Income
Loan Simple lent most frequently to those with incomes in the $50k-75k range, with 901 originations. The second most popular income band? $100k-150k, with 898 originations.
Applicant Debt to Income Ratio
Loan Simple lent most frequently to those with DTI ratios of 20-30%, with 816 originations. The next most common DTI ratio? 30-36%, with 656 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.37%
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 origination79.36%
Loan Simple has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,798 | $1,158,870,000 | $305,126 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 38 | $7,440,000 | $195,789 |
| Single Family (1-4 Units):Site-Built | 3,760 | $1,151,430,000 | $306,231 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LOAN SIMPLE INC. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| LOAN SIMPLE INC. | VA mortgage | Trouble during payment process | 1 | 50.0% |