Loansnap Mortgage Rates, Fees & Info
Sacramento, CALEI: 5493007LCGK7U7USNX41
Tax ID: 33-0834150
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Loansnap is a smaller mortgage company specializing in Refi loans. Loansnap has a high proportion of conventional loans. Their top markets include Los Angeles, San Francisco, Denver, Phoenix, and Riverside among others. Loansnap has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Loansnap is typically a low fee lendor.Originations
1,269Origination Dollar Volume (All Markets)
$498,855,000Awards
LOANSNAP - 2021
LOANSNAP is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Loansnap 's average 30 year fixed rate mortgage of loans were
2.86%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.29%.
Relative Fees
Loansnap 's average total fees for a 30 year fixed rate
mortgage are $1,696.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 139 | $65,095,000 | $468,309 | $1,384 | 2.77% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 69 | $34,305,000 | $497,174 | $1,667 | 2.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 89 | $34,135,000 | $383,539 | $1,460 | 2.77% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 94 | $33,330,000 | $354,574 | $1,393 | 2.86% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 75 | $28,705,000 | $382,733 | $1,605 | 2.85% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 55 | $25,115,000 | $456,636 | $1,779 | 2.77% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 58 | $19,880,000 | $342,759 | $1,871 | 2.84% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 42 | $17,760,000 | $422,857 | $1,564 | 2.76% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 47 | $17,685,000 | $376,277 | $1,495 | 2.75% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 39 | $17,195,000 | $440,897 | $1,203 | 2.74% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 22 | $12,840,000 | $583,636 | $1,340 | 2.65% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 25 | $9,755,000 | $390,200 | $1,515 | 2.80% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 24 | $8,690,000 | $362,083 | $1,438 | 2.83% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 24 | $8,480,000 | $353,333 | $3,022 | 2.79% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 24 | $8,200,000 | $341,667 | $2,215 | 2.85% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 22 | $7,260,000 | $330,000 | $3,366 | 2.72% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 16 | $6,790,000 | $424,375 | $1,372 | 2.81% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 18 | $6,410,000 | $356,111 | $2,907 | 2.93% |
| STOCKTON, CA (FHA|USDA|VA) | 14 | $5,790,000 | $413,571 | $1,181 | 2.71% |
| VALLEJO, CA (FHA|USDA|VA) | 12 | $4,660,000 | $388,333 | $1,939 | 2.78% |
| Outside of Metro Areas | 13 | $4,275,000 | $328,846 | $1,805 | 2.72% |
| MODESTO, CA (FHA|USDA|VA) | 11 | $4,035,000 | $366,818 | $2,453 | 2.76% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 11 | $3,775,000 | $343,182 | $2,344 | 2.91% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 10 | $3,710,000 | $371,000 | $2,439 | 2.79% |
| FRESNO, CA (FHA|USDA|VA) | 10 | $3,450,000 | $345,000 | $1,864 | 2.70% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 8 | $3,430,000 | $428,750 | $3,504 | 2.64% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 11 | $3,375,000 | $306,818 | $1,813 | 2.76% |
| COLUMBUS, OH (FHA|USDA|VA) | 9 | $3,365,000 | $373,889 | $1,464 | 2.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 7 | $3,255,000 | $465,000 | $1,680 | 2.73% |
| BOULDER, CO (FHA|USDA|VA) | 8 | $3,160,000 | $395,000 | $1,006 | 2.84% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 6 | $2,810,000 | $468,333 | $2,062 | 2.81% |
| GREELEY, CO (FHA|USDA|VA) | 8 | $2,700,000 | $337,500 | $1,944 | 2.89% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 6 | $2,590,000 | $431,667 | $740 | 2.69% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 6 | $2,520,000 | $420,000 | $1,893 | 2.79% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $2,435,000 | $347,857 | $2,515 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 7 | $2,275,000 | $325,000 | $2,913 | 3.02% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 7 | $2,265,000 | $323,571 | $1,225 | 2.86% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $2,230,000 | $371,667 | $1,454 | 2.73% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $1,658 | 2.89% |
| TUCSON, AZ (FHA|USDA|VA) | 7 | $2,095,000 | $299,286 | $1,245 | 2.68% |
| FORT COLLINS, CO (FHA|USDA|VA) | 6 | $2,060,000 | $343,333 | $1,391 | 2.73% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $1,975,000 | $395,000 | $1,976 | 2.47% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,885,000 | $377,000 | $2,440 | 2.88% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 4 | $1,820,000 | $455,000 | $1,572 | 2.59% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,665,000 | $333,000 | $2,889 | 2.82% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $1,886 | 2.60% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 6 | $1,620,000 | $270,000 | $1,906 | 2.92% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $1,146 | 2.53% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 4 | $1,530,000 | $382,500 | $1,172 | 2.53% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $1,410 | 2.75% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $1,911 | 2.80% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $1,494 | 2.66% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $2,325 | 2.88% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $1,861 | 2.78% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $2,770 | 3.03% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $1,285 | 3.00% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $1,233 | 2.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $1,807 | 2.96% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $2,916 | 2.91% |
| AKRON, OH (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $1,264 | 2.88% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $1,914 | 2.88% |
| BEND, OR (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $3,546 | 2.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $2,486 | 3.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $2,093 | 2.92% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $702 | 2.69% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $2,937 | 3.00% |
| Edwards, CO (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $2,477 | 3.19% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $3,317 | 2.56% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $523 | 2.38% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $509 | 2.92% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $1,873 | 3.38% |
| Durango, CO (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 2.88% |
| TOLEDO, OH (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,128 | 2.69% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $2,891 | 2.81% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $2,065 | 2.88% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $1,040 | 2.50% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $2,785 | 2.75% |
| NAPA, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,071 | 3.00% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $1,407 | 2.75% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $1,107 | 2.81% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $2,830 | 2.69% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $2,071 | 2.81% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $1,521 | 3.06% |
| Nogales, AZ (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,878 | 2.75% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $1,129 | 2.88% |
| MADERA, CA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,508 | 2.75% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $1,379 | 2.88% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $763 | 2.38% |
| Seneca, SC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $549 | 2.75% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $547 | 2.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,550 | 2.63% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $1,555 | 2.75% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $1,586 | 2.75% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,227 | 2.50% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,634 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $1,887 | 2.69% |
| NILES, MI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $841 | 2.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 3.13% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,244 | 3.06% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $267 | 2.63% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,213 | 2.75% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,076 | 2.25% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $403 | 3.38% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,033 | 3.25% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $501 | 2.88% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,082 | 2.99% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,401 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,035 | 3.00% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $517 | 3.13% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,191 | 2.25% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,801 | 2.13% |
| Dayton, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 2.25% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,040 | 2.75% |
| Torrington, CT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $291 | 2.63% |
| RACINE, WI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 2.75% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,862 | 2.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,690 | 2.75% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,029 | 2.88% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,789 | 2.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,739 | 2.99% |
| REDDING, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 2.88% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $25 | 3.25% |
| MERCED, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,852 | 2.75% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,001 | 2.50% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,320 | 2.88% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,026 | 2.88% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,232 | 3.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,050 | 2.88% |
| Scottsbluff, NE (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,200 | 2.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,707 | 2.88% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,449 | 2.75% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,825 | 2.38% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $834 | 3.13% |
| Shelton, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,002 | 2.75% |
| DALTON, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,480 | 2.75% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $67 | 2.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,560 | 2.88% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,815 | 3.38% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,924 | 3.75% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,663 | 3.13% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,954 | 3.13% |
Loansnap 's top markets include Los Angeles, San Francisco, Denver, Phoenix, and Riverside among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,269 | $498,855,000 | $393,109 | $1,721 | 2.79% |
For the 2021 period, Loansnap 's most frequently originated loan type of loans were Conventional, with 1,269 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 1,256 | $494,120,000 | $393,408 | $1,721 | 2.79% |
| Home Purchase | 8 | $3,240,000 | $405,000 | $1,954 | 2.73% |
| Home Improvement | 5 | $1,495,000 | $299,000 | $1,411 | 2.70% |
For the 2021, Loansnap 's most frequently cited loan purpose of loans were Refi, with 1,256 originations. The 2nd most popular reason of loans were Home Purchase, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,053 | $419,765,000 | $398,637 | $1,696 | 2.86% |
| 15 Year | 126 | $45,710,000 | $362,778 | $1,802 | 2.26% |
| 20 Year | 64 | $23,190,000 | $362,344 | $1,895 | 2.68% |
| Other | 26 | $10,190,000 | $391,923 | $1,900 | 2.80% |
For the 2021, Loansnap 's most frequently cited loan length of loans were 30 Year, with 1,053 originations. The 2nd most popular length of loans were 15 Year, with 126 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,008 | $405,450,000 | $402,232 |
| $1k-2k | 132 | $44,180,000 | $334,697 |
| $2k-3k | 67 | $25,835,000 | $385,597 |
| $3k-4k | 36 | $13,400,000 | $372,222 |
| $5k+ | 23 | $9,005,000 | $391,522 |
$1,696 of loans were Loansnap 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,008 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 869 | $347,585,000 | $399,983 |
| <2.5% | 199 | $77,915,000 | $391,533 |
| 3-4% | 199 | $72,935,000 | $366,508 |
| 4-5% | 2 | $420,000 | $210,000 |
During 2021, Loansnap 's average interest rate of loans were 2.86%, while their most frequently originated rate bucket of loans were 2.5-3%, with 869 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 710 | $222,150,000 | $312,887 | $1,934 | 2.81% |
| $400k-600k | 467 | $223,025,000 | $477,570 | $1,373 | 2.73% |
| $600k-1MM | 70 | $49,350,000 | $705,000 | $1,748 | 2.92% |
| $100k-200k | 19 | $3,195,000 | $168,158 | $2,297 | 2.99% |
| $100,000 or less | 2 | $130,000 | $65,000 | $1,772 | 2.56% |
| $1MM+ | 1 | $1,005,000 | $1,005,000 | $1,273 | 3.38% |
2021 saw Loansnap place emphasis on $200k-400k loans with 710 originations, totaling $222,150,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 413 | $165,425,000 | $400,545 | $1,741 | 2.77% |
| $150k-250k | 339 | $152,075,000 | $448,599 | $1,614 | 2.73% |
| $75k-100k | 260 | $89,050,000 | $342,500 | $1,788 | 2.83% |
| $50k-75k | 162 | $49,380,000 | $304,815 | $1,916 | 2.88% |
| $250k+ | 79 | $39,145,000 | $495,506 | $1,439 | 2.77% |
| $50k or less | 16 | $3,780,000 | $236,250 | $1,811 | 2.98% |
Loansnap lent most frequently to those with incomes in the $100k-150k range, with 413 originations. The second most popular income band? $150k-250k, with 339 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 372 | $147,760,000 | $397,204 | $1,718 | 2.77% |
| 30-36% | 260 | $99,840,000 | $384,000 | $1,722 | 2.80% |
| <20% | 139 | $52,715,000 | $379,245 | $1,616 | 2.72% |
| 44% | 61 | $25,345,000 | $415,492 | $1,678 | 2.79% |
| 37% | 57 | $20,175,000 | $353,947 | $1,995 | 2.80% |
| 36% | 52 | $20,120,000 | $386,923 | $1,721 | 2.83% |
| 39% | 47 | $20,075,000 | $427,128 | $1,446 | 2.81% |
| 40% | 44 | $17,170,000 | $390,227 | $2,216 | 2.89% |
| 38% | 43 | $18,665,000 | $434,070 | $1,495 | 2.80% |
| 42% | 40 | $15,460,000 | $386,500 | $2,014 | 2.88% |
| 43% | 36 | $14,620,000 | $406,111 | $1,865 | 2.75% |
| 41% | 35 | $14,175,000 | $405,000 | $1,978 | 2.83% |
| 48% | 18 | $6,450,000 | $358,333 | $1,533 | 2.94% |
| 45% | 18 | $7,200,000 | $400,000 | $1,311 | 2.81% |
| 46% | 17 | $7,095,000 | $417,353 | $1,460 | 2.84% |
| 47% | 15 | $6,365,000 | $424,333 | $1,628 | 2.72% |
| 49% | 12 | $4,490,000 | $374,167 | $1,183 | 2.91% |
| 50-60% | 3 | $1,135,000 | $378,333 | $2,168 | 2.37% |
Loansnap lent most frequently to those with DTI ratios of 20-30%, with 372 originations. The next most common DTI ratio? 30-36%, with 260 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 801 | $307,455,000 | $383,839 | $1,720 | 2.80% |
| Not provided | 285 | $114,645,000 | $402,263 | $1,861 | 2.78% |
| Asian | 130 | $57,320,000 | $440,923 | $1,336 | 2.72% |
| Black | 35 | $12,925,000 | $369,286 | $1,818 | 2.90% |
| Native Hawaiian | 9 | $3,675,000 | $408,333 | $2,192 | 2.71% |
| American Indian | 9 | $2,835,000 | $315,000 | $2,091 | 2.99% |
Approval Rates
Total approvals of all applications90.41%
Loansnap has an average approval rate.
Pick Rate
Approvals leading to origination-20.06%
Loansnap 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 | 1,269 | $498,855,000 | $393,109 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,269 | $498,855,000 | $393,109 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 72 | $25,920,000 | $360,000 | $1,528 | 2.65% |
| 40-60% | 410 | $159,920,000 | $390,049 | $1,577 | 2.72% |
| 60-80% | 738 | $295,050,000 | $399,797 | $1,823 | 2.84% |
| 80-100% | 42 | $16,130,000 | $384,048 | $1,620 | 2.88% |
| Under 20% | 7 | $1,835,000 | $262,143 | $2,129 | 2.42% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LoanSnap, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 50.0% |
| LoanSnap, Inc. | Conventional home mortgage | Closing on a mortgage | 2 | 50.0% |
