Loansnap Mortgage Rates, Fees & Info
Sacramento, CALEI: 5493007LCGK7U7USNX41
Tax ID: 33-0834150
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Loansnap is a smaller mortgage company specializing in Refi and Home Improvement loans. Loansnap has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, Sacramento, and San Diego among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)Loansnap has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Loansnap 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.
Originations
552Origination Dollar Volume (All Markets)
$166,200,000Awards
LOANSNAP - 2018
LOANSNAP is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
Work for LOANSNAP?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 158 | $51,300,000 | $324,684 | $6,646 | 5.03% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 96 | $24,890,000 | $259,271 | $5,523 | 5.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 73 | $24,015,000 | $328,973 | $5,961 | 4.85% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 65 | $16,165,000 | $248,692 | $6,439 | 4.88% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 40 | $14,430,000 | $360,750 | $8,204 | 4.98% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 22 | $9,110,000 | $414,091 | $7,743 | 5.49% |
| STOCKTON, CA (FHA|USDA|VA) | 11 | $2,755,000 | $250,455 | $5,121 | 4.59% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 8 | $2,620,000 | $327,500 | $5,252 | 5.16% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $9,282 | 5.05% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 5 | $2,015,000 | $403,000 | $5,674 | 4.90% |
| VALLEJO, CA (FHA|USDA|VA) | 6 | $1,920,000 | $320,000 | $5,978 | 4.65% |
| FRESNO, CA (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $4,281 | 5.16% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 3 | $1,615,000 | $538,333 | $6,302 | 5.46% |
| SALINAS, CA (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $6,430 | 5.19% |
| YUBA CITY, CA (FHA|USDA|VA) | 6 | $1,110,000 | $185,000 | $5,714 | 4.46% |
| REDDING, CA (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $5,219 | 4.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $3,255 | 4.88% |
| Sonora, CA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $4,682 | 5.25% |
| CHICO, CA (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $2,474 | 4.97% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $3,706 | 5.17% |
| MODESTO, CA (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $5,897 | 5.13% |
| NAPA, CA (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $3,016 | 3.81% |
| EL CENTRO, CA (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $5,467 | 4.58% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $8,129 | 5.00% |
| Outside of Metro Areas | 2 | $510,000 | $255,000 | $4,085 | 4.94% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $5,962 | 4.63% |
| Clearlake, CA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,681 | 4.69% |
| MERCED, CA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,230 | 4.19% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.63% |
| MADERA, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,392 | 4.38% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against LOANSNAP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 20
Similarity Rank: 33
Similarity Rank: 55
Similarity Rank: 55
Similarity Rank: 60
Similarity Rank: 63
Similarity Rank: 63
Similarity Rank: 66
Similarity Rank: 80
Similarity Rank: 116
Product Mix
For 2018, Loansnap's most frequently originated type of loan was Conventional, with 316 originations. Their 2nd most popular type was HELOC, with 116 originations.
Loan Reason
For 2018, Loansnap's most frequently cited loan purpose was Refi, with 305 originations. The 2nd most popular reason was Home Improvement, with 221 originations.
Loan Duration/Length
For 2018, Loansnap's most frequently cited loan duration was 30 Year, with 490 originations. The 2nd most popular length was 15 Year, with 32 originations.
Origination Fees/Closing Costs
Loansnap's average total fees were $6,353, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 173 originations.
Interest Rates
During 2018, Loansnap's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 4-5%, with 272 originations.
Loan Sizing
2018 saw Loansnap place emphasis on $200k-400k loans with 202 originations, totaling $59,920,000 in origination value.
Applicant Income
Loansnap lent most frequently to those with incomes in the $100k-150k range, with 172 originations. The second most popular income band? $150k-250k, with 114 originations.
Applicant Debt to Income Ratio
Loansnap lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 42%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.95%
Loansnap has a below average approval rate.
Pick Rate
Approvals leading to origination-78.26%
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 |
|---|---|---|---|
| 1820.66 | 1 | $45,000 | $45,000 |
| 2035.0 | 1 | $55,000 | $55,000 |
| 2202.0 | 1 | $65,000 | $65,000 |
| 2215.0 | 1 | $65,000 | $65,000 |
| 2275.0 | 1 | $65,000 | $65,000 |
| 2295.0 | 1 | $65,000 | $65,000 |
| 2366.05 | 1 | $65,000 | $65,000 |
| 2415.0 | 1 | $75,000 | $75,000 |
| 2485.0 | 1 | $75,000 | $75,000 |
| 2495.0 | 9 | $675,000 | $75,000 |
| 2542.7 | 1 | $55,000 | $55,000 |
| 2575.0 | 2 | $150,000 | $75,000 |
| 2590.0 | 1 | $55,000 | $55,000 |
| 2614.64 | 1 | $55,000 | $55,000 |
| 2620.0 | 1 | $75,000 | $75,000 |
| 2635.0 | 1 | $85,000 | $85,000 |
| 2639.75 | 1 | $55,000 | $55,000 |
| 2648.4 | 1 | $85,000 | $85,000 |
| 2695.0 | 1 | $85,000 | $85,000 |
| 2728.54 | 1 | $65,000 | $65,000 |
| 2859.0 | 1 | $95,000 | $95,000 |
| 2875.0 | 1 | $95,000 | $95,000 |
| 2929.0 | 1 | $95,000 | $95,000 |
| 2937.19 | 1 | $75,000 | $75,000 |
| 2945.0 | 1 | $65,000 | $65,000 |
| 2978.64 | 1 | $75,000 | $75,000 |
| 2980.8 | 1 | $95,000 | $95,000 |
| 2989.0 | 1 | $75,000 | $75,000 |
| 2990.39 | 1 | $75,000 | $75,000 |
| 2995.0 | 3 | $315,000 | $105,000 |
| 3095.0 | 2 | $190,000 | $95,000 |
| 3143.64 | 1 | $75,000 | $75,000 |
| 3155.0 | 1 | $105,000 | $105,000 |
| 3155.15 | 1 | $75,000 | $75,000 |
| 3175.0 | 1 | $105,000 | $105,000 |
| 3177.89 | 1 | $85,000 | $85,000 |
| 3219.0 | 1 | $115,000 | $115,000 |
| 3245.0 | 2 | $150,000 | $75,000 |
| 3258.64 | 1 | $85,000 | $85,000 |
| 3310.39 | 1 | $95,000 | $95,000 |
| 3468.64 | 1 | $95,000 | $95,000 |
| 3477.79 | 1 | $105,000 | $105,000 |
| 3489.0 | 2 | $210,000 | $105,000 |
| 3493.29 | 2 | $210,000 | $105,000 |
| 3495.0 | 3 | $375,000 | $125,000 |
| 3545.0 | 1 | $85,000 | $85,000 |
| 3555.0 | 1 | $125,000 | $125,000 |
| 3614.3 | 1 | $105,000 | $105,000 |
| 3675.0 | 1 | $135,000 | $135,000 |
| 3740.05 | 1 | $75,000 | $75,000 |
| 3963.64 | 1 | $115,000 | $115,000 |
| 3995.0 | 2 | $310,000 | $155,000 |
| 4038.24 | 1 | $105,000 | $105,000 |
| 4131.0 | 1 | $155,000 | $155,000 |
| 4140.0 | 1 | $155,000 | $155,000 |
| 4278.64 | 1 | $125,000 | $125,000 |
| 4295.0 | 1 | $165,000 | $165,000 |
| 4322.64 | 1 | $75,000 | $75,000 |
| 4395.0 | 1 | $175,000 | $175,000 |
| 4513.29 | 1 | $155,000 | $155,000 |
| 4545.0 | 1 | $75,000 | $75,000 |
| 4566.14 | 1 | $95,000 | $95,000 |
| 4744.19 | 1 | $155,000 | $155,000 |
| 4759.0 | 1 | $155,000 | $155,000 |
| 4763.19 | 1 | $105,000 | $105,000 |
| 4789.0 | 1 | $165,000 | $165,000 |
| 5243.29 | 1 | $125,000 | $125,000 |
| 5285.0 | 1 | $145,000 | $145,000 |
| 5320.0 | 1 | $105,000 | $105,000 |
| 5384.0 | 1 | $115,000 | $115,000 |
| 5525.0 | 1 | $155,000 | $155,000 |
| 5532.26 | 1 | $155,000 | $155,000 |
| 5635.0 | 1 | $115,000 | $115,000 |
| 5682.41 | 1 | $115,000 | $115,000 |
| 5795.0 | 1 | $165,000 | $165,000 |
| 5855.0 | 1 | $165,000 | $165,000 |
| 5906.25 | 1 | $125,000 | $125,000 |
| 5915.0 | 1 | $125,000 | $125,000 |
| 5950.79 | 1 | $125,000 | $125,000 |
| 5989.0 | 1 | $225,000 | $225,000 |
| 5995.0 | 1 | $125,000 | $125,000 |
| 6071.39 | 1 | $125,000 | $125,000 |
| 6175.05 | 1 | $155,000 | $155,000 |
| 6275.0 | 1 | $135,000 | $135,000 |
| 6346.35 | 1 | $125,000 | $125,000 |
| 6440.15 | 1 | $235,000 | $235,000 |
| 6493.19 | 1 | $255,000 | $255,000 |
| 7043.19 | 1 | $185,000 | $185,000 |
| NA | 446 | $154,940,000 | $347,399 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 552 | $166,200,000 | $301,087 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LOAN SIMPLE INC. | FHA mortgage | Closing on a mortgage | 1 | 50.0% |
| LOAN SIMPLE INC. | FHA mortgage | Trouble during payment process | 1 | 50.0% |