Loansnap Mortgage Rates, Fees & Info

Sacramento, CA

LEI: 5493007LCGK7U7USNX41

Tax ID: 33-0834150

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • 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

    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, San Francisco, Riverside, Sacramento, and San Diego among others. We have data for 44 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Loansnap 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. Loansnap is typically a low 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

    380

    Origination Dollar Volume (All Markets)

    $131,770,000
    Show all (7) awards

    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) 99 $37,405,000 $377,828 $3,678 4.49%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 47 $17,805,000 $378,830 $3,811 4.71%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 48 $14,940,000 $311,250 $4,697 4.19%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 34 $11,250,000 $330,882 $4,232 4.24%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 25 $8,815,000 $352,600 $3,947 4.32%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 14 $5,280,000 $377,143 $5,553 4.37%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 8 $4,650,000 $581,250 $4,115 4.30%
    STOCKTON, CA (FHA|USDA|VA) 8 $2,850,000 $356,250 $5,790 3.81%
    VALLEJO, CA (FHA|USDA|VA) 8 $2,550,000 $318,750 $2,583 4.09%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 6 $2,410,000 $401,667 $2,651 4.04%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 5 $2,015,000 $403,000 $8,338 4.33%
    MODESTO, CA (FHA|USDA|VA) 7 $1,905,000 $272,143 $4,097 4.16%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 4 $1,700,000 $425,000 $5,985 3.59%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $1,660,000 $207,500 $4,319 4.20%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 3 $1,435,000 $478,333 $1,949 3.75%
    Outside of Metro Areas 5 $1,285,000 $257,000 $2,813 4.03%
    FRESNO, CA (FHA|USDA|VA) 3 $1,255,000 $418,333 $9,179 4.25%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $965,000 $321,667 $4,493 3.75%
    EL CENTRO, CA (FHA|USDA|VA) 4 $920,000 $230,000 $5,181 4.56%
    CHICO, CA (FHA|USDA|VA) 4 $780,000 $195,000 $3,214 4.47%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $720,000 $360,000 $7,777 3.06%
    YUBA CITY, CA (FHA|USDA|VA) 3 $705,000 $235,000 $1,869 4.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $675,000 $225,000 $5,360 3.83%
    MADERA, CA (FHA|USDA|VA) 2 $650,000 $325,000 $2,990 4.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $620,000 $310,000 $4,955 3.56%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $585,000 $195,000 $7,460 3.38%
    GREELEY, CO (FHA|USDA|VA) 2 $560,000 $280,000 $3,718 4.06%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $510,000 $255,000 $3,753 3.50%
    NAPA, CA (FHA|USDA|VA) 1 $495,000 $495,000 $10,297 4.63%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,784 3.13%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,968 3.50%
    Ukiah, CA (FHA|USDA|VA) 1 $385,000 $385,000 $2,838 4.12%
    VISALIA, CA (FHA|USDA|VA) 2 $380,000 $190,000 $6,025 4.19%
    MERCED, CA (FHA|USDA|VA) 2 $360,000 $180,000 $1,886 5.13%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $355,000 $355,000 $5,420 3.25%
    SALINAS, CA (FHA|USDA|VA) 1 $335,000 $335,000 $1,617 3.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,734 4.12%
    Crescent City, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,833 4.38%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $215,000 $215,000 $6,354 3.88%
    Key West, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,289 4.12%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $5,765 3.75%
    REDDING, CA (FHA|USDA|VA) 1 $195,000 $195,000 $5,179 4.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $4,395 3.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,869 3.88%
    Loansnap's top markets include Los Angeles, San Francisco, Riverside, Sacramento, and San Diego among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • 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.

    N C P D Federal Credit Union
    Similarity Rank: 56
    US COMMUNITY
    Similarity Rank: 64
    Schuyler Savings Bank
    Similarity Rank: 104
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    MYPOINT Credit Union
    Similarity Rank: 147
    Union County Savings Bank
    Similarity Rank: 150
    Prudential Bank
    Similarity Rank: 162
    POWER FINANCIAL
    Similarity Rank: 188
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 275 $101,185,000 $367,945 $3,459 4.03%
    FHA 47 $15,445,000 $328,617 $8,486 3.90%
    HELOC 37 $4,495,000 $121,486 n/a 7.25%
    VA 21 $10,645,000 $506,905 $5,076 3.68%

    For 2019, Loansnap's most frequently originated type of loan was Conventional, with 275 originations. Their 2nd most popular type was FHA, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 219 $78,995,000 $360,708 $3,922 4.20%
    Home Improvement 158 $51,970,000 $328,924 $4,747 4.43%
    Home Purchase 2 $680,000 $340,000 $3,457 4.18%
    Cash Out Refi 1 $125,000 $125,000 $0 9.63%

    For 2019, Loansnap's most frequently cited loan purpose was Refi, with 219 originations. The 2nd most popular reason was Home Improvement, with 158 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 370 $129,180,000 $349,135 $4,205 4.28%
    20 Year 10 $2,590,000 $259,000 $6,613 5.44%

    For 2019, Loansnap's most frequently cited loan duration was 30 Year, with 370 originations. The 2nd most popular length was 20 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 151 $57,665,000 $381,887
    $1k-2k 72 $23,110,000 $320,972
    $2k-3k 56 $19,660,000 $351,071
    $3k-4k 27 $9,875,000 $365,741
    $5k+ 21 $10,515,000 $500,714
    $4k-5k 14 $5,390,000 $385,000

    Loansnap's average total fees were $4,205, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 151 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 212 $82,430,000 $388,821
    4-5% 111 $36,355,000 $327,523
    5-6% 27 $6,555,000 $242,778
    Over 8% 12 $1,270,000 $105,833
    2.5-3% 7 $2,985,000 $426,429
    6-7% 7 $1,785,000 $255,000
    7-8% 4 $390,000 $97,500

    During 2019, Loansnap's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 3-4%, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 174 $52,180,000 $299,885 $4,103 4.01%
    $400k-600k 124 $57,170,000 $461,048 $3,981 3.85%
    $100k-200k 47 $7,165,000 $152,447 $3,868 5.59%
    $600k-1MM 17 $11,155,000 $656,176 $8,017 4.14%
    $100,000 or less 16 $1,320,000 $82,500 $3,633 7.46%
    $1MM+ 2 $2,780,000 $1,390,000 $7,450 5.13%

    2019 saw Loansnap place emphasis on $200k-400k loans with 174 originations, totaling $52,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 127 $47,475,000 $373,819 $4,433 4.15%
    $150k-250k 87 $33,255,000 $382,241 $4,321 4.57%
    $75k-100k 74 $24,130,000 $326,081 $4,460 4.32%
    $50k-75k 60 $15,750,000 $262,500 $3,769 4.19%
    $50k or less 16 $3,450,000 $215,625 $4,226 4.27%
    $250k+ 15 $7,515,000 $501,000 $3,644 4.58%

    Loansnap lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $150k-250k, with 87 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 70 $22,770,000 $325,286 $3,326 4.36%
    20-30% 55 $19,705,000 $358,273 $3,494 3.92%
    50-60% 28 $9,860,000 $352,143 $7,792 4.67%
    49% 27 $9,585,000 $355,000 $5,364 4.98%
    39% 23 $7,755,000 $337,174 $3,715 4.27%
    40% 20 $7,670,000 $383,500 $4,028 3.86%
    42% 19 $6,305,000 $331,842 $5,447 4.18%
    43% 19 $6,005,000 $316,053 $3,766 4.33%
    44% 17 $5,835,000 $343,235 $3,188 4.46%
    48% 16 $5,680,000 $355,000 $5,209 4.91%
    47% 14 $5,530,000 $395,000 $4,241 3.79%
    37% 13 $4,245,000 $326,538 $3,302 4.42%
    41% 13 $3,815,000 $293,462 $4,717 4.42%
    36% 11 $4,475,000 $406,818 $3,769 4.09%
    46% 10 $4,290,000 $429,000 $4,138 4.02%
    45% 8 $2,830,000 $353,750 $3,949 4.42%
    38% 8 $2,240,000 $280,000 $5,453 4.41%
    <20% 6 $1,790,000 $298,333 $2,259 3.62%
    >60% 1 $535,000 $535,000 $1,564 4.88%

    Loansnap lent most frequently to those with DTI ratios of 30-36%, with 70 originations. The next most common DTI ratio? 20-30%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 380 $131,770,000 $346,763 $4,254 4.31%

    Approval Rates

    Total approvals of all applications
    92.90%

    Loansnap has an average approval rate.

    Pick Rate

    Approvals leading to origination
    -107.89%

    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 380 $131,770,000 $346,763

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $345,000 $345,000
    Single Family (1-4 Units):Site-Built 379 $131,425,000 $346,768

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $7,760,000 $258,667 $3,078 4.37%
    40-60% 71 $24,855,000 $350,070 $2,952 3.94%
    60-80% 172 $67,700,000 $393,605 $4,089 4.04%
    80-100% 71 $26,735,000 $376,549 $6,452 3.93%
    Under 20% 35 $4,525,000 $129,286 $3,047 7.10%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    LOAN SIMPLE INC. Conventional home mortgage Trouble during payment process 1 50.0%
    LOAN SIMPLE INC. FHA mortgage Closing on a mortgage 1 50.0%