Loansnap Mortgage Rates, Fees & Info
Sacramento, CALEI: 5493007LCGK7U7USNX41
Tax ID: 33-0834150
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Mortgage Data
Review & Overview
Loansnap is a smaller mortgage company specializing in Refi loans. Loansnap has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, San Francisco, Denver, Atlanta, and Riverside among others. We have data for 79 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.
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Originations
895Origination Dollar Volume (All Markets)
$323,275,000LOANSNAP - 2020
LOANSNAP 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 |
---|---|---|---|---|---|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 158 | $61,500,000 | $389,241 | $2,630 | 3.00% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 84 | $32,070,000 | $381,786 | $2,541 | 2.94% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 76 | $26,600,000 | $350,000 | $2,701 | 2.86% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 65 | $22,435,000 | $345,154 | $2,338 | 2.84% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 63 | $21,715,000 | $344,683 | $2,772 | 3.09% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 52 | $20,160,000 | $387,692 | $2,630 | 2.99% |
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 54 | $19,580,000 | $362,593 | $2,684 | 2.98% |
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 26 | $9,730,000 | $374,231 | $1,966 | 2.98% |
STOCKTON, CA (FHA|USDA|VA) | 21 | $6,865,000 | $326,905 | $2,473 | 2.84% |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 16 | $6,520,000 | $407,500 | $2,253 | 2.99% |
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 17 | $6,005,000 | $353,235 | $1,726 | 2.80% |
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 16 | $5,560,000 | $347,500 | $2,138 | 2.69% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $4,955,000 | $330,333 | $3,827 | 2.86% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 13 | $4,335,000 | $333,462 | $3,952 | 3.25% |
BOULDER, CO (FHA|USDA|VA) | 9 | $4,105,000 | $456,111 | $4,047 | 2.96% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 12 | $3,780,000 | $315,000 | $4,587 | 2.97% |
COLORADO SPRINGS, CO (FHA|USDA|VA) | 12 | $3,770,000 | $314,167 | $2,091 | 3.04% |
FRESNO, CA (FHA|USDA|VA) | 11 | $3,435,000 | $312,273 | $2,037 | 2.99% |
Outside of Metro Areas | 11 | $3,405,000 | $309,545 | $2,503 | 3.06% |
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 8 | $3,170,000 | $396,250 | $2,614 | 3.02% |
GREELEY, CO (FHA|USDA|VA) | 9 | $3,005,000 | $333,889 | $3,216 | 2.96% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 10 | $2,940,000 | $294,000 | $3,944 | 3.06% |
SALINAS, CA (FHA|USDA|VA) | 7 | $2,435,000 | $347,857 | $3,484 | 3.00% |
MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 7 | $2,365,000 | $337,857 | $2,383 | 2.75% |
JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $2,250,000 | $375,000 | $4,491 | 3.10% |
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 5 | $2,185,000 | $437,000 | $3,792 | 3.27% |
NAPA, CA (FHA|USDA|VA) | 5 | $2,185,000 | $437,000 | $4,786 | 3.40% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $2,185,000 | $312,143 | $4,432 | 3.07% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $1,975,000 | $395,000 | $3,647 | 3.10% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,965,000 | $393,000 | $4,209 | 3.00% |
MODESTO, CA (FHA|USDA|VA) | 6 | $1,850,000 | $308,333 | $2,438 | 2.87% |
VALLEJO, CA (FHA|USDA|VA) | 5 | $1,675,000 | $335,000 | $1,614 | 3.22% |
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $2,424 | 3.13% |
FORT COLLINS, CO (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $2,866 | 2.97% |
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $2,885 | 2.87% |
Glenwood Springs, CO (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $4,797 | 3.25% |
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $3,197 | 3.00% |
Edwards, CO (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $5,881 | 3.06% |
GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $3,617 | 2.96% |
YUBA CITY, CA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $3,652 | 3.42% |
KNOXVILLE, TN (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $2,472 | 2.75% |
BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $2,900 | 3.00% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $5,150 | 3.25% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,162 | 3.25% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $5,068 | 3.83% |
GAINESVILLE, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $2,987 | 3.19% |
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $2,620 | 2.69% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $7,907 | 3.75% |
Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $1,756 | 2.94% |
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $1,353 | 2.88% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,430 | 3.56% |
BELLINGHAM, WA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $1,470 | 2.81% |
OCALA, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,321 | 3.25% |
CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,540 | 2.88% |
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $955 | 2.63% |
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $846 | 2.88% |
WENATCHEE, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,586 | 2.50% |
Ukiah, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,003 | 2.63% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,007 | 2.38% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,502 | 2.38% |
EL PASO, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,279 | 2.88% |
REDDING, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,448 | 3.25% |
Durango, CO (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,243 | 2.88% |
COLUMBUS, OH (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,065 | 2.88% |
HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,353 | 2.88% |
Sonora, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,164 | 3.13% |
Clearlake, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,393 | 3.12% |
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,003 | 2.25% |
PUEBLO, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,559 | 3.00% |
CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $845 | 2.75% |
LONGVIEW, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,292 | 2.63% |
SAVANNAH, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,866 | 2.50% |
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,521 | 3.50% |
PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,140 | 3.25% |
CHICO, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,342 | 2.88% |
MERCED, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,193 | 3.13% |
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,226 | 2.88% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,849 | 3.38% |
CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,420 | 2.88% |
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: 134
Similarity Rank: 247
Similarity Rank: 304
Similarity Rank: 330
Similarity Rank: 345
Similarity Rank: 372
Similarity Rank: 378
Similarity Rank: 384
Similarity Rank: 434
Similarity Rank: 441
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 882 | $318,420,000 | $361,020 | $2,707 | 2.97% |
VA | 12 | $4,600,000 | $383,333 | $5,955 | 2.75% |
FHA | 1 | $255,000 | $255,000 | $7,675 | 4.50% |
For 2020, Loansnap's most frequently originated type of loan was Conventional, with 882 originations. Their 2nd most popular type was VA, with 12 originations.
Loan Reason
For 2020, Loansnap's most frequently cited loan purpose was Refi, with 820 originations. The 2nd most popular reason was Home Improvement, with 71 originations.
Loan Duration/Length
For 2020, Loansnap's most frequently cited loan duration was 30 Year, with 673 originations. The 2nd most popular length was 15 Year, with 151 originations.
Origination Fees/Closing Costs
Loansnap's average total fees were $2,784, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 507 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 475 | $172,405,000 | $362,958 |
3-4% | 302 | $108,480,000 | $359,205 |
<2.5% | 110 | $39,800,000 | $361,818 |
4-5% | 8 | $2,590,000 | $323,750 |
During 2020, Loansnap's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 475 originations.
Loan Sizing
2020 saw Loansnap place emphasis on $200k-400k loans with 577 originations, totaling $182,745,000 in origination value.
Applicant Income
Loansnap lent most frequently to those with incomes in the $100k-150k range, with 315 originations. The second most popular income band? $150k-250k, with 268 originations.
Applicant Debt to Income Ratio
Loansnap lent most frequently to those with DTI ratios of 20-30%, with 272 originations. The next most common DTI ratio? 30-36%, with 177 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.96%
Loansnap has an average approval rate.
Pick Rate
Approvals leading to origination-59.22%
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 | 895 | $323,275,000 | $361,201 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 895 | $323,275,000 | $361,201 |
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% |