Loansnap Mortgage Rates, Fees & Info

Sacramento, CA

LEI: 5493007LCGK7U7USNX41

Tax ID: 33-0834150

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

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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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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Originations

895

Origination Dollar Volume (All Markets)

$323,275,000
Show all (21) 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) 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%
Loansnap's top markets include Los Angeles, San Francisco, Denver, Atlanta, and Riverside among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (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.

    North Jersey Federal Credit Union
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    METROPLEX MORTGAGE SERVICES, INC.
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    TRISTAR FINANCE, INC.
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    MANHATTAN FINANCIAL GROUP, INC.
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    The District Federal Credit Union
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    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 820 $296,800,000 $361,951 $2,663 2.93%
    Home Improvement 71 $24,825,000 $349,648 $3,680 3.40%
    Home Purchase 4 $1,650,000 $412,500 $5,279 3.09%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 673 $246,455,000 $366,204 $2,784 3.05%
    15 Year 151 $52,245,000 $345,993 $2,655 2.60%
    20 Year 52 $18,190,000 $349,808 $2,751 2.96%
    Other 17 $5,895,000 $346,765 $2,543 3.10%
    10 Year 2 $490,000 $245,000 $3,004 2.63%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 507 $190,725,000 $376,183
    $1k-2k 205 $67,615,000 $329,829
    $2k-3k 92 $31,280,000 $340,000
    $5k+ 38 $14,730,000 $387,632
    $3k-4k 30 $10,420,000 $347,333
    $4k-5k 23 $8,505,000 $369,783

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 577 $182,745,000 $316,716 $2,806 2.97%
    $400k-600k 292 $131,000,000 $448,630 $2,677 2.95%
    $100k-200k 15 $2,525,000 $168,333 $3,039 3.12%
    $600k-1MM 11 $7,005,000 $636,818 $1,888 3.39%

    2020 saw Loansnap place emphasis on $200k-400k loans with 577 originations, totaling $182,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 315 $115,705,000 $367,317 $2,817 2.96%
    $150k-250k 268 $103,810,000 $387,351 $2,746 2.94%
    $75k-100k 146 $47,740,000 $326,986 $2,624 3.04%
    $50k-75k 87 $25,475,000 $292,816 $2,737 3.03%
    $250k+ 64 $26,460,000 $413,438 $2,561 2.89%
    $50k or less 13 $3,265,000 $251,154 $4,389 3.03%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 272 $98,190,000 $360,993 $2,472 2.91%
    30-36% 177 $62,785,000 $354,718 $2,818 2.97%
    <20% 94 $33,860,000 $360,213 $2,525 2.85%
    39% 34 $11,810,000 $347,353 $2,840 2.99%
    43% 32 $11,720,000 $366,250 $2,902 3.07%
    38% 32 $12,380,000 $386,875 $2,300 3.02%
    44% 31 $11,495,000 $370,806 $3,004 3.13%
    36% 30 $11,960,000 $398,667 $3,384 2.92%
    41% 29 $10,525,000 $362,931 $2,517 3.09%
    40% 28 $9,440,000 $337,143 $2,897 3.11%
    37% 27 $10,175,000 $376,852 $2,984 3.19%
    46% 23 $8,595,000 $373,696 $3,156 3.01%
    45% 22 $7,730,000 $351,364 $3,743 2.95%
    42% 20 $6,810,000 $340,500 $2,945 2.97%
    47% 14 $5,280,000 $377,143 $2,461 3.19%
    48% 14 $5,120,000 $365,714 $3,025 2.94%
    49% 12 $4,000,000 $333,333 $3,697 3.12%
    50-60% 3 $895,000 $298,333 $10,196 3.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 623 $223,985,000 $359,526 $2,888 3.01%
    Not provided 139 $51,435,000 $370,036 $2,603 2.84%
    Asian 112 $41,290,000 $368,661 $2,286 2.88%
    Black 15 $4,295,000 $286,333 $2,576 2.97%
    American Indian 4 $1,450,000 $362,500 $1,695 2.94%
    Native Hawaiian or Islander 2 $820,000 $410,000 $2,163 3.31%

    Approval Rates

    Total approvals of all applications
    92.96%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $18,260,000 $326,071 $2,877 3.08%
    40-60% 257 $92,255,000 $358,969 $2,576 2.92%
    60-80% 534 $195,400,000 $365,918 $2,749 2.97%
    80-100% 47 $16,945,000 $360,532 $3,688 3.07%
    Under 20% 1 $415,000 $415,000 $3,258 3.13%

    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%