Inspire Home Loans Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 5493007VW2EU20PZYU97
Tax ID: 81-4312733
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Mortgage Data
Review & Overview
Inspire Home Loans is a small mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Inspire Home Loans has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Denver, Phoenix, Las Vegas, and Houston among others. We have data for 104 markets. (Some data included below & more in-depth data is available with an active subscription.)Inspire Home Loans 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. Inspire Home Loans is typically a high 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 relatively high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 4/18/24 |
| 30 Year Conventional Refi | 6.66% | 4/18/24 |
| 30 Year Cash-out Refi | 6.64% | 4/18/24 |
| 30 Year FHA Purchase | 7.07% | 4/18/24 |
| 30 Year FHA Refi | 6.57% | 4/18/24 |
| 30 Year VA Purchase | 5.98% | 4/18/24 |
| 30 Year USDA Purchase | 6.83% | 4/18/24 |
| 15 Year Conventional Purchase | 6.12% | 4/18/24 |
| 15 Year Conventional Refi | 5.53% | 4/18/24 |
| 15 Year Cash-out Refi | 5.53% | 4/18/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Inspire Home Loans Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Inspire Home Loans. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5,431Origination Dollar Volume (All Markets)
$1,904,675,000Awards
INSPIRE HOME LOANS - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
Inspire Home Loans's average 30 year fixed mortgage rate was
5.89%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.59%.
Relative Fees (Closing Costs)
Inspire Home Loans's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,707.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 491 | $184,795,000 | $376,365 | $8,964 | 6.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 345 | $179,395,000 | $519,986 | $7,478 | 5.71% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 519 | $168,155,000 | $323,998 | $10,109 | 5.71% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 352 | $156,550,000 | $444,744 | $8,940 | 5.81% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 380 | $99,770,000 | $262,553 | $8,219 | 5.64% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 242 | $78,930,000 | $326,157 | $8,469 | 6.22% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 272 | $76,360,000 | $280,735 | $8,743 | 5.46% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 126 | $68,330,000 | $542,302 | $10,376 | 6.08% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 151 | $61,005,000 | $404,007 | $8,922 | 5.99% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 182 | $56,960,000 | $312,967 | $9,733 | 5.59% |
| FRESNO, CA (FHA|USDA|VA) | 131 | $55,465,000 | $423,397 | $9,282 | 5.58% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 98 | $49,360,000 | $503,673 | $11,128 | 5.52% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 83 | $39,655,000 | $477,771 | $12,971 | 5.51% |
| VALLEJO, CA (FHA|USDA|VA) | 51 | $32,345,000 | $634,216 | $13,579 | 5.92% |
| GREELEY, CO (FHA|USDA|VA) | 55 | $28,345,000 | $515,364 | $7,301 | 5.73% |
| PROVO-OREM, UT (FHA|USDA|VA) | 53 | $27,995,000 | $528,208 | $6,963 | 5.70% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 80 | $24,460,000 | $305,750 | $9,376 | 5.89% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 89 | $23,695,000 | $266,236 | $7,207 | 5.84% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 104 | $23,350,000 | $224,519 | $7,048 | 6.13% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 51 | $22,865,000 | $448,333 | $8,141 | 5.84% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 41 | $20,735,000 | $505,732 | $9,584 | 5.64% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 91 | $19,715,000 | $216,648 | $7,325 | 6.38% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 43 | $19,605,000 | $455,930 | $10,267 | 5.35% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 73 | $19,125,000 | $261,986 | $7,628 | 5.99% |
| MADERA, CA (FHA|USDA|VA) | 44 | $17,530,000 | $398,409 | $7,599 | 5.78% |
| MERCED, CA (FHA|USDA|VA) | 33 | $15,325,000 | $464,394 | $9,219 | 5.89% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 19 | $13,965,000 | $735,000 | $12,908 | 6.32% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 24 | $13,850,000 | $577,083 | $10,996 | 6.41% |
| FLORENCE, SC (FHA|USDA|VA) | 58 | $12,760,000 | $220,000 | $7,641 | 6.23% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 49 | $12,415,000 | $253,367 | $7,461 | 6.22% |
| Outside of Metro Areas | 44 | $12,200,000 | $277,273 | $7,914 | 6.10% |
| THE VILLAGES, FL (FHA|USDA|VA) | 46 | $11,660,000 | $253,478 | $8,940 | 6.12% |
| VISALIA, CA (FHA|USDA|VA) | 29 | $10,685,000 | $368,448 | $8,671 | 5.54% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 36 | $10,250,000 | $284,722 | $9,263 | 5.45% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 40 | $10,250,000 | $256,250 | $7,518 | 6.23% |
| Gaffney, SC (FHA|USDA|VA) | 46 | $10,100,000 | $219,565 | $6,926 | 5.99% |
| FLINT, MI (FHA|USDA|VA) | 41 | $10,015,000 | $244,268 | $6,465 | 5.95% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 34 | $8,630,000 | $253,824 | $7,383 | 5.98% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 40 | $8,200,000 | $205,000 | $7,467 | 5.97% |
| GAINESVILLE, GA (FHA|USDA|VA) | 30 | $8,010,000 | $267,000 | $7,731 | 7.66% |
| BOULDER, CO (FHA|USDA|VA) | 13 | $7,955,000 | $611,923 | $6,649 | 5.96% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 29 | $7,605,000 | $262,241 | $8,752 | 6.44% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 32 | $7,390,000 | $230,938 | $7,530 | 5.98% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 29 | $7,255,000 | $250,172 | $7,990 | 5.45% |
| LOUISVILLE, KY (FHA|USDA|VA) | 31 | $7,105,000 | $229,194 | $6,729 | 5.92% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 33 | $6,935,000 | $210,152 | $6,563 | 5.89% |
| Huntsville, TX (FHA|USDA|VA) | 30 | $6,900,000 | $230,000 | $7,530 | 5.58% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 29 | $6,695,000 | $230,862 | $6,768 | 6.29% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 27 | $6,455,000 | $239,074 | $6,766 | 5.85% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 25 | $6,415,000 | $256,600 | $7,863 | 6.36% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 26 | $5,710,000 | $219,615 | $6,030 | 5.80% |
| SPARTANBURG, SC (FHA|USDA|VA) | 25 | $5,565,000 | $222,600 | $7,501 | 6.10% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 20 | $5,490,000 | $274,500 | $8,797 | 5.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 21 | $5,355,000 | $255,000 | $7,621 | 5.99% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 20 | $5,050,000 | $252,500 | $7,689 | 5.82% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 17 | $5,045,000 | $296,765 | $10,846 | 6.32% |
| Kinston, NC (FHA|USDA|VA) | 22 | $4,590,000 | $208,636 | $7,504 | 5.95% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 20 | $4,560,000 | $228,000 | $7,730 | 5.62% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 16 | $4,420,000 | $276,250 | $7,265 | 6.34% |
| LAFAYETTE, LA (FHA|USDA|VA) | 20 | $4,130,000 | $206,500 | $6,914 | 5.68% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 13 | $3,425,000 | $263,462 | $7,707 | 6.07% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 11 | $3,225,000 | $293,182 | $8,667 | 5.45% |
| Palatka, FL (FHA|USDA|VA) | 14 | $3,210,000 | $229,286 | $7,208 | 5.82% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 11 | $3,015,000 | $274,091 | $8,915 | 5.98% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $3,000,000 | $750,000 | $8,331 | 6.41% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $2,675,000 | $297,222 | $9,637 | 5.51% |
| Bay City, TX (FHA|USDA|VA) | 12 | $2,530,000 | $210,833 | $5,843 | 5.73% |
| OCALA, FL (FHA|USDA|VA) | 12 | $2,490,000 | $207,500 | $6,778 | 6.39% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $2,380,000 | $595,000 | $13,708 | 5.78% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 9 | $2,325,000 | $258,333 | $7,976 | 6.08% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $2,315,000 | $463,000 | $5,575 | 6.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 7 | $2,085,000 | $297,857 | $10,274 | 5.71% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 5 | $2,045,000 | $409,000 | $9,529 | 5.60% |
| PANAMA CITY, FL (FHA|USDA|VA) | 7 | $1,875,000 | $267,857 | $7,485 | 5.59% |
| Albertville, AL (FHA|USDA|VA) | 10 | $1,760,000 | $176,000 | $6,095 | 6.26% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 8 | $1,760,000 | $220,000 | $5,908 | 6.02% |
| BRUNSWICK, GA (FHA|USDA|VA) | 6 | $1,610,000 | $268,333 | $8,775 | 6.38% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 6 | $1,410,000 | $235,000 | $8,182 | 5.75% |
| Georgetown, SC (FHA|USDA|VA) | 7 | $1,405,000 | $200,714 | $8,712 | 5.52% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $7,746 | 5.83% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $4,428 | 6.42% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $6,897 | 5.43% |
| Seneca, SC (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $6,130 | 6.15% |
| Scottsburg, IN (FHA|USDA|VA) | 6 | $1,100,000 | $183,333 | $6,538 | 5.73% |
| Shelby, NC (FHA|USDA|VA) | 6 | $1,020,000 | $170,000 | $3,851 | 6.21% |
| NILES, MI (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $7,029 | 5.88% |
| Clewiston, FL (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $8,708 | 6.59% |
| St. Marys, GA (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $7,298 | 6.19% |
| MUNCIE, IN (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $5,987 | 5.31% |
| MONROE, MI (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $6,525 | 7.38% |
| Lake City, FL (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $8,149 | 5.71% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $8,891 | 8.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $9,530 | 5.69% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $5,699 | 5.33% |
| Wilson, NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,423 | 5.44% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,130 | 5.88% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,892 | 6.13% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $12,215 | 5.50% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $16,383 | 4.88% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,195 | 6.75% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,845 | 4.88% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,223 | 5.50% |
| Richmond, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,460 | 4.75% |
| Connersville, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,412 | 4.88% |
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Product Mix
For 2023, Inspire Home Loans's most frequently originated type of loan was FHA, with 2,543 originations. Their 2nd most popular type was Conventional, with 1,951 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 5,431 | $1,904,675,000 | $350,704 | $8,677 | 5.89% |
For 2023, Inspire Home Loans's most frequently cited loan purpose was Home Purchase, with 5,431 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5,391 | $1,896,035,000 | $351,704 | $8,707 | 5.89% |
| 15 Year | 40 | $8,640,000 | $216,000 | $4,599 | 5.72% |
For 2023, Inspire Home Loans's most frequently cited loan duration was 30 Year, with 5,391 originations. The 2nd most popular length was 15 Year, with 40 originations.
Origination Fees/Closing Costs
Inspire Home Loans's average total fees were $8,707, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,027 originations.
Interest Rates
During 2023, Inspire Home Loans's average interest rate for loans was 5.89%, while their most frequently originated rate bucket for loans was 5-6%, with 2,960 originations.
Loan Sizing
2023 saw Inspire Home Loans place emphasis on $200k-400k loans with 3,322 originations, totaling $957,380,000 in origination value.
Applicant Income
Inspire Home Loans lent most frequently to those with incomes in the $100k-150k range, with 1,666 originations. The second most popular income band? $75k-100k, with 1,349 originations.
Applicant Debt to Income Ratio
Inspire Home Loans lent most frequently to those with DTI ratios of 50-60%, with 1,111 originations. The next most common DTI ratio? 30-36%, with 703 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.69%
Inspire Home Loans has an average approval rate.
Pick Rate
Approvals leading to origination68.61%
Inspire Home Loans 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 | 5,431 | $1,904,675,000 | $350,704 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,431 | $1,904,675,000 | $350,704 |