Inspire Home Loans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493007VW2EU20PZYU97

Tax ID: 81-4312733

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Mortgage Data

Review & Overview

Inspire Home Loans is a smaller mortgage company specializing in Home Purchase loans. Inspire Home Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Denver, Las Vegas, Charlotte, and Austin among others. We have data for 41 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 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.51% 11/17/24
30 Year Conventional Refi 6.66% 11/17/24
30 Year Cash-out Refi 6.64% 11/17/24
30 Year FHA Purchase 7.07% 11/17/24
30 Year FHA Refi 6.57% 11/17/24
30 Year VA Purchase 5.98% 11/17/24
30 Year USDA Purchase 6.83% 11/17/24
15 Year Conventional Purchase 6.12% 11/17/24
15 Year Conventional Refi 5.53% 11/17/24
15 Year Cash-out Refi 5.53% 11/17/24
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

2,176

Origination Dollar Volume (All Markets)

$683,450,000

Awards

INSPIRE HOME LOANS 30 Year Conventional Loans gold INSPIRE HOME LOANS FHA Loans silver INSPIRE HOME LOANS 30 Year Conventional Loans silver INSPIRE HOME LOANS 30 Year Conventional Loans bronze
Show all (4) 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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 592 $173,330,000 $292,787 $6,652 4.78%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 370 $137,820,000 $372,486 $4,638 4.84%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 361 $117,435,000 $325,305 $6,369 4.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 115 $29,345,000 $255,174 $4,126 4.71%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 89 $29,285,000 $329,045 $5,972 4.76%
SALT LAKE CITY, UT (FHA|USDA|VA) 72 $24,320,000 $337,778 $6,129 4.69%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 108 $21,180,000 $196,111 $4,976 5.03%
COLORADO SPRINGS, CO (FHA|USDA|VA) 60 $19,020,000 $317,000 $5,225 4.93%
GREELEY, CO (FHA|USDA|VA) 58 $18,580,000 $320,345 $5,479 5.05%
FRESNO, CA (FHA|USDA|VA) 45 $13,915,000 $309,222 $5,087 4.93%
PROVO-OREM, UT (FHA|USDA|VA) 42 $13,690,000 $325,952 $5,248 4.74%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $10,375,000 $610,294 $7,416 4.58%
FORT COLLINS, CO (FHA|USDA|VA) 32 $9,400,000 $293,750 $4,949 4.92%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 27 $8,935,000 $330,926 $7,462 4.84%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 33 $8,375,000 $253,788 $4,897 4.90%
Jefferson, GA (FHA|USDA|VA) 31 $7,365,000 $237,581 $5,944 4.77%
STOCKTON, CA (FHA|USDA|VA) 17 $6,335,000 $372,647 $6,421 4.78%
SALINAS, CA (FHA|USDA|VA) 13 $5,815,000 $447,308 $5,617 4.95%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 8 $4,480,000 $560,000 $8,098 4.33%
MODESTO, CA (FHA|USDA|VA) 11 $3,755,000 $341,364 $7,290 5.03%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 7 $3,655,000 $522,143 $5,842 4.70%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 8 $3,570,000 $446,250 $7,589 4.83%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 8 $2,670,000 $333,750 $5,991 4.80%
GAINESVILLE, GA (FHA|USDA|VA) 4 $1,520,000 $380,000 $9,168 4.22%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $1,415,000 $283,000 $4,359 4.83%
RALEIGH-CARY, NC (FHA|USDA|VA) 6 $1,280,000 $213,333 $5,600 4.96%
Outside of Metro Areas 3 $1,115,000 $371,667 $9,810 4.79%
FAYETTEVILLE, NC (FHA|USDA|VA) 6 $950,000 $158,333 $5,134 5.08%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $820,000 $410,000 $5,173 4.44%
WINSTON-SALEM, NC (FHA|USDA|VA) 5 $695,000 $139,000 $3,764 5.30%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $590,000 $147,500 $2,648 5.31%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $425,000 $141,667 $5,597 5.04%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $425,000 $141,667 $5,158 5.33%
Calhoun, GA (FHA|USDA|VA) 3 $385,000 $128,333 $4,227 5.17%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $235,000 $235,000 $9,593 5.00%
GREENVILLE, NC (FHA|USDA|VA) 2 $220,000 $110,000 $2,800 5.50%
Sanford, NC (FHA|USDA|VA) 1 $175,000 $175,000 $7,312 4.88%
Shelby, NC (FHA|USDA|VA) 1 $165,000 $165,000 $5,359 5.50%
TYLER, TX (FHA|USDA|VA) 1 $155,000 $155,000 $6,057 5.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $125,000 $125,000 $5,221 5.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,666 5.38%
Inspire Home Loans's top markets include Atlanta, Denver, Las Vegas, Charlotte, and Austin among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against INSPIRE HOME LOANS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Monterey Credit Union
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    Jordan Federal Credit Union
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    Sno Falls Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,545 $486,345,000 $314,786 $4,789 4.82%
    FHA 367 $105,005,000 $286,117 $9,111 4.97%
    VA 262 $91,560,000 $349,466 $7,283 4.74%
    USDA 2 $540,000 $270,000 $6,014 4.69%

    For 2018, Inspire Home Loans's most frequently originated type of loan was Conventional, with 1,545 originations. Their 2nd most popular type was FHA, with 367 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,170 $682,100,000 $314,332 $5,814 4.83%
    Refi 3 $665,000 $221,667 $2,588 4.79%
    Cash Out Refi 3 $685,000 $228,333 $5,009 5.00%

    For 2018, Inspire Home Loans's most frequently cited loan purpose was Home Purchase, with 2,170 originations. The 2nd most popular reason was Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,101 $665,025,000 $316,528 $5,863 4.85%
    15 Year 69 $17,195,000 $249,203 $4,300 4.28%
    20 Year 4 $1,040,000 $260,000 $4,955 4.56%
    10 Year 2 $190,000 $95,000 $3,408 4.69%

    For 2018, Inspire Home Loans's most frequently cited loan duration was 30 Year, with 2,101 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 997 $307,415,000 $308,340
    $2k-3k 300 $89,840,000 $299,467
    $<1k 280 $86,390,000 $308,536
    $3k-4k 216 $66,540,000 $308,056
    $5k+ 208 $76,950,000 $369,952
    $4k-5k 175 $56,315,000 $321,800

    Inspire Home Loans's average total fees were $5,863, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 997 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,670 $529,940,000 $317,329
    5-6% 428 $128,190,000 $299,509
    3-4% 63 $21,995,000 $349,127
    6-7% 14 $3,310,000 $236,429

    During 2018, Inspire Home Loans's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 1,670 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,537 $463,895,000 $301,818 $5,898 4.83%
    $400k-600k 353 $158,625,000 $449,363 $6,708 4.81%
    $100k-200k 229 $35,865,000 $156,616 $4,272 4.95%
    $100,000 or less 29 $2,215,000 $76,379 $2,893 4.72%
    $600k-1MM 25 $19,535,000 $781,400 $6,739 4.56%
    $1MM+ 3 $3,315,000 $1,105,000 $4,407 4.25%

    2018 saw Inspire Home Loans place emphasis on $200k-400k loans with 1,537 originations, totaling $463,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 678 $230,600,000 $340,118 $6,194 4.83%
    $75k-100k 546 $167,110,000 $306,062 $5,985 4.87%
    $50k-75k 466 $119,580,000 $256,609 $5,484 4.85%
    $150k-250k 299 $113,235,000 $378,712 $5,533 4.79%
    $50k or less 109 $20,085,000 $184,266 $4,806 4.86%
    $250k+ 78 $32,840,000 $421,026 $5,656 4.74%

    Inspire Home Loans lent most frequently to those with incomes in the $100k-150k range, with 678 originations. The second most popular income band? $75k-100k, with 546 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 324 $102,360,000 $315,926 $5,417 4.77%
    50-60% 270 $85,310,000 $315,963 $8,486 4.87%
    20-30% 257 $79,255,000 $308,385 $4,876 4.74%
    49% 130 $39,980,000 $307,538 $5,717 4.92%
    44% 102 $31,690,000 $310,686 $5,316 5.01%
    42% 102 $33,120,000 $324,706 $5,089 4.87%
    48% 100 $31,590,000 $315,900 $5,632 4.88%
    45% 94 $30,250,000 $321,809 $5,779 4.86%
    46% 93 $28,515,000 $306,613 $6,147 4.92%
    40% 92 $30,060,000 $326,739 $5,082 4.83%
    47% 89 $29,255,000 $328,708 $5,242 4.85%
    <20% 78 $18,410,000 $236,026 $4,245 4.69%
    43% 78 $24,500,000 $314,103 $6,034 4.83%
    39% 71 $24,225,000 $341,197 $5,577 4.86%
    41% 70 $22,650,000 $323,571 $5,425 4.87%
    37% 70 $22,770,000 $325,286 $5,764 4.84%
    38% 65 $20,245,000 $311,462 $5,690 4.85%
    36% 65 $20,695,000 $318,385 $6,043 4.74%
    >60% 25 $8,265,000 $330,600 $7,519 4.85%

    Inspire Home Loans lent most frequently to those with DTI ratios of 30-36%, with 324 originations. The next most common DTI ratio? 50-60%, with 270 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,166 $368,280,000 $315,849 $5,503 4.85%
    Not provided 335 $105,785,000 $315,776 $6,088 4.80%
    Black 329 $94,765,000 $288,040 $6,654 4.88%
    Asian 249 $80,465,000 $323,153 $5,764 4.76%
    Asian Indian 30 $10,670,000 $355,667 $5,537 4.69%
    American Indian 24 $8,020,000 $334,167 $4,727 5.04%
    Filipino 12 $4,590,000 $382,500 $5,483 4.99%
    Native Hawaiian or Islander 6 $2,960,000 $493,333 $7,109 4.42%
    Chinese 9 $2,735,000 $303,889 $6,028 4.42%
    Other Asian 6 $1,690,000 $281,667 $4,871 4.81%
    Korean 4 $1,370,000 $342,500 $5,320 5.13%
    Other Pacific Islander 3 $1,185,000 $395,000 $8,865 5.08%
    Vietnamese 2 $510,000 $255,000 $6,184 4.50%
    Guamanian 1 $425,000 $425,000 $21,951 4.50%

    Approval Rates

    Total approvals of all applications
    91.19%

    Inspire Home Loans has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.11%

    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 2,176 $683,450,000 $314,085

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 2,176 $683,450,000 $314,085

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 59 $8,155,000 $138,220 $3,582 4.75%
    40-60% 134 $29,610,000 $220,970 $4,410 4.72%
    60-80% 491 $160,705,000 $327,301 $5,125 4.79%
    80-100% 1,392 $452,340,000 $324,957 $5,904 4.87%
    Over 100% 85 $31,385,000 $369,235 $12,419 4.81%
    Under 20% 14 $950,000 $67,857 $2,820 4.61%