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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 4/22/24 |
| 30 Year Conventional Refi | 6.66% | 4/22/24 |
| 30 Year Cash-out Refi | 6.64% | 4/22/24 |
| 30 Year FHA Purchase | 7.07% | 4/22/24 |
| 30 Year FHA Refi | 6.57% | 4/22/24 |
| 30 Year VA Purchase | 5.98% | 4/22/24 |
| 30 Year USDA Purchase | 6.83% | 4/22/24 |
| 15 Year Conventional Purchase | 6.12% | 4/22/24 |
| 15 Year Conventional Refi | 5.53% | 4/22/24 |
| 15 Year Cash-out Refi | 5.53% | 4/22/24 |
| 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
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This is not an official calculator from Inspire Home Loans. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,176Origination Dollar Volume (All Markets)
$683,450,000Awards
INSPIRE HOME LOANS - 2018
INSPIRE HOME LOANS is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| 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% |
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.
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Product Mix
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
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
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
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
2018 saw Inspire Home Loans place emphasis on $200k-400k loans with 1,537 originations, totaling $463,895,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications91.19%
Inspire Home Loans has an average approval rate.
Pick Rate
Approvals leading to origination64.11%
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 |