Fidelity Direct Mortgage Rates, Fees & Info

CLARKSVILLE, MD

LEI: 549300BKWR5OM8PWIN62

Tax ID: 11-3748478

3 stars - out of 5 stars, based on 39 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Fidelity Direct Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Fidelity Direct Mortgage 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: Washington, Baltimore, Charlotte, Hagerstown, and Virginia Beach among others. We have data for 40 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fidelity Direct Mortgage 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. Fidelity Direct Mortgage 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 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 6.62% 10/3/22
    30 Year Conventional Refi 6.40% 10/3/22
    30 Year Cash-out Refi 6.29% 10/3/22
    30 Year FHA Purchase 7.57% 10/3/22
    30 Year FHA Refi 6.99% 10/3/22
    30 Year VA Purchase 6.47% 10/3/22
    30 Year VA Refi 6.08% 10/3/22
    30 Year USDA Purchase 7.14% 10/3/22
    15 Year Conventional Purchase 6.14% 10/3/22
    15 Year Conventional Refi 6.09% 10/3/22
    15 Year Cash-out Refi 6.09% 10/3/22
    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.


    Originations

    1,523

    Origination Dollar Volume (All Markets)

    $518,835,000

    Awards

    FIDELITY DIRECT MORTGAGE  30 Year Conventional Loans silver
    Show all (1) awards

    Relative Rate

    Fidelity Direct Mortgage 's average 30 year fixed mortgage rate was 3.07%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.08%.

    Relative Fees (Closing Costs)

    Fidelity Direct Mortgage 's average total fees/closing costs for a 30 year fixed rate mortgage were $6,996.

    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 $4,750.

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 821 $309,265,000 $376,693 $6,526 2.94%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 423 $126,525,000 $299,113 $6,524 2.95%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 87 $26,795,000 $307,989 $5,877 3.24%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 21 $5,765,000 $274,524 $7,594 3.06%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 14 $5,550,000 $396,429 $8,255 3.19%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 25 $5,375,000 $215,000 $5,774 2.80%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $5,195,000 $472,273 $11,142 3.08%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 16 $4,840,000 $302,500 $7,288 3.09%
    SALISBURY, MD-DE (FHA|USDA|VA) 14 $3,090,000 $220,714 $5,439 2.94%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $2,430,000 $405,000 $5,932 3.23%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $2,115,000 $423,000 $6,249 2.82%
    Outside of Metro Areas 8 $1,830,000 $228,750 $6,653 3.25%
    RICHMOND, VA (FHA|USDA|VA) 8 $1,730,000 $216,250 $5,172 3.37%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 6 $1,610,000 $268,333 $8,524 2.96%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $1,580,000 $395,000 $7,949 2.72%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 6 $1,540,000 $256,667 $6,782 2.96%
    RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,440,000 $360,000 $4,407 2.84%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,360,000 $340,000 $8,556 3.31%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 4 $1,270,000 $317,500 $3,832 3.03%
    DOVER, DE (FHA|USDA|VA) 5 $1,175,000 $235,000 $6,558 3.47%
    Kill Devil Hills, NC (FHA|USDA|VA) 2 $1,050,000 $525,000 $4,616 3.13%
    YORK-HANOVER, PA (FHA|USDA|VA) 4 $800,000 $200,000 $6,215 2.78%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $750,000 $375,000 $6,464 3.31%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $675,000 $225,000 $5,341 3.08%
    Brevard, NC (FHA|USDA|VA) 1 $645,000 $645,000 $12,203 3.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $590,000 $295,000 $7,383 2.38%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $550,000 $275,000 $5,693 3.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $510,000 $255,000 $6,377 2.69%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $415,000 $415,000 $8,124 4.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $380,000 $190,000 $3,722 3.25%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $295,000 $295,000 $4,525 2.75%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,749 2.88%
    Easton, MD (FHA|USDA|VA) 1 $265,000 $265,000 $7,804 2.99%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $255,000 $255,000 $5,219 3.25%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $235,000 $235,000 $3,768 3.38%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $165,000 $165,000 $3,692 3.13%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $165,000 $165,000 $3,255 2.63%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $155,000 $155,000 $4,991 3.25%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $125,000 $125,000 $4,897 3.50%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $55,000 $55,000 $3,732 4.25%

    Fidelity Direct Mortgage 's top markets include Washington, Baltimore, Charlotte, Hagerstown, and Virginia Beach among others.

    Similar Lenders

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

    PATRIOT
    Similarity Rank: 228
    Sail Mortgage Corp.
    Similarity Rank: 360
    Louviers Federal Credit Union
    Similarity Rank: 410
    POINT BREEZE
    Similarity Rank: 477
    BHCU
    Similarity Rank: 504
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    Securityplus FCU
    Similarity Rank: 736
    Columbia Bank
    Similarity Rank: 1105
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1344

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,180 $406,300,000 $344,322 $5,254 2.95%
    FHA 290 $90,110,000 $310,724 $11,065 3.08%
    VA 49 $21,425,000 $437,245 $9,901 2.80%
    USDA 4 $1,000,000 $250,000 $6,840 3.28%

    For 2021, Fidelity Direct Mortgage 's most frequently originated type of loan was Conventional, with 1,180 originations. Their 2nd most popular type was FHA, with 290 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 784 $270,580,000 $345,128 $7,904 3.14%
    Refi 739 $248,255,000 $335,934 $5,042 2.79%

    For 2021, Fidelity Direct Mortgage 's most frequently cited loan purpose was Home Purchase, with 784 originations. The 2nd most popular reason was Refi, with 739 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,270 $438,300,000 $345,118 $6,996 3.07%
    15 Year 170 $55,120,000 $324,235 $4,187 2.40%
    20 Year 45 $14,775,000 $328,333 $3,991 2.73%
    Other 24 $7,450,000 $310,417 $4,015 2.80%
    10 Year 14 $3,190,000 $227,857 $3,590 2.27%

    For 2021, Fidelity Direct Mortgage 's most frequently cited loan duration was 30 Year, with 1,270 originations. The 2nd most popular length was 15 Year, with 170 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 884 $302,090,000 $341,731
    $2k-3k 204 $60,310,000 $295,637
    $5k+ 166 $70,500,000 $424,699
    $3k-4k 149 $45,425,000 $304,866
    $4k-5k 100 $32,890,000 $328,900
    $<1k 20 $7,620,000 $381,000

    Fidelity Direct Mortgage 's average total fees were $6,996, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 884 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 741 $258,885,000 $349,372
    3-4% 488 $161,710,000 $331,373
    <2.5% 260 $88,240,000 $339,385
    4-5% 26 $7,250,000 $278,846
    7-8% 4 $1,200,000 $300,000
    6-7% 3 $985,000 $328,333
    5-6% 1 $565,000 $565,000

    During 2021, Fidelity Direct Mortgage 's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 741 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 851 $250,915,000 $294,847 $6,382 2.99%
    $400k-600k 358 $172,140,000 $480,838 $6,932 2.88%
    $100k-200k 228 $36,290,000 $159,167 $5,080 3.00%
    $600k-1MM 67 $48,345,000 $721,567 $9,471 3.09%
    $100,000 or less 12 $960,000 $80,000 $3,995 3.22%
    $1MM+ 7 $10,185,000 $1,455,000 $24,267 3.05%

    2021 saw Fidelity Direct Mortgage place emphasis on $200k-400k loans with 851 originations, totaling $250,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 357 $131,835,000 $369,286 $6,270 2.94%
    $50k-75k 356 $99,840,000 $280,449 $6,829 3.01%
    $75k-100k 277 $91,505,000 $330,343 $7,016 3.08%
    $150k-250k 224 $99,140,000 $442,589 $6,563 2.90%
    $50k or less 176 $36,450,000 $207,102 $5,776 2.94%
    $250k+ 106 $50,510,000 $476,509 $6,247 2.99%

    Fidelity Direct Mortgage lent most frequently to those with incomes in the $100k-150k range, with 357 originations. The second most popular income band? $50k-75k, with 356 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 269 $89,575,000 $332,993 $4,974 2.89%
    30-36% 267 $90,795,000 $340,056 $5,608 2.98%
    44% 101 $35,335,000 $349,851 $7,380 3.00%
    50-60% 92 $30,610,000 $332,717 $11,430 3.05%
    <20% 73 $23,005,000 $315,137 $4,531 2.79%
    42% 69 $23,485,000 $340,362 $6,802 3.04%
    43% 62 $21,080,000 $340,000 $6,431 3.12%
    49% 60 $20,470,000 $341,167 $7,466 2.94%
    40% 56 $16,510,000 $294,821 $6,428 3.06%
    41% 55 $17,505,000 $318,273 $6,759 3.01%
    39% 52 $19,200,000 $369,231 $6,324 2.98%
    37% 52 $18,970,000 $364,808 $6,392 2.98%
    45% 49 $16,725,000 $341,327 $7,555 3.06%
    46% 47 $16,435,000 $349,681 $6,757 2.92%
    47% 46 $15,950,000 $346,739 $6,755 2.96%
    38% 46 $17,200,000 $373,913 $7,358 3.01%
    48% 45 $14,645,000 $325,444 $6,944 3.25%
    36% 37 $13,135,000 $355,000 $6,739 3.06%
    >60% 5 $4,125,000 $825,000 $20,196 3.20%

    Fidelity Direct Mortgage lent most frequently to those with DTI ratios of 20-30%, with 269 originations. The next most common DTI ratio? 30-36%, with 267 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 590 $212,910,000 $360,864 $5,350 2.84%
    White 458 $151,410,000 $330,590 $6,315 3.06%
    Black 419 $135,025,000 $322,255 $8,334 3.07%
    Not provided 46 $16,120,000 $350,435 $6,971 2.98%
    American Indian 8 $2,580,000 $322,500 $6,382 2.78%
    Native Hawaiian or Islander 2 $790,000 $395,000 $4,862 3.31%

    Approval Rates

    Total approvals of all applications
    90.45%

    Fidelity Direct Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.82%

    Fidelity Direct Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,523 $518,835,000 $340,666

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,523 $518,835,000 $340,666

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $8,540,000 $237,222 $4,375 2.64%
    40-60% 172 $51,860,000 $301,512 $4,291 2.67%
    60-80% 567 $196,955,000 $347,363 $5,155 2.99%
    80-100% 730 $253,900,000 $347,808 $7,978 3.05%
    Over 100% 13 $6,345,000 $488,077 $19,657 3.06%
    Under 20% 3 $685,000 $228,333 $4,154 2.42%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Fidelity Direct Mortgage, LLC FHA mortgage Closing on a mortgage 2 100.0%