Fidelity Direct Mortgage Rates, Fees & Info
CLARKSVILLE, MDLEI: 549300BKWR5OM8PWIN62
Tax ID: 11-3748478
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Mortgage Data
Review & Overview
Fidelity Direct Mortgage is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Fidelity Direct Mortgage has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Baltimore, Hagerstown, Salisbury, and Philadelphia among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Fidelity Direct Mortgage has an 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 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 11/17/24 |
| 30 Year Conventional Refi | 6.73% | 11/17/24 |
| 30 Year FHA Purchase | 7.48% | 11/17/24 |
| 30 Year FHA Refi | 7.18% | 11/17/24 |
| 30 Year VA Purchase | 6.42% | 11/17/24 |
| 30 Year VA Refi | 5.98% | 11/17/24 |
| 30 Year USDA Purchase | 7.06% | 11/17/24 |
| 15 Year Conventional Purchase | 5.79% | 11/17/24 |
| 15 Year Conventional Refi | 6.03% | 11/17/24 |
| 15 Year Cash-out Refi | 6.03% | 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. | ||
Fidelity Direct Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
744Origination Dollar Volume (All Markets)
$210,170,000Awards
FIDELITY DIRECT MORTGAGE - 2018
FIDELITY DIRECT MORTGAGE 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 406 | $130,710,000 | $321,946 | $8,247 | 5.23% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 285 | $68,245,000 | $239,456 | $7,293 | 5.03% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 13 | $2,545,000 | $195,769 | $6,845 | 4.84% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 8 | $1,910,000 | $238,750 | $7,552 | 5.76% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $8,407 | 5.03% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $5,547 | 4.86% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $9,397 | 4.94% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $6,611 | 4.83% |
| MOBILE, AL (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $5,991 | 4.75% |
| Outside of Metro Areas | 4 | $550,000 | $137,500 | $6,681 | 5.09% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,354 | 4.44% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,981 | 4.88% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $4,255 | 4.96% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,947 | 4.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,201 | 4.38% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,903 | 5.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,770 | 5.13% |
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.
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Product Mix
For 2018, Fidelity Direct Mortgage's most frequently originated type of loan was FHA, with 392 originations. Their 2nd most popular type was Conventional, with 305 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 629 | $177,435,000 | $282,091 | $7,889 | 5.22% |
| Refi | 115 | $32,735,000 | $284,652 | $7,157 | 4.69% |
For 2018, Fidelity Direct Mortgage's most frequently cited loan purpose was Home Purchase, with 629 originations. The 2nd most popular reason was Refi, with 115 originations.
Loan Duration/Length
For 2018, Fidelity Direct Mortgage's most frequently cited loan duration was 30 Year, with 723 originations. The 2nd most popular length was 15 Year, with 16 originations.
Origination Fees/Closing Costs
Fidelity Direct Mortgage's average total fees were $7,866, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 275 originations.
Interest Rates
During 2018, Fidelity Direct Mortgage's average interest rate for loans was 5.16%, while their most frequently originated rate bucket for loans was 4-5%, with 447 originations.
Loan Sizing
2018 saw Fidelity Direct Mortgage place emphasis on $200k-400k loans with 430 originations, totaling $122,110,000 in origination value.
Applicant Income
Fidelity Direct Mortgage lent most frequently to those with incomes in the $50k-75k range, with 219 originations. The second most popular income band? $75k-100k, with 155 originations.
Applicant Debt to Income Ratio
Fidelity Direct Mortgage lent most frequently to those with DTI ratios of 50-60%, with 176 originations. The next most common DTI ratio? 30-36%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.18%
Fidelity Direct Mortgage has a below average approval rate.
Pick Rate
Approvals leading to origination83.60%
Fidelity Direct Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 744 | $210,170,000 | $282,487 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 744 | $210,170,000 | $282,487 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fidelity Direct Mortgage, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |