Home Approvals Direct Mortgage Rates, Fees & InfoIRVINE, CA
Tax ID: 47-3626298
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewHome Approvals Direct is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Home Approvals Direct has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, Bakersfield, Fresno, and Salinas among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)
Home Approvals Direct 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. Home Approvals Direct 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.99%||12/10/23|
|30 Year Conventional Refi||6.62%||12/10/23|
|30 Year Cash-out Refi||6.93%||12/10/23|
|30 Year FHA Purchase||7.47%||12/10/23|
|30 Year FHA Refi||7.32%||12/10/23|
|30 Year VA Purchase||6.27%||12/10/23|
|15 Year Conventional Purchase||6.04%||12/10/23|
|15 Year Conventional Refi||6.53%||12/10/23|
|15 Year Cash-out Refi||6.53%||12/10/23|
|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.|
Home Approvals Direct Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Home Approvals Direct. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$179,795,000
Home Approvals Direct's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.06%.
Relative Fees (Closing Costs)
Home Approvals Direct's average total fees/closing costs for a 30 year fixed rate
mortgage were $14,947.
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.
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|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||181||$91,835,000||$507,376||$15,554||4.66%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||174||$71,080,000||$408,506||$13,964||4.91%|
|BAKERSFIELD, CA (FHA|USDA|VA)||14||$4,170,000||$297,857||$12,256||4.73%|
|FRESNO, CA (FHA|USDA|VA)||7||$2,195,000||$313,571||$11,322||4.75%|
|SALINAS, CA (FHA|USDA|VA)||2||$1,420,000||$710,000||$29,855||6.44%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||2||$1,350,000||$675,000||$36,246||5.06%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||3||$1,315,000||$438,333||$20,419||5.42%|
|VISALIA, CA (FHA|USDA|VA)||3||$965,000||$321,667||$14,178||5.42%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||2||$920,000||$460,000||$16,008||6.19%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||2||$900,000||$450,000||$21,505||4.81%|
|SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA)||2||$870,000||$435,000||$17,658||3.50%|
|MERCED, CA (FHA|USDA|VA)||2||$620,000||$310,000||$14,433||5.13%|
|OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA)||1||$475,000||$475,000||$18,010||3.75%|
|PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)||1||$425,000||$425,000||$6,595||6.38%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||1||$355,000||$355,000||$10,632||4.50%|
|MADERA, CA (FHA|USDA|VA)||1||$295,000||$295,000||$8,377||3.88%|
|MODESTO, CA (FHA|USDA|VA)||1||$245,000||$245,000||$7,854||4.88%|
|COLORADO SPRINGS, CO (FHA|USDA|VA)||1||$205,000||$205,000||$9,574||5.50%|
|MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA)||1||$155,000||$155,000||$9,152||5.63%|
We use machine learning to identify the top lenders compared against HOME APPROVALS DIRECT based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Home Approvals Direct's most frequently originated type of loan was Conventional, with 238 originations. Their 2nd most popular type was FHA, with 150 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||108||$41,570,000||$384,907||$13,328||4.60%|
For 2022, Home Approvals Direct's most frequently cited loan purpose was Home Purchase, with 250 originations. The 2nd most popular reason was Cash Out Refi, with 108 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Home Approvals Direct's most frequently cited loan duration was 30 Year, with 393 originations. The 2nd most popular length was 20 Year, with 5 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Home Approvals Direct's average total fees were $14,947, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 284 originations.
During 2022, Home Approvals Direct's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 3-4%, with 116 originations.
2022 saw Home Approvals Direct place emphasis on $200k-400k loans with 157 originations, totaling $49,365,000 in origination value.
Home Approvals Direct lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $75k-100k, with 110 originations.
Applicant Debt to Income Ratio
Home Approvals Direct lent most frequently to those with DTI ratios of 50-60%, with 86 originations. The next most common DTI ratio? 49%, with 36 originations.
Approval RatesTotal approvals of all applications
Home Approvals Direct has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Home Approvals Direct 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|