Home Approvals Direct Mortgage Rates, Fees & Info
IRVINE, CALEI: 549300FTR6GEUX8QTI81
Tax ID: 47-3626298
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Mortgage Data
Review & Overview
Home Approvals Direct is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and 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, San Francisco, San Jose, and Sacramento among others. We have data for 33 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.99% | 4/14/24 |
| 30 Year Conventional Refi | 6.62% | 4/14/24 |
| 30 Year Cash-out Refi | 6.93% | 4/14/24 |
| 30 Year FHA Purchase | 7.47% | 4/14/24 |
| 30 Year FHA Refi | 7.32% | 4/14/24 |
| 30 Year VA Purchase | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 6.04% | 4/14/24 |
| 15 Year Conventional Refi | 6.53% | 4/14/24 |
| 15 Year Cash-out Refi | 6.53% | 4/14/24 |
| 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. | ||
Home Approvals Direct Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
920Origination Dollar Volume (All Markets)
$336,950,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 496 | $205,600,000 | $414,516 | $10,227 | 4.36% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 289 | $86,975,000 | $300,952 | $9,553 | 4.37% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 16 | $8,050,000 | $503,125 | $11,093 | 4.06% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 11 | $5,045,000 | $458,636 | $14,160 | 4.27% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 13 | $3,785,000 | $291,154 | $7,235 | 4.74% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 8 | $3,080,000 | $385,000 | $5,140 | 4.14% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $2,860,000 | $476,667 | $12,811 | 4.21% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 11 | $2,615,000 | $237,727 | $6,971 | 4.54% |
| FRESNO, CA (FHA|USDA|VA) | 9 | $2,275,000 | $252,778 | $7,474 | 4.60% |
| STOCKTON, CA (FHA|USDA|VA) | 5 | $1,805,000 | $361,000 | $5,713 | 3.95% |
| SALINAS, CA (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $6,907 | 5.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,220,000 | $305,000 | $8,318 | 4.38% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $15,495 | 4.54% |
| MERCED, CA (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $9,202 | 4.70% |
| MODESTO, CA (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $7,540 | 5.58% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $7,034 | 4.25% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $11,032 | 5.13% |
| VISALIA, CA (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $6,805 | 4.84% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $5,530 | 4.29% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $5,442 | 3.88% |
| Sonora, CA (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $4,523 | 4.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $5,513 | 5.09% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $4,472 | 4.50% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,378 | 4.38% |
| BEND, OR (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,429 | 3.50% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,704 | 3.50% |
| MADERA, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,086 | 5.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,520 | 4.13% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $12,519 | 4.50% |
| Clearlake, CA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $6,612 | 4.13% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,399 | 3.63% |
| Outside of Metro Areas | 1 | $195,000 | $195,000 | $7,793 | 4.50% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,799 | 3.75% |
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Product Mix
For 2019, Home Approvals Direct's most frequently originated type of loan was Conventional, with 537 originations. Their 2nd most popular type was FHA, with 363 originations.
Loan Reason
For 2019, Home Approvals Direct's most frequently cited loan purpose was Home Purchase, with 368 originations. The 2nd most popular reason was Cash Out Refi, with 293 originations.
Loan Duration/Length
For 2019, Home Approvals Direct's most frequently cited loan duration was 30 Year, with 888 originations. The 2nd most popular length was 15 Year, with 18 originations.
Origination Fees/Closing Costs
Home Approvals Direct's average total fees were $9,905, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 340 originations.
Interest Rates
During 2019, Home Approvals Direct's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 4-5%, with 428 originations.
Loan Sizing
2019 saw Home Approvals Direct place emphasis on $200k-400k loans with 465 originations, totaling $139,735,000 in origination value.
Applicant Income
Home Approvals Direct lent most frequently to those with incomes in the $100k-150k range, with 232 originations. The second most popular income band? $50k-75k, with 220 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 48% | 1 | $325,000 | $325,000 | $10,314 | 3.88% |
Home Approvals Direct lent most frequently to those with DTI ratios of 48%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.92%
Home Approvals Direct has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination60.87%
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 |
|---|---|---|---|
| NA | 920 | $336,950,000 | $366,250 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $550,000 | $275,000 |
| Single Family (1-4 Units):Site-Built | 918 | $336,400,000 | $366,449 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 80-100% | 1 | $325,000 | $325,000 | $10,314 | 3.88% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Home Approvals Direct, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |