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 Refi, Home Purchase, and Cash Out Refi loans. Home Approvals Direct has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, Bakersfield, San Jose, and San Francisco among others. We have data for 32 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.62% | 11/21/24 |
| 30 Year Cash-out Refi | 6.93% | 11/21/24 |
| 30 Year FHA Purchase | 7.47% | 11/21/24 |
| 30 Year FHA Refi | 7.32% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 6.04% | 11/21/24 |
| 15 Year Conventional Refi | 6.53% | 11/21/24 |
| 15 Year Cash-out Refi | 6.53% | 11/21/24 |
| 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
1,255Origination Dollar Volume (All Markets)
$497,475,000Top 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) | 638 | $283,270,000 | $443,997 | $9,921 | 3.06% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 459 | $158,235,000 | $344,739 | $9,465 | 3.12% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 31 | $8,215,000 | $265,000 | $7,318 | 3.11% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 19 | $8,035,000 | $422,895 | $10,474 | 3.12% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 17 | $7,055,000 | $415,000 | $5,910 | 2.84% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 12 | $6,240,000 | $520,000 | $8,353 | 2.97% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 7 | $3,325,000 | $475,000 | $13,062 | 3.46% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $3,100,000 | $516,667 | $10,660 | 3.06% |
| FRESNO, CA (FHA|USDA|VA) | 9 | $2,165,000 | $240,556 | $6,314 | 3.44% |
| SALINAS, CA (FHA|USDA|VA) | 5 | $1,995,000 | $399,000 | $12,146 | 3.37% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $1,870,000 | $311,667 | $7,728 | 3.21% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $7,881 | 2.84% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $8,907 | 3.41% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $5,118 | 3.25% |
| MODESTO, CA (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $9,530 | 3.62% |
| VISALIA, CA (FHA|USDA|VA) | 6 | $1,130,000 | $188,333 | $8,364 | 3.25% |
| MERCED, CA (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $10,769 | 3.41% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $7,390 | 2.91% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $5,007 | 3.21% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $9,619 | 3.06% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,854 | 3.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,502 | 2.25% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,602 | 2.99% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,145 | 2.25% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,487 | 2.50% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,921 | 2.38% |
| Sonora, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,638 | 3.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,731 | 3.38% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,743 | 3.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,727 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,747 | 3.25% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $4,680 | 3.50% |
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Product Mix
For 2021, Home Approvals Direct's most frequently originated type of loan was Conventional, with 897 originations. Their 2nd most popular type was FHA, with 326 originations.
Loan Reason
For 2021, Home Approvals Direct's most frequently cited loan purpose was Refi, with 467 originations. The 2nd most popular reason was Home Purchase, with 425 originations.
Loan Duration/Length
For 2021, Home Approvals Direct's most frequently cited loan duration was 30 Year, with 1,170 originations. The 2nd most popular length was 15 Year, with 51 originations.
Origination Fees/Closing Costs
Home Approvals Direct's average total fees were $9,824, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 509 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 612 | $242,450,000 | $396,160 |
| 2.5-3% | 491 | $197,065,000 | $401,354 |
| <2.5% | 128 | $49,330,000 | $385,391 |
| 4-5% | 23 | $8,355,000 | $363,261 |
| 5-6% | 1 | $275,000 | $275,000 |
During 2021, Home Approvals Direct's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 612 originations.
Loan Sizing
2021 saw Home Approvals Direct place emphasis on $200k-400k loans with 578 originations, totaling $177,580,000 in origination value.
Applicant Income
Home Approvals Direct lent most frequently to those with incomes in the $100k-150k range, with 319 originations. The second most popular income band? $75k-100k, with 293 originations.
Applicant Debt to Income Ratio
Home Approvals Direct lent most frequently to those with DTI ratios of 50-60%, with 159 originations. The next most common DTI ratio? 30-36%, with 142 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination41.43%
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 | 1,255 | $497,475,000 | $396,394 |