Home Approvals Direct Mortgage Rates, Fees & Info

IRVINE, CA

LEI: 549300FTR6GEUX8QTI81

Tax ID: 47-3626298

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Home 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.

    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 6.99% 12/3/24
    30 Year Conventional Refi 6.62% 12/3/24
    30 Year Cash-out Refi 6.93% 12/3/24
    30 Year FHA Purchase 7.47% 12/3/24
    30 Year FHA Refi 7.32% 12/3/24
    30 Year VA Purchase 6.27% 12/3/24
    15 Year Conventional Purchase 6.04% 12/3/24
    15 Year Conventional Refi 6.53% 12/3/24
    15 Year Cash-out Refi 6.53% 12/3/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Home Approvals Direct. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    401

    Origination Dollar Volume (All Markets)

    $179,795,000

    Awards

    HOME APPROVALS DIRECT VA Loans bronze
    Show all (1) awards

    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
    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%
    Home Approvals Direct's top markets include Los Angeles, Riverside, Bakersfield, Fresno, and Salinas among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    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.

    MISSION
    Similarity Rank: 30
    AltaOne Federal Credit Union
    Similarity Rank: 49
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 54
    SAFE 1 CREDIT UNION
    Similarity Rank: 57
    STRATA Credit Union
    Similarity Rank: 222
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 236
    Los Angeles Federal Credit Union
    Similarity Rank: 248
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 429
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 648
    MYPOINT Credit Union
    Similarity Rank: 705

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 238 $101,650,000 $427,101 $11,431 4.89%
    FHA 150 $71,270,000 $475,133 $20,221 4.70%
    VA 13 $6,875,000 $528,846 $14,424 4.34%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 250 $121,500,000 $486,000 $16,110 4.99%
    Cash Out Refi 108 $41,570,000 $384,907 $13,328 4.60%
    Refi 43 $16,725,000 $388,953 $11,030 4.24%

    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 Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 393 $177,425,000 $451,463 $14,947 4.82%
    20 Year 5 $1,435,000 $287,000 $8,386 4.30%
    15 Year 3 $935,000 $311,667 $8,335 3.00%

    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
    $5k+ 284 $128,130,000 $451,162
    $2k-3k 63 $30,585,000 $485,476
    $4k-5k 26 $8,570,000 $329,615
    $3k-4k 21 $9,165,000 $436,429
    $1k-2k 6 $3,100,000 $516,667
    $<1k 1 $245,000 $245,000

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 116 $51,380,000 $442,931
    5-6% 110 $50,330,000 $457,545
    4-5% 109 $47,955,000 $439,954
    6-7% 41 $17,455,000 $425,732
    2.5-3% 12 $5,430,000 $452,500
    7-8% 9 $5,555,000 $617,222
    Over 8% 3 $1,145,000 $381,667
    <2.5% 1 $545,000 $545,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 157 $49,365,000 $314,427 $11,547 4.79%
    $400k-600k 157 $75,735,000 $482,389 $15,816 4.84%
    $600k-1MM 69 $47,615,000 $690,072 $19,965 4.71%
    $100k-200k 14 $2,300,000 $164,286 $8,003 4.77%
    $1MM+ 4 $4,780,000 $1,195,000 $38,904 5.50%

    2022 saw Home Approvals Direct place emphasis on $200k-400k loans with 157 originations, totaling $49,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 118 $61,090,000 $517,712 $17,565 4.94%
    $75k-100k 110 $43,790,000 $398,091 $13,699 4.80%
    $50k-75k 76 $23,380,000 $307,632 $11,401 4.32%
    $150k-250k 61 $36,845,000 $604,016 $16,788 5.10%
    $250k+ 17 $9,225,000 $542,647 $17,228 5.59%
    $50k or less 16 $3,700,000 $231,250 $9,479 4.26%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 86 $43,450,000 $505,233 $20,707 4.82%
    49% 36 $17,470,000 $485,278 $13,326 4.97%
    46% 31 $12,775,000 $412,097 $12,648 4.57%
    30-36% 30 $11,890,000 $396,333 $11,377 5.04%
    44% 25 $11,105,000 $444,200 $12,372 4.74%
    47% 24 $10,660,000 $444,167 $15,060 4.81%
    48% 23 $9,515,000 $413,696 $15,324 5.04%
    45% 23 $10,455,000 $454,565 $12,679 4.85%
    42% 22 $8,700,000 $395,455 $13,218 4.95%
    43% 20 $9,410,000 $470,500 $13,160 4.72%
    41% 16 $6,070,000 $379,375 $13,521 4.79%
    20-30% 16 $6,480,000 $405,000 $12,772 4.98%
    38% 11 $4,585,000 $416,818 $11,003 4.21%
    <20% 7 $3,265,000 $466,429 $17,128 5.43%
    36% 7 $3,625,000 $517,857 $16,278 4.27%
    39% 7 $2,705,000 $386,429 $14,726 4.03%
    40% 7 $3,685,000 $526,429 $15,000 4.68%
    37% 4 $1,030,000 $257,500 $7,616 3.47%
    >60% 2 $790,000 $395,000 $15,771 4.06%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 281 $122,715,000 $436,708 $14,916 4.84%
    Not provided 78 $38,870,000 $498,333 $15,674 4.75%
    Black 28 $11,300,000 $403,571 $13,619 4.73%
    Asian 14 $6,910,000 $493,571 $10,413 4.54%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    -32.67%

    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 401 $179,795,000 $448,367

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    401 $179,795,000 $448,367

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $3,095,000 $238,077 $9,374 4.73%
    40-60% 61 $23,995,000 $393,361 $10,768 4.78%
    60-80% 124 $53,560,000 $431,935 $13,659 4.78%
    80-100% 200 $98,560,000 $492,800 $17,244 4.84%
    Under 20% 3 $585,000 $195,000 $6,647 4.38%