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 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, San Diego, and San Francisco 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.
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Originations
203Origination Dollar Volume (All Markets)
$99,595,000Top 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) | 77 | $45,615,000 | $592,403 | $17,878 | 7.02% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 99 | $42,585,000 | $430,152 | $17,205 | 7.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 8 | $3,330,000 | $416,250 | $17,445 | 7.22% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,230,000 | $615,000 | $16,770 | 8.06% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,130,000 | $565,000 | $29,396 | 7.13% |
| MERCED, CA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $17,439 | 8.44% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $18,643 | 7.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $17,927 | 7.50% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $20,426 | 6.75% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $21,275 | 7.75% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $11,722 | 7.25% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,773 | 7.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $12,388 | 6.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,879 | 6.13% |
| MADERA, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $12,532 | 7.75% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,859 | 5.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $15,293 | 6.75% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,265 | 7.38% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,523 | 7.38% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 102 | $50,950,000 | $499,510 | $13,948 | 7.54% |
| FHA | 98 | $46,710,000 | $476,633 | $20,770 | 6.53% |
| VA | 3 | $1,935,000 | $645,000 | $23,359 | 6.92% |
For 2023, Home Approvals Direct's most frequently originated type of loan was Conventional, with 102 originations. Their 2nd most popular type was FHA, with 98 originations.
Loan Reason
For 2023, Home Approvals Direct's most frequently cited loan purpose was Home Purchase, with 169 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 202 | $99,270,000 | $491,436 | $17,391 | 7.05% |
| 15 Year | 1 | $325,000 | $325,000 | $15,293 | 6.75% |
For 2023, Home Approvals Direct's most frequently cited loan duration was 30 Year, with 202 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Home Approvals Direct's average total fees were $17,391, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 163 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 88 | $42,870,000 | $487,159 |
| 7-8% | 63 | $31,735,000 | $503,730 |
| 5-6% | 26 | $12,540,000 | $482,308 |
| Over 8% | 25 | $11,745,000 | $469,800 |
| 4-5% | 1 | $705,000 | $705,000 |
During 2023, Home Approvals Direct's average interest rate for loans was 7.05%, while their most frequently originated rate bucket for loans was 6-7%, with 88 originations.
Loan Sizing
2023 saw Home Approvals Direct place emphasis on $400k-600k loans with 80 originations, totaling $39,590,000 in origination value.
Applicant Income
Home Approvals Direct lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $150k-250k, with 60 originations.
Applicant Debt to Income Ratio
Home Approvals Direct lent most frequently to those with DTI ratios of 50-60%, with 56 originations. The next most common DTI ratio? 49%, with 18 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 origination27.09%
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 | 203 | $99,595,000 | $490,616 |