Iapprove Lending Mortgage Rates, Fees & Info

SANTA ANA, CA

LEI: 549300G3FCPL48R4HU28

Tax ID: 33-1131083

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

    Iapprove Lending is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Iapprove Lending 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, Washington, Sacramento, and Oxnard among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Iapprove Lending 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. Iapprove Lending is typically a low 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 6.67% 11/22/24
    30 Year Conventional Refi 6.48% 11/22/24
    30 Year Cash-out Refi 7.43% 11/22/24
    15 Year Conventional Refi 5.88% 11/22/24
    15 Year Cash-out Refi 5.88% 11/22/24
    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.

    Iapprove Lending Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Iapprove Lending. 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

    399

    Origination Dollar Volume (All Markets)

    $147,185,000
    Show all (7) 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) 280 $109,760,000 $392,000 $2,319 4.13%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 40 $12,300,000 $307,500 $2,155 4.23%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $8,725,000 $349,000 $2,018 4.18%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 17 $4,195,000 $246,765 $1,798 4.00%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $2,055,000 $411,000 $1,192 4.18%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,935,000 $645,000 $1,492 4.71%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,910,000 $477,500 $4,324 3.88%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,425,000 $475,000 $3,623 4.33%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $1,265,000 $180,714 $1,884 4.45%
    BAKERSFIELD, CA (FHA|USDA|VA) 5 $1,135,000 $227,000 $1,880 4.53%
    SALINAS, CA (FHA|USDA|VA) 2 $450,000 $225,000 $2,368 3.94%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $395,000 $395,000 $1,890 5.50%
    VALLEJO, CA (FHA|USDA|VA) 1 $355,000 $355,000 $1,095 3.00%
    CHICO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.88%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $255,000 $255,000 $1,690 4.00%
    MERCED, CA (FHA|USDA|VA) 1 $255,000 $255,000 $1,095 3.63%
    STOCKTON, CA (FHA|USDA|VA) 1 $225,000 $225,000 $1,095 3.63%
    FRESNO, CA (FHA|USDA|VA) 1 $145,000 $145,000 $2,495 4.88%
    VISALIA, CA (FHA|USDA|VA) 1 $95,000 $95,000 $2,599 5.00%
    Iapprove Lending's top markets include Los Angeles, Riverside, Washington, Sacramento, and Oxnard among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against IAPPROVE LENDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 318
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 546
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 636
    NYMEO FEDERAL CREDIT UNION
    Similarity Rank: 697
    Deer Valley Credit Union
    Similarity Rank: 820
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 828
    Ukrainian Federal Credit Union
    Similarity Rank: 864

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 350 $129,110,000 $368,886 $2,314 4.16%
    FHA 49 $18,075,000 $368,878 $1,711 4.10%

    For 2019, Iapprove Lending's most frequently originated type of loan was Conventional, with 350 originations. Their 2nd most popular type was FHA, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 151 $55,685,000 $368,775 $2,370 4.25%
    Refi 131 $48,365,000 $369,198 $1,959 3.96%
    Cash Out Refi 117 $43,135,000 $368,675 $2,411 4.23%

    For 2019, Iapprove Lending's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Refi, with 131 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 361 $135,195,000 $374,501 $2,252 4.21%
    15 Year 23 $6,705,000 $291,522 $1,938 3.40%
    20 Year 11 $4,255,000 $386,818 $3,002 3.69%
    Other 3 $835,000 $278,333 $1,393 3.79%
    10 Year 1 $195,000 $195,000 $2,465 4.00%

    For 2019, Iapprove Lending's most frequently cited loan duration was 30 Year, with 361 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 7 $1,795,000 $256,429
    $<1k 5 $795,000 $159,000
    $2k-3k 5 $1,765,000 $353,000
    $5k+ 2 $1,430,000 $715,000

    Iapprove Lending's average total fees were $2,252, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 7 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 204 $73,800,000 $361,765
    4-5% 175 $65,455,000 $374,029
    5-6% 15 $6,285,000 $419,000
    2.5-3% 4 $1,080,000 $270,000
    6-7% 1 $565,000 $565,000

    During 2019, Iapprove Lending's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 3-4%, with 204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 205 $63,535,000 $309,927 $1,990 4.11%
    $400k-600k 145 $68,275,000 $470,862 $2,542 4.15%
    $100k-200k 32 $5,070,000 $158,438 $1,798 4.25%
    $600k-1MM 13 $8,925,000 $686,538 $2,669 4.35%
    $100,000 or less 3 $255,000 $85,000 $2,361 4.67%
    $1MM+ 1 $1,125,000 $1,125,000 $21,367 5.63%

    2019 saw Iapprove Lending place emphasis on $200k-400k loans with 205 originations, totaling $63,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 101 $30,615,000 $303,119 $1,940 4.13%
    $75k-100k 101 $37,375,000 $370,050 $2,368 4.02%
    $100k-150k 96 $41,250,000 $429,688 $2,271 4.18%
    $50k or less 47 $12,225,000 $260,106 $2,024 4.38%
    $150k-250k 41 $18,495,000 $451,098 $2,400 4.13%
    $250k+ 13 $7,225,000 $555,769 $4,027 4.38%

    Iapprove Lending lent most frequently to those with incomes in the $50k-75k range, with 101 originations. The second most popular income band? $75k-100k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 46 $17,060,000 $370,870 $2,212 3.93%
    20-30% 42 $16,110,000 $383,571 $2,346 4.13%
    48% 30 $10,940,000 $364,667 $2,528 4.18%
    44% 29 $9,625,000 $331,897 $1,843 4.33%
    42% 26 $9,940,000 $382,308 $2,608 4.23%
    <20% 23 $7,505,000 $326,304 $1,802 4.30%
    43% 22 $7,660,000 $348,182 $2,192 4.10%
    41% 21 $6,755,000 $321,667 $2,280 4.24%
    47% 20 $7,340,000 $367,000 $2,119 4.31%
    50-60% 18 $6,850,000 $380,556 $1,747 3.99%
    45% 18 $6,880,000 $382,222 $1,988 4.12%
    46% 18 $6,760,000 $375,556 $2,090 4.04%
    49% 18 $6,000,000 $333,333 $1,989 4.14%
    39% 18 $6,790,000 $377,222 $1,852 4.10%
    38% 17 $7,885,000 $463,824 $3,475 4.19%
    37% 12 $4,870,000 $405,833 $1,943 4.11%
    36% 12 $5,490,000 $457,500 $3,481 4.01%
    40% 9 $2,725,000 $302,778 $2,066 4.51%

    Iapprove Lending lent most frequently to those with DTI ratios of 30-36%, with 46 originations. The next most common DTI ratio? 20-30%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 293 $109,845,000 $374,898 $2,275 4.12%
    White 91 $32,565,000 $357,857 $2,276 4.28%
    Not provided 13 $4,185,000 $321,923 $1,594 4.09%
    Black 2 $590,000 $295,000 $1,690 3.63%

    Approval Rates

    Total approvals of all applications
    99.66%

    Iapprove Lending 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
    56.14%

    Iapprove Lending 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 399 $147,185,000 $368,885

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 399 $147,185,000 $368,885

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $8,250,000 $257,813 $1,601 3.90%
    40-60% 97 $33,085,000 $341,082 $2,325 4.05%
    60-80% 181 $71,965,000 $397,597 $2,456 4.20%
    80-100% 86 $33,490,000 $389,419 $1,985 4.26%
    Under 20% 3 $395,000 $131,667 $1,158 4.25%