Iapprove Lending Mortgage Rates, Fees & Info

SANTA ANA, CA

LEI: 549300G3FCPL48R4HU28

Tax ID: 33-1131083

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Mortgage Data

Review & Overview

Iapprove Lending is a smaller mortgage company specializing in Refi loans. Iapprove Lending has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, Washington, San Jose, and Sacramento among others. We have data for 16 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. 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% 3/28/24
30 Year Conventional Refi 6.48% 3/28/24
30 Year Cash-out Refi 7.43% 3/28/24
15 Year Conventional Refi 5.88% 3/28/24
15 Year Cash-out Refi 5.88% 3/28/24
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

734

Origination Dollar Volume (All Markets)

$262,760,000

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) 587 $211,775,000 $360,775 $0 3.02%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 70 $23,490,000 $335,571 $0 3.18%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $9,735,000 $389,400 $0 3.14%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 8 $4,140,000 $517,500 $0 3.19%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 11 $3,375,000 $306,818 $0 3.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 9 $3,015,000 $335,000 $0 2.65%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $2,050,000 $341,667 $0 2.90%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,620,000 $405,000 $0 2.78%
FRESNO, CA (FHA|USDA|VA) 3 $745,000 $248,333 $0 3.08%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $670,000 $335,000 $0 3.38%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $525,000 $175,000 $0 3.46%
VALLEJO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $0 4.13%
REDDING, CA (FHA|USDA|VA) 2 $380,000 $190,000 $0 4.00%
SALINAS, CA (FHA|USDA|VA) 1 $355,000 $355,000 $0 4.25%
MERCED, CA (FHA|USDA|VA) 1 $315,000 $315,000 $0 4.50%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.75%
Iapprove Lending's top markets include Los Angeles, Riverside, Washington, San Jose, and Sacramento among others.

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

    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 330
    Chaffey Federal Credit Union
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    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
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    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 825
    First Credit Union
    Similarity Rank: 1034
    ARIZONA CENTRAL
    Similarity Rank: 1056
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    ALTITUDE FINANCIAL CORPORATION
    Similarity Rank: 1218

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 711 $253,935,000 $357,152 $0 3.05%
    FHA 23 $8,825,000 $383,696 $0 3.07%

    For 2020, Iapprove Lending's most frequently originated type of loan was Conventional, with 711 originations. Their 2nd most popular type was FHA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 540 $189,030,000 $350,056 $0 2.94%
    Cash Out Refi 113 $41,315,000 $365,619 $0 3.34%
    Home Purchase 81 $32,415,000 $400,185 $0 3.37%

    For 2020, Iapprove Lending's most frequently cited loan purpose was Refi, with 540 originations. The 2nd most popular reason was Cash Out Refi, with 113 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 551 $207,725,000 $376,996 $0 3.15%
    15 Year 102 $29,510,000 $289,314 $0 2.61%
    20 Year 50 $15,710,000 $314,200 $0 2.90%
    Other 26 $8,750,000 $336,538 $0 2.96%
    10 Year 5 $1,065,000 $213,000 $0 2.58%

    For 2020, Iapprove Lending's most frequently cited loan duration was 30 Year, with 551 originations. The 2nd most popular length was 15 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 14 $4,230,000 $302,143
    $2k-3k 11 $3,845,000 $349,545
    $<1k 6 $1,590,000 $265,000
    $3k-4k 6 $1,770,000 $295,000
    $5k+ 2 $840,000 $420,000
    $4k-5k 1 $425,000 $425,000

    Iapprove Lending's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 373 $131,445,000 $352,399
    3-4% 259 $99,585,000 $384,498
    <2.5% 79 $23,295,000 $294,873
    4-5% 22 $8,030,000 $365,000
    5-6% 1 $405,000 $405,000

    During 2020, Iapprove Lending's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 2.5-3%, with 373 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 416 $128,460,000 $308,798 $0 3.02%
    $400k-600k 233 $109,265,000 $468,948 $0 3.12%
    $100k-200k 65 $10,975,000 $168,846 $0 2.91%
    $600k-1MM 20 $14,060,000 $703,000 $0 3.19%

    2020 saw Iapprove Lending place emphasis on $200k-400k loans with 416 originations, totaling $128,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 194 $75,460,000 $388,969 $0 3.03%
    $50k-75k 194 $59,420,000 $306,289 $0 3.01%
    $75k-100k 179 $66,855,000 $373,492 $0 3.11%
    $150k-250k 78 $34,520,000 $442,564 $0 3.11%
    $50k or less 72 $17,460,000 $242,500 $0 3.06%
    $250k+ 17 $9,045,000 $532,059 $0 2.76%

    Iapprove Lending lent most frequently to those with incomes in the $100k-150k range, with 194 originations. The second most popular income band? $50k-75k, with 194 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 123 $45,765,000 $372,073 $0 2.97%
    20-30% 109 $37,085,000 $340,229 $0 2.96%
    46% 44 $16,860,000 $383,182 $0 3.08%
    38% 40 $13,860,000 $346,500 $0 2.97%
    47% 40 $14,330,000 $358,250 $0 3.13%
    40% 40 $13,440,000 $336,000 $0 3.12%
    39% 36 $13,000,000 $361,111 $0 3.11%
    44% 35 $13,945,000 $398,429 $0 3.25%
    48% 34 $11,260,000 $331,176 $0 3.04%
    42% 33 $12,095,000 $366,515 $0 3.18%
    <20% 32 $11,050,000 $345,313 $0 2.86%
    41% 32 $11,220,000 $350,625 $0 3.20%
    43% 32 $11,270,000 $352,188 $0 3.02%
    45% 32 $11,550,000 $360,938 $0 3.05%
    37% 25 $8,925,000 $357,000 $0 3.08%
    36% 22 $8,210,000 $373,182 $0 3.02%
    49% 22 $7,640,000 $347,273 $0 3.21%
    50-60% 3 $1,255,000 $418,333 $0 2.92%

    Iapprove Lending lent most frequently to those with DTI ratios of 30-36%, with 123 originations. The next most common DTI ratio? 20-30%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 583 $206,845,000 $354,794 $0 3.01%
    White 113 $42,085,000 $372,434 $0 3.24%
    Not provided 32 $12,030,000 $375,938 $0 2.99%
    Black 6 $1,800,000 $300,000 $0 3.15%

    Approval Rates

    Total approvals of all applications
    99.90%

    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
    60.08%

    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
    0.0 26 $10,710,000 $411,923
    1090.68 1 $225,000 $225,000
    1094.4 1 $285,000 $285,000
    1094.62 1 $235,000 $235,000
    1094.8 1 $475,000 $475,000
    1095.0 323 $110,245,000 $341,316
    1095.6 1 $335,000 $335,000
    1095.9 1 $425,000 $425,000
    1096.22 1 $345,000 $345,000
    1096.5 1 $515,000 $515,000
    1097.03 1 $455,000 $455,000
    11545.0 1 $765,000 $765,000
    1190.0 6 $2,300,000 $383,333
    1257.5 1 $135,000 $135,000
    1270.0 1 $455,000 $455,000
    1294.41 1 $165,000 $165,000
    1338.75 1 $195,000 $195,000
    1345.0 1 $205,000 $205,000
    1367.5 1 $215,000 $215,000
    1382.5 1 $235,000 $235,000
    1388.85 1 $235,000 $235,000
    1390.0 3 $525,000 $175,000
    1402.5 1 $125,000 $125,000
    1407.5 2 $510,000 $255,000
    1411.2 1 $515,000 $515,000
    1420.0 1 $265,000 $265,000
    1422.5 1 $265,000 $265,000
    1427.5 1 $265,000 $265,000
    1451.25 1 $285,000 $285,000
    1470.64 1 $335,000 $335,000
    1490.0 2 $780,000 $390,000
    1502.5 1 $325,000 $325,000
    1511.25 1 $335,000 $335,000
    1532.5 1 $355,000 $355,000
    1551.25 1 $365,000 $365,000
    1593.78 1 $485,000 $485,000
    1599.84 1 $405,000 $405,000
    1610.0 1 $205,000 $205,000
    1617.5 1 $415,000 $415,000
    1629.38 1 $425,000 $425,000
    1652.5 2 $890,000 $445,000
    1653.75 1 $145,000 $145,000
    1657.5 1 $455,000 $455,000
    1667.5 1 $225,000 $225,000
    1668.75 1 $455,000 $455,000
    1673.75 1 $465,000 $465,000
    1676.25 1 $235,000 $235,000
    1678.75 1 $465,000 $465,000
    1687.8 1 $195,000 $195,000
    1690.0 134 $52,060,000 $388,507
    1695.0 2 $410,000 $205,000
    1697.5 1 $485,000 $485,000
    1701.25 2 $970,000 $485,000
    1712.5 1 $245,000 $245,000
    1715.62 1 $245,000 $245,000
    1716.16 1 $245,000 $245,000
    1724.43 1 $505,000 $505,000
    1726.25 1 $505,000 $505,000
    1732.5 3 $1,545,000 $515,000
    1740.0 1 $515,000 $515,000
    1742.5 1 $255,000 $255,000
    1785.0 1 $275,000 $275,000
    1788.75 1 $185,000 $185,000
    1792.5 1 $185,000 $185,000
    1815.0 1 $195,000 $195,000
    1845.0 3 $715,000 $238,333
    1882.5 1 $215,000 $215,000
    1895.0 1 $325,000 $325,000
    1910.0 1 $325,000 $325,000
    1920.0 1 $165,000 $165,000
    1940.0 1 $335,000 $335,000
    1950.0 1 $345,000 $345,000
    1970.0 2 $710,000 $355,000
    1978.86 1 $355,000 $355,000
    1990.0 18 $4,890,000 $271,667
    1995.0 1 $245,000 $245,000
    2015.0 1 $365,000 $365,000
    2020.0 1 $375,000 $375,000
    2025.0 1 $245,000 $245,000
    2032.5 2 $750,000 $375,000
    2043.75 1 $255,000 $255,000
    2055.0 1 $125,000 $125,000
    2065.0 1 $195,000 $195,000
    2082.5 1 $395,000 $395,000
    2085.0 1 $395,000 $395,000
    2095.0 2 $410,000 $205,000
    2096.25 1 $265,000 $265,000
    2126.25 1 $275,000 $275,000
    2133.75 1 $275,000 $275,000
    2177.5 1 $435,000 $435,000
    2180.0 1 $215,000 $215,000
    2182.5 1 $195,000 $195,000
    2183.75 1 $395,000 $395,000
    2201.25 1 $295,000 $295,000
    2215.0 1 $445,000 $445,000
    2220.0 1 $305,000 $305,000
    2240.0 1 $455,000 $455,000
    2242.5 1 $455,000 $455,000
    2245.0 1 $465,000 $465,000
    2265.0 1 $235,000 $235,000
    2270.0 1 $475,000 $475,000
    2285.0 1 $475,000 $475,000
    2291.34 1 $315,000 $315,000
    2295.0 1 $485,000 $485,000
    2330.52 1 $395,000 $395,000
    2368.08 1 $305,000 $305,000
    2377.5 1 $345,000 $345,000
    2414.76 1 $425,000 $425,000
    2426.25 1 $355,000 $355,000
    2456.7 1 $515,000 $515,000
    2485.0 1 $275,000 $275,000
    2495.0 1 $285,000 $285,000
    2512.5 1 $375,000 $375,000
    2530.0 1 $285,000 $285,000
    2570.0 1 $295,000 $295,000
    2580.0 1 $355,000 $355,000
    2583.75 1 $395,000 $395,000
    2595.0 1 $305,000 $305,000
    2636.25 1 $415,000 $415,000
    2658.75 1 $415,000 $415,000
    2700.88 1 $635,000 $635,000
    2740.0 1 $325,000 $325,000
    2767.5 1 $445,000 $445,000
    2777.5 1 $215,000 $215,000
    2824.38 1 $245,000 $245,000
    2831.25 2 $930,000 $465,000
    2835.0 1 $465,000 $465,000
    2845.0 1 $355,000 $355,000
    2906.25 1 $485,000 $485,000
    2945.0 1 $375,000 $375,000
    2970.0 2 $810,000 $405,000
    2974.16 1 $375,000 $375,000
    3007.5 1 $515,000 $515,000
    3113.75 1 $325,000 $325,000
    3130.0 1 $405,000 $405,000
    3135.0 1 $285,000 $285,000
    3156.25 1 $395,000 $395,000
    3199.38 1 $365,000 $365,000
    3205.0 1 $425,000 $425,000
    3232.5 1 $345,000 $345,000
    3240.0 1 $425,000 $425,000
    3245.0 1 $435,000 $435,000
    3282.5 1 $355,000 $355,000
    3285.0 1 $295,000 $295,000
    3310.0 1 $445,000 $445,000
    3335.0 1 $325,000 $325,000
    3365.0 1 $275,000 $275,000
    3415.0 1 $465,000 $465,000
    3420.0 2 $690,000 $345,000
    3430.0 1 $465,000 $465,000
    3445.0 1 $475,000 $475,000
    3455.0 1 $475,000 $475,000
    3490.0 1 $365,000 $365,000
    3512.5 1 $485,000 $485,000
    3525.0 1 $485,000 $485,000
    3565.0 1 $375,000 $375,000
    3590.0 1 $385,000 $385,000
    3595.0 1 $505,000 $505,000
    3645.0 1 $515,000 $515,000
    3696.9 1 $245,000 $245,000
    3717.5 1 $405,000 $405,000
    3795.0 1 $245,000 $245,000
    3802.5 1 $335,000 $335,000
    3807.5 1 $315,000 $315,000
    3833.75 1 $315,000 $315,000
    3845.0 1 $445,000 $445,000
    3961.2 1 $515,000 $515,000
    3970.0 1 $465,000 $465,000
    4002.0 1 $925,000 $925,000
    4008.75 1 $385,000 $385,000
    4076.25 1 $265,000 $265,000
    4157.5 1 $355,000 $355,000
    4190.0 1 $265,000 $265,000
    4270.3 1 $565,000 $565,000
    4282.5 2 $1,030,000 $515,000
    4380.0 1 $235,000 $235,000
    4390.0 1 $245,000 $245,000
    4458.75 1 $675,000 $675,000
    4460.0 1 $275,000 $275,000
    4462.0 1 $315,000 $315,000
    4490.0 1 $285,000 $285,000
    4492.5 1 $455,000 $455,000
    4530.0 1 $285,000 $285,000
    4570.0 1 $345,000 $345,000
    4923.0 1 $765,000 $765,000
    4985.0 1 $385,000 $385,000
    5005.0 1 $205,000 $205,000
    5095.0 1 $405,000 $405,000
    5220.0 1 $665,000 $665,000
    5295.0 1 $485,000 $485,000
    5362.5 1 $565,000 $565,000
    5437.5 1 $385,000 $385,000
    5470.0 1 $235,000 $235,000
    5540.0 1 $355,000 $355,000
    5590.0 1 $365,000 $365,000
    5595.0 2 $910,000 $455,000
    5600.0 1 $365,000 $365,000
    569.1 1 $215,000 $215,000
    5723.5 2 $550,000 $275,000
    5764.35 1 $415,000 $415,000
    5845.0 1 $475,000 $475,000
    614.4 1 $385,000 $385,000
    6220.0 1 $425,000 $425,000
    6506.61 1 $685,000 $685,000
    6585.0 1 $365,000 $365,000
    6635.0 1 $555,000 $555,000
    6832.5 1 $765,000 $765,000
    7065.0 1 $435,000 $435,000
    737.59 1 $285,000 $285,000
    8570.0 1 $345,000 $345,000
    862.07 1 $185,000 $185,000
    9990.0 1 $405,000 $405,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 734 $262,760,000 $357,984

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 109 $26,945,000 $247,202 $0 2.88%
    40-60% 281 $92,475,000 $329,093 $0 2.92%
    60-80% 284 $118,300,000 $416,549 $0 3.21%
    80-100% 59 $24,895,000 $421,949 $0 3.21%
    Under 20% 1 $145,000 $145,000 $0 2.50%