Iapprove Lending Mortgage Rates, Fees & Info
SANTA ANA, CALEI: 549300G3FCPL48R4HU28
Tax ID: 33-1131083
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Iapprove Lending is a smaller mortgage company specializing in Home Purchase and Refi loans. Iapprove Lending has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Washington, Sacramento, Baltimore, and Riverside among others. We have data for 9 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.48% | 4/28/24 |
| 30 Year Cash-out Refi | 7.43% | 4/28/24 |
| 15 Year Conventional Refi | 5.88% | 4/28/24 |
| 15 Year Cash-out Refi | 5.88% | 4/28/24 |
| 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
40Origination Dollar Volume (All Markets)
$17,350,000Top 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) | 15 | $7,335,000 | $489,000 | $0 | 3.99% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 15 | $6,185,000 | $412,333 | $0 | 4.93% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $0 | 6.19% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 5.50% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $0 | 5.75% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 2.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 5.38% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.38% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 3.25% |
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.
Similarity Rank: 77
Similarity Rank: 236
Similarity Rank: 248
Similarity Rank: 370
Similarity Rank: 450
Similarity Rank: 544
Similarity Rank: 609
Similarity Rank: 648
Similarity Rank: 707
Similarity Rank: 720
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $17,350,000 | $433,750 | $0 | 4.59% |
For 2022, Iapprove Lending's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 25 | $11,395,000 | $455,800 | $0 | 5.00% |
| Refi | 11 | $4,375,000 | $397,727 | $0 | 3.51% |
| Cash Out Refi | 4 | $1,580,000 | $395,000 | $0 | 4.97% |
For 2022, Iapprove Lending's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 39 | $17,105,000 | $438,590 | $0 | 4.64% |
| 15 Year | 1 | $245,000 | $245,000 | $0 | 2.50% |
For 2022, Iapprove Lending's most frequently cited loan duration was 30 Year, with 39 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 5 | $2,525,000 | $505,000 |
| $<1k | 2 | $490,000 | $245,000 |
| $4k-5k | 2 | $940,000 | $470,000 |
| $3k-4k | 1 | $355,000 | $355,000 |
Iapprove Lending's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 5 originations.
Interest Rates
During 2022, Iapprove Lending's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 11 originations.
Loan Sizing
2022 saw Iapprove Lending place emphasis on $200k-400k loans with 15 originations, totaling $4,625,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 39 | $16,995,000 | $435,769 | $0 | 4.54% |
| $50k or less | 1 | $355,000 | $355,000 | $0 | 6.63% |
Iapprove Lending lent most frequently to those with incomes in the $250k+ range, with 39 originations. The second most popular income band? $50k or less, with 1 originations.
Applicant Debt to Income Ratio
Iapprove Lending lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 49%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Asian | 35 | $15,765,000 | $450,429 | $0 | 4.63% |
| White | 4 | $1,100,000 | $275,000 | $0 | 4.53% |
| Black | 1 | $485,000 | $485,000 | $0 | 3.38% |
Approval Rates
Total approvals of all applications100.00%
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 origination52.50%
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 |
|---|---|---|---|
| 1095.0 | 4 | $1,860,000 | $465,000 |
| 1390.0 | 1 | $265,000 | $265,000 |
| 1690.0 | 31 | $13,345,000 | $430,484 |
| 1940.0 | 4 | $1,880,000 | $470,000 |