Direct Mortgage Loans Rates, Fees & Info
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Mortgage Data
Review & Overview
Direct Mortgage Loans is a smaller mortgage company specializing in Home Purchase loans. Direct Mortgage Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA 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: Baltimore, Phoenix, Washington, Charleston, and Chicago among others. We have data for 144 markets. (Some data included below & more in-depth data is available with an active subscription.)Direct Mortgage Loans 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. Direct Mortgage Loans is typically an average 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 | 7.18% | 4/5/25 |
| 30 Year Conventional Refi | 6.90% | 4/5/25 |
| 30 Year Cash-out Refi | 7.61% | 4/5/25 |
| 30 Year FHA Purchase | 7.53% | 4/5/25 |
| 30 Year FHA Refi | 7.07% | 4/5/25 |
| 30 Year VA Purchase | 6.78% | 4/5/25 |
| 30 Year VA Refi | 6.46% | 4/5/25 |
| 30 Year USDA Purchase | 7.34% | 4/5/25 |
| 15 Year Conventional Purchase | 6.18% | 4/5/25 |
| 15 Year Conventional Refi | 6.43% | 4/5/25 |
| 15 Year Cash-out Refi | 6.43% | 4/5/25 |
| 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. | ||
Direct Mortgage Loans Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Direct Mortgage Loans. 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
2,630Origination Dollar Volume (All Markets)
$841,170,000Awards
DIRECT MORTGAGE LOANS - 2024
DIRECT MORTGAGE LOANS is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Direct Mortgage Loans's average 30 year fixed mortgage rate was
6.79%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.24%.
Relative Fees (Closing Costs)
Direct Mortgage Loans's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,400.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 616 | $208,370,000 | $338,263 | $10,021 | 6.79% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 245 | $94,735,000 | $386,673 | $11,056 | 6.91% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 218 | $91,880,000 | $421,468 | $11,037 | 6.85% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 236 | $76,610,000 | $324,619 | $11,223 | 6.59% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 276 | $66,330,000 | $240,326 | $10,624 | 6.76% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 140 | $50,700,000 | $362,143 | $10,782 | 7.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 107 | $32,195,000 | $300,888 | $9,994 | 6.67% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 61 | $16,535,000 | $271,066 | $10,162 | 6.77% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 60 | $16,380,000 | $273,000 | $11,157 | 6.96% |
| MOBILE, AL (FHA|USDA|VA) | 58 | $11,370,000 | $196,034 | $8,176 | 7.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 27 | $10,775,000 | $399,074 | $10,786 | 6.67% |
| Outside of Metro Areas | 43 | $10,465,000 | $243,372 | $8,917 | 6.79% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 45 | $10,405,000 | $231,222 | $9,671 | 6.88% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 30 | $7,750,000 | $258,333 | $8,254 | 6.86% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $7,425,000 | $495,000 | $14,969 | 6.68% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 24 | $7,270,000 | $302,917 | $8,783 | 6.82% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 24 | $7,230,000 | $301,250 | $11,025 | 6.66% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 17 | $5,805,000 | $341,471 | $9,871 | 6.60% |
| COLUMBUS, OH (FHA|USDA|VA) | 20 | $5,790,000 | $289,500 | $7,084 | 6.43% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 15 | $5,395,000 | $359,667 | $13,796 | 6.60% |
| Scottsburg, IN (FHA|USDA|VA) | 25 | $4,705,000 | $188,200 | $7,791 | 6.71% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 11 | $4,315,000 | $392,273 | $9,603 | 7.08% |
| Seymour, IN (FHA|USDA|VA) | 18 | $3,840,000 | $213,333 | $10,972 | 6.77% |
| Show Low, AZ (FHA|USDA|VA) | 7 | $3,135,000 | $447,857 | $12,018 | 7.57% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $2,900,000 | $483,333 | $12,743 | 7.02% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 8 | $2,690,000 | $336,250 | $12,336 | 6.53% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 9 | $2,615,000 | $290,556 | $9,394 | 6.97% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 12 | $2,480,000 | $206,667 | $8,877 | 7.14% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 5 | $2,375,000 | $475,000 | $12,754 | 6.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 6 | $2,350,000 | $391,667 | $12,884 | 6.44% |
| LOUISVILLE, KY (FHA|USDA|VA) | 11 | $2,225,000 | $202,273 | $10,265 | 6.42% |
| TUCSON, AZ (FHA|USDA|VA) | 6 | $1,840,000 | $306,667 | $9,610 | 7.48% |
| North Vernon, IN (FHA|USDA|VA) | 6 | $1,550,000 | $258,333 | $11,177 | 6.85% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,530,000 | $382,500 | $8,975 | 6.81% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $1,485,000 | $495,000 | $17,153 | 6.83% |
| KANKAKEE, IL (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $10,110 | 7.06% |
| Cambridge, MD (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $9,082 | 6.60% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $9,609 | 7.12% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $10,253 | 6.97% |
| COLUMBIA, SC (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $10,496 | 6.35% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $7,323 | 7.21% |
| Madison, IN (FHA|USDA|VA) | 5 | $1,295,000 | $259,000 | $12,416 | 6.85% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $7,184 | 6.91% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $8,627 | 7.03% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $8,383 | 6.72% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 5 | $1,175,000 | $235,000 | $11,611 | 6.67% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $6,465 | 7.00% |
| Easton, MD (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $9,199 | 7.19% |
| Peru, IN (FHA|USDA|VA) | 9 | $1,115,000 | $123,889 | $4,918 | 6.56% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $1,050,000 | $262,500 | $11,799 | 6.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $1,025,000 | $1,025,000 | $54,930 | 8.00% |
| Payson, AZ (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $7,795 | 6.66% |
| Orangeburg, SC (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $7,413 | 6.44% |
| NEW BERN, NC (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $9,091 | 7.91% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $13,807 | 7.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $12,261 | 6.31% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $6,459 | 6.81% |
| GETTYSBURG, PA (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $7,894 | 6.28% |
| Mount Vernon, OH (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $6,388 | 6.69% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $7,407 | 6.21% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $3,957 | 6.50% |
| Key West, FL (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $7,822 | 6.99% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $19,541 | 7.25% |
| Sidney, OH (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $9,490 | 7.04% |
| DOVER, DE (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $14,433 | 6.44% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $8,634 | 6.21% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $12,978 | 7.38% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $12,732 | 6.13% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $38,215 | 8.88% |
| OCALA, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $13,389 | 7.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $10,403 | 6.06% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $8,185 | 6.31% |
| Huntingdon, PA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $6,738 | 7.67% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,796 | 7.56% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $9,233 | 6.50% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $9,267 | 5.13% |
| Pahrump, NV (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,765 | 7.13% |
| Greenville, OH (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $8,856 | 6.94% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $5,819 | 7.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $7,483 | 6.44% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $14,016 | 6.00% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $16,466 | 6.12% |
| New Castle, IN (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $9,994 | 6.87% |
| Palatka, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $9,191 | 6.63% |
| READING, PA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $8,682 | 7.62% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $21,997 | 6.13% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $22,798 | 5.13% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $14,743 | 7.13% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $10,081 | 6.38% |
| Gillette, WY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $10,558 | 7.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $8,157 | 7.31% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $12,655 | 6.13% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $13,657 | 5.99% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $10,789 | 7.49% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $11,125 | 7.00% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $7,347 | 6.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $14,741 | 6.75% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 7.25% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $22,263 | 5.50% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,906 | 7.00% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $9,859 | 6.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $15,748 | 6.00% |
| Marion, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,714 | 6.49% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $5,823 | 7.00% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $12,941 | 7.13% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,192 | 7.13% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,317 | 6.13% |
| Logansport, IN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $5,988 | 6.88% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,820 | 7.13% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,950 | 7.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,570 | 6.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $15,349 | 7.00% |
| Henderson, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,740 | 6.13% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $13,349 | 6.13% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,984 | 6.63% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,054 | 6.99% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,667 | 6.88% |
| Macomb, IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,243 | 6.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,238 | 7.13% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,675 | 6.63% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $10,087 | 6.50% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,151 | 7.38% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,287 | 7.13% |
| Plymouth, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,416 | 7.38% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,342 | 6.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,406 | 6.13% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $6,060 | 6.56% |
| Wooster, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 6.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,313 | 6.63% |
| Sanford, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,617 | 7.13% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,669 | 6.99% |
| ERIE, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,697 | 6.63% |
| Seneca, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,163 | 6.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $12,284 | 6.13% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,542 | 6.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $6,079 | 9.44% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,700 | 7.63% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $8,947 | 6.00% |
| New Castle, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,947 | 6.63% |
| Jasper, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,055 | 7.13% |
| Beeville, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,068 | 6.88% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,143 | 6.88% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,915 | 7.25% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,493 | 6.38% |
Similar Lenders
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Product Mix
For 2024, Direct Mortgage Loans's most frequently originated type of loan was Conventional, with 1,507 originations. Their 2nd most popular type was FHA, with 857 originations.
Loan Reason
For 2024, Direct Mortgage Loans's most frequently cited loan purpose was Home Purchase, with 2,343 originations. The 2nd most popular reason was Home Improvement, with 135 originations.
Loan Duration/Length
For 2024, Direct Mortgage Loans's most frequently cited loan duration was 30 Year, with 2,593 originations. The 2nd most popular length was 20 Year, with 18 originations.
Origination Fees/Closing Costs
Direct Mortgage Loans's average total fees were $10,400, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,036 originations.
Interest Rates
During 2024, Direct Mortgage Loans's average interest rate for loans was 6.79%, while their most frequently originated rate bucket for loans was 6-7%, with 1,497 originations.
Loan Sizing
2024 saw Direct Mortgage Loans place emphasis on $200k-400k loans with 1,425 originations, totaling $415,715,000 in origination value.
Applicant Income
Direct Mortgage Loans lent most frequently to those with incomes in the $100k-150k range, with 634 originations. The second most popular income band? $75k-100k, with 577 originations.
Applicant Debt to Income Ratio
Direct Mortgage Loans lent most frequently to those with DTI ratios of 30-36%, with 370 originations. The next most common DTI ratio? 20-30%, with 294 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.40%
Direct Mortgage Loans has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.48%
Direct Mortgage Loans has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,630 | $841,170,000 | $319,837 |