Shelter Mortgage Company Rates, Fees & Info

SPRINGFIELD, IL

LEI: 549300PTX8QF0BPQ5U19

Tax ID: 39-1856165

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Mortgage Data

Review & Overview

Shelter Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Shelter Mortgage Company has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Port St. Lucie, Palm Bay, Sebastian, Deltona, and Lakeland among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Shelter Mortgage Company 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. Shelter Mortgage Company 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 6.95% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.99% 3/28/24
30 Year FHA Purchase 7.68% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.60% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 7.18% 3/28/24
15 Year Conventional Purchase 6.09% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 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.

Shelter Mortgage Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from Shelter Mortgage Company. 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

855

Origination Dollar Volume (All Markets)

$218,265,000

Awards

SHELTER MORTGAGE COMPANY 30 Year Conventional Loans bronze SHELTER MORTGAGE COMPANY FHA Loans bronze SHELTER MORTGAGE COMPANY 30 Year Conventional Loans silver SHELTER MORTGAGE COMPANY 30 Year Conventional Loans silver
Show all (4) 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
PORT ST. LUCIE, FL (FHA|USDA|VA) 387 $97,235,000 $251,253 $7,053 3.19%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 298 $83,690,000 $280,839 $6,468 3.17%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 39 $8,425,000 $216,026 $4,682 3.11%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 37 $8,065,000 $217,973 $6,144 2.98%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 35 $6,545,000 $187,000 $6,319 3.18%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 11 $2,935,000 $266,818 $6,173 3.01%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,740,000 $290,000 $6,445 3.04%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $1,625,000 $232,143 $4,652 3.14%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $1,335,000 $267,000 $7,547 3.18%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $1,280,000 $213,333 $8,527 2.81%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,255,000 $251,000 $5,521 3.30%
OCALA, FL (FHA|USDA|VA) 5 $1,155,000 $231,000 $6,617 3.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 5 $1,085,000 $217,000 $3,833 3.03%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $580,000 $290,000 $8,419 3.25%
Outside of Metro Areas 3 $435,000 $145,000 $5,015 3.42%
Arcadia, FL (FHA|USDA|VA) 1 $345,000 $345,000 $4,900 3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $7,507 2.88%
Alexander City, AL (FHA|USDA|VA) 1 $195,000 $195,000 $2,218 2.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $135,000 $135,000 $4,569 4.50%
Shelter Mortgage Company's top markets include Port St. Lucie, Palm Bay, Sebastian, Deltona, and Lakeland among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

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

    HARVESTERS FEDERAL CREDIT UNION
    Similarity Rank: 210
    Gulf Winds Credit Union
    Similarity Rank: 324
    KELLEY MORTGAGE, LLC
    Similarity Rank: 336
    Suncoast Credit Union
    Similarity Rank: 429
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 476
    Eglin Federal Credit Union
    Similarity Rank: 636
    First Vision Bank of Tennessee
    Similarity Rank: 657
    US COMMUNITY
    Similarity Rank: 686
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 952
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 952

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 414 $100,010,000 $241,570 $4,353 3.19%
    FHA 339 $83,935,000 $247,596 $8,755 3.17%
    VA 101 $34,135,000 $337,970 $8,632 3.02%
    USDA 1 $185,000 $185,000 $5,121 3.13%

    For 2021, Shelter Mortgage Company's most frequently originated type of loan was Conventional, with 414 originations. Their 2nd most popular type was FHA, with 339 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 777 $191,135,000 $245,991 $6,490 3.16%
    Refi 36 $9,690,000 $269,167 $3,496 3.04%
    Cash Out Refi 23 $7,455,000 $324,130 $7,520 3.30%
    Other 19 $9,985,000 $525,526 $16,093 3.09%

    For 2021, Shelter Mortgage Company's most frequently cited loan purpose was Home Purchase, with 777 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 818 $204,930,000 $250,526 $6,474 3.17%
    Other 17 $9,135,000 $537,353 $16,652 3.04%
    15 Year 13 $2,585,000 $198,846 $3,299 2.65%
    20 Year 7 $1,615,000 $230,714 $3,567 2.99%

    For 2021, Shelter Mortgage Company's most frequently cited loan duration was 30 Year, with 818 originations. The 2nd most popular length was Other, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 447 $110,025,000 $246,141
    $1k-2k 259 $65,945,000 $254,614
    $2k-3k 60 $13,990,000 $233,167
    $3k-4k 38 $9,640,000 $253,684
    $5k+ 29 $13,315,000 $459,138
    $4k-5k 22 $5,350,000 $243,182

    Shelter Mortgage Company's average total fees were $6,474, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 447 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 465 $118,615,000 $255,086
    2.5-3% 344 $86,820,000 $252,384
    <2.5% 27 $7,365,000 $272,778
    4-5% 18 $4,720,000 $262,222
    5-6% 1 $745,000 $745,000

    During 2021, Shelter Mortgage Company's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 465 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 646 $169,390,000 $262,214 $6,816 3.16%
    $100k-200k 167 $28,215,000 $168,952 $4,587 3.16%
    $400k-600k 19 $8,855,000 $466,053 $9,154 3.10%
    $600k-1MM 14 $10,210,000 $729,286 $18,657 3.23%
    $100,000 or less 8 $590,000 $73,750 $3,472 3.13%
    $1MM+ 1 $1,005,000 $1,005,000 $14,909 2.75%

    2021 saw Shelter Mortgage Company place emphasis on $200k-400k loans with 646 originations, totaling $169,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 322 $76,460,000 $237,453 $6,409 3.15%
    $75k-100k 193 $49,975,000 $258,938 $6,752 3.19%
    $50k or less 143 $28,645,000 $200,315 $6,180 3.10%
    $100k-150k 131 $37,015,000 $282,557 $6,319 3.17%
    $150k-250k 51 $19,545,000 $383,235 $9,044 3.27%
    $250k+ 12 $5,720,000 $476,667 $8,105 3.40%

    Shelter Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 322 originations. The second most popular income band? $75k-100k, with 193 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 122 $32,920,000 $269,836 $6,511 3.15%
    50-60% 120 $32,420,000 $270,167 $8,981 3.13%
    20-30% 103 $26,775,000 $259,951 $5,558 3.12%
    44% 51 $11,815,000 $231,667 $6,356 3.15%
    42% 40 $10,020,000 $250,500 $6,238 3.15%
    43% 38 $10,580,000 $278,421 $7,738 3.19%
    47% 37 $9,105,000 $246,081 $6,691 3.18%
    38% 37 $8,715,000 $235,541 $5,967 3.25%
    49% 36 $8,620,000 $239,444 $5,829 3.15%
    36% 33 $7,965,000 $241,364 $5,743 3.13%
    41% 33 $8,055,000 $244,091 $6,732 3.22%
    48% 33 $9,875,000 $299,242 $7,953 3.28%
    46% 32 $7,910,000 $247,188 $6,533 3.17%
    <20% 30 $6,880,000 $229,333 $4,220 3.04%
    39% 29 $7,395,000 $255,000 $5,149 3.28%
    40% 28 $6,660,000 $237,857 $6,559 3.22%
    37% 27 $6,065,000 $224,630 $5,627 3.17%
    45% 25 $6,105,000 $244,200 $6,295 3.21%

    Shelter Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 122 originations. The next most common DTI ratio? 50-60%, with 120 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 496 $127,450,000 $256,956 $6,273 3.14%
    Not provided 194 $46,760,000 $241,031 $6,637 3.20%
    Black 146 $38,590,000 $264,315 $7,421 3.19%
    Asian 12 $3,920,000 $326,667 $9,302 3.18%
    American Indian 5 $1,135,000 $227,000 $7,785 3.00%
    Native Hawaiian or Islander 2 $410,000 $205,000 $6,931 2.99%

    Approval Rates

    Total approvals of all applications
    99.55%

    Shelter Mortgage Company 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
    75.79%

    Shelter Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 855 $218,265,000 $255,281

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    855 $218,265,000 $255,281

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $1,385,000 $106,538 $3,105 2.98%
    40-60% 41 $7,045,000 $171,829 $4,144 3.00%
    60-80% 121 $30,775,000 $254,339 $4,855 3.18%
    80-100% 659 $172,445,000 $261,677 $6,951 3.18%
    Over 100% 20 $6,540,000 $327,000 $13,219 2.97%
    Under 20% 1 $75,000 $75,000 $3,955 2.99%