Shelter Mortgage Company Rates, Fees & Info
SPRINGFIELD, ILLEI: 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 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.
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Originations
855Origination Dollar Volume (All Markets)
$218,265,000Awards
SHELTER MORTGAGE COMPANY - 2021
SHELTER MORTGAGE COMPANY is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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% |
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.
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Product Mix
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
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
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
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
2021 saw Shelter Mortgage Company place emphasis on $200k-400k loans with 646 originations, totaling $169,390,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.55%
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 origination75.79%
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 |