Affinity Mortgage Rates, Fees & Info
Des Moines, IALEI: 549300Q0QG1CZF1H4O06
Tax ID: 42-0794732
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Mortgage Data
Review & Overview
Affinity is a smaller mortgage company specializing in Home Improvement loans. Affinity has a high proportion of conventional loans. Their top (well, only) market is Des Moines.Affinity has an above average approval rate when compared to the average across all lenders.
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Originations
10Origination Dollar Volume (All Markets)
$370,000Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 10 | $370,000 | $37,000 | $450 | 5.02% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 7 | $245,000 | $35,000 | $450 | 5.03% |
| HELOC | 3 | $125,000 | $41,667 | n/a | 5.00% |
For 2018, Affinity's most frequently originated type of loan was Conventional, with 7 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 10 | $370,000 | $37,000 | $450 | 5.02% |
For 2018, Affinity's most frequently cited loan purpose was Home Improvement, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 6 | $220,000 | $36,667 | $450 | 5.20% |
| 15 Year | 3 | $125,000 | $41,667 | $0 | 5.00% |
| 5 Year | 1 | $25,000 | $25,000 | $450 | 3.99% |
For 2018, Affinity's most frequently cited loan duration was Other, with 6 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $105,000 | $35,000 |
Affinity's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 3 | $55,000 | $18,333 |
| 4-5% | 3 | $125,000 | $41,667 |
| 5-6% | 3 | $165,000 | $55,000 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2018, Affinity's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 3 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 10 | $370,000 | $37,000 | $450 | 5.02% |
2018 saw Affinity place emphasis on $100,000 or less loans with 10 originations, totaling $370,000 in origination value.
Applicant Income
Affinity lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1 | $15,000 | $15,000 | $0 | 3.49% |
| 38% | 1 | $35,000 | $35,000 | $0 | 5.00% |
| 47% | 1 | $15,000 | $15,000 | $0 | 3.99% |
Affinity lent most frequently to those with DTI ratios of 20-30%, with 1 originations. The next most common DTI ratio? 38%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not provided | 7 | $255,000 | $36,429 | $450 | 4.60% |
| White | 3 | $115,000 | $38,333 | $450 | 5.99% |
Approval Rates
Total approvals of all applications100.00%
Affinity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10 | $370,000 | $37,000 |