Snapfi Mortgage Rates, Fees & Info

Redding, CA

LEI: 549300UM5S3HZLZHVP89

Tax ID: 77-0563974

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Mortgage Data

Review & Overview

Snapfi is a smaller mortgage company specializing in Home Purchase and Refi loans. Snapfi has a high proportion of conventional loans. They have an average proportion of FHA 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: San Francisco, Sacramento, San Jose, Stockton, and Phoenix among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Snapfi 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. Snapfi 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
Home Equity Line of Credit (HELOC) 6.27% 3/24/24
30 Year Conventional Purchase 6.83% 3/24/24
30 Year Conventional Refi 6.38% 3/24/24
30 Year Cash-out Refi 6.76% 3/24/24
30 Year FHA Purchase 7.28% 3/24/24
30 Year VA Purchase 6.14% 3/24/24
15 Year Conventional Purchase 5.73% 3/24/24
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.

Snapfi Mortgage Calculator






Your Estimates

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

This is not an official calculator from Snapfi. 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

133

Origination Dollar Volume (All Markets)

$46,555,000

Awards

SNAPFI 30 Year Conventional Loans silver SNAPFI FHA Loans bronze
Show all (2) 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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 23 $12,375,000 $538,043 $8,178 4.97%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 31 $10,225,000 $329,839 $4,684 4.47%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 21 $9,405,000 $447,857 $4,147 4.99%
STOCKTON, CA (FHA|USDA|VA) 19 $4,665,000 $245,526 $4,769 4.68%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 13 $3,355,000 $258,077 $6,322 4.31%
MODESTO, CA (FHA|USDA|VA) 4 $1,420,000 $355,000 $5,544 4.91%
VALLEJO, CA (FHA|USDA|VA) 4 $1,170,000 $292,500 $4,366 4.50%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $900,000 $450,000 $9,696 4.56%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $880,000 $440,000 $14,075 4.38%
SALINAS, CA (FHA|USDA|VA) 4 $710,000 $177,500 $4,007 4.21%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $535,000 $178,333 $4,617 5.38%
Outside of Metro Areas 2 $260,000 $130,000 $4,381 4.38%
MERCED, CA (FHA|USDA|VA) 1 $245,000 $245,000 $5,823 5.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $215,000 $215,000 $4,169 4.75%
VISALIA, CA (FHA|USDA|VA) 3 $195,000 $65,000 $3,127 3.08%
Snapfi's top markets include San Francisco, Sacramento, San Jose, Stockton, and Phoenix among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Similar Lenders

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

    SANTA CLARA COUNTY
    Similarity Rank: 20
    Valley First Credit Union
    Similarity Rank: 187
    LBS FINANCIAL
    Similarity Rank: 210
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 216
    Great Basin Federal Credit Union
    Similarity Rank: 220
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 255
    LA Financial Federal Credit Union
    Similarity Rank: 321
    Nevada Mortgage Inc.
    Similarity Rank: 363
    Christian Community Credit Union
    Similarity Rank: 515

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $33,350,000 $333,500 $4,371 4.67%
    FHA 20 $7,840,000 $392,000 $10,176 4.50%
    VA 8 $3,870,000 $483,750 $8,779 4.34%
    Reverse Mortgage 2 $870,000 $435,000 $0 7.12%
    FHA 2 $590,000 $295,000 $0 3.28%
    HELOC 1 $35,000 $35,000 n/a 6.49%

    For 2018, Snapfi's most frequently originated type of loan was Conventional, with 100 originations. Their 2nd most popular type was FHA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 87 $30,155,000 $346,609 $5,851 4.53%
    Refi 43 $15,185,000 $353,140 $4,784 4.87%
    Cash Out Refi 3 $1,215,000 $405,000 $7,509 4.92%

    For 2018, Snapfi's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 123 $43,495,000 $353,618 $5,599 4.66%
    Other 5 $1,705,000 $341,000 $5,823 5.16%
    15 Year 4 $1,220,000 $305,000 $4,853 4.00%
    20 Year 1 $135,000 $135,000 $3,730 4.25%

    For 2018, Snapfi's most frequently cited loan duration was 30 Year, with 123 originations. The 2nd most popular length was Other, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 38 $15,510,000 $408,158
    $<1k 28 $4,520,000 $161,429
    $2k-3k 20 $6,340,000 $317,000
    $5k+ 13 $7,175,000 $551,923
    $4k-5k 9 $3,525,000 $391,667
    $3k-4k 5 $1,925,000 $385,000

    Snapfi's average total fees were $5,599, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 77 $30,235,000 $392,662
    5-6% 27 $11,435,000 $423,519
    <2.5% 10 $370,000 $37,000
    3-4% 10 $3,470,000 $347,000
    6-7% 3 $505,000 $168,333
    7-8% 1 $495,000 $495,000

    During 2018, Snapfi's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 50 $15,360,000 $307,200 $5,833 4.76%
    $400k-600k 35 $16,045,000 $458,429 $5,141 4.80%
    $100,000 or less 16 $240,000 $15,000 $396 3.07%
    $100k-200k 16 $2,270,000 $141,875 $4,445 4.87%
    $600k-1MM 13 $8,485,000 $652,692 $10,675 4.84%
    $1MM+ 3 $4,155,000 $1,385,000 $14,023 5.13%

    2018 saw Snapfi place emphasis on $200k-400k loans with 50 originations, totaling $15,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 37 $10,925,000 $295,270 $5,282 4.41%
    $100k-150k 27 $10,205,000 $377,963 $5,468 4.77%
    $150k-250k 23 $10,165,000 $441,957 $7,129 4.80%
    $50k or less 20 $4,850,000 $242,500 $4,389 4.59%
    $50k-75k 16 $3,360,000 $210,000 $3,918 4.91%
    $250k+ 10 $7,050,000 $705,000 $7,637 4.64%

    Snapfi lent most frequently to those with incomes in the $75k-100k range, with 37 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 18 $7,840,000 $435,556 $5,325 4.73%
    30-36% 14 $5,960,000 $425,714 $6,758 4.84%
    <20% 12 $1,920,000 $160,000 $3,041 3.75%
    50-60% 11 $3,785,000 $344,091 $5,211 4.38%
    44% 10 $1,710,000 $171,000 $2,727 3.78%
    >60% 8 $2,920,000 $365,000 $5,662 5.05%
    43% 8 $2,610,000 $326,250 $6,806 5.06%
    46% 8 $3,050,000 $381,250 $5,434 4.58%
    49% 7 $3,665,000 $523,571 $5,757 4.93%
    37% 7 $2,945,000 $420,714 $7,377 5.02%
    42% 6 $1,630,000 $271,667 $4,893 5.37%
    41% 4 $1,230,000 $307,500 $4,328 4.91%
    36% 4 $870,000 $217,500 $3,088 4.67%
    40% 3 $1,315,000 $438,333 $5,760 4.71%
    38% 3 $1,385,000 $461,667 $11,703 4.00%
    39% 3 $1,265,000 $421,667 $6,052 4.83%
    45% 3 $935,000 $311,667 $6,887 4.63%
    47% 2 $920,000 $460,000 $12,450 5.25%
    48% 2 $600,000 $300,000 $7,456 4.81%

    Snapfi lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 71 $22,575,000 $317,958 $5,250 4.53%
    Asian 43 $17,055,000 $396,628 $6,436 4.70%
    Black 9 $3,345,000 $371,667 $4,023 4.99%
    Not applicable 6 $2,130,000 $355,000 $5,607 5.00%
    Not provided 4 $1,450,000 $362,500 $5,337 4.97%

    Approval Rates

    Total approvals of all applications
    96.08%

    Snapfi 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
    89.47%

    Snapfi has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 133 $46,555,000 $350,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 133 $46,555,000 $350,038

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $4,335,000 $333,462 $4,534 4.97%
    40-60% 19 $7,715,000 $406,053 $4,457 4.84%
    60-80% 27 $10,655,000 $394,630 $5,243 4.82%
    80-100% 57 $23,465,000 $411,667 $7,568 4.75%
    Under 20% 17 $385,000 $22,647 $583 3.19%