Snapfi Mortgage Rates, Fees & Info

Redding, CA

LEI: 549300UM5S3HZLZHVP89

Tax ID: 77-0563974

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.) Snapfi has a low ratio of conventional loans. Their top markets by origination volume include: San Francisco, San Jose, Sacramento, Stockton, and Modesto among others. We have data for 26 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% 4/18/24
    30 Year Conventional Purchase 6.83% 4/18/24
    30 Year Conventional Refi 6.38% 4/18/24
    30 Year Cash-out Refi 6.76% 4/18/24
    30 Year FHA Purchase 7.28% 4/18/24
    30 Year VA Purchase 6.14% 4/18/24
    15 Year Conventional Purchase 5.73% 4/18/24
    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

    260

    Origination Dollar Volume (All Markets)

    $102,990,000

    Awards

    SNAPFI 30 Year Conventional Loans silver SNAPFI FHA Loans gold
    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) 50 $30,810,000 $616,200 $6,605 4.42%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 58 $26,410,000 $455,345 $5,175 4.23%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 51 $17,405,000 $341,275 $3,673 4.03%
    STOCKTON, CA (FHA|USDA|VA) 31 $8,895,000 $286,935 $6,098 3.54%
    MODESTO, CA (FHA|USDA|VA) 16 $3,680,000 $230,000 $5,655 3.77%
    VALLEJO, CA (FHA|USDA|VA) 5 $1,865,000 $373,000 $7,442 4.13%
    SALINAS, CA (FHA|USDA|VA) 3 $1,775,000 $591,667 $7,811 5.00%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 6 $1,760,000 $293,333 $3,889 4.21%
    FRESNO, CA (FHA|USDA|VA) 11 $1,705,000 $155,000 $4,388 3.56%
    Outside of Metro Areas 6 $1,280,000 $213,333 $6,688 4.33%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $910,000 $455,000 $7,211 3.81%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $850,000 $425,000 $5,076 4.19%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $705,000 $705,000 $1,955 4.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $695,000 $231,667 $4,270 4.46%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $660,000 $330,000 $2,706 4.19%
    VISALIA, CA (FHA|USDA|VA) 2 $560,000 $280,000 $3,921 4.38%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $480,000 $240,000 $2,014 5.06%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $465,000 $465,000 $2,940 4.13%
    NAPA, CA (FHA|USDA|VA) 1 $425,000 $425,000 $6,635 5.00%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $375,000 $375,000 $2,886 4.50%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $265,000 $265,000 $4,331 4.88%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $255,000 $255,000 $8,115 3.88%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $225,000 $225,000 $18,904 4.13%
    Sonora, CA (FHA|USDA|VA) 1 $215,000 $215,000 $3,618 3.50%
    RENO, NV (FHA|USDA|VA) 1 $185,000 $185,000 $5,905 4.00%
    TUCSON, AZ (FHA|USDA|VA) 1 $135,000 $135,000 $7,008 6.13%
    Snapfi's top markets include San Francisco, San Jose, Sacramento, Stockton, and Modesto among others.

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

    Christian Community Credit Union
    Similarity Rank: 220
    SIMPLIFI MORTGAGE, LLC
    Similarity Rank: 288
    COMMUNITY FIRST CREDIT UNION
    Similarity Rank: 290
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 318
    Great Basin Federal Credit Union
    Similarity Rank: 360
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 368
    Nevada Mortgage Inc.
    Similarity Rank: 401
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 546

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 198 $80,120,000 $404,646 $4,255 4.02%
    FHA 42 $14,950,000 $355,952 $10,637 4.03%
    HELOC 8 $1,250,000 $156,250 n/a 6.46%
    VA 7 $3,695,000 $527,857 $3,934 3.55%
    FHA 2 $1,510,000 $755,000 $0 5.22%
    Conventional 1 $405,000 $405,000 $1,185 4.75%
    VA 1 $605,000 $605,000 $0 4.75%
    Reverse Mortgage 1 $455,000 $455,000 $0 6.15%

    For 2019, Snapfi's most frequently originated type of loan was Conventional, with 198 originations. Their 2nd most popular type was FHA, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 130 $45,120,000 $347,077 $6,359 3.99%
    Refi 130 $57,870,000 $445,154 $4,217 4.22%

    For 2019, Snapfi's most frequently cited loan purpose was Home Purchase, with 130 originations. The 2nd most popular reason was Refi, with 130 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 251 $99,755,000 $397,430 $5,341 4.06%
    Other 8 $2,860,000 $357,500 $115 5.54%
    15 Year 1 $375,000 $375,000 $5,046 3.88%

    For 2019, Snapfi's most frequently cited loan duration was 30 Year, with 251 originations. The 2nd most popular length was Other, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 92 $39,130,000 $425,326
    $<1k 50 $13,760,000 $275,200
    $2k-3k 29 $10,825,000 $373,276
    $5k+ 26 $14,510,000 $558,077
    $4k-5k 9 $3,225,000 $358,333
    $3k-4k 6 $2,020,000 $336,667

    Snapfi's average total fees were $5,341, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 92 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 112 $43,600,000 $389,286
    4-5% 108 $47,930,000 $443,796
    5-6% 13 $4,905,000 $377,308
    <2.5% 11 $105,000 $9,545
    6-7% 10 $6,250,000 $625,000
    2.5-3% 4 $50,000 $12,500
    7-8% 1 $45,000 $45,000
    Over 8% 1 $105,000 $105,000

    During 2019, Snapfi's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 112 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 110 $33,200,000 $301,818 $5,302 4.17%
    $400k-600k 69 $32,685,000 $473,696 $5,177 4.08%
    $600k-1MM 36 $25,120,000 $697,778 $7,587 4.30%
    $100,000 or less 21 $345,000 $16,429 $343 2.59%
    $100k-200k 17 $2,635,000 $155,000 $5,170 4.81%
    $1MM+ 7 $9,005,000 $1,286,429 $10,075 5.31%

    2019 saw Snapfi place emphasis on $200k-400k loans with 110 originations, totaling $33,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $29,675,000 $395,667 $6,194 4.21%
    $150k-250k 62 $28,190,000 $454,677 $5,181 4.23%
    $50k-75k 43 $10,945,000 $254,535 $4,956 3.76%
    $75k-100k 43 $13,285,000 $308,953 $4,277 3.72%
    $250k+ 23 $16,435,000 $714,565 $6,096 4.80%
    $50k or less 13 $4,255,000 $327,308 $4,288 4.17%

    Snapfi lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $150k-250k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 51 $21,165,000 $415,000 $5,112 4.03%
    20-30% 40 $15,380,000 $384,500 $4,090 4.04%
    <20% 17 $3,275,000 $192,647 $2,191 4.47%
    42% 15 $6,965,000 $464,333 $5,795 3.98%
    39% 15 $5,865,000 $391,000 $5,894 3.83%
    43% 14 $4,340,000 $310,000 $5,943 4.04%
    40% 14 $6,500,000 $464,286 $7,435 4.15%
    50-60% 12 $4,620,000 $385,000 $9,542 3.75%
    48% 11 $5,605,000 $509,545 $8,308 4.40%
    41% 10 $3,090,000 $309,000 $3,315 4.00%
    36% 8 $3,610,000 $451,250 $5,336 4.22%
    38% 8 $4,140,000 $517,500 $1,883 3.95%
    37% 7 $1,945,000 $277,857 $4,711 4.14%
    44% 7 $2,035,000 $290,714 $7,169 4.77%
    47% 6 $2,950,000 $491,667 $4,655 3.96%
    45% 6 $2,960,000 $493,333 $7,269 4.17%
    >60% 6 $3,270,000 $545,000 $3,760 5.10%
    46% 4 $1,130,000 $282,500 $2,815 4.44%
    49% 4 $1,820,000 $455,000 $8,898 4.19%

    Snapfi lent most frequently to those with DTI ratios of 30-36%, with 51 originations. The next most common DTI ratio? 20-30%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $54,610,000 $395,725 $4,574 4.22%
    Asian 79 $32,985,000 $417,532 $6,303 4.12%
    Black 16 $5,350,000 $334,375 $4,695 3.70%
    Not provided 12 $5,340,000 $445,000 $8,053 4.32%
    Not applicable 14 $4,230,000 $302,143 $5,453 3.33%
    Native Hawaiian or Islander 1 $475,000 $475,000 $2,984 3.38%

    Approval Rates

    Total approvals of all applications
    97.48%

    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
    83.08%

    Snapfi has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 260 $102,990,000 $396,115

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $560,000 $280,000
    Single Family (1-4 Units):Site-Built 258 $102,430,000 $397,016

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $6,625,000 $348,684 $2,820 4.47%
    40-60% 43 $19,605,000 $455,930 $3,684 4.09%
    60-80% 79 $37,355,000 $472,848 $5,163 4.28%
    80-100% 92 $37,870,000 $411,630 $7,728 4.16%
    Under 20% 27 $1,535,000 $56,852 $731 3.21%