Snapfi Mortgage Rates, Fees & Info
Redding, CALEI: 549300UM5S3HZLZHVP89
Tax ID: 77-0563974
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Mortgage Data
Review & Overview
Snapfi is a smaller mortgage company specializing in Refi loans. Snapfi has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Francisco, San Jose, Sacramento, Stockton, and Vallejo among others. We have data for 35 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 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.83% | 4/21/24 |
| 30 Year Conventional Refi | 6.38% | 4/21/24 |
| 30 Year Cash-out Refi | 6.76% | 4/21/24 |
| 30 Year FHA Purchase | 7.28% | 4/21/24 |
| 30 Year VA Purchase | 6.14% | 4/21/24 |
| 15 Year Conventional Purchase | 5.73% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
787Origination Dollar Volume (All Markets)
$306,745,000Awards
SNAPFI - 2020
SNAPFI is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 173 | $78,725,000 | $455,058 | $3,663 | 3.05% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 169 | $78,475,000 | $464,349 | $2,968 | 2.99% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 162 | $56,210,000 | $346,975 | $2,940 | 2.96% |
| STOCKTON, CA (FHA|USDA|VA) | 43 | $14,285,000 | $332,209 | $4,518 | 2.92% |
| Outside of Metro Areas | 30 | $10,190,000 | $339,667 | $4,229 | 3.08% |
| VALLEJO, CA (FHA|USDA|VA) | 21 | $7,235,000 | $344,524 | $4,243 | 2.92% |
| MODESTO, CA (FHA|USDA|VA) | 23 | $7,135,000 | $310,217 | $3,498 | 2.98% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 18 | $6,720,000 | $373,333 | $3,037 | 2.88% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 24 | $6,230,000 | $259,583 | $3,142 | 2.88% |
| RENO, NV (FHA|USDA|VA) | 19 | $5,705,000 | $300,263 | $2,642 | 2.57% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 13 | $4,795,000 | $368,846 | $2,683 | 2.88% |
| SALINAS, CA (FHA|USDA|VA) | 10 | $4,330,000 | $433,000 | $2,096 | 3.20% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 13 | $3,375,000 | $259,615 | $2,422 | 3.14% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 8 | $2,960,000 | $370,000 | $3,366 | 2.77% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 6 | $2,810,000 | $468,333 | $2,690 | 3.13% |
| FRESNO, CA (FHA|USDA|VA) | 10 | $2,600,000 | $260,000 | $3,087 | 3.06% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 7 | $2,485,000 | $355,000 | $3,662 | 3.11% |
| NAPA, CA (FHA|USDA|VA) | 5 | $2,245,000 | $449,000 | $4,268 | 3.08% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $3,562 | 2.80% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $970 | 3.04% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $1,666 | 3.04% |
| MERCED, CA (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $3,939 | 3.16% |
| VISALIA, CA (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $4,342 | 3.28% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 2.88% |
| Pahrump, NV (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,308 | 2.81% |
| Sonora, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $7,328 | 3.50% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,102 | 3.13% |
| MADERA, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,951 | 2.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,460 | 2.38% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,260 | 2.88% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,875 | 3.38% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,300 | 2.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,109 | 3.13% |
| CHICO, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,545 | 3.38% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,805 | 3.50% |
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.
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Product Mix
For 2020, Snapfi's most frequently originated type of loan was Conventional, with 729 originations. Their 2nd most popular type was FHA, with 38 originations.
Loan Reason
For 2020, Snapfi's most frequently cited loan purpose was Refi, with 754 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 786 | $306,420,000 | $389,847 | $3,316 | 2.99% |
| 15 Year | 1 | $325,000 | $325,000 | $2,085 | 2.88% |
For 2020, Snapfi's most frequently cited loan duration was 30 Year, with 786 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Snapfi's average total fees were $3,316, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 302 originations.
Interest Rates
During 2020, Snapfi's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 2.5-3%, with 415 originations.
Loan Sizing
2020 saw Snapfi place emphasis on $200k-400k loans with 377 originations, totaling $115,685,000 in origination value.
Applicant Income
Snapfi lent most frequently to those with incomes in the $100k-150k range, with 235 originations. The second most popular income band? $150k-250k, with 214 originations.
Applicant Debt to Income Ratio
Snapfi lent most frequently to those with DTI ratios of 20-30%, with 200 originations. The next most common DTI ratio? 30-36%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.23%
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 origination87.29%
Snapfi has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 787 | $306,745,000 | $389,765 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 787 | $306,745,000 | $389,765 |