Compass Mortgage Rates, Fees & Info
WINFIELD, ILLEI: 549300V8CF81JGIV7038
Tax ID: 36-4322204
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Mortgage Data
Review & Overview
Compass Mortgage is a smaller mortgage company specializing in Home Purchase loans. Compass Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Des Moines, Port St. Lucie, Nashville, and Indianapolis among others. We have data for 74 markets. (Some data included below & more in-depth data is available with an active subscription.)Compass Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Compass Mortgage 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.91% | 4/21/24 |
| 30 Year Conventional Refi | 6.58% | 4/21/24 |
| 30 Year Cash-out Refi | 6.90% | 4/21/24 |
| 30 Year FHA Purchase | 7.57% | 4/21/24 |
| 30 Year FHA Refi | 7.26% | 4/21/24 |
| 30 Year VA Purchase | 6.54% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 30 Year USDA Purchase | 7.03% | 4/21/24 |
| 15 Year Conventional Purchase | 6.42% | 4/21/24 |
| 15 Year Conventional Refi | 6.19% | 4/21/24 |
| 15 Year Cash-out Refi | 6.19% | 4/21/24 |
| 15 Year FHA Purchase | 5.68% | 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. | ||
Compass Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,580Origination Dollar Volume (All Markets)
$612,010,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2,261 | $543,105,000 | $240,206 | $5,542 | 4.85% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 56 | $8,760,000 | $156,429 | $4,439 | 4.90% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 24 | $5,500,000 | $229,167 | $4,520 | 4.89% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 10 | $3,420,000 | $342,000 | $3,490 | 4.94% |
| Outside of Metro Areas | 17 | $2,785,000 | $163,824 | $3,198 | 4.94% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 7 | $2,585,000 | $369,286 | $3,563 | 4.63% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 15 | $2,465,000 | $164,333 | $3,266 | 4.83% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 6 | $2,440,000 | $406,667 | $6,282 | 4.48% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 9 | $2,415,000 | $268,333 | $4,975 | 4.33% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,390,000 | $298,750 | $5,082 | 4.81% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $5,774 | 4.75% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $1,810,000 | $301,667 | $7,200 | 5.27% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $1,450,000 | $241,667 | $3,230 | 5.17% |
| KANKAKEE, IL (FHA|USDA|VA) | 10 | $1,440,000 | $144,000 | $4,354 | 4.78% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,385,000 | $277,000 | $4,511 | 5.20% |
| MADISON, WI (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $3,408 | 4.44% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $4,337 | 4.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $4,203 | 4.70% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $7,654 | 4.92% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $4,293 | 4.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $7,127 | 4.94% |
| Ottawa, IL (FHA|USDA|VA) | 9 | $1,005,000 | $111,667 | $4,652 | 5.16% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $4,907 | 4.66% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $4,355 | 4.84% |
| ROCKFORD, IL (FHA|USDA|VA) | 7 | $945,000 | $135,000 | $4,826 | 5.34% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $10,439 | 4.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $3,306 | 4.50% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $4,364 | 5.12% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $3,267 | 5.00% |
| Rochelle, IL (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $4,739 | 4.90% |
| NILES, MI (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $2,476 | 4.38% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $2,326 | 5.16% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $5,842 | 4.50% |
| Baraboo, WI (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,579 | 4.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $5,637 | 5.50% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $3,686 | 4.98% |
| Whitewater, WI (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,883 | 4.88% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,859 | 5.17% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,759 | 5.19% |
| Pella, IA (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,392 | 4.67% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,757 | 5.06% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,510 | 4.88% |
| PEORIA, IL (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $4,493 | 5.29% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $6,848 | 5.06% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 5.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,681 | 4.50% |
| Oskaloosa, IA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,086 | 4.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,510 | 5.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,077 | 3.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,739 | 4.50% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,940 | 4.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.00% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,183 | 5.50% |
| Marion, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,229 | 4.88% |
| Marquette, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,988 | 4.50% |
| Holland, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,515 | 4.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,161 | 4.88% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,188 | 5.31% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,363 | 4.63% |
| Dixon, IL (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $4,334 | 5.13% |
| RACINE, WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,183 | 4.63% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,559 | 4.50% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,482 | 4.88% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,922 | 5.00% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,083 | 4.88% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,528 | 5.13% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,660 | 4.88% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,245 | 6.63% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,272 | 4.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,575 | 5.13% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $809 | 4.75% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,179 | 5.00% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.00% |
| Fort Dodge, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,867 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against COMPASS MORTGAGE 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 2018, Compass Mortgage's most frequently originated type of loan was Conventional, with 1,894 originations. Their 2nd most popular type was FHA, with 569 originations.
Loan Reason
For 2018, Compass Mortgage's most frequently cited loan purpose was Home Purchase, with 2,081 originations. The 2nd most popular reason was Cash Out Refi, with 246 originations.
Loan Duration/Length
For 2018, Compass Mortgage's most frequently cited loan duration was 30 Year, with 2,354 originations. The 2nd most popular length was 15 Year, with 109 originations.
Origination Fees/Closing Costs
Compass Mortgage's average total fees were $5,513, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,843 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,672 | $428,110,000 | $256,047 |
| 5-6% | 696 | $146,350,000 | $210,273 |
| 3-4% | 125 | $31,425,000 | $251,400 |
| 6-7% | 27 | $5,735,000 | $212,407 |
During 2018, Compass Mortgage's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 4-5%, with 1,672 originations.
Loan Sizing
2018 saw Compass Mortgage place emphasis on $200k-400k loans with 1,201 originations, totaling $331,985,000 in origination value.
Applicant Income
Compass Mortgage lent most frequently to those with incomes in the $50k-75k range, with 617 originations. The second most popular income band? $100k-150k, with 546 originations.
Applicant Debt to Income Ratio
Compass Mortgage lent most frequently to those with DTI ratios of 30-36%, with 466 originations. The next most common DTI ratio? 20-30%, with 405 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.81%
Compass Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.85%
Compass Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,580 | $612,010,000 | $237,213 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $75,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 2,579 | $611,935,000 | $237,276 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMPASS MORTGAGE, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |