The Anderson Financial Group Mortgage Rates, Fees & Info
CHICAGO, ILLEI: 549300W09D8JV1ANXX59
Tax ID: 36-4226027
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Mortgage Data
Review & Overview
The Anderson Financial Group is a smaller mortgage company specializing in Refi and Home Purchase loans. The Anderson Financial Group has a high proportion of conventional 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: Chicago, Detroit, Phoenix, Grand Rapids, and Niles among others. We have data for 41 markets. (Some data included below & more in-depth data is available with an active subscription.)The Anderson Financial Group 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. The Anderson Financial Group 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.71% | 4/21/24 |
| 30 Year Conventional Refi | 6.52% | 4/21/24 |
| 30 Year Cash-out Refi | 6.54% | 4/21/24 |
| 30 Year FHA Purchase | 7.33% | 4/21/24 |
| 30 Year FHA Refi | 7.10% | 4/21/24 |
| 30 Year VA Purchase | 6.37% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.07% | 4/21/24 |
| 15 Year Conventional Refi | 6.04% | 4/21/24 |
| 15 Year Cash-out Refi | 6.04% | 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. | ||
The Anderson Financial Group Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,039Origination Dollar Volume (All Markets)
$317,515,000Awards
THE ANDERSON FINANCIAL GROUP - 2020
THE ANDERSON FINANCIAL GROUP 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 592 | $187,410,000 | $316,571 | $3,138 | 3.21% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 285 | $79,335,000 | $278,368 | $2,751 | 3.12% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 50 | $16,860,000 | $337,200 | $3,545 | 3.02% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 15 | $4,305,000 | $287,000 | $2,749 | 3.03% |
| Outside of Metro Areas | 12 | $3,920,000 | $326,667 | $3,120 | 3.18% |
| NILES, MI (FHA|USDA|VA) | 7 | $3,065,000 | $437,857 | $3,595 | 2.96% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $2,240,000 | $560,000 | $3,159 | 3.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 10 | $2,160,000 | $216,000 | $5,646 | 4.15% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $1,815,000 | $363,000 | $3,102 | 2.85% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,645,000 | $548,333 | $4,906 | 3.08% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 4 | $1,380,000 | $345,000 | $2,837 | 3.38% |
| Ottawa, IL (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $4,455 | 3.18% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $3,825 | 2.96% |
| Edwards, CO (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $3,397 | 3.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $3,886 | 3.38% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $3,690 | 2.75% |
| ANN ARBOR, MI (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $2,359 | 3.09% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $3,602 | 2.88% |
| KANKAKEE, IL (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $4,757 | 3.40% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,438 | 3.50% |
| FLINT, MI (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $2,757 | 3.29% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $2,539 | 3.42% |
| MADISON, WI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,148 | 3.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,556 | 3.13% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,290 | 3.19% |
| MUSKEGON, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,855 | 3.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,913 | 3.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,002 | 2.75% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,561 | 3.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,822 | 3.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,203 | 3.38% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,703 | 3.25% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,976 | 3.25% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,332 | 2.88% |
| Shawano, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,977 | 2.88% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,495 | 3.99% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,091 | 2.38% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,009 | 3.88% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,814 | 2.88% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,704 | 2.88% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,020 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against THE ANDERSON FINANCIAL GROUP 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 971 | $300,515,000 | $309,490 | $2,727 | 3.18% |
| FHA | 64 | $15,130,000 | $236,406 | $8,025 | 3.24% |
| VA | 4 | $1,870,000 | $467,500 | $16,745 | 2.53% |
For 2020, The Anderson Financial Group's most frequently originated type of loan was Conventional, with 971 originations. Their 2nd most popular type was FHA, with 64 originations.
Loan Reason
For 2020, The Anderson Financial Group's most frequently cited loan purpose was Refi, with 753 originations. The 2nd most popular reason was Home Purchase, with 245 originations.
Loan Duration/Length
For 2020, The Anderson Financial Group's most frequently cited loan duration was 30 Year, with 719 originations. The 2nd most popular length was 15 Year, with 162 originations.
Origination Fees/Closing Costs
The Anderson Financial Group's average total fees were $3,434, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,001 originations.
Interest Rates
During 2020, The Anderson Financial Group's average interest rate for loans was 3.27%, while their most frequently originated rate bucket for loans was 3-4%, with 581 originations.
Loan Sizing
2020 saw The Anderson Financial Group place emphasis on $200k-400k loans with 589 originations, totaling $169,725,000 in origination value.
Applicant Income
The Anderson Financial Group lent most frequently to those with incomes in the $100k-150k range, with 316 originations. The second most popular income band? $150k-250k, with 273 originations.
Applicant Debt to Income Ratio
The Anderson Financial Group lent most frequently to those with DTI ratios of 20-30%, with 360 originations. The next most common DTI ratio? 30-36%, with 185 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.27%
The Anderson Financial Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.84%
The Anderson Financial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,039 | $317,515,000 | $305,597 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,039 | $317,515,000 | $305,597 |