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 Home Purchase loans. The Anderson Financial Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Detroit, Phoenix, Grand Rapids, and Denver among others. We have data for 34 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.71% | 4/28/24 |
| 30 Year Conventional Refi | 6.52% | 4/28/24 |
| 30 Year Cash-out Refi | 6.54% | 4/28/24 |
| 30 Year FHA Purchase | 7.33% | 4/28/24 |
| 30 Year FHA Refi | 7.10% | 4/28/24 |
| 30 Year VA Purchase | 6.37% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.07% | 4/28/24 |
| 15 Year Conventional Refi | 6.04% | 4/28/24 |
| 15 Year Cash-out Refi | 6.04% | 4/28/24 |
| 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
537Origination Dollar Volume (All Markets)
$182,905,000Awards
THE ANDERSON FINANCIAL GROUP - 2022
THE ANDERSON FINANCIAL GROUP is a 2022 , due to their low .
For 2022, 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) | 382 | $128,290,000 | $335,838 | $5,457 | 4.94% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 73 | $21,395,000 | $293,082 | $4,230 | 5.17% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 19 | $10,205,000 | $537,105 | $4,720 | 3.86% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 8 | $3,570,000 | $446,250 | $3,667 | 4.77% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $3,355,000 | $1,118,333 | $4,509 | 3.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $1,650,000 | $825,000 | $8,603 | 4.56% |
| Outside of Metro Areas | 7 | $1,475,000 | $210,714 | $2,915 | 4.37% |
| KANKAKEE, IL (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $4,637 | 5.96% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $3,044 | 6.25% |
| FLINT, MI (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $3,054 | 4.81% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $7,917 | 6.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $5,107 | 4.75% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $4,291 | 5.06% |
| Ottawa, IL (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $3,887 | 4.25% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $2,925 | 5.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $4,144 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,096 | 5.13% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,352 | 4.99% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,121 | 5.63% |
| MADISON, WI (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,007 | 3.99% |
| NILES, MI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,866 | 4.25% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,397 | 6.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,331 | 3.25% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,337 | 6.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,685 | 5.12% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,912 | 2.99% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 3.50% |
| MONROE, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,910 | 5.50% |
| Dixon, IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,544 | 3.25% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,463 | 6.13% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,547 | 3.63% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,861 | 6.13% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,911 | 4.75% |
| FOND DU LAC, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,637 | 3.25% |
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 | 483 | $167,515,000 | $346,822 | $4,652 | 4.89% |
| FHA | 47 | $12,325,000 | $262,234 | $9,210 | 5.20% |
| VA | 7 | $3,065,000 | $437,857 | $9,357 | 4.50% |
For 2022, The Anderson Financial Group's most frequently originated type of loan was Conventional, with 483 originations. Their 2nd most popular type was FHA, with 47 originations.
Loan Reason
For 2022, The Anderson Financial Group's most frequently cited loan purpose was Home Purchase, with 431 originations. The 2nd most popular reason was Refi, with 59 originations.
Loan Duration/Length
For 2022, The Anderson Financial Group's most frequently cited loan duration was 30 Year, with 494 originations. The 2nd most popular length was 15 Year, with 23 originations.
Origination Fees/Closing Costs
The Anderson Financial Group's average total fees were $5,280, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 434 originations.
Interest Rates
During 2022, The Anderson Financial Group's average interest rate for loans was 5.02%, while their most frequently originated rate bucket for loans was 5-6%, with 179 originations.
Loan Sizing
2022 saw The Anderson Financial Group place emphasis on $200k-400k loans with 281 originations, totaling $81,985,000 in origination value.
Applicant Income
The Anderson Financial Group lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $150k-250k, with 122 originations.
Applicant Debt to Income Ratio
The Anderson Financial Group lent most frequently to those with DTI ratios of 30-36%, with 107 originations. The next most common DTI ratio? 20-30%, with 106 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.71%
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 origination66.85%
The Anderson Financial Group has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 537 | $182,905,000 | $340,605 |