Aspire Financial Mortgage Rates, Fees & Info

DALLAS, TX

LEI: 549300WN576XI5QFH005

Tax ID: 75-2945170

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Aspire Financial is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Aspire Financial has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Dallas, Houston, Austin, Granbury, and Waco among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Aspire Financial has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Aspire Financial 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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    Originations

    169

    Origination Dollar Volume (All Markets)

    $41,535,000
    Show all (5) 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
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 113 $28,585,000 $252,965 $7,430 6.58%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 24 $4,890,000 $203,750 $7,125 6.58%
    Outside of Metro Areas 7 $1,325,000 $189,286 $4,859 6.91%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,170,000 $292,500 $6,606 6.25%
    Granbury, TX (FHA|USDA|VA) 2 $990,000 $495,000 $14,376 8.88%
    WACO, TX (FHA|USDA|VA) 2 $740,000 $370,000 $17,650 5.50%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $725,000 $725,000 $11,452 5.88%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $635,000 $211,667 $8,946 6.42%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $465,000 $465,000 $20,371 5.63%
    Bay City, TX (FHA|USDA|VA) 1 $345,000 $345,000 $5,985 6.49%
    Gainesville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $11,435 6.63%
    Athens, TX (FHA|USDA|VA) 1 $235,000 $235,000 $11,808 5.88%
    Paris, TX (FHA|USDA|VA) 2 $230,000 $115,000 $5,948 7.06%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $6,541 5.88%
    OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $5,811 6.99%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $145,000 $145,000 $4,785 6.50%
    Jacksonville, TX (FHA|USDA|VA) 1 $125,000 $125,000 $4,151 6.99%
    LONGVIEW, TX (FHA|USDA|VA) 1 $115,000 $115,000 $3,901 5.99%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $105,000 $105,000 $8,013 5.75%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $75,000 $75,000 $2,757 6.99%
    Aspire Financial's top markets include Dallas, Houston, Austin, Granbury, and Waco among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ASPIRE FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    Suncoast Credit Union
    Similarity Rank: 399
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    ACHIEVA CREDIT UNION
    Similarity Rank: 441
    LGE COMMUNITY
    Similarity Rank: 546
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 770
    Generations Community Federal Credit Union
    Similarity Rank: 824

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 141 $32,745,000 $232,234 $6,577 6.71%
    FHA 22 $6,280,000 $285,455 $12,496 5.91%
    VA 6 $2,510,000 $418,333 $11,414 5.98%

    For 2023, Aspire Financial's most frequently originated type of loan was Conventional, with 141 originations. Their 2nd most popular type was FHA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 110 $21,300,000 $193,636 $6,038 6.87%
    Home Purchase 56 $19,160,000 $342,143 $10,420 6.05%
    Refi 3 $1,075,000 $358,333 $7,706 6.12%

    For 2023, Aspire Financial's most frequently cited loan purpose was Cash Out Refi, with 110 originations. The 2nd most popular reason was Home Purchase, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 162 $39,790,000 $245,617 $7,495 6.59%
    15 Year 3 $805,000 $268,333 $9,294 5.58%
    20 Year 2 $570,000 $285,000 $8,642 6.50%
    Other 2 $370,000 $185,000 $5,683 7.25%

    For 2023, Aspire Financial's most frequently cited loan duration was 30 Year, with 162 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 53 $13,795,000 $260,283
    $3k-4k 29 $6,035,000 $208,103
    $5k+ 27 $11,905,000 $440,926
    $1k-2k 24 $2,960,000 $123,333
    $<1k 20 $2,870,000 $143,500
    $4k-5k 16 $3,970,000 $248,125

    Aspire Financial's average total fees were $7,495, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 53 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 95 $18,545,000 $195,211
    5-6% 37 $13,235,000 $357,703
    7-8% 29 $5,975,000 $206,034
    Over 8% 6 $2,900,000 $483,333
    4-5% 2 $880,000 $440,000

    During 2023, Aspire Financial's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 6-7%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 64 $8,970,000 $140,156 $5,452 6.76%
    $200k-400k 59 $16,525,000 $280,085 $9,037 6.49%
    $100,000 or less 21 $1,685,000 $80,238 $3,094 6.88%
    $400k-600k 17 $8,355,000 $491,471 $12,749 5.93%
    $600k-1MM 7 $4,795,000 $685,000 $12,043 6.25%
    $1MM+ 1 $1,205,000 $1,205,000 $22,712 8.38%

    2023 saw Aspire Financial place emphasis on $100k-200k loans with 64 originations, totaling $8,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $10,570,000 $251,667 $8,808 6.46%
    $50k-75k 38 $5,690,000 $149,737 $5,737 6.75%
    $150k-250k 28 $10,410,000 $371,786 $8,892 6.40%
    $75k-100k 24 $5,100,000 $212,500 $7,395 6.60%
    $50k or less 22 $2,460,000 $111,818 $4,290 6.72%
    $250k+ 15 $7,305,000 $487,000 $10,800 6.61%

    Aspire Financial lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $50k-75k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $5,580,000 $253,636 $6,609 6.68%
    30-36% 21 $5,235,000 $249,286 $7,279 6.43%
    50-60% 15 $4,485,000 $299,000 $12,852 5.92%
    44% 13 $3,075,000 $236,538 $6,535 6.55%
    41% 11 $2,445,000 $222,273 $7,001 6.67%
    39% 10 $1,600,000 $160,000 $5,424 6.60%
    42% 9 $2,035,000 $226,111 $7,308 6.58%
    <20% 8 $1,840,000 $230,000 $7,236 6.70%
    43% 8 $1,840,000 $230,000 $7,391 6.72%
    45% 7 $1,225,000 $175,000 $5,866 6.91%
    47% 7 $1,845,000 $263,571 $6,686 6.46%
    49% 7 $1,815,000 $259,286 $8,169 6.57%
    36% 6 $1,510,000 $251,667 $7,145 6.58%
    37% 6 $1,830,000 $305,000 $6,537 6.17%
    38% 5 $485,000 $97,000 $3,509 7.02%
    48% 4 $1,770,000 $442,500 $11,090 6.13%
    40% 3 $845,000 $281,667 $8,356 6.13%
    46% 2 $380,000 $190,000 $7,831 6.62%

    Aspire Financial lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $34,105,000 $238,497 $7,274 6.61%
    Black 13 $2,935,000 $225,769 $7,744 6.93%
    Not provided 9 $2,665,000 $296,111 $10,007 6.02%
    Asian 2 $1,110,000 $555,000 $11,223 5.63%
    American Indian 2 $720,000 $360,000 $8,687 6.19%

    Approval Rates

    Total approvals of all applications
    79.82%

    Aspire Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -44.97%

    Aspire Financial 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 169 $41,535,000 $245,769

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    169 $41,535,000 $245,769

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $4,320,000 $144,000 $4,511 6.80%
    40-60% 37 $6,465,000 $174,730 $5,967 6.65%
    60-80% 53 $14,245,000 $268,774 $7,591 6.60%
    80-100% 37 $13,525,000 $365,541 $11,074 6.04%
    Over 100% 2 $790,000 $395,000 $16,859 5.81%
    Under 20% 5 $495,000 $99,000 $3,582 6.88%