Direct Mortgage Corp. Rates, Fees & Info

Salt Lake City, UT

LEI: 549300XAHXRVSRML8V19

Tax ID: 87-0530005

1.9 stars - Updated: 3/17/24 - out of 5 stars, based on 32 reviews

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

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Mortgage Data

Review & Overview

Direct Mortgage Corp. is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Direct Mortgage Corp. 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: Salt Lake City, Provo, Ogden, Phoenix, and Riverside among others. We have data for 77 markets. (Some data included below & more in-depth data is available with an active subscription.)

Direct Mortgage Corp. has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Direct Mortgage Corp. is typically a high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 3/17/24
30 Year Conventional Refi 6.27% 3/17/24
30 Year Cash-out Refi 6.27% 3/17/24
30 Year FHA Purchase 6.27% 3/17/24
30 Year FHA Refi 6.27% 3/17/24
30 Year VA Purchase 6.27% 3/17/24
30 Year USDA Purchase 6.27% 3/17/24
30 Year USDA Refi 6.27% 3/17/24
15 Year Conventional Purchase 5.68% 3/17/24
15 Year Conventional Refi 5.68% 3/17/24
15 Year Cash-out Refi 5.68% 3/17/24
15 Year VA Refi 5.68% 3/17/24
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.

Direct Mortgage Corp. Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Direct Mortgage Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,004

Origination Dollar Volume (All Markets)

$390,180,000
Show all (7) awards

Relative Rate

Direct Mortgage Corp.'s average 30 year fixed mortgage rate was 4.57%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.19%.

Relative Fees (Closing Costs)

Direct Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $10,159.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
SALT LAKE CITY, UT (FHA|USDA|VA) 363 $146,865,000 $404,587 $9,146 4.58%
PROVO-OREM, UT (FHA|USDA|VA) 126 $51,740,000 $410,635 $10,291 4.40%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 122 $42,970,000 $352,213 $8,979 4.45%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 68 $26,260,000 $386,176 $12,230 4.23%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 42 $16,650,000 $396,429 $14,985 4.39%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 31 $13,425,000 $433,065 $11,885 4.76%
ST. GEORGE, UT (FHA|USDA|VA) 29 $10,725,000 $369,828 $9,217 4.46%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 17 $7,675,000 $451,471 $10,384 4.79%
Heber, UT (FHA|USDA|VA) 15 $7,015,000 $467,667 $8,250 4.47%
Outside of Metro Areas 20 $5,760,000 $288,000 $9,470 4.83%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 10 $4,840,000 $484,000 $13,404 4.74%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 13 $4,695,000 $361,154 $7,811 4.51%
LOGAN, UT-ID (FHA|USDA|VA) 12 $4,160,000 $346,667 $13,205 4.49%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 13 $3,615,000 $278,077 $7,752 4.45%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $3,030,000 $505,000 $13,947 3.67%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $2,415,000 $345,000 $8,478 4.41%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,375,000 $339,286 $11,262 4.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $2,255,000 $451,000 $14,066 4.23%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $1,605,000 $321,000 $12,034 5.23%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,585,000 $528,333 $15,365 4.46%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,495,000 $498,333 $13,986 5.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,250,000 $625,000 $21,726 4.63%
Price, UT (FHA|USDA|VA) 4 $1,120,000 $280,000 $7,371 3.91%
Durango, CO (FHA|USDA|VA) 1 $1,075,000 $1,075,000 $26,448 3.88%
BOISE CITY, ID (FHA|USDA|VA) 2 $1,060,000 $530,000 $8,149 5.06%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $1,030,000 $515,000 $7,139 5.44%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 3 $985,000 $328,333 $7,710 5.21%
IDAHO FALLS, ID (FHA|USDA|VA) 3 $955,000 $318,333 $9,414 4.88%
MEDFORD, OR (FHA|USDA|VA) 2 $930,000 $465,000 $17,361 4.75%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $905,000 $301,667 $5,719 3.50%
OCALA, FL (FHA|USDA|VA) 5 $895,000 $179,000 $7,090 4.23%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $865,000 $288,333 $5,384 4.17%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $770,000 $385,000 $3,926 4.06%
Cedar City, UT (FHA|USDA|VA) 2 $770,000 $385,000 $3,796 4.06%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $725,000 $725,000 $18,967 6.25%
Payson, AZ (FHA|USDA|VA) 2 $720,000 $360,000 $11,749 4.75%
Elko, NV (FHA|USDA|VA) 2 $710,000 $355,000 $14,067 3.88%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $680,000 $340,000 $9,320 4.56%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $630,000 $157,500 $7,449 5.38%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $615,000 $615,000 $8,009 4.88%
Breckenridge, CO (FHA|USDA|VA) 1 $605,000 $605,000 $14,494 5.00%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $575,000 $575,000 $10,012 4.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $545,000 $545,000 $5,632 3.75%
Kalispell, MT (FHA|USDA|VA) 1 $535,000 $535,000 $17,927 7.50%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $515,000 $515,000 $4,155 6.13%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $505,000 $505,000 $15,191 6.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $480,000 $240,000 $13,918 3.69%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $475,000 $475,000 $9,244 3.88%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $445,000 $445,000 $12,728 4.75%
YUBA CITY, CA (FHA|USDA|VA) 1 $445,000 $445,000 $14,931 4.00%
TWIN FALLS, ID (FHA|USDA|VA) 1 $435,000 $435,000 $6,366 5.38%
Helena, MT (FHA|USDA|VA) 1 $425,000 $425,000 $7,503 7.50%
FRESNO, CA (FHA|USDA|VA) 1 $425,000 $425,000 $20,132 4.88%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $415,000 $415,000 $13,497 6.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $355,000 $355,000 $7,805 5.00%
STOCKTON, CA (FHA|USDA|VA) 1 $335,000 $335,000 $9,981 3.38%
TUCSON, AZ (FHA|USDA|VA) 2 $320,000 $160,000 $7,061 4.31%
COLUMBUS, OH (FHA|USDA|VA) 1 $305,000 $305,000 $7,134 5.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $305,000 $305,000 $6,456 4.88%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $295,000 $295,000 $15,839 3.50%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $285,000 $285,000 $7,295 5.50%
Show Low, AZ (FHA|USDA|VA) 2 $280,000 $140,000 $5,459 4.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,240 4.88%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $265,000 $265,000 $2,817 3.13%
WILMINGTON, NC (FHA|USDA|VA) 1 $265,000 $265,000 $10,482 5.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $255,000 $255,000 $7,705 4.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $230,000 $115,000 $5,935 6.13%
Vernal, UT (FHA|USDA|VA) 1 $225,000 $225,000 $8,159 3.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $225,000 $225,000 $10,759 4.75%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $215,000 $215,000 $10,388 5.75%
MODESTO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $10,065 3.75%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $195,000 $195,000 $13,091 6.88%
Red Bluff, CA (FHA|USDA|VA) 1 $155,000 $155,000 $4,471 5.63%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $155,000 $155,000 $5,819 4.50%
YAKIMA, WA (FHA|USDA|VA) 1 $145,000 $145,000 $7,438 4.63%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $115,000 $115,000 $6,825 6.13%
Nogales, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $7,454 3.63%
Direct Mortgage Corp.'s top markets include Salt Lake City, Provo, Ogden, Phoenix, and Riverside among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against DIRECT MORTGAGE CORP. 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 850 $330,220,000 $388,494 $9,134 4.54%
    FHA 110 $41,080,000 $373,455 $15,483 4.41%
    VA 39 $17,355,000 $445,000 $13,326 4.56%
    USDA 5 $1,525,000 $305,000 $11,035 4.05%

    For 2022, Direct Mortgage Corp.'s most frequently originated type of loan was Conventional, with 850 originations. Their 2nd most popular type was FHA, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 614 $254,340,000 $414,235 $10,434 4.81%
    Cash Out Refi 305 $109,375,000 $358,607 $9,706 4.15%
    Refi 81 $25,445,000 $314,136 $8,022 3.73%
    Home Improvement 4 $1,020,000 $255,000 $6,271 4.28%

    For 2022, Direct Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 614 originations. The 2nd most popular reason was Cash Out Refi, with 305 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 957 $376,595,000 $393,516 $10,159 4.57%
    15 Year 37 $10,555,000 $285,270 $6,618 3.64%
    20 Year 8 $2,410,000 $301,250 $7,806 3.83%
    10 Year 1 $305,000 $305,000 $2,120 2.88%
    Other 1 $315,000 $315,000 $9,773 3.75%

    For 2022, Direct Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 957 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 595 $245,745,000 $413,017
    $<1k 144 $56,080,000 $389,444
    $4k-5k 81 $25,675,000 $316,975
    $1k-2k 78 $26,920,000 $345,128
    $2k-3k 66 $22,580,000 $342,121
    $3k-4k 40 $13,180,000 $329,500

    Direct Mortgage Corp.'s average total fees were $10,159, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 595 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 357 $137,195,000 $384,300
    4-5% 283 $114,145,000 $403,339
    5-6% 231 $85,625,000 $370,671
    6-7% 71 $30,255,000 $426,127
    2.5-3% 46 $17,300,000 $376,087
    7-8% 10 $4,000,000 $400,000
    <2.5% 6 $1,660,000 $276,667

    During 2022, Direct Mortgage Corp.'s average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 3-4%, with 357 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 446 $136,820,000 $306,771 $9,368 4.42%
    $400k-600k 355 $171,585,000 $483,338 $11,634 4.61%
    $600k-1MM 97 $63,015,000 $649,639 $12,204 4.59%
    $100k-200k 79 $12,275,000 $155,380 $5,984 4.50%
    $100,000 or less 23 $705,000 $30,652 $959 4.99%
    $1MM+ 4 $5,780,000 $1,445,000 $13,853 4.53%

    2022 saw Direct Mortgage Corp. place emphasis on $200k-400k loans with 446 originations, totaling $136,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 290 $126,640,000 $436,690 $11,031 4.58%
    $75k-100k 225 $82,075,000 $364,778 $9,943 4.44%
    $50k-75k 209 $60,975,000 $291,746 $8,883 4.32%
    $150k-250k 163 $76,625,000 $470,092 $10,785 4.78%
    $50k or less 57 $11,885,000 $208,509 $7,555 4.33%
    $250k+ 53 $31,845,000 $600,849 $10,545 4.73%

    Direct Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 290 originations. The second most popular income band? $75k-100k, with 225 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 150 $58,290,000 $388,600 $9,573 4.52%
    20-30% 137 $51,475,000 $375,730 $8,989 4.29%
    50-60% 87 $34,285,000 $394,080 $14,124 4.49%
    44% 64 $24,330,000 $380,156 $9,339 4.68%
    45% 56 $22,240,000 $397,143 $10,360 4.55%
    42% 53 $20,685,000 $390,283 $9,469 4.53%
    41% 48 $18,530,000 $386,042 $8,267 4.64%
    43% 47 $18,935,000 $402,872 $9,661 4.47%
    <20% 46 $13,690,000 $297,609 $5,728 4.43%
    46% 44 $17,940,000 $407,727 $10,434 4.24%
    40% 44 $16,690,000 $379,318 $9,128 4.66%
    39% 42 $15,950,000 $379,762 $10,804 4.61%
    48% 37 $15,585,000 $421,216 $11,665 5.00%
    37% 33 $13,615,000 $412,576 $10,824 4.77%
    49% 32 $13,740,000 $429,375 $10,973 4.74%
    47% 29 $11,725,000 $404,310 $11,308 4.88%
    36% 26 $9,550,000 $367,308 $8,704 4.14%
    38% 25 $10,295,000 $411,800 $10,475 4.43%
    >60% 4 $2,630,000 $657,500 $20,285 4.13%

    Direct Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 150 originations. The next most common DTI ratio? 20-30%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 802 $308,760,000 $384,988 $9,755 4.52%
    Not provided 127 $49,845,000 $392,480 $10,295 4.41%
    Asian 35 $16,885,000 $482,429 $12,038 4.66%
    Black 27 $9,645,000 $357,222 $12,802 4.93%
    Native Hawaiian or Islander 9 $3,375,000 $375,000 $12,334 4.68%
    American Indian 4 $1,670,000 $417,500 $8,139 4.81%

    Approval Rates

    Total approvals of all applications
    88.21%

    Direct Mortgage Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.93%

    Direct Mortgage Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,004 $390,180,000 $388,625

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,004 $390,180,000 $388,625

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $13,385,000 $262,451 $7,224 4.44%
    40-60% 189 $63,435,000 $335,635 $8,599 4.32%
    60-80% 396 $164,980,000 $416,616 $10,017 4.47%
    80-100% 342 $146,790,000 $429,211 $11,797 4.68%
    Under 20% 26 $1,590,000 $61,154 $1,802 4.85%