Direct Mortgage Corp. Rates, Fees & Info
Salt Lake City, UTLEI: 549300XAHXRVSRML8V19
Tax ID: 87-0530005
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 5/27/23 |
| 30 Year Conventional Refi | 6.27% | 5/27/23 |
| 30 Year Cash-out Refi | 6.27% | 5/27/23 |
| 30 Year FHA Purchase | 6.27% | 5/27/23 |
| 30 Year FHA Refi | 6.27% | 5/27/23 |
| 30 Year VA Purchase | 6.27% | 5/27/23 |
| 30 Year USDA Purchase | 6.27% | 5/27/23 |
| 30 Year USDA Refi | 6.27% | 5/27/23 |
| 15 Year Conventional Purchase | 5.68% | 5/27/23 |
| 15 Year Conventional Refi | 5.68% | 5/27/23 |
| 15 Year Cash-out Refi | 5.68% | 5/27/23 |
| 15 Year VA Refi | 5.68% | 5/27/23 |
| 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
1,004Origination Dollar Volume (All Markets)
$390,180,000Awards
DIRECT MORTGAGE CORP. - 2022
DIRECT MORTGAGE CORP. is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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
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
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
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
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
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
2022 saw Direct Mortgage Corp. place emphasis on $200k-400k loans with 446 originations, totaling $136,820,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications88.21%
Direct Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination91.93%
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 |