Direct Mortgage Corp. Rates, Fees & Info

Salt Lake City, UT

LEI: 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, Refi, 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, Riverside, and Los Angeles 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 above average approval rate when compared to the average across all lenders. They have an above 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% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.27% 3/28/24
30 Year USDA Purchase 6.27% 3/28/24
30 Year USDA Refi 6.27% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
15 Year VA Refi 5.68% 3/28/24
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.

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

1,987

Origination Dollar Volume (All Markets)

$595,145,000
Show all (15) 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
SALT LAKE CITY, UT (FHA|USDA|VA) 796 $236,550,000 $297,173 $8,217 4.01%
PROVO-OREM, UT (FHA|USDA|VA) 247 $73,905,000 $299,211 $9,325 3.90%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 245 $68,155,000 $278,184 $8,003 4.03%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 117 $38,605,000 $329,957 $13,359 4.21%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 78 $28,340,000 $363,333 $11,469 3.96%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 62 $20,010,000 $322,742 $9,992 3.95%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 55 $14,585,000 $265,182 $7,255 3.82%
Heber, UT (FHA|USDA|VA) 36 $12,540,000 $348,333 $6,794 3.95%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 40 $10,670,000 $266,750 $10,359 3.98%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 24 $9,170,000 $382,083 $13,525 3.96%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 25 $8,345,000 $333,800 $12,962 4.12%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 20 $7,910,000 $395,500 $10,819 3.83%
ST. GEORGE, UT (FHA|USDA|VA) 26 $6,900,000 $265,385 $7,519 3.93%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 21 $5,485,000 $261,190 $9,399 4.11%
Outside of Metro Areas 16 $3,700,000 $231,250 $8,409 4.21%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 8 $3,360,000 $420,000 $8,576 3.64%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 17 $3,325,000 $195,588 $10,640 4.04%
VALLEJO, CA (FHA|USDA|VA) 8 $3,190,000 $398,750 $11,634 4.03%
LOGAN, UT-ID (FHA|USDA|VA) 15 $3,185,000 $212,333 $6,759 4.01%
STOCKTON, CA (FHA|USDA|VA) 9 $3,045,000 $338,333 $10,597 3.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $2,685,000 $383,571 $8,451 3.71%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 8 $2,660,000 $332,500 $11,473 3.89%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $2,370,000 $395,000 $11,644 4.27%
GREELEY, CO (FHA|USDA|VA) 5 $1,775,000 $355,000 $13,087 3.78%
Cedar City, UT (FHA|USDA|VA) 7 $1,775,000 $253,571 $7,079 4.13%
MODESTO, CA (FHA|USDA|VA) 6 $1,720,000 $286,667 $10,136 3.92%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $1,490,000 $248,333 $10,995 4.60%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,330,000 $332,500 $13,341 3.56%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $905,000 $301,667 $9,041 3.79%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $845,000 $281,667 $8,359 3.71%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $760,000 $380,000 $11,549 3.75%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $680,000 $340,000 $17,958 3.56%
VISALIA, CA (FHA|USDA|VA) 3 $665,000 $221,667 $9,818 3.63%
LAFAYETTE, LA (FHA|USDA|VA) 4 $620,000 $155,000 $9,615 3.38%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $610,000 $305,000 $7,128 4.38%
Edwards, CO (FHA|USDA|VA) 1 $605,000 $605,000 $11,764 4.00%
FRESNO, CA (FHA|USDA|VA) 2 $560,000 $280,000 $14,619 4.00%
Vernal, UT (FHA|USDA|VA) 2 $530,000 $265,000 $4,324 4.31%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $520,000 $260,000 $14,091 4.75%
BOISE CITY, ID (FHA|USDA|VA) 2 $500,000 $250,000 $13,376 4.19%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $480,000 $240,000 $9,064 4.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $450,000 $225,000 $8,686 3.56%
Steamboat Springs, CO (FHA|USDA|VA) 1 $445,000 $445,000 $12,964 4.38%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $440,000 $220,000 $7,149 3.69%
MERCED, CA (FHA|USDA|VA) 2 $440,000 $220,000 $8,656 4.00%
Fernley, NV (FHA|USDA|VA) 1 $415,000 $415,000 $4,259 3.25%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $390,000 $195,000 $10,725 4.31%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $380,000 $190,000 $8,460 4.19%
SALINAS, CA (FHA|USDA|VA) 1 $375,000 $375,000 $18,458 4.13%
BOULDER, CO (FHA|USDA|VA) 1 $375,000 $375,000 $10,293 4.00%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $355,000 $355,000 $3,299 4.38%
Ukiah, CA (FHA|USDA|VA) 1 $355,000 $355,000 $19,957 4.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $325,000 $325,000 $4,777 4.38%
FORT COLLINS, CO (FHA|USDA|VA) 1 $315,000 $315,000 $14,394 3.88%
Show Low, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $10,564 3.38%
Pahrump, NV (FHA|USDA|VA) 1 $295,000 $295,000 $11,593 3.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $6,710 4.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $265,000 $265,000 $9,571 4.50%
Port Angeles, WA (FHA|USDA|VA) 1 $255,000 $255,000 $8,812 3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $255,000 $255,000 $14,317 3.25%
YUBA CITY, CA (FHA|USDA|VA) 1 $255,000 $255,000 $12,471 3.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,885 4.25%
BELLINGHAM, WA (FHA|USDA|VA) 1 $235,000 $235,000 $7,406 4.00%
Price, UT (FHA|USDA|VA) 3 $235,000 $78,333 $3,175 4.21%
LONGVIEW, WA (FHA|USDA|VA) 1 $225,000 $225,000 $10,554 3.50%
RICHMOND, VA (FHA|USDA|VA) 1 $225,000 $225,000 $4,772 3.50%
WILMINGTON, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,647 3.38%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $7,216 3.88%
Blackfoot, ID (FHA|USDA|VA) 1 $205,000 $205,000 $10,415 4.50%
Moscow, ID (FHA|USDA|VA) 1 $195,000 $195,000 $6,183 3.50%
Sonora, CA (FHA|USDA|VA) 1 $185,000 $185,000 $9,474 3.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $185,000 $185,000 $2,755 3.25%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $175,000 $175,000 $2,754 3.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $10,781 3.25%
MEDFORD, OR (FHA|USDA|VA) 1 $165,000 $165,000 $6,060 3.25%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $165,000 $165,000 $7,113 3.63%
Arcadia, FL (FHA|USDA|VA) 1 $65,000 $65,000 $4,865 5.00%
Direct Mortgage Corp.'s top markets include Salt Lake City, Provo, Ogden, Riverside, and Los Angeles among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nevada (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 1,338 $404,050,000 $301,981 $7,366 4.11%
    FHA 504 $143,470,000 $284,663 $13,089 3.80%
    VA 120 $40,920,000 $341,000 $11,348 3.63%
    USDA 25 $6,705,000 $268,200 $9,976 3.70%

    For 2019, Direct Mortgage Corp.'s most frequently originated type of loan was Conventional, with 1,338 originations. Their 2nd most popular type was FHA, with 504 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 832 $242,510,000 $291,478 $9,325 4.11%
    Refi 701 $220,265,000 $314,215 $8,117 3.83%
    Cash Out Refi 418 $121,650,000 $291,029 $10,181 4.05%
    Home Improvement 36 $10,720,000 $297,778 $9,995 4.00%

    For 2019, Direct Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 832 originations. The 2nd most popular reason was Refi, with 701 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,854 $557,900,000 $300,917 $9,246 4.03%
    15 Year 93 $25,495,000 $274,140 $6,795 3.43%
    20 Year 23 $6,635,000 $288,478 $6,161 3.88%
    Other 13 $4,355,000 $335,000 $9,380 3.80%
    10 Year 4 $760,000 $190,000 $6,617 4.28%

    For 2019, Direct Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 1,854 originations. The 2nd most popular length was 15 Year, with 93 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,103 $363,005,000 $329,107
    $<1k 354 $97,680,000 $275,932
    $4k-5k 186 $46,490,000 $249,946
    $3k-4k 123 $28,925,000 $235,163
    $1k-2k 113 $31,945,000 $282,699
    $2k-3k 108 $27,100,000 $250,926

    Direct Mortgage Corp.'s average total fees were $9,246, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,103 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,324 $405,200,000 $306,042
    4-5% 553 $166,275,000 $300,678
    5-6% 68 $16,280,000 $239,412
    2.5-3% 19 $6,955,000 $366,053
    7-8% 13 $125,000 $9,615
    6-7% 9 $95,000 $10,556
    <2.5% 1 $215,000 $215,000

    During 2019, Direct Mortgage Corp.'s average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 1,324 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,359 $400,895,000 $294,993 $9,369 3.93%
    $400k-600k 299 $136,525,000 $456,605 $11,421 3.94%
    $100k-200k 262 $43,330,000 $165,382 $6,199 4.09%
    $100,000 or less 49 $1,285,000 $26,224 $1,171 5.84%
    $600k-1MM 17 $11,935,000 $702,059 $13,260 3.85%
    $1MM+ 1 $1,175,000 $1,175,000 $9,697 4.25%

    2019 saw Direct Mortgage Corp. place emphasis on $200k-400k loans with 1,359 originations, totaling $400,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 540 $141,140,000 $261,370 $8,536 4.03%
    $100k-150k 442 $152,380,000 $344,751 $9,628 3.98%
    $75k-100k 425 $128,275,000 $301,824 $9,646 3.99%
    $50k or less 218 $41,970,000 $192,523 $7,023 4.11%
    $150k-250k 187 $74,865,000 $400,348 $9,783 4.02%
    $250k+ 59 $23,205,000 $393,305 $7,542 3.99%

    Direct Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 540 originations. The second most popular income band? $100k-150k, with 442 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 320 $96,560,000 $301,750 $8,560 4.04%
    20-30% 290 $85,460,000 $294,690 $7,216 3.92%
    <20% 222 $56,910,000 $256,351 $8,153 4.02%
    50-60% 182 $54,310,000 $298,407 $12,928 3.92%
    44% 94 $28,500,000 $303,191 $8,813 4.04%
    45% 82 $26,420,000 $322,195 $10,117 4.08%
    41% 78 $24,300,000 $311,538 $9,078 4.06%
    43% 78 $24,000,000 $307,692 $9,620 3.95%
    47% 74 $21,710,000 $293,378 $9,731 4.02%
    36% 73 $23,615,000 $323,493 $9,143 3.92%
    37% 71 $21,135,000 $297,676 $9,139 3.98%
    42% 70 $21,920,000 $313,143 $8,924 4.02%
    49% 66 $18,510,000 $280,455 $9,235 4.10%
    39% 61 $19,675,000 $322,541 $10,018 4.04%
    38% 59 $17,455,000 $295,847 $8,149 3.95%
    40% 59 $19,975,000 $338,559 $9,442 4.02%
    48% 57 $17,865,000 $313,421 $9,505 3.90%
    46% 49 $16,165,000 $329,898 $9,296 4.08%
    >60% 2 $660,000 $330,000 $17,942 4.44%

    Direct Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 320 originations. The next most common DTI ratio? 20-30%, with 290 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,684 $496,970,000 $295,113 $8,912 4.01%
    Not provided 150 $47,960,000 $319,733 $10,370 3.89%
    Asian 87 $31,395,000 $360,862 $9,295 3.89%
    Black 48 $13,750,000 $286,458 $10,660 4.15%
    Native Hawaiian or Islander 13 $3,655,000 $281,154 $9,838 4.41%
    American Indian 5 $1,415,000 $283,000 $10,650 3.85%

    Approval Rates

    Total approvals of all applications
    92.44%

    Direct Mortgage Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.85%

    Direct Mortgage Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,987 $595,145,000 $299,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,987 $595,145,000 $299,519

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $12,225,000 $239,706 $6,417 3.75%
    40-60% 176 $48,230,000 $274,034 $6,902 3.92%
    60-80% 737 $233,755,000 $317,171 $8,331 4.04%
    80-100% 978 $298,920,000 $305,644 $10,555 3.91%
    Over 100% 1 $465,000 $465,000 $10,904 3.38%
    Under 20% 44 $1,550,000 $35,227 $1,109 5.86%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    DIRECT LENDERS LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%