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 small mortgage company specializing in Refi, Cash Out Refi, and Home Purchase 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 105 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 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 | 6.27% | 4/18/24 |
| 30 Year Conventional Refi | 6.27% | 4/18/24 |
| 30 Year Cash-out Refi | 6.27% | 4/18/24 |
| 30 Year FHA Purchase | 6.27% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.27% | 4/18/24 |
| 30 Year USDA Purchase | 6.27% | 4/18/24 |
| 30 Year USDA Refi | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 5.68% | 4/18/24 |
| 15 Year Conventional Refi | 5.68% | 4/18/24 |
| 15 Year Cash-out Refi | 5.68% | 4/18/24 |
| 15 Year VA Refi | 5.68% | 4/18/24 |
| 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
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This is not an official calculator from Direct Mortgage Corp.. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,060Origination Dollar Volume (All Markets)
$1,207,080,000Top 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) | 1,742 | $516,240,000 | $296,349 | $6,448 | 3.18% |
| PROVO-OREM, UT (FHA|USDA|VA) | 493 | $146,625,000 | $297,414 | $7,079 | 3.19% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 467 | $131,725,000 | $282,066 | $6,352 | 3.19% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 168 | $46,030,000 | $273,988 | $8,369 | 3.32% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 142 | $45,360,000 | $319,437 | $10,560 | 3.31% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 102 | $41,110,000 | $403,039 | $11,682 | 3.24% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 116 | $38,110,000 | $328,534 | $8,489 | 3.26% |
| ST. GEORGE, UT (FHA|USDA|VA) | 103 | $28,495,000 | $276,650 | $7,588 | 3.36% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 75 | $20,025,000 | $267,000 | $5,607 | 3.25% |
| Heber, UT (FHA|USDA|VA) | 50 | $19,260,000 | $385,200 | $5,621 | 3.17% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 44 | $15,580,000 | $354,091 | $10,045 | 3.31% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 54 | $13,350,000 | $247,222 | $7,352 | 3.08% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 40 | $12,450,000 | $311,250 | $10,440 | 3.38% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 26 | $11,700,000 | $450,000 | $11,100 | 3.28% |
| Outside of Metro Areas | 46 | $11,230,000 | $244,130 | $6,517 | 3.27% |
| LOGAN, UT-ID (FHA|USDA|VA) | 40 | $9,310,000 | $232,750 | $6,581 | 3.32% |
| GREELEY, CO (FHA|USDA|VA) | 25 | $8,125,000 | $325,000 | $10,380 | 3.35% |
| Sonora, CA (FHA|USDA|VA) | 21 | $6,145,000 | $292,619 | $11,754 | 3.51% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 16 | $6,110,000 | $381,875 | $8,143 | 3.19% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 16 | $5,640,000 | $352,500 | $9,402 | 3.11% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 16 | $4,400,000 | $275,000 | $9,622 | 3.23% |
| LAFAYETTE, LA (FHA|USDA|VA) | 23 | $4,295,000 | $186,739 | $10,075 | 3.34% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 14 | $4,170,000 | $297,857 | $8,845 | 3.54% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 15 | $3,985,000 | $265,667 | $8,126 | 3.23% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 9 | $2,755,000 | $306,111 | $6,370 | 3.33% |
| MODESTO, CA (FHA|USDA|VA) | 10 | $2,690,000 | $269,000 | $9,308 | 3.16% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $2,685,000 | $383,571 | $9,420 | 3.23% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 5 | $2,685,000 | $537,000 | $14,387 | 3.20% |
| STOCKTON, CA (FHA|USDA|VA) | 10 | $2,540,000 | $254,000 | $8,305 | 3.49% |
| VALLEJO, CA (FHA|USDA|VA) | 7 | $2,485,000 | $355,000 | $11,417 | 3.39% |
| BOISE CITY, ID (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $7,036 | 2.91% |
| FORT COLLINS, CO (FHA|USDA|VA) | 7 | $2,035,000 | $290,714 | $8,687 | 3.29% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $2,005,000 | $286,429 | $11,473 | 3.27% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 4 | $1,810,000 | $452,500 | $5,694 | 3.16% |
| Cedar City, UT (FHA|USDA|VA) | 7 | $1,705,000 | $243,571 | $9,421 | 3.27% |
| BOULDER, CO (FHA|USDA|VA) | 4 | $1,590,000 | $397,500 | $10,954 | 3.28% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $8,639 | 3.33% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $7,468 | 3.33% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 5 | $1,305,000 | $261,000 | $11,335 | 3.35% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $1,180,000 | $196,667 | $5,295 | 2.98% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $3,130 | 3.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $12,213 | 3.38% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $13,062 | 3.25% |
| Vernal, UT (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $7,170 | 2.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $6,558 | 3.30% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $6,833 | 3.21% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $6,465 | 2.83% |
| YUBA CITY, CA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $6,910 | 3.46% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $4,370 | 3.19% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $9,000 | 3.19% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $12,412 | 3.50% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $8,223 | 2.94% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $11,039 | 3.50% |
| Outside of Metro Areas | 2 | $630,000 | $315,000 | $10,205 | 2.88% |
| Opelousas, LA (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $8,391 | 3.19% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,677 | 3.81% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $11,291 | 3.19% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $9,884 | 3.25% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $7,579 | 3.75% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,653 | 3.56% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $9,917 | 2.75% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,669 | 2.88% |
| RENO, NV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $14,209 | 3.63% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $2,965 | 3.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,718 | 2.75% |
| OCALA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,063 | 3.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,798 | 3.38% |
| Marietta, OH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,226 | 3.00% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,767 | 2.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $12,175 | 3.63% |
| BEND, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,579 | 3.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,992 | 3.13% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,292 | 3.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,022 | 2.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,458 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,223 | 3.63% |
| POCATELLO, ID (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,644 | 3.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,263 | 2.75% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,887 | 3.00% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,888 | 3.25% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,322 | 3.25% |
| Payson, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,945 | 2.75% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,349 | 2.00% |
| Sanford, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,314 | 3.63% |
| Price, UT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,055 | 3.13% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,518 | 3.13% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,457 | 3.38% |
| MERCED, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,815 | 2.88% |
| Blackfoot, ID (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,684 | 2.75% |
| Elko, NV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,076 | 3.75% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,703 | 3.13% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,121 | 3.00% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,278 | 3.75% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,003 | 3.50% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,274 | 3.38% |
| Selma, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $13,005 | 3.38% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,632 | 3.63% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $10,899 | 2.88% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,182 | 2.75% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,938 | 4.50% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $10,618 | 3.00% |
| Rock Springs, WY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,306 | 2.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $11,186 | 3.88% |
| Evanston, WY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,358 | 2.88% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,737 | 4.00% |
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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 2020, Direct Mortgage Corp.'s most frequently originated type of loan was Conventional, with 3,451 originations. Their 2nd most popular type was FHA, with 428 originations.
Loan Reason
For 2020, Direct Mortgage Corp.'s most frequently cited loan purpose was Refi, with 1,953 originations. The 2nd most popular reason was Cash Out Refi, with 1,082 originations.
Loan Duration/Length
For 2020, Direct Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 3,468 originations. The 2nd most popular length was 15 Year, with 311 originations.
Origination Fees/Closing Costs
Direct Mortgage Corp.'s average total fees were $7,609, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,843 originations.
Interest Rates
During 2020, Direct Mortgage Corp.'s average interest rate for loans was 3.27%, while their most frequently originated rate bucket for loans was 3-4%, with 2,159 originations.
Loan Sizing
2020 saw Direct Mortgage Corp. place emphasis on $200k-400k loans with 2,635 originations, totaling $770,515,000 in origination value.
Applicant Income
Direct Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 1,053 originations. The second most popular income band? $100k-150k, with 1,004 originations.
Applicant Debt to Income Ratio
Direct Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 894 originations. The next most common DTI ratio? 30-36%, with 702 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.91%
Direct Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination91.13%
Direct Mortgage Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,060 | $1,207,080,000 | $297,310 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 4,060 | $1,207,080,000 | $297,310 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Direct Mortgage, Corp. | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |