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 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 107 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% | 4/22/24 |
| 30 Year Conventional Refi | 6.27% | 4/22/24 |
| 30 Year Cash-out Refi | 6.27% | 4/22/24 |
| 30 Year FHA Purchase | 6.27% | 4/22/24 |
| 30 Year FHA Refi | 6.27% | 4/22/24 |
| 30 Year VA Purchase | 6.27% | 4/22/24 |
| 30 Year USDA Purchase | 6.27% | 4/22/24 |
| 30 Year USDA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 5.68% | 4/22/24 |
| 15 Year Conventional Refi | 5.68% | 4/22/24 |
| 15 Year Cash-out Refi | 5.68% | 4/22/24 |
| 15 Year VA Refi | 5.68% | 4/22/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,879Origination Dollar Volume (All Markets)
$915,975,000Awards
DIRECT MORTGAGE CORP. - 2021
DIRECT MORTGAGE CORP. is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 1,035 | $337,335,000 | $325,928 | $6,351 | 2.96% |
| PROVO-OREM, UT (FHA|USDA|VA) | 441 | $145,725,000 | $330,442 | $7,849 | 2.92% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 334 | $107,330,000 | $321,347 | $6,815 | 2.95% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 183 | $54,965,000 | $300,355 | $9,071 | 3.07% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 121 | $37,585,000 | $310,620 | $11,077 | 3.01% |
| ST. GEORGE, UT (FHA|USDA|VA) | 55 | $18,735,000 | $340,636 | $7,554 | 3.03% |
| Heber, UT (FHA|USDA|VA) | 38 | $15,770,000 | $415,000 | $6,233 | 2.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 50 | $15,200,000 | $304,000 | $7,464 | 2.97% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 39 | $15,125,000 | $387,821 | $12,098 | 3.02% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 43 | $14,685,000 | $341,512 | $10,122 | 3.01% |
| Outside of Metro Areas | 64 | $13,990,000 | $218,594 | $6,179 | 3.05% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 29 | $12,305,000 | $424,310 | $12,278 | 2.82% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 38 | $10,160,000 | $267,368 | $4,548 | 3.03% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 37 | $9,105,000 | $246,081 | $8,563 | 2.92% |
| LOGAN, UT-ID (FHA|USDA|VA) | 26 | $7,160,000 | $275,385 | $5,846 | 3.09% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 12 | $6,700,000 | $558,333 | $10,843 | 3.03% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 16 | $6,460,000 | $403,750 | $9,575 | 3.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 22 | $6,370,000 | $289,545 | $10,079 | 2.86% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 20 | $5,760,000 | $288,000 | $10,466 | 2.91% |
| BOULDER, CO (FHA|USDA|VA) | 11 | $4,035,000 | $366,818 | $9,836 | 2.88% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 16 | $3,790,000 | $236,875 | $7,486 | 2.98% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 9 | $3,755,000 | $417,222 | $12,370 | 3.07% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 11 | $3,295,000 | $299,545 | $9,467 | 2.97% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $3,020,000 | $377,500 | $7,455 | 2.42% |
| STOCKTON, CA (FHA|USDA|VA) | 10 | $2,940,000 | $294,000 | $11,864 | 2.88% |
| Vernal, UT (FHA|USDA|VA) | 12 | $2,760,000 | $230,000 | $5,735 | 2.92% |
| BOISE CITY, ID (FHA|USDA|VA) | 10 | $2,620,000 | $262,000 | $7,707 | 2.90% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $2,285,000 | $253,889 | $8,650 | 2.83% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $2,265,000 | $453,000 | $8,036 | 3.30% |
| VALLEJO, CA (FHA|USDA|VA) | 4 | $2,000,000 | $500,000 | $15,110 | 3.38% |
| FRESNO, CA (FHA|USDA|VA) | 6 | $1,630,000 | $271,667 | $7,077 | 2.85% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $8,599 | 2.84% |
| Cedar City, UT (FHA|USDA|VA) | 7 | $1,595,000 | $227,857 | $6,600 | 3.21% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 7 | $1,585,000 | $226,429 | $7,205 | 3.07% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $9,431 | 2.90% |
| LAFAYETTE, LA (FHA|USDA|VA) | 9 | $1,545,000 | $171,667 | $9,136 | 3.00% |
| YUBA CITY, CA (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $10,177 | 3.06% |
| GREELEY, CO (FHA|USDA|VA) | 4 | $1,240,000 | $310,000 | $8,665 | 2.84% |
| Show Low, AZ (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $6,938 | 2.91% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $7,619 | 2.34% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $6,696 | 2.91% |
| Price, UT (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $3,810 | 3.20% |
| RENO, NV (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $10,367 | 3.29% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $9,773 | 3.46% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $9,166 | 3.08% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $7,999 | 2.63% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $4,758 | 3.65% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $6,717 | 2.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $8,163 | 2.92% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $5,917 | 2.81% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $4,319 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $6,352 | 2.67% |
| TUCSON, AZ (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $6,718 | 2.97% |
| Mountain Home, ID (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $8,446 | 2.63% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $4,420 | 3.08% |
| TWIN FALLS, ID (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,426 | 2.94% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $5,616 | 3.25% |
| Opelousas, LA (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $9,500 | 2.96% |
| TYLER, TX (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $6,002 | 3.13% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $13,711 | 2.88% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $9,877 | 2.88% |
| MERCED, CA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $11,080 | 2.81% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $6,609 | 3.31% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $11,250 | 2.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,902 | 2.69% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,435 | 2.94% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $15,602 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $11,141 | 3.25% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $17,326 | 3.50% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $8,118 | 2.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,091 | 2.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $6,543 | 3.06% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,375 | 3.25% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $17,349 | 2.75% |
| CHICO, CA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $6,559 | 3.69% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,634 | 3.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $5,672 | 2.94% |
| OCALA, FL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $6,304 | 3.13% |
| Sonora, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,192 | 2.88% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $13,695 | 3.38% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,265 | 2.38% |
| FARMINGTON, NM (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,870 | 2.88% |
| Fernley, NV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,007 | 3.25% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $17,141 | 2.75% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $14,100 | 2.88% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,895 | 2.88% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $12,583 | 2.75% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,773 | 2.88% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,622 | 3.50% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,383 | 2.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,612 | 3.63% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $4,544 | 3.19% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,691 | 3.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,830 | 2.50% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,841 | 2.88% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,861 | 3.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,136 | 2.88% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,138 | 4.25% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,148 | 2.88% |
| Craig, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,945 | 2.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,768 | 2.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,138 | 3.38% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,974 | 3.38% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,996 | 2.50% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,192 | 2.38% |
| REDDING, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,706 | 3.63% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,765 | 3.13% |
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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 2021, Direct Mortgage Corp.'s most frequently originated type of loan was Conventional, with 2,512 originations. Their 2nd most popular type was FHA, with 245 originations.
Loan Reason
For 2021, Direct Mortgage Corp.'s most frequently cited loan purpose was Refi, with 1,023 originations. The 2nd most popular reason was Cash Out Refi, with 939 originations.
Loan Duration/Length
For 2021, Direct Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 2,479 originations. The 2nd most popular length was 15 Year, with 249 originations.
Origination Fees/Closing Costs
Direct Mortgage Corp.'s average total fees were $7,728, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,325 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,410 | $455,710,000 | $323,199 |
| 3-4% | 971 | $315,595,000 | $325,021 |
| <2.5% | 447 | $137,835,000 | $308,356 |
| 4-5% | 45 | $6,725,000 | $149,444 |
| 5-6% | 6 | $110,000 | $18,333 |
During 2021, Direct Mortgage Corp.'s average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,410 originations.
Loan Sizing
2021 saw Direct Mortgage Corp. place emphasis on $200k-400k loans with 1,686 originations, totaling $499,190,000 in origination value.
Applicant Income
Direct Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 804 originations. The second most popular income band? $75k-100k, with 654 originations.
Applicant Debt to Income Ratio
Direct Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 536 originations. The next most common DTI ratio? 30-36%, with 461 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.72%
Direct Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination92.22%
Direct Mortgage Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,879 | $915,975,000 | $318,157 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Direct Mortgage, Corp. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Direct Mortgage, Corp. | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |