Selfreliance Mortgage Rates, Fees & Info

Chicago, IL

LEI: 549300XZ4R55J9UKB235

Tax ID: 36-2259531

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Selfreliance is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Selfreliance has a high proportion of conventional loans. Their top markets include Chicago, New York, Detroit, Niles, and Philadelphia among others. Selfreliance has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

303

Origination Dollar Volume (All Markets)

$96,775,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 242 $81,170,000 $335,413 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 19 $5,655,000 $297,632 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 28 $4,820,000 $172,143 $0 0.00%
NILES, MI (FHA|USDA|VA) 3 $1,385,000 $461,667 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $585,000 $585,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $580,000 $290,000 $0 0.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
Outside of Metro Areas 2 $380,000 $190,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
ANN ARBOR, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%

Selfreliance's top markets include Chicago, New York, Detroit, Niles, and Philadelphia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 303 $96,775,000 $319,389 $0 0.00%

For the 2021 period, Selfreliance's most frequently originated loan type of loans were Conventional, with 303 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 115 $27,515,000 $239,261 $0 0.00%
Home Purchase 112 $35,520,000 $317,143 $0 0.00%
Cash Out Refi 75 $33,555,000 $447,400 $0 0.00%
Home Improvement 1 $185,000 $185,000 $0 0.00%

For the 2021, Selfreliance's most frequently cited loan purpose of loans were Refi, with 115 originations. The 2nd most popular reason of loans were Home Purchase, with 112 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 303 $96,775,000 $319,389 $0 0.00%

For the 2021, Selfreliance's most frequently cited loan length of loans were Other, with 303 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 107 $30,155,000 $281,822 $0 0.00%
$100k-200k 106 $16,100,000 $151,887 $0 0.00%
$400k-600k 29 $13,435,000 $463,276 $0 0.00%
$100,000 or less 27 $2,115,000 $78,333 $0 0.00%
$600k-1MM 19 $14,875,000 $782,895 $0 0.00%
$1MM+ 15 $20,095,000 $1,339,667 $0 0.00%

2021 saw Selfreliance place emphasis on $200k-400k loans with 107 originations, totaling $30,155,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 73 $14,645,000 $200,616 $0 0.00%
$50k or less 68 $10,710,000 $157,500 $0 0.00%
$100k-150k 40 $12,420,000 $310,500 $0 0.00%
$75k-100k 40 $9,740,000 $243,500 $0 0.00%
$150k-250k 23 $8,295,000 $360,652 $0 0.00%
$250k+ 18 $10,270,000 $570,556 $0 0.00%

Selfreliance lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $50k or less, with 68 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 303 $96,775,000 $319,389 $0 0.00%

Selfreliance lent most frequently to those with DTI ratios of Exempt%, with 303 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 261 $65,255,000 $250,019 $0 0.00%
Not applicable 30 $27,190,000 $906,333 $0 0.00%
Not provided 10 $3,760,000 $376,000 $0 0.00%
Asian 1 $425,000 $425,000 $0 0.00%
Black 1 $145,000 $145,000 $0 0.00%

Approval Rates

Total approvals of all applications
97.28%

Selfreliance has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
81.53%

Selfreliance has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 303 $96,775,000 $319,389

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
303 $96,775,000 $319,389