Selfreliance Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300XZ4R55J9UKB235
Tax ID: 36-2259531
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
303Origination Dollar Volume (All Markets)
$96,775,000Top 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 applications97.28%
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 origination81.53%
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 |
