Selfreliance Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300XZ4R55J9UKB235
Tax ID: 36-2259531
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Mortgage Data
Review & Overview
Selfreliance is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Selfreliance has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Detroit, New York, Michigan City, and Bloomington among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Selfreliance has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
281Origination Dollar Volume (All Markets)
$88,115,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 225 | $78,125,000 | $347,222 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 32 | $4,850,000 | $151,563 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 9 | $2,255,000 | $250,556 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $750,000 | $187,500 | $0 | 0.00% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| MADISON, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 281 | $88,115,000 | $313,577 | $0 | 0.00% |
For 2020, Selfreliance's most frequently originated type of loan was Conventional, with 281 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 100 | $21,370,000 | $213,700 | $0 | 0.00% |
| Cash Out Refi | 97 | $43,495,000 | $448,402 | $0 | 0.00% |
| Home Purchase | 84 | $23,250,000 | $276,786 | $0 | 0.00% |
For 2020, Selfreliance's most frequently cited loan purpose was Refi, with 100 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 281 | $88,115,000 | $313,577 | $0 | 0.00% |
For 2020, Selfreliance's most frequently cited loan duration was Other, with 281 originations.
Loan Sizing
2020 saw Selfreliance place emphasis on $100k-200k loans with 104 originations, totaling $15,470,000 in origination value.
Applicant Income
Selfreliance lent most frequently to those with incomes in the $50k-75k range, with 65 originations. The second most popular income band? $50k or less, with 58 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 281 | $88,115,000 | $313,577 | $0 | 0.00% |
Selfreliance lent most frequently to those with DTI ratios of Exempt%, with 281 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 279 | $86,765,000 | $310,986 | $0 | 0.00% |
| Not applicable | 2 | $1,350,000 | $675,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.57%
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 origination76.87%
Selfreliance has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 281 | $88,115,000 | $313,577 |