Directions Equity Mortgage Rates, Fees & Info

SAN ANTONIO, TX

LEI: 549300ZGTXNHL5BKQZ27

Tax ID: 26-0848316

3.2 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Directions Equity is a smaller mortgage company specializing in Home Purchase loans. Directions Equity 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 include San Antonio, Mcallen, Houston, Brownsville, and Dallas among others. Directions Equity 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. Directions Equity is typically a high fee lendor.


Originations

1,591

Origination Dollar Volume (All Markets)

$413,705,000

Relative Rate

Directions Equity 's average 30 year fixed rate mortgage of loans were 3.24%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.09%.

Relative Fees

Directions Equity 's average total fees for a 30 year fixed rate mortgage are $6,286.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1,009 $279,495,000 $277,002 $6,154 3.16%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 291 $60,655,000 $208,436 $6,344 3.31%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 75 $20,625,000 $275,000 $6,342 3.10%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 90 $16,940,000 $188,222 $6,349 3.42%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 35 $11,305,000 $323,000 $6,548 3.28%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 23 $7,425,000 $322,826 $5,751 3.26%
CORPUS CHRISTI, TX (FHA|USDA|VA) 10 $2,560,000 $256,000 $5,320 3.30%
Outside of Metro Areas 11 $2,325,000 $211,364 $5,159 3.34%
ST. GEORGE, UT (FHA|USDA|VA) 4 $1,870,000 $467,500 $4,728 3.41%
LAREDO, TX (FHA|USDA|VA) 5 $1,195,000 $239,000 $5,969 3.25%
Kerrville, TX (FHA|USDA|VA) 3 $1,025,000 $341,667 $6,915 3.54%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $815,000 $271,667 $5,264 2.71%
Heber, UT (FHA|USDA|VA) 1 $705,000 $705,000 $4,983 3.00%
Fredericksburg, TX (FHA|USDA|VA) 2 $670,000 $335,000 $5,637 2.88%
VICTORIA, TX (FHA|USDA|VA) 2 $490,000 $245,000 $5,183 3.00%
Pearsall, TX (FHA|USDA|VA) 2 $450,000 $225,000 $5,875 3.50%
ABILENE, TX (FHA|USDA|VA) 2 $440,000 $220,000 $6,105 3.13%
Uvalde, TX (FHA|USDA|VA) 2 $440,000 $220,000 $3,651 3.06%
Andrews, TX (FHA|USDA|VA) 1 $435,000 $435,000 $4,900 2.88%
Rio Grande City-Roma, TX (FHA|USDA|VA) 3 $435,000 $145,000 $5,797 3.21%
Del Rio, TX (FHA|USDA|VA) 2 $430,000 $215,000 $4,808 3.19%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $425,000 $141,667 $6,656 3.21%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $13,722 3.75%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $350,000 $175,000 $6,095 3.00%
Bay City, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,990 3.38%
Craig, CO (FHA|USDA|VA) 1 $275,000 $275,000 $5,170 3.13%
AMARILLO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,075 2.63%
Beeville, TX (FHA|USDA|VA) 1 $195,000 $195,000 $5,363 3.25%
Eagle Pass, TX (FHA|USDA|VA) 1 $195,000 $195,000 $6,869 4.13%
LONGVIEW, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,134 2.38%
Rockport, TX (FHA|USDA|VA) 1 $185,000 $185,000 $7,024 2.88%
Athens, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,059 3.00%
Kingsville, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,078 2.88%

Directions Equity 's top markets include San Antonio, Mcallen, Houston, Brownsville, and Dallas among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 938 $249,140,000 $265,608 $5,106 3.20%
FHA 480 $103,360,000 $215,333 $7,636 3.31%
VA 169 $60,305,000 $356,834 $7,817 2.93%
USDA 4 $900,000 $225,000 $7,376 3.22%

For the 2021 period, Directions Equity 's most frequently originated loan type of loans were Conventional, with 938 originations. Their 2nd most popular type is FHA, with 480 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,200 $313,730,000 $261,442 $6,510 3.26%
Refi 297 $75,355,000 $253,721 $4,921 2.95%
Cash Out Refi 94 $24,620,000 $261,915 $6,052 3.28%

For the 2021, Directions Equity 's most frequently cited loan purpose of loans were Home Purchase, with 1,200 originations. The 2nd most popular reason of loans were Refi, with 297 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,483 $386,425,000 $260,570 $6,286 3.24%
15 Year 74 $17,740,000 $239,730 $4,749 2.60%
20 Year 22 $5,760,000 $261,818 $4,972 3.17%
Other 10 $3,140,000 $314,000 $4,918 2.80%
10 Year 2 $640,000 $320,000 $5,782 2.50%

For the 2021, Directions Equity 's most frequently cited loan length of loans were 30 Year, with 1,483 originations. The 2nd most popular length of loans were 15 Year, with 74 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 698 $182,740,000 $261,805
$<1k 483 $125,075,000 $258,954
$2k-3k 156 $34,010,000 $218,013
$3k-4k 154 $38,760,000 $251,688
$5k+ 63 $23,885,000 $379,127

$6,286 of loans were Directions Equity 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 698 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 928 $230,180,000 $248,039
2.5-3% 498 $139,490,000 $280,100
<2.5% 108 $32,300,000 $299,074
4-5% 57 $11,735,000 $205,877

During 2021, Directions Equity 's average interest rate of loans were 3.24%, while their most frequently originated rate bucket of loans were 3-4%, with 928 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 844 $230,810,000 $273,472 $6,501 3.16%
$100k-200k 535 $85,845,000 $160,458 $5,299 3.29%
$400k-600k 161 $76,845,000 $477,298 $6,934 3.10%
$100,000 or less 29 $2,335,000 $80,517 $4,487 3.54%
$600k-1MM 18 $13,450,000 $747,222 $12,863 2.88%
$1MM+ 4 $4,420,000 $1,105,000 $8,552 2.94%

2021 saw Directions Equity place emphasis on $200k-400k loans with 844 originations, totaling $230,810,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 449 $97,355,000 $216,826 $6,365 3.24%
$100k-150k 311 $92,035,000 $295,932 $6,221 3.19%
$50k or less 254 $44,490,000 $175,157 $5,535 3.20%
$75k-100k 245 $61,735,000 $251,980 $6,386 3.18%
$150k-250k 236 $83,340,000 $353,136 $6,196 3.17%
$250k+ 87 $32,615,000 $374,885 $6,572 3.23%

Directions Equity lent most frequently to those with incomes in the $50k-75k range, with 449 originations. The second most popular income band? $100k-150k, with 311 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 227 $62,525,000 $275,441 $5,526 3.20%
50-60% 200 $51,180,000 $255,900 $7,822 3.20%
20-30% 194 $52,190,000 $269,021 $5,522 3.08%
44% 87 $23,605,000 $271,322 $6,167 3.26%
49% 80 $21,220,000 $265,250 $6,515 3.21%
40% 73 $19,305,000 $264,452 $5,991 3.30%
47% 70 $16,430,000 $234,714 $6,762 3.27%
45% 70 $17,320,000 $247,429 $6,117 3.23%
43% 69 $17,455,000 $252,971 $6,449 3.26%
42% 62 $15,160,000 $244,516 $5,005 3.25%
41% 60 $14,320,000 $238,667 $5,993 3.20%
37% 60 $15,370,000 $256,167 $6,087 3.38%
46% 60 $14,550,000 $242,500 $6,475 3.26%
48% 58 $15,530,000 $267,759 $6,428 3.23%
38% 55 $13,625,000 $247,727 $6,332 3.22%
39% 54 $15,160,000 $280,741 $6,240 3.21%
36% 46 $12,100,000 $263,043 $7,036 3.28%
<20% 45 $10,535,000 $234,111 $4,664 2.98%
>60% 3 $915,000 $305,000 $6,644 2.83%

Directions Equity lent most frequently to those with DTI ratios of 30-36%, with 227 originations. The next most common DTI ratio? 50-60%, with 200 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,110 $277,200,000 $249,730 $6,108 3.20%
Not provided 349 $100,685,000 $288,496 $6,270 3.20%
Black 81 $21,835,000 $269,568 $7,233 3.26%
Asian 34 $9,430,000 $277,353 $5,998 3.21%
American Indian 9 $2,365,000 $262,778 $5,427 2.96%
Other Asian 2 $740,000 $370,000 $2,164 3.38%
Japanese 2 $550,000 $275,000 $0 4.06%
Vietnamese 1 $325,000 $325,000 $5,914 3.00%
Native Hawaiian 1 $235,000 $235,000 $5,225 3.00%
Asian Indian 1 $175,000 $175,000 $6,009 2.75%
Korean 1 $165,000 $165,000 $2,163 3.00%

Approval Rates

Total approvals of all applications
97.91%

Directions Equity 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
59.12%

Directions Equity has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 1,591 $413,705,000 $260,028

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,591 $413,705,000 $260,028

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 18 $3,440,000 $191,111 $3,997 2.82%
40-60% 89 $20,665,000 $232,191 $5,295 3.03%
60-80% 432 $117,720,000 $272,500 $5,412 3.24%
80-100% 1,013 $259,255,000 $255,928 $6,357 3.22%
Over 100% 38 $12,570,000 $330,789 $13,126 3.00%
Under 20% 1 $55,000 $55,000 $5,026 3.00%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Direct Mortgage Loans, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%