Directions Equity Mortgage Rates, Fees & Info

SAN ANTONIO, TX

LEI: 549300ZGTXNHL5BKQZ27

Tax ID: 26-0848316

5 stars - Updated: 6/16/24 - out of 5 stars, based on 25 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Directions Equity is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Directions Equity has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: San Antonio, Mcallen, Midland, Brownsville, and Odessa among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)

Directions Equity has an above average approval rate when compared to the average across all lenders. Directions Equity 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.99% 6/16/24
30 Year Conventional Refi 6.65% 6/16/24
30 Year Cash-out Refi 7.06% 6/16/24
30 Year FHA Purchase 7.78% 6/16/24
30 Year FHA Refi 7.31% 6/16/24
30 Year VA Purchase 6.45% 6/16/24
30 Year VA Refi 6.14% 6/16/24
30 Year USDA Purchase 7.35% 6/16/24
15 Year Conventional Purchase 6.37% 6/16/24
15 Year Conventional Refi 6.32% 6/16/24
15 Year Cash-out Refi 6.32% 6/16/24
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.

Directions Equity Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Directions Equity. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

647

Origination Dollar Volume (All Markets)

$187,285,000
Show all (9) awards

Relative Rate

Directions Equity's average 30 year fixed mortgage rate was 6.55%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.07%.

Relative Fees (Closing Costs)

Directions Equity's average total fees/closing costs for a 30 year fixed rate mortgage were $8,095.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 257 $80,185,000 $312,004 $7,986 6.21%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 135 $35,365,000 $261,963 $9,502 6.70%
MIDLAND, TX (FHA|USDA|VA) 60 $15,700,000 $261,667 $6,743 6.94%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 51 $11,905,000 $233,431 $8,562 6.84%
ODESSA, TX (FHA|USDA|VA) 48 $10,990,000 $228,958 $5,961 6.93%
MODESTO, CA (FHA|USDA|VA) 20 $6,340,000 $317,000 $7,982 6.99%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 19 $5,235,000 $275,526 $8,630 6.92%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 6 $2,670,000 $445,000 $8,445 6.81%
Outside of Metro Areas 5 $2,345,000 $469,000 $11,461 6.97%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $2,250,000 $375,000 $8,508 6.87%
CORPUS CHRISTI, TX (FHA|USDA|VA) 6 $2,040,000 $340,000 $9,150 6.64%
LAS CRUCES, NM (FHA|USDA|VA) 6 $1,890,000 $315,000 $3,610 4.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,545,000 $515,000 $9,934 6.74%
Kerrville, TX (FHA|USDA|VA) 2 $1,350,000 $675,000 $8,604 6.88%
EL PASO, TX (FHA|USDA|VA) 4 $1,120,000 $280,000 $8,017 5.27%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $805,000 $805,000 $14,838 6.50%
CHICO, CA (FHA|USDA|VA) 1 $635,000 $635,000 $12,628 6.50%
LUBBOCK, TX (FHA|USDA|VA) 1 $505,000 $505,000 $6,014 6.62%
MERCED, CA (FHA|USDA|VA) 1 $485,000 $485,000 $9,546 6.25%
TYLER, TX (FHA|USDA|VA) 1 $485,000 $485,000 $5,607 6.50%
Rio Grande City-Roma, TX (FHA|USDA|VA) 2 $400,000 $200,000 $6,303 7.31%
LAREDO, TX (FHA|USDA|VA) 2 $390,000 $195,000 $7,742 7.06%
STOCKTON, CA (FHA|USDA|VA) 1 $365,000 $365,000 $8,979 6.99%
Sonora, CA (FHA|USDA|VA) 1 $335,000 $335,000 $9,277 6.25%
Andrews, TX (FHA|USDA|VA) 1 $325,000 $325,000 $8,297 5.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $305,000 $305,000 $9,008 6.50%
Bay City, TX (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $255,000 $255,000 $6,506 7.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $3,391 6.25%
Pecos, TX (FHA|USDA|VA) 1 $185,000 $185,000 $5,700 6.13%
ABILENE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $8,749 5.75%
VICTORIA, TX (FHA|USDA|VA) 1 $165,000 $165,000 $6,918 6.63%
Directions Equity's top markets include San Antonio, Mcallen, Midland, Brownsville, and Odessa among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against DIRECTIONS EQUITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Valley First Credit Union
    Similarity Rank: 110
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    ASCENT HOME LENDING, LLC
    Similarity Rank: 440
    Lone Star National Bank
    Similarity Rank: 507
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 284 $73,060,000 $257,254 $8,724 6.60%
    Conventional 274 $83,600,000 $305,109 $7,207 6.75%
    VA 88 $30,350,000 $344,886 $8,235 5.75%
    USDA 1 $275,000 $275,000 $5,216 4.99%

    For 2023, Directions Equity's most frequently originated type of loan was FHA, with 284 originations. Their 2nd most popular type was Conventional, with 274 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 608 $173,350,000 $285,115 $7,833 6.53%
    Refi 33 $12,285,000 $372,273 $12,540 6.59%
    Cash Out Refi 6 $1,650,000 $275,000 $10,544 7.92%

    For 2023, Directions Equity's most frequently cited loan purpose was Home Purchase, with 608 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 640 $185,320,000 $289,563 $8,095 6.55%
    15 Year 3 $795,000 $265,000 $5,633 5.54%
    1 Year 1 $435,000 $435,000 $0 9.50%
    20 Year 1 $235,000 $235,000 $3,391 6.25%
    30+ year 1 $285,000 $285,000 $11,057 7.13%
    Other 1 $215,000 $215,000 $5,027 7.13%

    For 2023, Directions Equity's most frequently cited loan duration was 30 Year, with 640 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 286 $75,190,000 $262,902
    $5k+ 140 $52,470,000 $374,786
    $1k-2k 50 $14,780,000 $295,600
    $3k-4k 46 $12,410,000 $269,783
    $2k-3k 40 $10,050,000 $251,250
    $4k-5k 36 $10,740,000 $298,333

    Directions Equity's average total fees were $8,095, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 286 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 310 $91,230,000 $294,290
    7-8% 142 $39,510,000 $278,239
    5-6% 101 $29,455,000 $291,634
    4-5% 67 $20,545,000 $306,642
    Over 8% 27 $6,545,000 $242,407

    During 2023, Directions Equity's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was 6-7%, with 310 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 442 $125,010,000 $282,828 $8,002 6.51%
    $100k-200k 121 $20,035,000 $165,579 $5,859 6.68%
    $400k-600k 60 $28,240,000 $470,667 $11,229 6.58%
    $600k-1MM 18 $12,460,000 $692,222 $13,389 6.36%
    $100,000 or less 5 $415,000 $83,000 $4,324 7.00%
    $1MM+ 1 $1,125,000 $1,125,000 $0 7.50%

    2023 saw Directions Equity place emphasis on $200k-400k loans with 442 originations, totaling $125,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 180 $54,410,000 $302,278 $7,991 6.57%
    $75k-100k 174 $45,640,000 $262,299 $7,868 6.48%
    $50k-75k 130 $29,520,000 $227,077 $6,678 6.41%
    $150k-250k 98 $36,770,000 $375,204 $10,427 6.63%
    $50k or less 33 $5,695,000 $172,576 $5,836 6.78%
    $250k+ 32 $15,250,000 $476,563 $10,977 6.86%

    Directions Equity lent most frequently to those with incomes in the $100k-150k range, with 180 originations. The second most popular income band? $75k-100k, with 174 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 133 $36,415,000 $273,797 $9,194 6.45%
    30-36% 82 $24,470,000 $298,415 $7,357 6.48%
    20-30% 52 $14,620,000 $281,154 $7,183 6.30%
    45% 35 $9,285,000 $265,286 $7,443 6.62%
    46% 33 $9,045,000 $274,091 $6,623 6.57%
    47% 32 $10,570,000 $330,313 $7,562 6.60%
    49% 31 $7,965,000 $256,935 $7,277 6.48%
    48% 30 $9,120,000 $304,000 $9,721 6.52%
    38% 27 $8,355,000 $309,444 $7,569 6.57%
    43% 26 $10,110,000 $388,846 $9,629 6.51%
    39% 25 $6,855,000 $274,200 $8,121 6.85%
    40% 23 $6,425,000 $279,348 $7,591 6.47%
    42% 21 $6,285,000 $299,286 $7,888 6.70%
    44% 20 $5,800,000 $290,000 $9,120 6.69%
    41% 20 $5,670,000 $283,500 $7,418 6.57%
    37% 19 $5,265,000 $277,105 $8,291 6.64%
    36% 18 $5,430,000 $301,667 $6,277 6.33%
    <20% 12 $3,390,000 $282,500 $8,298 7.21%
    >60% 1 $215,000 $215,000 $0 8.50%

    Directions Equity lent most frequently to those with DTI ratios of 50-60%, with 133 originations. The next most common DTI ratio? 30-36%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 477 $135,245,000 $283,532 $8,168 6.66%
    Not provided 109 $33,515,000 $307,477 $7,665 6.00%
    Black 31 $9,815,000 $316,613 $8,851 6.63%
    Asian 11 $3,375,000 $306,818 $5,971 6.67%
    Not applicable 11 $2,795,000 $254,091 $8,020 6.39%
    American Indian 6 $1,980,000 $330,000 $7,786 6.90%
    Asian Indian 2 $560,000 $280,000 $0 6.31%

    Approval Rates

    Total approvals of all applications
    100.00%

    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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 647 $187,285,000 $289,467

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    647 $187,285,000 $289,467

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,850,000 $231,250 $6,472 6.55%
    40-60% 30 $8,360,000 $278,667 $8,055 6.66%
    60-80% 97 $31,145,000 $321,082 $9,102 7.02%
    80-100% 492 $139,940,000 $284,431 $7,767 6.48%
    Over 100% 20 $5,990,000 $299,500 $12,358 5.66%