Directions Equity Mortgage Rates, Fees & InfoSAN ANTONIO, TX
Tax ID: 26-0848316
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewDirections 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 by origination volume include: San Antonio, Mcallen, Houston, Modesto, and Dallas among others. We have data for 34 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. They have a below average pick rate when compared to similar lenders. Directions Equity is typically a high 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 about average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.99%||9/25/23|
|30 Year Conventional Refi||6.65%||9/25/23|
|30 Year Cash-out Refi||7.06%||9/25/23|
|30 Year FHA Purchase||7.78%||9/25/23|
|30 Year FHA Refi||7.31%||9/25/23|
|30 Year VA Purchase||6.45%||9/25/23|
|30 Year VA Refi||6.14%||9/25/23|
|30 Year USDA Purchase||7.35%||9/25/23|
|15 Year Conventional Purchase||6.37%||9/25/23|
|15 Year Conventional Refi||6.32%||9/25/23|
|15 Year Cash-out Refi||6.32%||9/25/23|
|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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$264,375,000
Directions Equity's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.28%.
Relative Fees (Closing Costs)
Directions Equity's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,036.
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 $4,750.
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)||470||$143,540,000||$305,404||$9,254||4.94%|
|MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA)||211||$49,765,000||$235,853||$8,531||4.92%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||43||$13,185,000||$306,628||$8,467||4.67%|
|MODESTO, CA (FHA|USDA|VA)||35||$11,415,000||$326,143||$7,763||5.15%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||32||$11,070,000||$345,938||$9,665||4.42%|
|BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA)||50||$9,250,000||$185,000||$8,008||5.00%|
|MIDLAND, TX (FHA|USDA|VA)||19||$4,305,000||$226,579||$7,140||6.04%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||9||$4,035,000||$448,333||$9,337||4.64%|
|Outside of Metro Areas||12||$2,780,000||$231,667||$7,107||4.90%|
|CORPUS CHRISTI, TX (FHA|USDA|VA)||8||$2,670,000||$333,750||$12,774||5.53%|
|ODESSA, TX (FHA|USDA|VA)||9||$2,015,000||$223,889||$7,127||6.29%|
|STOCKTON, CA (FHA|USDA|VA)||5||$1,735,000||$347,000||$9,372||6.03%|
|Rockport, TX (FHA|USDA|VA)||2||$1,060,000||$530,000||$11,100||3.88%|
|Rio Grande City-Roma, TX (FHA|USDA|VA)||4||$900,000||$225,000||$13,007||5.38%|
|Andrews, TX (FHA|USDA|VA)||2||$740,000||$370,000||$12,724||5.94%|
|Granbury, TX (FHA|USDA|VA)||2||$680,000||$340,000||$10,636||5.75%|
|Pearsall, TX (FHA|USDA|VA)||3||$595,000||$198,333||$6,933||6.25%|
|Bonham, TX (FHA|USDA|VA)||2||$460,000||$230,000||$0||5.56%|
|COLLEGE STATION-BRYAN, TX (FHA|USDA|VA)||2||$390,000||$195,000||$3,840||6.06%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$385,000||$385,000||$9,219||6.88%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||1||$385,000||$385,000||$17,703||6.13%|
|BAKERSFIELD, CA (FHA|USDA|VA)||1||$355,000||$355,000||$750||6.75%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||1||$335,000||$335,000||$16,022||5.75%|
|MERCED, CA (FHA|USDA|VA)||1||$305,000||$305,000||$7,956||6.38%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$285,000||$285,000||$6,905||6.13%|
|Alice, TX (FHA|USDA|VA)||1||$245,000||$245,000||$9,691||7.25%|
|Fredericksburg, TX (FHA|USDA|VA)||1||$245,000||$245,000||$5,478||4.38%|
|Huntsville, TX (FHA|USDA|VA)||1||$245,000||$245,000||$8,225||6.25%|
|LONGVIEW, TX (FHA|USDA|VA)||1||$235,000||$235,000||$10,719||5.38%|
|LAREDO, TX (FHA|USDA|VA)||1||$185,000||$185,000||$5,385||3.25%|
|SHERMAN-DENISON, TX (FHA|USDA|VA)||1||$175,000||$175,000||$7,191||3.63%|
|WACO, TX (FHA|USDA|VA)||1||$175,000||$175,000||$9,407||4.63%|
|TEXARKANA, TX-AR (FHA|USDA|VA)||1||$115,000||$115,000||$4,300||3.50%|
|Del Rio, TX (FHA|USDA|VA)||1||$115,000||$115,000||$0||5.50%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Directions Equity's most frequently originated type of loan was Conventional, with 571 originations. Their 2nd most popular type was FHA, with 259 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||55||$13,075,000||$237,727||$7,523||4.71%|
For 2022, Directions Equity's most frequently cited loan purpose was Home Purchase, with 793 originations. The 2nd most popular reason was Refi, with 87 originations.
For 2022, Directions Equity's most frequently cited loan duration was 30 Year, with 885 originations. The 2nd most popular length was 15 Year, with 37 originations.
Origination Fees/Closing Costs
Directions Equity's average total fees were $9,036, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 198 originations.
During 2022, Directions Equity's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 5-6%, with 297 originations.
2022 saw Directions Equity place emphasis on $200k-400k loans with 529 originations, totaling $149,255,000 in origination value.
Directions Equity lent most frequently to those with incomes in the $50k-75k range, with 225 originations. The second most popular income band? $100k-150k, with 197 originations.
Applicant Debt to Income Ratio
Directions Equity lent most frequently to those with DTI ratios of 50-60%, with 150 originations. The next most common DTI ratio? 30-36%, with 120 originations.
Approval RatesTotal approvals of all applications
Directions Equity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Directions Equity has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|