We analyzed every closed loan from Proper Rate — 1.6k loans across 2k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Sound
3/5
vs. all lenders
Pull-through
Sound
3/5
closing strength
Product
Exceptional
5/5
FHA · Conventional · VA · Jumbo
Place
Sound
3/5
Multi-Region · 10 mkts
Awards
VA
Superstar
Jumbo
Superstar
Summary
What They Do Well
- Particularly strong in Conventional and VA and Jumbo loans
Explore another lender or local market
Report Card
Proper Rate performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Sound
+28.3 bps above market avg
Pull Through
Closing strength
Sound
Top 60% of lenders
By Loan Product· Specialization by type
Conventional
Strong
Top 40% of lenders
FHA
Sound
Top 60% of lenders
VA
Strong
Top 40% of lenders
Jumbo
Exceptional
Top 20% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Strong
Top 40% of lenders
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 11 markets
Sound
Top 60% of lenders
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 1,369 | 86.0% | +0.298%Above | $1,748Fees | ||||
FHA Loans | 44 | 2.8% | +0.684%Above | $1,579Fees | ||||
VA Loans | 32 | 2.0% | -0.432%Below | $214Credit | ||||
Jumbo Loans | 146 | 9.2% | +0.138%Above | $964Fees |
Conventional
OverallSound
ProductStrong
PricingSound
Pull ThroughSound
Volume1,369
Mix86.0%
Spread
+0.298%Above
Fees
$1,748Fees
FHA Loans
OverallSound
ProductSound
PricingSound
Pull ThroughSound
Volume44
Mix2.8%
Spread
+0.684%Above
Fees
$1,579Fees
VA Loans
OverallStrong
ProductStrong
PricingExceptional
Pull ThroughStrong
Volume32
Mix2.0%
Spread
-0.432%Below
Fees
$214Credit
Jumbo Loans
OverallStrong
ProductExceptional
PricingStrong
Pull ThroughStrong
Volume146
Mix9.2%
Spread
+0.138%Above
Fees
$964Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 1,440 | 90.5% | +0.282%Above | $1,831Fees | ||||
Refinance | 151 | 9.5% | +0.287%Above | $84Credit |
Purchase
OverallSound
ProductStrong
PricingSound
Pull ThroughSound
Volume1,440
Mix90.5%
Spread
+0.282%Above
Fees
$1,831Fees
Refinance
OverallSound
ProductStrong
PricingSound
Pull ThroughSound
Volume151
Mix9.5%
Spread
+0.287%Above
Fees
$84Credit
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,591
Applications
2,369
Volume
$736 million
Pricing & Closing
Avg Rate Spread
+0.283%
vs. market APOR
Avg Net Fees
$1,645
Origination − Credits
Pullthrough Rate
67.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$463,228
Avg Borrower Income
$225,767
Avg Property Value
$634,265
Geographic Coverage
Geographic Performance
Metro Areas
10
markets with activity
States Served
17
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
17Northeast1
NJ
Midwest8
IAILINMIMNMOOHWI
South5
FLNCSCTNTX
West3
AZCACO
Top Metro Areas by Place Specialization Score
Volume 1,200Mix 75.42% of portfolio
92/100
Exceptional
Volume 87Mix 5.47% of portfolio
79/100
StrongVolume 54Mix 3.39% of portfolio
67/100
Strong
Volume 44Mix 2.77% of portfolio
63/100
Strong
Volume 30Mix 1.89% of portfolio
60/100
Sound
Volume 24Mix 1.51% of portfolio
51/100
Sound
Volume 12Mix 0.75% of portfolio
46/100
Sound
Volume 17Mix 1.07% of portfolio
44/100
Sound
Volume 10Mix 0.63% of portfolio
41/100
Sound
Volume 10Mix 0.63% of portfolio
39/100
AcceptableTop States by Place Specialization Score
1
IllinoisState
Volume 1,337Mix 84.04% of portfolio
91/100
Exceptional2
IndianaState
Volume 71Mix 4.46% of portfolio
57/100
Sound3
CaliforniaState
Volume 61Mix 3.83% of portfolio
50/100
Sound4
MichiganState
Volume 41Mix 2.58% of portfolio
50/100
Sound5
WisconsinState
Volume 32Mix 2.01% of portfolio
50/100
Sound6
ColoradoState
Volume 18Mix 1.13% of portfolio
42/100
SoundHow We Rank Lenders
Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.
Our Point System (Max 30 Points)
10/ 30 pts
Pricing
Rate and fee competitiveness (33%)
10/ 30 pts
Pull Through
Reliability in closing loans (33%)
10/ 30 pts
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.