What loan types does PROPER RATE, LLC offer?

PROPER RATE, LLC offers the following mortgage loan types: FHA, Conventional, VA, Jumbo. Each product has its own pricing score and performance metrics.

Where does PROPER RATE, LLC offer mortgages?

PROPER RATE, LLC offers mortgages in 17 states: AZ, CA, CO, FL, IA, IL, IN, MI, MN, MO, NC, NJ, OH, SC, TN, TX, WI.

How competitive are PROPER RATE, LLC's mortgage rates?

PROPER RATE, LLC has an overall pricing score of 46.7/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is PROPER RATE, LLC?

PROPER RATE, LLC is a Independent Mortgage Company headquartered in Wilmington, DE.

Unclaimed

Proper Rate, LLC

Independent Mortgage Company•Wilmington, DE•Direct to Consumer

We analyzed every closed loan from Proper Rate — 1.6k loans across 2k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.

Pricing

Sound

vs. all lenders

Pull Through

Sound

closing strength

Products

Exceptional

FHA · Conventional · VA · Jumbo

Place

Sound

Multi-Region · 10 mkts

Safe Rate Awards⭐VA Superstar⭐Jumbo Superstar

Shopping for a Mortgage?

Save Proper Rate or ask our AI assistant to explore your options.

Safe Rate's Summary

What They Do Well

Particularly strong in Conventional and VA and Jumbo loans

Explore another lender or local market

Report Card

Proper Rate, LLC performance at a glance

Category	Score	vs. Peers
Overall Performance· Pricing & closing strength
Pricing Rate competitiveness	Sound	Industry Standard +28.3 bps above market avg
Pull Through Closing strength	Sound	Industry Standard Top 60% of lenders
By Loan Product· Specialization by type
Conventional	Strong	Highly Competitive Top 40% of lenders
FHA	Sound	Industry Standard Top 60% of lenders
VA	Strong	Highly Competitive Top 40% of lenders
Jumbo	Exceptional	Market Leader Top 20% of lenders
By Loan Purpose· Transaction purpose mix
Purchase	Strong	Highly Competitive Top 40% of lenders
Refinance	Strong	Highly Competitive Top 40% of lenders
By Location· Geographic coverage
Geographic Reach Coverage footprint	Sound	Industry Standard Top 60% of lenders Multi-Regional11 markets

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Sound	Strong	Sound	Sound	1,369	86.0%	+0.298%Above	$1,748Fees
FHA Loans	Sound	Sound	Sound	Sound	44	2.8%	+0.684%Above	$1,579Fees
VA Loans	Strong	Strong	Exceptional	Strong	32	2.0%	-0.432%Below	$214Credit
Jumbo Loans	Strong	Exceptional	Strong	Strong	146	9.2%	+0.138%Above	$964Fees

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Sound	Strong	Sound	Sound	1,440	90.5%	+0.282%Above	$1,831Fees
Refinance	Sound	Strong	Sound	Sound	151	9.5%	+0.287%Above	$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

States Served

We count Washington DC as a state

Avg Place Specialization

Sound

States with Loan Originations

AZCACOFLIAILINMIMNMONCNJOHSCTNTXWI

Top Metro Areas by Place Specialization Score

Chicago, ILMSA

Volume: 1,200Mix: 75.42%of portfolio

Place

Exceptional

Lake County, IL, ILMSA

Volume: 87Mix: 5.47%of portfolio

Place

Strong

Lake County, INMSA

Volume: 54Mix: 3.39%of portfolio

Place

Strong

Elgin, IL, ILMSA

Volume: 44Mix: 2.77%of portfolio

Place

Strong

Niles, MI, MIMSA

Volume: 30Mix: 1.89%of portfolio

Place

Sound

San Jose, CAMSA

Volume: 24Mix: 1.51%of portfolio

Place

Sound

Michigan City, INMSA

Volume: 12Mix: 0.75%of portfolio

Place

Sound

Denver, COMSA

Volume: 17Mix: 1.07%of portfolio

Place

Sound

Stockton, CAMSA

Volume: 10Mix: 0.63%of portfolio

Place

Sound

Milwaukee, WIMSA

Volume: 10Mix: 0.63%of portfolio

Place

Acceptable

Top States by Place Specialization Score

ILState

Volume: 1,337Mix: 84.04%of portfolio

Place

Exceptional

INState

Volume: 71Mix: 4.46%of portfolio

Place

Sound

CAState

Volume: 61Mix: 3.83%of portfolio

Place

Sound

MIState

Volume: 41Mix: 2.58%of portfolio

Place

Sound

WIState

Volume: 32Mix: 2.01%of portfolio

Place

Sound

COState

Volume: 18Mix: 1.13%of portfolio

Place

Sound

How We Rank Lenders

Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

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.

Looking for a different lender?

Are you the owner of Proper Rate, LLC?

Claim this profile to add your business logo, highlight verified loan officers, collect verified reviews, and customize your marketing presence.

Claim this Profile

The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

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.