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
Promptness
Not enough data
—/5
No quote responses measured yet
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
3/5
Pull Through
Closing strength
Sound
Top 60% of lenders
3/5
By Loan Product· Specialization by type
Conventional
1,369 loans · 0.30% above market
Strong
Top 40% of lenders
4/5
FHA
44 loans · 0.68% above market
Sound
Top 60% of lenders
3/5
VA
32 loans · 0.43% below market
Strong
Top 40% of lenders
4/5
Jumbo
146 loans · 0.14% above market
Exceptional
Top 20% of lenders
5/5
By Loan Purpose· Transaction purpose mix
Purchase
1,440 loans · 0.28% above market
Strong
Top 40% of lenders
4/5
Refinance
151 loans · 0.29% above market
Strong
Top 40% of lenders
4/5
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 11 markets
Sound
Top 60% of lenders
3/5
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
17Full-year 2024 · HMDALoans originated
< 5050–100100+None
Northeast1
NJ
Midwest8
IAILINMIMNMOOHWI
South5
FLNCSCTNTX
West3
AZCACO
Top Metro Areas by Place Specialization Score
Top States by Place Specialization Score
How We Rank Lenders
Our rankings use an equal-weight average of scores across the 5 Ps — Pricing, Product, Pull-Through, and Place — with lender promptness blending in as the fifth once a lender has responded to real shopper quote requests.
Our Point System (Max 50 Points)
10/ 50 pts
Pricing
How competitively a lender prices vs. the market benchmark (20%).
10/ 50 pts
Product
Performance on your specific loan type (20%).
10/ 50 pts
Pull Through
How reliably a lender closes the loans it starts (20%).
10/ 50 pts
Place
Depth of a lender's expertise in your local market (20%).
10/ 50 pts
Promptness
How quickly a lender answers real quote requests — blended in once they respond (20%).
Champion(80%+ = 40-50 points)
Superstar(60-79% = 30-39 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.