Clearpath Lending Mortgage Interest Rate and Cost Review

Is Clearpath Lending a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Clearpath Lending with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.03%)
Loan Related Closing Costslower than average (-$307)
National Rate and Closing Cost Rating(3.5)

On average, Clearpath Lending’s interest rates were similar to those of other lenders (+0.03%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$307. Overall, combining interest rates and closing costs we estimate that Clearpath Lending tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Clearpath Lending’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Clearpath Lending was most active in:

  1. Phoenix, AZ
  2. Los Angeles, CA
  3. Las Vegas, NV
  4. Atlanta, GA
  5. Chicago, IL

You can click through to check out Clearpath Lending’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Clearpath Lending’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Clearpath Lending originated Conforming, FHA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAVA
Interest Rate Difference-0.00%-0.00%+0.01%
Loan Related Closing Cost Difference-$35-$23-$16
Cost Adjusted Rate Difference-0.00%-0.00%+0.01%
Star Rating(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.02%+0.05%+0.03%
Loan Related Closing Cost Difference-$147-$506-$187
Cost Adjusted Rate Difference-0.02%+0.02%+0.02%
Star Rating(3.5)(3.5)(3.5)

As a summary, Clearpath Lending is similar to other lenders for Conforming, FHA and VA purchase mortgages. For refinancing, Clearpath Lending is similar to other lenders for Conforming, FHA and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Clearpath Lending:

Registered name: Clearpath Lending
Registered city and state: Irvine, CA, 92618
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Clearpath Lending’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.