Logan Finance Corporation Mortgage Rates, Fees & Info
Blytheville, ARLEI: 2549002VH9C0PKB8K153
Tax ID: 71-0232620
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Mortgage Data
Review & Overview
Logan Finance Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Logan Finance Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Blytheville, Jonesboro, and Paragould among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Logan Finance Corporation has an above average approval rate when compared to the average across all lenders. Logan Finance Corporation is typically an average 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.85% | 11/22/24 |
| 30 Year Conventional Refi | 6.46% | 11/22/24 |
| 30 Year Cash-out Refi | 7.60% | 11/22/24 |
| 30 Year VA Purchase | 5.89% | 11/22/24 |
| 15 Year Conventional Purchase | 6.26% | 11/22/24 |
| 15 Year FHA Refi | 5.68% | 11/22/24 |
| 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. | ||
Logan Finance Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
17Origination Dollar Volume (All Markets)
$2,465,000Top Markets
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 |
|---|---|---|---|---|---|
| Blytheville, AR (FHA|USDA|VA) | 14 | $1,740,000 | $124,286 | $5,522 | 4.43% |
| JONESBORO, AR (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $8,478 | 4.50% |
| Paragould, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $10,300 | 4.50% |
Product Mix
For 2018, Logan Finance Corporation's most frequently originated type of loan was Conventional, with 11 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2018, Logan Finance Corporation's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 15 | $2,315,000 | $154,333 | $6,352 | 4.49% |
| 10 Year | 2 | $150,000 | $75,000 | $4,643 | 4.06% |
For 2018, Logan Finance Corporation's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 10 Year, with 2 originations.
Origination Fees/Closing Costs
Logan Finance Corporation's average total fees were $6,352, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 16 | $2,360,000 | $147,500 |
| 3-4% | 1 | $105,000 | $105,000 |
During 2018, Logan Finance Corporation's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.
Loan Sizing
2018 saw Logan Finance Corporation place emphasis on $100,000 or less loans with 8 originations, totaling $550,000 in origination value.
Applicant Income
Logan Finance Corporation lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $50k or less, with 4 originations.
Applicant Debt to Income Ratio
Logan Finance Corporation lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 15 | $2,325,000 | $155,000 | $6,464 | 4.42% |
| Black | 2 | $140,000 | $70,000 | $3,799 | 4.63% |
Approval Rates
Total approvals of all applications100.00%
Logan Finance Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 17 | $2,465,000 | $145,000 |