Sourceone Financial Mortgage Rates, Fees & Info

Alpine, UT

LEI: 254900DK1GHKA4PVWQ72

Tax ID: 20-0991349

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Mortgage Data

Review & Overview

Sourceone Financial is a smaller mortgage company specializing in Home Purchase loans. Sourceone Financial has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Provo, Ogden, Vernal, and St. George among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sourceone Financial has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

118

Origination Dollar Volume (All Markets)

$21,560,000

Top 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
SALT LAKE CITY, UT (FHA|USDA|VA) 68 $12,810,000 $188,382 $0 10.65%
PROVO-OREM, UT (FHA|USDA|VA) 26 $5,440,000 $209,231 $0 10.71%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 14 $2,010,000 $143,571 $0 10.93%
Vernal, UT (FHA|USDA|VA) 4 $460,000 $115,000 $0 10.00%
ST. GEORGE, UT (FHA|USDA|VA) 3 $445,000 $148,333 $0 12.00%
Heber, UT (FHA|USDA|VA) 2 $350,000 $175,000 $0 10.50%
Outside of Metro Areas 1 $45,000 $45,000 $0 12.00%
Sourceone Financial's top markets include Salt Lake City, Provo, Ogden, Vernal, and St. George among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 118 $21,560,000 $182,712 $0 10.72%

    For 2018, Sourceone Financial's most frequently originated type of loan was Conventional, with 118 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $17,340,000 $180,625 $0 10.74%
    Refi 21 $4,095,000 $195,000 $0 10.57%
    Cash Out Refi 1 $125,000 $125,000 $0 12.00%

    For 2018, Sourceone Financial's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 117 $21,455,000 $183,376 $0 10.72%
    1 Year 1 $105,000 $105,000 $0 11.00%

    For 2018, Sourceone Financial's most frequently cited loan duration was Other, with 117 originations. The 2nd most popular length was 1 Year, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 118 $21,560,000 $182,712

    During 2018, Sourceone Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 74 $10,620,000 $143,514 $0 10.76%
    $200k-400k 33 $8,465,000 $256,515 $0 10.75%
    $100,000 or less 7 $495,000 $70,714 $0 10.43%
    $400k-600k 4 $1,980,000 $495,000 $0 10.25%

    2018 saw Sourceone Financial place emphasis on $100k-200k loans with 74 originations, totaling $10,620,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 82 $14,950,000 $182,317 $0 10.56%
    White 36 $6,610,000 $183,611 $0 11.08%

    Approval Rates

    Total approvals of all applications
    93.71%

    Sourceone Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.44%

    Sourceone Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 118 $21,560,000 $182,712

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $525,000 $525,000
    Single Family (1-4 Units):Site-Built 117 $21,035,000 $179,786

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 9 $1,415,000 $157,222 $0 10.78%
    60-80% 102 $18,800,000 $184,314 $0 10.68%
    80-100% 7 $1,345,000 $192,143 $0 11.29%