Sourceone Financial Mortgage Rates, Fees & Info
Alpine, UTLEI: 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
118Origination Dollar Volume (All Markets)
$21,560,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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 applications93.71%
Sourceone Financial has an average approval rate.
Pick Rate
Approvals leading to origination86.44%
Sourceone Financial has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 118 | $21,560,000 | $182,712 |