Sourceone Financial Mortgage Rates, Fees & Info

Alpine, UT

LEI: 254900DK1GHKA4PVWQ72

Tax ID: 20-0991349

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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, Ogden, and Provo among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

64

Origination Dollar Volume (All Markets)

$14,760,000

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) 39 $8,465,000 $217,051 $0 10.87%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 16 $3,710,000 $231,875 $0 10.72%
PROVO-OREM, UT (FHA|USDA|VA) 9 $2,585,000 $287,222 $0 10.89%
Sourceone Financial's top markets include Salt Lake City, Ogden, and Provo among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 64 $14,760,000 $230,625 $0 10.84%

    For 2020, Sourceone Financial's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $14,760,000 $230,625 $0 10.84%

    For 2020, Sourceone Financial's most frequently cited loan purpose was Home Purchase, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 64 $14,760,000 $230,625 $0 10.84%

    For 2020, Sourceone Financial's most frequently cited loan duration was Other, with 64 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 64 $14,760,000 $230,625

    During 2020, Sourceone Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $5,175,000 $166,935 $0 10.77%
    $200k-400k 26 $6,770,000 $260,385 $0 11.06%
    $400k-600k 4 $1,910,000 $477,500 $0 10.50%
    $100,000 or less 2 $150,000 $75,000 $0 10.00%
    $600k-1MM 1 $755,000 $755,000 $0 10.00%

    2020 saw Sourceone Financial place emphasis on $100k-200k loans with 31 originations, totaling $5,175,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 46 $10,270,000 $223,261 $0 10.74%
    White 18 $4,490,000 $249,444 $0 11.08%

    Approval Rates

    Total approvals of all applications
    72.45%

    Sourceone Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.06%

    Sourceone Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 64 $14,760,000 $230,625

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,260,000 $630,000
    Single Family (1-4 Units):Site-Built 62 $13,500,000 $217,742

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 10 $1,440,000 $144,000 $0 10.65%
    60-80% 52 $12,850,000 $247,115 $0 10.85%
    80-100% 2 $470,000 $235,000 $0 11.50%