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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Heber, Provo, Ogden, 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.

    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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    Originations

    102

    Origination Dollar Volume (All Markets)

    $40,510,000

    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) 49 $16,815,000 $343,163 $0 10.64%
    Heber, UT (FHA|USDA|VA) 11 $8,655,000 $786,818 $0 11.98%
    PROVO-OREM, UT (FHA|USDA|VA) 17 $6,605,000 $388,529 $0 10.72%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 17 $5,085,000 $299,118 $0 10.97%
    ST. GEORGE, UT (FHA|USDA|VA) 5 $1,925,000 $385,000 $0 10.80%
    Outside of Metro Areas 2 $1,240,000 $620,000 $0 11.50%
    LOGAN, UT-ID (FHA|USDA|VA) 1 $185,000 $185,000 $0 11.00%
    Sourceone Financial's top markets include Salt Lake City, Heber, Provo, Ogden, 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 102 $40,510,000 $397,157 $0 10.88%

    For 2021, Sourceone Financial's most frequently originated type of loan was Conventional, with 102 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 102 $40,510,000 $397,157 $0 10.88%

    For 2021, Sourceone Financial's most frequently cited loan purpose was Home Purchase, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 102 $40,510,000 $397,157 $0 10.88%

    For 2021, Sourceone Financial's most frequently cited loan duration was Other, with 102 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 102 $40,510,000 $397,157

    During 2021, Sourceone Financial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 48 $12,960,000 $270,000 $0 10.72%
    $100k-200k 20 $3,220,000 $161,000 $0 10.78%
    $400k-600k 20 $9,690,000 $484,500 $0 11.09%
    $1MM+ 7 $9,415,000 $1,345,000 $0 11.57%
    $600k-1MM 7 $5,225,000 $746,429 $0 11.00%

    2021 saw Sourceone Financial place emphasis on $200k-400k loans with 48 originations, totaling $12,960,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 60 $21,070,000 $351,167 $0 10.89%
    White 42 $19,440,000 $462,857 $0 10.87%

    Approval Rates

    Total approvals of all applications
    100.00%

    Sourceone Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    82.35%

    Sourceone Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 102 $40,510,000 $397,157

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    102 $40,510,000 $397,157

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $505,000 $505,000 $0 12.00%
    40-60% 19 $8,535,000 $449,211 $0 10.80%
    60-80% 67 $22,755,000 $339,627 $0 10.72%
    80-100% 8 $4,340,000 $542,500 $0 10.94%
    Over 100% 1 $545,000 $545,000 $0 11.00%
    Under 20% 6 $3,830,000 $638,333 $0 12.67%