Louie Loans Mortgage Rates, Fees & Info
San Diego, CALEI: 254900FFMW7SFHY20068
Tax ID: 27-0530698
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Mortgage Data
Review & Overview
Louie Loans is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Louie Loans has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Los Angeles, Riverside, Modesto, and Bakersfield among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Louie Loans has an above average approval rate when compared to the average across all lenders.
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Originations
67Origination Dollar Volume (All Markets)
$29,525,000Top 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 |
|---|---|---|---|---|---|
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 39 | $17,875,000 | $458,333 | $26,948 | 9.64% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 23 | $10,885,000 | $473,261 | $0 | 9.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 9.50% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 9.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 9.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.50% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 67 | $29,525,000 | $440,672 | $26,948 | 9.63% |
For 2018, Louie Loans's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
For 2018, Louie Loans's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Cash Out Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 66 | $29,050,000 | $440,152 | $26,948 | 9.65% |
| 30+ year | 1 | $475,000 | $475,000 | $0 | 8.50% |
For 2018, Louie Loans's most frequently cited loan duration was Other, with 66 originations. The 2nd most popular length was 30+ year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 1 | $2,105,000 | $2,105,000 |
Louie Loans's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 61 | $26,035,000 | $426,803 |
During 2018, Louie Loans's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 61 originations.
Loan Sizing
2018 saw Louie Loans place emphasis on $200k-400k loans with 29 originations, totaling $8,845,000 in origination value.
Applicant Income
Louie Loans lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 37% | 1 | $2,105,000 | $2,105,000 | $26,948 | 9.50% |
Louie Loans lent most frequently to those with DTI ratios of 37%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Louie Loans 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 | 67 | $29,525,000 | $440,672 |