Bench Equity Mortgage Rates, Fees & Info
Mesa, AZLEI: 254900FL0I8OUMMBOZ11
Tax ID: 27-5343827
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Mortgage Data
Review & Overview
Bench Equity is a smaller mortgage company specializing in Home Purchase loans. Bench Equity has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Phoenix, Dallas, Riverside, and Houston among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Bench Equity 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
281Origination Dollar Volume (All Markets)
$128,605,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 75 | $55,075,000 | $734,333 | $0 | 11.77% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 103 | $42,215,000 | $409,854 | $0 | 11.39% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 41 | $11,185,000 | $272,805 | $0 | 12.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 14 | $5,230,000 | $373,571 | $0 | 11.64% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 17 | $3,435,000 | $202,059 | $0 | 12.79% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $2,815,000 | $563,000 | $0 | 11.40% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $2,125,000 | $708,333 | $0 | 12.33% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $0 | 12.33% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $0 | 11.67% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $0 | 11.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $0 | 11.90% |
| LOGAN, UT-ID (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $0 | 12.33% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 14.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 12.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 10.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 11.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 13.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 11.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 281 | $128,605,000 | $457,669 | $0 | 11.76% |
For 2023, Bench Equity's most frequently originated type of loan was Conventional, with 281 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 255 | $109,745,000 | $430,373 | $0 | 11.75% |
| Cash Out Refi | 26 | $18,860,000 | $725,385 | $0 | 11.79% |
For 2023, Bench Equity's most frequently cited loan purpose was Home Purchase, with 255 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 281 | $128,605,000 | $457,669 | $0 | 11.76% |
For 2023, Bench Equity's most frequently cited loan duration was Other, with 281 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 281 | $128,605,000 | $457,669 |
During 2023, Bench Equity's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 281 originations.
Loan Sizing
2023 saw Bench Equity place emphasis on $200k-400k loans with 102 originations, totaling $28,680,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Bench Equity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.70%
Bench Equity has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 281 | $128,605,000 | $457,669 |