Bench Equity Mortgage Rates, Fees & Info

Mesa, AZ

LEI: 254900FL0I8OUMMBOZ11

Tax ID: 27-5343827

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
  • Complaints
  • 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

    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, San Diego, Riverside, and Salt Lake City among others. We have data for 14 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 an above average pick rate when compared to similar lenders. They typically have relatively high rates.

    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.

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    Originations

    445

    Origination Dollar Volume (All Markets)

    $197,315,000

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 153 $103,125,000 $674,020 $0 10.81%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 190 $56,960,000 $299,789 $0 10.40%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 29 $14,525,000 $500,862 $0 10.78%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 23 $7,615,000 $331,087 $0 10.88%
    SALT LAKE CITY, UT (FHA|USDA|VA) 11 $3,465,000 $315,000 $0 11.27%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $2,470,000 $617,500 $0 11.63%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $2,450,000 $245,000 $0 11.10%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 9 $1,865,000 $207,222 $0 11.11%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $1,675,000 $335,000 $0 10.80%
    LOGAN, UT-ID (FHA|USDA|VA) 4 $1,120,000 $280,000 $0 11.00%
    PROVO-OREM, UT (FHA|USDA|VA) 3 $905,000 $301,667 $0 11.33%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $475,000 $475,000 $0 11.00%
    GREELEY, CO (FHA|USDA|VA) 1 $385,000 $385,000 $0 10.00%
    TUCSON, AZ (FHA|USDA|VA) 2 $280,000 $140,000 $0 10.00%
    Bench Equity's top markets include Los Angeles, Phoenix, San Diego, Riverside, and Salt Lake City among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 445 $197,315,000 $443,404 $0 10.67%

    For 2021, Bench Equity's most frequently originated type of loan was Conventional, with 445 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 431 $191,625,000 $444,606 $0 10.67%
    Cash Out Refi 8 $3,990,000 $498,750 $0 10.81%
    Refi 6 $1,700,000 $283,333 $0 10.92%

    For 2021, Bench Equity's most frequently cited loan purpose was Home Purchase, with 431 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 439 $195,015,000 $444,226 $0 10.68%
    1 Year 5 $1,705,000 $341,000 $0 10.25%
    30 Year 1 $595,000 $595,000 $0 11.00%

    For 2021, Bench Equity's most frequently cited loan duration was Other, with 439 originations. The 2nd most popular length was 1 Year, with 5 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 445 $197,315,000 $443,404

    During 2021, Bench Equity's average interest rate for loans was 11.00%, while their most frequently originated rate bucket for loans was Over 8%, with 445 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 168 $47,540,000 $282,976 $0 10.64%
    $400k-600k 104 $50,620,000 $486,731 $0 10.74%
    $600k-1MM 84 $62,460,000 $743,571 $0 10.81%
    $100k-200k 55 $8,705,000 $158,273 $0 10.49%
    $1MM+ 20 $27,180,000 $1,359,000 $0 10.79%
    $100,000 or less 14 $810,000 $57,857 $0 10.30%

    2021 saw Bench Equity place emphasis on $200k-400k loans with 168 originations, totaling $47,540,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 215 $87,375,000 $406,395 $0 10.59%
    White 134 $59,130,000 $441,269 $0 10.71%
    Asian 79 $44,215,000 $559,684 $0 10.80%
    Other Asian 7 $2,805,000 $400,714 $0 10.75%
    Black 6 $2,310,000 $385,000 $0 10.67%
    Vietnamese 2 $940,000 $470,000 $0 10.75%
    Asian Indian 1 $285,000 $285,000 $0 11.00%
    American Indian 1 $255,000 $255,000 $0 11.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    98.20%

    Bench Equity has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 445 $197,315,000 $443,404

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    445 $197,315,000 $443,404

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,805,000 $257,857 $0 10.25%
    40-60% 13 $6,095,000 $468,846 $0 11.58%
    60-80% 196 $87,700,000 $447,449 $0 10.51%
    80-100% 217 $97,365,000 $448,687 $0 10.77%
    Over 100% 7 $4,195,000 $599,286 $0 11.04%
    Under 20% 5 $155,000 $31,000 $0 10.20%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OZK Other type of mortgage Closing on a mortgage 1 100.0%