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, San Diego, and Salt Lake City among others. We have data for 20 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.
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Originations
461Origination Dollar Volume (All Markets)
$214,385,000Top 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) | 143 | $101,025,000 | $706,469 | $0 | 11.01% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 200 | $71,190,000 | $355,950 | $0 | 10.61% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 41 | $9,115,000 | $222,317 | $0 | 11.15% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 10 | $5,940,000 | $594,000 | $0 | 10.40% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 11 | $4,515,000 | $410,455 | $0 | 10.95% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 10 | $3,990,000 | $399,000 | $0 | 11.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 7 | $3,565,000 | $509,286 | $0 | 11.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $3,205,000 | $641,000 | $0 | 10.50% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 9 | $2,765,000 | $307,222 | $0 | 10.56% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,770,000 | $885,000 | $0 | 10.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $0 | 11.00% |
| LOGAN, UT-ID (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $0 | 11.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $0 | 11.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $0 | 11.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 11.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 12.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 11.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 12.50% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 11.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 10.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 461 | $214,385,000 | $465,043 | $0 | 10.84% |
For 2022, Bench Equity's most frequently originated type of loan was Conventional, with 461 originations.
Loan Reason
For 2022, Bench Equity's most frequently cited loan purpose was Home Purchase, with 405 originations. The 2nd most popular reason was Refi, with 33 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 459 | $213,705,000 | $465,588 | $0 | 10.85% |
| 1 Year | 2 | $680,000 | $340,000 | $0 | 10.13% |
For 2022, Bench Equity's most frequently cited loan duration was Other, with 459 originations. The 2nd most popular length was 1 Year, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 461 | $214,385,000 | $465,043 |
During 2022, Bench Equity's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 461 originations.
Loan Sizing
2022 saw Bench Equity place emphasis on $200k-400k loans with 164 originations, totaling $47,390,000 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 origination96.75%
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 | 461 | $214,385,000 | $465,043 |