Budget Mortgage Corp. Rates, Fees & Info
Los Angeles, CALEI: 254900HAGON6ZM70CW84
Tax ID: 27-3888083
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Budget Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. Budget Mortgage Corp. has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Jose, San Francisco, Vallejo, and Sacramento among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Budget Mortgage Corp. 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. 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
94Origination Dollar Volume (All Markets)
$46,660,000Top 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) | 61 | $31,005,000 | $508,279 | $0 | 9.02% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 13 | $9,475,000 | $728,846 | $0 | 8.53% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 5 | $1,725,000 | $345,000 | $0 | 9.08% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $1,125,000 | $1,125,000 | $0 | 9.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $0 | 8.35% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $0 | 9.42% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 9.88% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 8.95% |
| MERCED, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 9.00% |
| Shelton, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 9.25% |
| Outside of Metro Areas | 1 | $165,000 | $165,000 | $0 | 10.50% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 10.50% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 9.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 94 | $46,660,000 | $496,383 | $0 | 9.02% |
For 2019, Budget Mortgage Corp.'s most frequently originated type of loan was Conventional, with 94 originations.
Loan Reason
For 2019, Budget Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
For 2019, Budget Mortgage Corp.'s most frequently cited loan duration was Other, with 78 originations. The 2nd most popular length was 15 Year, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 87 | $42,695,000 | $490,747 |
| 7-8% | 5 | $2,865,000 | $573,000 |
| 6-7% | 2 | $1,100,000 | $550,000 |
During 2019, Budget Mortgage Corp.'s average interest rate for loans was 9.08%, while their most frequently originated rate bucket for loans was Over 8%, with 87 originations.
Loan Sizing
2019 saw Budget Mortgage Corp. place emphasis on $100k-200k loans with 18 originations, totaling $2,410,000 in origination value.
Applicant Income
Budget Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $250k+, with 7 originations.
Applicant Debt to Income Ratio
Budget Mortgage Corp. lent most frequently to those with DTI ratios of <20%, with 10 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.14%
Budget Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination74.47%
Budget Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 94 | $46,660,000 | $496,383 |