Encompass Lending Group Lp Mortgage Rates, Fees & Info
Katy, TXLEI: 254900I68BOSEM149Q58
Tax ID: 26-2644338
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Mortgage Data
Review & Overview
Encompass Lending Group Lp is a smaller mortgage company specializing in Home Purchase loans. Encompass Lending Group Lp has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Houston, Dallas, Austin, San Antonio, and St. Louis among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Encompass Lending Group Lp 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. Encompass Lending Group Lp is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.92% | 4/21/24 |
| 30 Year Conventional Refi | 6.65% | 4/21/24 |
| 30 Year Cash-out Refi | 6.78% | 4/21/24 |
| 30 Year FHA Purchase | 7.48% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.51% | 4/21/24 |
| 30 Year VA Refi | 5.81% | 4/21/24 |
| 30 Year USDA Purchase | 5.93% | 4/21/24 |
| 15 Year Conventional Purchase | 6.29% | 4/21/24 |
| 15 Year Conventional Refi | 6.25% | 4/21/24 |
| 15 Year Cash-out Refi | 6.25% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Encompass Lending Group Lp Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
414Origination Dollar Volume (All Markets)
$103,890,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 364 | $90,470,000 | $248,544 | $8,766 | 4.32% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 16 | $5,530,000 | $345,625 | $11,612 | 3.84% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 8 | $2,970,000 | $371,250 | $6,056 | 4.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $0 | 4.53% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $0 | 4.72% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $9,886 | 5.19% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 4.38% |
| WACO, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 3.88% |
| ABILENE, TX (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,651 | 4.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.25% |
| Bay City, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 4.50% |
| Brenham, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 5.25% |
| Outside of Metro Areas | 2 | $210,000 | $105,000 | $0 | 4.44% |
| Rockport, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Encompass Lending Group LP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 360 | $91,800,000 | $255,000 | $5,395 | 4.33% |
| FHA | 53 | $11,685,000 | $220,472 | $8,829 | 4.16% |
| VA | 1 | $405,000 | $405,000 | $6,056 | 3.63% |
For 2019, Encompass Lending Group Lp's most frequently originated type of loan was Conventional, with 360 originations. Their 2nd most popular type was FHA, with 53 originations.
Loan Reason
For 2019, Encompass Lending Group Lp's most frequently cited loan purpose was Home Purchase, with 326 originations. The 2nd most popular reason was Refi, with 54 originations.
Loan Duration/Length
For 2019, Encompass Lending Group Lp's most frequently cited loan duration was 30 Year, with 369 originations. The 2nd most popular length was 15 Year, with 37 originations.
Origination Fees/Closing Costs
Encompass Lending Group Lp's average total fees were $8,856, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 299 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 184 | $44,140,000 | $239,891 |
| 3-4% | 167 | $47,455,000 | $284,162 |
| 5-6% | 52 | $9,690,000 | $186,346 |
| 2.5-3% | 8 | $2,160,000 | $270,000 |
| 6-7% | 3 | $445,000 | $148,333 |
During 2019, Encompass Lending Group Lp's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 184 originations.
Loan Sizing
2019 saw Encompass Lending Group Lp place emphasis on $200k-400k loans with 217 originations, totaling $59,305,000 in origination value.
Applicant Income
Encompass Lending Group Lp lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $50k-75k, with 93 originations.
Applicant Debt to Income Ratio
Encompass Lending Group Lp lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 65 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.39%
Encompass Lending Group Lp has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.03%
Encompass Lending Group Lp has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10020.0 | 1 | $235,000 | $235,000 |
| 1295.0 | 1 | $435,000 | $435,000 |
| 1535.61 | 1 | $485,000 | $485,000 |
| 2095.0 | 1 | $355,000 | $355,000 |
| 3056.7 | 1 | $165,000 | $165,000 |
| 3385.0 | 1 | $215,000 | $215,000 |
| 4223.24 | 1 | $245,000 | $245,000 |
| 4620.83 | 1 | $325,000 | $325,000 |
| 4661.2 | 1 | $235,000 | $235,000 |
| 4771.2 | 1 | $165,000 | $165,000 |
| 5783.09 | 1 | $425,000 | $425,000 |
| 5858.9 | 1 | $265,000 | $265,000 |
| NA | 402 | $100,340,000 | $249,602 |