Sierra Lending Corporation Mortgage Rates, Fees & Info
Houston, TXLEI: 254900MC07ETGW6C0M17
Tax ID: 37-1788934
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Mortgage Data
Review & Overview
Sierra Lending Corporation is a smaller mortgage company specializing in Home Purchase loans. Sierra Lending Corporation has a high proportion of conventional loans. Their top (well, only) market is Merced.Sierra Lending Corporation has an above average approval rate when compared to the average across all 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 8.84% | 11/11/24 |
| 30 Year Conventional Refi | 9.01% | 11/11/24 |
| 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. | ||
Sierra Lending Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Sierra Lending Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1Origination Dollar Volume (All Markets)
$395,000Relative Rate
Sierra Lending Corporation's average 30 year fixed mortgage rate was
8.24%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.76%.
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 |
|---|---|---|---|---|---|
| MERCED, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 8.24% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $395,000 | $395,000 | $0 | 8.24% |
For 2023, Sierra Lending Corporation's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1 | $395,000 | $395,000 | $0 | 8.24% |
For 2023, Sierra Lending Corporation's most frequently cited loan purpose was Home Purchase, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1 | $395,000 | $395,000 | $0 | 8.24% |
For 2023, Sierra Lending Corporation's most frequently cited loan duration was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 1 | $395,000 | $395,000 |
Sierra Lending Corporation's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1 | $395,000 | $395,000 |
During 2023, Sierra Lending Corporation's average interest rate for loans was 8.24%, while their most frequently originated rate bucket for loans was Over 8%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1 | $395,000 | $395,000 | $0 | 8.24% |
2023 saw Sierra Lending Corporation place emphasis on $200k-400k loans with 1 originations, totaling $395,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $395,000 | $395,000 | $0 | 8.24% |
Sierra Lending Corporation lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 1 | $395,000 | $395,000 | $0 | 8.24% |
Sierra Lending Corporation lent most frequently to those with DTI ratios of 30-36%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $395,000 | $395,000 | $0 | 8.24% |
Approval Rates
Total approvals of all applications100.00%
Sierra Lending Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 11238.29 | 1 | $395,000 | $395,000 |