Sierra Lending Corporation Mortgage Rates, Fees & Info

Houston, TX

LEI: 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 8.84% 3/28/24
30 Year Conventional Refi 9.01% 3/28/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Sierra Lending Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1

Origination Dollar Volume (All Markets)

$395,000

Relative 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%
Sierra Lending Corporation's top markets include and Merced among others.

Their top states include:
  • California (FHA|USDA|VA)
  • 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 applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    11238.29 1 $395,000 $395,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1 $395,000 $395,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    80-100% 1 $395,000 $395,000 $0 8.24%