Sierra Lending Corporation Mortgage Rates, Fees & Info
Houston, TXLEI: 254900MC07ETGW6C0M17
Tax ID: 37-1788934
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Sierra Lending Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Sierra Lending Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Jose, Vallejo, Stockton, and Sacramento among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Sierra Lending Corporation 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.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 8.84% | 12/17/24 |
| 30 Year Conventional Refi | 9.01% | 12/17/24 |
| 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
10Origination Dollar Volume (All Markets)
$6,420,000Top 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) | 3 | $2,495,000 | $831,667 | $0 | 4.54% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,570,000 | $785,000 | $0 | 4.62% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 3.00% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 6.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 7.63% |
| NAPA, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 6.99% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 10 | $6,420,000 | $642,000 | $0 | 5.35% |
For 2021, Sierra Lending Corporation's most frequently originated type of loan was Conventional, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 7 | $4,085,000 | $583,571 | $0 | 5.89% |
| Refi | 3 | $2,335,000 | $778,333 | $0 | 4.08% |
For 2021, Sierra Lending Corporation's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 10 | $6,420,000 | $642,000 | $0 | 5.35% |
For 2021, Sierra Lending Corporation's most frequently cited loan duration was 30 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 6 | $4,500,000 | $750,000 |
| $4k-5k | 3 | $1,565,000 | $521,667 |
| $3k-4k | 1 | $355,000 | $355,000 |
Sierra Lending Corporation's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 3 | $1,255,000 | $418,333 |
| 2.5-3% | 2 | $1,570,000 | $785,000 |
| 3-4% | 2 | $2,560,000 | $1,280,000 |
| 5-6% | 2 | $600,000 | $300,000 |
| 6-7% | 1 | $435,000 | $435,000 |
During 2021, Sierra Lending Corporation's average interest rate for loans was 5.35%, while their most frequently originated rate bucket for loans was 7-8%, with 3 originations.
Loan Sizing
2021 saw Sierra Lending Corporation place emphasis on $200k-400k loans with 4 originations, totaling $1,320,000 in origination value.
Applicant Income
Sierra Lending Corporation lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $100k-150k, with 3 originations.
Applicant Debt to Income Ratio
Sierra Lending Corporation lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? 38%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 8 | $5,400,000 | $675,000 | $0 | 5.65% |
| Not provided | 1 | $765,000 | $765,000 | $0 | 3.00% |
| Chinese | 1 | $255,000 | $255,000 | $0 | 5.25% |
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 origination70.00%
Sierra Lending Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10287.47 | 1 | $255,000 | $255,000 |
| 12251.84 | 1 | $535,000 | $535,000 |
| 12443.69 | 1 | $345,000 | $345,000 |
| 19099.09 | 1 | $805,000 | $805,000 |
| 23248.69 | 1 | $1,335,000 | $1,335,000 |
| 27061.32 | 1 | $1,225,000 | $1,225,000 |
| 7292.74 | 1 | $365,000 | $365,000 |
| 7748.44 | 1 | $765,000 | $765,000 |
| 8655.99 | 1 | $355,000 | $355,000 |
| 9676.94 | 1 | $435,000 | $435,000 |