Icore Lending Mortgage Rates, Fees & Info

NEWPORT COAST, CA

LEI: 254900PBEMOERRZO9E31

Tax ID: 81-3881445

1 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Icore Lending is a smaller mortgage company specializing in Refi and Home Purchase loans. Icore Lending has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Los Angeles, Riverside, San Francisco, Phoenix, and San Diego among others. Icore Lending has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Icore Lending is typically a high fee lendor.


Originations

345

Origination Dollar Volume (All Markets)

$140,425,000

Relative Rate

Icore Lending 's average 30 year fixed rate mortgage of loans were 3.25%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.1%.

Relative Fees

Icore Lending 's average total fees for a 30 year fixed rate mortgage are $11,738.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 207 $89,575,000 $432,729 $11,953 3.21%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 109 $39,365,000 $361,147 $10,328 3.19%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $2,420,000 $605,000 $16,554 3.47%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,595,000 $319,000 $7,607 3.29%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,245,000 $415,000 $13,164 3.37%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,160,000 $580,000 $20,014 3.69%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $1,000,000 $250,000 $9,826 3.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $990,000 $495,000 $13,500 3.06%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $545,000 $545,000 $4,532 2.88%
VALLEJO, CA (FHA|USDA|VA) 2 $480,000 $240,000 $7,376 2.44%
NAPA, CA (FHA|USDA|VA) 1 $475,000 $475,000 $11,795 2.99%
Outside of Metro Areas 1 $395,000 $395,000 $4,395 3.25%
MODESTO, CA (FHA|USDA|VA) 1 $325,000 $325,000 $4,633 3.25%
SALINAS, CA (FHA|USDA|VA) 1 $295,000 $295,000 $12,291 3.38%
STOCKTON, CA (FHA|USDA|VA) 1 $285,000 $285,000 $9,777 3.75%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $275,000 $275,000 $11,634 2.75%

Icore Lending 's top markets include Los Angeles, Riverside, San Francisco, Phoenix, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 290 $115,390,000 $397,897 $10,244 3.25%
FHA 47 $20,795,000 $442,447 $17,291 3.01%
VA 8 $4,240,000 $530,000 $16,914 2.75%

For the 2021 period, Icore Lending 's most frequently originated loan type of loans were Conventional, with 290 originations. Their 2nd most popular type is FHA, with 47 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 147 $54,655,000 $371,803 $9,389 3.15%
Home Purchase 121 $58,045,000 $479,711 $14,185 3.26%
Cash Out Refi 76 $27,310,000 $359,342 $10,686 3.25%
Home Improvement 1 $415,000 $415,000 $10,232 2.99%

For the 2021, Icore Lending 's most frequently cited loan purpose of loans were Refi, with 147 originations. The 2nd most popular reason of loans were Home Purchase, with 121 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 315 $132,655,000 $421,127 $11,738 3.25%
20 Year 17 $5,055,000 $297,353 $7,604 2.87%
15 Year 11 $2,335,000 $212,273 $7,924 2.64%
10 Year 1 $135,000 $135,000 $4,480 2.38%
Other 1 $245,000 $245,000 $4,991 3.25%

For the 2021, Icore Lending 's most frequently cited loan length of loans were 30 Year, with 315 originations. The 2nd most popular length of loans were 20 Year, with 17 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 235 $102,335,000 $435,468
$2k-3k 53 $22,135,000 $417,642
$3k-4k 47 $12,505,000 $266,064
$1k-2k 8 $2,870,000 $358,750

$11,738 of loans were Icore Lending 's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 235 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 193 $83,585,000 $433,083
2.5-3% 128 $47,300,000 $369,531
<2.5% 13 $4,705,000 $361,923
4-5% 9 $3,595,000 $399,444
5-6% 2 $1,240,000 $620,000

During 2021, Icore Lending 's average interest rate of loans were 3.25%, while their most frequently originated rate bucket of loans were 3-4%, with 193 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 157 $49,245,000 $313,662 $9,436 3.16%
$400k-600k 129 $62,715,000 $486,163 $12,019 3.25%
$600k-1MM 35 $24,535,000 $701,000 $20,547 3.40%
$100k-200k 24 $3,930,000 $163,750 $7,103 2.99%

2021 saw Icore Lending place emphasis on $200k-400k loans with 157 originations, totaling $49,245,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 95 $31,295,000 $329,421 $9,956 3.12%
$100k-150k 92 $43,930,000 $477,500 $13,179 3.25%
$75k-100k 83 $34,715,000 $418,253 $11,130 3.16%
$50k or less 35 $9,185,000 $262,429 $9,246 3.18%
$150k-250k 30 $15,860,000 $528,667 $12,268 3.39%
$250k+ 7 $4,475,000 $639,286 $17,422 3.96%

Icore Lending lent most frequently to those with incomes in the $50k-75k range, with 95 originations. The second most popular income band? $100k-150k, with 92 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 55 $22,865,000 $415,727 $10,592 3.28%
44% 32 $13,070,000 $408,438 $10,332 3.31%
50-60% 31 $15,125,000 $487,903 $18,947 2.99%
49% 23 $9,205,000 $400,217 $10,113 3.18%
20-30% 23 $7,825,000 $340,217 $9,503 3.08%
45% 23 $9,635,000 $418,913 $12,198 3.22%
43% 18 $7,300,000 $405,556 $10,405 3.15%
48% 16 $7,580,000 $473,750 $12,241 3.26%
42% 16 $6,220,000 $388,750 $9,772 3.27%
38% 15 $5,595,000 $373,000 $8,791 3.23%
41% 15 $5,455,000 $363,667 $11,589 3.16%
40% 13 $4,995,000 $384,231 $12,425 3.20%
46% 12 $4,780,000 $398,333 $9,271 3.26%
47% 12 $4,740,000 $395,000 $12,237 3.11%
<20% 10 $3,630,000 $363,000 $9,593 3.79%
36% 10 $4,110,000 $411,000 $10,400 2.94%
37% 10 $3,940,000 $394,000 $9,521 3.32%
39% 5 $1,895,000 $379,000 $9,365 3.17%
>60% 3 $1,495,000 $498,333 $18,698 3.50%

Icore Lending lent most frequently to those with DTI ratios of 30-36%, with 55 originations. The next most common DTI ratio? 44%, with 32 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 291 $117,415,000 $403,488 $11,495 3.20%
Not provided 31 $11,525,000 $371,774 $10,826 3.18%
Black 12 $5,980,000 $498,333 $12,622 3.34%
Asian 10 $4,950,000 $495,000 $7,949 3.30%
American Indian 1 $555,000 $555,000 $11,030 3.25%

Approval Rates

Total approvals of all applications
100.00%

Icore Lending 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
94.55%

Icore Lending has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 345 $140,425,000 $407,029

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
345 $140,425,000 $407,029

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 20 $4,790,000 $239,500 $7,702 2.99%
40-60% 66 $21,820,000 $330,606 $9,209 3.10%
60-80% 140 $56,960,000 $406,857 $11,065 3.28%
80-100% 115 $54,955,000 $477,870 $13,465 3.24%
Over 100% 2 $1,270,000 $635,000 $21,858 2.81%