Icore Lending Mortgage Rates, Fees & Info

NEWPORT COAST, CA

LEI: 254900PBEMOERRZO9E31

Tax ID: 81-3881445

1 stars - Updated: 4/14/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Icore Lending is a smaller mortgage company specializing in Home Purchase loans. Icore Lending has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, Phoenix, Portland, and Salem among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

Icore Lending 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. Icore Lending 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 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 7.14% 4/14/24
30 Year Conventional Refi 7.15% 4/14/24
30 Year Cash-out Refi 7.02% 4/14/24
30 Year FHA Purchase 7.34% 4/14/24
30 Year FHA Refi 6.85% 4/14/24
30 Year VA Purchase 5.72% 4/14/24
15 Year Conventional Purchase 7.00% 4/14/24
15 Year Conventional Refi 6.61% 4/14/24
15 Year Cash-out Refi 6.61% 4/14/24
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.

Icore Lending Mortgage Calculator






Your Estimates

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

This is not an official calculator from Icore Lending. 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

244

Origination Dollar Volume (All Markets)

$107,590,000

Awards

iCore Lending VA Loans silver
Show all (1) awards

Relative Rate

Icore Lending's average 30 year fixed mortgage rate was 7.31%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.83%.

Relative Fees (Closing Costs)

Icore Lending's average total fees/closing costs for a 30 year fixed rate mortgage were $17,018.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 97 $49,575,000 $511,082 $19,106 7.31%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 71 $31,435,000 $442,746 $16,498 7.29%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 27 $8,215,000 $304,259 $12,460 7.36%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 15 $6,255,000 $417,000 $16,850 7.59%
SALEM, OR (FHA|USDA|VA) 7 $2,235,000 $319,286 $14,520 7.34%
BAKERSFIELD, CA (FHA|USDA|VA) 6 $1,850,000 $308,333 $11,019 7.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,375,000 $458,333 $15,358 7.04%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,030,000 $515,000 $15,796 6.88%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $865,000 $865,000 $23,317 7.50%
VALLEJO, CA (FHA|USDA|VA) 2 $750,000 $375,000 $19,131 8.25%
STOCKTON, CA (FHA|USDA|VA) 1 $725,000 $725,000 $26,680 8.63%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $535,000 $535,000 $18,366 6.13%
FRESNO, CA (FHA|USDA|VA) 2 $440,000 $220,000 $13,700 7.56%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $355,000 $355,000 $13,335 5.63%
TUCSON, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $13,771 7.99%
YUBA CITY, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $285,000 $285,000 $9,815 7.50%
Nogales, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $14,764 6.75%
YUMA, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $8,455 5.88%
CHICO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $12,652 9.88%
Payson, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $6,134 5.99%
Jasper, IN (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.00%
Icore Lending's top markets include Los Angeles, Riverside, Phoenix, Portland, and Salem among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against iCore Lending based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    LBS FINANCIAL
    Similarity Rank: 258
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    ALTURA
    Similarity Rank: 560
    LA Financial Federal Credit Union
    Similarity Rank: 660
    FRONTWAVE
    Similarity Rank: 660
    I.L.W.U. CREDIT UNION
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 138 $57,530,000 $416,884 $13,552 7.93%
    FHA 91 $42,955,000 $472,033 $21,753 6.62%
    VA 12 $6,310,000 $525,833 $12,949 6.02%
    Reverse Mortgage 2 $420,000 $210,000 $0 6.99%
    FHA 1 $375,000 $375,000 $0 7.00%

    For 2023, Icore Lending's most frequently originated type of loan was Conventional, with 138 originations. Their 2nd most popular type was FHA, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 190 $90,110,000 $474,263 $18,146 7.21%
    Cash Out Refi 43 $13,835,000 $321,744 $11,883 7.98%
    Refi 10 $3,270,000 $327,000 $11,407 7.01%
    Other 1 $375,000 $375,000 $0 7.00%

    For 2023, Icore Lending's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 237 $106,245,000 $448,291 $17,018 7.31%
    20 Year 3 $405,000 $135,000 $5,234 8.56%
    Other 3 $795,000 $265,000 $0 6.99%
    10 Year 1 $145,000 $145,000 $8,185 9.83%

    For 2023, Icore Lending's most frequently cited loan duration was 30 Year, with 237 originations. The 2nd most popular length was 20 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 192 $89,600,000 $466,667
    $2k-3k 14 $5,520,000 $394,286
    $3k-4k 10 $2,950,000 $295,000
    $4k-5k 9 $2,865,000 $318,333
    $1k-2k 2 $520,000 $260,000
    $<1k 1 $465,000 $465,000

    Icore Lending's average total fees were $17,018, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 192 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 92 $41,710,000 $453,370
    7-8% 74 $32,180,000 $434,865
    Over 8% 48 $20,950,000 $436,458
    5-6% 30 $12,750,000 $425,000

    During 2023, Icore Lending's average interest rate for loans was 7.31%, while their most frequently originated rate bucket for loans was 6-7%, with 92 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 89 $44,385,000 $498,708 $18,533 7.13%
    $200k-400k 84 $26,670,000 $317,500 $13,789 7.24%
    $600k-1MM 42 $29,540,000 $703,333 $23,275 7.29%
    $100k-200k 24 $3,620,000 $150,833 $7,114 8.19%
    $1MM+ 3 $3,205,000 $1,068,333 $26,050 9.08%
    $100,000 or less 2 $170,000 $85,000 $5,515 8.94%

    2023 saw Icore Lending place emphasis on $400k-600k loans with 89 originations, totaling $44,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 81 $37,885,000 $467,716 $18,903 7.10%
    $150k-250k 49 $25,835,000 $527,245 $18,188 7.40%
    $75k-100k 41 $14,345,000 $349,878 $14,484 7.11%
    $50k-75k 27 $7,595,000 $281,296 $12,562 6.84%
    $250k+ 25 $15,535,000 $621,400 $18,669 8.69%
    $50k or less 21 $6,395,000 $304,524 $9,267 7.57%

    Icore Lending lent most frequently to those with incomes in the $100k-150k range, with 81 originations. The second most popular income band? $150k-250k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 46 $22,040,000 $479,130 $20,529 6.64%
    49% 27 $11,435,000 $423,519 $15,975 7.49%
    20-30% 19 $8,435,000 $443,947 $14,380 8.00%
    48% 19 $8,875,000 $467,105 $18,814 7.22%
    <20% 13 $3,895,000 $299,615 $8,128 8.99%
    42% 12 $4,120,000 $343,333 $14,801 7.52%
    47% 11 $5,695,000 $517,727 $18,320 6.57%
    46% 11 $3,965,000 $360,455 $12,165 7.71%
    45% 10 $3,730,000 $373,000 $18,657 6.80%
    43% 10 $4,390,000 $439,000 $15,200 7.05%
    30-36% 9 $4,725,000 $525,000 $18,841 7.64%
    39% 8 $4,030,000 $503,750 $17,823 6.83%
    44% 8 $3,450,000 $431,250 $16,677 6.50%
    40% 7 $3,475,000 $496,429 $16,411 6.75%
    38% 6 $4,330,000 $721,667 $23,315 8.21%
    41% 5 $1,845,000 $369,000 $12,905 8.43%
    36% 5 $2,545,000 $509,000 $22,341 6.70%
    37% 4 $1,240,000 $310,000 $10,237 7.28%
    >60% 1 $155,000 $155,000 $6,996 9.00%

    Icore Lending lent most frequently to those with DTI ratios of 50-60%, with 46 originations. The next most common DTI ratio? 49%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 219 $95,695,000 $436,963 $16,849 7.32%
    Black 11 $4,915,000 $446,818 $14,826 7.66%
    Asian 8 $4,610,000 $576,250 $18,388 7.27%
    Not provided 4 $1,630,000 $407,500 $15,579 7.31%
    Filipino 1 $435,000 $435,000 $22,640 7.63%
    Asian Indian 1 $305,000 $305,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    94.72%

    Icore Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.85%

    Icore Lending 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
    13424.88 1 $165,000 $165,000
    NA 243 $107,425,000 $442,078

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    244 $107,590,000 $440,943

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,440,000 $203,333 $7,652 7.07%
    40-60% 19 $6,295,000 $331,316 $12,398 7.08%
    60-80% 63 $28,465,000 $451,825 $15,167 8.03%
    80-100% 140 $68,450,000 $488,929 $19,175 6.94%
    Over 100% 2 $1,050,000 $525,000 $19,699 6.31%
    Under 20% 8 $890,000 $111,250 $5,079 10.08%