Icore Lending Mortgage Rates, Fees & Info
NEWPORT COAST, CALEI: 254900PBEMOERRZO9E31
Tax ID: 81-3881445
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
345Origination Dollar Volume (All Markets)
$140,425,000Relative 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 applications100.00%
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 origination94.55%
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% |
