Icore Lending Mortgage Rates, Fees & Info
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.14% | 12/16/24 |
| 30 Year Conventional Refi | 7.15% | 12/16/24 |
| 30 Year Cash-out Refi | 7.02% | 12/16/24 |
| 30 Year FHA Purchase | 7.34% | 12/16/24 |
| 30 Year FHA Refi | 6.85% | 12/16/24 |
| 30 Year VA Purchase | 5.72% | 12/16/24 |
| 15 Year Conventional Purchase | 7.00% | 12/16/24 |
| 15 Year Conventional Refi | 6.61% | 12/16/24 |
| 15 Year Cash-out Refi | 6.61% | 12/16/24 |
| 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
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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
244Origination Dollar Volume (All Markets)
$107,590,000Awards
iCore Lending - 2023
iCore Lending is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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Product Mix
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
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
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
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
2023 saw Icore Lending place emphasis on $400k-600k loans with 89 originations, totaling $44,385,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications94.72%
Icore Lending has an average approval rate.
Pick Rate
Approvals leading to origination68.85%
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 |