Icore Lending Mortgage Rates, Fees & Info
NEWPORT COAST, CALEI: 254900PBEMOERRZO9E31
Tax ID: 81-3881445
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Mortgage Data
Review & 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 by origination volume include: Los Angeles, Riverside, San Diego, Sacramento, and Bakersfield among others. We have data for 8 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 about average 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
242Origination Dollar Volume (All Markets)
$93,830,000Top 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) | 166 | $68,190,000 | $410,783 | $11,891 | 3.41% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 64 | $21,310,000 | $332,969 | $10,739 | 3.35% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $1,890,000 | $472,500 | $19,492 | 2.66% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $7,595 | 3.44% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $8,923 | 4.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $11,280 | 3.63% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $8,824 | 2.75% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,625 | 3.38% |
Their top states include:
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 177 | $66,915,000 | $378,051 | $9,666 | 3.39% |
| FHA | 61 | $24,745,000 | $405,656 | $17,207 | 3.36% |
| VA | 4 | $2,170,000 | $542,500 | $12,120 | 2.97% |
For 2020, Icore Lending's most frequently originated type of loan was Conventional, with 177 originations. Their 2nd most popular type was FHA, with 61 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 163 | $59,435,000 | $364,632 | $10,188 | 3.36% |
| Home Purchase | 79 | $34,395,000 | $435,380 | $14,512 | 3.41% |
For 2020, Icore Lending's most frequently cited loan purpose was Refi, with 163 originations. The 2nd most popular reason was Home Purchase, with 79 originations.
Loan Duration/Length
For 2020, Icore Lending's most frequently cited loan duration was 30 Year, with 229 originations. The 2nd most popular length was 15 Year, with 8 originations.
Origination Fees/Closing Costs
Icore Lending's average total fees were $11,766, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 136 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 101 | $40,695,000 | $402,921 |
| 2.5-3% | 96 | $36,650,000 | $381,771 |
| 4-5% | 35 | $12,545,000 | $358,429 |
| <2.5% | 8 | $3,010,000 | $376,250 |
| 5-6% | 2 | $930,000 | $465,000 |
During 2020, Icore Lending's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 101 originations.
Loan Sizing
2020 saw Icore Lending place emphasis on $200k-400k loans with 116 originations, totaling $36,260,000 in origination value.
Applicant Income
Icore Lending lent most frequently to those with incomes in the $75k-100k range, with 67 originations. The second most popular income band? $50k-75k, with 66 originations.
Applicant Debt to Income Ratio
Icore Lending lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 50-60%, with 28 originations.
Ethnicity Mix
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 origination86.78%
Icore Lending has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 242 | $93,830,000 | $387,727 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 242 | $93,830,000 | $387,727 |