Sierra Lending Group Mortgage Rates, Fees & Info
Houston, TXLEI: 254900WBAI0VC58ALC63
Tax ID: 27-3095238
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Mortgage Data
Review & Overview
Sierra Lending Group is a smaller mortgage company specializing in Home Purchase loans. Sierra Lending Group has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, Austin, and San Antonio among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Sierra Lending Group 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. Sierra Lending Group 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.
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Originations
46Origination Dollar Volume (All Markets)
$13,580,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 34 | $10,100,000 | $297,059 | $9,806 | 6.41% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $0 | 6.38% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $0 | 6.16% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 6.87% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $13,580,000 | $295,217 | $9,806 | 6.41% |
For 2019, Sierra Lending Group's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 45 | $13,225,000 | $293,889 | $9,806 | 6.42% |
| Home Improvement | 1 | $355,000 | $355,000 | $0 | 5.99% |
For 2019, Sierra Lending Group's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Home Improvement, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 46 | $13,580,000 | $295,217 | $9,806 | 6.41% |
For 2019, Sierra Lending Group's most frequently cited loan duration was 30 Year, with 46 originations.
Origination Fees/Closing Costs
Sierra Lending Group's average total fees were $9,806, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 14 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 24 | $7,120,000 | $296,667 |
| 5-6% | 12 | $4,340,000 | $361,667 |
| 7-8% | 7 | $1,195,000 | $170,714 |
| 4-5% | 3 | $925,000 | $308,333 |
During 2019, Sierra Lending Group's average interest rate for loans was 6.41%, while their most frequently originated rate bucket for loans was 6-7%, with 24 originations.
Loan Sizing
2019 saw Sierra Lending Group place emphasis on $200k-400k loans with 26 originations, totaling $7,530,000 in origination value.
Applicant Income
Sierra Lending Group lent most frequently to those with incomes in the $250k+ range, with 17 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
Sierra Lending Group lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? <20%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 44 | $12,960,000 | $294,545 | $9,806 | 6.45% |
| Asian | 1 | $385,000 | $385,000 | $0 | 4.49% |
| Korean | 1 | $235,000 | $235,000 | $0 | 6.49% |
Approval Rates
Total approvals of all applications96.55%
Sierra Lending Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.61%
Sierra Lending Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10283.8 | 1 | $235,000 | $235,000 |
| 10384.95 | 1 | $235,000 | $235,000 |
| 10690.09 | 1 | $245,000 | $245,000 |
| 10906.89 | 1 | $365,000 | $365,000 |
| 11944.82 | 1 | $355,000 | $355,000 |
| 12666.12 | 1 | $625,000 | $625,000 |
| 13771.28 | 1 | $725,000 | $725,000 |
| 14081.12 | 1 | $715,000 | $715,000 |
| 16905.22 | 1 | $445,000 | $445,000 |
| 4955.96 | 1 | $125,000 | $125,000 |
| 5028.32 | 1 | $185,000 | $185,000 |
| 5536.07 | 1 | $215,000 | $215,000 |
| 5808.72 | 1 | $235,000 | $235,000 |
| 6088.78 | 1 | $145,000 | $145,000 |
| 6105.17 | 1 | $205,000 | $205,000 |
| 6241.36 | 1 | $155,000 | $155,000 |
| 6675.24 | 1 | $145,000 | $145,000 |
| 6793.3 | 1 | $135,000 | $135,000 |
| 6838.28 | 1 | $205,000 | $205,000 |
| 6895.02 | 1 | $255,000 | $255,000 |
| 6907.13 | 1 | $165,000 | $165,000 |
| 7016.5 | 1 | $275,000 | $275,000 |
| 7344.28 | 1 | $155,000 | $155,000 |
| 7351.01 | 1 | $295,000 | $295,000 |
| 7377.27 | 1 | $315,000 | $315,000 |
| 7544.52 | 1 | $325,000 | $325,000 |
| 7695.54 | 1 | $355,000 | $355,000 |
| 8011.06 | 1 | $195,000 | $195,000 |
| 8124.06 | 1 | $315,000 | $315,000 |
| 8125.06 | 1 | $345,000 | $345,000 |
| 8349.2 | 1 | $315,000 | $315,000 |
| 8637.51 | 1 | $385,000 | $385,000 |
| 8780.93 | 1 | $275,000 | $275,000 |
| 8855.57 | 1 | $345,000 | $345,000 |
| 9040.67 | 1 | $445,000 | $445,000 |
| 9209.51 | 1 | $445,000 | $445,000 |
| 9244.57 | 1 | $275,000 | $275,000 |
| 9248.59 | 1 | $205,000 | $205,000 |
| 9425.92 | 1 | $305,000 | $305,000 |
| 9589.59 | 1 | $415,000 | $415,000 |
| 9612.74 | 1 | $315,000 | $315,000 |
| 9707.21 | 1 | $435,000 | $435,000 |
| 9927.03 | 1 | $335,000 | $335,000 |
| NA | 3 | $395,000 | $131,667 |