Lbs Financial Mortgage Rates, Fees & Info

Westminster, CA

LEI: 5493000RV6UQ52SVTV40

Tax ID: 95-1644568

5 stars - Updated: 11/17/24 - out of 5 stars, based on 14 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Lbs Financial is a smaller mortgage company specializing in Home Improvement and Cash Out Refi loans. Lbs Financial has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Truckee, Bakersfield, and San Diego among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Lbs Financial has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Lbs Financial is typically a low 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 6.12% 11/17/24
    30 Year Conventional Refi 6.24% 11/17/24
    30 Year Cash-out Refi 6.11% 11/17/24
    15 Year Conventional Purchase 5.32% 11/17/24
    15 Year Conventional Refi 5.57% 11/17/24
    15 Year Cash-out Refi 5.57% 11/17/24
    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.

    Lbs Financial Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Lbs Financial. 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

    193

    Origination Dollar Volume (All Markets)

    $28,315,000

    Awards

    LBS FINANCIAL 30 Year Conventional Loans gold LBS FINANCIAL 30 Year Conventional Loans silver LBS FINANCIAL 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Lbs Financial's average 30 year fixed mortgage rate was 6.12%.

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

    This yields a difference of -0.36%.

    Relative Fees (Closing Costs)

    Lbs Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $3,649.

    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) 167 $25,135,000 $150,509 $1,591 7.12%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 22 $2,170,000 $98,636 $1,588 7.25%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $525,000 $525,000 $4,754 6.25%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $225,000 $225,000 $4,211 6.38%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $155,000 $155,000 $3,285 6.25%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $105,000 $105,000 $3,099 6.50%
    Lbs Financial's top markets include Los Angeles, Riverside, Truckee, Bakersfield, and San Diego among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against LBS FINANCIAL 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
    Water and Power Community Credit Union
    Similarity Rank: 261
    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 108 $17,810,000 $164,907 $1,674 7.39%
    HELOC 85 $10,505,000 $123,588 n/a 6.77%

    For 2023, Lbs Financial's most frequently originated type of loan was Conventional, with 108 originations. Their 2nd most popular type was HELOC, with 85 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 107 $10,705,000 $100,047 $704 7.31%
    Cash Out Refi 48 $8,940,000 $186,250 $1,695 7.13%
    Other 20 $2,710,000 $135,500 $663 6.86%
    Home Purchase 16 $5,530,000 $345,625 $5,136 6.19%
    Refi 2 $430,000 $215,000 $1,049 6.44%

    For 2023, Lbs Financial's most frequently cited loan purpose was Home Improvement, with 107 originations. The 2nd most popular reason was Cash Out Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 84 $10,300,000 $122,619 $0 6.78%
    15 Year 57 $5,455,000 $95,702 $1,042 7.94%
    30 Year 28 $10,800,000 $385,714 $3,649 6.12%
    10 Year 22 $1,600,000 $72,727 $693 7.62%
    20 Year 2 $160,000 $80,000 $2,504 6.50%

    For 2023, Lbs Financial's most frequently cited loan duration was Other, with 84 originations. The 2nd most popular length was 15 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 96 $14,810,000 $154,271
    $1k-2k 5 $655,000 $131,000
    $2k-3k 4 $1,650,000 $412,500
    $3k-4k 1 $155,000 $155,000
    $4k-5k 1 $205,000 $205,000
    $5k+ 1 $335,000 $335,000

    Lbs Financial's average total fees were $3,649, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 96 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 86 $14,310,000 $166,395
    Over 8% 50 $4,090,000 $81,800
    7-8% 40 $3,570,000 $89,250
    6-7% 17 $6,345,000 $373,235

    During 2023, Lbs Financial's average interest rate for loans was 6.12%, while their most frequently originated rate bucket for loans was 5-6%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 93 $5,465,000 $58,763 $728 7.55%
    $100k-200k 56 $6,980,000 $124,643 $1,470 7.15%
    $200k-400k 33 $9,155,000 $277,424 $3,662 6.16%
    $400k-600k 5 $2,325,000 $465,000 $3,769 6.20%
    $600k-1MM 5 $3,285,000 $657,000 $4,612 6.10%
    $1MM+ 1 $1,105,000 $1,105,000 $4,141 6.63%

    2023 saw Lbs Financial place emphasis on $100,000 or less loans with 93 originations, totaling $5,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 72 $9,550,000 $132,639 $1,410 7.31%
    $150k-250k 50 $8,780,000 $175,600 $1,542 7.09%
    $75k-100k 27 $2,815,000 $104,259 $2,366 7.39%
    $250k+ 21 $5,335,000 $254,048 $2,119 6.72%
    $50k-75k 21 $1,725,000 $82,143 $1,679 6.66%
    $50k or less 2 $110,000 $55,000 $2,099 6.50%

    Lbs Financial lent most frequently to those with incomes in the $100k-150k range, with 72 originations. The second most popular income band? $150k-250k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $6,270,000 $149,286 $1,123 7.06%
    20-30% 29 $4,385,000 $151,207 $1,640 6.89%
    44% 14 $1,560,000 $111,429 $762 8.01%
    <20% 10 $1,450,000 $145,000 $2,990 6.45%
    41% 10 $1,530,000 $153,000 $1,734 7.12%
    36% 9 $2,045,000 $227,222 $4,050 6.79%
    39% 9 $3,255,000 $361,667 $3,356 6.40%
    43% 9 $815,000 $90,556 $1,981 6.76%
    47% 9 $1,035,000 $115,000 $803 7.48%
    42% 8 $940,000 $117,500 $1,475 6.81%
    38% 8 $1,030,000 $128,750 $1,383 7.22%
    46% 8 $690,000 $86,250 $3,356 7.84%
    37% 6 $770,000 $128,333 $1,694 6.98%
    48% 6 $480,000 $80,000 $974 8.63%
    45% 5 $425,000 $85,000 $737 6.37%
    40% 5 $435,000 $87,000 $682 7.27%
    50-60% 4 $1,080,000 $270,000 $1,550 7.09%
    49% 2 $120,000 $60,000 $672 8.88%

    Lbs Financial lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 121 $17,405,000 $143,843 $1,658 7.03%
    Asian 22 $5,100,000 $231,818 $2,909 7.29%
    Not provided 22 $2,520,000 $114,545 $1,500 6.98%
    Black 20 $2,250,000 $112,500 $671 7.48%
    Filipino 4 $780,000 $195,000 $2,092 6.40%
    Other Asian 1 $105,000 $105,000 $737 7.88%
    Not applicable 1 $75,000 $75,000 $672 8.13%
    Samoan 1 $55,000 $55,000 $0 10.00%
    Guamanian 1 $25,000 $25,000 $712 7.63%

    Approval Rates

    Total approvals of all applications
    78.34%

    Lbs Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.54%

    Lbs Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 193 $28,315,000 $146,710

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    193 $28,315,000 $146,710

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $6,045,000 $241,800 $1,216 6.35%
    40-60% 7 $2,225,000 $317,857 $2,995 6.16%
    60-80% 10 $5,280,000 $528,000 $4,932 6.11%
    80-100% 4 $1,690,000 $422,500 $5,061 6.59%
    Under 20% 147 $13,075,000 $88,946 $1,016 7.38%