Lbs Financial Mortgage Rates, Fees & Info
Westminster, CALEI: 5493000RV6UQ52SVTV40
Tax ID: 95-1644568
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Mortgage Data
Review & Overview
Lbs Financial is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Lbs Financial has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Luis Obispo, Sacramento, and Fresno among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Lbs Financial 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. 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 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 | 6.12% | 12/16/24 |
| 30 Year Conventional Refi | 6.24% | 12/16/24 |
| 30 Year Cash-out Refi | 6.11% | 12/16/24 |
| 15 Year Conventional Purchase | 5.32% | 12/16/24 |
| 15 Year Conventional Refi | 5.57% | 12/16/24 |
| 15 Year Cash-out Refi | 5.57% | 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. | ||
Lbs Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
249Origination Dollar Volume (All Markets)
$82,335,000Top 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) | 221 | $73,285,000 | $331,606 | $3,959 | 3.19% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 23 | $7,695,000 | $334,565 | $5,429 | 3.26% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $6,016 | 3.13% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,140 | 2.75% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,672 | 3.13% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,378 | 3.13% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,608 | 3.13% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 249 | $82,335,000 | $330,663 | $4,115 | 3.19% |
For 2021, Lbs Financial's most frequently originated type of loan was Conventional, with 249 originations.
Loan Reason
For 2021, Lbs Financial's most frequently cited loan purpose was Cash Out Refi, with 136 originations. The 2nd most popular reason was Refi, with 63 originations.
Loan Duration/Length
For 2021, Lbs Financial's most frequently cited loan duration was 30 Year, with 162 originations. The 2nd most popular length was 15 Year, with 50 originations.
Origination Fees/Closing Costs
Lbs Financial's average total fees were $4,680, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 103 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 141 | $55,695,000 | $395,000 |
| 2.5-3% | 74 | $21,510,000 | $290,676 |
| 5-6% | 19 | $1,245,000 | $65,526 |
| <2.5% | 14 | $3,850,000 | $275,000 |
| 6-7% | 1 | $35,000 | $35,000 |
During 2021, Lbs Financial's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 3-4%, with 141 originations.
Loan Sizing
2021 saw Lbs Financial place emphasis on $200k-400k loans with 108 originations, totaling $31,370,000 in origination value.
Applicant Income
Lbs Financial lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $150k-250k, with 60 originations.
Applicant Debt to Income Ratio
Lbs Financial lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.64%
Lbs Financial has an average approval rate.
Pick Rate
Approvals leading to origination63.45%
Lbs Financial 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 |
|---|---|---|---|
| NA | 249 | $82,335,000 | $330,663 |