Planet Home Lending Llc

Meriden, CT 06450

LEI: 54930021WPEXNHYZUL09

Tax ID: 26-0362771

2019 Data | 2018 Data


Jump to:

  • Originations
  • Product Mix
  • Loan Reason
  • Top Markets
  • Typical Rates
  • Loan Sizes
  • Loan to Value Info
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees
  • Dwelling Types

    • Overview

    Planet Home Lending Llc is a small mortgage company specializing in Home Purchase and Refi loans. Planet Home Lending Llc has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Denver, Washington, San Diego, Las Vegas, and Riverside among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Planet Home Lending Llc is typically a low fee medium-low fee lendor.


    Originations

    10,383

    Origination Dollar Volume (All Markets)

    $2,656,525,000

    Product Mix

    Loan Type Originations Total Value Average Loan
    Conventional 3,900 $1,048,110,000 $268,746
    FHA 3,514 $837,500,000 $238,332
    VA 2,727 $731,255,000 $268,154
    USDA 242 $39,660,000 $163,884

    Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

    Loan Reason

    Loan Reason Originations Total Value Average Loan
    Home Purchase 3,985 $929,795,000 $233,324
    Refi 4,420 $1,221,020,000 $276,249
    Cash Out Refi 1,978 $505,710,000 $255,667

    Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

    Top Markets

    Market Originations Total Value Average Loan
    DENVER-AURORA-LAKEWOOD, CO 480 $168,510,000 $351,063
    Outside of Metro Areas 795 $149,605,000 $188,182
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 316 $104,900,000 $331,962
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA 200 $93,020,000 $465,100
    LAS VEGAS-HENDERSON-PARADISE, NV 384 $92,120,000 $239,896
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 261 $84,755,000 $324,732
    AUSTIN-ROUND ROCK-GEORGETOWN, TX 281 $78,265,000 $278,523
    LOS ANGELES-LONG BEACH-GLENDALE, CA 139 $57,985,000 $417,158
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 303 $57,445,000 $189,587
    OAKLAND-BERKELEY-LIVERMORE, CA 127 $56,825,000 $447,441
    BOULDER, CO 128 $55,200,000 $431,250
    SEATTLE-BELLEVUE-KENT, WA 149 $54,315,000 $364,530
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA 90 $49,920,000 $554,667
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX 199 $46,835,000 $235,352
    PHOENIX-MESA-CHANDLER, AZ 159 $39,135,000 $246,132
    DALLAS-PLANO-IRVING, TX 144 $38,130,000 $264,792
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 168 $37,570,000 $223,631
    GAINESVILLE, FL 178 $35,150,000 $197,472
    ST. LOUIS, MO-IL 164 $35,040,000 $213,659
    SACRAMENTO-ROSEVILLE-FOLSOM, CA 101 $34,925,000 $345,792
    SHREVEPORT-BOSSIER CITY, LA 210 $33,930,000 $161,571
    ORLANDO-KISSIMMEE-SANFORD, FL 141 $33,725,000 $239,184
    KILLEEN-TEMPLE, TX 162 $31,610,000 $195,123
    COLORADO SPRINGS, CO 106 $31,460,000 $296,792
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 114 $29,470,000 $258,509
    TAMPA-ST. PETERSBURG-CLEARWATER, FL 123 $29,205,000 $237,439
    BROWNSVILLE-HARLINGEN, TX 188 $28,310,000 $150,585
    CHICAGO-NAPERVILLE-EVANSTON, IL 120 $27,810,000 $231,750
    SAN ANTONIO-NEW BRAUNFELS, TX 127 $27,595,000 $217,283
    PORT ST. LUCIE, FL 112 $25,750,000 $229,911
    FORT WORTH-ARLINGTON-GRAPEVINE, TX 106 $24,280,000 $229,057
    TACOMA-LAKEWOOD, WA 77 $23,325,000 $302,922
    KANSAS CITY, MO-KS 122 $22,770,000 $186,639
    CHARLOTTE-CONCORD-GASTONIA, NC-SC 104 $22,690,000 $218,173
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA 66 $21,790,000 $330,152
    ANAHEIM-SANTA ANA-IRVINE, CA 39 $21,355,000 $547,564
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 72 $20,720,000 $287,778
    BALTIMORE-COLUMBIA-TOWSON, MD 70 $20,090,000 $287,000
    INDIANAPOLIS-CARMEL-ANDERSON, IN 93 $19,085,000 $205,215
    MODESTO, CA 66 $18,410,000 $278,939
    ANCHORAGE, AK 60 $17,800,000 $296,667
    MIAMI-MIAMI BEACH-KENDALL, FL 62 $17,700,000 $285,484
    JACKSON, MS 97 $17,475,000 $180,155
    FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 58 $16,420,000 $283,103
    JACKSONVILLE, FL 64 $14,640,000 $228,750
    HAGERSTOWN-MARTINSBURG, MD-WV 72 $13,790,000 $191,528
    AUGUSTA-RICHMOND COUNTY, GA-SC 80 $13,650,000 $170,625
    WARREN-TROY-FARMINGTON HILLS, MI 62 $12,900,000 $208,065
    STOCKTON, CA 44 $12,880,000 $292,727
    WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 47 $12,085,000 $257,128
    CINCINNATI, OH-KY-IN 64 $11,720,000 $183,125
    ALBUQUERQUE, NM 67 $11,695,000 $174,552
    GREELEY, CO 37 $11,595,000 $313,378
    NEW BRUNSWICK-LAKEWOOD, NJ 37 $11,585,000 $313,108
    NEW ORLEANS-METAIRIE, LA 62 $11,300,000 $182,258
    HUNTSVILLE, AL 54 $11,070,000 $205,000
    BOISE CITY, ID 41 $10,425,000 $254,268
    BREMERTON-SILVERDALE-PORT ORCHARD, WA 32 $10,050,000 $314,063
    OLYMPIA-LACEY-TUMWATER, WA 32 $9,870,000 $308,438
    VALLEJO, CA 31 $9,345,000 $301,452
    PITTSBURGH, PA 49 $9,305,000 $189,898
    SANTA CRUZ-WATSONVILLE, CA 16 $9,130,000 $570,625
    OXNARD-THOUSAND OAKS-VENTURA, CA 18 $9,030,000 $501,667
    WICHITA, KS 64 $8,970,000 $140,156
    SALINAS, CA 25 $8,795,000 $351,800
    FORT COLLINS, CO 29 $8,295,000 $286,034
    RICHMOND, VA 32 $8,250,000 $257,813
    FREDERICK-GAITHERSBURG-ROCKVILLE, MD 20 $8,170,000 $408,500
    COLUMBUS, OH 44 $8,020,000 $182,273
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 34 $7,740,000 $227,647
    MEMPHIS, TN-MS-AR 34 $7,590,000 $223,235
    TUCSON, AZ 32 $7,500,000 $234,375
    NEWARK, NJ-PA 24 $7,290,000 $303,750
    BIRMINGHAM-HOOVER, AL 35 $7,235,000 $206,714
    MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 26 $7,170,000 $275,769
    ELGIN, IL 32 $7,030,000 $219,688
    CHARLESTON-NORTH CHARLESTON, SC 26 $6,970,000 $268,077
    SANTA ROSA-PETALUMA, CA 16 $6,930,000 $433,125
    DETROIT-DEARBORN-LIVONIA, MI 43 $6,765,000 $157,326
    OCALA, FL 32 $6,240,000 $195,000
    COEUR D'ALENE, ID 20 $6,230,000 $311,500
    BATON ROUGE, LA 32 $6,160,000 $192,500
    SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 13 $6,115,000 $470,385
    MCALLEN-EDINBURG-MISSION, TX 35 $5,755,000 $164,429
    FRESNO, CA 23 $5,665,000 $246,304
    COLUMBIA, SC 26 $5,340,000 $205,385
    NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 15 $5,335,000 $355,667
    RALEIGH-CARY, NC 25 $5,005,000 $200,200
    MONTGOMERY, AL 17 $4,885,000 $287,353
    OKLAHOMA CITY, OK 22 $4,790,000 $217,727
    KENNEWICK-RICHLAND, WA 18 $4,710,000 $261,667
    HATTIESBURG, MS 26 $4,690,000 $180,385
    BAKERSFIELD, CA 20 $4,430,000 $221,500
    CAPE GIRARDEAU, MO-IL 20 $4,360,000 $218,000
    LAKELAND-WINTER HAVEN, FL 23 $4,185,000 $181,957
    PUEBLO, CO 17 $4,075,000 $239,706
    FAYETTEVILLE, NC 27 $4,065,000 $150,556
    PALM BAY-MELBOURNE-TITUSVILLE, FL 19 $4,015,000 $211,316
    LOUISVILLE/JEFFERSON COUNTY, KY-IN 19 $4,015,000 $211,316
    COLUMBUS, GA-AL 17 $3,695,000 $217,353
    LAKE COUNTY-KENOSHA COUNTY, IL-WI 18 $3,670,000 $203,889
    CAMDEN, NJ 17 $3,655,000 $215,000
    SALEM, OR 13 $3,595,000 $276,538
    MERCED, CA 17 $3,595,000 $211,471
    LAKE HAVASU CITY-KINGMAN, AZ 15 $3,575,000 $238,333
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 13 $3,575,000 $275,000
    LAS CRUCES, NM 23 $3,535,000 $153,696
    RENO, NV 9 $3,495,000 $388,333
    CAPE CORAL-FORT MYERS, FL 16 $3,450,000 $215,625
    YAKIMA, WA 14 $3,450,000 $246,429
    SPRINGFIELD, MO 18 $3,320,000 $184,444
    PHILADELPHIA, PA 15 $3,305,000 $220,333
    PENSACOLA-FERRY PASS-BRENT, FL 15 $3,175,000 $211,667
    NORTH PORT-SARASOTA-BRADENTON, FL 13 $3,165,000 $243,462
    GRAND RAPIDS-KENTWOOD, MI 20 $3,130,000 $156,500
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR 11 $2,885,000 $262,273
    SAVANNAH, GA 14 $2,850,000 $203,571
    CLARKSVILLE, TN-KY 12 $2,780,000 $231,667
    KNOXVILLE, TN 14 $2,690,000 $192,143
    SPOKANE-SPOKANE VALLEY, WA 12 $2,680,000 $223,333
    MOUNT VERNON-ANACORTES, WA 10 $2,640,000 $264,000
    GREENSBORO-HIGH POINT, NC 14 $2,600,000 $185,714
    GULFPORT-BILOXI, MS 16 $2,580,000 $161,250
    GRAND JUNCTION, CO 9 $2,565,000 $285,000
    ANN ARBOR, MI 12 $2,550,000 $212,500
    EL PASO, TX 15 $2,525,000 $168,333
    GREENVILLE-ANDERSON, SC 13 $2,515,000 $193,462
    LONGVIEW, WA 10 $2,500,000 $250,000
    SANTA FE, NM 8 $2,500,000 $312,500
    GARY, IN 13 $2,485,000 $191,154
    OMAHA-COUNCIL BLUFFS, NE-IA 14 $2,430,000 $173,571
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 11 $2,325,000 $211,364
    CALIFORNIA-LEXINGTON PARK, MD 8 $2,320,000 $290,000
    SAN LUIS OBISPO-PASO ROBLES, CA 5 $2,245,000 $449,000
    YUBA CITY, CA 8 $2,200,000 $275,000
    LANSING-EAST LANSING, MI 12 $2,180,000 $181,667
    BRIDGEPORT-STAMFORD-NORWALK, CT 6 $2,170,000 $361,667
    TUSCALOOSA, AL 10 $2,160,000 $216,000
    NEW HAVEN-MILFORD, CT 10 $2,140,000 $214,000
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 10 $2,090,000 $209,000
    BELLINGHAM, WA 8 $2,080,000 $260,000
    CLEVELAND-ELYRIA, OH 15 $2,005,000 $133,667
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 8 $1,960,000 $245,000
    BEND, OR 6 $1,950,000 $325,000
    EL CENTRO, CA 8 $1,940,000 $242,500
    MANHATTAN, KS 9 $1,935,000 $215,000
    DOTHAN, AL 8 $1,930,000 $241,250
    GRANTS PASS, OR 7 $1,865,000 $266,429
    LONGVIEW, TX 8 $1,860,000 $232,500
    LAWRENCE, KS 10 $1,830,000 $183,000
    MILWAUKEE-WAUKESHA, WI 8 $1,820,000 $227,500
    VISALIA, CA 9 $1,815,000 $201,667
    COLLEGE STATION-BRYAN, TX 9 $1,805,000 $200,556
    MIDLAND, TX 6 $1,730,000 $288,333
    WILMINGTON, DE-MD-NJ 6 $1,730,000 $288,333
    DAYTON-KETTERING, OH 8 $1,670,000 $208,750
    PUNTA GORDA, FL 7 $1,665,000 $237,857
    REDDING, CA 5 $1,655,000 $331,000
    JACKSONVILLE, NC 12 $1,630,000 $135,833
    WINCHESTER, VA-WV 5 $1,615,000 $323,000
    TULSA, OK 8 $1,580,000 $197,500
    AMARILLO, TX 8 $1,560,000 $195,000
    KINGSPORT-BRISTOL, TN-VA 9 $1,555,000 $172,778
    MADISON, WI 7 $1,515,000 $216,429
    EUGENE-SPRINGFIELD, OR 6 $1,490,000 $248,333
    PRESCOTT VALLEY-PRESCOTT, AZ 5 $1,465,000 $293,000
    TRENTON-PRINCETON, NJ 7 $1,465,000 $209,286
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 9 $1,435,000 $159,444
    HILTON HEAD ISLAND-BLUFFTON, SC 6 $1,400,000 $233,333
    LINCOLN, NE 8 $1,380,000 $172,500
    TOPEKA, KS 8 $1,380,000 $172,500
    READING, PA 5 $1,375,000 $275,000
    ATHENS-CLARKE COUNTY, GA 7 $1,365,000 $195,000
    PROVIDENCE-WARWICK, RI-MA 6 $1,360,000 $226,667
    YORK-HANOVER, PA 5 $1,355,000 $271,000
    HAMMOND, LA 7 $1,305,000 $186,429
    NAPLES-MARCO ISLAND, FL 5 $1,305,000 $261,000
    Outside of Metro Areas 2 $1,290,000 $645,000
    SHERMAN-DENISON, TX 5 $1,285,000 $257,000
    MEDFORD, OR 5 $1,275,000 $255,000
    AKRON, OH 8 $1,270,000 $158,750
    FLINT, MI 6 $1,230,000 $205,000
    NORWICH-NEW LONDON, CT 5 $1,215,000 $243,000
    BILLINGS, MT 4 $1,190,000 $297,500
    MADERA, CA 5 $1,175,000 $235,000
    ALEXANDRIA, LA 6 $1,110,000 $185,000
    WINSTON-SALEM, NC 7 $1,085,000 $155,000
    NAPA, CA 2 $1,060,000 $530,000
    WILMINGTON, NC 7 $1,045,000 $149,286
    WARNER ROBINS, GA 6 $1,040,000 $173,333
    CHICO, CA 5 $1,035,000 $207,000
    LAFAYETTE, LA 5 $1,035,000 $207,000
    LEXINGTON-FAYETTE, KY 5 $1,025,000 $205,000
    WHEELING, WV-OH 5 $1,015,000 $203,000
    CAMBRIDGE-NEWTON-FRAMINGHAM, MA 3 $1,005,000 $335,000
    GREEN BAY, WI 5 $1,005,000 $201,000
    TOLEDO, OH 4 $990,000 $247,500
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 1 $985,000 $985,000
    ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 4 $980,000 $245,000
    ELIZABETHTOWN-FORT KNOX, KY 4 $980,000 $245,000
    WENATCHEE, WA 4 $960,000 $240,000
    JEFFERSON CITY, MO 5 $955,000 $191,000
    LAREDO, TX 4 $950,000 $237,500
    MOBILE, AL 6 $950,000 $158,333
    HANFORD-CORCORAN, CA 3 $925,000 $308,333
    PANAMA CITY, FL 3 $925,000 $308,333
    SEBASTIAN-VERO BEACH, FL 5 $915,000 $183,000
    EVANSVILLE, IN-KY 7 $905,000 $129,286
    SAN RAFAEL, CA 2 $880,000 $440,000
    COLUMBIA, MO 4 $860,000 $215,000
    HINESVILLE, GA 5 $855,000 $171,000
    RACINE, WI 4 $840,000 $210,000
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 5 $835,000 $167,000
    SUMTER, SC 5 $835,000 $167,000
    HUNTINGTON-ASHLAND, WV-KY-OH 5 $835,000 $167,000
    TYLER, TX 4 $830,000 $207,500
    HOMOSASSA SPRINGS, FL 4 $830,000 $207,500
    MONROE, MI 5 $825,000 $165,000
    LANCASTER, PA 4 $820,000 $205,000
    GAINESVILLE, GA 3 $815,000 $271,667
    DES MOINES-WEST DES MOINES, IA 4 $800,000 $200,000
    FARGO, ND-MN 3 $795,000 $265,000
    ODESSA, TX 3 $795,000 $265,000
    DECATUR, AL 4 $770,000 $192,500
    ALBANY-LEBANON, OR 3 $765,000 $255,000
    SPRINGFIELD, IL 3 $765,000 $255,000
    BEAUMONT-PORT ARTHUR, TX 3 $755,000 $251,667
    FARMINGTON, NM 5 $745,000 $149,000
    CORPUS CHRISTI, TX 5 $735,000 $147,000
    WACO, TX 4 $730,000 $182,500
    AUBURN-OPELIKA, AL 3 $725,000 $241,667
    CHAMPAIGN-URBANA, IL 4 $700,000 $175,000
    ST. CLOUD, MN 4 $680,000 $170,000
    BURLINGTON, NC 4 $680,000 $170,000
    DURHAM-CHAPEL HILL, NC 3 $675,000 $225,000
    CHARLESTON, WV 3 $665,000 $221,667
    ASHEVILLE, NC 2 $660,000 $330,000
    DOVER, DE 3 $655,000 $218,333
    PORTLAND-SOUTH PORTLAND, ME 3 $655,000 $218,333
    HICKORY-LENOIR-MORGANTON, NC 4 $650,000 $162,500
    ROCKFORD, IL 3 $635,000 $211,667
    SALISBURY, MD-DE 3 $635,000 $211,667
    POCATELLO, ID 3 $635,000 $211,667
    GRAND FORKS, ND-MN 2 $620,000 $310,000
    FLORENCE, SC 4 $600,000 $150,000
    SANTA MARIA-SANTA BARBARA, CA 2 $600,000 $300,000
    CHATTANOOGA, TN-GA 3 $595,000 $198,333
    SHEBOYGAN, WI 3 $585,000 $195,000
    ROANOKE, VA 3 $565,000 $188,333
    HARRISBURG-CARLISLE, PA 3 $565,000 $188,333
    MANSFIELD, OH 4 $560,000 $140,000
    TALLAHASSEE, FL 2 $560,000 $280,000
    GREAT FALLS, MT 3 $545,000 $181,667
    BOSTON, MA 2 $540,000 $270,000
    LAKE CHARLES, LA 4 $530,000 $132,500
    LUBBOCK, TX 5 $525,000 $105,000
    KALAMAZOO-PORTAGE, MI 3 $505,000 $168,333
    SEBRING-AVON PARK, FL 2 $500,000 $250,000
    YUMA, AZ 3 $495,000 $165,000
    BLACKSBURG-CHRISTIANSBURG, VA 3 $485,000 $161,667
    MONROE, LA 2 $480,000 $240,000
    MANCHESTER-NASHUA, NH 2 $470,000 $235,000
    LEWISTON, ID-WA 2 $450,000 $225,000
    DAPHNE-FAIRHOPE-FOLEY, AL 2 $450,000 $225,000
    EAU CLAIRE, WI 1 $445,000 $445,000
    MICHIGAN CITY-LA PORTE, IN 3 $445,000 $148,333
    LYNCHBURG, VA 2 $440,000 $220,000
    BOWLING GREEN, KY 2 $440,000 $220,000
    ALBANY, GA 3 $425,000 $141,667
    CHARLOTTESVILLE, VA 1 $415,000 $415,000
    VICTORIA, TX 2 $410,000 $205,000
    HOUMA-THIBODAUX, LA 2 $400,000 $200,000
    MACON-BIBB COUNTY, GA 3 $395,000 $131,667
    LA CROSSE-ONALASKA, WI-MN 2 $390,000 $195,000
    THE VILLAGES, FL 2 $370,000 $185,000
    JOPLIN, MO 1 $365,000 $365,000
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 2 $340,000 $170,000
    PARKERSBURG-VIENNA, WV 3 $335,000 $111,667
    CEDAR RAPIDS, IA 1 $335,000 $335,000
    SIERRA VISTA-DOUGLAS, AZ 1 $335,000 $335,000
    RAPID CITY, SD 2 $330,000 $165,000
    WICHITA FALLS, TX 2 $330,000 $165,000
    CARBONDALE-MARION, IL 3 $325,000 $108,333
    MISSOULA, MT 1 $325,000 $325,000
    GOLDSBORO, NC 2 $320,000 $160,000
    LAWTON, OK 3 $315,000 $105,000
    BRUNSWICK, GA 2 $310,000 $155,000
    LEBANON, PA 1 $305,000 $305,000
    WILLIAMSPORT, PA 1 $305,000 $305,000
    BARNSTABLE TOWN, MA 1 $295,000 $295,000
    JOHNSON CITY, TN 1 $295,000 $295,000
    SOUTH BEND-MISHAWAKA, IN-MI 2 $290,000 $145,000
    BLOOMINGTON, IL 1 $285,000 $285,000
    APPLETON, WI 2 $280,000 $140,000
    STAUNTON, VA 1 $275,000 $275,000
    TEXARKANA, TX-AR 3 $265,000 $88,333
    PINE BLUFF, AR 1 $255,000 $255,000
    ANNISTON-OXFORD, AL 3 $245,000 $81,667
    BAY CITY, MI 1 $235,000 $235,000
    IDAHO FALLS, ID 1 $235,000 $235,000
    BANGOR, ME 1 $235,000 $235,000
    WEIRTON-STEUBENVILLE, WV-OH 1 $235,000 $235,000
    FORT WAYNE, IN 2 $230,000 $115,000
    BLOOMINGTON, IN 2 $220,000 $110,000
    SAN ANGELO, TX 2 $210,000 $105,000
    NEW BERN, NC 1 $195,000 $195,000
    IOWA CITY, IA 1 $195,000 $195,000
    ERIE, PA 2 $190,000 $95,000
    VALDOSTA, GA 2 $180,000 $90,000
    DULUTH, MN-WI 1 $165,000 $165,000
    KOKOMO, IN 1 $165,000 $165,000
    TERRE HAUTE, IN 1 $155,000 $155,000
    HOT SPRINGS, AR 1 $155,000 $155,000
    BATTLE CREEK, MI 1 $155,000 $155,000
    EAST STROUDSBURG, PA 1 $155,000 $155,000
    MUSKEGON, MI 1 $155,000 $155,000
    LAFAYETTE-WEST LAFAYETTE, IN 1 $145,000 $145,000
    PEORIA, IL 2 $140,000 $70,000
    MUNCIE, IN 1 $135,000 $135,000
    WORCESTER, MA-CT 1 $135,000 $135,000
    ROME, GA 1 $135,000 $135,000
    JONESBORO, AR 1 $125,000 $125,000
    GREENVILLE, NC 1 $115,000 $115,000
    HARRISONBURG, VA 1 $115,000 $115,000
    BISMARCK, ND 1 $115,000 $115,000
    WATERLOO-CEDAR FALLS, IA 1 $115,000 $115,000
    JACKSON, MI 1 $95,000 $95,000
    BINGHAMTON, NY 1 $95,000 $95,000
    SCRANTON--WILKES-BARRE, PA 1 $95,000 $95,000
    DANVILLE, IL 1 $85,000 $85,000
    WALLA WALLA, WA 1 $75,000 $75,000
    MIDLAND, MI 1 $75,000 $75,000
    WAUSAU-WESTON, WI 1 $75,000 $75,000
    ROCKY MOUNT, NC 1 $65,000 $65,000
    DECATUR, IL 1 $45,000 $45,000

    Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

    Interest Rate & Spreads

    Loan Rate Originations Total Value Average Loan
    <2.5% 94 $1,120,000 $11,915
    2.5-3% 293 $90,385,000 $308,481
    3-4% 5,698 $1,580,430,000 $277,366
    4-5% 2,931 $705,775,000 $240,797
    5-6% 1,145 $239,645,000 $209,297
    6-7% 173 $36,705,000 $212,168
    7-8% 8 $1,650,000 $206,250
    Over 8% 2 $540,000 $270,000

    Loan Sizing

    Loan Size Originations Total Value Average Loan
    $100,000 or less 811 $52,025,000 $64,149
    $100k-200k 3,113 $476,595,000 $153,098
    $200k-400k 5,066 $1,427,450,000 $281,771
    $400k-600k 1,183 $549,535,000 $464,527
    $600k-1000k 202 $142,170,000 $703,812
    $Over $1MM 8 $8,750,000 $1,093,750

    Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    20-40% 120 $27,110,000 $225,917
    40-60% 571 $146,125,000 $255,911
    60-80% 2,156 $597,560,000 $277,161
    80-100% 5,353 $1,345,825,000 $251,415
    Over 100% 273 $82,015,000 $300,421
    Under 20% 175 $4,415,000 $25,229

    LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

    Applicant Income

    Applicant Income Originations Total Value Average Loan
    $100k-150k 1,611 $503,395,000 $312,474
    $150k-250k 819 $316,235,000 $386,123
    $50k-75k 1,869 $364,145,000 $194,834
    $50k-or less 2,297 $459,765,000 $200,159
    $75k-100k 1,416 $352,060,000 $248,630
    $Over $250k 234 $104,710,000 $447,479

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan
    White 7,110 $1,803,240,000 $253,620
    Not provided 1,391 $385,825,000 $277,372
    Black 1,427 $325,015,000 $227,761
    Asian 310 $100,700,000 $324,839
    American Indian 73 $17,875,000 $244,863
    Asian Indian 25 $9,235,000 $369,400
    Native Hawaiian 30 $8,540,000 $284,667
    Chinese 7 $2,355,000 $336,429
    Filipino 5 $1,685,000 $337,000
    Vietnamese 2 $1,090,000 $545,000
    Other Asian 2 $500,000 $250,000
    Korean 1 $465,000 $465,000

    Approval Rates

    Total approvals of all applications
    94.09%

    A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

    Pick Rate

    Approvals leading to origination
    82.04%

    A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 10,383 $2,656,525,000 $255,853

    Origination Fees

    Origination Fee Originations Total Value Average Loan
    $<1k 4,338 $1,069,260,000 $246,487
    $1k-2k 2,966 $765,040,000 $257,937
    $2k-3k 1,114 $239,760,000 $215,224
    $3k-4k 1,146 $298,110,000 $260,131
    $5k+ 640 $232,660,000 $363,531

    Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 237 $34,265,000 $144,578
    Single Family (1-4 Units):Site-Built 10,146 $2,622,260,000 $258,453