Planet Home Lending Llc

Meriden, CT 06450

LEI: 54930021WPEXNHYZUL09

Tax ID: 26-0362771

2019 Data | 2018 Data


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