Beacon Mortgage Rates, Fees & Info
La Porte, TXLEI: 54930031G7ALOZB0HI92
Tax ID: 74-1142857
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Mortgage Data
Review & Overview
Beacon is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Beacon has a high proportion of conventional loans. Their top (well, only) market is Houston.Beacon 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.
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Originations
35Origination Dollar Volume (All Markets)
$3,805,000Top 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) | 30 | $3,170,000 | $105,667 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $635,000 | $127,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 35 | $3,805,000 | $108,714 | $0 | 0.00% |
For 2019, Beacon's most frequently originated type of loan was Conventional, with 35 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 27 | $2,125,000 | $78,704 | $0 | 0.00% |
| Home Purchase | 8 | $1,680,000 | $210,000 | $0 | 0.00% |
For 2019, Beacon's most frequently cited loan purpose was Cash Out Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $3,805,000 | $108,714 | $0 | 0.00% |
For 2019, Beacon's most frequently cited loan duration was Other, with 35 originations.
Loan Sizing
2019 saw Beacon place emphasis on $100,000 or less loans with 21 originations, totaling $1,245,000 in origination value.
Applicant Income
Beacon lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 35 | $3,805,000 | $108,714 | $0 | 0.00% |
Beacon lent most frequently to those with DTI ratios of Exempt%, with 35 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $2,820,000 | $108,462 | $0 | 0.00% |
| Not provided | 8 | $940,000 | $117,500 | $0 | 0.00% |
| Black | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications83.93%
Beacon has a below average approval rate.
Pick Rate
Approvals leading to origination77.14%
Beacon has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 35 | $3,805,000 | $108,714 |