Lo Mortgage Rates, Fees & Info
BELLEVUE, WALEI: 54930040HIIQWXRS6K39
Tax ID: 91-1529683
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Mortgage Data
Review & Overview
Lo is a smaller mortgage company specializing in Home Purchase and Refi loans. Lo has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Mount Vernon, and Ellensburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Lo has an above average approval rate when compared to the average across all lenders. Lo is typically an average 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.
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Originations
55Origination Dollar Volume (All Markets)
$31,985,000Awards
LO - 2023
LO is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Lo's average 30 year fixed mortgage rate was
6.71%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.23%.
Relative Fees (Closing Costs)
Lo's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,039.
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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 52 | $30,770,000 | $591,731 | $6,021 | 6.65% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,647 | 6.13% |
| Outside of Metro Areas | 1 | $475,000 | $475,000 | $4,823 | 7.63% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 8.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against LO based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 55 | $31,985,000 | $581,545 | $5,989 | 6.69% |
For 2023, Lo's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 42 | $23,890,000 | $568,810 | $6,193 | 6.63% |
| Refi | 13 | $8,095,000 | $622,692 | $5,344 | 6.86% |
For 2023, Lo's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
For 2023, Lo's most frequently cited loan duration was 30 Year, with 43 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
Lo's average total fees were $6,039, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 33 | $19,665,000 | $595,909 |
| 7-8% | 11 | $6,875,000 | $625,000 |
| 5-6% | 10 | $4,700,000 | $470,000 |
| Over 8% | 1 | $745,000 | $745,000 |
During 2023, Lo's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 33 originations.
Loan Sizing
2023 saw Lo place emphasis on $600k-1MM loans with 24 originations, totaling $16,980,000 in origination value.
Applicant Income
Lo lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 16 originations.
Applicant Debt to Income Ratio
Lo lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Lo has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $255,000 | $255,000 |
| 4250.0 | 1 | $605,000 | $605,000 |
| 6840.0 | 1 | $685,000 | $685,000 |
| NA | 52 | $30,440,000 | $585,385 |