Lo Mortgage Rates, Fees & Info
BELLEVUE, WALEI: 54930040HIIQWXRS6K39
Tax ID: 91-1529683
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Lo is a smaller mortgage company specializing in Refi and Home Purchase loans. Lo has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Seattle, Portland, Los Angeles, San Francisco, and San Jose among others. Lo has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Lo is typically a low fee lendor.Originations
1,195Origination Dollar Volume (All Markets)
$543,145,000Awards
LO - 2021
LO is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for LO ?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Lo 's average 30 year fixed rate mortgage of loans were
2.9%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.25%.
Relative Fees
Lo 's average total fees for a 30 year fixed rate
mortgage are $2,770.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1,115 | $508,755,000 | $456,283 | $2,566 | 2.76% |
| Outside of Metro Areas | 15 | $6,555,000 | $437,000 | $2,341 | 2.78% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 14 | $5,430,000 | $387,857 | $3,258 | 2.77% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 10 | $4,230,000 | $423,000 | $3,503 | 2.80% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 8 | $4,010,000 | $501,250 | $4,026 | 2.83% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 6 | $3,100,000 | $516,667 | $3,543 | 2.81% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 8 | $2,840,000 | $355,000 | $4,518 | 3.22% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $4,394 | 2.79% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $3,663 | 2.50% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $12,635 | 2.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 3.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,203 | 3.38% |
| BELLINGHAM, WA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $2,649 | 2.44% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,475 | 2.63% |
| Shelton, WA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,500 | 2.75% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $2,955 | 2.69% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,173 | 2.75% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,838 | 2.50% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $7,500 | 2.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,444 | 3.50% |
Lo 's top markets include Seattle, Portland, Los Angeles, San Francisco, and San Jose among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,194 | $542,580,000 | $454,422 | $2,626 | 2.76% |
| FHA | 1 | $565,000 | $565,000 | $13,682 | 2.88% |
For the 2021 period, Lo 's most frequently originated loan type of loans were Conventional, with 1,194 originations. Their 2nd most popular type is FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 800 | $340,920,000 | $426,150 | $1,981 | 2.71% |
| Home Purchase | 327 | $170,475,000 | $521,330 | $4,078 | 2.86% |
| Cash Out Refi | 65 | $30,915,000 | $475,615 | $2,966 | 2.92% |
| NA | 2 | $530,000 | $265,000 | $1,250 | 2.31% |
| Home Improvement | 1 | $305,000 | $305,000 | $0 | 2.38% |
For the 2021, Lo 's most frequently cited loan purpose of loans were Refi, with 800 originations. The 2nd most popular reason of loans were Home Purchase, with 327 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 783 | $376,295,000 | $480,581 | $2,770 | 2.90% |
| 15 Year | 208 | $77,290,000 | $371,587 | $2,003 | 2.33% |
| Other | 176 | $80,260,000 | $456,023 | $2,853 | 2.71% |
| 10 Year | 14 | $3,340,000 | $238,571 | $2,473 | 2.31% |
| 20 Year | 14 | $5,960,000 | $425,714 | $2,587 | 2.52% |
For the 2021, Lo 's most frequently cited loan length of loans were 30 Year, with 783 originations. The 2nd most popular length of loans were 15 Year, with 208 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 362 | $163,660,000 | $452,099 |
| $<1k | 126 | $53,010,000 | $420,714 |
| $2k-3k | 6 | $2,990,000 | $498,333 |
| $3k-4k | 6 | $3,090,000 | $515,000 |
| $5k+ | 3 | $2,215,000 | $738,333 |
$2,770 of loans were Lo 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 362 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 601 | $290,415,000 | $483,220 |
| <2.5% | 340 | $138,050,000 | $406,029 |
| 3-4% | 252 | $113,860,000 | $451,825 |
During 2021, Lo 's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 601 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $400k-600k | 543 | $267,435,000 | $492,514 | $2,642 | 2.72% |
| $200k-400k | 412 | $128,670,000 | $312,306 | $2,243 | 2.74% |
| $600k-1MM | 193 | $134,925,000 | $699,093 | $3,383 | 2.94% |
| $100k-200k | 39 | $6,605,000 | $169,359 | $2,475 | 2.73% |
| $100,000 or less | 4 | $270,000 | $67,500 | $2,791 | 2.69% |
| $1MM+ | 4 | $5,240,000 | $1,310,000 | $6,069 | 2.97% |
2021 saw Lo place emphasis on $400k-600k loans with 543 originations, totaling $267,435,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 507 | $236,185,000 | $465,848 | $2,425 | 2.72% |
| $100k-150k | 345 | $160,555,000 | $465,377 | $2,742 | 2.74% |
| $250k+ | 174 | $88,300,000 | $507,471 | $2,777 | 2.93% |
| $75k-100k | 100 | $38,460,000 | $384,600 | $3,005 | 2.77% |
| $50k-75k | 52 | $16,090,000 | $309,423 | $2,736 | 2.78% |
| $50k or less | 17 | $3,555,000 | $209,118 | $2,844 | 2.84% |
Lo lent most frequently to those with incomes in the $150k-250k range, with 507 originations. The second most popular income band? $100k-150k, with 345 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 369 | $162,955,000 | $441,612 | $2,425 | 2.69% |
| 30-36% | 265 | $127,035,000 | $479,377 | $2,706 | 2.74% |
| <20% | 141 | $55,755,000 | $395,426 | $2,383 | 2.66% |
| 36% | 42 | $20,190,000 | $480,714 | $3,027 | 2.82% |
| 39% | 37 | $18,005,000 | $486,622 | $2,409 | 2.99% |
| 43% | 36 | $16,920,000 | $470,000 | $2,869 | 2.93% |
| 38% | 34 | $15,590,000 | $458,529 | $2,562 | 2.76% |
| 41% | 32 | $14,870,000 | $464,688 | $2,632 | 2.91% |
| 37% | 32 | $15,570,000 | $486,563 | $3,053 | 2.84% |
| 44% | 30 | $14,180,000 | $472,667 | $2,978 | 3.01% |
| 42% | 29 | $13,335,000 | $459,828 | $3,142 | 2.90% |
| 49% | 29 | $13,945,000 | $480,862 | $2,819 | 2.75% |
| 45% | 27 | $12,605,000 | $466,852 | $2,961 | 2.80% |
| 46% | 27 | $11,625,000 | $430,556 | $3,005 | 2.84% |
| 48% | 22 | $9,760,000 | $443,636 | $2,337 | 2.95% |
| 40% | 21 | $11,155,000 | $531,190 | $3,829 | 2.90% |
| 47% | 17 | $7,435,000 | $437,353 | $2,866 | 2.87% |
| >60% | 1 | $545,000 | $545,000 | $3,160 | 2.88% |
Lo lent most frequently to those with DTI ratios of 20-30%, with 369 originations. The next most common DTI ratio? 30-36%, with 265 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Asian | 1,087 | $496,755,000 | $456,996 | $2,589 | 2.77% |
| White | 93 | $39,985,000 | $429,946 | $3,141 | 2.74% |
| Asian Indian | 6 | $2,930,000 | $488,333 | $4,434 | 2.63% |
| Not provided | 5 | $2,215,000 | $443,000 | $2,919 | 3.08% |
| Chinese | 2 | $760,000 | $380,000 | $3,029 | 2.94% |
| Vietnamese | 1 | $305,000 | $305,000 | $2,940 | 2.38% |
| Other Asian | 1 | $195,000 | $195,000 | $3,057 | 2.38% |
Approval Rates
Total approvals of all applications99.82%
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 origination99.40%
Lo has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 3 | $1,365,000 | $455,000 |
| 1176.2 | 1 | $285,000 | $285,000 |
| 1618.0 | 1 | $405,000 | $405,000 |
| 4020.0 | 1 | $475,000 | $475,000 |
| NA | 1,189 | $540,615,000 | $454,680 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,195 | $543,145,000 | $454,515 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 274 | $95,310,000 | $347,847 | $2,477 | 2.63% |
| 40-60% | 406 | $187,330,000 | $461,404 | $2,050 | 2.74% |
| 60-80% | 412 | $212,230,000 | $515,121 | $2,998 | 2.89% |
| 80-100% | 73 | $40,125,000 | $549,658 | $4,391 | 2.80% |
| Under 20% | 29 | $7,835,000 | $270,172 | $2,433 | 2.55% |
