Lo Mortgage Rates, Fees & Info

BELLEVUE, WA

LEI: 54930040HIIQWXRS6K39

Tax ID: 91-1529683

5 stars - Updated: 3/27/24 - out of 5 stars, based on 7 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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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

55

Origination Dollar Volume (All Markets)

$31,985,000

Awards

LO 30 Year Conventional Loans silver
Show all (1) awards

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 $4,750.

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%
Lo's top markets include Seattle, Mount Vernon, and Ellensburg among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • 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.

    LO, INC.
    Similarity Rank: 492
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1276
    MORTGAGE LENDING GROUP LLC
    Similarity Rank: 1408
    America's Credit Union
    Similarity Rank: 1610
    South Pacific Financial Corporation
    Similarity Rank: 1716
    East West Bank
    Similarity Rank: 1739
    SOUND
    Similarity Rank: 1782
    PULTE MORTGAGE LLC
    Similarity Rank: 1988

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 43 $24,405,000 $567,558 $6,039 6.71%
    Other 11 $7,085,000 $644,091 $5,774 6.66%
    20 Year 1 $495,000 $495,000 $5,647 6.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 21 $12,305,000 $585,952
    $5k+ 10 $7,450,000 $745,000
    $<1k 6 $2,730,000 $455,000
    $2k-3k 6 $3,560,000 $593,333
    $3k-4k 2 $1,310,000 $655,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 24 $16,980,000 $707,500 $6,493 6.81%
    $400k-600k 16 $8,020,000 $501,250 $5,771 6.61%
    $200k-400k 13 $4,095,000 $315,000 $4,414 6.51%
    $1MM+ 2 $2,890,000 $1,445,000 $10,750 7.00%

    2023 saw Lo place emphasis on $600k-1MM loans with 24 originations, totaling $16,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $10,815,000 $569,211 $5,600 6.51%
    $150k-250k 16 $8,430,000 $526,875 $6,050 6.69%
    $250k+ 13 $10,405,000 $800,385 $6,935 7.10%
    $75k-100k 4 $1,460,000 $365,000 $6,031 6.62%
    $50k-75k 3 $875,000 $291,667 $4,219 6.08%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 10 $5,730,000 $573,000 $5,185 6.79%
    20-30% 8 $4,070,000 $508,750 $7,076 6.58%
    49% 5 $3,195,000 $639,000 $5,788 6.62%
    45% 4 $1,970,000 $492,500 $5,815 6.72%
    48% 4 $2,270,000 $567,500 $6,988 6.56%
    44% 4 $2,710,000 $677,500 $8,086 6.72%
    38% 3 $2,005,000 $668,333 $7,970 6.92%
    36% 3 $1,695,000 $565,000 $4,424 6.88%
    39% 3 $2,335,000 $778,333 $5,138 6.29%
    41% 2 $1,560,000 $780,000 $3,869 6.75%
    43% 2 $1,320,000 $660,000 $6,021 7.00%
    46% 2 $610,000 $305,000 $4,140 6.06%
    >60% 1 $595,000 $595,000 $6,222 6.88%
    40% 1 $575,000 $575,000 $5,481 6.99%
    42% 1 $615,000 $615,000 $6,969 6.88%
    47% 1 $475,000 $475,000 $4,823 7.63%
    <20% 1 $255,000 $255,000 $0 5.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 48 $28,960,000 $603,333 $6,004 6.72%
    White 4 $1,590,000 $397,500 $4,096 6.47%
    Black 1 $725,000 $725,000 $14,395 7.50%
    Chinese 2 $710,000 $355,000 $4,301 5.94%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points 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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $31,985,000 $581,545

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $1,610,000 $402,500 $4,168 6.47%
    40-60% 12 $5,650,000 $470,833 $5,766 6.38%
    60-80% 29 $18,525,000 $638,793 $6,860 6.90%
    80-100% 10 $6,200,000 $620,000 $4,785 6.53%