Lo Mortgage Rates, Fees & Info

BELLEVUE, WA

LEI: 54930040HIIQWXRS6K39

Tax ID: 91-1529683

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Lo is a smaller mortgage company specializing in Refi loans. Lo has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, San Francisco, Portland, San Jose, and Los Angeles among others. We have data for 20 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. They have an above average pick rate when compared to similar lenders. Lo is typically a low 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 about average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    1,715

    Origination Dollar Volume (All Markets)

    $767,925,000

    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) 1,573 $707,385,000 $449,704 $2,779 3.31%
    Outside of Metro Areas 85 $39,515,000 $464,882 $1,791 3.36%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,055,000 $450,556 $3,501 33.11%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 10 $3,090,000 $309,000 $2,986 2.99%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $2,985,000 $426,429 $3,468 42.25%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $2,195,000 $439,000 $4,197 2.60%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 6 $1,890,000 $315,000 $1,691 3.02%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,020,000 $510,000 $6,358 3.31%
    Oak Harbor, WA (FHA|USDA|VA) 2 $930,000 $465,000 $0 2.81%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $695,000 $231,667 $4,063 3.25%
    WENATCHEE, WA (FHA|USDA|VA) 2 $640,000 $320,000 $3,048 2.81%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $515,000 $515,000 $3,928 2.75%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $445,000 $445,000 $1,605 2.75%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $420,000 $210,000 $3,458 3.63%
    Shelton, WA (FHA|USDA|VA) 1 $415,000 $415,000 $3,727 3.00%
    SALINAS, CA (FHA|USDA|VA) 1 $395,000 $395,000 $3,164 3.13%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $385,000 $385,000 $3,758 2.63%
    Moses Lake, WA (FHA|USDA|VA) 2 $380,000 $190,000 $2,859 3.81%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $375,000 $375,000 $2,593 2.88%
    Centralia, WA (FHA|USDA|VA) 1 $195,000 $195,000 $3,075 3.88%
    Lo's top markets include Seattle, San Francisco, Portland, San Jose, and Los Angeles among others.

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

    TRISTAR FINANCE, INC.
    Similarity Rank: 378
    LOANSNAP, INC.
    Similarity Rank: 1106
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 1830
    Kwik Mortgage Corporation
    Similarity Rank: 2670
    SOUND
    Similarity Rank: 3640
    U S WIDE FINANCIAL LLC
    Similarity Rank: 3800
    Shea Mortgage Inc.
    Similarity Rank: 4053
    CAMPOS FINANCIAL CORP.
    Similarity Rank: 4170
    Armed Forces Bank
    Similarity Rank: 4260
    NorthWest Plus Credit Union
    Similarity Rank: 4608

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,715 $767,925,000 $447,770 $2,769 3.62%

    For 2020, Lo's most frequently originated type of loan was Conventional, with 1,715 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,380 $607,060,000 $439,899 $2,555 3.76%
    Home Purchase 271 $133,345,000 $492,048 $3,775 3.01%
    Cash Out Refi 52 $22,350,000 $429,808 $2,946 3.08%
    Other 5 $2,015,000 $403,000 $2,658 3.03%
    NA 5 $2,465,000 $493,000 $781 3.03%
    Home Improvement 2 $690,000 $345,000 $3,281 3.81%

    For 2020, Lo's most frequently cited loan purpose was Refi, with 1,380 originations. The 2nd most popular reason was Home Purchase, with 271 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,134 $527,430,000 $465,106 $3,047 3.80%
    15 Year 302 $115,930,000 $383,874 $1,780 2.65%
    Other 251 $114,005,000 $454,203 $2,871 2.95%
    20 Year 23 $8,455,000 $367,609 $1,927 14.76%
    10 Year 2 $580,000 $290,000 $2,551 2.44%
    30+ year 2 $1,060,000 $530,000 $3,308 2.88%
    3 Year 1 $465,000 $465,000 $0 2.75%

    For 2020, Lo's most frequently cited loan duration was 30 Year, with 1,134 originations. The 2nd most popular length was 15 Year, with 302 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 534 $233,120,000 $436,554
    $<1k 124 $54,810,000 $442,016
    $5k+ 11 $6,445,000 $585,909
    $2k-3k 10 $4,190,000 $419,000
    $4k-5k 3 $1,395,000 $465,000
    $3k-4k 2 $630,000 $315,000

    Lo's average total fees were $3,047, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 534 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 923 $423,095,000 $458,391
    3-4% 531 $238,525,000 $449,200
    <2.5% 233 $94,345,000 $404,914
    4-5% 19 $7,955,000 $418,684
    Over 8% 5 $2,435,000 $487,000
    5-6% 2 $1,220,000 $610,000

    During 2020, Lo's average interest rate for loans was 3.80%, while their most frequently originated rate bucket for loans was 2.5-3%, with 923 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 805 $390,935,000 $485,634 $2,804 3.62%
    $200k-400k 631 $202,555,000 $321,006 $2,735 3.82%
    $600k-1MM 236 $162,160,000 $687,119 $2,778 3.17%
    $100k-200k 31 $5,145,000 $165,968 $2,578 2.94%
    $100,000 or less 8 $210,000 $26,250 $1,840 2.88%
    $1MM+ 4 $6,920,000 $1,730,000 $4,264 3.44%

    2020 saw Lo place emphasis on $400k-600k loans with 805 originations, totaling $390,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 735 $338,715,000 $460,837 $3,424 3.67%
    $100k-150k 602 $272,400,000 $452,492 $2,072 3.44%
    $250k+ 202 $97,590,000 $483,119 $2,665 4.50%
    $75k-100k 98 $36,970,000 $377,245 $2,463 3.00%
    $50k-75k 64 $18,480,000 $288,750 $2,693 2.96%
    $50k or less 14 $3,770,000 $269,286 $2,601 3.10%

    Lo lent most frequently to those with incomes in the $150k-250k range, with 735 originations. The second most popular income band? $100k-150k, with 602 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 602 $267,510,000 $444,369 $1,994 3.82%
    30-36% 388 $181,930,000 $468,892 $2,201 4.33%
    <20% 212 $82,100,000 $387,264 $3,877 2.87%
    37% 52 $25,740,000 $495,000 $12,584 3.75%
    36% 49 $22,675,000 $462,755 $2,315 2.97%
    38% 49 $22,865,000 $466,633 $2,699 3.01%
    41% 45 $19,175,000 $426,111 $2,454 3.08%
    40% 43 $20,955,000 $487,326 $2,490 3.20%
    42% 42 $19,870,000 $473,095 $2,982 3.09%
    39% 42 $18,880,000 $449,524 $2,333 3.14%
    45% 35 $16,795,000 $479,857 $2,783 2.92%
    43% 32 $15,390,000 $480,938 $2,784 3.11%
    44% 27 $12,105,000 $448,333 $2,933 3.08%
    47% 26 $10,860,000 $417,692 $3,720 2.96%
    48% 21 $8,095,000 $385,476 $2,575 2.98%
    49% 20 $8,460,000 $423,000 $2,187 3.24%
    46% 18 $9,410,000 $522,778 $2,532 3.08%
    50-60% 5 $2,295,000 $459,000 $2,319 3.78%
    >60% 2 $660,000 $330,000 $2,320 2.75%

    Lo lent most frequently to those with DTI ratios of 20-30%, with 602 originations. The next most common DTI ratio? 30-36%, with 388 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 1,521 $686,495,000 $451,345 $2,752 3.52%
    White 146 $62,140,000 $425,616 $2,811 4.89%
    Asian Indian 16 $7,260,000 $453,750 $3,852 2.88%
    Not provided 12 $4,570,000 $380,833 $3,286 3.02%
    Chinese 7 $3,135,000 $447,857 $3,128 2.79%
    Vietnamese 3 $1,525,000 $508,333 $0 3.29%
    Black 4 $1,080,000 $270,000 $1,976 2.84%
    Other Asian 3 $805,000 $268,333 $3,100 2.79%
    Korean 1 $515,000 $515,000 $10,100 2.88%
    Other Pacific Islander 1 $295,000 $295,000 $2,235 3.13%
    American Indian 1 $105,000 $105,000 $3,085 3.50%

    Approval Rates

    Total approvals of all applications
    99.65%

    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
    99.48%

    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 15 $7,615,000 $507,667
    1000.0 1 $515,000 $515,000
    1120.0 23 $10,005,000 $435,000
    1205.0 1 $365,000 $365,000
    1500.0 2 $880,000 $440,000
    3159.0 1 $615,000 $615,000
    4909.0 1 $295,000 $295,000
    82.0 1 $215,000 $215,000
    NA 1,670 $747,420,000 $447,557

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $475,000 $475,000
    Single Family (1-4 Units):Site-Built 1,714 $767,450,000 $447,754

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 269 $93,255,000 $346,673 $2,210 5.87%
    40-60% 594 $254,500,000 $428,451 $3,033 2.90%
    60-80% 677 $334,625,000 $494,276 $2,751 3.48%
    80-100% 126 $66,850,000 $530,556 $2,796 3.24%
    Over 100% 23 $12,815,000 $557,174 $2,724 2.82%
    Under 20% 26 $5,880,000 $226,154 $2,702 2.81%