Grande Homes Mortgage Rates, Fees & Info

SAN DIEGO, CA

LEI: 5493004ZQGH3G6GHZ049

Tax ID: 65-1211106

4.7 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Grande Homes is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Grande Homes has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include San Diego, Riverside, Los Angeles, Salinas, and San Francisco among others. Grande Homes has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Grande Homes is typically an average fee lendor.


Originations

501

Origination Dollar Volume (All Markets)

$217,365,000
Show all (7) awards

Relative Rate

Grande Homes 's average 30 year fixed rate mortgage of loans were 2.85%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.3%.

Relative Fees

Grande Homes 's average total fees for a 30 year fixed rate mortgage are $5,954.

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
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 315 $144,935,000 $460,111 $5,807 2.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 103 $35,595,000 $345,583 $6,059 2.90%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 54 $24,340,000 $450,741 $4,793 3.02%
SALINAS, CA (FHA|USDA|VA) 10 $4,650,000 $465,000 $6,427 3.01%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 7 $4,165,000 $595,000 $7,538 2.91%
MERCED, CA (FHA|USDA|VA) 2 $800,000 $400,000 $5,281 3.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $485,000 $485,000 $4,275 3.63%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $375,000 $375,000 $8,641 3.50%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $365,000 $365,000 $3,455 3.25%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $335,000 $335,000 $13,888 2.50%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $265,000 $265,000 $3,435 2.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $245,000 $245,000 $4,435 2.99%
STOCKTON, CA (FHA|USDA|VA) 1 $235,000 $235,000 $3,069 2.25%
VALLEJO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $6,381 2.88%
VISALIA, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,930 3.25%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $135,000 $135,000 $7,459 2.75%

Grande Homes 's top markets include San Diego, Riverside, Los Angeles, Salinas, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 340 $137,750,000 $405,147 $4,811 2.99%
VA 121 $62,145,000 $513,595 $6,100 2.40%
FHA 40 $17,470,000 $436,750 $13,027 2.70%

For the 2021 period, Grande Homes 's most frequently originated loan type of loans were Conventional, with 340 originations. Their 2nd most popular type is VA, with 121 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 233 $96,815,000 $415,515 $4,376 2.72%
Cash Out Refi 169 $72,005,000 $426,065 $5,523 2.93%
Home Purchase 97 $48,285,000 $497,784 $9,690 2.89%
Other 2 $260,000 $130,000 $1,742 2.50%

For the 2021, Grande Homes 's most frequently cited loan purpose of loans were Refi, with 233 originations. The 2nd most popular reason of loans were Cash Out Refi, with 169 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 462 $205,960,000 $445,801 $5,954 2.85%
15 Year 21 $5,615,000 $267,381 $3,574 2.27%
20 Year 12 $3,800,000 $316,667 $4,191 2.71%
Other 6 $1,990,000 $331,667 $3,885 2.83%

For the 2021, Grande Homes 's most frequently cited loan length of loans were 30 Year, with 462 originations. The 2nd most popular length of loans were 15 Year, with 21 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 348 $151,430,000 $435,144
$<1k 56 $23,410,000 $418,036
$5k+ 40 $19,700,000 $492,500
$3k-4k 35 $14,625,000 $417,857
$2k-3k 17 $6,125,000 $360,294

$5,954 of loans were Grande Homes 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 348 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 214 $89,850,000 $419,860
<2.5% 150 $65,540,000 $436,933
3-4% 130 $58,960,000 $453,538
4-5% 7 $3,015,000 $430,714

During 2021, Grande Homes 's average interest rate of loans were 2.85%, while their most frequently originated rate bucket of loans were 2.5-3%, with 214 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 214 $104,580,000 $488,692 $5,898 2.80%
$200k-400k 191 $60,895,000 $318,822 $4,989 2.84%
$600k-1MM 67 $46,565,000 $695,000 $8,507 2.91%
$100k-200k 26 $4,290,000 $165,000 $3,896 2.69%
$100,000 or less 2 $30,000 $15,000 $250 1.00%
$1MM+ 1 $1,005,000 $1,005,000 $8,338 2.75%

2021 saw Grande Homes place emphasis on $400k-600k loans with 214 originations, totaling $104,580,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 120 $56,820,000 $473,500 $5,711 2.84%
$50k or less 103 $41,335,000 $401,311 $5,144 2.59%
$75k-100k 94 $38,750,000 $412,234 $6,705 2.92%
$50k-75k 91 $33,475,000 $367,857 $6,135 2.91%
$150k-250k 79 $39,995,000 $506,266 $5,419 2.86%
$250k+ 14 $6,990,000 $499,286 $4,821 2.81%

Grande Homes lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $50k or less, with 103 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 65 $27,595,000 $424,538 $4,874 2.88%
20-30% 61 $25,225,000 $413,525 $4,500 2.77%
>60% 42 $19,980,000 $475,714 $3,175 2.32%
42% 30 $11,740,000 $391,333 $5,194 2.95%
50-60% 27 $15,125,000 $560,185 $12,469 2.74%
44% 26 $10,860,000 $417,692 $5,478 3.06%
49% 24 $11,320,000 $471,667 $7,669 3.10%
43% 23 $10,345,000 $449,783 $7,880 2.99%
40% 23 $8,565,000 $372,391 $5,637 3.04%
36% 20 $8,740,000 $437,000 $5,376 2.91%
47% 20 $8,980,000 $449,000 $8,070 2.82%
37% 20 $9,520,000 $476,000 $5,497 2.89%
39% 19 $7,385,000 $388,684 $3,954 2.81%
45% 16 $6,210,000 $388,125 $6,872 2.73%
38% 16 $6,810,000 $425,625 $5,155 2.98%
48% 14 $5,610,000 $400,714 $6,830 3.01%
46% 14 $5,890,000 $420,714 $7,035 2.88%
<20% 13 $4,335,000 $333,462 $3,585 2.74%
41% 11 $4,895,000 $445,000 $6,055 2.70%

Grande Homes lent most frequently to those with DTI ratios of 30-36%, with 65 originations. The next most common DTI ratio? 20-30%, with 61 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 297 $136,485,000 $459,545 $5,739 2.77%
White 117 $44,025,000 $376,282 $6,387 2.91%
Not provided 58 $24,050,000 $414,655 $4,923 2.91%
Filipino 14 $6,740,000 $481,429 $4,527 2.82%
Black 6 $2,190,000 $365,000 $7,030 2.88%
Native Hawaiian 3 $1,295,000 $431,667 $5,024 2.83%
Other Asian 2 $1,190,000 $595,000 $8,507 2.88%
American Indian 3 $1,075,000 $358,333 $7,393 3.08%
Vietnamese 1 $315,000 $315,000 $1,680 1.88%

Approval Rates

Total approvals of all applications
96.36%

Grande Homes 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
94.59%

Grande Homes has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 501 $217,365,000 $433,862

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
501 $217,365,000 $433,862

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 33 $8,735,000 $264,697 $3,768 2.68%
40-60% 94 $33,730,000 $358,830 $4,372 2.85%
60-80% 187 $85,435,000 $456,872 $5,151 3.00%
80-100% 172 $82,760,000 $481,163 $7,062 2.67%
Over 100% 10 $6,160,000 $616,000 $17,344 2.76%
Under 20% 5 $545,000 $109,000 $2,399 1.98%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GUARANTY HOME MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%