Lending 3 Mortgage Rates, Fees & Info

FOUNTAIN VALLEY, CA

LEI: 5493005I7R041I8VOW18

Tax ID: 73-1676597

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

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Lending 3 is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Lending 3 has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, Atlanta, Dallas, and Chicago among others. We have data for 88 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Lending 3 has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Lending 3 is typically a high 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.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.59% 11/26/22
    30 Year Conventional Refi 6.64% 11/26/22
    30 Year Cash-out Refi 7.06% 11/26/22
    30 Year FHA Purchase 8.18% 11/26/22
    30 Year FHA Refi 7.67% 11/26/22
    30 Year VA Purchase 6.87% 11/26/22
    30 Year VA Refi 5.88% 11/26/22
    30 Year USDA Purchase 6.61% 11/26/22
    15 Year Conventional Purchase 5.90% 11/26/22
    15 Year Conventional Refi 6.36% 11/26/22
    15 Year Cash-out Refi 6.36% 11/26/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    477

    Origination Dollar Volume (All Markets)

    $163,975,000

    Relative Rate

    Lending 3's average 30 year fixed mortgage rate was 3.27%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.12%.

    Relative Fees (Closing Costs)

    Lending 3's average total fees/closing costs for a 30 year fixed rate mortgage were $9,710.

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 113 $55,465,000 $490,841 $13,592 3.44%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 89 $34,635,000 $389,157 $10,601 3.52%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 31 $8,095,000 $261,129 $8,556 3.18%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $4,325,000 $205,952 $5,767 2.96%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 17 $3,965,000 $233,235 $9,942 3.13%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 10 $3,260,000 $326,000 $10,117 2.93%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 11 $3,085,000 $280,455 $11,203 3.25%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 10 $2,920,000 $292,000 $7,079 2.63%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 9 $2,715,000 $301,667 $6,173 3.03%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $2,430,000 $303,750 $11,257 2.73%
    Outside of Metro Areas 9 $2,335,000 $259,444 $8,725 3.21%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,235,000 $248,333 $8,479 3.15%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $2,150,000 $268,750 $7,538 3.09%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $2,020,000 $336,667 $4,967 3.19%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 6 $1,970,000 $328,333 $8,118 3.48%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $1,930,000 $321,667 $7,243 3.06%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,620,000 $405,000 $11,825 3.16%
    JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,530,000 $255,000 $4,660 2.87%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,490,000 $372,500 $4,572 2.97%
    MODESTO, CA (FHA|USDA|VA) 4 $1,470,000 $367,500 $11,221 3.63%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,170,000 $585,000 $12,419 3.63%
    MERCED, CA (FHA|USDA|VA) 3 $1,155,000 $385,000 $4,430 3.54%
    FRESNO, CA (FHA|USDA|VA) 3 $1,145,000 $381,667 $9,845 3.54%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 3 $995,000 $331,667 $12,932 3.21%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $915,000 $183,000 $4,240 3.25%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 4 $880,000 $220,000 $3,675 4.00%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 3 $785,000 $261,667 $7,132 2.58%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $600,000 $300,000 $4,784 3.31%
    OCALA, FL (FHA|USDA|VA) 3 $565,000 $188,333 $6,498 3.42%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $545,000 $545,000 $2,556 2.88%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $510,000 $255,000 $4,836 2.31%
    SALEM, OR (FHA|USDA|VA) 2 $500,000 $250,000 $10,842 3.00%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $485,000 $485,000 $17,722 3.38%
    Durango, CO (FHA|USDA|VA) 1 $455,000 $455,000 $8,129 2.75%
    VALLEJO, CA (FHA|USDA|VA) 1 $455,000 $455,000 $0 3.50%
    GREELEY, CO (FHA|USDA|VA) 1 $445,000 $445,000 $0 5.00%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $430,000 $215,000 $11,683 3.25%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $425,000 $425,000 $11,667 2.63%
    Lufkin, TX (FHA|USDA|VA) 1 $425,000 $425,000 $6,903 2.50%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $415,000 $415,000 $11,467 3.75%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $395,000 $395,000 $9,656 1.99%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $390,000 $195,000 $4,875 3.00%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $390,000 $195,000 $6,150 2.50%
    TUCSON, AZ (FHA|USDA|VA) 2 $370,000 $185,000 $4,079 3.25%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $365,000 $365,000 $0 2.88%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.50%
    STOCKTON, CA (FHA|USDA|VA) 1 $325,000 $325,000 $0 4.25%
    Klamath Falls, OR (FHA|USDA|VA) 2 $320,000 $160,000 $3,639 2.38%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $315,000 $315,000 $9,731 2.75%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $310,000 $155,000 $5,723 2.81%
    BEND, OR (FHA|USDA|VA) 1 $305,000 $305,000 $10,566 3.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,792 2.25%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $295,000 $295,000 $10,298 2.75%
    DOTHAN, AL (FHA|USDA|VA) 1 $295,000 $295,000 $13,124 2.88%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.25%
    MEDFORD, OR (FHA|USDA|VA) 1 $285,000 $285,000 $16,623 2.75%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $275,000 $275,000 $7,910 6.25%
    Mount Pleasant, TX (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.88%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $9,739 3.25%
    SAVANNAH, GA (FHA|USDA|VA) 2 $270,000 $135,000 $8,061 3.13%
    Coos Bay, OR (FHA|USDA|VA) 1 $255,000 $255,000 $9,539 3.88%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $235,000 $235,000 $5,917 2.75%
    Jefferson, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,020 2.75%
    ABILENE, TX (FHA|USDA|VA) 1 $225,000 $225,000 $5,858 3.50%
    Safford, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $7,082 3.75%
    TYLER, TX (FHA|USDA|VA) 1 $215,000 $215,000 $0 2.88%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.25%
    HINESVILLE, GA (FHA|USDA|VA) 1 $195,000 $195,000 $5,924 2.25%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $195,000 $195,000 $7,708 4.25%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $6,874 2.75%
    Tifton, GA (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.75%
    READING, PA (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.25%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $6,405 2.75%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.88%
    EL PASO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $2,660 2.88%
    Paris, TX (FHA|USDA|VA) 1 $155,000 $155,000 $4,086 2.25%
    Statesboro, GA (FHA|USDA|VA) 1 $155,000 $155,000 $4,634 2.50%
    VISALIA, CA (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.63%
    Milledgeville, GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,794 4.25%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,792 3.13%
    The Dalles, OR (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.00%
    LANCASTER, PA (FHA|USDA|VA) 1 $125,000 $125,000 $9,792 3.88%
    AMARILLO, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,938 2.25%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $4,614 2.99%
    VALDOSTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,747 3.25%
    Mount Vernon, IL (FHA|USDA|VA) 1 $105,000 $105,000 $3,208 2.25%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    ALBANY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.75%
    Lending 3's top markets include Los Angeles, Riverside, Atlanta, Dallas, and Chicago among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against LENDING 3 based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Emory Alliance Credit Union
    Similarity Rank: 305
    Christian Community Credit Union
    Similarity Rank: 354
    First Credit Union
    Similarity Rank: 378
    AAXY L.L.C.
    Similarity Rank: 540
    U S WIDE FINANCIAL LLC
    Similarity Rank: 924
    Chaffey Federal Credit Union
    Similarity Rank: 966
    ARIZONA CENTRAL
    Similarity Rank: 1166
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1200
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 1218

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 227 $88,535,000 $390,022 $10,266 3.46%
    VA 136 $35,760,000 $262,941 $7,459 2.87%
    FHA 114 $39,680,000 $348,070 $11,219 3.34%

    For 2021, Lending 3's most frequently originated type of loan was Conventional, with 227 originations. Their 2nd most popular type was VA, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 210 $66,540,000 $316,857 $9,700 3.28%
    Refi 157 $47,195,000 $300,605 $7,022 2.99%
    Home Purchase 109 $49,855,000 $457,385 $13,575 3.64%
    Other 1 $385,000 $385,000 $0 2.75%

    For 2021, Lending 3's most frequently cited loan purpose was Cash Out Refi, with 210 originations. The 2nd most popular reason was Refi, with 157 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 449 $156,385,000 $348,296 $9,710 3.27%
    15 Year 11 $3,415,000 $310,455 $7,750 2.79%
    20 Year 11 $2,425,000 $220,455 $9,180 3.38%
    Other 5 $1,465,000 $293,000 $8,741 3.30%
    10 Year 1 $285,000 $285,000 $2,599 2.25%

    For 2021, Lending 3's most frequently cited loan duration was 30 Year, with 449 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 142 $59,080,000 $416,056
    $2k-3k 55 $14,855,000 $270,091
    $4k-5k 43 $11,195,000 $260,349
    $3k-4k 36 $7,940,000 $220,556
    $<1k 27 $7,005,000 $259,444
    $1k-2k 15 $3,015,000 $201,000

    Lending 3's average total fees were $9,710, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 142 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 274 $94,390,000 $344,489
    2.5-3% 102 $37,110,000 $363,824
    <2.5% 68 $18,850,000 $277,206
    4-5% 28 $11,420,000 $407,857
    5-6% 4 $1,930,000 $482,500
    6-7% 1 $275,000 $275,000

    During 2021, Lending 3's average interest rate for loans was 3.27%, while their most frequently originated rate bucket for loans was 3-4%, with 274 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 199 $58,855,000 $295,754 $8,504 3.23%
    $400k-600k 130 $63,150,000 $485,769 $12,700 3.36%
    $100k-200k 106 $16,240,000 $153,208 $6,346 3.10%
    $600k-1MM 32 $21,910,000 $684,688 $18,632 3.53%
    $100,000 or less 7 $515,000 $73,571 $4,234 3.23%
    $1MM+ 3 $3,305,000 $1,101,667 $12,058 3.92%

    2021 saw Lending 3 place emphasis on $200k-400k loans with 199 originations, totaling $58,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 122 $27,480,000 $225,246 $6,011 2.99%
    $50k-75k 107 $32,285,000 $301,729 $9,997 3.35%
    $75k-100k 94 $36,890,000 $392,447 $11,842 3.31%
    $100k-150k 86 $36,330,000 $422,442 $12,091 3.41%
    $150k-250k 37 $17,735,000 $479,324 $10,213 3.40%
    $250k+ 14 $8,640,000 $617,143 $13,406 3.62%

    Lending 3 lent most frequently to those with incomes in the $50k or less range, with 122 originations. The second most popular income band? $50k-75k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 63 $24,895,000 $395,159 $12,162 3.36%
    20-30% 54 $16,730,000 $309,815 $9,344 3.37%
    30-36% 52 $15,790,000 $303,654 $9,382 3.26%
    44% 26 $9,070,000 $348,846 $9,874 3.26%
    49% 22 $8,330,000 $378,636 $12,942 3.15%
    >60% 16 $6,940,000 $433,750 $10,750 3.29%
    42% 16 $6,480,000 $405,000 $10,576 3.43%
    46% 15 $5,875,000 $391,667 $11,586 3.44%
    39% 14 $5,330,000 $380,714 $8,189 3.48%
    47% 14 $6,290,000 $449,286 $12,199 3.59%
    48% 14 $6,030,000 $430,714 $11,911 3.47%
    43% 12 $3,650,000 $304,167 $12,333 3.58%
    45% 12 $4,420,000 $368,333 $11,303 3.34%
    40% 12 $4,500,000 $375,000 $11,880 3.24%
    36% 11 $4,295,000 $390,455 $15,214 3.61%
    38% 11 $4,145,000 $376,818 $11,857 3.29%
    41% 11 $3,805,000 $345,909 $7,618 3.27%
    <20% 10 $3,790,000 $379,000 $4,494 3.69%
    37% 9 $3,145,000 $349,444 $10,867 3.18%

    Lending 3 lent most frequently to those with DTI ratios of 50-60%, with 63 originations. The next most common DTI ratio? 20-30%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 251 $83,775,000 $333,765 $9,134 3.21%
    Not provided 129 $49,705,000 $385,310 $11,973 3.41%
    Black 85 $24,925,000 $293,235 $7,845 3.18%
    Asian 9 $3,945,000 $438,333 $7,907 3.31%
    Filipino 1 $1,245,000 $1,245,000 $0 4.00%
    American Indian 2 $380,000 $190,000 $8,049 3.43%

    Approval Rates

    Total approvals of all applications
    99.27%

    Lending 3 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
    -20.13%

    Lending 3 has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    1790.0 1 $385,000 $385,000
    29041.25 1 $1,245,000 $1,245,000
    2922.6 1 $425,000 $425,000
    4167.8 1 $145,000 $145,000
    NA 473 $161,775,000 $342,019

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    477 $163,975,000 $343,763

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $3,895,000 $229,118 $7,558 2.98%
    40-60% 70 $19,640,000 $280,571 $7,371 3.04%
    60-80% 204 $73,070,000 $358,186 $9,522 3.23%
    80-100% 178 $66,250,000 $372,191 $10,663 3.41%
    Over 100% 2 $610,000 $305,000 $12,757 3.00%
    Under 20% 6 $510,000 $85,000 $6,414 3.60%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Lending Club Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Lending Club Corp Other type of mortgage Trouble during payment process 1 50.0%