Lending 3 Mortgage Rates, Fees & Info
FOUNTAIN VALLEY, CALEI: 5493005I7R041I8VOW18
Tax ID: 73-1676597
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Mortgage Data
Review & Overview
Lending 3 is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Lending 3 has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Los Angeles, Riverside, Atlanta, Baltimore, and San Diego among others. We have data for 73 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 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.56% | 12/3/24 |
| 30 Year Conventional Refi | 6.54% | 12/3/24 |
| 30 Year Cash-out Refi | 6.87% | 12/3/24 |
| 30 Year FHA Purchase | 7.38% | 12/3/24 |
| 30 Year FHA Refi | 6.86% | 12/3/24 |
| 30 Year VA Purchase | 6.27% | 12/3/24 |
| 30 Year VA Refi | 6.27% | 12/3/24 |
| 15 Year Conventional Purchase | 5.68% | 12/3/24 |
| 15 Year Conventional Refi | 5.68% | 12/3/24 |
| 15 Year Cash-out Refi | 5.68% | 12/3/24 |
| 15 Year VA Refi | 6.50% | 12/3/24 |
| 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. | ||
Lending 3 Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
798Origination Dollar Volume (All Markets)
$270,650,000Awards
LENDING 3 - 2020
LENDING 3 is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 275 | $115,305,000 | $419,291 | $9,879 | 2.99% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 212 | $70,650,000 | $333,255 | $10,292 | 3.02% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 30 | $7,510,000 | $250,333 | $6,988 | 2.95% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 23 | $6,115,000 | $265,870 | $7,586 | 2.74% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 14 | $6,030,000 | $430,714 | $5,450 | 2.70% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 18 | $4,930,000 | $273,889 | $5,674 | 2.82% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 16 | $4,930,000 | $308,125 | $9,899 | 2.77% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 17 | $3,965,000 | $233,235 | $6,231 | 2.96% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $3,565,000 | $237,667 | $7,527 | 2.73% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 8 | $3,140,000 | $392,500 | $6,512 | 2.94% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 9 | $2,835,000 | $315,000 | $11,338 | 3.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 13 | $2,675,000 | $205,769 | $6,083 | 3.08% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $2,395,000 | $479,000 | $15,105 | 3.70% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $2,320,000 | $386,667 | $12,618 | 3.02% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $2,190,000 | $273,750 | $7,406 | 2.89% |
| Outside of Metro Areas | 8 | $2,020,000 | $252,500 | $6,804 | 2.64% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 7 | $1,875,000 | $267,857 | $2,413 | 3.02% |
| FRESNO, CA (FHA|USDA|VA) | 6 | $1,700,000 | $283,333 | $5,721 | 3.06% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 5 | $1,505,000 | $301,000 | $4,896 | 2.55% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $1,420,000 | $710,000 | $6,322 | 2.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 7 | $1,245,000 | $177,857 | $5,739 | 2.68% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $5,866 | 2.82% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $5,308 | 2.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $5,543 | 2.53% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $4,060 | 2.81% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $8,709 | 3.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $6,497 | 2.72% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $4,254 | 3.00% |
| VALLEJO, CA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,470 | 2.56% |
| MEDFORD, OR (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 2.94% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $3,773 | 2.33% |
| Klamath Falls, OR (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $5,791 | 2.66% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $7,209 | 2.58% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $5,950 | 2.63% |
| SALEM, OR (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 2.87% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 2.88% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 3.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $5,183 | 2.92% |
| EL PASO, TX (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $3,182 | 2.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $4,891 | 2.79% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,124 | 2.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 3.25% |
| NAPA, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 2.75% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $7,227 | 2.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $7,654 | 2.81% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,004 | 2.25% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,154 | 2.25% |
| MERCED, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,286 | 2.25% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 3.25% |
| MADERA, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,090 | 2.75% |
| Astoria, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,447 | 2.38% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,161 | 2.25% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,007 | 2.25% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.13% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.25% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,792 | 3.13% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,853 | 2.38% |
| CHICO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,035 | 2.25% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,096 | 2.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 2.75% |
| BEND, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,085 | 2.75% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,357 | 2.25% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,751 | 2.50% |
| DALTON, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 2.50% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.50% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.13% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,108 | 2.75% |
| Sonora, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 2.99% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,391 | 2.88% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,686 | 2.25% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,736 | 2.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,213 | 2.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,003 | 3.50% |
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.
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Product Mix
For 2020, Lending 3's most frequently originated type of loan was Conventional, with 428 originations. Their 2nd most popular type was FHA, with 202 originations.
Loan Reason
For 2020, Lending 3's most frequently cited loan purpose was Refi, with 403 originations. The 2nd most popular reason was Cash Out Refi, with 218 originations.
Loan Duration/Length
For 2020, Lending 3's most frequently cited loan duration was 30 Year, with 745 originations. The 2nd most popular length was 15 Year, with 25 originations.
Origination Fees/Closing Costs
Lending 3's average total fees were $8,182, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 318 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 343 | $118,465,000 | $345,379 |
| 3-4% | 268 | $94,010,000 | $350,784 |
| <2.5% | 176 | $54,480,000 | $309,545 |
| 4-5% | 8 | $3,000,000 | $375,000 |
| 5-6% | 3 | $695,000 | $231,667 |
During 2020, Lending 3's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 343 originations.
Loan Sizing
2020 saw Lending 3 place emphasis on $200k-400k loans with 414 originations, totaling $123,720,000 in origination value.
Applicant Income
Lending 3 lent most frequently to those with incomes in the $50k or less range, with 219 originations. The second most popular income band? $50k-75k, with 205 originations.
Applicant Debt to Income Ratio
Lending 3 lent most frequently to those with DTI ratios of <20%, with 178 originations. The next most common DTI ratio? 50-60%, with 79 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.96%
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 origination48.12%
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 |
|---|---|---|---|
| 0.0 | 1 | $175,000 | $175,000 |
| 12115.0 | 1 | $395,000 | $395,000 |
| 17290.0 | 1 | $665,000 | $665,000 |
| 2255.8 | 1 | $325,000 | $325,000 |
| 2785.0 | 1 | $425,000 | $425,000 |
| 3674.8 | 1 | $125,000 | $125,000 |
| 4141.0 | 1 | $195,000 | $195,000 |
| 4348.88 | 1 | $155,000 | $155,000 |
| 4355.63 | 1 | $285,000 | $285,000 |
| 4570.0 | 1 | $295,000 | $295,000 |
| 4721.67 | 1 | $235,000 | $235,000 |
| 4784.18 | 1 | $175,000 | $175,000 |
| 4880.0 | 1 | $255,000 | $255,000 |
| 5200.6 | 1 | $335,000 | $335,000 |
| 6107.88 | 1 | $225,000 | $225,000 |
| 6140.0 | 1 | $385,000 | $385,000 |
| 6267.92 | 1 | $405,000 | $405,000 |
| 6610.0 | 1 | $445,000 | $445,000 |
| 6940.0 | 1 | $475,000 | $475,000 |
| 695.0 | 1 | $105,000 | $105,000 |
| 7104.8 | 1 | $255,000 | $255,000 |
| 7818.13 | 1 | $365,000 | $365,000 |
| 8194.14 | 1 | $285,000 | $285,000 |
| 9090.0 | 1 | $345,000 | $345,000 |
| 9366.98 | 1 | $495,000 | $495,000 |
| 9550.59 | 1 | $435,000 | $435,000 |
| 9738.37 | 1 | $345,000 | $345,000 |
| NA | 771 | $262,045,000 | $339,877 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 21 | $4,555,000 | $216,905 |
| Single Family (1-4 Units):Site-Built | 777 | $266,095,000 | $342,465 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Lending Club Corp | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |