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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.56% | 11/21/24 |
| 30 Year Conventional Refi | 6.54% | 11/21/24 |
| 30 Year Cash-out Refi | 6.87% | 11/21/24 |
| 30 Year FHA Purchase | 7.38% | 11/21/24 |
| 30 Year FHA Refi | 6.86% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 30 Year VA Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 15 Year VA Refi | 6.50% | 11/21/24 |
| 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
477Origination Dollar Volume (All Markets)
$163,975,000Top 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% |
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Product Mix
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
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
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
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
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
2021 saw Lending 3 place emphasis on $200k-400k loans with 199 originations, totaling $58,855,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.27%
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 |
LTV Distribution
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% |