Lpmc Mortgage Rates, Fees & Info

SALEM, OR

LEI: 5493006KXUHSYFT7SD10

Tax ID: 27-4626537

4.2 stars - Updated: 9/25/23 - out of 5 stars, based on 23 reviews

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

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Mortgage Data

Review & Overview

Lpmc is a smaller mortgage company specializing in Home Purchase loans. Lpmc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Salem, Portland, Bend, Albany, and Newport among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

Lpmc 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. Lpmc 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.

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 6.70% 9/25/23
30 Year Conventional Refi 6.65% 9/25/23
30 Year Cash-out Refi 6.81% 9/25/23
30 Year FHA Purchase 7.49% 9/25/23
30 Year VA Purchase 6.47% 9/25/23
30 Year USDA Purchase 6.90% 9/25/23
15 Year Conventional Purchase 6.28% 9/25/23
15 Year Conventional Refi 6.24% 9/25/23
15 Year Cash-out Refi 6.24% 9/25/23
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.

Lpmc Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Lpmc. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

507

Origination Dollar Volume (All Markets)

$171,795,000
Show all (9) awards

Relative Rate

Lpmc's average 30 year fixed mortgage rate was 4.79%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.03%.

Relative Fees (Closing Costs)

Lpmc's average total fees/closing costs for a 30 year fixed rate mortgage were $7,177.

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
SALEM, OR (FHA|USDA|VA) 197 $65,715,000 $333,579 $7,312 4.60%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 71 $26,215,000 $369,225 $6,331 4.84%
BEND, OR (FHA|USDA|VA) 43 $19,765,000 $459,651 $8,040 4.63%
ALBANY-LEBANON, OR (FHA|USDA|VA) 32 $9,930,000 $310,313 $7,068 4.94%
Newport, OR (FHA|USDA|VA) 26 $8,850,000 $340,385 $6,438 5.01%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 27 $8,705,000 $322,407 $7,537 5.04%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 26 $8,520,000 $327,692 $7,510 5.10%
Hermiston-Pendleton, OR (FHA|USDA|VA) 30 $7,910,000 $263,667 $8,913 4.76%
Outside of Metro Areas 13 $4,105,000 $315,769 $7,493 5.06%
CORVALLIS, OR (FHA|USDA|VA) 4 $1,510,000 $377,500 $4,694 5.06%
LONGVIEW, WA (FHA|USDA|VA) 5 $1,315,000 $263,000 $3,537 4.00%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $1,260,000 $315,000 $4,593 5.06%
YAKIMA, WA (FHA|USDA|VA) 7 $1,165,000 $166,429 $4,001 3.89%
Centralia, WA (FHA|USDA|VA) 3 $1,085,000 $361,667 $8,506 3.96%
Coos Bay, OR (FHA|USDA|VA) 4 $1,000,000 $250,000 $5,119 5.00%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $830,000 $415,000 $7,334 5.81%
Prineville, OR (FHA|USDA|VA) 2 $630,000 $315,000 $6,573 5.75%
Klamath Falls, OR (FHA|USDA|VA) 2 $610,000 $305,000 $5,701 4.87%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $455,000 $455,000 $8,081 4.75%
Roseburg, OR (FHA|USDA|VA) 2 $430,000 $215,000 $8,425 3.25%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $405,000 $405,000 $8,488 4.88%
La Grande, OR (FHA|USDA|VA) 1 $335,000 $335,000 $4,896 4.75%
GRANTS PASS, OR (FHA|USDA|VA) 1 $315,000 $315,000 $5,998 5.63%
Ontario, OR-ID (FHA|USDA|VA) 1 $285,000 $285,000 $5,547 3.50%
Othello, WA (FHA|USDA|VA) 1 $245,000 $245,000 $11,261 5.63%
WALLA WALLA, WA (FHA|USDA|VA) 1 $205,000 $205,000 $7,537 5.37%
Lpmc's top markets include Salem, Portland, Bend, Albany, and Newport among others.

Their top states include:
  • Oregon (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 418 $142,540,000 $341,005 $6,220 4.81%
    FHA 64 $20,190,000 $315,469 $11,642 4.59%
    VA 22 $8,180,000 $371,818 $11,551 4.03%
    USDA 3 $885,000 $295,000 $9,679 4.67%

    For 2022, Lpmc's most frequently originated type of loan was Conventional, with 418 originations. Their 2nd most popular type was FHA, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 383 $136,855,000 $357,324 $7,222 4.91%
    Cash Out Refi 99 $28,245,000 $285,303 $7,374 4.35%
    Refi 25 $6,695,000 $267,800 $5,334 3.91%

    For 2022, Lpmc's most frequently cited loan purpose was Home Purchase, with 383 originations. The 2nd most popular reason was Cash Out Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 486 $165,760,000 $341,070 $7,177 4.79%
    15 Year 12 $3,870,000 $322,500 $8,036 3.66%
    20 Year 9 $2,165,000 $240,556 $4,986 4.03%

    For 2022, Lpmc's most frequently cited loan duration was 30 Year, with 486 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 143 $54,625,000 $381,993
    $1k-2k 127 $41,165,000 $324,134
    $2k-3k 90 $27,640,000 $307,111
    $3k-4k 69 $22,205,000 $321,812
    $4k-5k 57 $19,975,000 $350,439
    $<1k 20 $6,130,000 $306,500

    Lpmc's average total fees were $7,177, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 158 $56,510,000 $357,658
    3-4% 148 $48,530,000 $327,905
    4-5% 115 $38,965,000 $338,826
    6-7% 50 $16,880,000 $337,600
    2.5-3% 16 $5,580,000 $348,750
    7-8% 14 $4,910,000 $350,714
    <2.5% 6 $420,000 $70,000

    During 2022, Lpmc's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 5-6%, with 158 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 300 $90,680,000 $302,267 $7,598 4.76%
    $400k-600k 107 $50,735,000 $474,159 $7,569 4.89%
    $100k-200k 57 $8,975,000 $157,456 $4,490 4.67%
    $600k-1MM 31 $20,855,000 $672,742 $8,282 4.89%
    $100,000 or less 12 $550,000 $45,833 $2,375 3.09%

    2022 saw Lpmc place emphasis on $200k-400k loans with 300 originations, totaling $90,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 136 $50,020,000 $367,794 $7,097 4.81%
    $50k-75k 132 $37,470,000 $283,864 $7,166 4.60%
    $75k-100k 107 $34,085,000 $318,551 $7,648 4.74%
    $150k-250k 73 $34,585,000 $473,767 $7,229 4.98%
    $50k or less 46 $8,860,000 $192,609 $5,224 4.50%
    $250k+ 13 $6,775,000 $521,154 $10,144 5.19%

    Lpmc lent most frequently to those with incomes in the $100k-150k range, with 136 originations. The second most popular income band? $50k-75k, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 78 $28,020,000 $359,231 $6,968 4.60%
    20-30% 74 $21,740,000 $293,784 $5,664 4.55%
    50-60% 30 $9,850,000 $328,333 $10,799 4.68%
    40% 29 $9,225,000 $318,103 $7,118 4.83%
    44% 28 $9,910,000 $353,929 $6,855 4.60%
    43% 28 $10,560,000 $377,143 $8,306 5.44%
    41% 27 $9,685,000 $358,704 $6,146 4.90%
    49% 26 $9,800,000 $376,923 $7,452 4.97%
    46% 24 $7,580,000 $315,833 $8,762 4.89%
    45% 23 $7,755,000 $337,174 $5,572 4.31%
    48% 22 $7,940,000 $360,909 $7,895 5.05%
    36% 22 $7,900,000 $359,091 $8,053 4.37%
    47% 21 $6,935,000 $330,238 $6,441 5.22%
    39% 19 $7,045,000 $370,789 $7,442 4.62%
    <20% 17 $4,115,000 $242,059 $5,646 4.76%
    42% 15 $5,285,000 $352,333 $7,306 4.87%
    38% 14 $4,910,000 $350,714 $7,144 4.69%
    37% 10 $3,540,000 $354,000 $8,084 4.92%

    Lpmc lent most frequently to those with DTI ratios of 30-36%, with 78 originations. The next most common DTI ratio? 20-30%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 452 $151,500,000 $335,177 $7,208 4.74%
    Not provided 35 $12,295,000 $351,286 $6,080 4.84%
    Asian 10 $3,760,000 $376,000 $6,611 4.52%
    American Indian 5 $2,365,000 $473,000 $7,696 5.32%
    Black 5 $1,875,000 $375,000 $10,574 4.75%

    Approval Rates

    Total approvals of all applications
    98.47%

    Lpmc 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
    74.36%

    Lpmc has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 507 $171,795,000 $338,846

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    507 $171,795,000 $338,846

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $4,890,000 $174,643 $4,916 4.46%
    40-60% 79 $19,975,000 $252,848 $5,172 4.54%
    60-80% 154 $56,940,000 $369,740 $7,692 4.73%
    80-100% 231 $87,885,000 $380,455 $7,840 4.96%
    Over 100% 4 $1,530,000 $382,500 $16,190 3.97%
    Under 20% 11 $575,000 $52,273 $2,119 3.20%