Lpmc Mortgage Rates, Fees & Info

SALEM, OR

LEI: 5493006KXUHSYFT7SD10

Tax ID: 27-4626537

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Lpmc is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi 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 include Salem, Portland, Bend, Albany, and Kennewick among others. Lpmc has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Lpmc is typically an average fee lendor.


Originations

1,628

Origination Dollar Volume (All Markets)

$487,700,000
Show all (9) awards

Relative Rate

Lpmc 's average 30 year fixed rate mortgage of loans were 3.05%.

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

This yields a difference of -0.1%.

Relative Fees

Lpmc 's average total fees for a 30 year fixed rate mortgage are $5,050.

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
SALEM, OR (FHA|USDA|VA) 740 $216,040,000 $291,946 $5,069 3.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 241 $77,925,000 $323,340 $4,394 3.08%
BEND, OR (FHA|USDA|VA) 136 $49,730,000 $365,662 $5,078 3.10%
ALBANY-LEBANON, OR (FHA|USDA|VA) 97 $28,365,000 $292,423 $4,997 2.92%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 110 $27,920,000 $253,818 $4,773 2.98%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 55 $15,875,000 $288,636 $4,102 3.03%
Newport, OR (FHA|USDA|VA) 43 $13,235,000 $307,791 $5,196 3.17%
Hermiston-Pendleton, OR (FHA|USDA|VA) 50 $11,470,000 $229,400 $6,916 2.99%
CORVALLIS, OR (FHA|USDA|VA) 32 $11,240,000 $351,250 $4,914 3.08%
LONGVIEW, WA (FHA|USDA|VA) 17 $5,925,000 $348,529 $6,068 3.10%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 14 $5,400,000 $385,714 $4,562 3.23%
Outside of Metro Areas 23 $5,305,000 $230,652 $4,312 3.08%
Prineville, OR (FHA|USDA|VA) 11 $3,285,000 $298,636 $5,452 2.98%
YAKIMA, WA (FHA|USDA|VA) 8 $2,220,000 $277,500 $4,142 3.36%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 5 $1,665,000 $333,000 $4,470 2.58%
Roseburg, OR (FHA|USDA|VA) 7 $1,615,000 $230,714 $5,908 3.21%
MEDFORD, OR (FHA|USDA|VA) 6 $1,500,000 $250,000 $3,585 2.96%
Klamath Falls, OR (FHA|USDA|VA) 4 $1,250,000 $312,500 $4,933 3.34%
WALLA WALLA, WA (FHA|USDA|VA) 4 $1,080,000 $270,000 $4,297 3.28%
Centralia, WA (FHA|USDA|VA) 3 $995,000 $331,667 $3,721 3.17%
GRANTS PASS, OR (FHA|USDA|VA) 3 $925,000 $308,333 $5,644 3.00%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 3 $875,000 $291,667 $3,915 2.96%
Coos Bay, OR (FHA|USDA|VA) 3 $575,000 $191,667 $6,800 3.13%
Pullman, WA (FHA|USDA|VA) 2 $570,000 $285,000 $6,206 3.44%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $470,000 $235,000 $5,118 2.94%
Aberdeen, WA (FHA|USDA|VA) 2 $450,000 $225,000 $3,421 3.19%
Astoria, OR (FHA|USDA|VA) 1 $355,000 $355,000 $6,570 3.00%
The Dalles, OR (FHA|USDA|VA) 1 $275,000 $275,000 $9,487 2.50%
WENATCHEE, WA (FHA|USDA|VA) 1 $275,000 $275,000 $3,455 2.75%
Brookings, OR (FHA|USDA|VA) 1 $265,000 $265,000 $3,592 3.13%
Shelton, WA (FHA|USDA|VA) 1 $235,000 $235,000 $2,940 2.75%
Ellensburg, WA (FHA|USDA|VA) 1 $195,000 $195,000 $2,606 3.25%
Othello, WA (FHA|USDA|VA) 1 $195,000 $195,000 $2,334 2.63%

Lpmc 's top markets include Salem, Portland, Bend, Albany, and Kennewick among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,340 $395,430,000 $295,097 $4,185 3.07%
FHA 153 $45,935,000 $300,229 $9,585 2.88%
VA 114 $39,980,000 $350,702 $7,433 2.70%
USDA 21 $6,355,000 $302,619 $6,720 2.85%

For the 2021 period, Lpmc 's most frequently originated loan type of loans were Conventional, with 1,340 originations. Their 2nd most popular type is FHA, with 153 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 656 $224,750,000 $342,607 $5,555 3.06%
Cash Out Refi 495 $136,525,000 $275,808 $5,077 3.12%
Refi 477 $126,425,000 $265,042 $3,998 2.88%

For the 2021, Lpmc 's most frequently cited loan purpose of loans were Home Purchase, with 656 originations. The 2nd most popular reason of loans were Cash Out Refi, with 495 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,493 $458,495,000 $307,096 $5,050 3.05%
15 Year 94 $19,640,000 $208,936 $3,685 2.64%
20 Year 26 $6,350,000 $244,231 $4,486 2.98%
Other 9 $2,445,000 $271,667 $4,277 2.89%
10 Year 6 $770,000 $128,333 $3,656 2.75%

For the 2021, Lpmc 's most frequently cited loan length of loans were 30 Year, with 1,493 originations. The 2nd most popular length of loans were 15 Year, with 94 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,062 $309,520,000 $291,450
$2k-3k 281 $84,675,000 $301,335
$3k-4k 178 $57,770,000 $324,551
$5k+ 65 $24,405,000 $375,462
$<1k 41 $10,955,000 $267,195

$5,050 of loans were Lpmc 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,062 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 735 $211,835,000 $288,211
3-4% 712 $228,150,000 $320,435
<2.5% 156 $40,450,000 $259,295
4-5% 25 $7,265,000 $290,600

During 2021, Lpmc 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 735 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,007 $296,035,000 $293,977 $5,180 3.04%
$100k-200k 298 $46,450,000 $155,872 $3,684 2.95%
$400k-600k 276 $131,390,000 $476,051 $5,464 3.11%
$100,000 or less 30 $2,010,000 $67,000 $2,484 2.35%
$600k-1MM 16 $10,760,000 $672,500 $9,713 3.33%
$1MM+ 1 $1,055,000 $1,055,000 $12,764 2.75%

2021 saw Lpmc place emphasis on $200k-400k loans with 1,007 originations, totaling $296,035,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 401 $105,765,000 $263,753 $4,885 3.03%
$100k-150k 376 $129,480,000 $344,362 $5,019 3.06%
$75k-100k 360 $109,950,000 $305,417 $4,998 3.05%
$50k or less 255 $53,855,000 $211,196 $4,451 2.90%
$150k-250k 193 $71,755,000 $371,788 $5,470 3.05%
$250k+ 43 $16,895,000 $392,907 $5,303 3.09%

Lpmc lent most frequently to those with incomes in the $50k-75k range, with 401 originations. The second most popular income band? $100k-150k, with 376 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 326 $91,050,000 $279,294 $4,325 3.00%
30-36% 291 $89,275,000 $306,787 $4,760 3.03%
<20% 101 $25,795,000 $255,396 $4,195 2.86%
44% 81 $24,945,000 $307,963 $5,063 3.16%
43% 72 $23,640,000 $328,333 $5,718 3.14%
39% 68 $23,330,000 $343,088 $4,887 3.16%
42% 65 $19,185,000 $295,154 $4,545 3.16%
50-60% 63 $19,025,000 $301,984 $8,986 2.82%
41% 60 $19,180,000 $319,667 $4,586 3.15%
37% 58 $16,510,000 $284,655 $4,973 3.10%
38% 56 $17,780,000 $317,500 $5,169 2.99%
45% 55 $16,705,000 $303,727 $4,905 3.01%
40% 55 $17,565,000 $319,364 $5,234 3.09%
49% 53 $16,475,000 $310,849 $5,164 3.11%
47% 48 $14,950,000 $311,458 $6,330 3.07%
36% 48 $15,350,000 $319,792 $4,340 3.13%
48% 45 $12,105,000 $269,000 $4,801 3.18%
46% 40 $12,060,000 $301,500 $5,241 2.92%
>60% 3 $835,000 $278,333 $7,294 2.67%

Lpmc lent most frequently to those with DTI ratios of 20-30%, with 326 originations. The next most common DTI ratio? 30-36%, with 291 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,443 $427,995,000 $296,601 $4,939 3.02%
Not provided 120 $39,770,000 $331,417 $5,168 3.07%
Black 22 $7,490,000 $340,455 $4,789 3.10%
Asian 26 $7,190,000 $276,538 $4,852 3.01%
American Indian 14 $4,220,000 $301,429 $5,257 2.90%
Other Asian 2 $730,000 $365,000 $3,896 3.50%
Native Hawaiian 1 $305,000 $305,000 $4,152 2.50%

Approval Rates

Total approvals of all applications
98.37%

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
82.87%

Lpmc has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,628 $487,700,000 $299,570

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,628 $487,700,000 $299,570

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 119 $19,615,000 $164,832 $3,616 2.87%
40-60% 330 $82,740,000 $250,727 $3,903 2.94%
60-80% 632 $198,980,000 $314,842 $4,665 3.14%
80-100% 516 $179,300,000 $347,481 $6,156 3.01%
Over 100% 14 $5,890,000 $420,714 $13,714 2.97%
Under 20% 17 $1,175,000 $69,118 $1,675 1.96%