Lpmc Mortgage Rates, Fees & Info

SALEM, OR

LEI: 5493006KXUHSYFT7SD10

Tax ID: 27-4626537

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Lpmc is a smaller mortgage company specializing in Home Purchase and Cash Out 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 by origination volume include: Salem, Portland, Bend, Kennewick, and Albany among others. We have data for 29 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% 11/21/24
    30 Year Conventional Refi 6.65% 11/21/24
    30 Year Cash-out Refi 6.81% 11/21/24
    30 Year FHA Purchase 7.49% 11/21/24
    30 Year VA Purchase 6.47% 11/21/24
    30 Year USDA Purchase 6.90% 11/21/24
    15 Year Conventional Purchase 6.28% 11/21/24
    15 Year Conventional Refi 6.24% 11/21/24
    15 Year Cash-out Refi 6.24% 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.

    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

    1,067

    Origination Dollar Volume (All Markets)

    $295,325,000
    Show all (6) awards

    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) 487 $136,525,000 $280,339 $5,416 4.18%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 168 $50,940,000 $303,214 $5,396 3.97%
    BEND, OR (FHA|USDA|VA) 90 $27,660,000 $307,333 $5,642 4.14%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 78 $17,300,000 $221,795 $5,097 3.77%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 61 $15,025,000 $246,311 $5,587 4.07%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 53 $14,875,000 $280,660 $5,457 4.07%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 44 $8,070,000 $183,409 $6,137 4.07%
    Prineville, OR (FHA|USDA|VA) 11 $3,785,000 $344,091 $5,177 4.19%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 9 $3,625,000 $402,778 $7,141 4.19%
    CORVALLIS, OR (FHA|USDA|VA) 10 $2,990,000 $299,000 $4,175 4.31%
    Outside of Metro Areas 9 $2,395,000 $266,111 $4,578 4.36%
    Newport, OR (FHA|USDA|VA) 7 $2,085,000 $297,857 $4,290 4.05%
    ST. GEORGE, UT (FHA|USDA|VA) 5 $1,685,000 $337,000 $5,945 4.63%
    LONGVIEW, WA (FHA|USDA|VA) 6 $1,240,000 $206,667 $5,361 4.00%
    SALT LAKE CITY, UT (FHA|USDA|VA) 2 $990,000 $495,000 $5,075 4.19%
    WALLA WALLA, WA (FHA|USDA|VA) 4 $820,000 $205,000 $3,324 4.06%
    Klamath Falls, OR (FHA|USDA|VA) 4 $800,000 $200,000 $6,952 4.13%
    Astoria, OR (FHA|USDA|VA) 2 $680,000 $340,000 $7,231 4.06%
    Centralia, WA (FHA|USDA|VA) 2 $570,000 $285,000 $4,950 4.69%
    MEDFORD, OR (FHA|USDA|VA) 2 $550,000 $275,000 $7,138 4.25%
    Coos Bay, OR (FHA|USDA|VA) 1 $485,000 $485,000 $5,467 4.63%
    Roseburg, OR (FHA|USDA|VA) 2 $430,000 $215,000 $4,816 4.13%
    YAKIMA, WA (FHA|USDA|VA) 3 $345,000 $115,000 $3,608 3.33%
    Brookings, OR (FHA|USDA|VA) 1 $285,000 $285,000 $4,014 4.88%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $280,000 $140,000 $2,981 4.31%
    Moses Lake, WA (FHA|USDA|VA) 1 $275,000 $275,000 $5,339 4.13%
    Pullman, WA (FHA|USDA|VA) 1 $235,000 $235,000 $4,811 3.75%
    Ontario, OR-ID (FHA|USDA|VA) 1 $225,000 $225,000 $4,209 4.00%
    Cedar City, UT (FHA|USDA|VA) 1 $155,000 $155,000 $6,547 4.50%
    Lpmc's top markets include Salem, Portland, Bend, Kennewick, and Albany among others.

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

    • Similar Lenders

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

    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 175
    SELCO COMMUNITY
    Similarity Rank: 340
    Citizens Bank
    Similarity Rank: 390
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 420
    Yakima Federal Savings and Loan Association
    Similarity Rank: 534
    INROADS
    Similarity Rank: 549
    Ukrainian Federal Credit Union
    Similarity Rank: 657
    iQ Credit Union
    Similarity Rank: 851
    Clackamas Federal Credit Union
    Similarity Rank: 918
    OREGONIANS CREDIT UNION
    Similarity Rank: 948

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 716 $197,890,000 $276,383 $4,361 4.19%
    FHA 217 $55,385,000 $255,230 $8,317 3.97%
    VA 110 $36,460,000 $331,455 $6,556 3.80%
    USDA 24 $5,590,000 $232,917 $6,062 3.78%

    For 2019, Lpmc's most frequently originated type of loan was Conventional, with 716 originations. Their 2nd most popular type was FHA, with 217 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 650 $180,150,000 $277,154 $5,590 4.11%
    Cash Out Refi 234 $61,240,000 $261,709 $5,876 4.25%
    Refi 181 $53,915,000 $297,873 $4,340 3.90%
    Other 2 $20,000 $10,000 $40 0.50%

    For 2019, Lpmc's most frequently cited loan purpose was Home Purchase, with 650 originations. The 2nd most popular reason was Cash Out Refi, with 234 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,017 $285,145,000 $280,379 $5,489 4.10%
    15 Year 33 $6,205,000 $188,030 $4,171 4.05%
    20 Year 14 $3,510,000 $250,714 $4,384 4.10%
    Other 2 $390,000 $195,000 $3,743 2.06%
    10 Year 1 $75,000 $75,000 $4,337 3.50%

    For 2019, Lpmc's most frequently cited loan duration was 30 Year, with 1,017 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 614 $167,560,000 $272,899
    $2k-3k 200 $55,810,000 $279,050
    $3k-4k 93 $26,775,000 $287,903
    $<1k 62 $13,560,000 $218,710
    $4k-5k 48 $14,930,000 $311,042
    $5k+ 47 $16,035,000 $341,170

    Lpmc's average total fees were $5,489, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 614 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 512 $147,050,000 $287,207
    4-5% 476 $131,450,000 $276,155
    5-6% 55 $14,595,000 $265,364
    <2.5% 16 $190,000 $11,875
    6-7% 7 $1,825,000 $260,714
    2.5-3% 1 $215,000 $215,000

    During 2019, Lpmc's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 512 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 722 $205,500,000 $284,626 $5,688 4.09%
    $100k-200k 189 $30,765,000 $162,778 $4,677 4.30%
    $400k-600k 116 $52,920,000 $456,207 $5,800 4.27%
    $100,000 or less 34 $1,640,000 $48,235 $2,036 2.51%
    $600k-1MM 6 $4,500,000 $750,000 $10,290 4.02%

    2019 saw Lpmc place emphasis on $200k-400k loans with 722 originations, totaling $205,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 297 $73,345,000 $246,953 $5,539 4.02%
    $75k-100k 246 $68,190,000 $277,195 $5,600 4.08%
    $100k-150k 217 $69,455,000 $320,069 $5,663 4.14%
    $50k or less 178 $35,850,000 $201,404 $4,863 4.06%
    $150k-250k 94 $34,540,000 $367,447 $5,459 4.22%
    $250k+ 34 $13,700,000 $402,941 $4,625 4.52%

    Lpmc lent most frequently to those with incomes in the $50k-75k range, with 297 originations. The second most popular income band? $75k-100k, with 246 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 175 $47,395,000 $270,829 $4,922 4.10%
    30-36% 172 $48,300,000 $280,814 $5,033 4.13%
    50-60% 84 $22,580,000 $268,810 $8,052 3.97%
    43% 67 $17,865,000 $266,642 $5,384 4.04%
    <20% 58 $15,550,000 $268,103 $4,590 4.03%
    41% 54 $14,640,000 $271,111 $5,403 4.09%
    40% 50 $14,480,000 $289,600 $5,294 4.26%
    42% 47 $13,145,000 $279,681 $4,916 4.20%
    44% 43 $11,795,000 $274,302 $4,542 4.22%
    46% 39 $10,395,000 $266,538 $6,303 4.11%
    45% 38 $10,800,000 $284,211 $5,756 4.08%
    49% 37 $10,375,000 $280,405 $5,051 4.12%
    48% 36 $10,010,000 $278,056 $6,032 3.94%
    37% 34 $9,090,000 $267,353 $5,397 4.15%
    38% 34 $10,140,000 $298,235 $5,385 4.17%
    47% 31 $8,275,000 $266,935 $5,536 4.34%
    39% 26 $7,690,000 $295,769 $5,575 4.26%
    >60% 22 $7,170,000 $325,909 $4,975 3.59%
    36% 18 $5,220,000 $290,000 $6,254 3.82%

    Lpmc lent most frequently to those with DTI ratios of 20-30%, with 175 originations. The next most common DTI ratio? 30-36%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 985 $270,415,000 $274,533 $5,426 4.10%
    Not provided 45 $13,145,000 $292,111 $4,994 4.04%
    Asian 16 $5,300,000 $331,250 $6,311 4.13%
    Black 11 $3,535,000 $321,364 $5,247 4.10%
    American Indian 8 $2,440,000 $305,000 $6,373 4.00%
    Native Hawaiian or Islander 1 $305,000 $305,000 $8,422 4.25%
    Other Pacific Islander 1 $185,000 $185,000 $5,291 3.88%

    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
    80.69%

    Lpmc has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,067 $295,325,000 $276,781

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 34 $6,850,000 $201,471
    Single Family (1-4 Units):Site-Built 1,033 $288,475,000 $279,259

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $3,300,000 $126,923 $3,740 4.21%
    40-60% 97 $21,985,000 $226,649 $4,143 4.07%
    60-80% 343 $97,095,000 $283,076 $4,992 4.20%
    80-100% 556 $164,220,000 $295,360 $6,047 4.14%
    Over 100% 24 $7,870,000 $327,917 $8,599 3.79%
    Under 20% 20 $610,000 $30,500 $413 1.36%