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 Refi, 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 Eugene among others. We have data for 28 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% 11/17/24
    30 Year Conventional Refi 6.65% 11/17/24
    30 Year Cash-out Refi 6.81% 11/17/24
    30 Year FHA Purchase 7.49% 11/17/24
    30 Year VA Purchase 6.47% 11/17/24
    30 Year USDA Purchase 6.90% 11/17/24
    15 Year Conventional Purchase 6.28% 11/17/24
    15 Year Conventional Refi 6.24% 11/17/24
    15 Year Cash-out Refi 6.24% 11/17/24
    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

    2,135

    Origination Dollar Volume (All Markets)

    $605,985,000
    Show all (20) 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) 1,016 $284,660,000 $280,177 $4,802 3.08%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 338 $107,180,000 $317,101 $4,354 3.10%
    BEND, OR (FHA|USDA|VA) 209 $67,045,000 $320,789 $5,140 3.13%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 149 $35,925,000 $241,107 $4,704 2.85%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 103 $29,595,000 $287,330 $4,963 3.11%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 90 $22,720,000 $252,444 $4,929 3.06%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 60 $13,280,000 $221,333 $6,420 2.97%
    Newport, OR (FHA|USDA|VA) 35 $9,355,000 $267,286 $4,370 2.91%
    CORVALLIS, OR (FHA|USDA|VA) 21 $6,215,000 $295,952 $5,627 3.11%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 19 $5,555,000 $292,368 $4,034 3.03%
    Outside of Metro Areas 21 $5,415,000 $257,857 $4,510 3.02%
    Prineville, OR (FHA|USDA|VA) 17 $5,125,000 $301,471 $5,494 3.13%
    LONGVIEW, WA (FHA|USDA|VA) 14 $3,130,000 $223,571 $3,746 3.11%
    MEDFORD, OR (FHA|USDA|VA) 7 $1,805,000 $257,857 $3,837 3.39%
    Centralia, WA (FHA|USDA|VA) 5 $1,255,000 $251,000 $3,416 2.78%
    YAKIMA, WA (FHA|USDA|VA) 5 $1,085,000 $217,000 $2,818 3.13%
    WALLA WALLA, WA (FHA|USDA|VA) 3 $865,000 $288,333 $5,255 3.17%
    Roseburg, OR (FHA|USDA|VA) 4 $860,000 $215,000 $3,909 3.47%
    The Dalles, OR (FHA|USDA|VA) 3 $785,000 $261,667 $6,518 3.46%
    Coos Bay, OR (FHA|USDA|VA) 2 $670,000 $335,000 $5,728 3.06%
    Klamath Falls, OR (FHA|USDA|VA) 3 $615,000 $205,000 $3,328 2.83%
    Moses Lake, WA (FHA|USDA|VA) 3 $595,000 $198,333 $6,647 3.25%
    Hood River, OR (FHA|USDA|VA) 2 $560,000 $280,000 $3,664 3.44%
    Astoria, OR (FHA|USDA|VA) 1 $515,000 $515,000 $3,967 2.75%
    Pullman, WA (FHA|USDA|VA) 1 $425,000 $425,000 $2,753 3.00%
    Port Angeles, WA (FHA|USDA|VA) 1 $295,000 $295,000 $4,416 2.25%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $260,000 $130,000 $3,399 3.38%
    Aberdeen, WA (FHA|USDA|VA) 1 $195,000 $195,000 $3,650 3.50%
    Lpmc's top markets include Salem, Portland, Bend, Kennewick, and Eugene among others.

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

    TRISTAR FINANCE, INC.
    Similarity Rank: 378
    People's Community Federal Credit Union
    Similarity Rank: 434
    CASTPARTS EMPLOYEES
    Similarity Rank: 524
    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 594
    OREGONIANS CREDIT UNION
    Similarity Rank: 948
    LOANSNAP, INC.
    Similarity Rank: 1106
    Pacific NW Federal Credit Union
    Similarity Rank: 1344
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 1380
    SELCO COMMUNITY
    Similarity Rank: 1530
    Wauna Federal Credit Union
    Similarity Rank: 1644

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,703 $478,145,000 $280,766 $4,007 3.14%
    FHA 222 $62,300,000 $280,631 $9,136 2.87%
    VA 180 $57,500,000 $319,444 $6,605 2.72%
    USDA 30 $8,040,000 $268,000 $6,430 2.73%

    For 2020, Lpmc's most frequently originated type of loan was Conventional, with 1,703 originations. Their 2nd most popular type was FHA, with 222 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 868 $241,230,000 $277,915 $3,946 3.03%
    Home Purchase 750 $228,870,000 $305,160 $5,578 3.01%
    Cash Out Refi 517 $135,885,000 $262,834 $5,081 3.23%

    For 2020, Lpmc's most frequently cited loan purpose was Refi, with 868 originations. The 2nd most popular reason was Home Purchase, with 750 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,904 $551,000,000 $289,391 $4,897 3.09%
    15 Year 144 $33,990,000 $236,042 $3,883 2.77%
    20 Year 64 $15,820,000 $247,188 $4,211 3.16%
    Other 16 $4,120,000 $257,500 $3,799 3.28%
    10 Year 7 $1,055,000 $150,714 $3,241 3.09%

    For 2020, Lpmc's most frequently cited loan duration was 30 Year, with 1,904 originations. The 2nd most popular length was 15 Year, with 144 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,355 $386,255,000 $285,059
    $2k-3k 436 $120,650,000 $276,720
    $3k-4k 166 $49,520,000 $298,313
    $4k-5k 70 $20,860,000 $298,000
    $<1k 59 $11,485,000 $194,661
    $5k+ 49 $17,215,000 $351,327

    Lpmc's average total fees were $4,897, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,355 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 915 $265,345,000 $289,995
    3-4% 902 $256,240,000 $284,080
    <2.5% 253 $67,765,000 $267,846
    4-5% 62 $16,070,000 $259,194
    5-6% 3 $565,000 $188,333

    During 2020, Lpmc's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 915 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,419 $409,035,000 $288,256 $5,079 3.07%
    $100k-200k 391 $63,275,000 $161,829 $3,799 3.13%
    $400k-600k 273 $125,345,000 $459,139 $5,135 3.08%
    $100,000 or less 45 $2,695,000 $59,889 $2,084 2.25%
    $600k-1MM 5 $3,365,000 $673,000 $6,743 3.28%
    $1MM+ 2 $2,270,000 $1,135,000 $6,224 3.69%

    2020 saw Lpmc place emphasis on $200k-400k loans with 1,419 originations, totaling $409,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 581 $145,655,000 $250,697 $5,034 3.06%
    $100k-150k 480 $156,040,000 $325,083 $4,842 3.11%
    $75k-100k 451 $127,175,000 $281,984 $4,870 3.06%
    $50k or less 346 $78,480,000 $226,821 $4,597 2.93%
    $150k-250k 208 $73,210,000 $351,971 $4,281 3.16%
    $250k+ 68 $25,010,000 $367,794 $4,505 3.28%

    Lpmc lent most frequently to those with incomes in the $50k-75k range, with 581 originations. The second most popular income band? $100k-150k, with 480 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 491 $135,185,000 $275,326 $4,225 3.10%
    30-36% 382 $106,830,000 $279,660 $4,593 3.12%
    <20% 145 $39,355,000 $271,414 $3,921 3.08%
    42% 83 $23,045,000 $277,651 $5,115 3.01%
    40% 81 $23,105,000 $285,247 $4,827 3.06%
    41% 80 $23,380,000 $292,250 $4,860 3.12%
    44% 78 $22,410,000 $287,308 $4,359 3.14%
    38% 78 $21,290,000 $272,949 $4,524 3.13%
    36% 77 $22,625,000 $293,831 $4,535 3.12%
    50-60% 73 $21,615,000 $296,096 $9,151 2.88%
    43% 72 $20,260,000 $281,389 $5,839 3.05%
    39% 70 $19,470,000 $278,143 $4,771 3.12%
    49% 65 $18,315,000 $281,769 $4,976 3.20%
    45% 60 $17,620,000 $293,667 $5,708 3.10%
    46% 56 $17,080,000 $305,000 $5,042 3.13%
    48% 55 $16,905,000 $307,364 $5,822 3.00%
    37% 50 $14,110,000 $282,200 $4,447 2.95%
    47% 49 $14,195,000 $289,694 $5,651 3.09%
    >60% 1 $745,000 $745,000 $6,534 4.00%

    Lpmc lent most frequently to those with DTI ratios of 20-30%, with 491 originations. The next most common DTI ratio? 30-36%, with 382 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,954 $552,960,000 $282,989 $4,791 3.07%
    Not provided 108 $31,190,000 $288,796 $4,912 3.07%
    Asian 34 $10,310,000 $303,235 $4,842 3.06%
    Black 18 $5,740,000 $318,889 $5,242 3.13%
    American Indian 13 $3,375,000 $259,615 $3,894 3.05%
    Native Hawaiian or Islander 4 $980,000 $245,000 $5,020 2.63%
    Asian Indian 2 $830,000 $415,000 $3,315 3.19%
    Not applicable 1 $405,000 $405,000 $3,742 2.75%
    Filipino 1 $195,000 $195,000 $3,547 3.50%

    Approval Rates

    Total approvals of all applications
    98.49%

    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
    85.34%

    Lpmc has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,135 $605,985,000 $283,834

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 67 $15,365,000 $229,328
    Single Family (1-4 Units):Site-Built 2,068 $590,620,000 $285,600

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 97 $15,515,000 $159,948 $3,526 3.07%
    40-60% 395 $92,425,000 $233,987 $3,790 3.01%
    60-80% 837 $249,135,000 $297,652 $4,366 3.17%
    80-100% 752 $236,200,000 $314,096 $5,808 3.05%
    Over 100% 33 $11,985,000 $363,182 $11,005 2.69%
    Under 20% 21 $725,000 $34,524 $511 1.38%