Cadence Lending Group Mortgage Rates, Fees & Info

EL PASO, TX

LEI: 5493008T2QQO3QJ0EM38

Tax ID: 83-1187266

2.5 stars - out of 5 stars, based on 22 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Cadence Lending Group is a smaller mortgage company specializing in loans. Cadence Lending Group 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: El Paso, Las Cruces, Houston, Austin, and Midland among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cadence Lending Group 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. Cadence Lending Group 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 6.83% 3/23/23
    30 Year Conventional Refi 6.60% 3/23/23
    30 Year Cash-out Refi 6.70% 3/23/23
    30 Year FHA Purchase 7.54% 3/23/23
    30 Year FHA Refi 7.40% 3/23/23
    30 Year VA Purchase 6.40% 3/23/23
    30 Year VA Refi 6.27% 3/23/23
    30 Year USDA Purchase 6.58% 3/23/23
    15 Year Conventional Purchase 6.14% 3/23/23
    15 Year Conventional Refi 6.13% 3/23/23
    15 Year Cash-out Refi 6.13% 3/23/23
    15 Year VA Purchase 6.13% 3/23/23
    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.


    Originations

    468

    Origination Dollar Volume (All Markets)

    $124,720,000

    Awards

    CADENCE LENDING GROUP 30 Year Conventional Loans silver
    Show all (1) awards

    Relative Rate

    Cadence Lending Group's average 30 year fixed mortgage rate was 5.07%.

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

    This yields a difference of 0.31%.

    Relative Fees (Closing Costs)

    Cadence Lending Group's average total fees/closing costs for a 30 year fixed rate mortgage were $8,082.

    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
    EL PASO, TX (FHA|USDA|VA) 447 $118,575,000 $265,268 $8,016 5.01%
    LAS CRUCES, NM (FHA|USDA|VA) 13 $3,295,000 $253,462 $8,114 5.08%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $875,000 $291,667 $5,115 4.33%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $820,000 $410,000 $9,476 4.81%
    MIDLAND, TX (FHA|USDA|VA) 1 $505,000 $505,000 $8,869 6.50%
    Outside of Metro Areas 1 $455,000 $455,000 $12,720 3.25%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $195,000 $195,000 $4,947 4.50%
    Cadence Lending Group's top markets include El Paso, Las Cruces, Houston, Austin, and Midland among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Similar Lenders

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

    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 174
    Citizens Bank of Las Cruces
    Similarity Rank: 182
    EVOLVE
    Similarity Rank: 204
    GECU
    Similarity Rank: 310
    U S WIDE FINANCIAL LLC
    Similarity Rank: 336
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 385
    AAXY L.L.C.
    Similarity Rank: 432
    EL PASO AREA TEACHERS
    Similarity Rank: 612
    Rocky Mountain Mortgage Company
    Similarity Rank: 645
    FirstLight Federal Credit Union
    Similarity Rank: 660

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 260 $71,970,000 $276,808 $6,964 4.96%
    FHA 124 $28,100,000 $226,613 $9,980 5.18%
    VA 83 $24,445,000 $294,518 $8,358 4.87%
    USDA 1 $205,000 $205,000 $5,387 3.00%

    For 2022, Cadence Lending Group's most frequently originated type of loan was Conventional, with 260 originations. Their 2nd most popular type was FHA, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 443 $119,135,000 $268,928 $8,133 5.04%
    Refi 19 $3,835,000 $201,842 $5,450 4.41%
    Cash Out Refi 5 $1,655,000 $331,000 $6,758 3.55%
    Home Improvement 1 $95,000 $95,000 $4,148 4.50%

    For 2022, Cadence Lending Group's most frequently cited loan purpose was Home Purchase, with 443 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 445 $119,285,000 $268,056 $8,082 5.07%
    15 Year 21 $4,755,000 $226,429 $6,768 3.71%
    20 Year 2 $680,000 $340,000 $5,433 3.19%

    For 2022, Cadence Lending Group's most frequently cited loan duration was 30 Year, with 445 originations. The 2nd most popular length was 15 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 138 $35,450,000 $256,884
    $2k-3k 121 $28,195,000 $233,017
    $5k+ 92 $30,110,000 $327,283
    $3k-4k 45 $12,085,000 $268,556
    $4k-5k 43 $11,275,000 $262,209
    $<1k 27 $7,325,000 $271,296

    Cadence Lending Group's average total fees were $8,082, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 138 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 174 $46,220,000 $265,632
    3-4% 108 $28,280,000 $261,852
    4-5% 92 $25,060,000 $272,391
    6-7% 62 $17,350,000 $279,839
    2.5-3% 19 $4,815,000 $253,421
    7-8% 12 $2,810,000 $234,167
    <2.5% 1 $185,000 $185,000

    During 2022, Cadence Lending Group's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 5-6%, with 174 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 293 $80,855,000 $275,956 $8,263 5.02%
    $100k-200k 117 $19,555,000 $167,137 $6,742 4.97%
    $400k-600k 38 $18,250,000 $480,263 $10,748 5.28%
    $100,000 or less 12 $1,000,000 $83,333 $4,504 4.20%
    $600k-1MM 8 $5,060,000 $632,500 $9,214 4.58%

    2022 saw Cadence Lending Group place emphasis on $200k-400k loans with 293 originations, totaling $80,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 127 $37,125,000 $292,323 $8,081 4.95%
    $50k-75k 123 $26,305,000 $213,862 $7,840 5.03%
    $75k-100k 94 $23,550,000 $250,532 $8,369 5.15%
    $150k-250k 65 $21,905,000 $337,000 $8,172 5.06%
    $50k or less 34 $5,230,000 $153,824 $6,547 4.47%
    $250k+ 25 $10,605,000 $424,200 $8,754 5.15%

    Cadence Lending Group lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $50k-75k, with 123 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 74 $21,430,000 $289,595 $8,333 5.10%
    50-60% 69 $16,615,000 $240,797 $9,567 5.25%
    20-30% 58 $15,960,000 $275,172 $7,226 4.79%
    42% 26 $6,560,000 $252,308 $8,221 5.26%
    44% 24 $7,360,000 $306,667 $8,655 5.39%
    46% 22 $5,800,000 $263,636 $7,411 4.98%
    43% 22 $5,490,000 $249,545 $7,318 4.78%
    47% 20 $5,410,000 $270,500 $8,791 4.77%
    40% 19 $4,595,000 $241,842 $7,300 4.67%
    36% 19 $5,595,000 $294,474 $6,625 4.72%
    41% 18 $4,650,000 $258,333 $7,952 5.08%
    38% 16 $4,230,000 $264,375 $6,064 4.73%
    45% 15 $4,185,000 $279,000 $7,840 4.82%
    39% 14 $4,030,000 $287,857 $7,437 5.25%
    49% 14 $4,280,000 $305,714 $8,068 4.65%
    <20% 12 $2,360,000 $196,667 $6,524 4.91%
    37% 12 $2,840,000 $236,667 $7,685 5.07%
    48% 11 $2,665,000 $242,273 $8,828 5.11%
    >60% 3 $665,000 $221,667 $8,191 5.04%

    Cadence Lending Group lent most frequently to those with DTI ratios of 30-36%, with 74 originations. The next most common DTI ratio? 50-60%, with 69 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 418 $109,830,000 $262,751 $8,052 5.00%
    Not provided 15 $4,655,000 $310,333 $6,978 5.28%
    Black 14 $4,070,000 $290,714 $8,098 4.55%
    Asian 10 $3,220,000 $322,000 $6,712 4.89%
    American Indian 6 $1,730,000 $288,333 $11,045 5.63%
    Native Hawaiian or Islander 5 $1,215,000 $243,000 $6,444 5.05%

    Approval Rates

    Total approvals of all applications
    97.02%

    Cadence Lending Group 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
    75.00%

    Cadence Lending Group has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 468 $124,720,000 $266,496

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    468 $124,720,000 $266,496

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $105,000 $105,000 $3,827 4.88%
    40-60% 18 $3,290,000 $182,778 $5,142 4.06%
    60-80% 92 $24,110,000 $262,065 $7,220 5.05%
    80-100% 333 $89,985,000 $270,225 $8,118 5.05%
    Over 100% 23 $6,775,000 $294,565 $11,700 4.86%
    Under 20% 1 $455,000 $455,000 $12,720 3.25%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    CADENCE BANK Conventional home mortgage Trouble during payment process 1 100.0%