Cadence Lending Group Mortgage Rates, Fees & Info

EL PASO, TX

LEI: 5493008T2QQO3QJ0EM38

Tax ID: 83-1187266

4 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cadence Lending Group is a smaller mortgage company specializing in Home Purchase 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 include El Paso, Las Cruces, Austin, Houston, and Dallas among others. Cadence Lending Group 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. Cadence Lending Group is typically a high fee lendor.


Originations

750

Origination Dollar Volume (All Markets)

$171,820,000

Awards

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

Relative Rate

Cadence Lending Group 's average 30 year fixed rate mortgage of loans were 3.03%.

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

This yields a difference of -0.12%.

Relative Fees

Cadence Lending Group 's average total fees for a 30 year fixed rate mortgage are $6,138.

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
EL PASO, TX (FHA|USDA|VA) 706 $160,790,000 $227,748 $6,052 3.00%
LAS CRUCES, NM (FHA|USDA|VA) 16 $3,930,000 $245,625 $6,721 2.94%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $1,455,000 $485,000 $6,030 2.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $1,340,000 $223,333 $4,506 2.71%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,105,000 $368,333 $5,746 2.96%
Ruidoso, NM (FHA|USDA|VA) 4 $830,000 $207,500 $3,584 2.63%
Alamogordo, NM (FHA|USDA|VA) 3 $825,000 $275,000 $3,826 3.25%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $490,000 $245,000 $7,165 2.75%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $440,000 $220,000 $6,998 2.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $210,000 $105,000 $3,785 2.88%
Outside of Metro Areas 1 $195,000 $195,000 $4,935 2.75%
Andrews, TX (FHA|USDA|VA) 1 $125,000 $125,000 $4,391 3.13%
Rockport, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,624 3.63%

Cadence Lending Group 's top markets include El Paso, Las Cruces, Austin, Houston, and Dallas among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 413 $97,455,000 $235,969 $4,808 2.99%
FHA 232 $45,380,000 $195,603 $8,065 3.08%
VA 103 $28,615,000 $277,816 $6,309 2.79%
USDA 2 $370,000 $185,000 $6,004 3.00%

For the 2021 period, Cadence Lending Group 's most frequently originated loan type of loans were Conventional, with 413 originations. Their 2nd most popular type is FHA, with 232 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 659 $153,475,000 $232,891 $6,282 3.01%
Refi 71 $14,315,000 $201,620 $3,972 2.77%
Cash Out Refi 18 $3,680,000 $204,444 $4,767 3.22%
Home Improvement 2 $350,000 $175,000 $5,609 2.69%

For the 2021, Cadence Lending Group 's most frequently cited loan purpose of loans were Home Purchase, with 659 originations. The 2nd most popular reason of loans were Refi, with 71 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 694 $160,160,000 $230,778 $6,138 3.03%
15 Year 49 $9,785,000 $199,694 $4,520 2.52%
20 Year 6 $1,760,000 $293,333 $5,607 2.71%
10 Year 1 $115,000 $115,000 $3,667 2.63%

For the 2021, Cadence Lending Group 's most frequently cited loan length of loans were 30 Year, with 694 originations. The 2nd most popular length of loans were 15 Year, with 49 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 464 $106,180,000 $228,836
$2k-3k 134 $27,370,000 $204,254
$<1k 109 $26,605,000 $244,083
$3k-4k 33 $8,805,000 $266,818
$5k+ 10 $2,860,000 $286,000

$6,138 of loans were Cadence Lending Group 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 464 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 339 $80,075,000 $236,209
3-4% 295 $64,145,000 $217,441
<2.5% 107 $25,745,000 $240,607
4-5% 9 $1,855,000 $206,111

During 2021, Cadence Lending Group 's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 339 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 347 $92,835,000 $267,536 $6,546 2.95%
$100k-200k 323 $51,205,000 $158,529 $5,453 3.05%
$400k-600k 52 $24,520,000 $471,538 $7,181 2.88%
$100,000 or less 27 $2,275,000 $84,259 $3,851 3.03%
$600k-1MM 1 $985,000 $985,000 $8,267 3.25%

2021 saw Cadence Lending Group place emphasis on $200k-400k loans with 347 originations, totaling $92,835,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 199 $39,275,000 $197,362 $6,324 3.06%
$100k-150k 160 $42,620,000 $266,375 $6,102 2.96%
$75k-100k 132 $29,560,000 $223,939 $6,145 3.00%
$50k or less 128 $19,180,000 $149,844 $5,652 2.97%
$150k-250k 86 $28,470,000 $331,047 $5,823 2.91%
$250k+ 42 $12,070,000 $287,381 $5,606 3.01%

Cadence Lending Group lent most frequently to those with incomes in the $50k-75k range, with 199 originations. The second most popular income band? $100k-150k, with 160 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 118 $29,370,000 $248,898 $5,730 2.92%
20-30% 101 $25,145,000 $248,960 $5,522 2.95%
50-60% 77 $17,115,000 $222,273 $8,038 2.97%
<20% 49 $12,065,000 $246,224 $5,223 2.83%
44% 35 $8,275,000 $236,429 $5,740 3.16%
36% 34 $6,730,000 $197,941 $5,699 3.19%
42% 32 $7,190,000 $224,688 $5,956 3.01%
46% 31 $6,225,000 $200,806 $5,815 2.98%
48% 31 $7,115,000 $229,516 $6,292 3.14%
43% 31 $7,145,000 $230,484 $7,228 3.09%
38% 29 $5,885,000 $202,931 $5,806 3.19%
41% 28 $6,120,000 $218,571 $5,898 3.06%
45% 25 $5,305,000 $212,200 $5,902 2.96%
40% 24 $5,290,000 $220,417 $5,713 2.99%
37% 24 $5,060,000 $210,833 $5,881 2.94%
39% 23 $6,025,000 $261,957 $5,564 2.91%
49% 23 $4,635,000 $201,522 $5,898 2.99%
47% 23 $4,735,000 $205,870 $6,020 3.08%
>60% 5 $1,135,000 $227,000 $7,648 3.05%

Cadence Lending Group lent most frequently to those with DTI ratios of 30-36%, with 118 originations. The next most common DTI ratio? 20-30%, with 101 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 636 $143,070,000 $224,953 $5,956 3.00%
Not provided 71 $16,585,000 $233,592 $6,247 2.98%
Black 17 $5,415,000 $318,529 $7,447 2.89%
Asian 20 $4,620,000 $231,000 $5,939 2.99%
American Indian 4 $1,310,000 $327,500 $6,326 2.66%
Other Pacific Islander 1 $485,000 $485,000 $5,253 2.50%
Native Hawaiian 1 $335,000 $335,000 $11,231 3.13%

Approval Rates

Total approvals of all applications
97.26%

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
86.89%

Cadence Lending Group has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 750 $171,820,000 $229,093

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
750 $171,820,000 $229,093

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 3 $335,000 $111,667 $3,874 2.96%
40-60% 31 $4,835,000 $155,968 $3,862 2.73%
60-80% 134 $30,360,000 $226,567 $4,764 3.01%
80-100% 552 $128,210,000 $232,264 $6,224 3.01%
Over 100% 28 $7,970,000 $284,643 $11,041 2.83%
Under 20% 2 $110,000 $55,000 $2,043 2.44%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
CADENCE BANCORPORATION Conventional home mortgage Trouble during payment process 1 100.0%