Cadence Lending Group Mortgage Rates, Fees & Info
EL PASO, TXLEI: 5493008T2QQO3QJ0EM38
Tax ID: 83-1187266
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Mortgage Data
Review & 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 a a high proportion of FHA loans. Their top markets by origination volume include: El Paso, Las Cruces, Austin, Dallas, and Corpus Christi 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 a high 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.83% | 11/17/24 |
| 30 Year Conventional Refi | 6.60% | 11/17/24 |
| 30 Year Cash-out Refi | 6.70% | 11/17/24 |
| 30 Year FHA Purchase | 7.54% | 11/17/24 |
| 30 Year FHA Refi | 7.40% | 11/17/24 |
| 30 Year VA Purchase | 6.40% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.58% | 11/17/24 |
| 15 Year Conventional Purchase | 6.14% | 11/17/24 |
| 15 Year Conventional Refi | 6.13% | 11/17/24 |
| 15 Year Cash-out Refi | 6.13% | 11/17/24 |
| 15 Year VA Purchase | 6.13% | 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. | ||
Cadence Lending Group Mortgage Calculator
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Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Cadence Lending Group. 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
343Origination Dollar Volume (All Markets)
$99,685,000Relative Rate
Cadence Lending Group's average 30 year fixed mortgage rate was
6.53%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.05%.
Relative Fees (Closing Costs)
Cadence Lending Group's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,782.
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 $9,089.
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) | 331 | $95,355,000 | $288,082 | $10,775 | 6.53% |
| LAS CRUCES, NM (FHA|USDA|VA) | 7 | $2,095,000 | $299,286 | $10,939 | 6.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,771 | 6.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $13,227 | 5.50% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $12,119 | 4.57% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,761 | 7.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,383 | 6.75% |
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.
Similarity Rank: 18
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Similarity Rank: 564
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 131 | $38,405,000 | $293,168 | $8,660 | 6.80% |
| FHA | 129 | $33,605,000 | $260,504 | $13,323 | 6.41% |
| VA | 83 | $27,675,000 | $333,434 | $10,060 | 6.27% |
For 2023, Cadence Lending Group's most frequently originated type of loan was Conventional, with 131 originations. Their 2nd most popular type was FHA, with 129 originations.
Loan Reason
For 2023, Cadence Lending Group's most frequently cited loan purpose was Home Purchase, with 337 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
For 2023, Cadence Lending Group's most frequently cited loan duration was 30 Year, with 336 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
Cadence Lending Group's average total fees were $10,782, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 143 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 152 | $44,510,000 | $292,829 |
| 5-6% | 100 | $27,950,000 | $279,500 |
| 7-8% | 81 | $24,415,000 | $301,420 |
| 4-5% | 6 | $1,630,000 | $271,667 |
| Over 8% | 4 | $1,180,000 | $295,000 |
During 2023, Cadence Lending Group's average interest rate for loans was 6.53%, while their most frequently originated rate bucket for loans was 6-7%, with 152 originations.
Loan Sizing
2023 saw Cadence Lending Group place emphasis on $200k-400k loans with 230 originations, totaling $63,470,000 in origination value.
Applicant Income
Cadence Lending Group lent most frequently to those with incomes in the $100k-150k range, with 86 originations. The second most popular income band? $50k-75k, with 82 originations.
Applicant Debt to Income Ratio
Cadence Lending Group lent most frequently to those with DTI ratios of 50-60%, with 56 originations. The next most common DTI ratio? 30-36%, with 41 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.50%
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 origination84.84%
Cadence Lending Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 343 | $99,685,000 | $290,627 |