Goldenwest Mortgage Rates, Fees & Info

Ogden, UT

LEI: 549300BDHZAV4ZQHQV19

Tax ID: 87-0214471

5 stars - out of 5 stars, based on 74 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Goldenwest is a small mortgage company specializing in Home Improvement, Refi, and Cash Out Refi loans. Goldenwest has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Ogden, Logan, Salt Lake City, St. George, and Provo among others. Goldenwest has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Goldenwest is typically an average fee lendor.


Originations

5,474

Origination Dollar Volume (All Markets)

$1,001,900,000

Awards

GOLDENWEST 30 Year Conventional Loans bronze GOLDENWEST VA Loans gold GOLDENWEST 30 Year Conventional Loans bronze GOLDENWEST VA Loans gold
Show all (4) awards

Relative Rate

Goldenwest's average 30 year fixed rate mortgage of loans were 3%.

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

This yields a difference of -0.15%.

Relative Fees

Goldenwest's average total fees for a 30 year fixed rate mortgage are $4,062.

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
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 3,322 $600,690,000 $180,822 $3,531 3.17%
LOGAN, UT-ID (FHA|USDA|VA) 709 $129,535,000 $182,701 $3,346 3.14%
SALT LAKE CITY, UT (FHA|USDA|VA) 662 $125,380,000 $189,396 $3,888 3.27%
ST. GEORGE, UT (FHA|USDA|VA) 392 $73,510,000 $187,526 $3,667 3.26%
PROVO-OREM, UT (FHA|USDA|VA) 273 $50,195,000 $183,864 $3,695 3.29%
Outside of Metro Areas 45 $7,695,000 $171,000 $3,516 3.16%
Heber, UT (FHA|USDA|VA) 29 $6,545,000 $225,690 $3,191 3.20%
Cedar City, UT (FHA|USDA|VA) 20 $3,390,000 $169,500 $3,620 3.16%
Burley, ID (FHA|USDA|VA) 7 $1,715,000 $245,000 $5,639 2.96%
TWIN FALLS, ID (FHA|USDA|VA) 3 $615,000 $205,000 $4,852 3.00%
POCATELLO, ID (FHA|USDA|VA) 2 $540,000 $270,000 $4,590 2.50%
Rexburg, ID (FHA|USDA|VA) 1 $505,000 $505,000 $6,857 3.38%
Hailey, ID (FHA|USDA|VA) 1 $475,000 $475,000 $9,168 3.50%
Vernal, UT (FHA|USDA|VA) 2 $290,000 $145,000 $2,651 2.38%
GREENVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $4,820 4.25%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $205,000 $205,000 $3,695 2.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $145,000 $145,000 $2,173 2.75%
Price, UT (FHA|USDA|VA) 1 $125,000 $125,000 $2,531 2.75%
Blackfoot, ID (FHA|USDA|VA) 1 $75,000 $75,000 $2,615 2.63%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $35,000 $35,000 $2,414 1.88%

Goldenwest's top markets include Ogden, Logan, Salt Lake City, St. George, and Provo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 5,351 $963,135,000 $179,992 $3,350 3.21%
VA 74 $24,330,000 $328,784 $6,514 2.34%
FHA 43 $12,435,000 $289,186 $9,343 2.87%
USDA 6 $2,000,000 $333,333 $7,292 2.35%

For the 2021 period, Goldenwest's most frequently originated loan type of loans were Conventional, with 5,351 originations. Their 2nd most popular type is VA, with 74 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 2,081 $267,525,000 $128,556 $3,446 3.37%
Refi 1,156 $266,220,000 $230,294 $3,183 2.81%
Cash Out Refi 1,128 $256,380,000 $227,287 $3,561 3.13%
Home Purchase 587 $171,605,000 $292,342 $4,587 3.13%
Other 522 $40,170,000 $76,954 $1 3.52%

For the 2021, Goldenwest's most frequently cited loan purpose of loans were Home Improvement, with 2,081 originations. The 2nd most popular reason of loans were Refi, with 1,156 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
20 Year 3,126 $386,620,000 $123,679 $3,078 3.40%
30 Year 1,665 $491,465,000 $295,174 $4,062 3.00%
15 Year 450 $89,110,000 $198,022 $2,939 2.32%
10 Year 126 $12,020,000 $95,397 $850 3.37%
Other 47 $3,745,000 $79,681 $870 3.44%
5 Year 33 $2,515,000 $76,212 $139 3.29%
30+ year 27 $16,425,000 $608,333 $10,483 3.77%

For the 2021, Goldenwest's most frequently cited loan length of loans were 20 Year, with 3,126 originations. The 2nd most popular length of loans were 30 Year, with 1,665 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,142 $235,630,000 $206,331
$2k-3k 617 $209,355,000 $339,311
$<1k 378 $46,150,000 $122,090
$3k-4k 266 $109,230,000 $410,639
$5k+ 88 $50,530,000 $574,205

$4,062 of loans were Goldenwest's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,142 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 3,460 $516,690,000 $149,332
2.5-3% 1,160 $326,790,000 $281,716
<2.5% 603 $129,365,000 $214,536
4-5% 237 $28,615,000 $120,738
5-6% 12 $280,000 $23,333
6-7% 2 $160,000 $80,000

During 2021, Goldenwest's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 3-4%, with 3,460 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,865 $100,795,000 $54,046 $930 3.45%
$200k-400k 1,684 $460,100,000 $273,219 $3,992 3.03%
$100k-200k 1,479 $212,095,000 $143,404 $2,486 3.10%
$400k-600k 380 $179,280,000 $471,789 $5,731 3.00%
$600k-1MM 61 $43,895,000 $719,590 $7,897 3.21%
$1MM+ 5 $5,735,000 $1,147,000 $15,968 3.35%

2021 saw Goldenwest place emphasis on $100,000 or less loans with 1,865 originations, totaling $100,795,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,492 $275,490,000 $184,645 $3,823 3.24%
$75k-100k 1,111 $187,475,000 $168,744 $3,509 3.16%
$50k-75k 1,109 $184,755,000 $166,596 $3,345 3.10%
$150k-250k 839 $174,645,000 $208,159 $4,655 3.32%
$50k or less 570 $80,550,000 $141,316 $2,748 2.99%
$250k+ 342 $97,680,000 $285,614 $5,053 3.35%

Goldenwest lent most frequently to those with incomes in the $100k-150k range, with 1,492 originations. The second most popular income band? $75k-100k, with 1,111 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,402 $237,040,000 $169,073 $3,249 3.15%
30-36% 1,203 $217,715,000 $180,977 $3,549 3.22%
<20% 663 $116,625,000 $175,905 $3,043 3.09%
39% 293 $53,585,000 $182,884 $3,676 3.25%
38% 263 $45,735,000 $173,897 $3,783 3.26%
40% 255 $48,185,000 $188,961 $4,011 3.26%
41% 244 $44,270,000 $181,434 $3,673 3.30%
37% 232 $41,240,000 $177,759 $3,394 3.31%
42% 231 $43,655,000 $188,983 $3,956 3.21%
36% 208 $33,300,000 $160,096 $3,790 3.30%
43% 163 $39,105,000 $239,908 $4,167 3.12%
44% 126 $29,190,000 $231,667 $3,912 3.13%
45% 60 $16,450,000 $274,167 $4,083 3.11%
46% 36 $10,370,000 $288,056 $4,286 3.02%
47% 25 $6,775,000 $271,000 $4,522 2.90%
48% 24 $7,100,000 $295,833 $4,070 2.98%
50-60% 17 $3,885,000 $228,529 $6,012 3.38%
49% 11 $3,255,000 $295,909 $3,548 2.97%
>60% 7 $1,575,000 $225,000 $3,195 3.23%

Goldenwest lent most frequently to those with DTI ratios of 20-30%, with 1,402 originations. The next most common DTI ratio? 30-36%, with 1,203 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,983 $913,945,000 $183,413 $3,533 3.19%
Not provided 301 $54,925,000 $182,475 $3,729 3.16%
Asian 110 $20,210,000 $183,727 $3,610 3.13%
Black 29 $4,695,000 $161,897 $3,967 3.28%
American Indian 20 $3,680,000 $184,000 $5,054 3.21%
Native Hawaiian 25 $3,645,000 $145,800 $4,489 3.45%
1 $315,000 $315,000 $4,192 3.13%
Other Pacific Islander 1 $185,000 $185,000 $2,759 2.38%
Japanese 1 $135,000 $135,000 $2,059 2.25%
Asian Indian 2 $130,000 $65,000 $0 3.38%
Other Asian 1 $35,000 $35,000 $0 4.25%

Approval Rates

Total approvals of all applications
86.60%

Goldenwest has an average approval rate.

Pick Rate

Approvals leading to origination
51.26%

Goldenwest has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 5,474 $1,001,900,000 $183,029

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
5,474 $1,001,900,000 $183,029

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,294 $202,430,000 $156,437 $2,322 3.23%
40-60% 872 $204,290,000 $234,278 $3,140 2.84%
60-80% 1,026 $334,990,000 $326,501 $4,120 3.04%
80-100% 391 $137,075,000 $350,575 $5,134 2.95%
Over 100% 5 $2,145,000 $429,000 $15,355 2.50%
Under 20% 1,886 $120,970,000 $64,141 $684 3.46%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GOLDEN 1 CREDIT UNION, THE Conventional home mortgage Struggling to pay mortgage 1 12.5%
GOLDEN 1 CREDIT UNION, THE Conventional home mortgage Trouble during payment process 4 50.0%
GOLDEN 1 CREDIT UNION, THE FHA mortgage Struggling to pay mortgage 1 12.5%
GOLDEN 1 CREDIT UNION, THE FHA mortgage Trouble during payment process 1 12.5%
GOLDEN 1 CREDIT UNION, THE Other type of mortgage Trouble during payment process 1 12.5%