Bank Of Hope Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 549300F570XAWYN8Z237

Tax ID: 95-3972168

5 stars - Updated: 2/26/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Bank Of Hope is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of Hope has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, New York, San Diego, Corpus Christi, and Houston among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Hope 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. Bank Of Hope 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 6.33% 2/26/24
30 Year Conventional Refi 6.53% 2/26/24
30 Year Cash-out Refi 6.68% 2/26/24
15 Year Conventional Purchase 5.69% 2/26/24
15 Year Conventional Refi 5.84% 2/26/24
15 Year Cash-out Refi 5.84% 2/26/24
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.

Bank Of Hope Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Bank Of Hope. 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

712

Origination Dollar Volume (All Markets)

$993,660,000

Awards

Bank of Hope 30 Year Conventional Loans silver Bank of Hope 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Bank Of Hope's average 30 year fixed mortgage rate was 4.02%.

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

This yields a difference of -0.74%.

Relative Fees (Closing Costs)

Bank Of Hope's average total fees/closing costs for a 30 year fixed rate mortgage were $6,764.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 384 $637,460,000 $1,660,052 $6,758 3.91%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 158 $110,970,000 $702,342 $7,472 4.43%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 17 $50,375,000 $2,963,235 $6,353 3.69%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $43,505,000 $43,505,000 $0 2.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 8 $35,020,000 $4,377,500 $4,715 3.45%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 36 $26,730,000 $742,500 $5,422 4.03%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $13,720,000 $1,372,000 $5,440 3.55%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 15 $12,065,000 $804,333 $5,281 4.71%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $9,075,000 $1,815,000 $4,554 3.40%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 6 $7,580,000 $1,263,333 $4,224 4.48%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 19 $6,905,000 $363,421 $4,593 3.76%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 7 $6,785,000 $969,286 $7,971 4.59%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $6,360,000 $636,000 $6,744 4.33%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $5,000,000 $500,000 $4,624 4.31%
EL CENTRO, CA (FHA|USDA|VA) 1 $4,805,000 $4,805,000 $0 3.40%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $4,160,000 $2,080,000 $6,063 4.88%
Lufkin, TX (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 4.08%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $1,685,000 $561,667 $0 4.67%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $1,545,000 $1,545,000 $0 5.55%
Hudson, NY (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $21,452 4.88%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $1,100,000 $550,000 $0 5.47%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $705,000 $705,000 $0 4.20%
FRESNO, CA (FHA|USDA|VA) 1 $645,000 $645,000 $3,998 2.63%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $520,000 $260,000 $6,994 6.00%
BELLINGHAM, WA (FHA|USDA|VA) 1 $515,000 $515,000 $3,978 2.75%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $405,000 $405,000 $6,941 5.25%
MONTGOMERY, AL (FHA|USDA|VA) 1 $385,000 $385,000 $4,039 3.88%
SALINAS, CA (FHA|USDA|VA) 1 $365,000 $365,000 $0 6.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,892 6.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $325,000 $325,000 $4,520 4.63%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $305,000 $305,000 $4,163 7.13%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $285,000 $285,000 $0 5.38%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $255,000 $255,000 $3,602 5.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.88%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.00%
Bank Of Hope's top markets include Los Angeles, New York, San Diego, Corpus Christi, and Houston among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 712 $993,660,000 $1,395,590 $6,698 4.08%

    For 2022, Bank Of Hope's most frequently originated type of loan was Conventional, with 712 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 354 $421,970,000 $1,192,006 $7,398 4.33%
    Cash Out Refi 164 $357,360,000 $2,179,024 $5,598 4.01%
    Refi 148 $186,070,000 $1,257,230 $5,905 3.56%
    Other 27 $18,945,000 $701,667 $4,526 4.36%
    Home Improvement 19 $9,315,000 $490,263 $4,669 3.82%

    For 2022, Bank Of Hope's most frequently cited loan purpose was Home Purchase, with 354 originations. The 2nd most popular reason was Cash Out Refi, with 164 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 579 $616,145,000 $1,064,154 $6,764 4.02%
    10 Year 49 $148,255,000 $3,025,612 $3,795 4.85%
    Other 47 $86,565,000 $1,841,809 $0 4.36%
    15 Year 20 $10,920,000 $546,000 $5,578 3.36%
    5 Year 16 $131,670,000 $8,229,375 $0 4.20%
    20 Year 1 $105,000 $105,000 $2,850 2.88%

    For 2022, Bank Of Hope's most frequently cited loan duration was 30 Year, with 579 originations. The 2nd most popular length was 10 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 305 $235,095,000 $770,803
    $2k-3k 43 $24,085,000 $560,116
    $5k+ 31 $25,245,000 $814,355
    $3k-4k 19 $13,075,000 $688,158
    $4k-5k 11 $7,045,000 $640,455
    $<1k 1 $525,000 $525,000

    Bank Of Hope's average total fees were $6,764, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 305 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 290 $365,810,000 $1,261,414
    4-5% 179 $339,425,000 $1,896,229
    2.5-3% 93 $86,045,000 $925,215
    5-6% 84 $97,070,000 $1,155,595
    6-7% 38 $32,710,000 $860,789
    <2.5% 22 $70,300,000 $3,195,455
    7-8% 3 $1,235,000 $411,667
    Over 8% 3 $1,065,000 $355,000

    During 2022, Bank Of Hope's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 3-4%, with 290 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 249 $746,045,000 $2,996,165 $8,709 3.95%
    $600k-1MM 176 $135,530,000 $770,057 $6,595 4.19%
    $400k-600k 153 $74,755,000 $488,595 $6,494 4.15%
    $200k-400k 106 $33,050,000 $311,792 $5,390 4.11%
    $100k-200k 27 $4,195,000 $155,370 $4,532 4.08%
    $100,000 or less 1 $85,000 $85,000 $3,720 7.38%

    2022 saw Bank Of Hope place emphasis on $1MM+ loans with 249 originations, totaling $746,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 207 $219,045,000 $1,058,188 $8,127 4.00%
    $150k-250k 137 $93,795,000 $684,635 $6,359 4.07%
    $100k-150k 99 $47,645,000 $481,263 $6,426 4.09%
    $75k-100k 47 $19,235,000 $409,255 $5,449 3.93%
    $50k-75k 30 $9,100,000 $303,333 $4,585 4.00%
    $50k or less 10 $1,720,000 $172,000 $4,747 4.11%

    Bank Of Hope lent most frequently to those with incomes in the $250k+ range, with 207 originations. The second most popular income band? $150k-250k, with 137 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 81 $64,065,000 $790,926 $6,951 4.03%
    30-36% 78 $57,840,000 $741,538 $6,217 4.18%
    48% 35 $24,495,000 $699,857 $7,297 3.88%
    41% 34 $23,860,000 $701,765 $6,845 4.09%
    49% 32 $21,910,000 $684,688 $6,541 4.29%
    <20% 31 $27,435,000 $885,000 $6,457 3.88%
    46% 30 $24,410,000 $813,667 $6,405 3.80%
    39% 26 $19,140,000 $736,154 $7,999 4.54%
    45% 25 $19,745,000 $789,800 $6,976 4.08%
    42% 25 $18,995,000 $759,800 $7,063 3.60%
    47% 23 $13,445,000 $584,565 $6,194 3.78%
    44% 22 $15,260,000 $693,636 $6,083 3.72%
    43% 22 $18,640,000 $847,273 $6,417 3.80%
    37% 20 $15,450,000 $772,500 $7,088 4.17%
    38% 15 $6,675,000 $445,000 $5,865 4.28%
    40% 15 $8,375,000 $558,333 $6,298 3.99%
    36% 14 $10,070,000 $719,286 $6,437 4.06%

    Bank Of Hope lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 141 $543,655,000 $3,855,709 $0 4.30%
    Asian 415 $283,595,000 $683,361 $6,615 4.12%
    Not provided 97 $102,135,000 $1,052,938 $6,525 3.57%
    White 56 $61,320,000 $1,095,000 $7,176 4.09%
    Black 3 $2,955,000 $985,000 $12,639 5.21%

    Approval Rates

    Total approvals of all applications
    94.13%

    Bank Of Hope has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.74%

    Bank Of Hope has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 712 $993,660,000 $1,395,590

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    712 $993,660,000 $1,395,590

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $85,140,000 $774,000 $5,191 3.81%
    40-60% 218 $338,490,000 $1,552,706 $6,582 4.09%
    60-80% 325 $530,025,000 $1,630,846 $7,115 4.19%
    80-100% 46 $35,050,000 $761,957 $7,184 3.97%
    Under 20% 13 $4,955,000 $381,154 $5,640 3.84%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%