Bank Of Hope Mortgage Rates, Fees & Info
Los Angeles, CALEI: 549300F570XAWYN8Z237
Tax ID: 95-3972168
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Mortgage Data
Review & Overview
Bank Of Hope is a smaller bank specializing in Home Purchase loans. Bank Of Hope has a high proportion of conventional loans. Their top markets by origination volume include: New York, Los Angeles, Las Vegas, San Diego, and Atlanta among others. We have data for 63 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.32% | 4/17/25 |
| 30 Year Conventional Refi | 7.24% | 4/17/25 |
| 30 Year Cash-out Refi | 7.47% | 4/17/25 |
| 15 Year Conventional Purchase | 5.84% | 4/17/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
596Origination Dollar Volume (All Markets)
$382,000,000Awards
Bank of Hope - 2024
Bank of Hope is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Bank Of Hope's average 30 year fixed mortgage rate was
6.84%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.29%.
Relative Fees (Closing Costs)
Bank Of Hope's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,652.
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 $8,356.
Top Markets
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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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 370 | $241,810,000 | $653,541 | $8,545 | 6.82% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 60 | $75,150,000 | $1,252,500 | $7,192 | 6.81% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 17 | $6,545,000 | $385,000 | $4,878 | 6.98% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 6 | $5,290,000 | $881,667 | $6,287 | 6.67% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 9 | $4,265,000 | $473,889 | $5,557 | 6.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $3,415,000 | $487,857 | $5,175 | 7.04% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $3,175,000 | $1,058,333 | $11,492 | 6.88% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $3,015,000 | $430,714 | $4,848 | 6.75% |
| Outside of Metro Areas | 10 | $2,910,000 | $291,000 | $5,376 | 7.01% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 9 | $2,495,000 | $277,222 | $5,312 | 6.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $2,385,000 | $795,000 | $7,474 | 6.92% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $2,355,000 | $785,000 | $11,945 | 6.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 9 | $2,215,000 | $246,111 | $5,907 | 6.71% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $2,215,000 | $738,333 | $6,203 | 6.54% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $1,400,000 | $700,000 | $7,490 | 6.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $5,682 | 6.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $4,704 | 6.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $5,510 | 6.88% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $4,720 | 6.88% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $4,875 | 6.58% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $4,097 | 7.25% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $4,273 | 6.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $5,245 | 6.54% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $5,116 | 6.63% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $6,636 | 7.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $5,021 | 6.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 7.63% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $5,932 | 6.88% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $5,701 | 7.06% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,516 | 6.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,898 | 6.81% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $6,458 | 6.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $5,318 | 7.38% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,898 | 6.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,913 | 7.13% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,067 | 7.08% |
| AKRON, OH (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,146 | 7.06% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $6,732 | 7.25% |
| SALEM, OR (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,330 | 6.88% |
| Hudson, NY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,940 | 7.13% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,310 | 6.69% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,492 | 6.94% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 7.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,336 | 5.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,874 | 6.38% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 6.75% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,135 | 6.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,771 | 6.25% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,090 | 7.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.13% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,077 | 7.25% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,730 | 7.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,056 | 6.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,707 | 7.13% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,184 | 6.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,294 | 5.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,806 | 7.13% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.75% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,675 | 6.63% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,246 | 6.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,163 | 7.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,178 | 7.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,106 | 6.50% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 596 | $382,000,000 | $640,940 | $7,618 | 6.82% |
For 2024, Bank Of Hope's most frequently originated type of loan was Conventional, with 596 originations.
Loan Reason
For 2024, Bank Of Hope's most frequently cited loan purpose was Home Purchase, with 485 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.
Loan Duration/Length
For 2024, Bank Of Hope's most frequently cited loan duration was 30 Year, with 555 originations. The 2nd most popular length was 5 Year, with 22 originations.
Origination Fees/Closing Costs
Bank Of Hope's average total fees were $7,652, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 387 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 388 | $255,850,000 | $659,407 |
| 7-8% | 184 | $117,270,000 | $637,337 |
| 5-6% | 23 | $8,745,000 | $380,217 |
During 2024, Bank Of Hope's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was 6-7%, with 388 originations.
Loan Sizing
2024 saw Bank Of Hope place emphasis on $400k-600k loans with 188 originations, totaling $92,240,000 in origination value.
Applicant Income
Bank Of Hope lent most frequently to those with incomes in the $150k-250k range, with 174 originations. The second most popular income band? $100k-150k, with 170 originations.
Applicant Debt to Income Ratio
Bank Of Hope lent most frequently to those with DTI ratios of 30-36%, with 80 originations. The next most common DTI ratio? 20-30%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.60%
Bank Of Hope has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination48.49%
Bank Of Hope 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 | 596 | $382,000,000 | $640,940 |