Avadian Mortgage Rates, Fees & Info
Hoover, ALLEI: 549300FGGERPRKXH7V65
Tax ID: 63-0207315
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Avadian is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Avadian 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 Birmingham, Huntsville, Dothan, Mobile, and Daphne among others. Avadian 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. Avadian is typically an average fee lendor.Originations
986Origination Dollar Volume (All Markets)
$249,860,000Awards
AVADIAN - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Avadian's average 30 year fixed rate mortgage of loans were
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.19%.
Relative Fees
Avadian's average total fees for a 30 year fixed rate
mortgage are $3,736.
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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 486 | $117,740,000 | $242,263 | $2,990 | 2.85% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 271 | $86,795,000 | $320,277 | $4,503 | 2.92% |
| DOTHAN, AL (FHA|USDA|VA) | 97 | $14,485,000 | $149,330 | $3,084 | 2.79% |
| MOBILE, AL (FHA|USDA|VA) | 22 | $3,010,000 | $136,818 | $2,550 | 3.04% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 10 | $2,950,000 | $295,000 | $3,427 | 2.84% |
| Outside of Metro Areas | 9 | $2,945,000 | $327,222 | $4,162 | 2.89% |
| Scottsboro, AL (FHA|USDA|VA) | 8 | $2,680,000 | $335,000 | $5,523 | 3.09% |
| MONTGOMERY, AL (FHA|USDA|VA) | 12 | $2,470,000 | $205,833 | $3,356 | 2.69% |
| Alexander City, AL (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $3,604 | 2.89% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 7 | $1,995,000 | $285,000 | $3,867 | 2.77% |
| DECATUR, AL (FHA|USDA|VA) | 5 | $1,715,000 | $343,000 | $4,617 | 3.03% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 7 | $1,465,000 | $209,286 | $2,979 | 3.04% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $3,941 | 3.25% |
| Jasper, AL (FHA|USDA|VA) | 8 | $1,180,000 | $147,500 | $4,109 | 2.94% |
| Albertville, AL (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $6,390 | 3.13% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $2,441 | 3.10% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $2,508 | 2.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $2,688 | 2.81% |
| Cullman, AL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,959 | 2.88% |
| Ozark, AL (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $3,188 | 3.04% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $3,274 | 2.25% |
| Enterprise, AL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,624 | 2.75% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,876 | 2.88% |
| GADSDEN, AL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,661 | 2.94% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,124 | 3.75% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,660 | 2.63% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,066 | 3.25% |
| Atmore, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,769 | 2.25% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,937 | 2.75% |
Avadian's top markets include Birmingham, Huntsville, Dothan, Mobile, and Daphne among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 893 | $220,715,000 | $247,161 | $3,203 | 2.89% |
| VA | 62 | $23,830,000 | $384,355 | $6,668 | 2.68% |
| FHA | 19 | $3,445,000 | $181,316 | $5,772 | 2.81% |
| USDA | 12 | $1,870,000 | $155,833 | $4,377 | 2.68% |
For the 2021 period, Avadian's most frequently originated loan type of loans were Conventional, with 893 originations. Their 2nd most popular type is VA, with 62 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 379 | $112,835,000 | $297,718 | $4,100 | 2.94% |
| Refi | 327 | $75,855,000 | $231,972 | $3,254 | 2.67% |
| Cash Out Refi | 276 | $59,840,000 | $216,812 | $2,876 | 3.02% |
| Other | 3 | $1,075,000 | $358,333 | $7,825 | 3.21% |
| Home Improvement | 1 | $255,000 | $255,000 | $3,334 | 2.38% |
For the 2021, Avadian's most frequently cited loan purpose of loans were Home Purchase, with 379 originations. The 2nd most popular reason of loans were Refi, with 327 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 739 | $201,845,000 | $273,133 | $3,736 | 2.96% |
| 15 Year | 191 | $37,255,000 | $195,052 | $2,824 | 2.39% |
| 20 Year | 32 | $7,550,000 | $235,938 | $2,867 | 2.76% |
| 10 Year | 8 | $970,000 | $121,250 | $1,275 | 3.91% |
| Other | 8 | $1,130,000 | $141,250 | $2,243 | 4.48% |
| 5 Year | 7 | $705,000 | $100,714 | $1,255 | 4.46% |
| 30+ year | 1 | $405,000 | $405,000 | $8,472 | 4.00% |
For the 2021, Avadian's most frequently cited loan length of loans were 30 Year, with 739 originations. The 2nd most popular length of loans were 15 Year, with 191 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 683 | $164,965,000 | $241,530 |
| $1k-2k | 91 | $15,865,000 | $174,341 |
| $3k-4k | 66 | $23,130,000 | $350,455 |
| $2k-3k | 62 | $15,940,000 | $257,097 |
| $5k+ | 37 | $21,245,000 | $574,189 |
$3,736 of loans were Avadian's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 683 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 440 | $113,800,000 | $258,636 |
| <2.5% | 272 | $63,840,000 | $234,706 |
| 3-4% | 252 | $69,810,000 | $277,024 |
| 4-5% | 14 | $2,020,000 | $144,286 |
| 5-6% | 7 | $365,000 | $52,143 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2021, Avadian's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 2.5-3%, with 440 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 379 | $107,765,000 | $284,340 | $3,564 | 2.85% |
| $100k-200k | 353 | $52,245,000 | $148,003 | $2,719 | 2.84% |
| $400k-600k | 129 | $61,645,000 | $477,868 | $5,126 | 2.81% |
| $100,000 or less | 96 | $7,140,000 | $74,375 | $2,260 | 3.10% |
| $600k-1MM | 27 | $18,975,000 | $702,778 | $8,694 | 3.17% |
| $1MM+ | 2 | $2,090,000 | $1,045,000 | $7,389 | 3.25% |
2021 saw Avadian place emphasis on $200k-400k loans with 379 originations, totaling $107,765,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 224 | $40,040,000 | $178,750 | $3,103 | 2.83% |
| $100k-150k | 212 | $59,520,000 | $280,755 | $3,652 | 2.85% |
| $75k-100k | 178 | $40,880,000 | $229,663 | $3,366 | 2.84% |
| $150k-250k | 155 | $55,635,000 | $358,935 | $4,347 | 2.89% |
| $50k-75k | 154 | $27,420,000 | $178,052 | $2,725 | 2.90% |
| $250k+ | 60 | $25,490,000 | $424,833 | $4,413 | 3.12% |
Avadian lent most frequently to those with incomes in the $50k or less range, with 224 originations. The second most popular income band? $100k-150k, with 212 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 300 | $75,120,000 | $250,400 | $3,323 | 2.88% |
| <20% | 144 | $33,210,000 | $230,625 | $2,925 | 2.75% |
| 30-36% | 144 | $37,050,000 | $257,292 | $3,719 | 3.00% |
| 41% | 30 | $7,390,000 | $246,333 | $2,994 | 2.91% |
| 37% | 29 | $8,895,000 | $306,724 | $4,172 | 2.90% |
| 39% | 28 | $7,830,000 | $279,643 | $4,625 | 2.69% |
| 40% | 26 | $7,570,000 | $291,154 | $3,702 | 3.02% |
| 38% | 24 | $6,570,000 | $273,750 | $3,811 | 2.99% |
| 36% | 24 | $6,310,000 | $262,917 | $3,096 | 2.77% |
| 42% | 21 | $5,985,000 | $285,000 | $4,130 | 3.09% |
| 43% | 21 | $4,715,000 | $224,524 | $3,507 | 2.89% |
| 46% | 21 | $5,445,000 | $259,286 | $4,230 | 2.83% |
| 44% | 20 | $4,250,000 | $212,500 | $3,055 | 2.85% |
| 49% | 18 | $4,960,000 | $275,556 | $3,802 | 2.70% |
| 48% | 10 | $1,750,000 | $175,000 | $2,613 | 2.75% |
| 45% | 8 | $1,920,000 | $240,000 | $3,658 | 2.75% |
| 47% | 8 | $1,740,000 | $217,500 | $3,253 | 3.25% |
| 50-60% | 6 | $2,300,000 | $383,333 | $8,141 | 2.90% |
| >60% | 3 | $355,000 | $118,333 | $1,909 | 3.54% |
Avadian lent most frequently to those with DTI ratios of 20-30%, with 300 originations. The next most common DTI ratio? <20%, with 144 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 769 | $191,095,000 | $248,498 | $3,423 | 2.88% |
| Black | 129 | $32,845,000 | $254,612 | $3,915 | 2.92% |
| Asian | 70 | $20,740,000 | $296,286 | $2,898 | 2.72% |
| Not provided | 7 | $2,945,000 | $420,714 | $7,595 | 3.00% |
| American Indian | 9 | $1,935,000 | $215,000 | $4,313 | 2.96% |
| Native Hawaiian | 2 | $300,000 | $150,000 | $2,167 | 3.00% |
Approval Rates
Total approvals of all applications94.25%
Avadian has an average approval rate.
Pick Rate
Approvals leading to origination81.91%
Avadian has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 986 | $249,860,000 | $253,408 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 986 | $249,860,000 | $253,408 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 45 | $6,515,000 | $144,778 | $2,258 | 2.99% |
| 40-60% | 135 | $25,035,000 | $185,444 | $2,793 | 2.67% |
| 60-80% | 423 | $107,595,000 | $254,362 | $3,261 | 2.86% |
| 80-100% | 373 | $108,275,000 | $290,282 | $4,003 | 2.93% |
| Over 100% | 4 | $2,020,000 | $505,000 | $19,833 | 2.38% |
| Under 20% | 6 | $420,000 | $70,000 | $1,022 | 4.60% |
