Avadian Mortgage Rates, Fees & Info

Hoover, AL

LEI: 549300FGGERPRKXH7V65

Tax ID: 63-0207315

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

986

Origination Dollar Volume (All Markets)

$249,860,000
Show all (9) awards

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 applications
94.25%

Avadian has an average approval rate.

Pick Rate

Approvals leading to origination
81.91%

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%