Gogo Funding Mortgage Rates, Fees & Info
Diamond Bar, CALEI: 549300FNKIROQ43G1V14
Tax ID: 26-4255813
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Mortgage Data
Review & Overview
Gogo Funding is a smaller mortgage company specializing in NA loans. Gogo Funding has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, and San Jose among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Gogo Funding has an above average approval rate when compared to the average across all lenders.
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Originations
56Origination Dollar Volume (All Markets)
$34,440,000Top 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) | 44 | $30,050,000 | $682,955 | $0 | 8.34% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $1,795,000 | $256,429 | $0 | 8.28% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $1,565,000 | $521,667 | $0 | 7.32% |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $0 | 8.49% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 56 | $34,440,000 | $615,000 | $0 | 8.28% |
For 2018, Gogo Funding's most frequently originated type of loan was Conventional, with 56 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
NA | 56 | $34,440,000 | $615,000 | $0 | 8.28% |
For 2018, Gogo Funding's most frequently cited loan purpose was NA, with 56 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 55 | $31,135,000 | $566,091 | $0 | 8.29% |
1 Year | 1 | $3,305,000 | $3,305,000 | $0 | 7.99% |
For 2018, Gogo Funding's most frequently cited loan duration was Other, with 55 originations. The 2nd most popular length was 1 Year, with 1 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
7-8% | 27 | $17,365,000 | $643,148 |
Over 8% | 22 | $12,530,000 | $569,545 |
6-7% | 7 | $4,545,000 | $649,286 |
During 2018, Gogo Funding's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 27 originations.
Loan Sizing
2018 saw Gogo Funding place emphasis on $200k-400k loans with 17 originations, totaling $4,405,000 in origination value.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Asian | 55 | $34,285,000 | $623,364 | $0 | 8.27% |
White | 1 | $155,000 | $155,000 | $0 | 8.99% |
Approval Rates
Total approvals of all applications100.00%
Gogo Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 56 | $34,440,000 | $615,000 |