Argent Mortgage Rates, Fees & Info
Chester, VALEI: 549300GBD8RBYHSIS855
Tax ID: 54-0623641
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Mortgage Data
Review & Overview
Argent is a smaller mortgage company specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Argent has a high proportion of conventional loans. Argent has a low ratio of conventional loans. Their top (well, only) market is Richmond.Argent has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
65Origination Dollar Volume (All Markets)
$6,315,000Top 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 |
|---|---|---|---|---|---|
| RICHMOND, VA (FHA|USDA|VA) | 64 | $6,260,000 | $97,813 | $200 | 3.80% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 64 | $6,280,000 | $98,125 | $0 | 0.00% |
| Conventional | 1 | $35,000 | $35,000 | $200 | 3.80% |
For 2018, Argent's most frequently originated type of loan was Conventional, with 64 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2018, Argent's most frequently cited loan purpose was Home Improvement, with 27 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 64 | $6,280,000 | $98,125 | $0 | 0.00% |
| 10 Year | 1 | $35,000 | $35,000 | $200 | 3.80% |
For 2018, Argent's most frequently cited loan duration was Other, with 64 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $35,000 | $35,000 |
Argent's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $35,000 | $35,000 |
During 2018, Argent's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
2018 saw Argent place emphasis on $100,000 or less loans with 40 originations, totaling $2,070,000 in origination value.
Applicant Income
Argent lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 64 | $6,280,000 | $98,125 | $0 | 0.00% |
| 20-30% | 1 | $35,000 | $35,000 | $200 | 3.80% |
Argent lent most frequently to those with DTI ratios of Exempt%, with 64 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.15%
Argent has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination70.77%
Argent has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 64 | $6,280,000 | $98,125 |
| NA | 1 | $35,000 | $35,000 |