Power Mortgage Rates, Fees & Info
Pueblo, COLEI: 549300JD2HS86SAFVA88
Tax ID: 84-0160254
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Mortgage Data
Review & Overview
Power is a smaller mortgage company specializing in Cash Out Refi loans. Power has a high proportion of conventional loans.Power has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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. | ||
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Originations
13Origination Dollar Volume (All Markets)
$565,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 13 | $565,000 | $43,462 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 13 | $565,000 | $43,462 | $0 | 0.00% |
For 2018, Power's most frequently originated type of loan was Conventional, with 13 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 13 | $565,000 | $43,462 | $0 | 0.00% |
For 2018, Power's most frequently cited loan purpose was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 13 | $565,000 | $43,462 | $0 | 0.00% |
For 2018, Power's most frequently cited loan duration was Other, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 13 | $565,000 | $43,462 |
Power's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 13 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 12 | $430,000 | $35,833 | $0 | 0.00% |
| $100k-200k | 1 | $135,000 | $135,000 | $0 | 0.00% |
2018 saw Power place emphasis on $100,000 or less loans with 12 originations, totaling $430,000 in origination value.
Applicant Income
Power lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $75k-100k, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 8 | $380,000 | $47,500 | $0 | 0.00% |
| Not provided | 5 | $185,000 | $37,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Power 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 |
|---|---|---|---|
| 0.0 | 13 | $565,000 | $43,462 |