Googain Mortgage Rates, Fees & Info

SUNNYVALE, CA

LEI: 549300JOD3S8ZGZLHP53

Tax ID: 90-0186134

2020 Data | 2019 Data | 2018 Data


Overview

Googain is a mid-sized mortgage company specializing in Refi loans. Googain has a high proportion of conventional loans. Their top markets include San Jose, Oakland, San Francisco, San Diego, and Sacramento among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Googain is typically a low fee lendor.


Originations

10,034

Origination Dollar Volume (All Markets)

$4,737,260,000

Relative Rate

Googain 's average 30 year fixed rate mortgage was 3.12%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.24%.

Relative Fees

Googain 's average total fees for a 30 year fixed rate mortgage are $2,731.

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 $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 10,034 $4,737,260,000 $472,121 $2,641 3.01%

For the 2020 period, Googain 's most frequently originated loan type was Conventional, with 10,034 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 8,523 $4,001,795,000 $469,529 $2,499 2.99%
Cash Out Refi 972 $432,150,000 $444,599 $2,543 3.14%
Home Purchase 534 $301,270,000 $564,176 $5,107 3.09%
Home Improvement 4 $1,710,000 $427,500 $2,317 2.91%
Other 1 $335,000 $335,000 $2,267 2.50%

For the 2020, Googain 's most frequently cited loan purpose was Refi, with 8,523 originations. The 2nd most popular reason was Cash Out Refi, with 972 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 7,408 $3,662,080,000 $494,341 $2,731 3.12%
15 Year 2,085 $860,885,000 $412,894 $2,390 2.67%
20 Year 361 $149,135,000 $413,116 $2,384 3.00%
10 Year 90 $27,780,000 $308,667 $2,218 2.65%
Other 90 $37,380,000 $415,333 $2,553 3.04%

For the 2020, Googain 's most frequently cited loan length was 30 Year, with 7,408 originations. The 2nd most popular length was 15 Year, with 2,085 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 9,783 $4,570,355,000 $467,173
$2k-3k 130 $78,790,000 $606,077
$3k-4k 79 $52,865,000 $669,177
$5k+ 41 $34,645,000 $845,000
$<1k 1 $605,000 $605,000

$2,731 was Googain 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 9,783 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 3,992 $2,038,350,000 $510,609 $2,601 2.98%
OAKLAND-BERKELEY-LIVERMORE, CA 2,787 $1,290,765,000 $463,138 $2,611 3.00%
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 909 $466,695,000 $513,416 $2,692 2.97%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 734 $330,300,000 $450,000 $2,871 3.02%
SACRAMENTO-ROSEVILLE-FOLSOM, CA 417 $134,505,000 $322,554 $2,524 3.17%
LOS ANGELES-LONG BEACH-GLENDALE, CA 282 $123,380,000 $437,518 $2,784 3.06%
ANAHEIM-SANTA ANA-IRVINE, CA 264 $118,240,000 $447,879 $2,797 3.08%
STOCKTON, CA 231 $84,205,000 $364,524 $2,760 3.19%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 117 $40,475,000 $345,940 $2,689 3.21%
SANTA CRUZ-WATSONVILLE, CA 42 $20,210,000 $481,190 $2,630 3.12%
VALLEJO, CA 53 $18,105,000 $341,604 $2,558 3.19%
SALINAS, CA 33 $11,805,000 $357,727 $2,538 3.26%
SANTA ROSA-PETALUMA, CA 28 $11,620,000 $415,000 $2,665 2.99%
OXNARD-THOUSAND OAKS-VENTURA, CA 28 $11,470,000 $409,643 $2,341 3.06%
SAN RAFAEL, CA 21 $9,535,000 $454,048 $2,327 3.09%
MODESTO, CA 20 $5,050,000 $252,500 $2,444 3.14%
FRESNO, CA 16 $4,610,000 $288,125 $2,502 3.30%
SANTA MARIA-SANTA BARBARA, CA 8 $3,800,000 $475,000 $2,675 3.06%
MERCED, CA 15 $3,105,000 $207,000 $2,373 3.48%
Outside of Metro Areas 10 $2,780,000 $278,000 $2,705 3.13%
NAPA, CA 6 $2,220,000 $370,000 $2,537 3.12%
SAN LUIS OBISPO-PASO ROBLES, CA 6 $2,130,000 $355,000 $2,634 3.25%
MADERA, CA 5 $1,215,000 $243,000 $2,752 3.10%
YUBA CITY, CA 4 $980,000 $245,000 $2,221 3.00%
VISALIA, CA 3 $955,000 $318,333 $2,358 2.54%
CHICO, CA 1 $295,000 $295,000 $2,341 3.13%
REDDING, CA 1 $235,000 $235,000 $4,297 3.75%
BAKERSFIELD, CA 1 $225,000 $225,000 $2,097 3.00%

Googain 's top markets include San Jose, Oakland, San Francisco, San Diego, and Sacramento among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 5,480 $2,627,640,000 $479,496
3-4% 3,450 $1,612,310,000 $467,336
<2.5% 984 $444,220,000 $451,443
4-5% 118 $51,010,000 $432,288
5-6% 2 $2,080,000 $1,040,000

During 2020, Googain 's average interest rate was 3.12%, while their most frequently originated rate bucket was 2.5-3%, with 5,480 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 4,556 $2,221,950,000 $487,698 $2,544 2.96%
$200k-400k 3,424 $1,091,300,000 $318,721 $2,426 3.05%
$600k-1MM 1,679 $1,200,695,000 $715,125 $3,207 3.04%
$100k-200k 222 $38,640,000 $174,054 $2,334 3.18%
$1MM+ 151 $184,485,000 $1,221,755 $4,640 3.12%
$100,000 or less 2 $190,000 $95,000 $2,436 3.38%

2020 saw Googain place emphasis on $400k-600k loans with 4,556 originations, totaling $2,221,950,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 4,688 $2,290,550,000 $488,599 $2,620 2.99%
$100k-150k 2,410 $1,057,920,000 $438,971 $2,581 2.98%
$250k+ 1,846 $1,019,390,000 $552,216 $2,857 3.13%
$75k-100k 682 $248,870,000 $364,912 $2,494 2.96%
$50k-75k 348 $106,820,000 $306,954 $2,522 3.01%
$50k or less 60 $13,710,000 $228,500 $2,527 3.11%

Googain lent most frequently to those with incomes in the $150k-250k range, with 4,688 originations. The second most popular income band? $100k-150k, with 2,410 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,056 $1,432,730,000 $468,825 $2,539 2.93%
30-36% 2,223 $1,101,445,000 $495,477 $2,674 3.01%
<20% 794 $321,540,000 $404,962 $2,387 2.89%
37% 381 $187,775,000 $492,848 $2,798 3.09%
40% 350 $166,860,000 $476,743 $2,719 3.10%
38% 342 $169,090,000 $494,415 $2,723 3.11%
36% 337 $166,615,000 $494,407 $2,729 3.06%
41% 334 $168,300,000 $503,892 $2,826 3.08%
42% 321 $160,385,000 $499,642 $2,879 3.09%
39% 313 $159,405,000 $509,281 $2,749 3.07%
43% 298 $132,710,000 $445,336 $2,625 3.11%
44% 296 $128,950,000 $435,642 $2,731 3.14%
45% 252 $111,640,000 $443,016 $2,721 3.13%
46% 242 $110,240,000 $455,537 $2,802 3.10%
47% 205 $90,925,000 $443,537 $2,723 3.12%
48% 192 $86,410,000 $450,052 $2,745 3.06%
49% 94 $40,750,000 $433,511 $2,776 3.21%
50-60% 3 $1,045,000 $348,333 $2,260 3.41%

Googain lent most frequently to those with DTI ratios of 20-30%, with 3,056 originations. The next most common DTI ratio? 30-36%, with 2,223 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 8,909 $4,202,475,000 $471,711 $2,643 3.02%
White 600 $285,420,000 $475,700 $2,572 3.01%
Not provided 476 $225,650,000 $474,055 $2,714 2.96%
Black 16 $8,000,000 $500,000 $2,604 3.17%
Chinese 12 $5,860,000 $488,333 $2,664 3.07%
Asian Indian 10 $4,550,000 $455,000 $2,554 2.80%
Native Hawaiian 6 $2,790,000 $465,000 $2,312 3.02%
American Indian 4 $2,050,000 $512,500 $2,532 2.78%
Other Pacific Islander 1 $465,000 $465,000 $2,217 2.88%

Approval Rates

Total approvals of all applications
99.40%

Googain has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
89.20%

Googain has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 10,034 $4,737,260,000 $472,121

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Site-Built 10,034 $4,737,260,000 $472,121

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 2,145 $822,695,000 $383,541 $2,522 2.95%
40-60% 5,058 $2,406,070,000 $475,696 $2,513 2.98%
60-80% 2,526 $1,374,850,000 $544,279 $2,929 3.13%
80-100% 143 $78,195,000 $546,818 $3,892 3.14%
Under 20% 162 $55,450,000 $342,284 $2,648 2.99%