Banc One Mortgage Corporation Rates, Fees & Info
ORANGE, CALEI: 549300OLJQ30ZT21BC55
Tax ID: 47-0996983
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Mortgage Data
Review & Overview
Banc One Mortgage Corporation is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Banc One Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans.Banc One Mortgage Corporation has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.28% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.28% | 4/21/24 |
| 30 Year FHA Purchase | 6.28% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.69% | 4/21/24 |
| 15 Year Cash-out Refi | 5.69% | 4/21/24 |
| 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. | ||
Banc One Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
733Origination Dollar Volume (All Markets)
$303,985,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 733 | $303,985,000 | $414,714 | $0 | 3.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against BANC ONE MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 595 | $247,275,000 | $415,588 | $0 | 3.03% |
| FHA | 131 | $53,775,000 | $410,496 | $0 | 2.86% |
| VA | 7 | $2,935,000 | $419,286 | $0 | 2.82% |
For 2021, Banc One Mortgage Corporation's most frequently originated type of loan was Conventional, with 595 originations. Their 2nd most popular type was FHA, with 131 originations.
Loan Reason
For 2021, Banc One Mortgage Corporation's most frequently cited loan purpose was Refi, with 292 originations. The 2nd most popular reason was Home Purchase, with 245 originations.
Loan Duration/Length
For 2021, Banc One Mortgage Corporation's most frequently cited loan duration was 30 Year, with 667 originations. The 2nd most popular length was 15 Year, with 40 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 729 | $301,405,000 | $413,450 |
| $5k+ | 4 | $2,580,000 | $645,000 |
Banc One Mortgage Corporation's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 729 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 351 | $146,415,000 | $417,137 |
| 3-4% | 297 | $128,025,000 | $431,061 |
| <2.5% | 82 | $28,550,000 | $348,171 |
| 4-5% | 3 | $995,000 | $331,667 |
During 2021, Banc One Mortgage Corporation's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 351 originations.
Loan Sizing
2021 saw Banc One Mortgage Corporation place emphasis on $200k-400k loans with 329 originations, totaling $102,615,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 716 | $297,130,000 | $414,986 | $0 | 3.00% |
| $50k or less | 17 | $6,855,000 | $403,235 | $0 | 2.81% |
Banc One Mortgage Corporation lent most frequently to those with incomes in the $250k+ range, with 716 originations. The second most popular income band? $50k or less, with 17 originations.
Applicant Debt to Income Ratio
Banc One Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 94 originations. The next most common DTI ratio? 20-30%, with 82 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.53%
Banc One Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination99.73%
Banc One Mortgage Corporation has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 68 | $25,070,000 | $368,676 |
| 1070.0 | 1 | $375,000 | $375,000 |
| 1080.0 | 2 | $990,000 | $495,000 |
| 1095.0 | 1 | $185,000 | $185,000 |
| 1310.0 | 1 | $795,000 | $795,000 |
| 1955.0 | 1 | $495,000 | $495,000 |
| 1995.0 | 479 | $200,215,000 | $417,985 |
| 2490.0 | 49 | $20,295,000 | $414,184 |
| 2845.0 | 1 | $825,000 | $825,000 |
| 395.0 | 2 | $820,000 | $410,000 |
| 795.0 | 11 | $4,485,000 | $407,727 |
| 895.0 | 3 | $1,235,000 | $411,667 |
| 90.0 | 1 | $805,000 | $805,000 |
| 995.0 | 113 | $47,395,000 | $419,425 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANC ONE MORTGAGE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |