New Wave Lending Group Inc Mortgage Rates, Fees & InfoIndustry, CA
Tax ID: 82-1456336
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewNew Wave Lending Group Inc is a mid-sized mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. New Wave Lending Group Inc has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, San Jose, and San Diego among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)
New Wave Lending Group Inc has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. New Wave Lending Group Inc is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||3/19/23|
|30 Year Conventional Purchase||6.50%||3/19/23|
|30 Year Conventional Refi||6.40%||3/19/23|
|30 Year Cash-out Refi||6.54%||3/19/23|
|30 Year FHA Purchase||7.24%||3/19/23|
|30 Year FHA Refi||7.06%||3/19/23|
|15 Year Conventional Purchase||6.09%||3/19/23|
|15 Year Conventional Refi||5.88%||3/19/23|
|15 Year Cash-out Refi||5.88%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$3,051,315,000
New Wave Lending Group Inc's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
New Wave Lending Group Inc's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,358.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||4,195||$2,012,075,000||$479,636||$5,135||2.93%|
|Outside of Metro Areas||880||$442,880,000||$503,273||$5,745||3.04%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||742||$269,020,000||$362,561||$4,728||3.06%|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||170||$89,460,000||$526,235||$4,546||2.96%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||163||$81,725,000||$501,380||$3,941||3.00%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||145||$64,395,000||$444,103||$4,843||2.95%|
|OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA)||75||$32,465,000||$432,867||$3,491||2.87%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||77||$25,925,000||$336,688||$3,511||3.03%|
|BAKERSFIELD, CA (FHA|USDA|VA)||29||$8,105,000||$279,483||$4,914||3.15%|
|STOCKTON, CA (FHA|USDA|VA)||10||$3,710,000||$371,000||$5,416||3.31%|
|SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA)||9||$3,615,000||$401,667||$3,749||3.10%|
|FRESNO, CA (FHA|USDA|VA)||11||$2,575,000||$234,091||$4,093||3.14%|
|SANTA ROSA-PETALUMA, CA (FHA|USDA|VA)||5||$2,495,000||$499,000||$5,458||3.03%|
|VALLEJO, CA (FHA|USDA|VA)||6||$2,410,000||$401,667||$5,259||3.15%|
|SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA)||3||$1,515,000||$505,000||$6,720||2.92%|
|CHICO, CA (FHA|USDA|VA)||4||$1,370,000||$342,500||$4,519||2.97%|
|MODESTO, CA (FHA|USDA|VA)||4||$1,270,000||$317,500||$3,928||3.16%|
|SALINAS, CA (FHA|USDA|VA)||3||$1,225,000||$408,333||$3,554||3.00%|
|SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA)||2||$1,110,000||$555,000||$0||3.00%|
|MERCED, CA (FHA|USDA|VA)||4||$970,000||$242,500||$4,024||2.97%|
|MADERA, CA (FHA|USDA|VA)||5||$735,000||$147,000||$4,678||3.35%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||2||$700,000||$350,000||$8,476||2.56%|
|VISALIA, CA (FHA|USDA|VA)||2||$470,000||$235,000||$3,597||2.69%|
|Crescent City, CA (FHA|USDA|VA)||1||$405,000||$405,000||$4,667||3.25%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||1||$395,000||$395,000||$5,180||2.88%|
|HANFORD-CORCORAN, CA (FHA|USDA|VA)||1||$295,000||$295,000||$3,405||2.88%|
We use machine learning to identify the top lenders compared against NEW WAVE LENDING GROUP INC based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, New Wave Lending Group Inc's most frequently originated type of loan was Conventional, with 6,545 originations. Their 2nd most popular type was FHA, with 3 originations.
For 2021, New Wave Lending Group Inc's most frequently cited loan purpose was Refi, with 3,515 originations. The 2nd most popular reason was Home Purchase, with 1,620 originations.
For 2021, New Wave Lending Group Inc's most frequently cited loan duration was 30 Year, with 5,443 originations. The 2nd most popular length was 15 Year, with 737 originations.
Origination Fees/Closing Costs
New Wave Lending Group Inc's average total fees were $5,358, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,540 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, New Wave Lending Group Inc's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3,420 originations.
2021 saw New Wave Lending Group Inc place emphasis on $400k-600k loans with 2,530 originations, totaling $1,244,220,000 in origination value.
New Wave Lending Group Inc lent most frequently to those with incomes in the $100k-150k range, with 1,949 originations. The second most popular income band? $150k-250k, with 1,500 originations.
Applicant Debt to Income Ratio
New Wave Lending Group Inc lent most frequently to those with DTI ratios of 30-36%, with 1,037 originations. The next most common DTI ratio? 20-30%, with 920 originations.
Approval RatesTotal approvals of all applications
New Wave Lending Group Inc has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
New Wave Lending Group Inc has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
|Points||Originations||Total Value||Average Loan|
Occupancy Type Mix
|Dwelling Type||Originations||Total Value||Average Loan|