New Wave Lending Group Inc Mortgage Rates, Fees & InfoIndustry, CA
Tax ID: 82-1456336
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewNew Wave Lending Group Inc is a small mortgage company specializing in Home Purchase and Cash Out Refi loans. New Wave Lending Group Inc has a high proportion of conventional loans. New Wave Lending Group Inc has a low ratio of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, San Jose, and Sacramento among others. We have data for 47 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 a high 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||9/25/23|
|30 Year Conventional Purchase||6.85%||9/25/23|
|30 Year Conventional Refi||6.53%||9/25/23|
|30 Year Cash-out Refi||6.86%||9/25/23|
|30 Year FHA Purchase||6.27%||9/25/23|
|15 Year Conventional Purchase||6.03%||9/25/23|
|15 Year Conventional Refi||5.86%||9/25/23|
|15 Year Cash-out Refi||5.86%||9/25/23|
|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.|
New Wave Lending Group Inc Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from New Wave Lending Group Inc. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$1,283,295,000
NEW WAVE LENDING GROUP INC - 2022
NEW WAVE LENDING GROUP INC is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for NEW WAVE LENDING GROUP INC?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
New Wave Lending Group Inc's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.19%.
Relative Fees (Closing Costs)
New Wave Lending Group Inc's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,513.
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)||1,275||$754,985,000||$592,145||$9,301||4.67%|
|Outside of Metro Areas||294||$169,200,000||$575,510||$9,777||4.77%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||293||$126,045,000||$430,188||$7,459||4.93%|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||131||$95,565,000||$729,504||$11,918||5.35%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||44||$27,610,000||$627,500||$7,010||4.61%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||64||$27,120,000||$423,750||$8,716||5.39%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||36||$20,900,000||$580,556||$7,855||4.40%|
|OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA)||20||$11,350,000||$567,500||$8,415||4.75%|
|Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)||11||$6,305,000||$573,182||$6,340||5.16%|
|BAKERSFIELD, CA (FHA|USDA|VA)||18||$4,730,000||$262,778||$7,276||5.38%|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||10||$4,560,000||$456,000||$13,718||6.90%|
|PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)||8||$3,050,000||$381,250||$7,458||5.32%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||4||$2,660,000||$665,000||$14,245||6.75%|
|FRESNO, CA (FHA|USDA|VA)||3||$2,145,000||$715,000||$19,343||6.21%|
|BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)||7||$2,015,000||$287,857||$11,516||7.16%|
|VALLEJO, CA (FHA|USDA|VA)||4||$2,000,000||$500,000||$4,089||5.63%|
|SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA)||2||$1,980,000||$990,000||$11,031||5.94%|
|VISALIA, CA (FHA|USDA|VA)||5||$1,505,000||$301,000||$7,083||5.45%|
|STOCKTON, CA (FHA|USDA|VA)||4||$1,420,000||$355,000||$9,928||5.34%|
|SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA)||2||$1,350,000||$675,000||$4,787||3.25%|
|MODESTO, CA (FHA|USDA|VA)||3||$1,335,000||$445,000||$5,310||5.63%|
|SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA)||3||$1,265,000||$421,667||$5,859||5.08%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||5||$1,195,000||$239,000||$7,492||6.88%|
|ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)||2||$940,000||$470,000||$13,249||7.56%|
|VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)||3||$895,000||$298,333||$18,513||6.92%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||2||$890,000||$445,000||$15,486||4.88%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||2||$870,000||$435,000||$7,371||6.00%|
|HANFORD-CORCORAN, CA (FHA|USDA|VA)||2||$850,000||$425,000||$6,028||5.19%|
|SALINAS, CA (FHA|USDA|VA)||1||$775,000||$775,000||$14,142||4.50%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||2||$750,000||$375,000||$14,216||5.94%|
|REDDING, CA (FHA|USDA|VA)||2||$710,000||$355,000||$4,244||4.50%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||1||$705,000||$705,000||$0||8.63%|
|NAPA, CA (FHA|USDA|VA)||1||$665,000||$665,000||$0||4.00%|
|Hilo, HI (FHA|USDA|VA)||1||$645,000||$645,000||$14,550||5.50%|
|MERCED, CA (FHA|USDA|VA)||2||$540,000||$270,000||$6,991||5.75%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||2||$500,000||$250,000||$10,880||7.63%|
|MADERA, CA (FHA|USDA|VA)||2||$420,000||$210,000||$6,627||6.44%|
|Eureka-Arcata, CA (FHA|USDA|VA)||1||$415,000||$415,000||$5,437||4.25%|
|YUBA CITY, CA (FHA|USDA|VA)||1||$375,000||$375,000||$4,600||6.88%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$355,000||$355,000||$4,968||7.50%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||1||$315,000||$315,000||$13,666||6.75%|
|CHICO, CA (FHA|USDA|VA)||1||$275,000||$275,000||$16,013||8.00%|
|RICHMOND, VA (FHA|USDA|VA)||1||$265,000||$265,000||$9,533||6.38%|
|SAVANNAH, GA (FHA|USDA|VA)||1||$265,000||$265,000||$8,766||10.63%|
|Crescent City, CA (FHA|USDA|VA)||1||$235,000||$235,000||$0||6.25%|
|OCALA, FL (FHA|USDA|VA)||1||$185,000||$185,000||$8,538||6.88%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||1||$165,000||$165,000||$9,577||5.88%|
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.
Similarity Rank: 316
Similarity Rank: 390
Similarity Rank: 393
Similarity Rank: 518
Similarity Rank: 546
Similarity Rank: 567
Similarity Rank: 644
Similarity Rank: 660
Similarity Rank: 770
Similarity Rank: 940
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, New Wave Lending Group Inc's most frequently originated type of loan was Conventional, with 2,280 originations. Their 2nd most popular type was Conventional, with 1 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||557||$291,205,000||$522,810||$7,899||4.55%|
For 2022, New Wave Lending Group Inc's most frequently cited loan purpose was Home Purchase, with 1,382 originations. The 2nd most popular reason was Cash Out Refi, with 557 originations.
For 2022, New Wave Lending Group Inc's most frequently cited loan duration was 30 Year, with 2,099 originations. The 2nd most popular length was 15 Year, with 127 originations.
Origination Fees/Closing Costs
New Wave Lending Group Inc's average total fees were $9,513, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 767 originations.
During 2022, New Wave Lending Group Inc's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 3-4%, with 673 originations.
2022 saw New Wave Lending Group Inc place emphasis on $400k-600k loans with 824 originations, totaling $408,850,000 in origination value.
New Wave Lending Group Inc lent most frequently to those with incomes in the $150k-250k range, with 673 originations. The second most popular income band? $100k-150k, with 670 originations.
Applicant Debt to Income Ratio
New Wave Lending Group Inc lent most frequently to those with DTI ratios of 30-36%, with 257 originations. The next most common DTI ratio? 49%, with 228 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|