New Wave Lending Group Inc Mortgage Rates, Fees & Info

Industry, CA

LEI: 549300OPB0G5OMY0SM65

Tax ID: 82-1456336

1 stars - Updated: 7/20/24 - out of 5 stars, based on 40 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

New Wave Lending Group Inc is a smaller mortgage company specializing in Home Purchase 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, Atlanta, and San Jose among others. We have data for 85 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 relatively high 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 7/20/24
30 Year Conventional Purchase 6.85% 7/20/24
30 Year Conventional Refi 6.53% 7/20/24
30 Year Cash-out Refi 6.86% 7/20/24
30 Year FHA Purchase 6.27% 7/20/24
15 Year Conventional Purchase 6.03% 7/20/24
15 Year Conventional Refi 5.86% 7/20/24
15 Year Cash-out Refi 5.86% 7/20/24
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.

New Wave Lending Group Inc Mortgage Calculator






Your Estimates

Estimated 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.


Originations

1,637

Origination Dollar Volume (All Markets)

$917,215,000

Relative Rate

New Wave Lending Group Inc's average 30 year fixed mortgage rate was 7.61%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.13%.

Relative Fees (Closing Costs)

New Wave Lending Group Inc's average total fees/closing costs for a 30 year fixed rate mortgage were $12,391.

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 $9,089.

Top 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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 671 $454,275,000 $677,012 $13,224 7.37%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 166 $82,590,000 $497,530 $11,567 7.45%
Outside of Metro Areas 139 $70,595,000 $507,878 $11,946 7.81%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 90 $65,660,000 $729,556 $13,072 7.61%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 114 $43,600,000 $382,456 $9,950 7.95%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 30 $24,810,000 $827,000 $10,183 7.38%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 51 $20,255,000 $397,157 $8,131 7.33%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 23 $13,775,000 $598,913 $10,819 7.46%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 23 $12,265,000 $533,261 $13,245 8.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 21 $10,025,000 $477,381 $17,139 8.09%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 22 $9,990,000 $454,091 $13,333 7.73%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 26 $9,400,000 $361,538 $11,508 8.19%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 24 $9,030,000 $376,250 $15,890 8.02%
BAKERSFIELD, CA (FHA|USDA|VA) 20 $7,250,000 $362,500 $8,765 7.29%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $7,195,000 $342,619 $14,117 7.79%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 19 $6,995,000 $368,158 $12,040 8.20%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $6,520,000 $652,000 $10,086 6.78%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 10 $3,850,000 $385,000 $14,377 7.81%
SAVANNAH, GA (FHA|USDA|VA) 12 $3,580,000 $298,333 $8,621 9.01%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $3,550,000 $591,667 $8,327 6.58%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 11 $3,255,000 $295,909 $11,839 7.61%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $3,150,000 $525,000 $15,494 7.75%
FRESNO, CA (FHA|USDA|VA) 6 $2,880,000 $480,000 $10,986 6.69%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 5 $2,505,000 $501,000 $11,025 7.85%
SALINAS, CA (FHA|USDA|VA) 3 $2,395,000 $798,333 $19,496 7.63%
MODESTO, CA (FHA|USDA|VA) 5 $2,285,000 $457,000 $7,434 7.85%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $2,225,000 $445,000 $8,453 8.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $1,895,000 $270,714 $12,278 7.80%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $1,825,000 $1,825,000 $48,744 9.00%
VALLEJO, CA (FHA|USDA|VA) 4 $1,740,000 $435,000 $10,946 7.47%
VISALIA, CA (FHA|USDA|VA) 5 $1,635,000 $327,000 $8,360 7.50%
RENO, NV (FHA|USDA|VA) 3 $1,635,000 $545,000 $16,128 7.88%
Jefferson, GA (FHA|USDA|VA) 5 $1,455,000 $291,000 $9,333 8.20%
Cañon City, CO (FHA|USDA|VA) 1 $1,275,000 $1,275,000 $22,205 7.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,265,000 $421,667 $12,274 7.42%
GAINESVILLE, GA (FHA|USDA|VA) 4 $1,170,000 $292,500 $7,390 8.22%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $1,000,000 $250,000 $8,855 8.03%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $970,000 $485,000 $4,998 8.06%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $905,000 $905,000 $0 7.50%
STOCKTON, CA (FHA|USDA|VA) 3 $905,000 $301,667 $8,685 8.21%
Glenwood Springs, CO (FHA|USDA|VA) 1 $645,000 $645,000 $0 8.75%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $635,000 $635,000 $6,611 7.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $600,000 $300,000 $12,097 7.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $595,000 $595,000 $0 7.38%
MIDLAND, TX (FHA|USDA|VA) 2 $570,000 $285,000 $8,365 9.06%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $570,000 $285,000 $0 8.44%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $515,000 $515,000 $15,488 8.50%
MONTGOMERY, AL (FHA|USDA|VA) 1 $485,000 $485,000 $0 8.75%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $470,000 $235,000 $9,504 8.44%
OCALA, FL (FHA|USDA|VA) 2 $470,000 $235,000 $10,391 7.88%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $465,000 $465,000 $11,064 7.75%
MADERA, CA (FHA|USDA|VA) 2 $460,000 $230,000 $6,937 7.19%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $440,000 $220,000 $11,362 7.94%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $435,000 $435,000 $6,314 7.00%
RICHMOND, VA (FHA|USDA|VA) 2 $430,000 $215,000 $7,037 8.44%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $415,000 $415,000 $0 7.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $395,000 $395,000 $8,426 8.25%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $12,791 8.00%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $390,000 $195,000 $0 8.50%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $345,000 $345,000 $0 7.88%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $345,000 $345,000 $11,970 7.88%
COLUMBUS, OH (FHA|USDA|VA) 2 $320,000 $160,000 $0 8.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $315,000 $315,000 $17,530 7.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $305,000 $305,000 $11,269 9.50%
BEND, OR (FHA|USDA|VA) 1 $305,000 $305,000 $7,785 7.63%
TYLER, TX (FHA|USDA|VA) 1 $295,000 $295,000 $0 8.13%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $285,000 $285,000 $11,701 9.13%
REDDING, CA (FHA|USDA|VA) 1 $285,000 $285,000 $4,576 9.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 7.63%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $265,000 $265,000 $11,705 7.50%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $265,000 $265,000 $0 7.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $7,573 5.63%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $245,000 $245,000 $11,231 7.63%
WACO, TX (FHA|USDA|VA) 1 $235,000 $235,000 $7,034 8.38%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $225,000 $225,000 $7,488 8.75%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $205,000 $205,000 $6,456 8.00%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $185,000 $185,000 $0 8.00%
Kingsville, TX (FHA|USDA|VA) 1 $185,000 $185,000 $7,919 8.13%
Sonora, CA (FHA|USDA|VA) 1 $165,000 $165,000 $3,947 7.63%
DuBois, PA (FHA|USDA|VA) 1 $165,000 $165,000 $9,307 8.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $165,000 $165,000 $7,005 7.38%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.13%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.50%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.88%
KNOXVILLE, TN (FHA|USDA|VA) 1 $155,000 $155,000 $6,782 9.00%
New Wave Lending Group Inc's top markets include Los Angeles, Riverside, San Francisco, Atlanta, and San Jose among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    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.

    SAFE 1 CREDIT UNION
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    AltaOne Federal Credit Union
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    VALLEY STRONG CREDIT UNION
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    SAN DIEGO COUNTY CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,618 $906,600,000 $560,321 $12,125 7.59%
    FHA 19 $10,615,000 $558,684 $21,373 6.93%

    For 2023, New Wave Lending Group Inc's most frequently originated type of loan was Conventional, with 1,618 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,389 $780,565,000 $561,962 $12,358 7.55%
    Cash Out Refi 165 $89,825,000 $544,394 $12,773 7.88%
    Refi 83 $46,825,000 $564,157 $10,222 7.59%

    For 2023, New Wave Lending Group Inc's most frequently cited loan purpose was Home Purchase, with 1,389 originations. The 2nd most popular reason was Cash Out Refi, with 165 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,607 $906,295,000 $563,967 $12,391 7.61%
    15 Year 22 $7,320,000 $332,727 $6,178 6.06%
    20 Year 4 $1,190,000 $297,500 $5,093 6.38%
    30+ year 2 $1,850,000 $925,000 $18,900 8.38%
    10 Year 1 $105,000 $105,000 $2,410 5.63%
    Other 1 $455,000 $455,000 $0 0.00%

    For 2023, New Wave Lending Group Inc's most frequently cited loan duration was 30 Year, with 1,607 originations. The 2nd most popular length was 15 Year, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 712 $441,490,000 $620,070
    $1k-2k 192 $108,110,000 $563,073
    $2k-3k 156 $89,810,000 $575,705
    $3k-4k 64 $29,890,000 $467,031
    $4k-5k 54 $24,010,000 $444,630

    New Wave Lending Group Inc's average total fees were $12,391, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 712 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 615 $346,175,000 $562,886
    Over 8% 502 $288,980,000 $575,657
    6-7% 387 $217,685,000 $562,494
    5-6% 127 $61,925,000 $487,598
    4-5% 3 $1,405,000 $468,333

    During 2023, New Wave Lending Group Inc's average interest rate for loans was 7.61%, while their most frequently originated rate bucket for loans was 7-8%, with 615 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 512 $157,070,000 $306,777 $9,428 7.68%
    $400k-600k 485 $239,065,000 $492,918 $10,484 7.47%
    $600k-1MM 423 $310,245,000 $733,440 $14,364 7.42%
    $1MM+ 144 $198,920,000 $1,381,389 $21,791 7.98%
    $100k-200k 73 $11,915,000 $163,219 $7,304 7.85%

    2023 saw New Wave Lending Group Inc place emphasis on $200k-400k loans with 512 originations, totaling $157,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 475 $270,965,000 $570,453 $12,043 7.37%
    $250k+ 423 $369,955,000 $874,598 $16,019 7.82%
    $100k-150k 341 $147,685,000 $433,094 $9,704 7.28%
    $50k or less 198 $66,690,000 $336,818 $12,009 8.46%
    $75k-100k 146 $46,380,000 $317,671 $8,884 7.28%
    $50k-75k 51 $12,365,000 $242,451 $8,572 7.00%

    New Wave Lending Group Inc lent most frequently to those with incomes in the $150k-250k range, with 475 originations. The second most popular income band? $250k+, with 423 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 238 $91,050,000 $382,563 $12,535 8.31%
    30-36% 185 $104,765,000 $566,297 $11,433 7.49%
    49% 138 $78,490,000 $568,768 $11,807 7.16%
    20-30% 130 $70,280,000 $540,615 $11,972 7.37%
    48% 106 $60,490,000 $570,660 $10,079 7.42%
    44% 95 $63,075,000 $663,947 $13,930 7.61%
    46% 94 $57,440,000 $611,064 $12,962 7.36%
    45% 86 $53,840,000 $626,047 $12,840 7.54%
    47% 83 $50,555,000 $609,096 $12,716 7.49%
    42% 71 $45,995,000 $647,817 $13,319 7.65%
    43% 70 $45,230,000 $646,143 $13,230 7.50%
    40% 63 $34,125,000 $541,667 $10,433 7.63%
    41% 62 $36,200,000 $583,871 $11,810 7.57%
    38% 61 $35,265,000 $578,115 $12,478 7.33%
    37% 45 $28,115,000 $624,778 $12,745 7.63%
    39% 40 $23,810,000 $595,250 $11,974 7.53%
    36% 40 $21,280,000 $532,000 $12,400 7.52%
    50-60% 19 $10,215,000 $537,632 $17,317 6.97%
    >60% 2 $1,180,000 $590,000 $11,173 7.06%

    New Wave Lending Group Inc lent most frequently to those with DTI ratios of <20%, with 238 originations. The next most common DTI ratio? 30-36%, with 185 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 976 $548,920,000 $562,418 $12,416 7.72%
    Asian 540 $289,980,000 $537,000 $11,221 7.37%
    White 111 $72,265,000 $651,036 $16,015 7.39%
    Black 6 $3,190,000 $531,667 $10,840 7.88%
    Korean 2 $1,100,000 $550,000 $0 7.38%
    1 $1,005,000 $1,005,000 $0 7.38%
    Other Asian 1 $755,000 $755,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    99.56%

    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 Rate

    Approvals leading to origination
    50.52%

    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
    10425.0 1 $725,000 $725,000
    12702.0 1 $175,000 $175,000
    15237.0 1 $215,000 $215,000
    20109.38 1 $255,000 $255,000
    26864.38 1 $335,000 $335,000
    27620.0 1 $405,000 $405,000
    32455.0 1 $425,000 $425,000
    3580.0 1 $265,000 $265,000
    NA 1,629 $914,415,000 $561,335

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,637 $917,215,000 $560,302

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 101 $36,025,000 $356,683 $9,105 7.22%
    40-60% 273 $136,815,000 $501,154 $10,061 7.29%
    60-80% 946 $546,000,000 $577,167 $12,850 7.74%
    80-100% 302 $194,820,000 $645,099 $13,536 7.53%
    Under 20% 13 $2,965,000 $228,077 $6,500 6.78%