New Wave Lending Group Inc Mortgage Rates, Fees & Info
Industry, CALEI: 549300OPB0G5OMY0SM65
Tax ID: 82-1456336
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Mortgage Data
Review & Overview
New Wave Lending Group Inc is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. New Wave Lending Group Inc has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Jose, and San Diego among others. We have data for 13 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.85% | 4/21/24 |
| 30 Year Conventional Refi | 6.53% | 4/21/24 |
| 30 Year Cash-out Refi | 6.86% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.03% | 4/21/24 |
| 15 Year Conventional Refi | 5.86% | 4/21/24 |
| 15 Year Cash-out Refi | 5.86% | 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. | ||
New Wave Lending Group Inc Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
334Origination Dollar Volume (All Markets)
$123,880,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 216 | $84,540,000 | $391,389 | $5,060 | 4.79% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 74 | $22,410,000 | $302,838 | $4,549 | 4.96% |
| Outside of Metro Areas | 17 | $7,325,000 | $430,882 | $5,237 | 4.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 10 | $3,410,000 | $341,000 | $4,436 | 4.69% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 3 | $1,535,000 | $511,667 | $4,681 | 4.67% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $3,593 | 4.42% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $7,036 | 5.06% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $4,499 | 5.06% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,692 | 4.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,685 | 5.19% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,845 | 3.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,739 | 4.63% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,884 | 4.75% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 334 | $123,880,000 | $370,898 | $4,908 | 4.82% |
For 2018, New Wave Lending Group Inc's most frequently originated type of loan was Conventional, with 334 originations.
Loan Reason
For 2018, New Wave Lending Group Inc's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 86 originations.
Loan Duration/Length
For 2018, New Wave Lending Group Inc's most frequently cited loan duration was 30 Year, with 306 originations. The 2nd most popular length was 15 Year, with 22 originations.
Origination Fees/Closing Costs
New Wave Lending Group Inc's average total fees were $5,015, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 234 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 249 | $91,515,000 | $367,530 |
| 5-6% | 67 | $26,605,000 | $397,090 |
| 3-4% | 11 | $3,475,000 | $315,909 |
| 6-7% | 7 | $2,285,000 | $326,429 |
During 2018, New Wave Lending Group Inc's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 249 originations.
Loan Sizing
2018 saw New Wave Lending Group Inc place emphasis on $200k-400k loans with 183 originations, totaling $56,515,000 in origination value.
Applicant Income
New Wave Lending Group Inc lent most frequently to those with incomes in the $100k-150k range, with 86 originations. The second most popular income band? $50k-75k, with 80 originations.
Applicant Debt to Income Ratio
New Wave Lending Group Inc lent most frequently to those with DTI ratios of 49%, with 40 originations. The next most common DTI ratio? 30-36%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.33%
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 origination65.87%
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 |
|---|---|---|---|
| NA | 334 | $123,880,000 | $370,898 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 334 | $123,880,000 | $370,898 |