New Wave Lending Group Inc Mortgage Rates, Fees & Info

Industry, CA

LEI: 549300OPB0G5OMY0SM65

Tax ID: 82-1456336

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    New Wave Lending Group Inc is a smaller mortgage company specializing in Refi and 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, Oxnard, San Francisco, and San Diego among others. We have data for 18 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.

    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% 4/18/24
    30 Year Conventional Purchase 6.85% 4/18/24
    30 Year Conventional Refi 6.53% 4/18/24
    30 Year Cash-out Refi 6.86% 4/18/24
    30 Year FHA Purchase 6.27% 4/18/24
    15 Year Conventional Purchase 6.03% 4/18/24
    15 Year Conventional Refi 5.86% 4/18/24
    15 Year Cash-out Refi 5.86% 4/18/24
    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

    1,597

    Origination Dollar Volume (All Markets)

    $679,925,000

    Awards

    NEW WAVE LENDING GROUP INC 30 Year Conventional Loans silver NEW WAVE LENDING GROUP INC 30 Year Conventional Loans bronze NEW WAVE LENDING GROUP INC 30 Year Conventional Loans bronze
    Show all (3) awards

    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) 1,196 $531,300,000 $444,231 $4,686 4.01%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 229 $77,735,000 $339,454 $4,386 4.15%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 43 $17,725,000 $412,209 $3,672 3.92%
    Outside of Metro Areas 36 $15,370,000 $426,944 $4,894 4.20%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 27 $12,985,000 $480,926 $5,682 3.98%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 23 $9,855,000 $428,478 $4,267 3.80%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 9 $4,945,000 $549,444 $6,430 4.44%
    BAKERSFIELD, CA (FHA|USDA|VA) 11 $2,455,000 $223,182 $5,113 4.40%
    VALLEJO, CA (FHA|USDA|VA) 6 $2,350,000 $391,667 $5,487 4.40%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $1,770,000 $295,000 $3,699 4.10%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $890,000 $445,000 $3,190 3.75%
    STOCKTON, CA (FHA|USDA|VA) 1 $485,000 $485,000 $4,311 4.13%
    VISALIA, CA (FHA|USDA|VA) 2 $480,000 $240,000 $2,617 3.69%
    FRESNO, CA (FHA|USDA|VA) 2 $450,000 $225,000 $3,471 4.69%
    SALINAS, CA (FHA|USDA|VA) 1 $415,000 $415,000 $3,964 4.63%
    NAPA, CA (FHA|USDA|VA) 1 $305,000 $305,000 $3,459 3.88%
    MERCED, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,475 4.63%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $185,000 $185,000 $3,876 3.38%
    New Wave Lending Group Inc's top markets include Los Angeles, Riverside, Oxnard, San Francisco, and San Diego among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • (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.

    MYPOINT Credit Union
    Similarity Rank: 147
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    Christian Community Credit Union
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    LONG BEACH CITY EMPLOYEES Federal Credit Union
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    HERITAGE COMMUNITY CREDIT UNION
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    SAFEAMERICA CREDIT UNION
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    SOUTHLAND CREDIT UNION
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    El Dorado Savings Bank, F.S.B.
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    VALLEY STRONG CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,583 $676,415,000 $427,299 $4,616 4.03%
    HELOC 9 $1,195,000 $132,778 n/a 5.61%
    FHA 4 $1,660,000 $415,000 $11,934 4.13%
    VA 1 $655,000 $655,000 $2,589 3.63%

    For 2019, New Wave Lending Group Inc's most frequently originated type of loan was Conventional, with 1,583 originations. Their 2nd most popular type was HELOC, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 791 $334,235,000 $422,547 $3,583 3.87%
    Home Purchase 487 $215,935,000 $443,398 $6,607 4.18%
    Cash Out Refi 319 $129,755,000 $406,755 $4,274 4.23%

    For 2019, New Wave Lending Group Inc's most frequently cited loan purpose was Refi, with 791 originations. The 2nd most popular reason was Home Purchase, with 487 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,431 $622,985,000 $435,349 $4,745 4.08%
    15 Year 107 $37,805,000 $353,318 $3,718 3.39%
    20 Year 42 $14,560,000 $346,667 $3,471 3.90%
    Other 15 $4,085,000 $272,333 $3,095 4.87%
    10 Year 2 $490,000 $245,000 $3,364 3.31%

    For 2019, New Wave Lending Group Inc's most frequently cited loan duration was 30 Year, with 1,431 originations. The 2nd most popular length was 15 Year, with 107 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,170 $484,840,000 $414,393
    $2k-3k 185 $80,435,000 $434,784
    $5k+ 118 $65,890,000 $558,390
    $4k-5k 54 $21,960,000 $406,667
    $3k-4k 53 $21,425,000 $404,245
    $<1k 2 $740,000 $370,000

    New Wave Lending Group Inc's average total fees were $4,745, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,170 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 979 $409,565,000 $418,350
    4-5% 530 $227,350,000 $428,962
    5-6% 37 $20,525,000 $554,730
    6-7% 27 $14,225,000 $526,852
    2.5-3% 22 $7,990,000 $363,182
    7-8% 2 $270,000 $135,000

    During 2019, New Wave Lending Group Inc's average interest rate for loans was 4.08%, while their most frequently originated rate bucket for loans was 3-4%, with 979 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 706 $336,660,000 $476,856 $4,697 4.00%
    $200k-400k 626 $199,250,000 $318,291 $4,053 3.99%
    $600k-1MM 179 $123,785,000 $691,536 $6,667 4.27%
    $100k-200k 75 $12,115,000 $161,533 $3,689 4.10%
    $100,000 or less 6 $450,000 $75,000 $3,109 5.29%
    $1MM+ 5 $7,665,000 $1,533,000 $10,726 5.15%

    2019 saw New Wave Lending Group Inc place emphasis on $400k-600k loans with 706 originations, totaling $336,660,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 533 $236,345,000 $443,424 $4,499 4.00%
    $150k-250k 318 $155,580,000 $489,245 $4,845 4.04%
    $75k-100k 316 $124,950,000 $395,411 $4,460 3.96%
    $50k-75k 221 $68,915,000 $311,833 $4,092 3.90%
    $250k+ 119 $64,555,000 $542,479 $5,576 4.10%
    $50k or less 90 $29,580,000 $328,667 $5,423 4.77%

    New Wave Lending Group Inc lent most frequently to those with incomes in the $100k-150k range, with 533 originations. The second most popular income band? $150k-250k, with 318 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 252 $109,590,000 $434,881 $4,743 3.99%
    20-30% 197 $79,335,000 $402,716 $3,905 3.88%
    49% 108 $46,350,000 $429,167 $4,484 4.06%
    48% 104 $43,720,000 $420,385 $4,807 4.05%
    47% 90 $37,070,000 $411,889 $4,569 4.00%
    <20% 82 $36,810,000 $448,902 $6,204 4.73%
    43% 82 $36,380,000 $443,659 $4,739 4.01%
    45% 80 $36,660,000 $458,250 $5,338 4.10%
    41% 77 $31,505,000 $409,156 $4,609 4.05%
    46% 73 $30,865,000 $422,808 $4,493 4.08%
    44% 71 $28,525,000 $401,761 $4,561 4.06%
    40% 70 $30,280,000 $432,571 $4,285 4.09%
    42% 64 $26,500,000 $414,063 $4,474 3.96%
    38% 61 $26,695,000 $437,623 $4,734 3.92%
    37% 60 $26,210,000 $436,833 $4,311 3.90%
    36% 54 $23,050,000 $426,852 $4,379 4.00%
    39% 50 $21,040,000 $420,800 $4,260 3.95%
    50-60% 18 $6,960,000 $386,667 $5,349 4.03%
    >60% 4 $2,380,000 $595,000 $6,152 4.03%

    New Wave Lending Group Inc lent most frequently to those with DTI ratios of 30-36%, with 252 originations. The next most common DTI ratio? 20-30%, with 197 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 1,213 $519,625,000 $428,380 $4,538 4.03%
    White 217 $89,325,000 $411,636 $4,936 4.08%
    Not provided 142 $59,530,000 $419,225 $4,819 4.02%
    Native Hawaiian or Islander 7 $3,385,000 $483,571 $6,189 3.91%
    Black 7 $3,005,000 $429,286 $5,732 4.38%
    Chinese 5 $2,485,000 $497,000 $6,175 3.98%
    American Indian 3 $1,395,000 $465,000 $5,248 3.92%
    Korean 2 $800,000 $400,000 $3,899 3.44%
    Vietnamese 1 $375,000 $375,000 $3,059 4.38%

    Approval Rates

    Total approvals of all applications
    99.47%

    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
    81.97%

    New Wave Lending Group Inc has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 6 $850,000 $141,667
    NA 1,591 $679,075,000 $426,823

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,597 $679,925,000 $425,751

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 123 $36,125,000 $293,699 $4,161 3.83%
    40-60% 392 $156,240,000 $398,571 $4,181 3.88%
    60-80% 877 $396,045,000 $451,591 $4,717 4.10%
    80-100% 185 $86,365,000 $466,838 $5,565 4.14%
    Over 100% 1 $655,000 $655,000 $2,589 3.63%
    Under 20% 19 $4,495,000 $236,579 $3,938 4.51%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    NOBLE HOME LOANS INC Conventional home mortgage Closing on a mortgage 1 100.0%