New Wave Lending Group Inc Mortgage Rates, Fees & Info

Industry, CA

LEI: 549300OPB0G5OMY0SM65

Tax ID: 82-1456336

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Mortgage Data

Review & Overview

New Wave Lending Group Inc is a small mortgage company specializing in Refi loans. New Wave Lending Group Inc has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, San Jose, and Oxnard among others. We have data for 23 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 low 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 11/21/24
30 Year Conventional Purchase 6.85% 11/21/24
30 Year Conventional Refi 6.53% 11/21/24
30 Year Cash-out Refi 6.86% 11/21/24
30 Year FHA Purchase 6.27% 11/21/24
15 Year Conventional Purchase 6.03% 11/21/24
15 Year Conventional Refi 5.86% 11/21/24
15 Year Cash-out Refi 5.86% 11/21/24
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






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

5,630

Origination Dollar Volume (All Markets)

$2,337,030,000

Awards

NEW WAVE LENDING GROUP INC 30 Year Conventional Loans silver
Show all (1) 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) 3,983 $1,699,255,000 $426,627 $4,195 9.03%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 619 $207,905,000 $335,872 $3,947 3.16%
Outside of Metro Areas 431 $189,855,000 $440,499 $4,702 3.06%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 130 $55,490,000 $426,846 $4,060 2.94%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 104 $49,660,000 $477,500 $3,385 2.99%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 117 $46,735,000 $399,444 $3,069 3.03%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 114 $45,820,000 $401,930 $3,721 3.06%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 68 $20,790,000 $305,735 $3,064 3.09%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 10 $4,260,000 $426,000 $3,767 2.90%
VALLEJO, CA (FHA|USDA|VA) 10 $3,990,000 $399,000 $3,237 2.95%
STOCKTON, CA (FHA|USDA|VA) 9 $2,825,000 $313,889 $5,992 3.19%
FRESNO, CA (FHA|USDA|VA) 7 $1,965,000 $280,714 $2,818 2.98%
BAKERSFIELD, CA (FHA|USDA|VA) 6 $1,750,000 $291,667 $4,445 3.56%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $1,495,000 $498,333 $5,550 2.83%
CHICO, CA (FHA|USDA|VA) 4 $1,200,000 $300,000 $4,179 3.13%
MODESTO, CA (FHA|USDA|VA) 4 $880,000 $220,000 $4,136 3.50%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 3 $685,000 $228,333 $3,221 2.92%
VISALIA, CA (FHA|USDA|VA) 2 $670,000 $335,000 $3,777 4.19%
Eureka-Arcata, CA (FHA|USDA|VA) 2 $570,000 $285,000 $3,340 3.31%
SALINAS, CA (FHA|USDA|VA) 1 $435,000 $435,000 $0 3.50%
NAPA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $3,685 3.25%
MERCED, CA (FHA|USDA|VA) 1 $255,000 $255,000 $2,995 4.13%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $225,000 $225,000 $0 3.13%
New Wave Lending Group Inc's top markets include Los Angeles, Riverside, San Francisco, San Jose, and Oxnard among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 5,621 $2,334,855,000 $415,381 $4,147 7.29%
    HELOC 9 $2,175,000 $241,667 n/a 4.08%

    For 2020, New Wave Lending Group Inc's most frequently originated type of loan was Conventional, with 5,621 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 4,167 $1,675,645,000 $402,123 $3,514 8.71%
    Home Purchase 931 $442,805,000 $475,623 $7,025 3.15%
    Cash Out Refi 520 $212,550,000 $408,750 $3,967 3.36%
    NA 9 $3,495,000 $388,333 $0 2.86%
    Other 2 $1,180,000 $590,000 $0 4.50%
    Home Improvement 1 $1,355,000 $1,355,000 $0 3.63%

    For 2020, New Wave Lending Group Inc's most frequently cited loan purpose was Refi, with 4,167 originations. The 2nd most popular reason was Home Purchase, with 931 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,512 $1,957,420,000 $433,825 $4,349 3.17%
    15 Year 817 $276,095,000 $337,938 $3,371 31.58%
    20 Year 189 $66,315,000 $350,873 $3,280 3.08%
    Other 75 $27,535,000 $367,133 $3,205 3.10%
    10 Year 35 $8,745,000 $249,857 $3,021 2.66%
    30+ year 2 $920,000 $460,000 $0 2.81%

    For 2020, New Wave Lending Group Inc's most frequently cited loan duration was 30 Year, with 4,512 originations. The 2nd most popular length was 15 Year, with 817 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,612 $1,047,410,000 $400,999
    $2k-3k 451 $186,595,000 $413,736
    $5k+ 218 $118,480,000 $543,486
    $4k-5k 95 $41,275,000 $434,474
    $3k-4k 82 $32,150,000 $392,073
    $<1k 9 $2,735,000 $303,889

    New Wave Lending Group Inc's average total fees were $4,349, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,612 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,715 $1,133,745,000 $417,586
    3-4% 2,293 $967,125,000 $421,773
    <2.5% 438 $155,390,000 $354,772
    4-5% 173 $75,145,000 $434,364
    5-6% 4 $1,800,000 $450,000
    6-7% 1 $415,000 $415,000
    Over 8% 1 $695,000 $695,000

    During 2020, New Wave Lending Group Inc's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,715 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,527 $791,395,000 $313,176 $3,589 3.06%
    $400k-600k 2,272 $1,090,730,000 $480,075 $4,177 3.11%
    $600k-1MM 565 $391,265,000 $692,504 $6,682 45.05%
    $100k-200k 249 $41,245,000 $165,643 $3,428 3.02%
    $1MM+ 14 $22,200,000 $1,585,714 $30,542 3.25%
    $100,000 or less 3 $195,000 $65,000 $5,179 3.29%

    2020 saw New Wave Lending Group Inc place emphasis on $200k-400k loans with 2,527 originations, totaling $791,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,796 $761,110,000 $423,781 $3,977 3.09%
    $150k-250k 1,383 $645,645,000 $466,844 $4,427 3.12%
    $75k-100k 1,064 $406,720,000 $382,256 $3,944 3.05%
    $50k-75k 734 $231,030,000 $314,755 $4,025 3.05%
    $250k+ 513 $259,405,000 $505,663 $4,790 49.25%
    $50k or less 135 $31,565,000 $233,815 $3,648 3.20%

    New Wave Lending Group Inc lent most frequently to those with incomes in the $100k-150k range, with 1,796 originations. The second most popular income band? $150k-250k, with 1,383 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,076 $432,580,000 $402,026 $3,668 24.98%
    30-36% 971 $407,465,000 $419,634 $4,231 3.06%
    <20% 345 $135,825,000 $393,696 $4,234 3.06%
    49% 336 $138,790,000 $413,065 $4,405 3.12%
    48% 282 $118,040,000 $418,582 $4,348 3.14%
    47% 251 $103,485,000 $412,291 $4,136 3.11%
    44% 241 $105,315,000 $436,992 $4,023 3.14%
    46% 240 $103,680,000 $432,000 $4,587 3.09%
    43% 229 $97,365,000 $425,175 $3,986 3.15%
    42% 226 $89,000,000 $393,805 $4,072 3.08%
    41% 224 $97,360,000 $434,643 $4,151 3.18%
    45% 216 $92,930,000 $430,231 $4,800 3.13%
    40% 205 $83,765,000 $408,610 $4,148 3.09%
    39% 203 $84,455,000 $416,034 $4,532 3.09%
    37% 189 $79,025,000 $418,122 $4,254 3.10%
    38% 188 $80,720,000 $429,362 $4,270 3.15%
    36% 161 $66,365,000 $412,205 $4,139 3.11%
    50-60% 36 $16,010,000 $444,722 $3,903 3.06%
    >60% 6 $2,660,000 $443,333 $0 2.92%

    New Wave Lending Group Inc lent most frequently to those with DTI ratios of 20-30%, with 1,076 originations. The next most common DTI ratio? 30-36%, with 971 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 4,713 $1,961,235,000 $416,133 $4,138 8.10%
    White 620 $251,270,000 $405,274 $4,272 3.16%
    Not provided 200 $85,520,000 $427,600 $3,925 2.95%
    Black 31 $12,255,000 $395,323 $3,766 3.12%
    Native Hawaiian or Islander 28 $11,600,000 $414,286 $4,264 3.15%
    American Indian 13 $5,265,000 $405,000 $4,917 3.02%
    Chinese 12 $4,890,000 $407,500 $3,593 3.08%
    Korean 6 $2,290,000 $381,667 $3,758 2.92%
    Vietnamese 5 $1,965,000 $393,000 $4,162 2.90%
    Other Asian 1 $535,000 $535,000 $2,770 3.25%
    Asian Indian 1 $205,000 $205,000 $3,107 3.00%

    Approval Rates

    Total approvals of all applications
    99.44%

    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
    74.64%

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

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 6 $870,000 $145,000
    NA 5,624 $2,336,160,000 $415,391

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $415,000 $415,000
    Single Family (1-4 Units):Site-Built 5,629 $2,336,615,000 $415,103

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 705 $209,205,000 $296,745 $3,622 2.93%
    40-60% 2,142 $839,750,000 $392,040 $3,662 3.01%
    60-80% 2,313 $1,063,505,000 $459,795 $4,522 13.42%
    80-100% 409 $200,725,000 $490,770 $5,275 3.18%
    Over 100% 9 $9,935,000 $1,103,889 $0 2.90%
    Under 20% 48 $12,230,000 $254,792 $3,721 2.98%