Love Funding Corporation Mortgage Rates, Fees & Info
Washington, DCLEI: 549300QCMANURIHZ1D65
Tax ID: 43-1364602
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Mortgage Data
Review & Overview
Love Funding Corporation is a smaller mortgage company specializing in Refi and Home Purchase loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Dallas, Cape Coral, Detroit, Rapid City, and Memphis among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Love Funding Corporation has an above average approval rate when compared to the average across all lenders. They typically have about average rates.
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Originations
27Origination Dollar Volume (All Markets)
$216,375,000Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $40,760,000 | $20,380,000 | $0 | 3.73% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $40,605,000 | $40,605,000 | $0 | 4.19% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $29,895,000 | $9,965,000 | $0 | 3.67% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $24,165,000 | $24,165,000 | $0 | 3.72% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $12,705,000 | $12,705,000 | $0 | 4.03% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $11,295,000 | $11,295,000 | $0 | 4.08% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $7,210,000 | $3,605,000 | $0 | 4.35% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $6,520,000 | $3,260,000 | $0 | 3.25% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $6,415,000 | $6,415,000 | $0 | 3.75% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $5,585,000 | $5,585,000 | $0 | 3.32% |
| Outside of Metro Areas | 2 | $4,830,000 | $2,415,000 | $0 | 4.15% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $4,225,000 | $4,225,000 | $0 | 4.34% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $3,855,000 | $3,855,000 | $0 | 3.99% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $3,385,000 | $3,385,000 | $0 | 3.92% |
| BANGOR, ME (FHA|USDA|VA) | 2 | $3,270,000 | $1,635,000 | $0 | 4.47% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $3,165,000 | $3,165,000 | $0 | 3.74% |
| REDDING, CA (FHA|USDA|VA) | 1 | $3,125,000 | $3,125,000 | $0 | 3.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $2,435,000 | $2,435,000 | $0 | 3.63% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $1,925,000 | $1,925,000 | $0 | 4.47% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 4.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 27 | $216,375,000 | $8,013,889 | $0 | 3.92% |
For 2018, Love Funding Corporation's most frequently originated type of loan was FHA, with 27 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 20 | $85,180,000 | $4,259,000 | $0 | 3.87% |
| Home Purchase | 7 | $131,195,000 | $18,742,143 | $0 | 4.06% |
For 2018, Love Funding Corporation's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30+ year | 26 | $215,370,000 | $8,283,462 | $0 | 3.90% |
| 30 Year | 1 | $1,005,000 | $1,005,000 | $0 | 4.50% |
For 2018, Love Funding Corporation's most frequently cited loan duration was 30+ year, with 26 originations. The 2nd most popular length was 30 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 14 | $103,530,000 | $7,395,000 |
| 4-5% | 13 | $112,845,000 | $8,680,385 |
During 2018, Love Funding Corporation's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 26 | $215,710,000 | $8,296,538 | $0 | 3.90% |
| $600k-1MM | 1 | $665,000 | $665,000 | $0 | 4.47% |
2018 saw Love Funding Corporation place emphasis on $1MM+ loans with 26 originations, totaling $215,710,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 27 | $216,375,000 | $8,013,889 | $0 | 3.92% |
Approval Rates
Total approvals of all applications100.00%
Love Funding Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 27 | $216,375,000 | $8,013,889 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 27 | $216,375,000 | $8,013,889 |