Equity Wave Lending Mortgage Rates, Fees & Info
IRVINE, CALEI: 549300RC1JITZLHVLH66
Tax ID: 27-3382969
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Mortgage Data
Review & Overview
Equity Wave Lending is a smaller mortgage company specializing in Cash Out Refi loans. Equity Wave Lending has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, San Jose, and San Francisco among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Equity Wave Lending has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
282Origination Dollar Volume (All Markets)
$88,460,000Top 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) | 147 | $51,295,000 | $348,946 | $0 | 12.29% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 39 | $10,835,000 | $277,821 | $0 | 12.15% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 20 | $6,500,000 | $325,000 | $0 | 11.87% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 12 | $3,780,000 | $315,000 | $0 | 12.60% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 15 | $3,335,000 | $222,333 | $0 | 12.68% |
| Outside of Metro Areas | 3 | $2,685,000 | $895,000 | $0 | 11.83% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 8 | $1,580,000 | $197,500 | $0 | 13.09% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $0 | 12.66% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $0 | 12.99% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $0 | 14.16% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $0 | 12.49% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 12.50% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 11.99% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 13.16% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $0 | 11.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $0 | 11.75% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 13.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 12.99% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 13.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 10.99% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 12.99% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 12.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 13.99% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 12.99% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 12.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 10.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 282 | $88,460,000 | $313,688 | $0 | 12.35% |
For 2024, Equity Wave Lending's most frequently originated type of loan was Conventional, with 282 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 263 | $80,915,000 | $307,662 | $0 | 12.37% |
| Home Purchase | 17 | $7,205,000 | $423,824 | $0 | 11.93% |
| Refi | 2 | $340,000 | $170,000 | $0 | 13.37% |
For 2024, Equity Wave Lending's most frequently cited loan purpose was Cash Out Refi, with 263 originations. The 2nd most popular reason was Home Purchase, with 17 originations.
Loan Duration/Length
For 2024, Equity Wave Lending's most frequently cited loan duration was 3 Year, with 229 originations. The 2nd most popular length was Other, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 282 | $88,460,000 | $313,688 |
During 2024, Equity Wave Lending's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 282 originations.
Loan Sizing
2024 saw Equity Wave Lending place emphasis on $100k-200k loans with 105 originations, totaling $15,195,000 in origination value.
Applicant Income
Equity Wave Lending lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Equity Wave Lending lent most frequently to those with DTI ratios of <20%, with 160 originations. The next most common DTI ratio? 20-30%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.47%
Equity Wave Lending has a below average approval rate.
Pick Rate
Approvals leading to origination57.09%
Equity Wave Lending 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 | 282 | $88,460,000 | $313,688 |