Equity Wave Lending Mortgage Rates, Fees & Info
IRVINE, CALEI: 549300RC1JITZLHVLH66
Tax ID: 27-3382969
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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 Francisco, San Diego, and San Jose among others. We have data for 30 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.
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.
Originations
278Origination Dollar Volume (All Markets)
$79,360,000Top 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) | 151 | $45,395,000 | $300,629 | $0 | 12.22% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 40 | $8,880,000 | $222,000 | $0 | 12.16% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 19 | $5,065,000 | $266,579 | $0 | 12.91% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 17 | $4,565,000 | $268,529 | $0 | 12.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 8 | $4,160,000 | $520,000 | $0 | 12.15% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,365,000 | $455,000 | $0 | 12.33% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $0 | 11.74% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 11.99% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $0 | 12.43% |
| CHICO, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $0 | 12.99% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $0 | 13.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 12.25% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $0 | 10.91% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 12.12% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 10.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 11.25% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $0 | 12.81% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 10.99% |
| NAPA, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 11.99% |
| Outside of Metro Areas | 2 | $360,000 | $180,000 | $0 | 10.49% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 12.50% |
| MERCED, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 10.99% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 11.99% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 10.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 9.99% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 11.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 11.99% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 10.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 11.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 12.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 271 | $75,755,000 | $279,539 | $0 | 12.19% |
| HELOC | 7 | $3,605,000 | $515,000 | n/a | 11.78% |
For 2023, Equity Wave Lending's most frequently originated type of loan was Conventional, with 271 originations. Their 2nd most popular type was HELOC, with 7 originations.
Loan Reason
For 2023, Equity Wave Lending's most frequently cited loan purpose was Cash Out Refi, with 229 originations. The 2nd most popular reason was Refi, with 34 originations.
Loan Duration/Length
For 2023, Equity Wave Lending's most frequently cited loan duration was 3 Year, with 156 originations. The 2nd most popular length was Other, with 113 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 278 | $79,360,000 | $285,468 |
During 2023, 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 278 originations.
Loan Sizing
2023 saw Equity Wave Lending place emphasis on $100k-200k loans with 116 originations, totaling $16,560,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 13 | $6,255,000 | $481,154 | $0 | 10.92% |
| $50k-75k | 2 | $730,000 | $365,000 | $0 | 10.75% |
Equity Wave Lending lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
Equity Wave Lending lent most frequently to those with DTI ratios of <20%, with 166 originations. The next most common DTI ratio? 20-30%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.24%
Equity Wave Lending has a below average approval rate.
Pick Rate
Approvals leading to origination43.88%
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 | 278 | $79,360,000 | $285,468 |