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 Francisco, and Sacramento among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Equity Wave Lending 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.
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Originations
187Origination Dollar Volume (All Markets)
$55,035,000Top 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) | 104 | $33,580,000 | $322,885 | $0 | 10.26% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 29 | $6,095,000 | $210,172 | $0 | 9.99% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 13 | $5,305,000 | $408,077 | $0 | 10.48% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 15 | $4,275,000 | $285,000 | $0 | 11.28% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 7 | $1,675,000 | $239,286 | $0 | 10.92% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $0 | 10.62% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 9.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 8.99% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 9.50% |
| CHICO, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 8.50% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 9.99% |
| Sonora, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 10.99% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 11.99% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.99% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 11.99% |
| Outside of Metro Areas | 1 | $155,000 | $155,000 | $0 | 10.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.99% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 12.49% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 187 | $55,035,000 | $294,305 | $0 | 10.32% |
For 2020, Equity Wave Lending's most frequently originated type of loan was Conventional, with 187 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 166 | $46,640,000 | $280,964 | $0 | 10.40% |
| Home Purchase | 17 | $7,025,000 | $413,235 | $0 | 9.46% |
| Refi | 4 | $1,370,000 | $342,500 | $0 | 10.56% |
For 2020, Equity Wave Lending's most frequently cited loan purpose was Cash Out Refi, with 166 originations. The 2nd most popular reason was Home Purchase, with 17 originations.
Loan Duration/Length
For 2020, Equity Wave Lending's most frequently cited loan duration was 3 Year, with 152 originations. The 2nd most popular length was 5 Year, with 14 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 165 | $47,215,000 | $286,152 |
| 7-8% | 22 | $7,820,000 | $355,455 |
During 2020, 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 165 originations.
Loan Sizing
2020 saw Equity Wave Lending place emphasis on $200k-400k loans with 72 originations, totaling $20,200,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 2 | $430,000 | $215,000 | $0 | 10.49% |
Equity Wave Lending lent most frequently to those with incomes in the $50k or less range, with 2 originations.
Applicant Debt to Income Ratio
Equity Wave Lending lent most frequently to those with DTI ratios of <20%, with 56 originations. The next most common DTI ratio? 20-30%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.03%
Equity Wave Lending has an average approval rate.
Pick Rate
Approvals leading to origination86.10%
Equity Wave Lending has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 187 | $55,035,000 | $294,305 |