New West Lending Mortgage Rates, Fees & Info
PHOENIX, AZLEI: 549300RU0T31BIA8UR19
Tax ID: 86-0816467
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
New West Lending is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. New West Lending has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Phoenix, Los Angeles, Riverside, Tucson, and Prescott Valley among others. New West Lending has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. New West Lending is typically an average fee lendor.Originations
926Origination Dollar Volume (All Markets)
$250,750,000Awards
NEW WEST LENDING - 2021
NEW WEST LENDING is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
New West Lending 's average 30 year fixed rate mortgage of loans were
3.11%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.04%.
Relative Fees
New West Lending 's average total fees for a 30 year fixed rate
mortgage are $5,172.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 751 | $192,495,000 | $256,318 | $4,626 | 3.07% |
| Outside of Metro Areas | 71 | $19,805,000 | $278,944 | $5,863 | 3.18% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 24 | $13,710,000 | $571,250 | $9,635 | 2.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 32 | $11,230,000 | $350,938 | $7,354 | 3.08% |
| TUCSON, AZ (FHA|USDA|VA) | 12 | $2,190,000 | $182,500 | $5,421 | 3.15% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 6 | $1,850,000 | $308,333 | $5,278 | 3.08% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 4 | $1,760,000 | $440,000 | $6,486 | 2.88% |
| Payson, AZ (FHA|USDA|VA) | 6 | $1,650,000 | $275,000 | $4,063 | 2.90% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $3,258 | 2.78% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $3,539 | 3.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $4,080 | 3.12% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $0 | 3.00% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,601 | 3.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,917 | 3.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $7,665 | 2.94% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,098 | 2.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,405 | 2.00% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $874 | 2.25% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,854 | 3.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,060 | 3.25% |
New West Lending 's top markets include Phoenix, Los Angeles, Riverside, Tucson, and Prescott Valley among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 725 | $193,445,000 | $266,821 | $3,945 | 3.12% |
| FHA | 165 | $45,595,000 | $276,333 | $8,928 | 2.97% |
| VA | 36 | $11,710,000 | $325,278 | $6,161 | 2.47% |
For the 2021 period, New West Lending 's most frequently originated loan type of loans were Conventional, with 725 originations. Their 2nd most popular type is FHA, with 165 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 334 | $100,170,000 | $299,910 | $6,973 | 3.11% |
| Cash Out Refi | 302 | $79,640,000 | $263,709 | $4,172 | 3.18% |
| Refi | 290 | $70,940,000 | $244,621 | $3,392 | 2.90% |
For the 2021, New West Lending 's most frequently cited loan purpose of loans were Home Purchase, with 334 originations. The 2nd most popular reason of loans were Cash Out Refi, with 302 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 826 | $229,830,000 | $278,245 | $5,172 | 3.11% |
| 15 Year | 57 | $11,955,000 | $209,737 | $2,931 | 2.57% |
| 20 Year | 29 | $6,205,000 | $213,966 | $3,352 | 2.83% |
| Other | 12 | $2,490,000 | $207,500 | $3,092 | 3.24% |
| 10 Year | 2 | $270,000 | $135,000 | $1,574 | 2.50% |
For the 2021, New West Lending 's most frequently cited loan length of loans were 30 Year, with 826 originations. The 2nd most popular length of loans were 15 Year, with 57 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 629 | $166,565,000 | $264,809 |
| $3k-4k | 85 | $22,275,000 | $262,059 |
| $2k-3k | 81 | $18,835,000 | $232,531 |
| $5k+ | 40 | $15,880,000 | $397,000 |
| $<1k | 1 | $215,000 | $215,000 |
$5,172 of loans were New West Lending 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 629 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 411 | $109,215,000 | $265,730 |
| 2.5-3% | 390 | $107,980,000 | $276,872 |
| <2.5% | 103 | $28,475,000 | $276,456 |
| 4-5% | 21 | $4,855,000 | $231,190 |
| 5-6% | 1 | $225,000 | $225,000 |
During 2021, New West Lending 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 411 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 586 | $163,560,000 | $279,113 | $5,265 | 3.08% |
| $100k-200k | 241 | $38,845,000 | $161,183 | $3,568 | 3.06% |
| $400k-600k | 83 | $39,855,000 | $480,181 | $5,888 | 2.99% |
| $600k-1MM | 9 | $6,915,000 | $768,333 | $12,697 | 2.89% |
| $100,000 or less | 6 | $520,000 | $86,667 | $3,932 | 3.40% |
| $1MM+ | 1 | $1,055,000 | $1,055,000 | $14,500 | 3.13% |
2021 saw New West Lending place emphasis on $200k-400k loans with 586 originations, totaling $163,560,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 278 | $69,880,000 | $251,367 | $5,068 | 3.10% |
| $50k or less | 266 | $57,450,000 | $215,977 | $4,911 | 3.07% |
| $75k-100k | 149 | $41,305,000 | $277,215 | $4,966 | 3.11% |
| $100k-150k | 138 | $42,930,000 | $311,087 | $4,382 | 3.04% |
| $150k-250k | 71 | $28,475,000 | $401,056 | $5,206 | 2.93% |
| $250k+ | 24 | $10,710,000 | $446,250 | $6,399 | 3.05% |
New West Lending lent most frequently to those with incomes in the $50k-75k range, with 278 originations. The second most popular income band? $50k or less, with 266 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 174 | $45,490,000 | $261,437 | $4,400 | 3.09% |
| 20-30% | 171 | $46,265,000 | $270,556 | $4,331 | 3.04% |
| <20% | 82 | $23,690,000 | $288,902 | $4,195 | 2.88% |
| 44% | 50 | $14,620,000 | $292,400 | $5,904 | 3.07% |
| 40% | 47 | $11,855,000 | $252,234 | $4,872 | 3.08% |
| 43% | 43 | $12,085,000 | $281,047 | $4,812 | 3.21% |
| 42% | 40 | $11,740,000 | $293,500 | $6,258 | 3.03% |
| 39% | 36 | $10,240,000 | $284,444 | $4,716 | 3.10% |
| 38% | 36 | $9,070,000 | $251,944 | $4,526 | 3.03% |
| 37% | 32 | $7,350,000 | $229,688 | $4,511 | 3.20% |
| 41% | 31 | $8,385,000 | $270,484 | $5,144 | 3.15% |
| 36% | 31 | $7,765,000 | $250,484 | $4,251 | 3.13% |
| 45% | 30 | $8,150,000 | $271,667 | $5,725 | 3.18% |
| 46% | 29 | $8,215,000 | $283,276 | $6,027 | 3.02% |
| 50-60% | 27 | $7,475,000 | $276,852 | $8,271 | 2.84% |
| 47% | 23 | $5,795,000 | $251,957 | $5,667 | 3.12% |
| 48% | 22 | $6,650,000 | $302,273 | $6,725 | 3.19% |
| 49% | 20 | $5,410,000 | $270,500 | $5,972 | 3.18% |
| >60% | 2 | $500,000 | $250,000 | $4,104 | 3.06% |
New West Lending lent most frequently to those with DTI ratios of 30-36%, with 174 originations. The next most common DTI ratio? 20-30%, with 171 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 827 | $221,705,000 | $268,083 | $5,000 | 3.07% |
| Asian | 39 | $12,435,000 | $318,846 | $4,108 | 3.01% |
| Not provided | 23 | $6,555,000 | $285,000 | $4,882 | 3.21% |
| Black | 15 | $4,455,000 | $297,000 | $5,764 | 3.02% |
| American Indian | 12 | $2,940,000 | $245,000 | $3,594 | 3.21% |
| Filipino | 6 | $1,590,000 | $265,000 | $5,107 | 3.08% |
| Native Hawaiian | 3 | $805,000 | $268,333 | $3,324 | 3.04% |
| Other Asian | 1 | $265,000 | $265,000 | $4,559 | 3.25% |
Approval Rates
Total approvals of all applications96.88%
New West Lending has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.00%
New West Lending has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 926 | $250,750,000 | $270,788 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 926 | $250,750,000 | $270,788 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 36 | $6,120,000 | $170,000 | $3,890 | 2.89% |
| 40-60% | 160 | $34,690,000 | $216,813 | $3,399 | 2.94% |
| 60-80% | 408 | $112,550,000 | $275,858 | $4,112 | 3.15% |
| 80-100% | 317 | $95,585,000 | $301,530 | $6,749 | 3.06% |
| Over 100% | 5 | $1,805,000 | $361,000 | $15,714 | 2.48% |
