New West Lending Mortgage Rates, Fees & Info
PHOENIX, AZLEI: 549300RU0T31BIA8UR19
Tax ID: 86-0816467
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Mortgage Data
Review & Overview
New West Lending is a smaller mortgage company specializing in Refi and Home Purchase loans. New West Lending has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Phoenix, Los Angeles, Riverside, Prescott Valley, and Tucson among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)New West Lending has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. New West Lending is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.67% | 5/4/24 |
| 30 Year Conventional Refi | 6.44% | 5/4/24 |
| 30 Year Cash-out Refi | 6.70% | 5/4/24 |
| 30 Year FHA Purchase | 7.02% | 5/4/24 |
| 30 Year VA Purchase | 5.81% | 5/4/24 |
| 15 Year Conventional Refi | 6.10% | 5/4/24 |
| 15 Year Cash-out Refi | 6.10% | 5/4/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
New West Lending Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,217Origination Dollar Volume (All Markets)
$307,425,000Awards
NEW WEST LENDING - 2020
NEW WEST LENDING is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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Top 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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1,081 | $262,005,000 | $242,373 | $4,215 | 3.12% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 25 | $11,055,000 | $442,200 | $5,388 | 3.06% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 32 | $10,860,000 | $339,375 | $5,871 | 2.84% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 11 | $2,465,000 | $224,091 | $4,012 | 2.79% |
| TUCSON, AZ (FHA|USDA|VA) | 10 | $1,780,000 | $178,000 | $3,700 | 3.19% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $1,775,000 | $355,000 | $3,873 | 2.90% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $1,710,000 | $855,000 | $2,454 | 2.50% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $1,685,000 | $561,667 | $6,083 | 3.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $3,398 | 2.95% |
| Payson, AZ (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $4,644 | 2.75% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $2,452 | 2.71% |
| Outside of Metro Areas | 4 | $900,000 | $225,000 | $2,314 | 2.84% |
| Show Low, AZ (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $4,391 | 3.25% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $668 | 2.63% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $3,827 | 3.67% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $10,110 | 3.13% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $1,200 | 3.31% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $7,715 | 3.63% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $1,418 | 3.38% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,652 | 2.69% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,078 | 2.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,785 | 3.38% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,863 | 2.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,019 | 2.75% |
| YUMA, AZ (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,785 | 3.44% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,345 | 3.94% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,277 | 3.38% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,930 | 3.25% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,145 | 2.50% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,098 | 2.88% |
| NILES, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,760 | 2.38% |
| Durango, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,125 | 2.50% |
| Safford, AZ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,299 | 4.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against NEW WEST LENDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 874 | $219,290,000 | $250,904 | $3,362 | 3.14% |
| FHA | 248 | $57,420,000 | $231,532 | $7,523 | 3.12% |
| VA | 95 | $30,715,000 | $323,316 | $3,902 | 2.71% |
For 2020, New West Lending's most frequently originated type of loan was Conventional, with 874 originations. Their 2nd most popular type was FHA, with 248 originations.
Loan Reason
For 2020, New West Lending's most frequently cited loan purpose was Refi, with 614 originations. The 2nd most popular reason was Home Purchase, with 374 originations.
Loan Duration/Length
For 2020, New West Lending's most frequently cited loan duration was 30 Year, with 1,086 originations. The 2nd most popular length was 15 Year, with 94 originations.
Origination Fees/Closing Costs
New West Lending's average total fees were $4,454, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 707 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 477 | $125,425,000 | $262,945 |
| 3-4% | 458 | $107,560,000 | $234,847 |
| <2.5% | 194 | $56,060,000 | $288,969 |
| 4-5% | 73 | $15,535,000 | $212,808 |
| 5-6% | 5 | $935,000 | $187,000 |
During 2020, New West Lending's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 477 originations.
Loan Sizing
2020 saw New West Lending place emphasis on $200k-400k loans with 725 originations, totaling $194,515,000 in origination value.
Applicant Income
New West Lending lent most frequently to those with incomes in the $50k or less range, with 404 originations. The second most popular income band? $50k-75k, with 323 originations.
Applicant Debt to Income Ratio
New West Lending lent most frequently to those with DTI ratios of 20-30%, with 244 originations. The next most common DTI ratio? 30-36%, with 201 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.64%
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 origination91.04%
New West Lending has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,217 | $307,425,000 | $252,609 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $620,000 | $155,000 |
| Single Family (1-4 Units):Site-Built | 1,213 | $306,805,000 | $252,931 |