Express Funding Mortgage Rates, Fees & Info

PLANO, TX

LEI: 549300RVA0V4U2J29Q12

Tax ID: 75-2518067

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Express Funding is a smaller mortgage company specializing in Home Purchase loans. Express Funding has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Colorado Springs, Boulder, Greeley, and Durango among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Express Funding has a below average approval rate when compared to the average across all 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.

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    Originations

    28

    Origination Dollar Volume (All Markets)

    $3,220,000

    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
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 14 $1,820,000 $130,000 $814 5.41%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 6 $530,000 $88,333 $748 5.25%
    BOULDER, CO (FHA|USDA|VA) 3 $485,000 $161,667 $832 5.33%
    GREELEY, CO (FHA|USDA|VA) 2 $180,000 $90,000 $747 5.50%
    Durango, CO (FHA|USDA|VA) 2 $120,000 $60,000 $757 5.75%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $85,000 $85,000 $832 5.25%
    Express Funding's top markets include Denver, Colorado Springs, Boulder, Greeley, and Durango among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 28 $3,220,000 $115,000 $793 5.39%

    For 2020, Express Funding's most frequently originated type of loan was Conventional, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $2,630,000 $119,545 $779 5.41%
    Refi 6 $590,000 $98,333 $845 5.33%

    For 2020, Express Funding's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 23 $2,685,000 $116,739 $814 5.41%
    20 Year 5 $535,000 $107,000 $698 5.30%

    For 2020, Express Funding's most frequently cited loan duration was 15 Year, with 23 originations. The 2nd most popular length was 20 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 28 $3,220,000 $115,000

    Express Funding's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 28 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 25 $2,875,000 $115,000
    4-5% 3 $345,000 $115,000

    During 2020, Express Funding's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 13 $905,000 $69,615 $767 5.33%
    $100k-200k 13 $1,835,000 $141,154 $812 5.44%
    $200k-400k 2 $480,000 $240,000 $847 5.50%

    2020 saw Express Funding place emphasis on $100,000 or less loans with 13 originations, totaling $905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 15 $1,765,000 $117,667 $795 5.40%
    $100k-150k 7 $725,000 $103,571 $743 5.36%
    $250k+ 6 $730,000 $121,667 $848 5.42%

    Express Funding lent most frequently to those with incomes in the $150k-250k range, with 15 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 5 $495,000 $99,000 $796 5.60%
    30-36% 5 $615,000 $123,000 $803 5.25%
    37% 3 $505,000 $168,333 $825 5.25%
    45% 3 $385,000 $128,333 $850 5.42%
    <20% 2 $100,000 $50,000 $827 5.25%
    38% 2 $260,000 $130,000 $805 5.25%
    40% 2 $160,000 $80,000 $607 5.12%
    44% 2 $170,000 $85,000 $720 5.38%
    43% 1 $115,000 $115,000 $782 5.75%
    47% 1 $155,000 $155,000 $931 5.75%
    36% 1 $105,000 $105,000 $782 5.50%
    41% 1 $155,000 $155,000 $782 5.75%

    Express Funding lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? 30-36%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $2,590,000 $117,727 $808 5.37%
    Black 3 $325,000 $108,333 $740 5.50%
    Asian 1 $155,000 $155,000 $962 5.25%
    Not provided 2 $150,000 $75,000 $632 5.50%

    Approval Rates

    Total approvals of all applications
    58.33%

    Express Funding has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 28 $3,220,000 $115,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 28 $3,220,000 $115,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,150,000 $191,667 $804 5.50%
    Under 20% 22 $2,070,000 $94,091 $791 5.36%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Experian Information Solutions Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.7%
    Experian Information Solutions Inc. Conventional home mortgage Closing on a mortgage 1 7.7%
    Experian Information Solutions Inc. Conventional home mortgage Improper use of your report 1 7.7%
    Experian Information Solutions Inc. Conventional home mortgage Incorrect information on your report 3 23.1%
    Experian Information Solutions Inc. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 7.7%
    Experian Information Solutions Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 15.4%
    Experian Information Solutions Inc. FHA mortgage Incorrect information on your report 2 15.4%
    Experian Information Solutions Inc. Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.7%
    Experian Information Solutions Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.7%