Intercap Lending Inc

Draper, UT 84020

LEI: 549300S5FVOSK5DQJN30

Tax ID: 85-0260899

2019 Data | 2018 Data


Overview

Intercap Lending Inc is a small mortgage company specializing in Home Purchase and Refi loans. Intercap Lending Inc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Salt Lake City, Provo, Ogden, St. George, and San Diego among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Intercap Lending Inc is typically a medium-low fee lendor.


Originations

6,433

Origination Dollar Volume (All Markets)

$1,777,435,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 4,725 $1,299,275,000 $274,979
FHA 1,055 $277,145,000 $262,697
VA 543 $174,735,000 $321,796
USDA 110 $26,280,000 $238,909

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 4,005 $1,051,055,000 $262,436
Home Improvement 9 $2,605,000 $289,444
Refi 1,554 $474,390,000 $305,270
Cash Out Refi 865 $249,385,000 $288,306

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
SALT LAKE CITY, UT 2,661 $771,205,000 $289,818
PROVO-OREM, UT 1,209 $342,145,000 $282,998
OGDEN-CLEARFIELD, UT 1,268 $311,950,000 $246,017
Outside of Metro Areas 484 $121,410,000 $250,847
ST. GEORGE, UT 319 $80,805,000 $253,307
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 68 $31,940,000 $469,706
PHOENIX-MESA-CHANDLER, AZ 70 $16,850,000 $240,714
LOGAN, UT-ID 55 $11,785,000 $214,273
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 30 $7,830,000 $261,000
LAS VEGAS-HENDERSON-PARADISE, NV 31 $6,915,000 $223,065
LOS ANGELES-LONG BEACH-GLENDALE, CA 12 $5,470,000 $455,833
BOISE CITY, ID 21 $5,195,000 $247,381
SACRAMENTO-ROSEVILLE-FOLSOM, CA 11 $4,755,000 $432,273
OAKLAND-BERKELEY-LIVERMORE, CA 7 $4,375,000 $625,000
ANAHEIM-SANTA ANA-IRVINE, CA 6 $3,780,000 $630,000
DENVER-AURORA-LAKEWOOD, CO 6 $3,060,000 $510,000
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 8 $2,720,000 $340,000
ALBUQUERQUE, NM 8 $2,070,000 $258,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 6 $2,060,000 $343,333
DALLAS-PLANO-IRVING, TX 6 $2,020,000 $336,667
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 9 $1,875,000 $208,333
TACOMA-LAKEWOOD, WA 4 $1,410,000 $352,500
ORLANDO-KISSIMMEE-SANFORD, FL 4 $1,380,000 $345,000
OXNARD-THOUSAND OAKS-VENTURA, CA 3 $1,365,000 $455,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 3 $1,225,000 $408,333
LAKE HAVASU CITY-KINGMAN, AZ 5 $975,000 $195,000
COLUMBIA, SC 4 $970,000 $242,500
CHICAGO-NAPERVILLE-EVANSTON, IL 3 $965,000 $321,667
ANCHORAGE, AK 2 $950,000 $475,000
BALTIMORE-COLUMBIA-TOWSON, MD 3 $945,000 $315,000
FRESNO, CA 2 $850,000 $425,000
TUCSON, AZ 3 $805,000 $268,333
STOCKTON, CA 2 $760,000 $380,000
TWIN FALLS, ID 2 $740,000 $370,000
SPOKANE-SPOKANE VALLEY, WA 3 $705,000 $235,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 2 $690,000 $345,000
PRESCOTT VALLEY-PRESCOTT, AZ 4 $690,000 $172,500
SALEM, OR 3 $675,000 $225,000
ALBANY-LEBANON, OR 2 $630,000 $315,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 3 $605,000 $201,667
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 1 $605,000 $605,000
SAN LUIS OBISPO-PASO ROBLES, CA 2 $590,000 $295,000
SEATTLE-BELLEVUE-KENT, WA 2 $590,000 $295,000
KILLEEN-TEMPLE, TX 3 $575,000 $191,667
LOUISVILLE/JEFFERSON COUNTY, KY-IN 2 $570,000 $285,000
HILTON HEAD ISLAND-BLUFFTON, SC 1 $565,000 $565,000
SIERRA VISTA-DOUGLAS, AZ 3 $535,000 $178,333
LONGVIEW, WA 2 $520,000 $260,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 2 $510,000 $255,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 4 $510,000 $127,500
POCATELLO, ID 2 $500,000 $250,000
WENATCHEE, WA 2 $490,000 $245,000
JACKSONVILLE, FL 2 $480,000 $240,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 1 $475,000 $475,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 1 $465,000 $465,000
GRAND RAPIDS-KENTWOOD, MI 1 $465,000 $465,000
SALINAS, CA 1 $435,000 $435,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1 $425,000 $425,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 1 $415,000 $415,000
SAN ANTONIO-NEW BRAUNFELS, TX 1 $415,000 $415,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 1 $405,000 $405,000
IDAHO FALLS, ID 3 $395,000 $131,667
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 2 $380,000 $190,000
BIRMINGHAM-HOOVER, AL 2 $370,000 $185,000
COLORADO SPRINGS, CO 1 $355,000 $355,000
GREELEY, CO 2 $340,000 $170,000
LAWTON, OK 1 $325,000 $325,000
WARREN-TROY-FARMINGTON HILLS, MI 1 $315,000 $315,000
LAS CRUCES, NM 1 $305,000 $305,000
OKLAHOMA CITY, OK 2 $300,000 $150,000
MEDFORD, OR 1 $295,000 $295,000
AUGUSTA-RICHMOND COUNTY, GA-SC 2 $280,000 $140,000
KNOXVILLE, TN 1 $275,000 $275,000
MIAMI-MIAMI BEACH-KENDALL, FL 1 $275,000 $275,000
CLARKSVILLE, TN-KY 1 $265,000 $265,000
COEUR D'ALENE, ID 1 $255,000 $255,000
LANCASTER, PA 1 $255,000 $255,000
VICTORIA, TX 1 $255,000 $255,000
ROANOKE, VA 1 $245,000 $245,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 1 $245,000 $245,000
GRAND JUNCTION, CO 1 $235,000 $235,000
HICKORY-LENOIR-MORGANTON, NC 1 $235,000 $235,000
RICHMOND, VA 1 $235,000 $235,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $225,000 $225,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $215,000 $215,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 1 $215,000 $215,000
CINCINNATI, OH-KY-IN 1 $215,000 $215,000
CHICO, CA 1 $205,000 $205,000
WACO, TX 1 $205,000 $205,000
THE VILLAGES, FL 1 $185,000 $185,000
SPRINGFIELD, OH 1 $185,000 $185,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $185,000 $185,000
GREENSBORO-HIGH POINT, NC 1 $185,000 $185,000
SPARTANBURG, SC 1 $185,000 $185,000
DURHAM-CHAPEL HILL, NC 1 $165,000 $165,000
RALEIGH-CARY, NC 1 $155,000 $155,000
DAYTON-KETTERING, OH 1 $135,000 $135,000
LAKELAND-WINTER HAVEN, FL 1 $135,000 $135,000
MACON-BIBB COUNTY, GA 1 $115,000 $115,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 19 $185,000 $9,737
2.5-3% 59 $18,595,000 $315,169
3-4% 2,959 $903,715,000 $305,412
4-5% 2,407 $706,615,000 $293,567
5-6% 639 $142,065,000 $222,324
6-7% 154 $3,880,000 $25,195
7-8% 196 $2,380,000 $12,143

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 531 $10,595,000 $19,953
$100k-200k 1,047 $172,365,000 $164,628
$200k-400k 3,931 $1,120,285,000 $284,987
$400k-600k 769 $356,375,000 $463,427
$600k-1000k 138 $96,350,000 $698,188
$Over $1MM 17 $21,465,000 $1,262,647

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 131 $25,555,000 $195,076
40-60% 369 $92,635,000 $251,043
60-80% 1,813 $560,805,000 $309,324
80-100% 3,334 $995,690,000 $298,647
Over 100% 83 $27,685,000 $333,554
Under 20% 487 $7,225,000 $14,836

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,069 $361,165,000 $337,853
$150k-250k 557 $216,245,000 $388,232
$50k-75k 2,004 $460,100,000 $229,591
$50k-or less 941 $163,075,000 $173,300
$75k-100k 1,248 $345,860,000 $277,131
$Over $250k 254 $117,880,000 $464,094

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 5,576 $1,543,970,000 $276,896
Not provided 589 $160,125,000 $271,859
Asian 108 $31,700,000 $293,519
Black 74 $19,540,000 $264,054
Native Hawaiian 38 $11,640,000 $306,316
American Indian 34 $7,230,000 $212,647
Not applicable 4 $1,120,000 $280,000
Other Asian 2 $550,000 $275,000
Samoan 3 $525,000 $175,000
Filipino 2 $430,000 $215,000
Chinese 2 $390,000 $195,000
Other Pacific Islander 1 $215,000 $215,000

Approval Rates

Total approvals of all applications
98.42%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
80.99%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 6,433 $1,777,435,000 $276,300

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 746 $89,600,000 $120,107
$1k-2k 3,050 $930,480,000 $305,075
$2k-3k 961 $255,135,000 $265,489
$3k-4k 1,041 $291,885,000 $280,389
$5k+ 593 $199,525,000 $336,467

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 57 $8,835,000 $155,000
Single Family (1-4 Units):Site-Built 6,376 $1,768,600,000 $277,384