Chu & Associates Mortgage Rates, Fees & Info

SACRAMENTO, CA

LEI: 549300STXRPOVDJ5GX04

Tax ID: 26-0012825

3.5 stars - out of 5 stars, based on 8 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Chu & Associates is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Chu & Associates has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, Sacramento, San Diego, and San Francisco among others. Chu & Associates has an average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Chu & Associates is typically a high fee lendor.


Originations

68

Origination Dollar Volume (All Markets)

$23,790,000

Relative Rate

Chu & Associates 's average 30 year fixed rate mortgage of loans were 3.12%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.03%.

Relative Fees

Chu & Associates 's average total fees for a 30 year fixed rate mortgage are $6,350.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 24 $8,640,000 $360,000 $6,701 2.96%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 13 $5,145,000 $395,769 $6,395 3.17%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,390,000 $347,500 $5,269 3.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,345,000 $448,333 $6,316 3.04%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,210,000 $302,500 $6,084 2.84%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,095,000 $365,000 $5,286 3.12%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $715,000 $238,333 $6,252 3.08%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $665,000 $665,000 $5,396 2.88%
SALINAS, CA (FHA|USDA|VA) 1 $615,000 $615,000 $6,118 2.99%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $475,000 $475,000 $7,668 2.88%
STOCKTON, CA (FHA|USDA|VA) 1 $445,000 $445,000 $6,918 3.38%
BELLINGHAM, WA (FHA|USDA|VA) 1 $325,000 $325,000 $6,845 3.49%
BEND, OR (FHA|USDA|VA) 1 $295,000 $295,000 $3,426 1.99%
Port Angeles, WA (FHA|USDA|VA) 1 $235,000 $235,000 $5,481 2.99%
MODESTO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $5,440 1.99%
EL CENTRO, CA (FHA|USDA|VA) 1 $195,000 $195,000 $7,760 3.38%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $195,000 $195,000 $6,197 2.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $6,009 1.99%
FRESNO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $4,868 1.99%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $125,000 $125,000 $4,673 2.88%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $125,000 $125,000 $5,824 2.88%

Chu & Associates 's top markets include Los Angeles, Riverside, Sacramento, San Diego, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 66 $23,140,000 $350,606 $6,287 2.95%
VA 2 $650,000 $325,000 $5,296 3.44%

For the 2021 period, Chu & Associates 's most frequently originated loan type of loans were Conventional, with 66 originations. Their 2nd most popular type is VA, with 2 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 39 $13,405,000 $343,718 $6,048 2.75%
Cash Out Refi 26 $8,910,000 $342,692 $6,490 3.23%
Home Purchase 3 $1,475,000 $491,667 $6,979 3.50%

For the 2021, Chu & Associates 's most frequently cited loan purpose of loans were Refi, with 39 originations. The 2nd most popular reason of loans were Cash Out Refi, with 26 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 55 $19,815,000 $360,273 $6,350 3.12%
15 Year 9 $2,515,000 $279,444 $5,609 2.13%
20 Year 3 $1,025,000 $341,667 $6,588 2.63%
Other 1 $435,000 $435,000 $6,030 3.25%

For the 2021, Chu & Associates 's most frequently cited loan length of loans were 30 Year, with 55 originations. The 2nd most popular length of loans were 15 Year, with 9 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 43 $15,355,000 $357,093
$5k+ 16 $5,250,000 $328,125
$2k-3k 5 $2,075,000 $415,000
$<1k 2 $520,000 $260,000
$1k-2k 2 $590,000 $295,000

$6,350 of loans were Chu & Associates 's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 43 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 29 $10,085,000 $347,759
3-4% 25 $9,185,000 $367,400
<2.5% 13 $4,115,000 $316,538
4-5% 1 $405,000 $405,000

During 2021, Chu & Associates 's average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were 2.5-3%, with 29 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 32 $9,500,000 $296,875 $6,298 2.91%
$400k-600k 19 $9,025,000 $475,000 $6,254 3.11%
$100k-200k 12 $2,060,000 $171,667 $6,260 2.93%
$600k-1MM 5 $3,205,000 $641,000 $6,009 2.87%

2021 saw Chu & Associates place emphasis on $200k-400k loans with 32 originations, totaling $9,500,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 22 $9,840,000 $447,273 $6,274 3.07%
$50k-75k 16 $4,660,000 $291,250 $6,163 2.91%
$75k-100k 11 $3,155,000 $286,818 $7,253 3.28%
$150k-250k 10 $3,530,000 $353,000 $5,791 2.62%
$50k or less 7 $1,645,000 $235,000 $5,652 2.96%
$250k+ 2 $960,000 $480,000 $5,824 2.37%

Chu & Associates lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $50k-75k, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 12 $4,270,000 $355,833 $6,513 2.99%
20-30% 10 $3,080,000 $308,000 $6,143 2.77%
45% 6 $2,250,000 $375,000 $6,725 3.21%
38% 5 $1,185,000 $237,000 $5,975 3.25%
43% 5 $1,445,000 $289,000 $7,267 3.02%
<20% 4 $1,170,000 $292,500 $5,135 2.84%
40% 4 $1,850,000 $462,500 $6,613 2.94%
42% 4 $1,720,000 $430,000 $6,109 3.03%
44% 4 $1,670,000 $417,500 $5,284 3.00%
36% 3 $1,485,000 $495,000 $4,838 2.71%
37% 3 $695,000 $231,667 $5,721 2.49%
39% 3 $1,405,000 $468,333 $6,242 3.13%
46% 3 $895,000 $298,333 $8,753 3.16%
41% 1 $425,000 $425,000 $7,067 3.38%

Chu & Associates lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 10 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not provided 44 $15,590,000 $354,318 $5,943 2.84%
White 20 $6,790,000 $339,500 $6,854 3.24%
Asian 2 $790,000 $395,000 $6,239 2.87%
Black 2 $620,000 $310,000 $7,237 3.13%

Approval Rates

Total approvals of all applications
78.91%

Chu & Associates has a below average approval rate.

Pick Rate

Approvals leading to origination
92.61%

Chu & Associates has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 68 $23,790,000 $349,853

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
68 $23,790,000 $349,853

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 14 $4,260,000 $304,286 $5,927 2.87%
40-60% 26 $9,230,000 $355,000 $6,126 2.88%
60-80% 23 $8,295,000 $360,652 $6,561 3.08%
80-100% 4 $1,770,000 $442,500 $6,477 3.37%
Under 20% 1 $235,000 $235,000 $6,463 2.25%