Luso Mortgage Rates, Fees & Info

Ludlow, MA

LEI: 549300ULM1VXY8SV3Z64

Tax ID: 04-6279799

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Luso is a smaller mortgage company specializing in Home Purchase loans. Luso has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Barnstable Town, and Keene among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Luso 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. Luso 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.45% 11/17/24
    30 Year Conventional Refi 6.00% 11/17/24
    30 Year Cash-out Refi 5.87% 11/17/24
    15 Year Conventional Purchase 3.25% 11/17/24
    15 Year Conventional Refi 5.65% 11/17/24
    15 Year Cash-out Refi 5.65% 11/17/24
    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.

    Luso Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Luso. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    156

    Origination Dollar Volume (All Markets)

    $27,450,000

    Awards

    LUSO 30 Year Conventional Loans gold LUSO 30 Year Conventional Loans gold
    Show all (2) awards

    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
    SPRINGFIELD, MA (FHA|USDA|VA) 152 $26,660,000 $175,395 $2,791 4.16%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $370,000 $185,000 $2,477 3.56%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $295,000 $295,000 $3,214 3.75%
    Keene, NH (FHA|USDA|VA) 1 $125,000 $125,000 $5,613 4.38%
    Luso's top markets include Springfield, Hartford, Barnstable Town, and Keene among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against LUSO based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POLISH NATIONAL
    Similarity Rank: 48
    Florence Bank
    Similarity Rank: 96
    HOLYOKE
    Similarity Rank: 132
    LUSO
    Similarity Rank: 164
    PeoplesBank
    Similarity Rank: 168
    Westfield Bank
    Similarity Rank: 204
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 304
    Workers Credit Union
    Similarity Rank: 308
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 345
    Shamrock Home Loans, Inc.
    Similarity Rank: 357

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 156 $27,450,000 $175,962 $2,808 4.16%

    For 2019, Luso's most frequently originated type of loan was Conventional, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $11,795,000 $262,111 $4,677 3.89%
    Home Improvement 37 $5,225,000 $141,216 $2,203 4.19%
    Cash Out Refi 28 $5,400,000 $192,857 $3,220 3.80%
    Other 25 $1,615,000 $64,600 $468 4.98%
    Refi 21 $3,415,000 $162,619 $2,227 4.14%

    For 2019, Luso's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Home Improvement, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 53 $11,835,000 $223,302 $4,209 3.84%
    15 Year 25 $2,965,000 $118,600 $1,610 4.42%
    10 Year 24 $1,480,000 $61,667 $615 4.26%
    30+ year 18 $6,320,000 $351,111 $5,313 4.05%
    Other 16 $3,510,000 $219,375 $3,042 3.86%
    20 Year 12 $980,000 $81,667 $567 5.57%
    5 Year 8 $360,000 $45,000 $374 3.81%

    For 2019, Luso's most frequently cited loan duration was 30 Year, with 53 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 109 $15,735,000 $144,358
    $1k-2k 20 $4,340,000 $217,000
    $2k-3k 12 $3,300,000 $275,000
    $3k-4k 7 $1,935,000 $276,429
    $4k-5k 4 $1,200,000 $300,000

    Luso's average total fees were $4,209, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 109 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 81 $16,545,000 $204,259
    4-5% 55 $9,185,000 $167,000
    5-6% 14 $1,260,000 $90,000
    6-7% 4 $250,000 $62,500
    2.5-3% 2 $210,000 $105,000

    During 2019, Luso's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 50 $7,280,000 $145,600 $3,179 3.90%
    $200k-400k 50 $14,360,000 $287,200 $4,396 3.93%
    $100,000 or less 48 $2,060,000 $42,917 $452 4.68%
    $400k-600k 8 $3,750,000 $468,750 $5,337 4.02%

    2019 saw Luso place emphasis on $100k-200k loans with 50 originations, totaling $7,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $9,570,000 $208,043 $3,106 4.23%
    $75k-100k 34 $4,820,000 $141,765 $2,566 4.20%
    $50k-75k 28 $3,520,000 $125,714 $2,580 3.98%
    $150k-250k 24 $6,100,000 $254,167 $3,107 3.97%
    $50k or less 18 $1,750,000 $97,222 $2,256 4.35%
    $250k+ 4 $1,200,000 $300,000 $4,552 4.03%

    Luso lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $75k-100k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $7,600,000 $172,727 $2,961 4.20%
    30-36% 28 $4,800,000 $171,429 $3,329 3.92%
    50-60% 15 $2,525,000 $168,333 $2,053 4.02%
    <20% 9 $705,000 $78,333 $1,073 4.08%
    39% 8 $1,370,000 $171,250 $2,676 3.97%
    >60% 5 $705,000 $141,000 $1,822 4.15%
    36% 5 $1,145,000 $229,000 $3,666 4.20%
    38% 5 $1,225,000 $245,000 $3,658 3.85%
    41% 5 $785,000 $157,000 $2,829 4.73%
    44% 5 $855,000 $171,000 $2,641 4.38%
    46% 5 $285,000 $57,000 $398 5.15%
    49% 5 $1,035,000 $207,000 $3,062 4.25%
    43% 4 $1,370,000 $342,500 $4,866 3.91%
    48% 3 $985,000 $328,333 $3,522 4.21%
    47% 2 $690,000 $345,000 $2,882 5.31%
    45% 2 $370,000 $185,000 $4,084 4.56%
    40% 2 $190,000 $95,000 $3,460 3.69%
    37% 2 $460,000 $230,000 $3,137 3.75%
    42% 1 $35,000 $35,000 $338 3.75%

    Luso lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $27,135,000 $175,065 $2,808 4.15%
    Not applicable 1 $315,000 $315,000 $0 4.95%

    Approval Rates

    Total approvals of all applications
    98.06%

    Luso has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.79%

    Luso has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 156 $27,450,000 $175,962

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 156 $27,450,000 $175,962

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $1,880,000 $72,308 $920 4.40%
    40-60% 11 $1,925,000 $175,000 $2,507 3.77%
    60-80% 55 $13,405,000 $243,727 $3,980 3.94%
    80-100% 36 $9,340,000 $259,444 $4,488 3.94%
    Under 20% 28 $900,000 $32,143 $403 4.78%