Luso Mortgage Rates, Fees & Info
Ludlow, MALEI: 549300ULM1VXY8SV3Z64
Tax ID: 04-6279799
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Luso is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Luso has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Boston, Norwich, and Naples among others. We have data for 6 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 a below 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% | 12/2/24 |
| 30 Year Conventional Refi | 6.00% | 12/2/24 |
| 30 Year Cash-out Refi | 5.87% | 12/2/24 |
| 15 Year Conventional Purchase | 3.25% | 12/2/24 |
| 15 Year Conventional Refi | 5.65% | 12/2/24 |
| 15 Year Cash-out Refi | 5.65% | 12/2/24 |
| 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
198Origination Dollar Volume (All Markets)
$40,810,000Awards
LUSO - 2020
LUSO is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for LUSO?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 191 | $39,705,000 | $207,880 | $3,427 | 3.18% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,610 | 3.67% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,034 | 3.13% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,746 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,408 | 3.63% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,395 | 2.50% |
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.
Similarity Rank: 174
Similarity Rank: 259
Similarity Rank: 357
Similarity Rank: 378
Similarity Rank: 414
Similarity Rank: 490
Similarity Rank: 510
Similarity Rank: 705
Similarity Rank: 912
Similarity Rank: 986
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 198 | $40,810,000 | $206,111 | $3,408 | 3.18% |
For 2020, Luso's most frequently originated type of loan was Conventional, with 198 originations.
Loan Reason
For 2020, Luso's most frequently cited loan purpose was Cash Out Refi, with 68 originations. The 2nd most popular reason was Refi, with 56 originations.
Loan Duration/Length
For 2020, Luso's most frequently cited loan duration was 15 Year, with 61 originations. The 2nd most popular length was 30 Year, with 55 originations.
Origination Fees/Closing Costs
Luso's average total fees were $4,426, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.
Interest Rates
During 2020, Luso's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 85 originations.
Loan Sizing
2020 saw Luso place emphasis on $200k-400k loans with 84 originations, totaling $23,240,000 in origination value.
Applicant Income
Luso lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $50k-75k, with 42 originations.
Applicant Debt to Income Ratio
Luso lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.23%
Luso has an average approval rate.
Pick Rate
Approvals leading to origination79.29%
Luso has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 198 | $40,810,000 | $206,111 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $225,000 | $225,000 |
| Single Family (1-4 Units):Site-Built | 197 | $40,585,000 | $206,015 |