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, Home Improvement, Refi, and Home Purchase loans. Luso has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Barnstable Town, Hartford, Boston, and Worcester among others. We have data for 16 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% | 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
185Origination Dollar Volume (All Markets)
$45,165,000Awards
LUSO - 2021
LUSO is a 2021 , due to their low .
For 2021, 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) | 159 | $37,215,000 | $234,057 | $3,567 | 2.92% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,785,000 | $595,000 | $4,347 | 3.33% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $4,748 | 3.03% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $3,484 | 3.09% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $4,769 | 2.92% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,077 | 3.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,300 | 2.88% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,503 | 2.75% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,450 | 3.13% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,962 | 2.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,132 | 3.13% |
| Keene, NH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,944 | 3.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,987 | 3.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,563 | 2.88% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,092 | 2.38% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $5,004 | 2.63% |
Their top states include:
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: 192
Similarity Rank: 266
Similarity Rank: 336
Similarity Rank: 368
Similarity Rank: 400
Similarity Rank: 464
Similarity Rank: 522
Similarity Rank: 525
Similarity Rank: 595
Similarity Rank: 646
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 185 | $45,165,000 | $244,135 | $3,677 | 2.93% |
For 2021, Luso's most frequently originated type of loan was Conventional, with 185 originations.
Loan Reason
For 2021, Luso's most frequently cited loan purpose was Cash Out Refi, with 55 originations. The 2nd most popular reason was Home Improvement, with 45 originations.
Loan Duration/Length
For 2021, Luso's most frequently cited loan duration was Other, with 59 originations. The 2nd most popular length was 30 Year, with 50 originations.
Origination Fees/Closing Costs
Luso's average total fees were $4,389, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 128 originations.
Interest Rates
During 2021, Luso's average interest rate for loans was 2.88%, while their most frequently originated rate bucket for loans was 2.5-3%, with 82 originations.
Loan Sizing
2021 saw Luso place emphasis on $200k-400k loans with 83 originations, totaling $23,715,000 in origination value.
Applicant Income
Luso lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $150k-250k, with 42 originations.
Applicant Debt to Income Ratio
Luso lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.22%
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 origination62.70%
Luso has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 185 | $45,165,000 | $244,135 |