Castparts Employees Mortgage Rates, Fees & Info
Portland, ORLEI: 549300V1IRRYSYRSPU54
Tax ID: 93-0509316
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Mortgage Data
Review & Overview
Castparts Employees is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Castparts Employees has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top two markets are Portland and Longview .Castparts Employees has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Castparts Employees 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.50% | 12/16/24 |
| 30 Year Cash-out Refi | 6.70% | 12/16/24 |
| 15 Year Conventional Purchase | 4.80% | 12/16/24 |
| 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. | ||
Castparts Employees Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
53Origination Dollar Volume (All Markets)
$13,615,000Awards
CASTPARTS EMPLOYEES - 2020
CASTPARTS EMPLOYEES is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 52 | $13,580,000 | $261,154 | $3,796 | 3.58% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $465 | 4.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against CASTPARTS EMPLOYEES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $12,540,000 | $250,800 | $3,181 | 3.64% |
| USDA | 2 | $630,000 | $315,000 | $8,558 | 3.06% |
| VA | 1 | $445,000 | $445,000 | $21,079 | 3.00% |
For 2020, Castparts Employees's most frequently originated type of loan was Conventional, with 50 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2020, Castparts Employees's most frequently cited loan purpose was Refi, with 23 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
For 2020, Castparts Employees's most frequently cited loan duration was 30 Year, with 41 originations. The 2nd most popular length was 10 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 43 | $12,165,000 | $282,907 |
| $<1k | 8 | $700,000 | $87,500 |
| $2k-3k | 1 | $445,000 | $445,000 |
| $3k-4k | 1 | $305,000 | $305,000 |
Castparts Employees's average total fees were $4,394, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 43 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 33 | $9,845,000 | $298,333 |
| 2.5-3% | 11 | $3,025,000 | $275,000 |
| 4-5% | 7 | $555,000 | $79,286 |
| <2.5% | 1 | $85,000 | $85,000 |
| 5-6% | 1 | $105,000 | $105,000 |
During 2020, Castparts Employees's average interest rate for loans was 3.42%, while their most frequently originated rate bucket for loans was 3-4%, with 33 originations.
Loan Sizing
2020 saw Castparts Employees place emphasis on $200k-400k loans with 33 originations, totaling $9,645,000 in origination value.
Applicant Income
Castparts Employees lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
Castparts Employees lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.62%
Castparts Employees has a below average approval rate.
Pick Rate
Approvals leading to origination56.60%
Castparts Employees 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 | 53 | $13,615,000 | $256,887 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $130,000 | $65,000 |
| Single Family (1-4 Units):Site-Built | 51 | $13,485,000 | $264,412 |