Pacific Equity And Loan Mortgage Rates, Fees & Info

FEDERAL WAY, WA

LEI: 98450064457HF042AA24

Tax ID: 83-2159068

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

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Mortgage Data

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

    Pacific Equity And Loan is a smaller mortgage company specializing in Home Purchase loans. Pacific Equity And Loan has a high proportion of conventional loans.

    Pacific Equity And Loan 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.

    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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    Originations

    133

    Origination Dollar Volume (All Markets)

    $44,925,000

    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
    Outside of Metro Areas 133 $44,925,000 $337,782 $0 11.04%
    Pacific Equity And Loan's top markets include

    Their top states include:
  • Washington (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 133 $44,925,000 $337,782 $0 11.04%

    For 2020, Pacific Equity And Loan's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 127 $43,255,000 $340,591 $0 11.09%
    Cash Out Refi 5 $1,265,000 $253,000 $0 10.20%
    Refi 1 $405,000 $405,000 $0 9.00%

    For 2020, Pacific Equity And Loan's most frequently cited loan purpose was Home Purchase, with 127 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 87 $29,915,000 $343,851 $0 11.05%
    1 Year 44 $14,810,000 $336,591 $0 11.20%
    5 Year 2 $200,000 $100,000 $0 7.00%

    For 2020, Pacific Equity And Loan's most frequently cited loan duration was Other, with 87 originations. The 2nd most popular length was 1 Year, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 122 $43,290,000 $354,836
    6-7% 2 $200,000 $100,000
    5-6% 1 $105,000 $105,000
    7-8% 1 $95,000 $95,000

    During 2020, Pacific Equity And Loan's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 52 $14,490,000 $278,654 $0 11.22%
    $100k-200k 29 $4,295,000 $148,103 $0 10.96%
    $100,000 or less 24 $1,230,000 $51,250 $0 10.95%
    $400k-600k 14 $6,730,000 $480,714 $0 10.66%
    $600k-1MM 8 $5,640,000 $705,000 $0 11.11%
    $1MM+ 6 $12,540,000 $2,090,000 $0 10.96%

    2020 saw Pacific Equity And Loan place emphasis on $200k-400k loans with 52 originations, totaling $14,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $15,055,000 $485,645 $0 11.01%
    $50k or less 15 $2,825,000 $188,333 $0 10.66%
    $75k-100k 12 $2,930,000 $244,167 $0 10.30%
    $150k-250k 9 $2,295,000 $255,000 $0 11.11%
    $50k-75k 7 $1,395,000 $199,286 $0 11.67%
    $250k+ 1 $135,000 $135,000 $0 12.00%

    Pacific Equity And Loan lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $50k or less, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 23 $11,965,000 $520,217 $0 10.91%
    20-30% 14 $4,060,000 $290,000 $0 10.61%
    <20% 10 $1,550,000 $155,000 $0 11.55%
    30-36% 7 $3,345,000 $477,857 $0 9.96%
    50-60% 3 $725,000 $241,667 $0 10.99%
    44% 2 $620,000 $310,000 $0 11.50%
    41% 1 $145,000 $145,000 $0 12.00%
    42% 1 $225,000 $225,000 $0 11.50%
    37% 1 $175,000 $175,000 $0 12.00%
    45% 1 $45,000 $45,000 $0 11.50%
    46% 1 $435,000 $435,000 $0 10.50%
    39% 1 $275,000 $275,000 $0 9.00%
    38% 1 $125,000 $125,000 $0 9.99%

    Pacific Equity And Loan lent most frequently to those with DTI ratios of >60%, with 23 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 90 $31,150,000 $346,111 $0 11.03%
    Not provided 17 $6,125,000 $360,294 $0 11.22%
    Asian 13 $4,695,000 $361,154 $0 10.79%
    American Indian 7 $1,735,000 $247,857 $0 11.54%
    Black 5 $1,115,000 $223,000 $0 10.80%
    Native Hawaiian or Islander 1 $105,000 $105,000 $0 9.50%

    Approval Rates

    Total approvals of all applications
    100.00%

    Pacific Equity And Loan 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
    90.98%

    Pacific Equity And Loan has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 133 $44,925,000 $337,782

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $515,000 $171,667
    Single Family (1-4 Units):Site-Built 130 $44,410,000 $341,615

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $85,000 $85,000 $0 12.00%
    60-80% 3 $845,000 $281,667 $0 10.66%
    Over 100% 1 $345,000 $345,000 $0 10.99%
    Under 20% 1 $35,000 $35,000 $0 9.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Pacific Home Loans, Inc Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    Pacific Home Loans, Inc VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    Pacific Home Loans, Inc VA mortgage Trouble during payment process 2 50.0%