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We analyzed every closed loan from Luminate Home Loans — 7.6k loans across 11k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Mediocre
vs. all lenders
Pull Through
Strong
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo · USDA
Place
Strong
National · 49 mkts
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 58 basis points above market average
- Higher than average fees ($4,167)
Explore another lender or local market
Report Card
Luminate Home Loans, Inc. performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Below peers +58.1 bps above market avg | |
Pull Through Closing strength | Highly Competitive Top 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Highly Competitive Top 40% of lenders | |
Jumbo | Market Leader Top 20% of lenders | |
USDA | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 5,157 | 68.2% | +0.541%Above | $4,077Fees | ||||
FHA Loans | 1,656 | 21.9% | +0.910%Above | $4,531Fees | ||||
VA Loans | 539 | 7.1% | +0.123%Above | $4,643Fees | ||||
Jumbo Loans | 157 | 2.1% | +0.466%Above | $3,211Fees | ||||
USDA Loans | 52 | 0.7% | +0.721%Above | $3,506Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 6,683 | 88.4% | +0.600%Above | $4,265Fees | ||||
Refinance | 878 | 11.6% | +0.435%Above | $3,415Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
7,561
Applications
10,812
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
+0.581%
vs. market APOR
Avg Net Fees
$4,167
Origination − Credits
Pullthrough Rate
69.9%
Applications → Closed
Typical Borrower
Avg Loan Amount
$384,448
Avg Borrower Income
$150,074
Avg Property Value
$482,504
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
50
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Minneapolis, MN-WIMSA
Volume: 1,130Mix: 14.95%of portfolio
Place
Exceptional2
Oklahoma City, OK, OKMSA
Volume: 316Mix: 4.18%of portfolio
Place
Exceptional3
Greenville, SCMSA
Volume: 200Mix: 2.65%of portfolio
Place
Exceptional4
Kokomo, IN, INMSA
Volume: 54Mix: 0.71%of portfolio
Place
Strong5
Denver, COMSA
Volume: 357Mix: 4.72%of portfolio
Place
Strong6
Tacoma, WAMSA
Volume: 111Mix: 1.47%of portfolio
Place
Strong7
Las Vegas, NVMSA
Volume: 174Mix: 2.30%of portfolio
Place
Strong8
Little Rock, ARMSA
Volume: 96Mix: 1.27%of portfolio
Place
Strong9
Spokane, WAMSA
Volume: 82Mix: 1.08%of portfolio
Place
Strong10
Tulsa, OK, OKMSA
Volume: 163Mix: 2.16%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
MNState
Volume: 1,296Mix: 17.14%of portfolio
Place
Exceptional2
OKState
Volume: 533Mix: 7.05%of portfolio
Place
Exceptional3
COState
Volume: 544Mix: 7.19%of portfolio
Place
Strong4
WAState
Volume: 399Mix: 5.28%of portfolio
Place
Strong5
SCState
Volume: 279Mix: 3.69%of portfolio
Place
Strong6
NVState
Volume: 209Mix: 2.76%of portfolio
Place
Strong7
NHState
Volume: 142Mix: 1.88%of portfolio
Place
Strong8
ARState
Volume: 209Mix: 2.76%of portfolio
Place
Strong9
CAState
Volume: 578Mix: 7.64%of portfolio
Place
Strong10
VTState
Volume: 114Mix: 1.51%of portfolio
Place
StrongShowing 10 of 41 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.