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Luminate Home Loans, Inc.
Independent Mortgage Company|Roseville, MN|National
Loans Originated
7,561
Applications
10,812
Volume
$2 billion
Offers loans directly to consumers
Overall Pricing
Mediocre
Overall Pull Through
Strong
Pricing and Pullthrough Overview
Average Rate Spread
+0.581%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$4,167
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
69.9%
Percentage of applications that result in closed loans
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)
Report Card
Luminate Home Loans, Inc. performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Mediocre | Below peers | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Exceptional | Market Leader | |
FHA | Exceptional | Market Leader | |
VA | Strong | Highly Competitive | |
Jumbo | Exceptional | Market Leader | |
USDA | Exceptional | Market Leader | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Exceptional | Market Leader | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | National · 50 metro areas · 50 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$384,448
Average Borrower Income
$150,074
Average Property Value
$482,504
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Exceptional | Mediocre | Strong | 5,157 | 68.2% | +0.541% | $4,077 |
FHA Loans | Sound | Exceptional | Mediocre | Strong | 1,656 | 21.9% | +0.910% | $4,531 |
VA Loans | Sound | Strong | Mediocre | Strong | 539 | 7.1% | +0.123% | $4,643 |
Jumbo Loans | Acceptable | Exceptional | Mediocre | Sound | 157 | 2.1% | +0.466% | $3,211 |
USDA Loans | Acceptable | Exceptional | Mediocre | Sound | 52 | 0.7% | +0.721% | $3,506 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Exceptional | Mediocre | Strong | 6,683 | 88.4% | +0.600% | $4,265 |
Refinance | Acceptable | Strong | Mediocre | Sound | 878 | 11.6% | +0.435% | $3,415 |
Geographic Coverage
Metro Areas
49
States Served
50
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Minneapolis, MN-WIMSA
Volume: 1,130Mix: 14.95%
Place Specialization
Exceptional
2
Oklahoma City, OK, OKMSA
Volume: 316Mix: 4.18%
Place Specialization
Exceptional
3
Greenville, SCMSA
Volume: 200Mix: 2.65%
Place Specialization
Exceptional
4
Kokomo, IN, INMSA
Volume: 54Mix: 0.71%
Place Specialization
Strong
5
Denver, COMSA
Volume: 357Mix: 4.72%
Place Specialization
Strong
6
Tacoma, WAMSA
Volume: 111Mix: 1.47%
Place Specialization
Strong
7
Las Vegas, NVMSA
Volume: 174Mix: 2.30%
Place Specialization
Strong
8
Little Rock, ARMSA
Volume: 96Mix: 1.27%
Place Specialization
Strong
9
Spokane, WAMSA
Volume: 82Mix: 1.08%
Place Specialization
Strong
10
Tulsa, OK, OKMSA
Volume: 163Mix: 2.16%
Place Specialization
Strong
Showing 10 of 49 metro areas
Top States by Place Specialization Score
1
MNState
Volume: 1,296Mix: 17.14%
Place Specialization
Exceptional
2
OKState
Volume: 533Mix: 7.05%
Place Specialization
Exceptional
3
COState
Volume: 544Mix: 7.19%
Place Specialization
Strong
4
WAState
Volume: 399Mix: 5.28%
Place Specialization
Strong
5
SCState
Volume: 279Mix: 3.69%
Place Specialization
Strong
6
NVState
Volume: 209Mix: 2.76%
Place Specialization
Strong
7
NHState
Volume: 142Mix: 1.88%
Place Specialization
Strong
8
ARState
Volume: 209Mix: 2.76%
Place Specialization
Strong
9
CAState
Volume: 578Mix: 7.64%
Place Specialization
Strong
10
VTState
Volume: 114Mix: 1.51%
Place Specialization
Strong
Showing 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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