Pacific Lending Mortgage Rates, Fees & Info

IRVINE, CA

LEI: 2549007IU6SKFLLNKZ07

Tax ID: 45-3726636

1 stars - Updated: 12/2/24

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

Review & Overview

Pacific Lending is a smaller mortgage company specializing in Home Purchase loans. Pacific Lending has a high proportion of conventional loans. They have a a high proportion of FHA loans.

Pacific Lending 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. Pacific Lending is typically a high 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 relatively high 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	6.93%	12/2/24
30 Year Conventional Refi	6.68%	12/2/24
30 Year Cash-out Refi	7.06%	12/2/24
30 Year FHA Purchase	7.53%	12/2/24
30 Year FHA Refi	7.15%	12/2/24
30 Year VA Purchase	6.38%	12/2/24
30 Year VA Refi	6.27%	12/2/24
15 Year Conventional Purchase	5.68%	12/2/24
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.

Pacific Lending Mortgage Calculator

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This is not an official calculator from Pacific Lending. 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

349

Origination Dollar Volume (All Markets)

$135,315,000

Relative Rate

Pacific Lending's average 30 year fixed mortgage rate was 6.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.32%.

Relative Fees (Closing Costs)

Pacific Lending's average total fees/closing costs for a 30 year fixed rate mortgage were $14,044.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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	349	$135,315,000	$387,722	$13,993	6.79%

Pacific Lending's top markets include

Their top states include:

California (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Hawaii (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Pacific Lending based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

University of Hawaii Federal Credit Union
Similarity Rank: 39

Educational Employees Credit Union
Similarity Rank: 66

Los Angeles Federal Credit Union
Similarity Rank: 72

Central Pacific Bank
Similarity Rank: 72

MISSION
Similarity Rank: 93

VENTURA COUNTY
Similarity Rank: 96

American Savings Bank, FSB
Similarity Rank: 96

HAWAIIUSA FEDERAL CREDIT UNION
Similarity Rank: 112

HAWAII STATE FEDERAL CREDIT UNION
Similarity Rank: 112

Territorial Savings Bank
Similarity Rank: 124

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	171	$62,255,000	$364,064	$10,238	6.99%
FHA	143	$57,055,000	$398,986	$18,048	6.62%
VA	35	$16,005,000	$457,286	$15,768	6.57%

For 2023, Pacific Lending's most frequently originated type of loan was Conventional, with 171 originations. Their 2nd most popular type was FHA, with 143 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	300	$117,980,000	$393,267	$14,218	6.80%
Cash Out Refi	40	$14,350,000	$358,750	$12,860	6.74%
Refi	9	$2,985,000	$331,667	$11,528	6.90%

For 2023, Pacific Lending's most frequently cited loan purpose was Home Purchase, with 300 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	345	$134,425,000	$389,638	$14,044	6.80%
15 Year	2	$540,000	$270,000	$10,712	5.75%
20 Year	1	$165,000	$165,000	$8,519	7.88%
Other	1	$185,000	$185,000	$8,382	6.62%

For 2023, Pacific Lending's most frequently cited loan duration was 30 Year, with 345 originations. The 2nd most popular length was 15 Year, with 2 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$5k+	240	$98,410,000	$410,042
$1k-2k	36	$16,010,000	$444,722
$3k-4k	31	$8,155,000	$263,065
$4k-5k	27	$7,195,000	$266,481
$2k-3k	13	$5,135,000	$395,000
$<1k	2	$410,000	$205,000

Pacific Lending's average total fees were $14,044, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 240 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
6-7%	173	$65,025,000	$375,867
7-8%	113	$46,975,000	$415,708
5-6%	51	$18,595,000	$364,608
Over 8%	10	$3,940,000	$394,000
3-4%	1	$495,000	$495,000
4-5%	1	$285,000	$285,000

During 2023, Pacific Lending's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 6-7%, with 173 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	170	$50,440,000	$296,706	$11,828	6.79%
$400k-600k	92	$44,000,000	$478,261	$16,027	6.82%
$600k-1MM	48	$33,660,000	$701,250	$23,182	6.84%
$100k-200k	38	$6,160,000	$162,105	$6,784	6.69%
$1MM+	1	$1,055,000	$1,055,000	$27,750	7.75%

2023 saw Pacific Lending place emphasis on $200k-400k loans with 170 originations, totaling $50,440,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	105	$43,095,000	$410,429	$14,458	6.85%
$75k-100k	73	$23,375,000	$320,205	$12,940	6.72%
$150k-250k	72	$37,610,000	$522,361	$17,799	6.95%
$50k-75k	59	$15,175,000	$257,203	$11,109	6.51%
$250k+	23	$13,055,000	$567,609	$15,516	7.41%
$50k or less	17	$3,005,000	$176,765	$7,472	6.30%

Pacific Lending lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $75k-100k, with 73 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
50-60%	62	$27,040,000	$436,129	$18,663	6.63%
30-36%	40	$16,310,000	$407,750	$12,538	7.00%
20-30%	36	$12,560,000	$348,889	$10,476	7.03%
49%	22	$9,780,000	$444,545	$14,815	6.68%
40%	21	$6,575,000	$313,095	$10,753	6.93%
47%	19	$8,665,000	$456,053	$16,706	7.06%
48%	18	$5,840,000	$324,444	$11,031	6.76%
<20%	17	$6,365,000	$374,412	$8,914	7.43%
45%	16	$7,240,000	$452,500	$15,209	6.66%
43%	15	$5,515,000	$367,667	$14,041	6.26%
46%	15	$5,695,000	$379,667	$17,587	6.31%
42%	14	$5,550,000	$396,429	$14,085	6.78%
41%	12	$4,650,000	$387,500	$15,731	6.94%
38%	12	$4,080,000	$340,000	$13,033	6.80%
37%	11	$3,425,000	$311,364	$10,780	6.69%
44%	10	$3,050,000	$305,000	$12,972	6.39%
39%	5	$2,215,000	$443,000	$18,117	6.63%
36%	4	$760,000	$190,000	$7,376	6.75%

Pacific Lending lent most frequently to those with DTI ratios of 50-60%, with 62 originations. The next most common DTI ratio? 30-36%, with 40 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	304	$114,690,000	$377,270	$13,496	6.81%
Asian	20	$8,520,000	$426,000	$16,211	6.51%
Black	14	$6,530,000	$466,429	$17,254	6.94%
Native Hawaiian or Islander	8	$3,710,000	$463,750	$19,874	6.56%
Asian Indian	1	$985,000	$985,000	$20,512	7.63%
American Indian	2	$880,000	$440,000	$17,732	6.69%

Approval Rates

Total approvals of all applications
100.00%

Pacific Lending 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
87.68%

Pacific Lending has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	349	$135,315,000	$387,722

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	349	$135,315,000	$387,722

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	15	$3,285,000	$219,000	$6,060	6.57%
40-60%	23	$7,915,000	$344,130	$11,738	6.81%
60-80%	84	$34,170,000	$406,786	$13,248	7.06%
80-100%	219	$86,265,000	$393,904	$14,792	6.73%
Over 100%	7	$3,475,000	$496,429	$23,473	6.05%
Under 20%	1	$205,000	$205,000	$6,043	6.88%