Pacific Lending Mortgage Rates, Fees & Info

IRVINE, CA

LEI: 2549007IU6SKFLLNKZ07

Tax ID: 45-3726636

1 stars - Updated: 10/29/24 - out of 5 stars, based on 19 reviews

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

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Mortgage 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% 10/29/24
30 Year Conventional Refi 6.68% 10/29/24
30 Year Cash-out Refi 7.06% 10/29/24
30 Year FHA Purchase 7.53% 10/29/24
30 Year FHA Refi 7.15% 10/29/24
30 Year VA Purchase 6.38% 10/29/24
30 Year VA Refi 6.27% 10/29/24
15 Year Conventional Purchase 5.68% 10/29/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

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.

    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%