Pacific Lending Mortgage Rates, Fees & Info
IRVINE, CALEI: 2549007IU6SKFLLNKZ07
Tax ID: 45-3726636
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Mortgage Data
Review & Overview
Pacific Lending is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Pacific Lending has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Phoenix, and Urban Honolulu among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)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 an average 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.93% | 4/22/24 |
| 30 Year Conventional Refi | 6.68% | 4/22/24 |
| 30 Year Cash-out Refi | 7.06% | 4/22/24 |
| 30 Year FHA Purchase | 7.53% | 4/22/24 |
| 30 Year FHA Refi | 7.15% | 4/22/24 |
| 30 Year VA Purchase | 6.38% | 4/22/24 |
| 30 Year VA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 5.68% | 4/22/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
714Origination Dollar Volume (All Markets)
$247,330,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 179 | $75,755,000 | $423,212 | $8,326 | 4.36% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 227 | $70,865,000 | $312,181 | $7,842 | 4.33% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 93 | $39,275,000 | $422,312 | $7,553 | 4.12% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 101 | $26,185,000 | $259,257 | $5,793 | 4.18% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 18 | $8,560,000 | $475,556 | $12,802 | 4.41% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 14 | $4,050,000 | $289,286 | $6,874 | 4.07% |
| Hilo, HI (FHA|USDA|VA) | 10 | $3,690,000 | $369,000 | $9,308 | 4.19% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 5 | $1,995,000 | $399,000 | $8,746 | 4.25% |
| Hobbs, NM (FHA|USDA|VA) | 11 | $1,745,000 | $158,636 | $6,694 | 4.76% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 2 | $1,220,000 | $610,000 | $15,897 | 3.38% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $7,028 | 4.03% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $6,522 | 4.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $7,768 | 4.67% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $5,811 | 4.53% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $7,657 | 4.46% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $9,512 | 4.06% |
| Payson, AZ (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $5,060 | 4.25% |
| Outside of Metro Areas | 2 | $660,000 | $330,000 | $9,778 | 3.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,966 | 3.75% |
| CHICO, CA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $8,330 | 4.31% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,026 | 4.13% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,068 | 4.44% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $8,079 | 3.88% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,595 | 3.50% |
| BEND, OR (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $4,300 | 3.94% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,599 | 4.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,445 | 4.38% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,900 | 3.49% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,808 | 4.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,391 | 4.25% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,465 | 4.13% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,505 | 4.25% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,423 | 4.49% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,019 | 4.38% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,800 | 4.63% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,363 | 3.88% |
| Astoria, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,951 | 4.99% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,159 | 4.63% |
| Newport, OR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,565 | 5.38% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,363 | 5.50% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,601 | 4.13% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,733 | 4.50% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,271 | 3.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 463 | $160,845,000 | $347,397 | $5,788 | 4.34% |
| FHA | 251 | $86,485,000 | $344,562 | $11,177 | 4.18% |
For 2019, Pacific Lending's most frequently originated type of loan was Conventional, with 463 originations. Their 2nd most popular type was FHA, with 251 originations.
Loan Reason
For 2019, Pacific Lending's most frequently cited loan purpose was Home Purchase, with 317 originations. The 2nd most popular reason was Refi, with 200 originations.
Loan Duration/Length
For 2019, Pacific Lending's most frequently cited loan duration was 30 Year, with 679 originations. The 2nd most popular length was 15 Year, with 21 originations.
Origination Fees/Closing Costs
Pacific Lending's average total fees were $7,806, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 391 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 337 | $113,505,000 | $336,810 |
| 3-4% | 293 | $104,865,000 | $357,901 |
| 5-6% | 81 | $27,705,000 | $342,037 |
| 2.5-3% | 2 | $810,000 | $405,000 |
| <2.5% | 1 | $445,000 | $445,000 |
During 2019, Pacific Lending's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 4-5%, with 337 originations.
Loan Sizing
2019 saw Pacific Lending place emphasis on $200k-400k loans with 402 originations, totaling $121,120,000 in origination value.
Applicant Income
Pacific Lending lent most frequently to those with incomes in the $100k-150k range, with 185 originations. The second most popular income band? $75k-100k, with 162 originations.
Applicant Debt to Income Ratio
Pacific Lending lent most frequently to those with DTI ratios of 50-60%, with 91 originations. The next most common DTI ratio? 30-36%, with 83 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.58%
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 origination68.35%
Pacific Lending has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 714 | $247,330,000 | $346,401 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 11 | $3,135,000 | $285,000 |
| Single Family (1-4 Units):Site-Built | 703 | $244,195,000 | $347,361 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Pacific Home Loans, Inc | VA mortgage | Closing on a mortgage | 1 | 100.0% |