Point Mortgage Rates, Fees & Info
Chula Vista, CALEI: 2549007JZSAICH4GZJ60
Tax ID: 65-1059543
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Point Mortgage is a smaller mortgage company specializing in Home Purchase loans. Point Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Diego, Miami, Riverside, Chicago, and Bakersfield among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)Point Mortgage 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. Point Mortgage 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.
Originations
910Origination Dollar Volume (All Markets)
$350,810,000Awards
POINT Mortgage - 2023
POINT Mortgage is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for POINT Mortgage?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Point Mortgage's average 30 year fixed mortgage rate was
6.34%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.14%.
Relative Fees (Closing Costs)
Point Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,823.
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 |
|---|---|---|---|---|---|
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 210 | $132,690,000 | $631,857 | $16,093 | 6.52% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 161 | $49,635,000 | $308,292 | $9,225 | 5.32% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 120 | $49,450,000 | $412,083 | $11,784 | 6.55% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 183 | $48,805,000 | $266,694 | $6,808 | 6.41% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 76 | $20,960,000 | $275,789 | $9,014 | 6.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 13 | $7,045,000 | $541,923 | $11,727 | 6.42% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 17 | $3,675,000 | $216,176 | $5,558 | 6.59% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $3,415,000 | $227,667 | $7,811 | 4.71% |
| PANAMA CITY, FL (FHA|USDA|VA) | 17 | $3,375,000 | $198,529 | $10,074 | 5.66% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $2,245,000 | $320,714 | $8,770 | 6.21% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $2,215,000 | $738,333 | $17,021 | 6.87% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $11,207 | 7.22% |
| Heber, UT (FHA|USDA|VA) | 1 | $1,625,000 | $1,625,000 | $27,125 | 8.00% |
| EL CENTRO, CA (FHA|USDA|VA) | 5 | $1,585,000 | $317,000 | $10,511 | 6.90% |
| Key West, FL (FHA|USDA|VA) | 3 | $1,495,000 | $498,333 | $22,275 | 4.83% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $1,315,000 | $438,333 | $7,680 | 6.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $1,240,000 | $310,000 | $5,708 | 7.09% |
| Outside of Metro Areas | 5 | $905,000 | $181,000 | $4,252 | 6.05% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $15,206 | 6.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $9,736 | 7.25% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $13,113 | 7.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $5,835 | 6.37% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $15,261 | 6.54% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $10,543 | 7.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $13,086 | 5.88% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $5,177 | 7.13% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $6,761 | 7.13% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $14,848 | 6.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 7.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $12,564 | 7.19% |
| Wilson, NC (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,880 | 6.94% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $32,148 | 5.38% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $11,044 | 7.25% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,916 | 7.19% |
| Kingsville, TX (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,272 | 5.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $8,969 | 6.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $11,584 | 6.13% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,844 | 6.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $16,616 | 6.75% |
| DANVILLE, IL (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $4,068 | 9.13% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,141 | 6.99% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $10,191 | 5.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,873 | 5.63% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,997 | 6.99% |
| FORT WAYNE, IN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,348 | 8.50% |
| YUMA, AZ (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $7,237 | 6.56% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,867 | 6.99% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,499 | 3.13% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,988 | 5.99% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $13,221 | 6.38% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,119 | 6.75% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,707 | 5.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,119 | 6.88% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,174 | 6.13% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,916 | 7.50% |
| Ottawa, IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $2,426 | 3.63% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,829 | 8.13% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,850 | 7.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,296 | 6.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against POINT Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 24
Similarity Rank: 45
Similarity Rank: 46
Similarity Rank: 55
Similarity Rank: 72
Similarity Rank: 76
Similarity Rank: 93
Similarity Rank: 136
Similarity Rank: 258
Similarity Rank: 261
Product Mix
For 2023, Point Mortgage's most frequently originated type of loan was Conventional, with 635 originations. Their 2nd most popular type was FHA, with 217 originations.
Loan Reason
For 2023, Point Mortgage's most frequently cited loan purpose was Home Purchase, with 833 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.
Loan Duration/Length
For 2023, Point Mortgage's most frequently cited loan duration was 30 Year, with 887 originations. The 2nd most popular length was 5 Year, with 10 originations.
Origination Fees/Closing Costs
Point Mortgage's average total fees were $10,823, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 326 originations.
Interest Rates
During 2023, Point Mortgage's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 411 originations.
Loan Sizing
2023 saw Point Mortgage place emphasis on $200k-400k loans with 323 originations, totaling $97,725,000 in origination value.
Applicant Income
Point Mortgage lent most frequently to those with incomes in the $100k-150k range, with 303 originations. The second most popular income band? $150k-250k, with 221 originations.
Applicant Debt to Income Ratio
Point Mortgage lent most frequently to those with DTI ratios of 50-60%, with 119 originations. The next most common DTI ratio? 30-36%, with 102 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.25%
Point Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination58.02%
Point Mortgage 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 | 910 | $350,810,000 | $385,505 |