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 and Cash Out Refi loans. Point Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: San Diego, Riverside, Bakersfield, Miami, and Los Angeles among others. We have data for 19 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 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.
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
1,188Origination Dollar Volume (All Markets)
$412,820,000Top 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 |
|---|---|---|---|---|---|
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 712 | $277,590,000 | $389,874 | $9,629 | 4.73% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 224 | $68,190,000 | $304,420 | $7,381 | 4.79% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 123 | $23,445,000 | $190,610 | $5,191 | 4.94% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 74 | $21,340,000 | $288,378 | $8,583 | 5.26% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 26 | $13,080,000 | $503,077 | $8,600 | 4.89% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 7 | $3,405,000 | $486,429 | $7,876 | 4.89% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $3,262 | 4.69% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $6,403 | 4.44% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $3,610 | 5.06% |
| EL CENTRO, CA (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $6,310 | 4.58% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $4,704 | 4.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $8,278 | 4.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $6,584 | 5.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,313 | 4.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,164 | 5.00% |
| MADERA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,668 | 5.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,411 | 5.13% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,222 | 5.00% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,994 | 4.25% |
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: 28
Similarity Rank: 45
Similarity Rank: 55
Similarity Rank: 90
Similarity Rank: 96
Similarity Rank: 104
Similarity Rank: 176
Similarity Rank: 210
Similarity Rank: 220
Similarity Rank: 220
Product Mix
For 2018, Point Mortgage's most frequently originated type of loan was Conventional, with 703 originations. Their 2nd most popular type was FHA, with 319 originations.
Loan Reason
For 2018, Point Mortgage's most frequently cited loan purpose was Home Purchase, with 749 originations. The 2nd most popular reason was Cash Out Refi, with 345 originations.
Loan Duration/Length
For 2018, Point Mortgage's most frequently cited loan duration was 30 Year, with 1,151 originations. The 2nd most popular length was 15 Year, with 23 originations.
Origination Fees/Closing Costs
Point Mortgage's average total fees were $8,649, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 587 originations.
Interest Rates
During 2018, Point Mortgage's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 788 originations.
Loan Sizing
2018 saw Point Mortgage place emphasis on $200k-400k loans with 553 originations, totaling $168,295,000 in origination value.
Applicant Income
Point Mortgage lent most frequently to those with incomes in the $100k-150k range, with 316 originations. The second most popular income band? $75k-100k, with 289 originations.
Applicant Debt to Income Ratio
Point Mortgage lent most frequently to those with DTI ratios of 50-60%, with 201 originations. The next most common DTI ratio? 30-36%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.48%
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 origination75.00%
Point Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2 | $830,000 | $415,000 |
| 1194.12 | 1 | $125,000 | $125,000 |
| 1290.0 | 4 | $990,000 | $247,500 |
| 1439.6 | 1 | $165,000 | $165,000 |
| 1595.0 | 10 | $3,960,000 | $396,000 |
| 1675.82 | 1 | $385,000 | $385,000 |
| 1724.0 | 1 | $75,000 | $75,000 |
| 1745.42 | 1 | $135,000 | $135,000 |
| 2008.4 | 1 | $195,000 | $195,000 |
| 2125.0 | 1 | $305,000 | $305,000 |
| 2175.0 | 1 | $455,000 | $455,000 |
| 2181.25 | 1 | $125,000 | $125,000 |
| 2366.84 | 1 | $175,000 | $175,000 |
| 250.0 | 1 | $15,000 | $15,000 |
| 2595.0 | 1 | $185,000 | $185,000 |
| 2603.0 | 1 | $255,000 | $255,000 |
| 2610.74 | 1 | $245,000 | $245,000 |
| 2646.88 | 1 | $285,000 | $285,000 |
| 2948.33 | 1 | $375,000 | $375,000 |
| 2980.0 | 1 | $285,000 | $285,000 |
| 3008.36 | 1 | $535,000 | $535,000 |
| 3107.5 | 1 | $335,000 | $335,000 |
| 3145.0 | 1 | $365,000 | $365,000 |
| 3170.0 | 1 | $385,000 | $385,000 |
| 333390.0 | 1 | $405,000 | $405,000 |
| 3660.5 | 1 | $425,000 | $425,000 |
| 4233.0 | 1 | $365,000 | $365,000 |
| 4590.8 | 1 | $155,000 | $155,000 |
| 4607.19 | 1 | $645,000 | $645,000 |
| 6060.0 | 1 | $425,000 | $425,000 |
| 6980.0 | 1 | $1,135,000 | $1,135,000 |
| 9660.6 | 1 | $335,000 | $335,000 |
| NA | 1,143 | $397,745,000 | $347,983 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,188 | $412,820,000 | $347,492 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Pando Mortgage, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |