San Diego Funding Mortgage Rates, Fees & Info

San Diego, CA

LEI: 254900EZO02JGHXM3V19

Tax ID: 95-3668884

2.8 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

San Diego Funding is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. San Diego Funding has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include San Diego, Los Angeles, Riverside, Sacramento, and San Francisco among others. San Diego Funding has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. San Diego Funding is typically a high fee lendor.


Originations

489

Origination Dollar Volume (All Markets)

$267,355,000

Awards

San Diego Funding FHA Loans silver San Diego Funding VA Loans bronze
Show all (2) awards

Relative Rate

San Diego Funding's average 30 year fixed rate mortgage of loans were 2.93%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.22%.

Relative Fees

San Diego Funding's average total fees for a 30 year fixed rate mortgage are $7,582.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 398 $218,090,000 $547,965 $7,521 2.91%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 39 $23,745,000 $608,846 $8,460 2.99%
Outside of Metro Areas 21 $11,535,000 $549,286 $3,395 2.31%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 19 $8,045,000 $423,421 $6,298 2.86%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $1,040,000 $520,000 $4,774 2.87%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $940,000 $470,000 $4,160 2.50%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $785,000 $785,000 $3,911 2.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $755,000 $755,000 $13,831 3.50%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $665,000 $665,000 $5,303 3.25%
VALLEJO, CA (FHA|USDA|VA) 1 $445,000 $445,000 $5,354 2.88%
SALINAS, CA (FHA|USDA|VA) 1 $445,000 $445,000 $4,275 2.50%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $335,000 $335,000 $10,009 3.00%
REDDING, CA (FHA|USDA|VA) 1 $325,000 $325,000 $5,064 3.13%
FRESNO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $4,140 2.63%

San Diego Funding's top markets include San Diego, Los Angeles, Riverside, Sacramento, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 413 $225,005,000 $544,806 $6,988 2.97%
VA 64 $36,180,000 $565,313 $9,156 2.55%
FHA 12 $6,170,000 $514,167 $15,539 2.78%

For the 2021 period, San Diego Funding's most frequently originated loan type of loans were Conventional, with 413 originations. Their 2nd most popular type is VA, with 64 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 195 $123,585,000 $633,769 $10,170 2.96%
Refi 158 $75,870,000 $480,190 $5,160 2.78%
Cash Out Refi 114 $54,970,000 $482,193 $6,162 3.01%
NA 22 $12,930,000 $587,727 $0 0.00%

For the 2021, San Diego Funding's most frequently cited loan purpose of loans were Home Purchase, with 195 originations. The 2nd most popular reason of loans were Refi, with 158 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 436 $241,660,000 $554,266 $7,582 2.93%
Other 27 $15,455,000 $572,407 $5,911 2.99%
15 Year 23 $8,825,000 $383,696 $5,920 2.48%
20 Year 3 $1,415,000 $471,667 $7,155 2.79%

For the 2021, San Diego Funding's most frequently cited loan length of loans were 30 Year, with 436 originations. The 2nd most popular length of loans were Other, with 27 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 317 $158,355,000 $499,543
$5k+ 82 $64,010,000 $780,610
$3k-4k 46 $21,610,000 $469,783
$2k-3k 14 $5,780,000 $412,857
$<1k 2 $1,680,000 $840,000

$7,582 of loans were San Diego Funding's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 317 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 222 $122,000,000 $549,550
3-4% 154 $89,350,000 $580,195
<2.5% 87 $40,765,000 $468,563

During 2021, San Diego Funding's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 2.5-3%, with 222 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 180 $90,360,000 $502,000 $6,371 2.85%
$200k-400k 145 $45,275,000 $312,241 $5,149 2.87%
$600k-1MM 142 $102,930,000 $724,859 $9,092 3.01%
$1MM+ 19 $28,295,000 $1,489,211 $24,148 3.05%
$100k-200k 3 $495,000 $165,000 $4,757 3.25%

2021 saw San Diego Funding place emphasis on $400k-600k loans with 180 originations, totaling $90,360,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 147 $73,785,000 $501,939 $6,536 2.98%
$150k-250k 138 $83,420,000 $604,493 $7,524 2.96%
$75k-100k 71 $29,735,000 $418,803 $6,565 2.81%
$250k+ 63 $53,845,000 $854,683 $12,763 2.99%
$50k-75k 35 $10,845,000 $309,857 $6,134 2.86%
$50k or less 35 $15,725,000 $449,286 $5,622 2.54%

San Diego Funding lent most frequently to those with incomes in the $100k-150k range, with 147 originations. The second most popular income band? $150k-250k, with 138 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 75 $38,145,000 $508,600 $6,152 2.87%
30-36% 61 $34,765,000 $569,918 $7,187 2.99%
<20% 49 $26,815,000 $547,245 $6,258 2.58%
49% 38 $20,820,000 $547,895 $8,317 3.02%
45% 23 $11,225,000 $488,043 $6,892 2.89%
43% 21 $12,495,000 $595,000 $8,926 2.94%
47% 21 $11,335,000 $539,762 $6,581 3.10%
38% 20 $14,360,000 $718,000 $10,551 2.96%
39% 19 $12,255,000 $645,000 $8,142 3.09%
42% 18 $8,710,000 $483,889 $6,096 3.01%
46% 17 $9,805,000 $576,765 $8,789 3.04%
41% 17 $11,185,000 $657,941 $8,731 2.93%
48% 15 $5,805,000 $387,000 $5,393 2.97%
37% 14 $6,770,000 $483,571 $6,418 2.90%
44% 14 $6,480,000 $462,857 $7,674 2.91%
50-60% 14 $7,190,000 $513,571 $12,917 2.74%
40% 13 $5,985,000 $460,385 $8,292 2.94%
36% 11 $5,715,000 $519,545 $7,547 2.93%
>60% 3 $2,255,000 $751,667 $12,923 2.50%

San Diego Funding lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 61 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 425 $229,985,000 $541,141 $7,384 2.91%
Asian 44 $24,920,000 $566,364 $8,134 2.94%
Black 13 $8,085,000 $621,923 $7,753 2.82%
Asian Indian 2 $1,820,000 $910,000 $16,819 2.69%
Other Asian 1 $875,000 $875,000 $6,994 3.38%
Native Hawaiian 2 $820,000 $410,000 $3,673 2.87%
Not provided 1 $615,000 $615,000 $11,390 3.12%
American Indian 1 $235,000 $235,000 $6,471 3.00%

Approval Rates

Total approvals of all applications
98.81%

San Diego Funding 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
74.65%

San Diego Funding has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 489 $267,355,000 $546,738

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
489 $267,355,000 $546,738

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 33 $12,465,000 $377,727 $6,288 2.78%
40-60% 124 $54,990,000 $443,468 $5,882 2.85%
60-80% 176 $105,340,000 $598,523 $7,404 2.99%
80-100% 123 $76,015,000 $618,008 $9,133 2.91%
Over 100% 5 $2,305,000 $461,000 $17,950 2.48%
Under 20% 4 $2,090,000 $522,500 $7,725 2.78%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SANDY SPRING BANCORP, INC. FHA mortgage Closing on a mortgage 1 20.0%
SANDY SPRING BANCORP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 20.0%
SANDY SPRING BANCORP, INC. Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 20.0%
SANDY SPRING BANCORP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
SANDY SPRING BANCORP, INC. Other type of mortgage Closing on a mortgage 1 20.0%