San Diego Funding Mortgage Rates, Fees & Info
San Diego, CALEI: 254900EZO02JGHXM3V19
Tax ID: 95-3668884
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
489Origination Dollar Volume (All Markets)
$267,355,000Awards
San Diego Funding - 2021
San Diego Funding is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications98.81%
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 origination74.65%
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% |
