Performance Financial Mortgage Rates, Fees & Info

Valencia, CA

LEI: 254900QNIR86GUIRYH95

Tax ID: 95-4575252

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Performance Financial is a smaller mortgage company specializing in Home Purchase loans. Performance Financial has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Oxnard, Riverside, Bakersfield, and Salinas among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Performance Financial 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. Performance Financial 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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    Originations

    223

    Origination Dollar Volume (All Markets)

    $75,485,000

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 137 $48,885,000 $356,825 $7,372 4.82%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 15 $7,115,000 $474,333 $6,704 4.91%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 22 $6,080,000 $276,364 $9,292 4.90%
    BAKERSFIELD, CA (FHA|USDA|VA) 20 $4,730,000 $236,500 $6,401 4.99%
    SALINAS, CA (FHA|USDA|VA) 5 $1,855,000 $371,000 $8,437 5.18%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 8 $1,460,000 $182,500 $5,285 5.26%
    VISALIA, CA (FHA|USDA|VA) 5 $1,155,000 $231,000 $8,370 5.40%
    FRESNO, CA (FHA|USDA|VA) 2 $1,150,000 $575,000 $8,051 4.81%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $910,000 $455,000 $14,902 5.44%
    MERCED, CA (FHA|USDA|VA) 2 $550,000 $275,000 $9,067 5.50%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $535,000 $535,000 $24,988 4.63%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $415,000 $415,000 $5,712 4.88%
    Outside of Metro Areas 1 $265,000 $265,000 $4,742 4.63%
    Pahrump, NV (FHA|USDA|VA) 1 $235,000 $235,000 $6,993 5.00%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $145,000 $145,000 $4,144 5.50%
    Performance Financial's top markets include Los Angeles, Oxnard, Riverside, Bakersfield, and Salinas among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Performance Financial based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MYPOINT Credit Union
    Similarity Rank: 55
    McCoy Federal Credit Union
    Similarity Rank: 60
    SAFE 1 CREDIT UNION
    Similarity Rank: 96
    Montecito Bank & Trust
    Similarity Rank: 126
    FRONTWAVE
    Similarity Rank: 176
    CBC Federal Credit Union
    Similarity Rank: 189
    LBS FINANCIAL
    Similarity Rank: 210
    AltaOne Federal Credit Union
    Similarity Rank: 220
    Resource Lenders Inc.
    Similarity Rank: 220
    Cabrillo Credit Union
    Similarity Rank: 248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 146 $49,370,000 $338,151 $5,608 4.88%
    FHA 58 $19,130,000 $329,828 $12,409 4.99%
    VA 15 $5,875,000 $391,667 $7,005 4.80%
    FHA 3 $795,000 $265,000 $0 4.83%
    FHA 1 $315,000 $315,000 $15,010 5.25%

    For 2018, Performance Financial's most frequently originated type of loan was Conventional, with 146 originations. Their 2nd most popular type was FHA, with 58 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 173 $58,205,000 $336,445 $7,909 4.91%
    Cash Out Refi 30 $10,420,000 $347,333 $6,430 4.94%
    Refi 20 $6,860,000 $343,000 $5,800 4.76%

    For 2018, Performance Financial's most frequently cited loan purpose was Home Purchase, with 173 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 212 $72,880,000 $343,774 $7,739 4.94%
    Other 6 $450,000 $75,000 $1,036 3.29%
    15 Year 5 $2,155,000 $431,000 $6,189 4.28%

    For 2018, Performance Financial's most frequently cited loan duration was 30 Year, with 212 originations. The 2nd most popular length was Other, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 107 $39,905,000 $372,944
    $5k+ 42 $14,720,000 $350,476
    $2k-3k 27 $7,135,000 $264,259
    $3k-4k 22 $8,350,000 $379,545
    $<1k 13 $1,985,000 $152,692
    $4k-5k 9 $2,595,000 $288,333

    Performance Financial's average total fees were $7,739, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 107 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 129 $46,965,000 $364,070
    5-6% 76 $24,570,000 $323,289
    3-4% 7 $2,645,000 $377,857
    <2.5% 4 $50,000 $12,500
    6-7% 2 $580,000 $290,000

    During 2018, Performance Financial's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 119 $34,535,000 $290,210 $7,993 4.98%
    $400k-600k 48 $23,340,000 $486,250 $9,036 4.81%
    $100k-200k 31 $4,875,000 $157,258 $4,881 5.07%
    $600k-1MM 17 $11,535,000 $678,529 $7,642 4.87%
    $100,000 or less 7 $75,000 $10,714 $307 2.50%
    $1MM+ 1 $1,125,000 $1,125,000 $7,757 4.88%

    2018 saw Performance Financial place emphasis on $200k-400k loans with 119 originations, totaling $34,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 55 $15,965,000 $290,273 $7,067 4.92%
    $100k-150k 48 $18,390,000 $383,125 $7,942 4.88%
    $50k-75k 46 $11,590,000 $251,957 $7,541 4.88%
    $150k-250k 33 $16,905,000 $512,273 $7,712 4.88%
    $50k or less 30 $6,570,000 $219,000 $7,471 4.95%
    $250k+ 11 $6,065,000 $551,364 $7,419 4.95%

    Performance Financial lent most frequently to those with incomes in the $75k-100k range, with 55 originations. The second most popular income band? $100k-150k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $9,850,000 $378,846 $6,489 4.89%
    50-60% 23 $7,545,000 $328,043 $8,647 4.93%
    49% 22 $6,340,000 $288,182 $6,890 4.97%
    44% 16 $5,140,000 $321,250 $7,897 4.74%
    20-30% 13 $3,405,000 $261,923 $6,071 4.82%
    <20% 13 $2,555,000 $196,538 $4,213 4.33%
    47% 13 $4,945,000 $380,385 $7,916 4.99%
    42% 12 $4,230,000 $352,500 $7,305 5.36%
    43% 12 $4,420,000 $368,333 $10,355 5.07%
    40% 11 $4,205,000 $382,273 $7,688 5.02%
    45% 10 $3,610,000 $361,000 $9,504 4.95%
    37% 10 $3,390,000 $339,000 $5,985 4.80%
    >60% 9 $3,265,000 $362,778 $9,690 4.99%
    39% 7 $2,375,000 $339,286 $7,472 4.84%
    36% 6 $2,670,000 $445,000 $7,213 4.71%
    46% 6 $2,430,000 $405,000 $9,872 4.98%
    41% 5 $1,815,000 $363,000 $7,171 4.83%
    48% 4 $1,610,000 $402,500 $8,097 4.53%
    38% 3 $1,035,000 $345,000 $7,707 5.08%

    Performance Financial lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 50-60%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 184 $62,500,000 $339,674 $7,381 4.89%
    Black 18 $5,550,000 $308,333 $7,483 4.81%
    Asian 9 $3,225,000 $358,333 $7,489 5.09%
    Not provided 9 $2,795,000 $310,556 $8,596 5.11%
    American Indian 1 $585,000 $585,000 $23,437 5.75%
    Other Asian 1 $505,000 $505,000 $8,540 5.25%
    Native Hawaiian or Islander 1 $325,000 $325,000 $6,831 4.50%

    Approval Rates

    Total approvals of all applications
    98.96%

    Performance Financial 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
    88.79%

    Performance Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 223 $75,485,000 $338,498

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 223 $75,485,000 $338,498

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $2,270,000 $227,000 $4,819 4.91%
    40-60% 19 $6,775,000 $356,579 $5,231 4.71%
    60-80% 53 $20,535,000 $387,453 $6,624 4.92%
    80-100% 130 $45,160,000 $347,385 $8,958 4.99%
    Over 100% 1 $325,000 $325,000 $6,816 5.38%
    Under 20% 10 $420,000 $42,000 $1,153 3.63%