Performance Financial Mortgage Rates, Fees & Info

Valencia, CA

LEI: 254900QNIR86GUIRYH95

Tax ID: 95-4575252

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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 a a high proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, Bakersfield, Oxnard, and Las Vegas among others. We have data for 16 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 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.

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    Originations

    321

    Origination Dollar Volume (All Markets)

    $101,755,000

    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) 127 $42,635,000 $335,709 $8,540 4.21%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 84 $24,350,000 $289,881 $9,358 4.15%
    BAKERSFIELD, CA (FHA|USDA|VA) 64 $17,690,000 $276,406 $7,336 4.17%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $4,830,000 $483,000 $6,734 4.46%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 12 $4,830,000 $402,500 $8,375 5.79%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $2,050,000 $512,500 $7,654 4.47%
    VISALIA, CA (FHA|USDA|VA) 5 $1,305,000 $261,000 $11,456 5.15%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 6 $1,010,000 $168,333 $5,457 4.44%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $785,000 $785,000 $4,334 4.88%
    RENO, NV (FHA|USDA|VA) 1 $405,000 $405,000 $3,760 3.99%
    VALLEJO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $2,858 3.38%
    SALINAS, CA (FHA|USDA|VA) 1 $395,000 $395,000 $2,930 3.88%
    FRESNO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $10,950 3.99%
    MERCED, CA (FHA|USDA|VA) 2 $270,000 $135,000 $478 4.25%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,273 4.63%
    Outside of Metro Areas 1 $245,000 $245,000 $8,494 5.00%
    Performance Financial's top markets include Los Angeles, Riverside, Bakersfield, Oxnard, and Las Vegas 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: 147
    SAFE 1 CREDIT UNION
    Similarity Rank: 174
    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    McCoy Federal Credit Union
    Similarity Rank: 342
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 576
    CBC Federal Credit Union
    Similarity Rank: 756
    TrustCo Bank
    Similarity Rank: 780
    Deer Valley Credit Union
    Similarity Rank: 820

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 150 $50,510,000 $336,733 $5,943 4.44%
    FHA 124 $36,230,000 $292,177 $12,010 4.17%
    VA 47 $15,015,000 $319,468 $5,968 4.03%

    For 2019, Performance Financial's most frequently originated type of loan was Conventional, with 150 originations. Their 2nd most popular type was FHA, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 263 $80,475,000 $305,989 $9,088 4.26%
    Refi 40 $16,190,000 $404,750 $4,625 4.10%
    Cash Out Refi 18 $5,090,000 $282,778 $5,889 4.86%

    For 2019, Performance Financial's most frequently cited loan purpose was Home Purchase, with 263 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 315 $99,795,000 $316,810 $8,370 4.28%
    15 Year 3 $985,000 $328,333 $7,537 3.91%
    20 Year 3 $975,000 $325,000 $4,275 3.83%

    For 2019, Performance Financial's most frequently cited loan duration was 30 Year, with 315 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 121 $43,015,000 $355,496
    $5k+ 83 $27,825,000 $335,241
    $<1k 35 $7,555,000 $215,857
    $2k-3k 29 $7,545,000 $260,172
    $4k-5k 28 $8,390,000 $299,643
    $3k-4k 20 $5,910,000 $295,500

    Performance Financial's average total fees were $8,370, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 121 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 150 $48,860,000 $325,733
    3-4% 125 $40,415,000 $323,320
    5-6% 31 $9,485,000 $305,968
    <2.5% 8 $50,000 $6,250
    7-8% 3 $1,935,000 $645,000
    6-7% 1 $155,000 $155,000

    During 2019, Performance Financial's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 4-5%, with 150 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 227 $68,245,000 $300,639 $9,059 4.27%
    $100k-200k 35 $5,815,000 $166,143 $5,925 4.58%
    $400k-600k 31 $14,495,000 $467,581 $9,078 4.39%
    $600k-1MM 14 $10,270,000 $733,571 $7,542 4.93%
    $100,000 or less 12 $160,000 $13,333 $656 2.47%
    $1MM+ 2 $2,770,000 $1,385,000 $7,124 4.31%

    2019 saw Performance Financial place emphasis on $200k-400k loans with 227 originations, totaling $68,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 95 $24,585,000 $258,789 $9,127 4.09%
    $75k-100k 81 $23,705,000 $292,654 $8,548 4.21%
    $100k-150k 75 $26,565,000 $354,200 $8,424 4.37%
    $150k-250k 31 $13,115,000 $423,065 $6,450 4.58%
    $50k or less 29 $6,455,000 $222,586 $7,200 4.24%
    $250k+ 9 $6,505,000 $722,778 $7,387 4.71%

    Performance Financial lent most frequently to those with incomes in the $50k-75k range, with 95 originations. The second most popular income band? $75k-100k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 47 $12,615,000 $268,404 $7,947 4.26%
    50-60% 43 $13,015,000 $302,674 $10,657 4.33%
    20-30% 32 $9,940,000 $310,625 $6,066 3.93%
    44% 29 $10,295,000 $355,000 $10,440 4.38%
    43% 21 $6,365,000 $303,095 $11,282 4.33%
    42% 19 $7,765,000 $408,684 $9,115 4.25%
    36% 19 $5,205,000 $273,947 $7,742 4.39%
    41% 16 $5,820,000 $363,750 $9,593 4.25%
    <20% 14 $1,370,000 $97,857 $3,057 3.24%
    39% 11 $4,285,000 $389,545 $8,145 4.45%
    45% 11 $3,655,000 $332,273 $6,961 4.70%
    46% 11 $3,185,000 $289,545 $6,648 4.52%
    40% 9 $4,225,000 $469,444 $7,256 4.45%
    49% 9 $3,455,000 $383,889 $7,292 4.49%
    47% 6 $2,290,000 $381,667 $6,084 4.48%
    38% 6 $2,300,000 $383,333 $9,045 4.60%
    48% 6 $1,560,000 $260,000 $6,792 4.38%
    37% 5 $1,535,000 $307,000 $10,218 4.70%
    >60% 2 $750,000 $375,000 $14,092 4.50%

    Performance Financial lent most frequently to those with DTI ratios of 30-36%, with 47 originations. The next most common DTI ratio? 50-60%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 257 $81,975,000 $318,969 $8,292 4.28%
    Black 35 $9,575,000 $273,571 $9,238 3.97%
    Asian 19 $6,865,000 $361,316 $7,416 4.52%
    Not provided 8 $2,770,000 $346,250 $8,064 4.97%
    American Indian 1 $335,000 $335,000 $5,302 3.75%
    Not applicable 1 $235,000 $235,000 $4,590 4.75%

    Approval Rates

    Total approvals of all applications
    97.41%

    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
    61.37%

    Performance Financial 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 321 $101,755,000 $316,994

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $740,000 $185,000
    Single Family (1-4 Units):Site-Built 317 $101,015,000 $318,659

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $610,000 $152,500 $3,657 4.48%
    40-60% 19 $6,835,000 $359,737 $5,757 4.58%
    60-80% 48 $17,790,000 $370,625 $5,861 4.57%
    80-100% 225 $71,935,000 $319,711 $9,519 4.32%
    Over 100% 14 $4,520,000 $322,857 $9,243 3.82%
    Under 20% 11 $65,000 $5,909 $362 2.25%