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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi loans. Performance Financial 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: Los Angeles, Riverside, San Diego, Bakersfield, and Oxnard among others. We have data for 30 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.

    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

    400

    Origination Dollar Volume (All Markets)

    $143,830,000
    Show all (11) awards

    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) 176 $62,380,000 $354,432 $5,123 2.99%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 60 $19,370,000 $322,833 $7,233 2.94%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 32 $15,150,000 $473,438 $5,669 2.39%
    BAKERSFIELD, CA (FHA|USDA|VA) 32 $7,800,000 $243,750 $6,915 3.44%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 15 $7,555,000 $503,667 $6,905 2.77%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 11 $4,285,000 $389,545 $5,346 2.42%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,095,000 $455,000 $7,464 2.63%
    VALLEJO, CA (FHA|USDA|VA) 8 $2,730,000 $341,250 $5,789 2.36%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $2,155,000 $307,857 $6,595 2.34%
    STOCKTON, CA (FHA|USDA|VA) 6 $2,140,000 $356,667 $9,251 2.45%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $1,810,000 $452,500 $5,559 2.75%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 4 $1,770,000 $442,500 $7,145 2.44%
    FRESNO, CA (FHA|USDA|VA) 6 $1,730,000 $288,333 $6,195 2.44%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 5 $1,165,000 $233,000 $2,893 2.65%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,150,000 $575,000 $15,779 2.63%
    MERCED, CA (FHA|USDA|VA) 3 $935,000 $311,667 $7,179 2.42%
    MADERA, CA (FHA|USDA|VA) 3 $915,000 $305,000 $5,125 2.25%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $825,000 $825,000 $12,042 2.50%
    RENO, NV (FHA|USDA|VA) 2 $810,000 $405,000 $4,000 3.43%
    MODESTO, CA (FHA|USDA|VA) 2 $720,000 $360,000 $6,082 2.38%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $620,000 $310,000 $4,031 2.25%
    NAPA, CA (FHA|USDA|VA) 1 $595,000 $595,000 $6,674 2.25%
    REDDING, CA (FHA|USDA|VA) 2 $580,000 $290,000 $1,849 2.25%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $485,000 $485,000 $3,127 2.75%
    SALINAS, CA (FHA|USDA|VA) 1 $455,000 $455,000 $7,265 2.50%
    VISALIA, CA (FHA|USDA|VA) 1 $395,000 $395,000 $1,867 2.25%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $315,000 $315,000 $8,145 2.38%
    TUCSON, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $6,930 2.50%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $4,125 3.88%
    Show Low, AZ (FHA|USDA|VA) 1 $285,000 $285,000 $9,090 2.25%
    Performance Financial's top markets include Los Angeles, Riverside, San Diego, Bakersfield, and Oxnard among others.

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

    Chaffey Federal Credit Union
    Similarity Rank: 345
    SAFE 1 CREDIT UNION
    Similarity Rank: 369
    MANHATTAN FINANCIAL GROUP, INC.
    Similarity Rank: 384
    MYPOINT Credit Union
    Similarity Rank: 560
    ALTURA
    Similarity Rank: 628
    AltaOne Federal Credit Union
    Similarity Rank: 666
    Christian Community Credit Union
    Similarity Rank: 716
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 825
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 854
    THE MONEY HOUSE INC.
    Similarity Rank: 946

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 256 $91,900,000 $358,984 $5,356 2.95%
    VA 101 $39,195,000 $388,069 $4,894 2.37%
    FHA 39 $11,935,000 $306,026 $12,630 3.49%
    USDA 4 $800,000 $200,000 $6,457 3.28%

    For 2020, Performance Financial's most frequently originated type of loan was Conventional, with 256 originations. Their 2nd most popular type was VA, with 101 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 289 $108,005,000 $373,720 $4,844 2.69%
    Home Purchase 75 $23,115,000 $308,200 $9,547 3.57%
    Cash Out Refi 36 $12,710,000 $353,056 $7,377 2.73%

    For 2020, Performance Financial's most frequently cited loan purpose was Refi, with 289 originations. The 2nd most popular reason was Home Purchase, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 375 $136,635,000 $364,360 $6,122 2.87%
    15 Year 16 $5,040,000 $315,000 $3,634 2.73%
    20 Year 5 $1,085,000 $217,000 $2,962 2.75%
    10 Year 3 $725,000 $241,667 $2,971 2.50%
    Other 1 $345,000 $345,000 $3,010 2.75%

    For 2020, Performance Financial's most frequently cited loan duration was 30 Year, with 375 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 188 $65,050,000 $346,011
    $5k+ 96 $37,310,000 $388,646
    $<1k 54 $21,050,000 $389,815
    $2k-3k 22 $7,630,000 $346,818
    $4k-5k 18 $5,300,000 $294,444
    $3k-4k 17 $5,985,000 $352,059

    Performance Financial's average total fees were $6,122, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 155 $60,115,000 $387,839
    2.5-3% 136 $48,280,000 $355,000
    3-4% 84 $28,340,000 $337,381
    4-5% 19 $5,725,000 $301,316
    5-6% 3 $475,000 $158,333

    During 2020, Performance Financial's average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was <2.5%, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 230 $68,450,000 $297,609 $6,245 2.86%
    $400k-600k 97 $46,095,000 $475,206 $5,695 2.73%
    $100k-200k 35 $5,565,000 $159,000 $3,715 3.35%
    $600k-1MM 33 $23,275,000 $705,303 $7,397 2.78%
    $100,000 or less 5 $445,000 $89,000 $3,204 2.73%

    2020 saw Performance Financial place emphasis on $200k-400k loans with 230 originations, totaling $68,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 85 $31,585,000 $371,588 $6,687 2.93%
    $50k-75k 68 $18,750,000 $275,735 $7,337 3.09%
    $150k-250k 65 $27,475,000 $422,692 $5,981 3.00%
    $75k-100k 55 $16,995,000 $309,000 $7,214 3.08%
    $50k or less 38 $10,500,000 $276,316 $4,361 2.77%
    $250k+ 23 $11,895,000 $517,174 $3,767 2.93%

    Performance Financial lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $21,705,000 $355,820 $5,888 2.88%
    30-36% 52 $19,650,000 $377,885 $5,946 2.87%
    <20% 24 $6,040,000 $251,667 $3,412 2.71%
    44% 20 $6,730,000 $336,500 $7,948 3.17%
    40% 19 $7,545,000 $397,105 $7,610 3.13%
    42% 17 $6,415,000 $377,353 $9,376 2.96%
    48% 17 $5,085,000 $299,118 $4,945 3.36%
    43% 16 $5,090,000 $318,125 $8,259 3.27%
    50-60% 14 $4,510,000 $322,143 $8,282 3.55%
    41% 13 $5,045,000 $388,077 $7,095 3.21%
    49% 12 $4,040,000 $336,667 $6,153 2.79%
    37% 10 $2,860,000 $286,000 $6,113 3.24%
    39% 9 $3,855,000 $428,333 $7,309 3.06%
    36% 8 $2,830,000 $353,750 $7,321 2.58%
    45% 7 $2,425,000 $346,429 $7,794 3.52%
    47% 7 $2,475,000 $353,571 $6,317 2.77%
    46% 6 $2,520,000 $420,000 $3,890 2.96%
    38% 3 $1,305,000 $435,000 $3,277 3.12%
    >60% 1 $315,000 $315,000 $5,232 2.50%

    Performance Financial lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 288 $99,200,000 $344,444 $5,662 2.94%
    Not provided 70 $28,750,000 $410,714 $6,136 2.40%
    Asian 18 $7,810,000 $433,889 $8,174 2.80%
    Black 21 $6,915,000 $329,286 $7,850 3.21%
    Korean 1 $485,000 $485,000 $3,122 3.00%
    Japanese 1 $415,000 $415,000 $3,620 4.00%
    American Indian 1 $255,000 $255,000 $2,369 2.25%

    Approval Rates

    Total approvals of all applications
    97.04%

    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
    54.75%

    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 400 $143,830,000 $359,575

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $165,000 $165,000
    Single Family (1-4 Units):Site-Built 399 $143,665,000 $360,063

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $9,805,000 $265,000 $3,754 2.70%
    40-60% 91 $32,835,000 $360,824 $4,920 2.64%
    60-80% 159 $62,375,000 $392,296 $5,801 2.76%
    80-100% 104 $36,410,000 $350,096 $7,812 3.19%
    Over 100% 4 $1,180,000 $295,000 $10,971 3.69%
    Under 20% 5 $1,225,000 $245,000 $2,793 3.57%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    PREFERRED MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    PREFERRED MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 1 50.0%