Shea Mortgage Rates, Fees & Info

Walnut, CA

LEI: 254900R9A6TW85BTVS20

Tax ID: 95-4523866

5 stars - out of 5 stars, based on 31 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Shea Mortgage is a smaller mortgage company specializing in loans. Shea Mortgage 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 by origination volume include: Phoenix, Denver, San Diego, Salinas, and Houston among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Shea Mortgage 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. Shea Mortgage is typically a low 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.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.49% 3/28/23
    30 Year FHA Purchase 7.08% 3/28/23
    30 Year VA Purchase 6.00% 3/28/23
    15 Year Conventional Purchase 6.11% 3/28/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    940

    Origination Dollar Volume (All Markets)

    $447,550,000
    Show all (17) awards

    Relative Rate

    Shea Mortgage's average 30 year fixed mortgage rate was 5.13%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.37%.

    Relative Fees (Closing Costs)

    Shea Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $4,471.

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

    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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 256 $110,140,000 $430,234 $3,846 5.09%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 147 $82,115,000 $558,605 $3,659 4.89%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 90 $56,530,000 $628,111 $7,297 4.95%
    SALINAS, CA (FHA|USDA|VA) 34 $22,610,000 $665,000 $4,507 5.23%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 50 $20,200,000 $404,000 $4,650 5.31%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 33 $19,175,000 $581,061 $4,946 4.86%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 49 $18,785,000 $383,367 $5,200 5.02%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 24 $16,130,000 $672,083 $7,184 4.70%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 40 $15,620,000 $390,500 $4,563 5.05%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 37 $12,405,000 $335,270 $3,418 5.16%
    STOCKTON, CA (FHA|USDA|VA) 19 $12,395,000 $652,368 $4,521 4.55%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 25 $11,465,000 $458,600 $4,134 5.21%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 37 $11,305,000 $305,541 $2,267 5.84%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 16 $11,210,000 $700,625 $5,663 5.10%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 24 $9,110,000 $379,583 $3,757 5.35%
    WINCHESTER, VA-WV (FHA|USDA|VA) 17 $7,055,000 $415,000 $1,962 4.22%
    OCALA, FL (FHA|USDA|VA) 26 $6,370,000 $245,000 $6,283 5.57%
    BOISE CITY, ID (FHA|USDA|VA) 11 $3,545,000 $322,273 $1,589 5.64%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,240,000 $310,000 $5,978 4.06%
    Stephenville, TX (FHA|USDA|VA) 1 $145,000 $145,000 $700 6.00%
    Shea Mortgage's top markets include Phoenix, Denver, San Diego, Salinas, and Houston among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)

    • Similar Lenders

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

    First Credit Union
    Similarity Rank: 210
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 385
    AAXY L.L.C.
    Similarity Rank: 432
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    The District Federal Credit Union
    Similarity Rank: 588
    Chaffey Federal Credit Union
    Similarity Rank: 644
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 660
    MYPOINT Credit Union
    Similarity Rank: 770
    AMOCO
    Similarity Rank: 810
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 960

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 818 $381,900,000 $466,870 $3,813 5.12%
    VA 89 $49,525,000 $556,461 $7,498 4.65%
    FHA 33 $16,125,000 $488,636 $11,238 4.90%

    For 2022, Shea Mortgage's most frequently originated type of loan was Conventional, with 818 originations. Their 2nd most popular type was VA, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 940 $447,550,000 $476,117 $4,422 5.07%

    For 2022, Shea Mortgage's most frequently cited loan purpose was Home Purchase, with 940 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 885 $428,765,000 $484,480 $4,471 5.13%
    15 Year 43 $14,805,000 $344,302 $3,451 3.72%
    20 Year 11 $3,655,000 $332,273 $3,807 5.27%
    10 Year 1 $325,000 $325,000 $9,849 4.50%

    For 2022, Shea Mortgage's most frequently cited loan duration was 30 Year, with 885 originations. The 2nd most popular length was 15 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 507 $234,435,000 $462,396
    $1k-2k 173 $72,375,000 $418,353
    $5k+ 107 $65,155,000 $608,925
    $2k-3k 72 $32,490,000 $451,250
    $3k-4k 45 $23,755,000 $527,889
    $4k-5k 36 $19,340,000 $537,222

    Shea Mortgage's average total fees were $4,471, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 507 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 326 $152,390,000 $467,454
    4-5% 212 $103,620,000 $488,774
    3-4% 181 $84,205,000 $465,221
    6-7% 159 $76,085,000 $478,522
    7-8% 28 $14,620,000 $522,143
    2.5-3% 28 $13,050,000 $466,071
    <2.5% 5 $3,125,000 $625,000
    Over 8% 1 $455,000 $455,000

    During 2022, Shea Mortgage's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 5-6%, with 326 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 314 $156,470,000 $498,312 $4,158 5.03%
    $200k-400k 279 $86,355,000 $309,516 $3,921 5.10%
    $600k-1MM 248 $176,590,000 $712,056 $5,740 5.09%
    $100k-200k 85 $12,605,000 $148,294 $2,653 5.01%
    $1MM+ 13 $15,455,000 $1,188,846 $8,095 5.57%
    $100,000 or less 1 $75,000 $75,000 $3,183 5.75%

    2022 saw Shea Mortgage place emphasis on $400k-600k loans with 314 originations, totaling $156,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 340 $187,830,000 $552,441 $4,583 5.19%
    $100k-150k 280 $120,030,000 $428,679 $4,637 4.97%
    $250k+ 145 $89,515,000 $617,345 $4,547 5.16%
    $75k-100k 115 $37,355,000 $324,826 $3,483 4.89%
    $50k-75k 50 $11,190,000 $223,800 $4,295 5.03%
    $50k or less 10 $1,630,000 $163,000 $2,583 4.68%

    Shea Mortgage lent most frequently to those with incomes in the $150k-250k range, with 340 originations. The second most popular income band? $100k-150k, with 280 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 158 $64,270,000 $406,772 $3,459 5.04%
    30-36% 155 $71,805,000 $463,258 $3,452 4.79%
    49% 73 $35,185,000 $481,986 $4,161 5.57%
    <20% 51 $15,435,000 $302,647 $2,967 4.59%
    42% 50 $27,780,000 $555,600 $4,269 5.11%
    44% 42 $21,810,000 $519,286 $5,034 5.39%
    46% 41 $21,425,000 $522,561 $6,610 5.12%
    48% 38 $19,430,000 $511,316 $4,608 5.56%
    40% 38 $18,920,000 $497,895 $4,793 4.71%
    43% 38 $17,510,000 $460,789 $4,210 5.10%
    50-60% 35 $21,335,000 $609,571 $10,344 4.85%
    41% 34 $15,610,000 $459,118 $4,517 5.18%
    47% 34 $14,940,000 $439,412 $4,880 5.19%
    39% 33 $18,935,000 $573,788 $3,627 5.06%
    36% 32 $15,920,000 $497,500 $3,890 5.17%
    45% 28 $15,080,000 $538,571 $7,222 4.96%
    38% 27 $14,875,000 $550,926 $4,061 5.26%
    37% 27 $13,165,000 $487,593 $4,414 5.34%
    >60% 6 $4,120,000 $686,667 $8,417 5.17%

    Shea Mortgage lent most frequently to those with DTI ratios of 20-30%, with 158 originations. The next most common DTI ratio? 30-36%, with 155 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 642 $285,450,000 $444,626 $4,217 5.11%
    Asian 138 $80,120,000 $580,580 $4,498 4.92%
    Not provided 111 $56,635,000 $510,225 $4,743 4.99%
    Black 42 $22,210,000 $528,810 $6,377 5.08%
    American Indian 4 $1,940,000 $485,000 $5,899 4.91%
    Vietnamese 1 $585,000 $585,000 $700 7.38%
    Other Pacific Islander 1 $425,000 $425,000 $6,026 6.13%
    Filipino 1 $185,000 $185,000 $4,592 5.00%

    Approval Rates

    Total approvals of all applications
    98.45%

    Shea Mortgage 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
    -21.60%

    Shea Mortgage 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 940 $447,550,000 $476,117

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    940 $447,550,000 $476,117

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 131 $29,765,000 $227,214 $2,982 4.98%
    40-60% 163 $63,735,000 $391,012 $3,661 5.14%
    60-80% 303 $164,195,000 $541,898 $4,546 5.16%
    80-100% 316 $183,040,000 $579,241 $4,987 4.98%
    Over 100% 7 $3,925,000 $560,714 $22,976 4.64%
    Under 20% 20 $2,890,000 $144,500 $2,763 5.42%