Shea Mortgage Rates, Fees & InfoWalnut, CA
Tax ID: 95-4523866
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewShea 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.
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|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.|
Origination Dollar Volume (All Markets)$447,550,000
Shea Mortgage's average 30 year fixed mortgage rate was
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.
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%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
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||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Shea Mortgage's most frequently cited loan purpose was Home Purchase, with 940 originations.
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
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.
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.
2022 saw Shea Mortgage place emphasis on $400k-600k loans with 314 originations, totaling $156,470,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
Shea Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
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|