Shea Mortgage Rates, Fees & Info

Walnut, CA

LEI: 254900R9A6TW85BTVS20

Tax ID: 95-4523866

5 stars - Updated: 11/17/24 - out of 5 stars, based on 31 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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 Home Purchase loans. Shea Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Denver, Phoenix, San Diego, Riverside, and Houston among others. We have data for 19 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 relatively high 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% 11/17/24
    30 Year FHA Purchase 7.08% 11/17/24
    30 Year VA Purchase 6.00% 11/17/24
    15 Year Conventional Purchase 6.11% 11/17/24
    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.

    Shea Mortgage Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Shea Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    938

    Origination Dollar Volume (All Markets)

    $462,070,000
    Show all (22) awards

    Relative Rate

    Shea Mortgage's average 30 year fixed mortgage rate was 6.37%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.11%.

    Relative Fees (Closing Costs)

    Shea Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $3,869.

    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 $9,089.

    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
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 184 $103,830,000 $564,293 $2,320 5.99%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 231 $100,135,000 $433,485 $3,939 6.04%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 67 $52,905,000 $789,627 $10,640 6.41%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 69 $28,455,000 $412,391 $2,529 6.45%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 55 $24,895,000 $452,636 $3,774 6.37%
    SALINAS, CA (FHA|USDA|VA) 37 $23,505,000 $635,270 $4,179 6.52%
    STOCKTON, CA (FHA|USDA|VA) 32 $19,460,000 $608,125 $1,748 6.85%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 30 $17,570,000 $585,667 $6,955 6.83%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 26 $16,090,000 $618,846 $2,702 6.81%
    BOISE CITY, ID (FHA|USDA|VA) 35 $13,485,000 $385,286 $3,114 6.45%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 18 $12,550,000 $697,222 $7,582 6.84%
    WINCHESTER, VA-WV (FHA|USDA|VA) 30 $11,200,000 $373,333 $1,664 6.60%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 34 $10,580,000 $311,176 $2,310 6.78%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 29 $8,155,000 $281,207 $2,457 6.71%
    OCALA, FL (FHA|USDA|VA) 28 $7,860,000 $280,714 $4,909 6.61%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $4,745,000 $279,118 $3,830 6.89%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 11 $4,165,000 $378,636 $1,877 6.81%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $1,825,000 $608,333 $4,399 6.17%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $660,000 $330,000 $1,855 7.13%
    Shea Mortgage's top markets include Denver, Phoenix, San Diego, Riverside, and Houston among others.

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

    Educational Employees Credit Union
    Similarity Rank: 44
    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    VENTURA COUNTY
    Similarity Rank: 96
    KD CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 242
    LBS FINANCIAL
    Similarity Rank: 258
    AMOCO
    Similarity Rank: 258
    Water and Power Community Credit Union
    Similarity Rank: 261
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 300
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 773 $364,665,000 $471,753 $2,750 6.48%
    FHA 94 $49,320,000 $524,681 $10,319 5.58%
    VA 71 $48,085,000 $677,254 $7,197 5.85%

    For 2023, Shea Mortgage's most frequently originated type of loan was Conventional, with 773 originations. Their 2nd most popular type was FHA, with 94 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 937 $461,865,000 $492,919 $3,845 6.34%
    Refi 1 $205,000 $205,000 $4,067 6.75%

    For 2023, Shea Mortgage's most frequently cited loan purpose was Home Purchase, with 937 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 904 $449,400,000 $497,124 $3,869 6.37%
    15 Year 18 $6,510,000 $361,667 $4,333 5.02%
    20 Year 15 $5,755,000 $383,667 $1,531 5.87%
    Other 1 $405,000 $405,000 $7,662 6.63%

    For 2023, Shea Mortgage's most frequently cited loan duration was 30 Year, with 904 originations. The 2nd most popular length was 15 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 674 $321,900,000 $477,596
    $1k-2k 120 $54,060,000 $450,500
    $5k+ 58 $40,200,000 $693,103
    $2k-3k 48 $24,120,000 $502,500
    $3k-4k 22 $12,800,000 $581,818
    $4k-5k 16 $8,990,000 $561,875

    Shea Mortgage's average total fees were $3,869, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 674 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 397 $195,745,000 $493,060
    5-6% 267 $132,815,000 $497,434
    7-8% 170 $90,170,000 $530,412
    4-5% 72 $30,000,000 $416,667
    Over 8% 23 $11,405,000 $495,870
    3-4% 9 $1,935,000 $215,000

    During 2023, Shea Mortgage's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was 6-7%, with 397 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 335 $162,975,000 $486,493 $3,634 6.28%
    $600k-1MM 278 $202,970,000 $730,108 $5,250 6.57%
    $200k-400k 241 $72,655,000 $301,473 $2,821 6.23%
    $100k-200k 69 $10,185,000 $147,609 $1,673 6.11%
    $1MM+ 11 $13,045,000 $1,185,909 $12,007 6.31%
    $100,000 or less 4 $240,000 $60,000 $526 5.59%

    2023 saw Shea Mortgage place emphasis on $400k-600k loans with 335 originations, totaling $162,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 372 $206,010,000 $553,790 $3,781 6.47%
    $100k-150k 237 $96,845,000 $408,629 $4,252 6.17%
    $250k+ 201 $122,575,000 $609,826 $3,976 6.60%
    $75k-100k 89 $28,005,000 $314,663 $3,318 5.95%
    $50k-75k 34 $7,840,000 $230,588 $2,735 5.67%
    $50k or less 5 $795,000 $159,000 $942 5.63%

    Shea Mortgage lent most frequently to those with incomes in the $150k-250k range, with 372 originations. The second most popular income band? $100k-150k, with 237 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 134 $53,180,000 $396,866 $2,466 6.28%
    30-36% 131 $61,105,000 $466,450 $3,004 6.30%
    50-60% 83 $48,145,000 $580,060 $8,803 5.70%
    49% 63 $34,515,000 $547,857 $4,733 6.53%
    48% 60 $31,200,000 $520,000 $4,512 6.68%
    46% 54 $28,200,000 $522,222 $4,260 6.43%
    <20% 51 $14,915,000 $292,451 $1,714 6.17%
    44% 45 $23,795,000 $528,778 $3,030 6.60%
    47% 44 $24,980,000 $567,727 $3,926 6.64%
    40% 41 $21,475,000 $523,780 $4,179 6.36%
    43% 33 $17,105,000 $518,333 $2,408 6.50%
    42% 32 $16,580,000 $518,125 $3,165 6.43%
    36% 29 $13,225,000 $456,034 $2,706 6.28%
    45% 27 $14,375,000 $532,407 $4,143 6.44%
    41% 26 $14,070,000 $541,154 $3,764 6.33%
    39% 26 $13,130,000 $505,000 $2,674 6.49%
    38% 25 $13,685,000 $547,400 $3,483 6.35%
    37% 25 $11,975,000 $479,000 $3,302 6.33%
    >60% 9 $6,415,000 $712,778 $8,559 6.28%

    Shea Mortgage lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? 30-36%, with 131 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 602 $275,640,000 $457,874 $3,517 6.34%
    Asian 201 $117,935,000 $586,741 $4,031 6.59%
    Not provided 90 $44,200,000 $491,111 $4,576 5.93%
    Black 32 $19,030,000 $594,688 $7,276 5.82%
    American Indian 8 $2,940,000 $367,500 $3,864 5.91%
    Asian Indian 4 $1,800,000 $450,000 $846 7.19%
    Native Hawaiian or Islander 1 $525,000 $525,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    97.40%

    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
    36.67%

    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 938 $462,070,000 $492,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    938 $462,070,000 $492,612

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $29,660,000 $239,194 $1,843 6.26%
    40-60% 158 $69,330,000 $438,797 $2,811 6.42%
    60-80% 284 $161,440,000 $568,451 $3,545 6.56%
    80-100% 327 $191,535,000 $585,734 $5,267 6.19%
    Over 100% 5 $4,215,000 $843,000 $25,604 5.90%
    Under 20% 40 $5,890,000 $147,250 $1,913 5.97%