Franklin Loan Corporation Mortgage Rates, Fees & Info
Palm Desert, CALEI: 254900RQX8N4HXJIDK44
Tax ID: 33-0397503
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Franklin Loan Corporation is a small mortgage company specializing in Home Purchase and Refi loans. Franklin Loan Corporation 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: Riverside, Los Angeles, San Diego, Denver, and San Francisco among others. We have data for 103 markets. (Some data included below & more in-depth data is available with an active subscription.)Franklin Loan Corporation 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. Franklin Loan Corporation 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 11/26/22 |
| 30 Year Conventional Refi | 6.82% | 11/26/22 |
| 30 Year Cash-out Refi | 6.98% | 11/26/22 |
| 30 Year FHA Purchase | 7.95% | 11/26/22 |
| 30 Year FHA Refi | 7.43% | 11/26/22 |
| 30 Year VA Purchase | 6.77% | 11/26/22 |
| 30 Year VA Refi | 6.45% | 11/26/22 |
| 30 Year USDA Purchase | 7.22% | 11/26/22 |
| 15 Year Conventional Purchase | 6.30% | 11/26/22 |
| 15 Year Conventional Refi | 6.23% | 11/26/22 |
| 15 Year Cash-out Refi | 6.23% | 11/26/22 |
| 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
4,586Origination Dollar Volume (All Markets)
$1,907,120,000Relative Rate
Franklin Loan Corporation's average 30 year fixed mortgage rate was
3.09%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.06%.
Relative Fees (Closing Costs)
Franklin Loan Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,649.
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 |
|---|---|---|---|---|---|
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3,011 | $1,082,855,000 | $359,633 | $6,342 | 3.03% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 625 | $382,915,000 | $612,664 | $7,394 | 3.16% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 289 | $165,855,000 | $573,893 | $6,876 | 3.06% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 124 | $43,330,000 | $349,435 | $6,225 | 3.17% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 47 | $33,335,000 | $709,255 | $7,747 | 3.04% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 54 | $18,850,000 | $349,074 | $6,790 | 3.18% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 21 | $15,625,000 | $744,048 | $10,467 | 3.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 31 | $14,855,000 | $479,194 | $7,025 | 3.19% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 23 | $13,635,000 | $592,826 | $5,467 | 3.18% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 44 | $12,370,000 | $281,136 | $5,175 | 3.21% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 17 | $9,745,000 | $573,235 | $7,135 | 3.21% |
| FORT COLLINS, CO (FHA|USDA|VA) | 20 | $6,190,000 | $309,500 | $3,947 | 2.99% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 12 | $5,000,000 | $416,667 | $4,744 | 3.11% |
| BOISE CITY, ID (FHA|USDA|VA) | 10 | $4,250,000 | $425,000 | $6,401 | 3.16% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 12 | $3,820,000 | $318,333 | $4,785 | 3.35% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 6 | $3,420,000 | $570,000 | $4,901 | 3.27% |
| Outside of Metro Areas | 12 | $3,210,000 | $267,500 | $5,745 | 3.05% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 7 | $3,175,000 | $453,571 | $5,459 | 2.89% |
| SALINAS, CA (FHA|USDA|VA) | 6 | $3,130,000 | $521,667 | $4,793 | 2.90% |
| GREELEY, CO (FHA|USDA|VA) | 9 | $3,105,000 | $345,000 | $5,287 | 2.93% |
| FRESNO, CA (FHA|USDA|VA) | 11 | $3,105,000 | $282,273 | $6,678 | 2.60% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 10 | $3,090,000 | $309,000 | $5,880 | 3.40% |
| Outside of Metro Areas | 7 | $2,885,000 | $412,143 | $5,903 | 3.50% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 4 | $2,810,000 | $702,500 | $6,686 | 3.03% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 4 | $2,760,000 | $690,000 | $11,030 | 2.90% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 7 | $2,715,000 | $387,857 | $5,327 | 3.23% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 3 | $2,655,000 | $885,000 | $11,055 | 3.42% |
| VALLEJO, CA (FHA|USDA|VA) | 5 | $2,515,000 | $503,000 | $9,307 | 3.03% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 5 | $2,315,000 | $463,000 | $6,274 | 3.25% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 5 | $2,285,000 | $457,000 | $5,982 | 3.03% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 8 | $2,200,000 | $275,000 | $5,664 | 2.91% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $2,060,000 | $1,030,000 | $8,180 | 4.44% |
| BOULDER, CO (FHA|USDA|VA) | 5 | $2,055,000 | $411,000 | $8,726 | 2.65% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $2,035,000 | $678,333 | $10,883 | 3.46% |
| EL CENTRO, CA (FHA|USDA|VA) | 8 | $1,970,000 | $246,250 | $6,632 | 3.30% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,875,000 | $625,000 | $7,858 | 3.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $1,835,000 | $367,000 | $7,971 | 3.70% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 4 | $1,630,000 | $407,500 | $8,148 | 3.25% |
| MODESTO, CA (FHA|USDA|VA) | 4 | $1,540,000 | $385,000 | $8,577 | 2.91% |
| Kapaa, HI (FHA|USDA|VA) | 2 | $1,350,000 | $675,000 | $6,567 | 3.44% |
| YUBA CITY, CA (FHA|USDA|VA) | 4 | $1,330,000 | $332,500 | $2,845 | 3.13% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $1,305,000 | $1,305,000 | $8,379 | 3.38% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $5,270 | 2.85% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $1,255,000 | $1,255,000 | $34,331 | 3.50% |
| Fernley, NV (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $3,291 | 3.44% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $4,172 | 3.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,100 | 3.42% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $7,161 | 3.08% |
| PITTSBURGH, PA (FHA|USDA|VA) | 7 | $1,015,000 | $145,000 | $6,889 | 3.66% |
| LAS CRUCES, NM (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $5,107 | 2.91% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $10,354 | 2.75% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $4,936 | 3.31% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,947 | 2.88% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $3,346 | 3.33% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $3,642 | 3.46% |
| MERCED, CA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $3,965 | 3.06% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $5,280 | 3.13% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $5,533 | 3.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $4,457 | 3.13% |
| BEND, OR (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,082 | 3.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $6,558 | 3.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $6,378 | 3.31% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,924 | 2.88% |
| Sandpoint, ID (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $23,297 | 2.75% |
| REDDING, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $6,395 | 2.63% |
| MADERA, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $600 | 2.63% |
| NAPA, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $6,770 | 3.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $6,895 | 3.00% |
| RENO, NV (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $12,283 | 3.13% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,342 | 3.50% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,060 | 3.13% |
| Durango, CO (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,207 | 2.75% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,686 | 3.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,176 | 3.00% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $10,936 | 3.25% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,898 | 2.75% |
| TYLER, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,305 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $8,057 | 4.63% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $9,490 | 3.75% |
| Hilo, HI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,093 | 2.75% |
| Montrose, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,966 | 2.99% |
| Edwards, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,050 | 2.99% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,391 | 3.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $3,869 | 3.63% |
| Safford, AZ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $13,781 | 3.25% |
| Sterling, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,417 | 3.25% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,459 | 3.25% |
| Brookings, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,615 | 3.00% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,020 | 3.13% |
| SALEM, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,259 | 3.00% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,649 | 3.38% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,184 | 2.63% |
| Sonora, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,889 | 3.00% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,947 | 3.63% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,524 | 3.00% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,297 | 3.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,839 | 3.25% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,565 | 3.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,844 | 3.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,630 | 3.13% |
| Susanville, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,963 | 3.00% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,032 | 3.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,348 | 3.63% |
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Product Mix
For 2021, Franklin Loan Corporation's most frequently originated type of loan was Conventional, with 3,957 originations. Their 2nd most popular type was FHA, with 432 originations.
Loan Reason
For 2021, Franklin Loan Corporation's most frequently cited loan purpose was Home Purchase, with 2,570 originations. The 2nd most popular reason was Refi, with 1,077 originations.
Loan Duration/Length
For 2021, Franklin Loan Corporation's most frequently cited loan duration was 30 Year, with 4,291 originations. The 2nd most popular length was 15 Year, with 177 originations.
Origination Fees/Closing Costs
Franklin Loan Corporation's average total fees were $6,649, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,852 originations.
Interest Rates
During 2021, Franklin Loan Corporation's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 3-4%, with 2,317 originations.
Loan Sizing
2021 saw Franklin Loan Corporation place emphasis on $200k-400k loans with 1,972 originations, totaling $598,780,000 in origination value.
Applicant Income
Franklin Loan Corporation lent most frequently to those with incomes in the $100k-150k range, with 1,106 originations. The second most popular income band? $150k-250k, with 966 originations.
Applicant Debt to Income Ratio
Franklin Loan Corporation lent most frequently to those with DTI ratios of 20-30%, with 743 originations. The next most common DTI ratio? 30-36%, with 732 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.27%
Franklin Loan Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.43%
Franklin Loan Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,586 | $1,907,120,000 | $415,857 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,586 | $1,907,120,000 | $415,857 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FRANKLIN LOAN CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| FRANKLIN LOAN CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
