Schoolsfirst Mortgage Rates, Fees & InfoSanta Ana, CA
Tax ID: 95-1068595
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSchoolsfirst is a small mortgage company specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Schoolsfirst 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: Los Angeles, Riverside, Sacramento, San Diego, and San Francisco among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)
Schoolsfirst 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. Schoolsfirst 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.06%||11/30/23|
|30 Year Conventional Refi||6.20%||11/30/23|
|30 Year Cash-out Refi||6.28%||11/30/23|
|30 Year FHA Purchase||6.32%||11/30/23|
|15 Year Conventional Purchase||5.65%||11/30/23|
|15 Year Conventional Refi||5.42%||11/30/23|
|15 Year Cash-out Refi||5.42%||11/30/23|
|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.|
Schoolsfirst Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Schoolsfirst. 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.
Origination Dollar Volume (All Markets)$2,957,405,000
SCHOOLSFIRST - 2022
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For 2022, less than of lenders were eligible for this award.
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Schoolsfirst'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 -0.61%.
Relative Fees (Closing Costs)
Schoolsfirst's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,947.
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|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||7,181||$1,830,025,000||$254,843||$2,942||4.13%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||3,760||$740,000,000||$196,809||$2,450||4.34%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||1,059||$179,205,000||$169,221||$1,658||4.16%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||285||$86,615,000||$303,912||$3,632||4.28%|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||60||$22,590,000||$376,500||$3,681||4.23%|
|OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA)||43||$16,605,000||$386,163||$4,703||4.04%|
|YUBA CITY, CA (FHA|USDA|VA)||102||$12,540,000||$122,941||$1,313||4.24%|
|BAKERSFIELD, CA (FHA|USDA|VA)||48||$11,860,000||$247,083||$3,248||4.28%|
|Outside of Metro Areas||30||$5,990,000||$199,667||$2,583||4.41%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||10||$5,050,000||$505,000||$6,874||4.10%|
|VISALIA, CA (FHA|USDA|VA)||14||$4,300,000||$307,143||$4,660||4.24%|
|SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA)||18||$4,180,000||$232,222||$2,812||4.71%|
|SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA)||18||$4,090,000||$227,222||$1,695||3.71%|
|CHICO, CA (FHA|USDA|VA)||15||$3,925,000||$261,667||$3,012||4.53%|
|Truckee-Grass Valley, CA (FHA|USDA|VA)||20||$3,280,000||$164,000||$1,453||3.74%|
|VALLEJO, CA (FHA|USDA|VA)||16||$3,140,000||$196,250||$2,895||3.87%|
|STOCKTON, CA (FHA|USDA|VA)||28||$3,060,000||$109,286||$879||3.57%|
|SANTA ROSA-PETALUMA, CA (FHA|USDA|VA)||9||$2,875,000||$319,444||$4,266||3.48%|
|FRESNO, CA (FHA|USDA|VA)||18||$2,840,000||$157,778||$2,888||4.19%|
|SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA)||5||$2,385,000||$477,000||$3,564||4.20%|
|MERCED, CA (FHA|USDA|VA)||7||$1,975,000||$282,143||$2,300||4.59%|
|MODESTO, CA (FHA|USDA|VA)||6||$1,670,000||$278,333||$3,667||4.73%|
|SALINAS, CA (FHA|USDA|VA)||6||$1,520,000||$253,333||$2,433||4.71%|
|REDDING, CA (FHA|USDA|VA)||9||$1,485,000||$165,000||$2,402||3.83%|
|NAPA, CA (FHA|USDA|VA)||5||$1,405,000||$281,000||$1,779||4.85%|
|EL CENTRO, CA (FHA|USDA|VA)||9||$1,365,000||$151,667||$1,986||5.06%|
|HANFORD-CORCORAN, CA (FHA|USDA|VA)||5||$925,000||$185,000||$1,536||4.95%|
|MADERA, CA (FHA|USDA|VA)||3||$735,000||$245,000||$4,813||4.29%|
|Sonora, CA (FHA|USDA|VA)||4||$690,000||$172,500||$3,254||4.56%|
|Eureka-Arcata, CA (FHA|USDA|VA)||2||$530,000||$265,000||$3,328||4.94%|
|Clearlake, CA (FHA|USDA|VA)||1||$245,000||$245,000||$6,705||3.38%|
|Crescent City, CA (FHA|USDA|VA)||2||$190,000||$95,000||$0||3.25%|
|Red Bluff, CA (FHA|USDA|VA)||1||$115,000||$115,000||$0||5.50%|
We use machine learning to identify the top lenders compared against SCHOOLSFIRST 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, Schoolsfirst's most frequently originated type of loan was Conventional, with 6,948 originations. Their 2nd most popular type was HELOC, with 5,846 originations.
For 2022, Schoolsfirst's most frequently cited loan purpose was Home Improvement, with 5,809 originations. The 2nd most popular reason was Cash Out Refi, with 2,698 originations.
For 2022, Schoolsfirst's most frequently cited loan duration was Other, with 5,846 originations. The 2nd most popular length was 30 Year, with 3,142 originations.
Origination Fees/Closing Costs
Schoolsfirst's average total fees were $4,947, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5,514 originations.
During 2022, Schoolsfirst's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 4-5%, with 3,731 originations.
2022 saw Schoolsfirst place emphasis on $100,000 or less loans with 4,025 originations, totaling $236,855,000 in origination value.
Schoolsfirst lent most frequently to those with incomes in the $100k-150k range, with 4,069 originations. The second most popular income band? $150k-250k, with 4,036 originations.
Applicant Debt to Income Ratio
Schoolsfirst lent most frequently to those with DTI ratios of 30-36%, with 2,057 originations. The next most common DTI ratio? 20-30%, with 1,695 originations.
Approval RatesTotal approvals of all applications
Schoolsfirst has an average approval rate.
Pick RateApprovals leading to origination
Schoolsfirst has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
Occupancy Type Mix
|Dwelling Type||Originations||Total Value||Average Loan|