Schoolsfirst Mortgage Rates, Fees & Info
Santa Ana, CALEI: 5493001NJEVHTZW7FG34
Tax ID: 95-1068595
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Mortgage Data
Review & Overview
Schoolsfirst is a small mortgage company specializing in Home Improvement 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 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.06% | 12/2/24 |
30 Year Conventional Refi | 6.20% | 12/2/24 |
30 Year Cash-out Refi | 6.28% | 12/2/24 |
30 Year FHA Purchase | 6.32% | 12/2/24 |
15 Year Conventional Purchase | 5.65% | 12/2/24 |
15 Year Conventional Refi | 5.42% | 12/2/24 |
15 Year Cash-out Refi | 5.42% | 12/2/24 |
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. |
Schoolsfirst Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
10,456Origination Dollar Volume (All Markets)
$1,932,350,000SCHOOLSFIRST - 2023
SCHOOLSFIRST is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Schoolsfirst's average 30 year fixed mortgage rate was
6.28%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.2%.
Relative Fees (Closing Costs)
Schoolsfirst's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,525.
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 |
---|---|---|---|---|---|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5,850 | $1,219,300,000 | $208,427 | $1,790 | 7.29% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3,093 | $457,945,000 | $148,059 | $1,375 | 7.35% |
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 812 | $103,440,000 | $127,389 | $780 | 7.31% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 222 | $55,700,000 | $250,901 | $2,796 | 7.22% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 41 | $19,765,000 | $482,073 | $3,428 | 6.67% |
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 50 | $12,560,000 | $251,200 | $2,859 | 7.23% |
YUBA CITY, CA (FHA|USDA|VA) | 95 | $10,435,000 | $109,842 | $826 | 7.31% |
BAKERSFIELD, CA (FHA|USDA|VA) | 51 | $8,265,000 | $162,059 | $2,609 | 7.12% |
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 22 | $6,000,000 | $272,727 | $2,069 | 6.79% |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 9 | $4,715,000 | $523,889 | $4,060 | 6.82% |
SALINAS, CA (FHA|USDA|VA) | 16 | $4,460,000 | $278,750 | $2,621 | 7.28% |
Outside of Metro Areas | 28 | $4,450,000 | $158,929 | $1,788 | 7.27% |
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 12 | $3,150,000 | $262,500 | $2,292 | 7.31% |
FRESNO, CA (FHA|USDA|VA) | 14 | $2,720,000 | $194,286 | $2,796 | 7.87% |
CHICO, CA (FHA|USDA|VA) | 24 | $2,550,000 | $106,250 | $538 | 6.84% |
STOCKTON, CA (FHA|USDA|VA) | 23 | $2,295,000 | $99,783 | $598 | 7.32% |
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 12 | $2,110,000 | $175,833 | $1,569 | 7.09% |
MODESTO, CA (FHA|USDA|VA) | 12 | $2,060,000 | $171,667 | $1,147 | 7.10% |
Truckee-Grass Valley, CA (FHA|USDA|VA) | 14 | $1,710,000 | $122,143 | $719 | 7.24% |
VISALIA, CA (FHA|USDA|VA) | 5 | $1,375,000 | $275,000 | $2,436 | 6.88% |
Clearlake, CA (FHA|USDA|VA) | 6 | $1,160,000 | $193,333 | $3,483 | 7.10% |
VALLEJO, CA (FHA|USDA|VA) | 11 | $985,000 | $89,545 | $451 | 7.59% |
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $3,165 | 7.35% |
REDDING, CA (FHA|USDA|VA) | 6 | $710,000 | $118,333 | $1,019 | 7.08% |
HANFORD-CORCORAN, CA (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $2,175 | 6.83% |
Eureka-Arcata, CA (FHA|USDA|VA) | 6 | $670,000 | $111,667 | $613 | 7.50% |
EL CENTRO, CA (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $1,835 | 7.38% |
Red Bluff, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,338 | 7.00% |
MADERA, CA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,480 | 6.94% |
Ukiah, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $8,880 | 6.75% |
NAPA, CA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 7.38% |
Sonora, CA (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 7.56% |
MERCED, CA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 7.75% |
Their top states include:
Similar Lenders
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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Product Mix
For 2023, Schoolsfirst's most frequently originated type of loan was Conventional, with 5,729 originations. Their 2nd most popular type was HELOC, with 4,695 originations.
Loan Reason
For 2023, Schoolsfirst's most frequently cited loan purpose was Home Improvement, with 4,848 originations. The 2nd most popular reason was Other, with 2,416 originations.
Loan Duration/Length
For 2023, Schoolsfirst's most frequently cited loan duration was Other, with 4,695 originations. The 2nd most popular length was 15 Year, with 2,221 originations.
Origination Fees/Closing Costs
Schoolsfirst's average total fees were $5,525, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5,354 originations.
Interest Rates
During 2023, Schoolsfirst's average interest rate for loans was 6.28%, while their most frequently originated rate bucket for loans was 7-8%, with 4,058 originations.
Loan Sizing
2023 saw Schoolsfirst place emphasis on $100,000 or less loans with 4,413 originations, totaling $254,185,000 in origination value.
Applicant Income
Schoolsfirst lent most frequently to those with incomes in the $100k-150k range, with 3,329 originations. The second most popular income band? $150k-250k, with 3,218 originations.
Applicant Debt to Income Ratio
Schoolsfirst lent most frequently to those with DTI ratios of 50-60%, with 2,190 originations. The next most common DTI ratio? 30-36%, with 1,368 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.69%
Schoolsfirst has an average approval rate.
Pick Rate
Approvals leading to origination86.42%
Schoolsfirst has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 10,456 | $1,932,350,000 | $184,808 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
10,456 | $1,932,350,000 | $184,808 |