Schoolsfirst Mortgage Rates, Fees & Info

Santa Ana, CA

LEI: 5493001NJEVHTZW7FG34

Tax ID: 95-1068595

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

Jump to:

Mortgage Data

Review & Overview

Schoolsfirst is a small mortgage company specializing in Cash Out Refi and Home Purchase loans. Schoolsfirst has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, San Francisco, and Oxnard among others. We have data for 30 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 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.

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 6.06% 4/22/24
30 Year Conventional Refi 6.20% 4/22/24
30 Year Cash-out Refi 6.28% 4/22/24
30 Year FHA Purchase 6.32% 4/22/24
15 Year Conventional Purchase 5.65% 4/22/24
15 Year Conventional Refi 5.42% 4/22/24
15 Year Cash-out Refi 5.42% 4/22/24
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






Your Estimates

Estimated 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.


Originations

7,835

Origination Dollar Volume (All Markets)

$1,518,805,000
Show all (8) awards

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) 5,424 $1,122,710,000 $206,989 $2,154 4.77%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2,118 $333,110,000 $157,276 $1,877 4.91%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 121 $23,265,000 $192,273 $2,097 4.82%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 33 $11,625,000 $352,273 $3,099 4.67%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 25 $8,415,000 $336,600 $4,185 4.86%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 21 $3,725,000 $177,381 $2,008 4.86%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 15 $3,285,000 $219,000 $3,292 4.61%
BAKERSFIELD, CA (FHA|USDA|VA) 21 $2,765,000 $131,667 $3,073 4.92%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 9 $1,615,000 $179,444 $2,194 4.76%
Outside of Metro Areas 6 $1,430,000 $238,333 $2,763 4.79%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $1,395,000 $199,286 $1,503 4.23%
Truckee-Grass Valley, CA (FHA|USDA|VA) 3 $735,000 $245,000 $2,999 4.00%
FRESNO, CA (FHA|USDA|VA) 4 $710,000 $177,500 $2,006 4.56%
STOCKTON, CA (FHA|USDA|VA) 5 $665,000 $133,000 $451 5.15%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $495,000 $165,000 $2,775 5.17%
SALINAS, CA (FHA|USDA|VA) 2 $460,000 $230,000 $3,211 4.38%
REDDING, CA (FHA|USDA|VA) 1 $385,000 $385,000 $9,071 4.50%
VISALIA, CA (FHA|USDA|VA) 2 $350,000 $175,000 $1,261 4.69%
MODESTO, CA (FHA|USDA|VA) 1 $345,000 $345,000 $5,310 4.88%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 2 $300,000 $150,000 $1,436 4.56%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $200,000 $100,000 $0 4.37%
EL CENTRO, CA (FHA|USDA|VA) 2 $190,000 $95,000 $2,627 4.44%
Clearlake, CA (FHA|USDA|VA) 1 $155,000 $155,000 $2,297 4.75%
Crescent City, CA (FHA|USDA|VA) 1 $145,000 $145,000 $1,922 4.88%
CHICO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $2,214 4.75%
MADERA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.25%
Sonora, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.38%
VALLEJO, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.00%
YUBA CITY, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
Ukiah, CA (FHA|USDA|VA) 1 $15,000 $15,000 $0 5.50%
Schoolsfirst's top markets include Los Angeles, Riverside, San Diego, San Francisco, and Oxnard among others.

Their top states include:
  • California (FHA|USDA|VA)
  • 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.

    MYPOINT Credit Union
    Similarity Rank: 55
    SESLOC
    Similarity Rank: 70
    SAFE 1 CREDIT UNION
    Similarity Rank: 96
    FRONTWAVE
    Similarity Rank: 176
    COASTHILLS
    Similarity Rank: 184
    CBC Federal Credit Union
    Similarity Rank: 189
    Sierra Central Credit Union
    Similarity Rank: 192
    LBS FINANCIAL
    Similarity Rank: 210
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 216
    Montecito Bank & Trust
    Similarity Rank: 216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,953 $1,167,165,000 $235,648 $2,077 4.79%
    HELOC 2,882 $351,640,000 $122,012 n/a 4.85%

    For 2018, Schoolsfirst's most frequently originated type of loan was Conventional, with 4,953 originations. Their 2nd most popular type was HELOC, with 2,882 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 4,336 $707,850,000 $163,250 $1,331 4.86%
    Home Improvement 1,485 $143,325,000 $96,515 $185 5.02%
    Home Purchase 1,114 $480,410,000 $431,248 $4,978 4.54%
    Refi 496 $148,910,000 $300,222 $2,507 4.25%
    Other 404 $38,310,000 $94,827 $182 4.96%

    For 2018, Schoolsfirst's most frequently cited loan purpose was Cash Out Refi, with 4,336 originations. The 2nd most popular reason was Home Improvement, with 1,485 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,931 $354,055,000 $120,797 $0 4.85%
    30 Year 2,163 $895,615,000 $414,061 $4,004 4.50%
    15 Year 1,619 $181,815,000 $112,301 $737 4.94%
    10 Year 745 $43,135,000 $57,899 $181 4.85%
    20 Year 377 $44,185,000 $117,202 $663 5.61%

    For 2018, Schoolsfirst's most frequently cited loan duration was Other, with 2,931 originations. The 2nd most popular length was 30 Year, with 2,163 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 4,179 $919,495,000 $220,028
    $1k-2k 301 $73,965,000 $245,731
    $5k+ 149 $68,615,000 $460,503
    $2k-3k 147 $47,485,000 $323,027
    $3k-4k 85 $32,065,000 $377,235
    $4k-5k 64 $23,620,000 $369,063

    Schoolsfirst's average total fees were $4,004, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 4,713 $1,052,435,000 $223,305
    5-6% 1,824 $211,130,000 $115,751
    3-4% 635 $184,285,000 $290,213
    2.5-3% 336 $45,240,000 $134,643
    6-7% 298 $24,070,000 $80,772
    7-8% 28 $1,540,000 $55,000
    Over 8% 1 $105,000 $105,000

    During 2018, Schoolsfirst's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 4,713 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,319 $182,275,000 $54,919 $128 5.06%
    $100k-200k 1,775 $232,675,000 $131,085 $1,562 4.78%
    $200k-400k 1,461 $412,415,000 $282,283 $3,548 4.56%
    $400k-600k 970 $476,070,000 $490,794 $4,124 4.51%
    $600k-1MM 302 $206,390,000 $683,411 $4,555 4.40%
    $1MM+ 8 $8,980,000 $1,122,500 $8,960 4.44%

    2018 saw Schoolsfirst place emphasis on $100,000 or less loans with 3,319 originations, totaling $182,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 2,601 $516,105,000 $198,426 $2,073 4.85%
    $150k-250k 2,014 $474,000,000 $235,353 $2,121 4.85%
    $75k-100k 1,453 $234,105,000 $161,118 $1,944 4.80%
    $50k-75k 970 $134,070,000 $138,216 $2,049 4.69%
    $50k or less 399 $46,175,000 $115,727 $2,396 4.61%
    $250k+ 351 $104,975,000 $299,074 $2,163 4.86%

    Schoolsfirst lent most frequently to those with incomes in the $100k-150k range, with 2,601 originations. The second most popular income band? $150k-250k, with 2,014 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 1,458 $277,750,000 $190,501 $1,986 4.81%
    20-30% 1,201 $227,585,000 $189,496 $2,174 4.69%
    50-60% 465 $85,215,000 $183,258 $1,575 4.90%
    41% 388 $75,220,000 $193,866 $1,925 4.87%
    38% 361 $71,225,000 $197,299 $1,950 4.83%
    40% 351 $66,915,000 $190,641 $1,980 4.85%
    39% 336 $66,910,000 $199,137 $2,175 4.87%
    42% 334 $68,150,000 $204,042 $2,095 4.84%
    43% 333 $69,185,000 $207,763 $2,076 4.87%
    45% 318 $54,850,000 $172,484 $1,527 4.99%
    44% 311 $58,615,000 $188,473 $2,000 4.94%
    36% 302 $60,570,000 $200,563 $2,444 4.72%
    37% 290 $65,060,000 $224,345 $2,652 4.72%
    46% 275 $54,685,000 $198,855 $2,006 4.84%
    <20% 272 $42,250,000 $155,331 $2,386 4.55%
    47% 269 $52,455,000 $195,000 $1,933 4.87%
    48% 252 $50,040,000 $198,571 $2,138 4.91%
    49% 233 $44,215,000 $189,764 $1,775 4.84%
    >60% 86 $27,910,000 $324,535 $4,470 4.69%

    Schoolsfirst lent most frequently to those with DTI ratios of 30-36%, with 1,458 originations. The next most common DTI ratio? 20-30%, with 1,201 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6,275 $1,208,235,000 $192,547 $2,052 4.81%
    Asian 664 $154,790,000 $233,117 $2,513 4.74%
    Not provided 572 $93,700,000 $163,811 $1,837 4.81%
    Black 211 $43,635,000 $206,801 $2,267 5.01%
    American Indian 77 $11,115,000 $144,351 $1,579 5.09%
    Native Hawaiian or Islander 33 $7,055,000 $213,788 $2,312 4.81%
    Not applicable 3 $275,000 $91,667 $0 5.17%

    Approval Rates

    Total approvals of all applications
    88.35%

    Schoolsfirst has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.66%

    Schoolsfirst has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 7,835 $1,518,805,000 $193,849

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $795,000 $159,000
    Single Family (1-4 Units):Site-Built 7,830 $1,518,010,000 $193,871

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,218 $221,730,000 $182,044 $1,595 4.76%
    40-60% 642 $197,550,000 $307,710 $2,896 4.40%
    60-80% 1,040 $447,150,000 $429,952 $3,931 4.44%
    80-100% 778 $354,010,000 $455,026 $4,679 4.59%
    Under 20% 4,157 $298,365,000 $71,774 $124 5.02%