Schoolsfirst Mortgage Rates, Fees & Info
Santa Ana, CALEI: 5493001NJEVHTZW7FG34
Tax ID: 95-1068595
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Mortgage Data
Review & Overview
Schoolsfirst is a mid-sized mortgage company specializing in Cash Out Refi and Refi loans. Schoolsfirst has a high proportion of conventional loans. 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.06% | 4/19/24 |
| 30 Year Conventional Refi | 6.20% | 4/19/24 |
| 30 Year Cash-out Refi | 6.28% | 4/19/24 |
| 30 Year FHA Purchase | 6.32% | 4/19/24 |
| 15 Year Conventional Purchase | 5.65% | 4/19/24 |
| 15 Year Conventional Refi | 5.42% | 4/19/24 |
| 15 Year Cash-out Refi | 5.42% | 4/19/24 |
| 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
13,381Origination Dollar Volume (All Markets)
$4,028,675,000Awards
SCHOOLSFIRST - 2021
SCHOOLSFIRST is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 7,897 | $2,602,735,000 | $329,585 | $3,322 | 3.28% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3,754 | $979,230,000 | $260,850 | $3,219 | 3.27% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1,024 | $227,500,000 | $222,168 | $2,684 | 3.30% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 223 | $80,545,000 | $361,188 | $3,983 | 3.32% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 54 | $23,580,000 | $436,667 | $3,558 | 3.24% |
| YUBA CITY, CA (FHA|USDA|VA) | 84 | $14,840,000 | $176,667 | $2,748 | 3.29% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 38 | $13,980,000 | $367,895 | $3,194 | 3.16% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 24 | $9,400,000 | $391,667 | $2,787 | 3.02% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 41 | $9,335,000 | $227,683 | $3,431 | 3.07% |
| VALLEJO, CA (FHA|USDA|VA) | 21 | $7,215,000 | $343,571 | $4,959 | 3.39% |
| Outside of Metro Areas | 29 | $6,555,000 | $226,034 | $2,927 | 2.96% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 12 | $6,300,000 | $525,000 | $3,576 | 2.94% |
| STOCKTON, CA (FHA|USDA|VA) | 25 | $5,725,000 | $229,000 | $3,160 | 3.18% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 16 | $5,590,000 | $349,375 | $2,238 | 3.56% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 17 | $5,295,000 | $311,471 | $3,356 | 3.22% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 13 | $4,645,000 | $357,308 | $3,383 | 3.21% |
| CHICO, CA (FHA|USDA|VA) | 18 | $3,750,000 | $208,333 | $3,129 | 3.18% |
| SALINAS, CA (FHA|USDA|VA) | 8 | $3,230,000 | $403,750 | $2,931 | 3.03% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 6 | $2,460,000 | $410,000 | $3,795 | 3.23% |
| VISALIA, CA (FHA|USDA|VA) | 10 | $2,380,000 | $238,000 | $3,454 | 3.01% |
| EL CENTRO, CA (FHA|USDA|VA) | 14 | $2,360,000 | $168,571 | $2,118 | 2.97% |
| MADERA, CA (FHA|USDA|VA) | 10 | $2,230,000 | $223,000 | $3,058 | 3.26% |
| MODESTO, CA (FHA|USDA|VA) | 7 | $1,635,000 | $233,571 | $2,405 | 3.16% |
| Sonora, CA (FHA|USDA|VA) | 4 | $1,570,000 | $392,500 | $4,240 | 2.97% |
| FRESNO, CA (FHA|USDA|VA) | 8 | $1,290,000 | $161,250 | $2,276 | 3.41% |
| NAPA, CA (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $7,882 | 3.34% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $4,113 | 3.43% |
| Ukiah, CA (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $2,341 | 3.22% |
| Red Bluff, CA (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $2,541 | 2.84% |
| MERCED, CA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $2,926 | 2.75% |
| REDDING, CA (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $2,286 | 3.79% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,070 | 3.00% |
| Susanville, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,565 | 2.63% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 10,098 | $3,624,790,000 | $358,961 | $3,246 | 2.99% |
| HELOC | 3,283 | $403,885,000 | $123,023 | n/a | 4.14% |
For 2021, Schoolsfirst's most frequently originated type of loan was Conventional, with 10,098 originations. Their 2nd most popular type was HELOC, with 3,283 originations.
Loan Reason
For 2021, Schoolsfirst's most frequently cited loan purpose was Cash Out Refi, with 4,478 originations. The 2nd most popular reason was Refi, with 3,873 originations.
Loan Duration/Length
For 2021, Schoolsfirst's most frequently cited loan duration was 30 Year, with 5,824 originations. The 2nd most popular length was Other, with 3,283 originations.
Origination Fees/Closing Costs
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 6,738 originations.
Interest Rates
During 2021, Schoolsfirst's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 3-4%, with 6,531 originations.
Loan Sizing
2021 saw Schoolsfirst place emphasis on $200k-400k loans with 4,636 originations, totaling $1,328,780,000 in origination value.
Applicant Income
Schoolsfirst lent most frequently to those with incomes in the $100k-150k range, with 4,019 originations. The second most popular income band? $150k-250k, with 3,625 originations.
Applicant Debt to Income Ratio
Schoolsfirst lent most frequently to those with DTI ratios of 20-30%, with 3,024 originations. The next most common DTI ratio? 30-36%, with 2,559 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.54%
Schoolsfirst has an average approval rate.
Pick Rate
Approvals leading to origination81.62%
Schoolsfirst has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 13,381 | $4,028,675,000 | $301,074 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 13,381 | $4,028,675,000 | $301,074 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SCHOOLSFIRST FEDERAL CREDIT UNION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 50.0% |
| SCHOOLSFIRST FEDERAL CREDIT UNION | Other type of mortgage | Struggling to pay mortgage | 1 | 50.0% |