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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Schoolsfirst 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    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

    12,799

    Origination Dollar Volume (All Markets)

    $2,957,405,000
    Show all (13) 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) 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%
    Schoolsfirst's top markets include Los Angeles, Riverside, Sacramento, San Diego, and San Francisco 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.

    MISSION
    Similarity Rank: 30
    AltaOne Federal Credit Union
    Similarity Rank: 49
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 54
    SAFE 1 CREDIT UNION
    Similarity Rank: 57
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 77
    Sierra Central Credit Union
    Similarity Rank: 152
    STRATA Credit Union
    Similarity Rank: 222
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 236
    Los Angeles Federal Credit Union
    Similarity Rank: 248
    COASTHILLS
    Similarity Rank: 408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 6,948 $2,167,010,000 $311,890 $2,670 4.30%
    HELOC 5,846 $787,960,000 $134,786 n/a 4.08%
    FHA 5 $2,435,000 $487,000 $11,925 5.80%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 5,809 $675,375,000 $116,264 $151 4.34%
    Cash Out Refi 2,698 $784,000,000 $290,586 $2,978 3.86%
    Home Purchase 1,819 $1,086,095,000 $597,084 $5,881 4.48%
    Other 1,806 $203,500,000 $112,680 $140 4.44%
    Refi 667 $208,435,000 $312,496 $2,664 3.01%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 5,846 $787,960,000 $134,786 $0 4.08%
    30 Year 3,142 $1,641,540,000 $522,451 $4,947 4.15%
    15 Year 2,256 $350,040,000 $155,160 $866 4.27%
    10 Year 827 $70,155,000 $84,831 $379 4.11%
    20 Year 728 $107,710,000 $147,953 $605 5.31%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 5,514 $1,625,130,000 $294,728
    $1k-2k 474 $140,640,000 $296,709
    $5k+ 281 $158,295,000 $563,327
    $2k-3k 268 $103,950,000 $387,873
    $3k-4k 118 $49,820,000 $422,203
    $4k-5k 99 $44,675,000 $451,263

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 3,731 $890,385,000 $238,645
    <2.5% 2,586 $427,920,000 $165,476
    5-6% 2,500 $488,150,000 $195,260
    3-4% 2,412 $847,710,000 $351,455
    6-7% 885 $124,945,000 $141,181
    2.5-3% 453 $151,025,000 $333,389
    7-8% 230 $27,020,000 $117,478
    Over 8% 2 $250,000 $125,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 4,025 $236,855,000 $58,846 $109 4.45%
    $100k-200k 3,583 $481,475,000 $134,378 $997 4.22%
    $200k-400k 2,968 $797,380,000 $268,659 $3,248 3.89%
    $400k-600k 1,074 $532,570,000 $495,875 $5,054 4.10%
    $600k-1MM 1,027 $757,465,000 $737,551 $5,640 4.15%
    $1MM+ 122 $151,660,000 $1,243,115 $7,697 4.12%

    2022 saw Schoolsfirst place emphasis on $100,000 or less loans with 4,025 originations, totaling $236,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 4,069 $859,565,000 $211,247 $2,535 4.26%
    $150k-250k 4,036 $1,129,970,000 $279,973 $3,071 4.25%
    $75k-100k 1,904 $317,860,000 $166,943 $2,198 4.16%
    $50k-75k 1,221 $178,195,000 $145,942 $2,068 4.08%
    $250k+ 1,062 $401,030,000 $377,618 $3,976 4.10%
    $50k or less 374 $40,760,000 $108,984 $2,151 3.91%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 2,057 $493,465,000 $239,895 $2,737 4.11%
    20-30% 1,695 $371,805,000 $219,354 $2,646 3.88%
    50-60% 1,188 $224,260,000 $188,771 $1,853 4.54%
    44% 708 $179,050,000 $252,895 $2,995 4.26%
    43% 654 $163,310,000 $249,709 $2,699 4.30%
    42% 568 $148,200,000 $260,915 $3,110 4.37%
    40% 535 $139,125,000 $260,047 $2,807 4.18%
    41% 533 $138,415,000 $259,690 $2,934 4.23%
    49% 527 $108,475,000 $205,835 $2,369 4.48%
    46% 521 $109,885,000 $210,912 $2,568 4.39%
    45% 515 $114,335,000 $222,010 $2,557 4.32%
    39% 505 $126,995,000 $251,475 $2,862 4.15%
    38% 494 $121,050,000 $245,040 $2,851 4.14%
    48% 486 $113,090,000 $232,695 $2,699 4.35%
    47% 471 $103,445,000 $219,628 $2,756 4.37%
    37% 437 $113,745,000 $260,286 $3,106 4.10%
    36% 418 $106,580,000 $254,976 $2,665 4.16%
    <20% 389 $66,165,000 $170,090 $2,074 3.62%
    >60% 98 $16,010,000 $163,367 $1,660 4.47%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 8,798 $1,948,050,000 $221,420 $2,509 4.19%
    Not provided 2,250 $564,870,000 $251,053 $2,968 4.25%
    Asian 1,102 $312,700,000 $283,757 $3,556 4.06%
    Black 487 $98,705,000 $202,680 $2,453 4.46%
    American Indian 110 $24,360,000 $221,455 $2,940 4.46%
    Native Hawaiian or Islander 50 $8,240,000 $164,800 $1,383 4.33%
    Other Asian 1 $255,000 $255,000 $0 1.99%
    Other Pacific Islander 1 $225,000 $225,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    92.25%

    Schoolsfirst has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.49%

    Schoolsfirst has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 12,799 $2,957,405,000 $231,065

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    12,799 $2,957,405,000 $231,065

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2,289 $475,605,000 $207,779 $2,039 4.04%
    40-60% 985 $366,365,000 $371,944 $3,399 3.59%
    60-80% 1,169 $635,665,000 $543,768 $5,205 3.91%
    80-100% 1,227 $759,845,000 $619,271 $5,734 4.46%
    Under 20% 7,129 $719,925,000 $100,985 $180 4.34%