Best Finance Capital Mortgage Rates, Fees & Info

GARDEN GROVE, CA

LEI: 5493002UTIS7AQUDFF80

Tax ID: 46-3284608

2.1 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Best Finance Capital is a smaller mortgage company specializing in Refi and Home Purchase loans. Best Finance Capital has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Los Angeles, Riverside, Las Vegas, Seattle, and San Francisco among others. Best Finance Capital has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Best Finance Capital is typically a high fee lendor.


Originations

443

Origination Dollar Volume (All Markets)

$168,975,000

Relative Rate

Best Finance Capital 's average 30 year fixed rate mortgage of loans were 3.17%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.02%.

Relative Fees

Best Finance Capital 's average total fees for a 30 year fixed rate mortgage are $7,559.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 180 $75,170,000 $417,611 $5,813 2.98%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 74 $24,400,000 $329,730 $7,592 3.08%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 45 $13,475,000 $299,444 $6,386 3.31%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 25 $10,755,000 $430,200 $10,647 3.01%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,485,000 $498,333 $9,922 2.97%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 14 $4,110,000 $293,571 $7,595 3.21%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $3,760,000 $1,880,000 $17,019 3.56%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 9 $3,405,000 $378,333 $5,690 3.08%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $3,195,000 $456,429 $13,059 3.30%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $2,545,000 $363,571 $5,807 3.21%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 7 $1,975,000 $282,143 $3,981 2.68%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,750,000 $437,500 $5,925 3.00%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 4 $1,720,000 $430,000 $9,381 3.19%
STOCKTON, CA (FHA|USDA|VA) 4 $1,430,000 $357,500 $4,278 3.25%
Gardnerville Ranchos, NV (FHA|USDA|VA) 4 $1,370,000 $342,500 $9,940 3.22%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $1,155,000 $385,000 $11,477 3.25%
WENATCHEE, WA (FHA|USDA|VA) 3 $1,125,000 $375,000 $9,571 2.88%
FORT COLLINS, CO (FHA|USDA|VA) 3 $1,115,000 $371,667 $4,639 3.08%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $1,030,000 $515,000 $13,120 2.75%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $960,000 $240,000 $6,903 3.13%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $925,000 $308,333 $7,038 3.08%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $925,000 $185,000 $8,873 3.90%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $680,000 $340,000 $8,980 3.44%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $650,000 $325,000 $9,592 2.81%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $570,000 $285,000 $4,591 3.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $555,000 $555,000 $12,988 4.38%
RENO, NV (FHA|USDA|VA) 1 $415,000 $415,000 $13,952 2.75%
Durango, CO (FHA|USDA|VA) 1 $415,000 $415,000 $11,652 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,937 3.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $405,000 $405,000 $12,792 2.88%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $395,000 $395,000 $10,724 3.50%
CORVALLIS, OR (FHA|USDA|VA) 1 $385,000 $385,000 $11,441 2.13%
VALLEJO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $8,978 2.88%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $385,000 $385,000 $11,826 2.63%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $360,000 $180,000 $4,026 2.81%
SALINAS, CA (FHA|USDA|VA) 1 $355,000 $355,000 $9,990 2.75%
MERCED, CA (FHA|USDA|VA) 1 $345,000 $345,000 $7,648 3.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $8,136 2.38%
Shelton, WA (FHA|USDA|VA) 1 $315,000 $315,000 $9,309 2.63%
Outside of Metro Areas 1 $295,000 $295,000 $10,388 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $225,000 $225,000 $7,996 2.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $185,000 $185,000 $7,245 3.63%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $5,221 4.25%

Best Finance Capital 's top markets include Los Angeles, Riverside, Las Vegas, Seattle, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 418 $159,800,000 $382,297 $6,745 3.08%
FHA 24 $8,700,000 $362,500 $13,762 2.97%
USDA 1 $475,000 $475,000 $0 4.25%

For the 2021 period, Best Finance Capital 's most frequently originated loan type of loans were Conventional, with 418 originations. Their 2nd most popular type is FHA, with 24 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 288 $105,240,000 $365,417 $6,801 2.97%
Home Purchase 81 $36,525,000 $450,926 $8,038 3.28%
Cash Out Refi 74 $27,210,000 $367,703 $7,276 3.25%

For the 2021, Best Finance Capital 's most frequently cited loan purpose of loans were Refi, with 288 originations. The 2nd most popular reason of loans were Home Purchase, with 81 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 370 $146,610,000 $396,243 $7,559 3.17%
15 Year 46 $13,940,000 $303,043 $4,496 2.49%
20 Year 18 $5,650,000 $313,889 $5,068 2.76%
Other 5 $1,855,000 $371,000 $6,777 3.08%
10 Year 4 $920,000 $230,000 $5,574 2.50%

For the 2021, Best Finance Capital 's most frequently cited loan length of loans were 30 Year, with 370 originations. The 2nd most popular length of loans were 15 Year, with 46 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 194 $70,410,000 $362,938
$5k+ 176 $73,950,000 $420,170
$3k-4k 40 $12,770,000 $319,250
$2k-3k 29 $10,745,000 $370,517
$<1k 1 $235,000 $235,000

$7,559 of loans were Best Finance Capital 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 194 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 197 $74,545,000 $378,401
3-4% 174 $70,710,000 $406,379
<2.5% 56 $18,070,000 $322,679
4-5% 15 $5,125,000 $341,667
5-6% 1 $525,000 $525,000

During 2021, Best Finance Capital 's average interest rate of loans were 3.17%, while their most frequently originated rate bucket of loans were 2.5-3%, with 197 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 230 $70,760,000 $307,652 $6,697 3.05%
$400k-600k 149 $70,935,000 $476,074 $7,772 3.06%
$100k-200k 40 $6,500,000 $162,500 $4,455 3.07%
$600k-1MM 22 $15,990,000 $726,818 $10,785 3.35%
$1MM+ 2 $4,790,000 $2,395,000 $17,509 3.75%

2021 saw Best Finance Capital place emphasis on $200k-400k loans with 230 originations, totaling $70,760,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 125 $51,445,000 $411,560 $6,730 3.03%
$75k-100k 95 $34,015,000 $358,053 $7,427 3.06%
$50k-75k 87 $26,695,000 $306,839 $7,264 3.06%
$150k-250k 62 $26,660,000 $430,000 $7,035 2.97%
$50k or less 38 $9,830,000 $258,684 $5,954 3.22%
$250k+ 26 $16,230,000 $624,231 $8,118 3.37%

Best Finance Capital lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $75k-100k, with 95 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 72 $28,730,000 $399,028 $7,253 3.03%
20-30% 55 $18,705,000 $340,091 $6,730 2.96%
47% 28 $11,420,000 $407,857 $6,395 3.01%
<20% 27 $12,075,000 $447,222 $7,988 3.21%
48% 24 $9,220,000 $384,167 $7,545 3.12%
43% 24 $9,430,000 $392,917 $6,284 3.03%
42% 22 $8,900,000 $404,545 $7,626 3.16%
40% 20 $7,820,000 $391,000 $7,240 3.11%
46% 20 $6,630,000 $331,500 $6,116 3.17%
36% 19 $6,685,000 $351,842 $7,178 2.93%
49% 19 $6,645,000 $349,737 $7,074 3.09%
38% 18 $7,680,000 $426,667 $8,066 3.24%
44% 18 $7,200,000 $400,000 $8,115 3.12%
41% 17 $6,215,000 $365,588 $6,093 3.12%
37% 17 $5,865,000 $345,000 $6,262 3.01%
45% 15 $6,105,000 $407,000 $6,303 3.14%
39% 15 $4,835,000 $322,333 $5,453 3.09%
50-60% 8 $2,710,000 $338,750 $13,373 2.91%
>60% 5 $2,105,000 $421,000 $8,267 3.45%

Best Finance Capital lent most frequently to those with DTI ratios of 30-36%, with 72 originations. The next most common DTI ratio? 20-30%, with 55 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 199 $79,205,000 $398,015 $5,072 3.05%
White 202 $73,520,000 $363,960 $8,605 3.10%
Not provided 31 $11,935,000 $385,000 $10,209 3.04%
Black 8 $3,090,000 $386,250 $6,858 3.17%
Vietnamese 1 $545,000 $545,000 $3,917 3.38%
Native Hawaiian 1 $345,000 $345,000 $7,908 3.00%
American Indian 1 $335,000 $335,000 $7,171 3.25%

Approval Rates

Total approvals of all applications
96.50%

Best Finance Capital has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
43.18%

Best Finance Capital has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 443 $168,975,000 $381,433

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
443 $168,975,000 $381,433

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 48 $12,610,000 $262,708 $5,195 2.88%
40-60% 144 $51,940,000 $360,694 $6,396 2.92%
60-80% 197 $82,895,000 $420,787 $7,630 3.22%
80-100% 52 $21,070,000 $405,192 $8,785 3.13%
Under 20% 2 $460,000 $230,000 $7,161 2.63%