Fremont Bank Mortgage Rates, Fees & Info

Fremont, CA

LEI: 5493006F1N8E3EEF3W63

Tax ID: 94-1569025

4.4 stars - Updated: 12/9/24 - out of 5 stars, based on 39 reviews

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

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Mortgage Data

Review & Overview

Fremont Bank is a smaller bank specializing in Home Improvement, Refi, and Home Purchase loans. Fremont Bank 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: San Francisco, San Jose, Los Angeles, Sacramento, and Salinas among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fremont Bank 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. Fremont Bank 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 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.

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
Home Equity Line of Credit (HELOC) 7.55% 12/9/24
30 Year Conventional Purchase 6.12% 12/9/24
30 Year Conventional Refi 6.29% 12/9/24
30 Year Cash-out Refi 6.37% 12/9/24
30 Year FHA Purchase 7.31% 12/9/24
15 Year Conventional Purchase 5.85% 12/9/24
15 Year Conventional Refi 5.82% 12/9/24
15 Year Cash-out Refi 5.82% 12/9/24
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.

Fremont Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Fremont Bank. 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

1,522

Origination Dollar Volume (All Markets)

$450,330,000
Show all (5) awards

Relative Rate

Fremont Bank's average 30 year fixed mortgage rate was 8.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 2.32%.

Relative Fees (Closing Costs)

Fremont Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,665.

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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 892 $257,570,000 $288,756 $2,043 8.79%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 163 $66,375,000 $407,209 $2,231 8.73%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 78 $28,030,000 $359,359 $7,047 9.23%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 80 $20,000,000 $250,000 $4,751 8.73%
SALINAS, CA (FHA|USDA|VA) 42 $15,410,000 $366,905 $10,791 8.44%
STOCKTON, CA (FHA|USDA|VA) 64 $11,900,000 $185,938 $2,549 8.60%
VALLEJO, CA (FHA|USDA|VA) 34 $9,990,000 $293,824 $552 8.85%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 18 $6,990,000 $388,333 $2,540 8.50%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 27 $5,115,000 $189,444 $0 9.38%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 13 $4,565,000 $351,154 $665 8.66%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 18 $4,090,000 $227,222 $628 8.71%
MODESTO, CA (FHA|USDA|VA) 24 $3,500,000 $145,833 $3,200 9.25%
FRESNO, CA (FHA|USDA|VA) 9 $3,155,000 $350,556 $754 8.79%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 7 $3,135,000 $447,857 $495 7.93%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 10 $2,040,000 $204,000 $0 8.84%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,885,000 $377,000 $0 7.85%
Outside of Metro Areas 8 $1,470,000 $183,750 $3,982 8.63%
NAPA, CA (FHA|USDA|VA) 4 $1,010,000 $252,500 $0 8.75%
Crescent City, CA (FHA|USDA|VA) 1 $775,000 $775,000 $595 7.75%
Ukiah, CA (FHA|USDA|VA) 2 $580,000 $290,000 $0 8.31%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $490,000 $122,500 $0 8.94%
Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $410,000 $205,000 $925 8.81%
Sonora, CA (FHA|USDA|VA) 3 $275,000 $91,667 $0 9.29%
MERCED, CA (FHA|USDA|VA) 4 $270,000 $67,500 $0 9.50%
CHICO, CA (FHA|USDA|VA) 2 $260,000 $130,000 $495 7.75%
Clearlake, CA (FHA|USDA|VA) 1 $235,000 $235,000 $0 8.13%
Fernley, NV (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.00%
MADERA, CA (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.63%
YUBA CITY, CA (FHA|USDA|VA) 1 $125,000 $125,000 $835 6.99%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $115,000 $115,000 $0 11.63%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.88%
REDDING, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 12.13%
VISALIA, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
Fremont Bank's top markets include San Francisco, San Jose, Los Angeles, Sacramento, and Salinas among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Fremont Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    COASTHILLS
    Similarity Rank: 45
    Los Angeles Federal Credit Union
    Similarity Rank: 72
    SYNERGY HOME MORTGAGE, LLC
    Similarity Rank: 92
    MISSION
    Similarity Rank: 93
    VENTURA COUNTY
    Similarity Rank: 96
    Valley First Credit Union
    Similarity Rank: 110
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 126
    ALTITUDE FINANCIAL CORPORATION
    Similarity Rank: 135
    Noble Federal Credit Union
    Similarity Rank: 176

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,217 $259,765,000 $213,447 n/a 9.21%
    Conventional 303 $189,705,000 $626,089 $2,539 7.13%
    FHA 2 $860,000 $430,000 $14,006 6.37%

    For 2023, Fremont Bank's most frequently originated type of loan was HELOC, with 1,217 originations. Their 2nd most popular type was Conventional, with 303 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 666 $127,430,000 $191,336 $1,254 9.33%
    Refi 357 $114,035,000 $319,426 $1,937 8.72%
    Other 249 $56,825,000 $228,213 $1,812 8.93%
    Home Purchase 156 $99,550,000 $638,141 $3,663 7.50%
    Cash Out Refi 94 $52,490,000 $558,404 $1,561 7.09%

    For 2023, Fremont Bank's most frequently cited loan purpose was Home Improvement, with 666 originations. The 2nd most popular reason was Refi, with 357 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,344 $379,660,000 $282,485 $2,665 8.80%
    Other 149 $41,125,000 $276,007 $0 9.13%
    15 Year 20 $15,440,000 $772,000 $2,068 6.61%
    10 Year 8 $13,990,000 $1,748,750 $0 6.70%
    20 Year 1 $115,000 $115,000 $3,597 6.50%

    For 2023, Fremont Bank's most frequently cited loan duration was 30 Year, with 1,344 originations. The 2nd most popular length was Other, with 149 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 177 $104,455,000 $590,141
    $5k+ 23 $18,805,000 $817,609
    $2k-3k 6 $2,530,000 $421,667
    $1k-2k 5 $2,625,000 $525,000
    $3k-4k 4 $1,110,000 $277,500
    $4k-5k 3 $2,155,000 $718,333

    Fremont Bank's average total fees were $2,665, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 177 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 1,173 $250,595,000 $213,636
    7-8% 214 $111,100,000 $519,159
    6-7% 131 $84,485,000 $644,924
    5-6% 4 $4,150,000 $1,037,500

    During 2023, Fremont Bank's average interest rate for loans was 8.80%, while their most frequently originated rate bucket for loans was Over 8%, with 1,173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 438 $118,010,000 $269,429 $1,194 8.74%
    $100k-200k 386 $51,940,000 $134,560 $997 9.09%
    $100,000 or less 314 $19,890,000 $63,344 $495 9.26%
    $400k-600k 252 $118,180,000 $468,968 $3,337 8.66%
    $600k-1MM 76 $57,870,000 $761,447 $3,383 7.29%
    $1MM+ 56 $84,440,000 $1,507,857 $4,861 7.21%

    2023 saw Fremont Bank place emphasis on $200k-400k loans with 438 originations, totaling $118,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 476 $112,240,000 $235,798 $2,361 8.94%
    $250k+ 449 $220,185,000 $490,390 $3,707 8.75%
    $100k-150k 327 $61,245,000 $187,294 $2,131 8.82%
    $75k-100k 131 $15,695,000 $119,809 $1,574 8.74%
    $50k-75k 83 $9,215,000 $111,024 $660 8.62%
    $50k or less 24 $2,130,000 $88,750 $545 8.89%

    Fremont Bank lent most frequently to those with incomes in the $150k-250k range, with 476 originations. The second most popular income band? $250k+, with 449 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    49% 247 $53,705,000 $217,429 $3,079 9.12%
    30-36% 208 $64,040,000 $307,885 $2,971 8.59%
    20-30% 152 $39,740,000 $261,447 $1,597 8.41%
    48% 118 $23,020,000 $195,085 $717 9.27%
    47% 92 $27,850,000 $302,717 $2,564 8.85%
    45% 73 $23,575,000 $322,945 $8,862 9.10%
    46% 70 $22,010,000 $314,429 $2,625 9.05%
    44% 67 $16,855,000 $251,567 $2,151 8.97%
    41% 61 $20,795,000 $340,902 $1,811 8.38%
    42% 60 $22,790,000 $379,833 $3,789 8.64%
    43% 58 $14,950,000 $257,759 $1,572 8.88%
    <20% 51 $19,865,000 $389,510 $682 8.63%
    50-60% 46 $7,330,000 $159,348 $595 9.27%
    40% 46 $15,830,000 $344,130 $2,604 8.59%
    38% 41 $12,445,000 $303,537 $4,495 8.47%
    39% 40 $14,120,000 $353,000 $3,122 8.66%
    37% 38 $13,480,000 $354,737 $2,234 8.49%
    36% 33 $9,365,000 $283,788 $5,195 8.70%
    >60% 3 $1,165,000 $388,333 $0 9.88%

    Fremont Bank lent most frequently to those with DTI ratios of 49%, with 247 originations. The next most common DTI ratio? 30-36%, with 208 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 635 $173,685,000 $273,520 $2,504 8.73%
    Not provided 471 $125,845,000 $267,187 $2,550 8.86%
    Asian 363 $119,395,000 $328,912 $2,871 8.88%
    Not applicable 16 $25,270,000 $1,579,375 $0 6.79%
    Black 26 $4,170,000 $160,385 $0 9.03%
    American Indian 7 $1,585,000 $226,429 $12,766 8.80%
    Native Hawaiian or Islander 3 $345,000 $115,000 $835 8.50%
    Other Asian 1 $35,000 $35,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    80.44%

    Fremont Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.18%

    Fremont Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,522 $450,330,000 $295,880

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,522 $450,330,000 $295,880

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 419 $146,485,000 $349,606 $1,657 8.79%
    40-60% 108 $65,620,000 $607,593 $2,259 7.99%
    60-80% 103 $82,305,000 $799,078 $3,507 7.42%
    80-100% 20 $14,060,000 $703,000 $6,149 7.01%
    Under 20% 872 $141,860,000 $162,683 $1,083 9.10%