Fremont Bank Mortgage Rates, Fees & Info
Fremont, CALEI: 5493006F1N8E3EEF3W63
Tax ID: 94-1569025
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.55% | 11/17/24 |
| 30 Year Conventional Purchase | 6.12% | 11/17/24 |
| 30 Year Conventional Refi | 6.29% | 11/17/24 |
| 30 Year Cash-out Refi | 6.37% | 11/17/24 |
| 30 Year FHA Purchase | 7.31% | 11/17/24 |
| 15 Year Conventional Purchase | 5.85% | 11/17/24 |
| 15 Year Conventional Refi | 5.82% | 11/17/24 |
| 15 Year Cash-out Refi | 5.82% | 11/17/24 |
| 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
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This is not an official calculator from Fremont Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,522Origination Dollar Volume (All Markets)
$450,330,000Awards
Fremont Bank - 2023
Fremont Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
2023 saw Fremont Bank place emphasis on $200k-400k loans with 438 originations, totaling $118,010,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications80.44%
Fremont Bank has a below average approval rate.
Pick Rate
Approvals leading to origination83.18%
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 |