Mega Capital Funding Mortgage Rates, Fees & Info

CALABASAS, CA

LEI: 5493006L4FQIQFVFNS72

Tax ID: 95-4671903

4.9 stars - out of 5 stars, based on 81 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Mega Capital Funding is a small mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Mega Capital Funding 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, San Diego, San Francisco, and Houston among others. We have data for 75 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mega Capital Funding 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. Mega Capital Funding 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.

    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
    30 Year Conventional Purchase 6.42% 10/3/22
    30 Year Conventional Refi 6.30% 10/3/22
    30 Year Cash-out Refi 6.42% 10/3/22
    30 Year FHA Purchase 7.02% 10/3/22
    30 Year FHA Refi 6.78% 10/3/22
    30 Year VA Purchase 6.19% 10/3/22
    30 Year VA Refi 5.80% 10/3/22
    15 Year Conventional Purchase 5.93% 10/3/22
    15 Year Conventional Refi 6.03% 10/3/22
    15 Year Cash-out Refi 6.03% 10/3/22
    15 Year VA Refi 5.76% 10/3/22
    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.


    Originations

    6,587

    Origination Dollar Volume (All Markets)

    $2,749,785,000
    Show all (18) awards

    Relative Rate

    Mega Capital Funding 's average 30 year fixed mortgage rate was 2.91%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.24%.

    Relative Fees (Closing Costs)

    Mega Capital Funding 's average total fees/closing costs for a 30 year fixed rate mortgage were $5,537.

    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 $4,750.

    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) 3,157 $1,437,345,000 $455,288 $5,525 2.86%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 931 $341,195,000 $366,482 $5,482 2.86%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 478 $203,760,000 $426,276 $4,796 2.79%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 268 $148,830,000 $555,336 $5,431 2.81%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 496 $133,180,000 $268,508 $4,176 2.50%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 168 $81,490,000 $485,060 $3,903 2.68%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 190 $78,280,000 $412,000 $4,243 2.81%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 129 $50,965,000 $395,078 $4,869 2.84%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 109 $49,575,000 $454,817 $5,259 2.86%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 125 $43,245,000 $345,960 $4,992 2.54%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 65 $21,695,000 $333,769 $7,380 3.00%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 46 $18,830,000 $409,348 $4,832 2.80%
    STOCKTON, CA (FHA|USDA|VA) 32 $12,350,000 $385,938 $4,799 2.82%
    BAKERSFIELD, CA (FHA|USDA|VA) 42 $11,720,000 $279,048 $4,315 2.89%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 27 $9,405,000 $348,333 $6,204 2.52%
    VALLEJO, CA (FHA|USDA|VA) 18 $7,750,000 $430,556 $5,532 2.91%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 20 $7,330,000 $366,500 $3,360 2.66%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 27 $7,185,000 $266,111 $4,605 2.67%
    SALINAS, CA (FHA|USDA|VA) 18 $6,930,000 $385,000 $5,534 2.76%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 17 $6,725,000 $395,588 $4,024 2.73%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 13 $5,925,000 $455,769 $3,434 2.76%
    Outside of Metro Areas 15 $5,335,000 $355,667 $3,807 2.68%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 14 $4,890,000 $349,286 $4,622 2.75%
    VISALIA, CA (FHA|USDA|VA) 18 $4,880,000 $271,111 $4,320 2.93%
    FRESNO, CA (FHA|USDA|VA) 18 $4,770,000 $265,000 $3,698 3.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 11 $3,795,000 $345,000 $6,468 2.91%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 11 $3,505,000 $318,636 $7,672 2.91%
    GAINESVILLE, FL (FHA|USDA|VA) 14 $3,390,000 $242,143 $3,097 2.71%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 9 $2,845,000 $316,111 $6,623 2.60%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $2,675,000 $535,000 $6,870 2.90%
    MODESTO, CA (FHA|USDA|VA) 8 $2,660,000 $332,500 $4,784 2.89%
    MERCED, CA (FHA|USDA|VA) 9 $2,325,000 $258,333 $4,266 3.04%
    JACKSONVILLE, FL (FHA|USDA|VA) 6 $2,010,000 $335,000 $5,171 2.83%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $1,415,000 $283,000 $4,949 2.73%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 3 $1,415,000 $471,667 $4,130 2.67%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $15,086 2.75%
    YUBA CITY, CA (FHA|USDA|VA) 3 $1,205,000 $401,667 $7,567 2.83%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,125,000 $375,000 $7,584 3.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,075,000 $358,333 $9,091 3.38%
    MADERA, CA (FHA|USDA|VA) 3 $1,005,000 $335,000 $6,485 2.67%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $925,000 $308,333 $4,409 2.92%
    Sonora, CA (FHA|USDA|VA) 3 $905,000 $301,667 $3,155 3.04%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 3 $885,000 $295,000 $4,837 2.75%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $785,000 $785,000 $14,202 3.00%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 3 $775,000 $258,333 $4,193 2.71%
    REDDING, CA (FHA|USDA|VA) 2 $670,000 $335,000 $4,979 2.56%
    EL CENTRO, CA (FHA|USDA|VA) 3 $655,000 $218,333 $4,273 2.46%
    CHICO, CA (FHA|USDA|VA) 2 $530,000 $265,000 $4,138 3.44%
    NAPA, CA (FHA|USDA|VA) 1 $505,000 $505,000 $8,693 3.38%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $500,000 $250,000 $6,312 2.63%
    PROVO-OREM, UT (FHA|USDA|VA) 1 $485,000 $485,000 $3,604 3.38%
    OCALA, FL (FHA|USDA|VA) 2 $470,000 $235,000 $3,637 3.00%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $420,000 $210,000 $2,852 3.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,278 3.06%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $385,000 $385,000 $3,897 3.13%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $370,000 $185,000 $2,498 2.25%
    MIDLAND, TX (FHA|USDA|VA) 1 $365,000 $365,000 $6,071 2.63%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $355,000 $355,000 $10,273 2.50%
    BEND, OR (FHA|USDA|VA) 1 $295,000 $295,000 $3,518 2.88%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $295,000 $295,000 $6,146 3.25%
    BOULDER, CO (FHA|USDA|VA) 1 $265,000 $265,000 $2,476 2.25%
    VICTORIA, TX (FHA|USDA|VA) 1 $265,000 $265,000 $6,481 2.63%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $265,000 $265,000 $3,067 3.88%
    Breckenridge, CO (FHA|USDA|VA) 1 $265,000 $265,000 $1,779 3.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,390 3.25%
    GREELEY, CO (FHA|USDA|VA) 1 $245,000 $245,000 $10,314 3.13%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $235,000 $235,000 $3,163 2.63%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,142 3.00%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $215,000 $215,000 $2,714 3.13%
    WENATCHEE, WA (FHA|USDA|VA) 1 $205,000 $205,000 $3,364 2.75%
    Susanville, CA (FHA|USDA|VA) 1 $195,000 $195,000 $2,366 2.88%
    YAKIMA, WA (FHA|USDA|VA) 1 $185,000 $185,000 $8,859 3.63%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $185,000 $185,000 $7,083 3.00%
    Clearlake, CA (FHA|USDA|VA) 1 $185,000 $185,000 $5,801 2.50%
    Brenham, TX (FHA|USDA|VA) 1 $175,000 $175,000 $2,148 2.25%

    Mega Capital Funding 's top markets include Los Angeles, Riverside, San Diego, San Francisco, and Houston among others.

    Similar Lenders

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

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    SAFE 1 CREDIT UNION
    Similarity Rank: 228
    Christian Community Credit Union
    Similarity Rank: 354
    First Credit Union
    Similarity Rank: 378
    Credence Funding Corporation
    Similarity Rank: 404
    CASTPARTS EMPLOYEES
    Similarity Rank: 660
    POWER FINANCIAL
    Similarity Rank: 768
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 816

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 6,373 $2,655,105,000 $416,618 $5,036 2.82%
    FHA 122 $51,370,000 $421,066 $13,113 2.64%
    VA 92 $43,310,000 $470,761 $7,798 2.45%

    For 2021, Mega Capital Funding 's most frequently originated type of loan was Conventional, with 6,373 originations. Their 2nd most popular type was FHA, with 122 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 3,387 $1,325,775,000 $391,430 $4,235 2.70%
    Cash Out Refi 1,832 $770,160,000 $420,393 $5,359 2.95%
    Home Purchase 1,368 $653,850,000 $477,961 $7,495 2.91%

    For 2021, Mega Capital Funding 's most frequently cited loan purpose was Refi, with 3,387 originations. The 2nd most popular reason was Cash Out Refi, with 1,832 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,419 $2,390,975,000 $441,221 $5,537 2.91%
    15 Year 861 $267,255,000 $310,401 $3,791 2.29%
    10 Year 123 $30,255,000 $245,976 $3,106 2.19%
    20 Year 116 $37,260,000 $321,207 $4,305 2.72%
    Other 67 $23,395,000 $349,179 $3,642 2.81%
    30+ year 1 $645,000 $645,000 $17,989 4.25%

    For 2021, Mega Capital Funding 's most frequently cited loan duration was 30 Year, with 5,419 originations. The 2nd most popular length was 15 Year, with 861 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,180 $1,279,430,000 $402,336
    $5k+ 1,092 $608,000,000 $556,777
    $<1k 901 $305,595,000 $339,173
    $2k-3k 693 $278,655,000 $402,100
    $3k-4k 366 $136,530,000 $373,033
    $4k-5k 354 $141,170,000 $398,785

    Mega Capital Funding 's average total fees were $5,537, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,180 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 3,827 $1,610,515,000 $420,830
    <2.5% 1,464 $496,100,000 $338,866
    3-4% 1,244 $610,370,000 $490,651
    4-5% 51 $32,535,000 $637,941
    5-6% 1 $265,000 $265,000

    During 2021, Mega Capital Funding 's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3,827 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,847 $874,235,000 $307,072 $4,314 2.76%
    $400k-600k 2,468 $1,198,440,000 $485,592 $5,302 2.83%
    $600k-1MM 614 $451,270,000 $734,967 $9,276 3.10%
    $100k-200k 539 $89,825,000 $166,651 $3,496 2.62%
    $1MM+ 107 $134,965,000 $1,261,355 $13,306 3.14%
    $100,000 or less 12 $1,050,000 $87,500 $3,379 2.73%

    2021 saw Mega Capital Funding place emphasis on $200k-400k loans with 2,847 originations, totaling $874,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 2,097 $892,285,000 $425,505 $5,188 2.80%
    $75k-100k 1,321 $493,115,000 $373,289 $4,898 2.80%
    $150k-250k 1,263 $624,005,000 $494,066 $5,525 2.81%
    $50k-75k 1,109 $343,455,000 $309,698 $4,389 2.78%
    $250k+ 424 $296,900,000 $700,236 $7,945 2.90%
    $50k or less 307 $69,885,000 $227,638 $4,255 2.85%

    Mega Capital Funding lent most frequently to those with incomes in the $100k-150k range, with 2,097 originations. The second most popular income band? $75k-100k, with 1,321 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,236 $506,380,000 $409,693 $4,616 2.73%
    30-36% 1,111 $465,215,000 $418,735 $5,130 2.79%
    <20% 347 $136,035,000 $392,032 $4,965 2.77%
    44% 328 $134,840,000 $411,098 $5,396 2.93%
    49% 321 $125,755,000 $391,760 $4,951 2.84%
    43% 295 $129,855,000 $440,186 $5,564 2.90%
    42% 281 $119,185,000 $424,146 $5,287 2.82%
    41% 281 $123,145,000 $438,238 $5,180 2.86%
    48% 271 $106,635,000 $393,487 $5,412 2.82%
    46% 261 $103,325,000 $395,881 $5,029 2.77%
    45% 260 $106,730,000 $410,500 $4,918 2.81%
    47% 251 $108,105,000 $430,697 $5,566 2.85%
    39% 243 $107,265,000 $441,420 $5,457 2.86%
    40% 240 $106,750,000 $444,792 $5,368 2.88%
    38% 232 $97,250,000 $419,181 $5,245 2.85%
    36% 218 $92,940,000 $426,330 $5,430 2.82%
    37% 216 $96,570,000 $447,083 $5,730 2.85%
    50-60% 117 $49,715,000 $424,915 $8,657 2.67%
    >60% 13 $4,905,000 $377,308 $7,200 3.34%

    Mega Capital Funding lent most frequently to those with DTI ratios of 20-30%, with 1,236 originations. The next most common DTI ratio? 30-36%, with 1,111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,829 $1,227,785,000 $434,000 $5,830 2.87%
    Asian 2,673 $1,072,375,000 $401,188 $4,523 2.75%
    Not provided 915 $379,215,000 $414,443 $5,068 2.79%
    Black 126 $51,090,000 $405,476 $7,210 2.94%
    Native Hawaiian or Islander 23 $9,705,000 $421,957 $5,135 2.81%
    American Indian 13 $5,245,000 $403,462 $9,052 2.84%
    Other Asian 3 $2,015,000 $671,667 $9,972 3.21%
    Chinese 4 $1,880,000 $470,000 $3,372 3.03%
    Vietnamese 1 $475,000 $475,000 $4,508 2.00%

    Approval Rates

    Total approvals of all applications
    99.92%

    Mega Capital Funding 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
    73.68%

    Mega Capital Funding has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1495.0 1 $405,000 $405,000
    NA 6,586 $2,749,380,000 $417,458

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    6,587 $2,749,785,000 $417,456

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 875 $263,125,000 $300,714 $3,954 2.66%
    40-60% 2,070 $843,330,000 $407,406 $4,268 2.74%
    60-80% 2,603 $1,184,775,000 $455,158 $5,760 2.90%
    80-100% 935 $432,975,000 $463,075 $7,081 2.88%
    Over 100% 8 $4,390,000 $548,750 $20,956 2.61%
    Under 20% 96 $21,190,000 $220,729 $3,511 2.56%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MEGA CAPITAL FUNDING INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    MEGA CAPITAL FUNDING INC. Conventional home mortgage Trouble during payment process 3 75.0%