Keypoint Mortgage Rates, Fees & Info

Santa Clara, CA

LEI: 549300DT7CCDCC7O6Z60

Tax ID: 94-2600376

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Keypoint is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Keypoint has a high proportion of conventional loans. Their top markets include San Jose, San Francisco, Santa Maria, Stockton, and Los Angeles among others. Keypoint 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. Keypoint is typically an average fee lendor.


Originations

736

Origination Dollar Volume (All Markets)

$339,350,000

Awards

KEYPOINT 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Keypoint's average 30 year fixed rate mortgage of loans were 2.97%.

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

This yields a difference of -0.18%.

Relative Fees

Keypoint's average total fees for a 30 year fixed rate mortgage are $5,193.

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
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 253 $132,125,000 $522,233 $5,252 2.84%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 205 $105,065,000 $512,512 $5,271 2.92%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 123 $42,715,000 $347,276 $3,788 2.90%
STOCKTON, CA (FHA|USDA|VA) 23 $8,725,000 $379,348 $3,586 2.99%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 13 $8,135,000 $625,769 $4,890 2.93%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 16 $7,570,000 $473,125 $5,802 2.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 15 $6,695,000 $446,333 $5,341 3.11%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $3,040,000 $304,000 $4,032 2.95%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $2,655,000 $531,000 $4,577 2.98%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 8 $2,180,000 $272,500 $5,325 3.20%
VALLEJO, CA (FHA|USDA|VA) 4 $1,700,000 $425,000 $4,059 3.09%
MERCED, CA (FHA|USDA|VA) 4 $1,280,000 $320,000 $4,133 3.18%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $1,275,000 $425,000 $5,905 3.26%
RENO, NV (FHA|USDA|VA) 3 $1,225,000 $408,333 $5,498 2.75%
SALINAS, CA (FHA|USDA|VA) 3 $1,025,000 $341,667 $5,613 2.83%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $1,020,000 $510,000 $3,321 3.06%
Outside of Metro Areas 4 $940,000 $235,000 $2,647 2.88%
MODESTO, CA (FHA|USDA|VA) 4 $930,000 $232,500 $3,149 2.81%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $835,000 $278,333 $3,298 2.88%
FRESNO, CA (FHA|USDA|VA) 2 $690,000 $345,000 $3,340 2.95%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $680,000 $340,000 $4,104 2.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $670,000 $335,000 $3,189 3.13%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $645,000 $645,000 $7,180 3.25%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $605,000 $605,000 $5,744 3.13%
BEND, OR (FHA|USDA|VA) 2 $600,000 $300,000 $5,777 3.25%
URBAN HONOLULU, HI (FHA|USDA|VA) 1 $575,000 $575,000 $3,717 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $495,000 $495,000 $6,401 3.13%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $410,000 $205,000 $3,090 3.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $385,000 $385,000 $2,402 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,747 3.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,913 3.63%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $345,000 $345,000 $3,507 3.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $285,000 $285,000 $3,857 3.15%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $5,851 2.90%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,630 2.99%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $285,000 $285,000 $3,027 3.38%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $265,000 $265,000 $3,313 3.38%
Sonora, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,363 3.00%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $235,000 $235,000 $3,594 3.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $225,000 $225,000 $5,041 3.63%
Burley, ID (FHA|USDA|VA) 1 $205,000 $205,000 $5,699 2.88%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $205,000 $205,000 $4,347 2.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,938 2.15%
MADERA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.75%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,451 3.24%
BATON ROUGE, LA (FHA|USDA|VA) 1 $155,000 $155,000 $3,714 3.63%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.75%
CORVALLIS, OR (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $55,000 $55,000 $2,890 3.00%

Keypoint's top markets include San Jose, San Francisco, Santa Maria, Stockton, and Los Angeles among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 736 $339,350,000 $461,073 $4,883 2.91%

For the 2021 period, Keypoint's most frequently originated loan type of loans were Conventional, with 736 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 257 $149,475,000 $581,615 $4,359 2.80%
Home Improvement 196 $40,370,000 $205,969 $0 2.83%
Cash Out Refi 150 $80,930,000 $539,533 $5,071 3.04%
Home Purchase 98 $61,210,000 $624,592 $5,880 3.15%
Other 35 $7,365,000 $210,429 $0 2.93%

For the 2021, Keypoint's most frequently cited loan purpose of loans were Refi, with 257 originations. The 2nd most popular reason of loans were Home Improvement, with 196 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 622 $297,230,000 $477,862 $5,193 2.97%
15 Year 81 $29,315,000 $361,914 $3,468 2.51%
20 Year 29 $11,175,000 $385,345 $4,906 2.94%
10 Year 2 $270,000 $135,000 $4,270 2.19%
Other 2 $1,360,000 $680,000 $0 2.63%

For the 2021, Keypoint's most frequently cited loan length of loans were 30 Year, with 622 originations. The 2nd most popular length of loans were 15 Year, with 81 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 267 $149,545,000 $560,094
$<1k 79 $48,765,000 $617,278
$3k-4k 47 $24,995,000 $531,809
$2k-3k 45 $23,035,000 $511,889
$5k+ 45 $38,035,000 $845,222

$5,193 of loans were Keypoint's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 267 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 457 $196,815,000 $430,667
3-4% 181 $105,455,000 $582,624
<2.5% 92 $35,700,000 $388,043
5-6% 4 $950,000 $237,500
4-5% 2 $430,000 $215,000

During 2021, Keypoint's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were 2.5-3%, with 457 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 234 $67,010,000 $286,368 $3,828 2.87%
$400k-600k 143 $70,155,000 $490,594 $4,264 2.91%
$600k-1MM 142 $110,450,000 $777,817 $5,296 3.00%
$100k-200k 122 $16,680,000 $136,721 $3,017 2.87%
$1MM+ 58 $72,660,000 $1,252,759 $8,682 2.96%
$100,000 or less 37 $2,395,000 $64,730 $3,186 2.87%

2021 saw Keypoint place emphasis on $200k-400k loans with 234 originations, totaling $67,010,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 283 $137,445,000 $485,671 $5,244 2.91%
$250k+ 209 $121,865,000 $583,086 $5,921 2.90%
$100k-150k 137 $50,335,000 $367,409 $4,231 2.92%
$75k-100k 44 $14,180,000 $322,273 $3,323 2.90%
$50k-75k 40 $8,950,000 $223,750 $3,292 2.94%
$50k or less 17 $2,595,000 $152,647 $3,526 3.00%

Keypoint lent most frequently to those with incomes in the $150k-250k range, with 283 originations. The second most popular income band? $250k+, with 209 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 152 $70,810,000 $465,855 $5,051 2.89%
30-36% 133 $66,865,000 $502,744 $5,372 2.89%
<20% 54 $21,510,000 $398,333 $4,140 2.73%
43% 36 $17,540,000 $487,222 $5,213 3.04%
41% 31 $13,655,000 $440,484 $4,544 2.94%
38% 29 $13,865,000 $478,103 $4,241 3.11%
37% 28 $11,840,000 $422,857 $6,088 2.95%
47% 27 $10,925,000 $404,630 $3,832 2.87%
42% 25 $8,235,000 $329,400 $3,829 2.86%
39% 23 $12,155,000 $528,478 $9,085 2.87%
36% 21 $9,985,000 $475,476 $5,469 3.04%
44% 20 $10,210,000 $510,500 $5,156 2.88%
45% 18 $8,280,000 $460,000 $4,620 2.96%
46% 16 $8,540,000 $533,750 $5,310 2.89%
48% 15 $9,535,000 $635,667 $4,743 3.16%
49% 12 $6,820,000 $568,333 $5,120 3.00%
50-60% 10 $4,870,000 $487,000 $4,903 3.07%
40% 8 $3,890,000 $486,250 $4,452 2.94%

Keypoint lent most frequently to those with DTI ratios of 20-30%, with 152 originations. The next most common DTI ratio? 30-36%, with 133 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 347 $144,915,000 $417,622 $5,202 2.89%
Asian 215 $113,075,000 $525,930 $4,756 2.90%
Not provided 132 $62,860,000 $476,212 $4,438 2.96%
Asian Indian 15 $7,425,000 $495,000 $4,231 2.91%
Black 12 $6,200,000 $516,667 $5,569 3.00%
Korean 1 $1,115,000 $1,115,000 $9,295 3.00%
Native Hawaiian 2 $920,000 $460,000 $4,540 2.69%
Filipino 2 $800,000 $400,000 $3,394 2.94%
Chinese 2 $680,000 $340,000 $8,809 3.19%
Other Asian 2 $570,000 $285,000 $3,060 2.81%
American Indian 4 $480,000 $120,000 $3,071 3.19%
Not applicable 1 $205,000 $205,000 $0 3.00%
Vietnamese 1 $105,000 $105,000 $0 2.75%

Approval Rates

Total approvals of all applications
93.03%

Keypoint has an average approval rate.

Pick Rate

Approvals leading to origination
79.18%

Keypoint has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 736 $339,350,000 $461,073

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
736 $339,350,000 $461,073

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 135 $58,285,000 $431,741 $3,810 2.85%
40-60% 127 $83,055,000 $653,976 $4,981 2.94%
60-80% 133 $98,505,000 $740,639 $6,083 3.04%
80-100% 43 $28,495,000 $662,674 $5,809 3.12%
Under 20% 220 $41,190,000 $187,227 $3,305 2.83%