Mission Mortgage Rates, Fees & Info

San Diego, CA

LEI: 549300DXSALP2TGZBQ16

Tax ID: 95-2148515

5 stars - out of 5 stars, based on 57 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mission is a small mortgage company specializing in loans. Mission has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Los Angeles, Redding, and Madera among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mission 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. Mission 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 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
    Home Equity Line of Credit (HELOC) 6.27% 3/24/23
    30 Year Conventional Purchase 5.74% 3/24/23
    30 Year Conventional Refi 5.78% 3/24/23
    30 Year Cash-out Refi 5.99% 3/24/23
    15 Year Conventional Purchase 6.28% 3/24/23
    15 Year Conventional Refi 5.72% 3/24/23
    15 Year Cash-out Refi 5.72% 3/24/23
    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

    3,271

    Origination Dollar Volume (All Markets)

    $1,461,935,000

    Awards

    MISSION 30 Year Conventional Loans bronze MISSION 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Mission's average 30 year fixed mortgage rate was 3.17%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -1.59%.

    Relative Fees (Closing Costs)

    Mission's average total fees/closing costs for a 30 year fixed rate mortgage were $3,839.

    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
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3,256 $1,445,740,000 $444,023 $3,175 4.07%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 10 $12,730,000 $1,273,000 $4,578 3.67%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $3,285,000 $1,095,000 $2,480 3.86%
    REDDING, CA (FHA|USDA|VA) 1 $95,000 $95,000 $3,741 5.13%
    MADERA, CA (FHA|USDA|VA) 1 $85,000 $85,000 $2,525 3.88%
    Mission's top markets include San Diego, Riverside, Los Angeles, Redding, and Madera among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    Los Angeles Federal Credit Union
    Similarity Rank: 136
    Credence Funding Corporation
    Similarity Rank: 316
    First City Credit Union
    Similarity Rank: 616
    Chaffey Federal Credit Union
    Similarity Rank: 644
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 762
    MYPOINT Credit Union
    Similarity Rank: 770
    USC Credit Union
    Similarity Rank: 770
    MONARCH FUNDING CORP.
    Similarity Rank: 1132
    ALTURA
    Similarity Rank: 1349
    PROFESSIONAL CONSOLIDATED FINANCIAL GROUP, INC.
    Similarity Rank: 1388

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,817 $1,269,265,000 $698,550 $3,179 3.69%
    HELOC 1,454 $192,670,000 $132,510 n/a 4.53%

    For 2022, Mission's most frequently originated type of loan was Conventional, with 1,817 originations. Their 2nd most popular type was HELOC, with 1,454 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,508 $191,580,000 $127,042 $963 4.69%
    Home Purchase 920 $814,150,000 $884,946 $3,755 3.24%
    Cash Out Refi 360 $222,620,000 $618,389 $4,080 3.30%
    Other 321 $56,805,000 $176,963 $1,847 4.89%
    Refi 162 $176,780,000 $1,091,235 $3,560 3.01%

    For 2022, Mission's most frequently cited loan purpose was Home Improvement, with 1,508 originations. The 2nd most popular reason was Home Purchase, with 920 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,303 $1,045,935,000 $802,713 $3,839 3.17%
    Other 885 $110,695,000 $125,079 $0 4.35%
    20 Year 592 $92,620,000 $156,453 $3,965 4.77%
    15 Year 442 $209,540,000 $474,072 $1,119 5.09%
    10 Year 49 $3,145,000 $64,184 $973 5.10%

    For 2022, Mission's most frequently cited loan duration was 30 Year, with 1,303 originations. The 2nd most popular length was Other, with 885 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,000 $504,130,000 $504,130
    $1k-2k 600 $492,050,000 $820,083
    $5k+ 67 $53,175,000 $793,657
    $2k-3k 45 $26,365,000 $585,889
    $3k-4k 21 $12,215,000 $581,667
    $4k-5k 13 $8,795,000 $676,538

    Mission's average total fees were $3,839, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,000 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,082 $575,180,000 $531,590
    2.5-3% 847 $428,405,000 $505,791
    4-5% 481 $102,795,000 $213,711
    <2.5% 331 $271,795,000 $821,133
    5-6% 222 $42,990,000 $193,649
    7-8% 104 $12,500,000 $120,192
    Over 8% 103 $9,505,000 $92,282
    6-7% 99 $13,155,000 $132,879

    During 2022, Mission's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 1,082 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 796 $98,820,000 $124,146 $1,292 4.49%
    $100,000 or less 726 $41,510,000 $57,176 $870 5.11%
    $600k-1MM 629 $486,055,000 $772,742 $3,593 3.21%
    $200k-400k 524 $141,420,000 $269,885 $2,906 4.06%
    $1MM+ 359 $574,035,000 $1,598,983 $5,154 3.01%
    $400k-600k 237 $120,095,000 $506,730 $3,498 3.30%

    2022 saw Mission place emphasis on $100k-200k loans with 796 originations, totaling $98,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,196 $509,920,000 $426,355 $3,275 4.07%
    $100k-150k 834 $214,650,000 $257,374 $2,655 4.29%
    $250k+ 587 $471,585,000 $803,382 $3,974 3.55%
    $75k-100k 329 $58,265,000 $177,097 $2,469 4.29%
    $50k-75k 181 $26,015,000 $143,729 $2,627 4.31%
    $50k or less 70 $7,540,000 $107,714 $2,579 4.56%

    Mission lent most frequently to those with incomes in the $150k-250k range, with 1,196 originations. The second most popular income band? $100k-150k, with 834 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 603 $261,925,000 $434,370 $3,266 3.97%
    20-30% 522 $206,090,000 $394,808 $3,120 3.85%
    44% 209 $87,775,000 $419,976 $2,752 4.31%
    43% 180 $76,530,000 $425,167 $2,809 4.29%
    42% 171 $85,565,000 $500,380 $3,598 4.17%
    40% 171 $76,505,000 $447,398 $3,195 4.22%
    45% 167 $46,205,000 $276,677 $2,817 4.53%
    41% 159 $71,055,000 $446,887 $2,772 4.03%
    39% 138 $58,270,000 $422,246 $2,960 4.02%
    46% 133 $38,895,000 $292,444 $3,261 4.15%
    38% 129 $63,555,000 $492,674 $2,992 3.96%
    36% 126 $50,250,000 $398,810 $3,272 4.05%
    37% 115 $56,035,000 $487,261 $3,802 3.95%
    47% 112 $29,320,000 $261,786 $2,956 4.27%
    <20% 102 $34,270,000 $335,980 $3,673 3.73%
    48% 91 $24,695,000 $271,374 $3,505 4.16%
    49% 79 $23,635,000 $299,177 $4,646 4.41%
    50-60% 2 $790,000 $395,000 $450 4.00%

    Mission lent most frequently to those with DTI ratios of 30-36%, with 603 originations. The next most common DTI ratio? 20-30%, with 522 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,288 $759,630,000 $332,006 $2,990 4.19%
    Asian 409 $281,865,000 $689,156 $3,229 3.56%
    Not provided 309 $165,125,000 $534,385 $4,349 3.97%
    Not applicable 56 $159,200,000 $2,842,857 $0 3.52%
    Asian Indian 62 $48,340,000 $779,677 $3,603 3.16%
    Black 58 $18,650,000 $321,552 $2,337 4.43%
    American Indian 32 $9,910,000 $309,688 $2,246 4.57%
    Other Asian 9 $7,755,000 $861,667 $1,984 3.07%
    Filipino 24 $6,300,000 $262,500 $2,446 3.99%
    Vietnamese 5 $1,685,000 $337,000 $3,148 3.95%
    Native Hawaiian 1 $885,000 $885,000 $550 3.00%
    Japanese 2 $760,000 $380,000 $3,536 3.37%
    Native Hawaiian or Islander 9 $715,000 $79,444 $750 4.41%
    Chinese 3 $625,000 $208,333 $4,870 5.83%
    Korean 2 $380,000 $190,000 $2,985 3.00%
    Other Pacific Islander 1 $65,000 $65,000 $0 7.99%
    Guamanian 1 $45,000 $45,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    88.07%

    Mission has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.73%

    Mission has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,271 $1,461,935,000 $446,938

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,271 $1,461,935,000 $446,938

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 319 $118,655,000 $371,959 $3,365 3.93%
    40-60% 231 $235,245,000 $1,018,377 $4,400 3.26%
    60-80% 391 $353,055,000 $902,954 $5,094 3.07%
    80-100% 645 $564,595,000 $875,341 $3,056 3.23%
    Under 20% 1,677 $187,895,000 $112,042 $915 4.76%