Mission Mortgage Rates, Fees & Info

San Diego, CA

LEI: 549300DXSALP2TGZBQ16

Tax ID: 95-2148515

5 stars - Updated: 4/5/25 - out of 5 stars, based on 40 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Mission is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Mission has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Bakersfield, Los Angeles, and Eureka 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.64% 4/5/25
30 Year Conventional Purchase 5.90% 4/5/25
30 Year Conventional Refi 5.77% 4/5/25
30 Year Cash-out Refi 6.05% 4/5/25
15 Year Conventional Purchase 9.53% 4/5/25
15 Year Conventional Refi 5.96% 4/5/25
15 Year Cash-out Refi 5.96% 4/5/25
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.

Mission Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mission. 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

1,611

Origination Dollar Volume (All Markets)

$558,315,000

Awards

MISSION 30 Year Conventional Loans silver MISSION 30 Year Conventional Loans silver MISSION 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Mission's average 30 year fixed mortgage rate was 6.34%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of -0.21%.

Relative Fees (Closing Costs)

Mission's average total fees/closing costs for a 30 year fixed rate mortgage were $6,797.

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 $8,356.

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) 1,600 $554,200,000 $346,375 $5,242 7.78%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 7 $2,525,000 $360,714 $5,698 6.75%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $690,000 $345,000 $5,916 6.31%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $465,000 $465,000 $7,110 6.25%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $435,000 $435,000 $9,250 7.38%
Mission's top markets include San Diego, Riverside, Bakersfield, Los Angeles, and Eureka 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.

    CALIFORNIA CREDIT UNION
    Similarity Rank: 72
    MYPOINT Credit Union
    Similarity Rank: 81
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 184
    MISSION
    Similarity Rank: 205
    ALTURA
    Similarity Rank: 320
    F&A Federal Credit Union
    Similarity Rank: 658
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 702
    San Diego Funding
    Similarity Rank: 888

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,020 $138,170,000 $135,461 n/a 8.23%
    Conventional 591 $420,145,000 $710,905 $5,260 6.99%

    For 2024, Mission's most frequently originated type of loan was HELOC, with 1,020 originations. Their 2nd most popular type was Conventional, with 591 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 945 $126,895,000 $134,280 $1,174 8.25%
    Home Purchase 381 $347,085,000 $910,984 $7,151 6.35%
    Other 208 $24,640,000 $118,462 $1,273 8.51%
    Cash Out Refi 44 $23,200,000 $527,273 $2,659 7.55%
    Refi 33 $36,495,000 $1,105,909 $3,799 6.16%

    For 2024, Mission's most frequently cited loan purpose was Home Improvement, with 945 originations. The 2nd most popular reason was Home Purchase, with 381 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 914 $121,580,000 $133,020 $0 8.12%
    30 Year 413 $359,635,000 $870,787 $6,797 6.34%
    15 Year 155 $57,205,000 $369,065 $1,105 8.45%
    20 Year 107 $16,765,000 $156,682 $5,380 9.13%
    10 Year 22 $3,130,000 $142,273 $815 8.92%

    For 2024, Mission's most frequently cited loan duration was Other, with 914 originations. The 2nd most popular length was 30 Year, with 413 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 394 $346,170,000 $878,604
    $<1k 142 $12,770,000 $89,930
    $2k-3k 13 $5,145,000 $395,769
    $5k+ 8 $5,130,000 $641,250
    $3k-4k 4 $1,650,000 $412,500
    $4k-5k 3 $1,425,000 $475,000

    Mission's average total fees were $6,797, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 394 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 704 $99,930,000 $141,946
    Over 8% 402 $46,310,000 $115,199
    6-7% 368 $302,150,000 $821,060
    5-6% 136 $109,000,000 $801,471
    <2.5% 1 $925,000 $925,000

    During 2024, Mission's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 7-8%, with 704 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 504 $64,690,000 $128,353 $1,984 8.26%
    $100,000 or less 426 $25,400,000 $59,624 $923 8.45%
    $200k-400k 296 $78,190,000 $264,155 $4,637 7.85%
    $1MM+ 157 $230,095,000 $1,465,573 $8,121 6.32%
    $600k-1MM 157 $125,605,000 $800,032 $6,680 6.27%
    $400k-600k 71 $34,335,000 $483,592 $5,661 6.41%

    2024 saw Mission place emphasis on $100k-200k loans with 504 originations, totaling $64,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 528 $153,900,000 $291,477 $5,277 7.88%
    $100k-150k 413 $71,425,000 $172,942 $3,789 8.05%
    $250k+ 352 $256,150,000 $727,699 $7,011 7.17%
    $75k-100k 150 $17,930,000 $119,533 $3,045 8.05%
    $50k-75k 99 $9,945,000 $100,455 $2,781 7.98%
    $50k or less 47 $4,085,000 $86,915 $2,866 7.93%

    Mission lent most frequently to those with incomes in the $150k-250k range, with 528 originations. The second most popular income band? $100k-150k, with 413 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 235 $66,145,000 $281,468 $5,376 7.72%
    20-30% 156 $34,480,000 $221,026 $3,945 7.86%
    49% 124 $25,940,000 $209,194 $5,807 8.04%
    44% 121 $45,525,000 $376,240 $5,205 7.75%
    45% 111 $50,185,000 $452,117 $5,546 7.73%
    48% 106 $24,480,000 $230,943 $4,901 8.02%
    46% 103 $31,035,000 $301,311 $7,213 7.90%
    43% 85 $29,145,000 $342,882 $4,267 7.87%
    47% 84 $23,750,000 $282,738 $5,774 7.90%
    42% 81 $38,415,000 $474,259 $5,599 7.63%
    41% 80 $29,360,000 $367,000 $5,598 7.66%
    40% 65 $31,045,000 $477,615 $4,788 7.77%
    39% 61 $21,265,000 $348,607 $5,269 7.81%
    36% 53 $20,875,000 $393,868 $5,210 7.41%
    38% 49 $20,055,000 $409,286 $5,943 7.50%
    37% 46 $15,450,000 $335,870 $5,160 7.76%
    <20% 28 $6,260,000 $223,571 $4,697 7.53%
    50-60% 1 $25,000 $25,000 $750 9.00%

    Mission lent most frequently to those with DTI ratios of 30-36%, with 235 originations. The next most common DTI ratio? 20-30%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,109 $233,395,000 $210,455 $3,826 8.03%
    Asian 226 $152,430,000 $674,469 $6,820 7.04%
    Not provided 153 $92,715,000 $605,980 $6,647 7.24%
    Not applicable 19 $32,865,000 $1,729,737 $0 6.46%
    Asian Indian 25 $28,685,000 $1,147,400 $6,574 6.32%
    Black 30 $7,490,000 $249,667 $5,824 7.94%
    American Indian 26 $4,820,000 $185,385 $3,741 8.07%
    Other Asian 4 $3,170,000 $792,500 $7,342 7.12%
    Filipino 8 $890,000 $111,250 $750 8.27%
    Native Hawaiian or Islander 7 $845,000 $120,714 $0 8.21%
    Korean 2 $580,000 $290,000 $5,001 7.75%
    Other Pacific Islander 1 $255,000 $255,000 $0 9.25%
    Guamanian 1 $175,000 $175,000 $0 7.99%

    Approval Rates

    Total approvals of all applications
    83.89%

    Mission has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.15%

    Mission has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,611 $558,315,000 $346,564

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,611 $558,315,000 $346,564

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 183 $47,805,000 $261,230 $4,281 7.93%
    40-60% 64 $50,190,000 $784,219 $6,051 6.39%
    60-80% 157 $149,985,000 $955,318 $6,985 6.29%
    80-100% 191 $183,875,000 $962,696 $6,933 6.35%
    Under 20% 1,015 $116,955,000 $115,227 $1,115 8.33%