Mission Mortgage Rates, Fees & Info

San Diego, CA

LEI: 549300DXSALP2TGZBQ16

Tax ID: 95-2148515

5 stars - Updated: 12/16/24 - out of 5 stars, based on 36 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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 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, and San Francisco among others. We have data for 3 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 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 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.

    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% 12/16/24
    30 Year Conventional Purchase 5.74% 12/16/24
    30 Year Conventional Refi 5.78% 12/16/24
    30 Year Cash-out Refi 5.99% 12/16/24
    15 Year Conventional Purchase 6.28% 12/16/24
    15 Year Conventional Refi 5.72% 12/16/24
    15 Year Cash-out Refi 5.72% 12/16/24
    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.

    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

    1,269

    Origination Dollar Volume (All Markets)

    $345,285,000

    Awards

    MISSION 30 Year Conventional Loans gold 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 6.07%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.41%.

    Relative Fees (Closing Costs)

    Mission's average total fees/closing costs for a 30 year fixed rate mortgage were $5,945.

    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 DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1,264 $343,340,000 $271,630 $3,519 8.01%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $1,820,000 $455,000 $5,433 6.56%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,055 6.13%
    Mission's top markets include San Diego, Riverside, and San Francisco 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.

    MISSION
    Similarity Rank: 93
    CALIFORNIA CREDIT UNION
    Similarity Rank: 208
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 276
    ALTURA
    Similarity Rank: 304
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    Credit Union of Southern California
    Similarity Rank: 603
    FRONTWAVE
    Similarity Rank: 737
    San Diego Funding
    Similarity Rank: 738
    MONARCH FUNDING CORP.
    Similarity Rank: 1084

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 779 $96,585,000 $123,986 n/a 8.34%
    Conventional 490 $248,700,000 $507,551 $3,535 7.46%

    For 2023, Mission's most frequently originated type of loan was HELOC, with 779 originations. Their 2nd most popular type was Conventional, with 490 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 782 $91,010,000 $116,381 $948 8.49%
    Home Purchase 222 $180,420,000 $812,703 $6,235 6.06%
    Other 209 $22,325,000 $106,818 $957 8.54%
    Cash Out Refi 40 $32,980,000 $824,500 $2,704 6.98%
    Refi 16 $18,550,000 $1,159,375 $3,296 6.38%

    For 2023, Mission's most frequently cited loan purpose was Home Improvement, with 782 originations. The 2nd most popular reason was Home Purchase, with 222 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 746 $94,880,000 $127,185 $0 8.19%
    30 Year 237 $183,105,000 $772,595 $5,945 6.07%
    15 Year 215 $60,815,000 $282,860 $923 8.80%
    20 Year 40 $4,880,000 $122,000 $3,462 10.92%
    10 Year 31 $1,605,000 $51,774 $872 8.98%

    For 2023, Mission's most frequently cited loan duration was Other, with 746 originations. The 2nd most popular length was 30 Year, with 237 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 227 $174,945,000 $770,683
    $<1k 219 $18,675,000 $85,274
    $5k+ 7 $4,125,000 $589,286
    $2k-3k 4 $900,000 $225,000
    $3k-4k 3 $1,525,000 $508,333
    $4k-5k 1 $375,000 $375,000

    Mission's average total fees were $5,945, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 227 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 610 $84,630,000 $138,738
    Over 8% 383 $33,525,000 $87,533
    6-7% 156 $137,650,000 $882,372
    5-6% 110 $83,350,000 $757,727
    4-5% 5 $2,875,000 $575,000
    3-4% 2 $1,180,000 $590,000
    2.5-3% 2 $1,320,000 $660,000
    <2.5% 1 $755,000 $755,000

    During 2023, Mission's average interest rate for loans was 6.07%, while their most frequently originated rate bucket for loans was 7-8%, with 610 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 469 $26,785,000 $57,111 $943 8.70%
    $100k-200k 375 $46,355,000 $123,613 $1,280 8.35%
    $200k-400k 197 $51,725,000 $262,563 $3,786 7.91%
    $600k-1MM 105 $80,465,000 $766,333 $6,072 5.99%
    $1MM+ 80 $118,350,000 $1,479,375 $6,889 6.18%
    $400k-600k 43 $21,605,000 $502,442 $5,865 5.99%

    2023 saw Mission place emphasis on $100,000 or less loans with 469 originations, totaling $26,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 418 $96,590,000 $231,077 $3,758 8.07%
    $100k-150k 343 $48,805,000 $142,289 $2,205 8.26%
    $250k+ 225 $128,315,000 $570,289 $5,748 7.33%
    $75k-100k 148 $15,490,000 $104,662 $2,071 8.25%
    $50k-75k 85 $7,005,000 $82,412 $1,799 8.39%
    $50k or less 25 $1,935,000 $77,400 $1,829 8.24%

    Mission lent most frequently to those with incomes in the $150k-250k range, with 418 originations. The second most popular income band? $100k-150k, with 343 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 182 $50,240,000 $276,044 $4,054 7.91%
    20-30% 181 $42,365,000 $234,061 $4,442 7.74%
    44% 107 $25,585,000 $239,112 $3,188 8.19%
    49% 90 $10,310,000 $114,556 $1,721 8.44%
    45% 81 $13,835,000 $170,802 $2,631 8.29%
    46% 72 $14,280,000 $198,333 $2,902 8.18%
    42% 66 $18,030,000 $273,182 $3,603 7.95%
    43% 64 $19,370,000 $302,656 $3,495 7.95%
    48% 63 $8,525,000 $135,317 $2,201 8.29%
    47% 56 $11,220,000 $200,357 $3,100 8.30%
    41% 53 $15,265,000 $288,019 $3,729 8.08%
    40% 50 $14,870,000 $297,400 $3,209 7.74%
    39% 50 $15,730,000 $314,600 $3,469 8.06%
    37% 40 $16,720,000 $418,000 $4,803 7.53%
    36% 36 $6,690,000 $185,833 $1,954 8.29%
    38% 31 $10,625,000 $342,742 $4,020 8.23%
    <20% 20 $3,950,000 $197,500 $3,270 7.47%
    >60% 1 $205,000 $205,000 $0 7.99%

    Mission lent most frequently to those with DTI ratios of 30-36%, with 182 originations. The next most common DTI ratio? 20-30%, with 181 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 925 $159,895,000 $172,859 $2,600 8.20%
    Asian 147 $72,855,000 $495,612 $5,147 7.32%
    Not applicable 25 $47,145,000 $1,885,800 $0 6.32%
    Not provided 96 $41,650,000 $433,854 $5,037 7.35%
    Asian Indian 17 $14,505,000 $853,235 $5,944 6.34%
    Black 29 $3,645,000 $125,690 $1,519 9.03%
    Other Asian 5 $2,145,000 $429,000 $6,452 8.82%
    American Indian 14 $1,410,000 $100,714 $1,092 8.46%
    Filipino 4 $1,320,000 $330,000 $2,884 7.96%
    Japanese 2 $380,000 $190,000 $0 7.99%
    Native Hawaiian or Islander 5 $335,000 $67,000 $1,100 8.89%

    Approval Rates

    Total approvals of all applications
    81.74%

    Mission has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.89%

    Mission has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,269 $345,285,000 $272,092

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,269 $345,285,000 $272,092

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 118 $33,460,000 $283,559 $4,086 7.86%
    40-60% 48 $54,180,000 $1,128,750 $5,112 6.39%
    60-80% 67 $51,865,000 $774,104 $6,240 5.99%
    80-100% 129 $113,565,000 $880,349 $6,132 6.03%
    Under 20% 905 $91,835,000 $101,475 $1,015 8.54%