Mission Mortgage Rates, Fees & Info

San Diego, CA

LEI: 549300DXSALP2TGZBQ16

Tax ID: 95-2148515

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Other and Home Purchase loans. Mission has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Los Angeles, San Francisco, and Bakersfield among others. We have data for 7 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% 4/22/24
    30 Year Conventional Purchase 5.74% 4/22/24
    30 Year Conventional Refi 5.78% 4/22/24
    30 Year Cash-out Refi 5.99% 4/22/24
    15 Year Conventional Purchase 6.28% 4/22/24
    15 Year Conventional Refi 5.72% 4/22/24
    15 Year Cash-out Refi 5.72% 4/22/24
    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

    2,332

    Origination Dollar Volume (All Markets)

    $565,340,000

    Awards

    MISSION 30 Year Conventional Loans bronze MISSION 30 Year Conventional Loans gold MISSION 30 Year Conventional Loans gold MISSION 30 Year Conventional Loans gold
    Show all (4) awards

    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) 2,308 $551,490,000 $238,947 $3,169 4.30%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 18 $11,830,000 $657,222 $3,844 4.49%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,080,000 $540,000 $3,335 4.76%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $435,000 $435,000 $3,773 4.63%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $265,000 $265,000 $3,641 4.50%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,670 3.25%
    VALLEJO, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.38%
    Mission's top markets include San Diego, Riverside, Los Angeles, San Francisco, and Bakersfield 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.

    MYPOINT Credit Union
    Similarity Rank: 55
    FRONTWAVE
    Similarity Rank: 176
    Cabrillo Credit Union
    Similarity Rank: 248
    American Interbanc Mortgage
    Similarity Rank: 364
    ALTA VISTA CREDIT UNION
    Similarity Rank: 612
    MONARCH FUNDING CORP.
    Similarity Rank: 705
    ORANGE COUNTY'S CREDIT UNION
    Similarity Rank: 882
    ALTURA
    Similarity Rank: 965
    THE FIRST FINANCIAL Federal Credit Union
    Similarity Rank: 984
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 1003

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,290 $108,750,000 $84,302 n/a 4.24%
    Conventional 1,042 $456,590,000 $438,186 $3,181 4.38%

    For 2018, Mission's most frequently originated type of loan was HELOC, with 1,290 originations. Their 2nd most popular type was Conventional, with 1,042 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 1,310 $176,620,000 $134,824 $2,265 4.40%
    Home Improvement 406 $37,990,000 $93,571 $1,444 4.44%
    Home Purchase 404 $212,160,000 $525,149 $4,365 3.99%
    Cash Out Refi 152 $94,890,000 $624,276 $3,349 4.03%
    Refi 60 $43,680,000 $728,000 $2,772 3.99%

    For 2018, Mission's most frequently cited loan purpose was Other, with 1,310 originations. The 2nd most popular reason was Home Improvement, with 406 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 733 $322,625,000 $440,143 $3,780 3.91%
    Other 587 $49,735,000 $84,727 $0 3.45%
    20 Year 492 $49,310,000 $100,224 $2,939 4.93%
    15 Year 461 $140,115,000 $303,937 $1,253 5.12%
    10 Year 59 $3,555,000 $60,254 $931 5.94%

    For 2018, Mission's most frequently cited loan duration was 30 Year, with 733 originations. The 2nd most popular length was Other, with 587 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 792 $287,710,000 $363,270
    $1k-2k 78 $21,030,000 $269,615
    $5k+ 32 $16,480,000 $515,000
    $3k-4k 26 $10,350,000 $398,077
    $2k-3k 15 $4,535,000 $302,333
    $4k-5k 9 $5,025,000 $558,333

    Mission's average total fees were $3,780, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 792 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 830 $254,500,000 $306,627
    3-4% 687 $232,545,000 $338,493
    2.5-3% 403 $40,635,000 $100,831
    5-6% 251 $28,665,000 $114,203
    6-7% 123 $7,435,000 $60,447
    7-8% 27 $1,195,000 $44,259
    Over 8% 11 $365,000 $33,182

    During 2018, Mission's average interest rate for loans was 3.91%, while their most frequently originated rate bucket for loans was 4-5%, with 830 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,041 $53,535,000 $51,427 $978 4.66%
    $100k-200k 445 $55,895,000 $125,607 $2,365 4.09%
    $200k-400k 382 $110,450,000 $289,136 $3,205 4.08%
    $400k-600k 255 $124,275,000 $487,353 $3,959 3.86%
    $600k-1MM 164 $117,140,000 $714,268 $4,999 3.81%
    $1MM+ 45 $104,045,000 $2,312,111 $5,467 4.33%

    2018 saw Mission place emphasis on $100,000 or less loans with 1,041 originations, totaling $53,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 773 $160,845,000 $208,079 $3,252 4.30%
    $150k-250k 613 $155,265,000 $253,287 $3,492 4.30%
    $75k-100k 394 $56,770,000 $144,086 $2,739 4.39%
    $50k-75k 279 $34,975,000 $125,358 $2,504 4.26%
    $250k+ 121 $40,655,000 $335,992 $4,639 4.11%
    $50k or less 91 $7,915,000 $86,978 $2,569 4.22%

    Mission lent most frequently to those with incomes in the $100k-150k range, with 773 originations. The second most popular income band? $150k-250k, with 613 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 464 $94,660,000 $204,009 $3,347 4.29%
    20-30% 387 $73,945,000 $191,072 $3,269 4.15%
    44% 156 $24,100,000 $154,487 $3,191 4.31%
    41% 138 $31,000,000 $224,638 $3,283 4.36%
    42% 137 $31,735,000 $231,642 $2,967 4.46%
    40% 133 $30,825,000 $231,767 $3,022 4.45%
    43% 130 $23,860,000 $183,538 $3,402 4.38%
    39% 104 $21,890,000 $210,481 $3,138 4.24%
    38% 100 $23,110,000 $231,100 $2,929 4.40%
    37% 95 $17,545,000 $184,684 $2,848 4.45%
    36% 92 $21,850,000 $237,500 $3,133 4.34%
    <20% 76 $12,610,000 $165,921 $2,884 4.16%
    45% 73 $11,595,000 $158,836 $3,065 4.46%
    46% 53 $7,825,000 $147,642 $2,963 4.34%
    47% 51 $9,965,000 $195,392 $3,278 4.01%
    48% 45 $11,245,000 $249,889 $3,939 4.22%
    49% 32 $7,930,000 $247,813 $2,915 4.06%
    50-60% 2 $320,000 $160,000 $0 5.19%
    >60% 2 $320,000 $160,000 $0 2.99%

    Mission lent most frequently to those with DTI ratios of 30-36%, with 464 originations. The next most common DTI ratio? 20-30%, with 387 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,829 $333,815,000 $182,512 $3,072 4.34%
    Not applicable 55 $107,345,000 $1,951,727 $0 4.40%
    Asian 207 $63,865,000 $308,527 $3,354 4.01%
    Not provided 119 $29,665,000 $249,286 $3,600 4.22%
    Asian Indian 23 $11,155,000 $485,000 $3,892 3.58%
    Black 44 $8,360,000 $190,000 $4,070 4.58%
    American Indian 23 $3,475,000 $151,087 $2,543 4.14%
    Other Pacific Islander 5 $1,915,000 $383,000 $5,347 4.10%
    Native Hawaiian or Islander 10 $1,420,000 $142,000 $3,272 4.23%
    Filipino 7 $1,215,000 $173,571 $2,180 4.77%
    Japanese 1 $1,155,000 $1,155,000 $6,771 4.50%
    Other Asian 4 $1,010,000 $252,500 $3,174 3.65%
    Vietnamese 2 $620,000 $310,000 $4,646 4.18%
    Chinese 3 $325,000 $108,333 $750 5.00%

    Approval Rates

    Total approvals of all applications
    83.81%

    Mission has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.11%

    Mission has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,332 $565,340,000 $242,427

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 56 $108,100,000 $1,930,357
    Single Family (1-4 Units):Manufactured 6 $1,280,000 $213,333
    Single Family (1-4 Units):Site-Built 2,270 $455,960,000 $200,863

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 249 $66,935,000 $268,815 $2,518 4.07%
    40-60% 157 $91,975,000 $585,828 $3,258 4.00%
    60-80% 300 $161,790,000 $539,300 $3,995 3.90%
    80-100% 242 $122,880,000 $507,769 $4,283 3.92%
    Over 100% 1 $505,000 $505,000 $4,336 4.38%
    Under 20% 958 $91,770,000 $95,793 $1,072 4.41%