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, Home Purchase, and Cash Out Refi loans. Mission has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Los Angeles, San Francisco, and San Luis Obispo among others. We have data for 10 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

    3,044

    Origination Dollar Volume (All Markets)

    $757,920,000
    Show all (5) 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) 3,016 $751,710,000 $249,241 $3,217 3.83%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 16 $3,110,000 $194,375 $3,428 3.82%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $1,405,000 $281,000 $4,507 3.95%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $365,000 $365,000 $4,066 4.63%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $345,000 $345,000 $3,326 3.75%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $275,000 $275,000 $4,240 4.25%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $235,000 $235,000 $4,141 4.00%
    EL CENTRO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $3,095 3.88%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $155,000 $155,000 $3,125 3.75%
    FRESNO, CA (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.00%
    Mission's top markets include San Diego, Riverside, Los Angeles, San Francisco, and San Luis Obispo 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: 147
    LBS FINANCIAL
    Similarity Rank: 630
    Los Angeles Federal Credit Union
    Similarity Rank: 774
    ALTURA
    Similarity Rank: 1008
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 1064
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1107
    THE FIRST FINANCIAL Federal Credit Union
    Similarity Rank: 1350
    MONARCH FUNDING CORP.
    Similarity Rank: 1535
    FRONTWAVE
    Similarity Rank: 1616
    ALTA VISTA CREDIT UNION
    Similarity Rank: 1779

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,668 $633,590,000 $379,850 $3,225 3.97%
    HELOC 1,376 $124,330,000 $90,356 n/a 3.66%

    For 2019, Mission's most frequently originated type of loan was Conventional, with 1,668 originations. Their 2nd most popular type was HELOC, with 1,376 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 1,622 $208,870,000 $128,773 $2,005 3.93%
    Home Purchase 435 $245,245,000 $563,782 $4,707 3.66%
    Cash Out Refi 376 $161,490,000 $429,495 $3,978 3.61%
    Home Improvement 361 $35,245,000 $97,632 $1,252 4.04%
    Refi 250 $107,070,000 $428,280 $2,998 3.48%

    For 2019, Mission's most frequently cited loan purpose was Other, with 1,622 originations. The 2nd most popular reason was Home Purchase, with 435 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,136 $98,630,000 $86,822 $6,416 3.31%
    30 Year 1,097 $490,445,000 $447,078 $4,028 3.61%
    15 Year 418 $120,380,000 $287,990 $1,371 4.64%
    20 Year 283 $41,925,000 $148,145 $3,145 5.11%
    10 Year 110 $6,540,000 $59,455 $1,013 4.99%

    For 2019, Mission's most frequently cited loan duration was Other, with 1,136 originations. The 2nd most popular length was 30 Year, with 1,097 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,216 $412,240,000 $339,013
    $1k-2k 179 $50,815,000 $283,883
    $5k+ 82 $41,550,000 $506,707
    $2k-3k 58 $20,730,000 $357,414
    $3k-4k 39 $17,695,000 $453,718
    $4k-5k 20 $8,240,000 $412,000

    Mission's average total fees were $4,028, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,216 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,196 $465,690,000 $389,373
    2.5-3% 977 $143,385,000 $146,760
    4-5% 544 $124,240,000 $228,382
    5-6% 269 $21,085,000 $78,383
    6-7% 43 $2,785,000 $64,767
    7-8% 13 $645,000 $49,615
    Over 8% 2 $90,000 $45,000

    During 2019, Mission's average interest rate for loans was 3.61%, while their most frequently originated rate bucket for loans was 3-4%, with 1,196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,160 $60,610,000 $52,250 $931 4.10%
    $200k-400k 613 $178,085,000 $290,514 $3,451 3.73%
    $100k-200k 586 $73,940,000 $126,177 $2,096 3.70%
    $400k-600k 408 $197,690,000 $484,534 $4,173 3.58%
    $600k-1MM 222 $158,520,000 $714,054 $4,911 3.48%
    $1MM+ 55 $89,075,000 $1,619,545 $7,332 3.82%

    2019 saw Mission place emphasis on $100,000 or less loans with 1,160 originations, totaling $60,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 984 $214,700,000 $218,191 $3,094 3.85%
    $150k-250k 865 $243,095,000 $281,035 $3,589 3.77%
    $75k-100k 499 $88,215,000 $176,784 $2,869 3.91%
    $50k-75k 328 $46,870,000 $142,896 $2,887 3.86%
    $250k+ 204 $76,680,000 $375,882 $4,352 3.69%
    $50k or less 113 $10,845,000 $95,973 $2,437 3.90%

    Mission lent most frequently to those with incomes in the $100k-150k range, with 984 originations. The second most popular income band? $150k-250k, with 865 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 595 $143,235,000 $240,731 $3,229 3.75%
    20-30% 538 $130,540,000 $242,639 $3,221 3.72%
    44% 208 $38,430,000 $184,760 $4,057 3.89%
    42% 171 $39,795,000 $232,719 $2,537 4.10%
    41% 159 $34,815,000 $218,962 $3,241 4.10%
    <20% 146 $29,640,000 $203,014 $2,892 3.71%
    39% 143 $39,935,000 $279,266 $3,211 3.93%
    43% 143 $30,455,000 $212,972 $3,721 3.88%
    40% 138 $31,550,000 $228,623 $2,752 3.89%
    38% 125 $29,935,000 $239,480 $3,068 3.89%
    36% 116 $31,650,000 $272,845 $3,324 3.86%
    37% 115 $31,475,000 $273,696 $3,141 3.80%
    45% 100 $13,690,000 $136,900 $2,604 3.91%
    46% 82 $17,450,000 $212,805 $3,656 3.76%
    47% 81 $13,645,000 $168,457 $5,163 3.65%
    48% 71 $13,185,000 $185,704 $3,395 3.71%
    49% 62 $10,550,000 $170,161 $3,202 3.69%
    50-60% 1 $535,000 $535,000 $2,879 2.88%
    >60% 1 $155,000 $155,000 $0 4.50%

    Mission lent most frequently to those with DTI ratios of 30-36%, with 595 originations. The next most common DTI ratio? 20-30%, with 538 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,343 $509,715,000 $217,548 $3,179 3.83%
    Asian 261 $81,915,000 $313,851 $3,436 3.66%
    Not applicable 48 $75,430,000 $1,571,458 $0 3.99%
    Not provided 263 $61,105,000 $232,338 $3,406 3.84%
    Black 49 $9,265,000 $189,082 $4,041 4.26%
    Asian Indian 17 $7,525,000 $442,647 $3,298 3.37%
    American Indian 33 $6,055,000 $183,485 $2,270 4.25%
    Filipino 13 $3,325,000 $255,769 $2,936 4.20%
    Native Hawaiian or Islander 12 $2,040,000 $170,000 $2,621 4.24%
    Other Asian 2 $780,000 $390,000 $5,738 3.62%
    Chinese 2 $470,000 $235,000 $0 4.75%
    Other Pacific Islander 1 $295,000 $295,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    84.25%

    Mission has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.88%

    Mission has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,044 $757,920,000 $248,988

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 49 $77,255,000 $1,576,633
    Single Family (1-4 Units):Manufactured 7 $1,385,000 $197,857
    Single Family (1-4 Units):Site-Built 2,988 $679,280,000 $227,336

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 328 $71,780,000 $218,841 $2,535 3.74%
    40-60% 280 $114,750,000 $409,821 $3,346 3.67%
    60-80% 463 $249,035,000 $537,873 $4,191 3.61%
    80-100% 339 $184,185,000 $543,319 $4,669 3.59%
    Under 20% 1,366 $109,660,000 $80,278 $990 3.98%