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 small mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Mission has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Los Angeles, Riverside, San Francisco, and Stockton among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mission has an above 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% 4/14/24
    30 Year Conventional Purchase 5.74% 4/14/24
    30 Year Conventional Refi 5.78% 4/14/24
    30 Year Cash-out Refi 5.99% 4/14/24
    15 Year Conventional Purchase 6.28% 4/14/24
    15 Year Conventional Refi 5.72% 4/14/24
    15 Year Cash-out Refi 5.72% 4/14/24
    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

    4,080

    Origination Dollar Volume (All Markets)

    $1,467,370,000

    Awards

    MISSION 30 Year Conventional Loans bronze MISSION 30 Year Conventional Loans gold
    Show all (2) 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) 4,024 $1,428,440,000 $354,980 $4,004 3.20%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 13 $26,735,000 $2,056,538 $2,861 3.08%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 31 $9,495,000 $306,290 $4,189 2.75%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $600,000 $300,000 $5,608 3.06%
    STOCKTON, CA (FHA|USDA|VA) 2 $470,000 $235,000 $3,945 2.88%
    NAPA, CA (FHA|USDA|VA) 1 $425,000 $425,000 $8,812 3.38%
    EL CENTRO, CA (FHA|USDA|VA) 2 $330,000 $165,000 $4,207 2.75%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,044 3.00%
    Red Bluff, CA (FHA|USDA|VA) 1 $215,000 $215,000 $3,369 3.00%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $3,934 2.13%
    VISALIA, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,446 2.38%
    VALLEJO, CA (FHA|USDA|VA) 1 $125,000 $125,000 $4,907 3.00%
    Mission's top markets include San Diego, Los Angeles, Riverside, San Francisco, and Stockton 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: 170
    Credence Funding Corporation
    Similarity Rank: 404
    USC Credit Union
    Similarity Rank: 880
    ALTURA
    Similarity Rank: 923
    First City Credit Union
    Similarity Rank: 924
    MYPOINT Credit Union
    Similarity Rank: 924
    Chaffey Federal Credit Union
    Similarity Rank: 966
    MONARCH FUNDING CORP.
    Similarity Rank: 1415
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1488
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 1524

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,646 $1,307,400,000 $494,104 $4,006 3.00%
    HELOC 1,434 $159,970,000 $111,555 n/a 3.54%

    For 2021, Mission's most frequently originated type of loan was Conventional, with 2,646 originations. Their 2nd most popular type was HELOC, with 1,434 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 1,044 $122,220,000 $117,069 $1,762 3.67%
    Refi 958 $419,830,000 $438,236 $3,711 2.74%
    Cash Out Refi 923 $421,435,000 $456,593 $4,046 2.96%
    Home Improvement 628 $74,910,000 $119,283 $1,136 3.64%
    Home Purchase 527 $428,975,000 $813,994 $6,219 2.92%

    For 2021, Mission's most frequently cited loan purpose was Other, with 1,044 originations. The 2nd most popular reason was Refi, with 958 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,703 $910,045,000 $534,378 $4,679 2.90%
    Other 936 $94,140,000 $100,577 $0 3.24%
    20 Year 658 $112,970,000 $171,687 $3,601 3.78%
    15 Year 655 $330,605,000 $504,740 $2,295 3.30%
    10 Year 128 $19,610,000 $153,203 $2,159 3.15%

    For 2021, Mission's most frequently cited loan duration was 30 Year, with 1,703 originations. The 2nd most popular length was Other, with 936 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,504 $649,520,000 $431,862
    $1k-2k 409 $131,245,000 $320,892
    $5k+ 208 $113,690,000 $546,587
    $2k-3k 182 $84,090,000 $462,033
    $3k-4k 111 $56,205,000 $506,351
    $4k-5k 72 $34,110,000 $473,750

    Mission's average total fees were $4,679, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,504 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,175 $798,355,000 $367,060
    3-4% 1,041 $461,295,000 $443,127
    <2.5% 496 $172,820,000 $348,427
    4-5% 312 $23,640,000 $75,769
    5-6% 47 $3,325,000 $70,745
    6-7% 6 $260,000 $43,333
    7-8% 2 $70,000 $35,000

    During 2021, Mission's average interest rate for loans was 2.90%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,100 $315,090,000 $286,445 $3,671 2.97%
    $100,000 or less 950 $53,790,000 $56,621 $1,134 3.75%
    $100k-200k 835 $109,775,000 $131,467 $2,537 3.24%
    $400k-600k 497 $241,405,000 $485,724 $4,559 2.90%
    $600k-1MM 493 $375,745,000 $762,160 $5,583 2.87%
    $1MM+ 205 $371,565,000 $1,812,512 $7,415 3.03%

    2021 saw Mission place emphasis on $200k-400k loans with 1,100 originations, totaling $315,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,220 $447,950,000 $367,172 $4,476 3.22%
    $100k-150k 1,134 $298,550,000 $263,272 $3,704 3.24%
    $75k-100k 597 $133,975,000 $224,414 $3,635 3.17%
    $50k-75k 440 $83,890,000 $190,659 $3,302 3.07%
    $250k+ 417 $249,415,000 $598,118 $5,507 3.12%
    $50k or less 151 $21,155,000 $140,099 $2,749 3.09%

    Mission lent most frequently to those with incomes in the $150k-250k range, with 1,220 originations. The second most popular income band? $100k-150k, with 1,134 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 861 $295,835,000 $343,595 $3,892 3.02%
    30-36% 779 $258,155,000 $331,393 $3,937 3.14%
    <20% 308 $92,370,000 $299,903 $3,670 2.96%
    44% 192 $50,140,000 $261,146 $3,973 3.32%
    39% 172 $62,200,000 $361,628 $4,584 3.25%
    40% 172 $61,420,000 $357,093 $4,275 3.22%
    42% 170 $47,430,000 $279,000 $3,471 3.31%
    41% 167 $51,015,000 $305,479 $4,219 3.32%
    43% 158 $49,560,000 $313,671 $4,848 3.43%
    37% 150 $47,710,000 $318,067 $4,427 3.28%
    36% 149 $49,045,000 $329,161 $3,777 3.25%
    38% 146 $50,170,000 $343,630 $4,083 3.21%
    45% 143 $32,515,000 $227,378 $4,369 3.43%
    46% 127 $27,895,000 $219,646 $3,635 3.41%
    48% 110 $23,690,000 $215,364 $4,235 3.43%
    47% 107 $21,625,000 $202,103 $3,908 3.25%
    49% 73 $20,995,000 $287,603 $4,524 3.09%
    50-60% 5 $975,000 $195,000 $2,113 3.87%

    Mission lent most frequently to those with DTI ratios of 20-30%, with 861 originations. The next most common DTI ratio? 30-36%, with 779 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,076 $889,430,000 $289,151 $3,783 3.19%
    Not applicable 83 $210,645,000 $2,537,892 $0 3.42%
    Not provided 388 $154,700,000 $398,711 $4,205 3.22%
    Asian 342 $150,140,000 $439,006 $4,929 3.10%
    Black 86 $23,000,000 $267,442 $4,613 3.32%
    Asian Indian 18 $11,890,000 $660,556 $6,526 2.78%
    American Indian 29 $8,595,000 $296,379 $5,956 3.04%
    Filipino 23 $6,905,000 $300,217 $4,315 3.25%
    Native Hawaiian or Islander 17 $4,265,000 $250,882 $4,730 3.22%
    Japanese 5 $2,295,000 $459,000 $4,345 3.25%
    Korean 1 $1,755,000 $1,755,000 $19,824 2.75%
    Other Pacific Islander 5 $1,375,000 $275,000 $6,264 3.17%
    Chinese 2 $950,000 $475,000 $4,630 2.75%
    Other Asian 3 $945,000 $315,000 $3,899 2.83%
    Vietnamese 1 $375,000 $375,000 $4,381 2.88%
    Guamanian 1 $105,000 $105,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    90.80%

    Mission has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.84%

    Mission has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,080 $1,467,370,000 $359,650

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,080 $1,467,370,000 $359,650

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 666 $177,930,000 $267,162 $3,063 2.91%
    40-60% 695 $397,825,000 $572,410 $3,914 2.84%
    60-80% 728 $485,240,000 $666,538 $5,080 2.92%
    80-100% 338 $248,390,000 $734,882 $6,162 2.87%
    Under 20% 1,652 $157,490,000 $95,333 $1,379 3.63%