Pacwest Funding Mortgage Rates, Fees & Info
Eugene, ORLEI: 549300KBCEYCLANGUM06
Tax ID: 91-1842269
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Mortgage Data
Review & Overview
Pacwest Funding is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Pacwest Funding has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Eugene, Salem, Albany, and Roseburg among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Pacwest Funding 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.
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Originations
135Origination Dollar Volume (All Markets)
$42,445,000Top 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 |
|---|---|---|---|---|---|
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 17 | $17,715,000 | $1,042,059 | $0 | 11.64% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 31 | $6,195,000 | $199,839 | $0 | 12.28% |
| SALEM, OR (FHA|USDA|VA) | 14 | $5,820,000 | $415,714 | $0 | 11.99% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 26 | $5,100,000 | $196,154 | $0 | 11.87% |
| Roseburg, OR (FHA|USDA|VA) | 23 | $2,595,000 | $112,826 | $0 | 11.79% |
| Newport, OR (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $0 | 11.82% |
| CORVALLIS, OR (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $0 | 11.99% |
| Coos Bay, OR (FHA|USDA|VA) | 6 | $700,000 | $116,667 | $0 | 12.32% |
| Outside of Metro Areas | 2 | $450,000 | $225,000 | $0 | 11.74% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 8.00% |
| GRANTS PASS, OR (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 10.99% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 9.99% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 11.74% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 11.99% |
| BEND, OR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 11.99% |
| Astoria, OR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.99% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 11.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 135 | $42,445,000 | $314,407 | $0 | 11.89% |
For 2020, Pacwest Funding's most frequently originated type of loan was Conventional, with 135 originations.
Loan Reason
For 2020, Pacwest Funding's most frequently cited loan purpose was Home Purchase, with 104 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Loan Duration/Length
For 2020, Pacwest Funding's most frequently cited loan duration was Other, with 71 originations. The 2nd most popular length was 1 Year, with 51 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 133 | $41,785,000 | $314,173 |
| 7-8% | 2 | $660,000 | $330,000 |
During 2020, Pacwest Funding's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 133 originations.
Loan Sizing
2020 saw Pacwest Funding place emphasis on $100k-200k loans with 52 originations, totaling $7,940,000 in origination value.
Applicant Income
Pacwest Funding lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
Pacwest Funding lent most frequently to those with DTI ratios of 50-60%, with 9 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.19%
Pacwest Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.26%
Pacwest Funding has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 135 | $42,445,000 | $314,407 |