Frontwave Mortgage Rates, Fees & Info

Oceanside, CA

LEI: 549300PEQH6YK4DH0490

Tax ID: 95-1820763

5 stars - Updated: 5/19/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Frontwave is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Frontwave has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Sacramento, Fresno, and San Francisco among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Frontwave 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. Frontwave 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 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) 5.66% 5/19/24
30 Year Conventional Purchase 5.81% 5/19/24
30 Year Conventional Refi 5.53% 5/19/24
30 Year Cash-out Refi 5.73% 5/19/24
30 Year VA Purchase 5.60% 5/19/24
30 Year VA Refi 6.27% 5/19/24
15 Year Conventional Purchase 5.68% 5/19/24
15 Year Conventional Refi 5.68% 5/19/24
15 Year Cash-out Refi 5.68% 5/19/24
15 Year VA Refi 5.20% 5/19/24
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.

Frontwave Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Frontwave. 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

363

Origination Dollar Volume (All Markets)

$64,555,000
Show all (7) awards

Relative Rate

Frontwave's average 30 year fixed mortgage rate was 5.85%.

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

This yields a difference of -0.63%.

Relative Fees (Closing Costs)

Frontwave's average total fees/closing costs for a 30 year fixed rate mortgage were $3,806.

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) 165 $38,975,000 $236,212 $1,538 7.49%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 183 $21,595,000 $118,005 $1,437 7.86%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,115,000 $371,667 $3,957 6.75%
FRESNO, CA (FHA|USDA|VA) 2 $660,000 $330,000 $3,024 5.50%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $535,000 $535,000 $4,531 6.50%
Outside of Metro Areas 1 $445,000 $445,000 $5,920 5.50%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $395,000 $131,667 $3,526 6.58%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $380,000 $190,000 $3,255 6.13%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $345,000 $345,000 $2,258 5.38%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.00%
CHICO, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
Frontwave's top markets include San Diego, Riverside, Sacramento, Fresno, 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 FRONTWAVE 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
    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
    Conventional 191 $39,665,000 $207,670 $1,354 7.29%
    HELOC 154 $16,090,000 $104,481 n/a 8.28%
    VA 18 $8,800,000 $488,889 $4,251 5.81%

    For 2023, Frontwave's most frequently originated type of loan was Conventional, with 191 originations. Their 2nd most popular type was HELOC, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 163 $14,725,000 $90,337 $196 8.08%
    Other 90 $7,840,000 $87,111 $304 8.10%
    Home Purchase 60 $35,190,000 $586,500 $4,363 5.82%
    Cash Out Refi 34 $4,380,000 $128,824 $1,508 7.33%
    Refi 16 $2,420,000 $151,250 $950 7.97%

    For 2023, Frontwave's most frequently cited loan purpose was Home Improvement, with 163 originations. The 2nd most popular reason was Other, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 154 $16,090,000 $104,481 $0 8.28%
    30 Year 78 $39,970,000 $512,436 $3,806 5.85%
    10 Year 55 $2,875,000 $52,273 $0 7.51%
    15 Year 43 $3,235,000 $75,233 $508 8.11%
    20 Year 33 $2,385,000 $72,273 $132 8.45%

    For 2023, Frontwave's most frequently cited loan duration was Other, with 154 originations. The 2nd most popular length was 30 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 193 $42,895,000 $222,254
    $1k-2k 8 $1,700,000 $212,500
    $4k-5k 5 $2,045,000 $409,000
    $5k+ 2 $1,620,000 $810,000
    $2k-3k 1 $205,000 $205,000

    Frontwave's average total fees were $3,806, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 193 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 148 $13,550,000 $91,554
    7-8% 118 $10,300,000 $87,288
    5-6% 45 $24,475,000 $543,889
    6-7% 43 $10,825,000 $251,744
    4-5% 9 $5,405,000 $600,556

    During 2023, Frontwave's average interest rate for loans was 5.85%, while their most frequently originated rate bucket for loans was Over 8%, with 148 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 183 $9,425,000 $51,503 $185 8.02%
    $100k-200k 87 $11,145,000 $128,103 $504 8.11%
    $200k-400k 47 $11,795,000 $250,957 $3,553 7.15%
    $600k-1MM 27 $20,715,000 $767,222 $4,573 5.60%
    $400k-600k 17 $8,665,000 $509,706 $3,869 5.88%
    $1MM+ 2 $2,810,000 $1,405,000 $7,480 5.38%

    2023 saw Frontwave place emphasis on $100,000 or less loans with 183 originations, totaling $9,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $15,805,000 $150,524 $1,470 7.78%
    $150k-250k 80 $20,840,000 $260,500 $2,205 7.43%
    $75k-100k 62 $7,190,000 $115,968 $1,112 7.68%
    $50k-75k 46 $3,490,000 $75,870 $648 7.79%
    $50k or less 36 $1,930,000 $53,611 $882 7.86%
    $250k+ 34 $15,300,000 $450,000 $4,033 7.17%

    Frontwave lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $150k-250k, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    49% 53 $9,345,000 $176,321 $1,728 7.91%
    30-36% 51 $7,755,000 $152,059 $1,090 7.58%
    20-30% 42 $5,110,000 $121,667 $671 7.75%
    47% 29 $4,115,000 $141,897 $1,299 7.77%
    40% 21 $7,055,000 $335,952 $3,995 7.23%
    46% 20 $2,550,000 $127,500 $1,373 7.74%
    48% 19 $3,765,000 $198,158 $1,228 7.82%
    45% 17 $1,645,000 $96,765 $474 7.75%
    42% 14 $2,390,000 $170,714 $1,472 7.62%
    44% 14 $1,240,000 $88,571 $1,098 8.21%
    39% 14 $2,000,000 $142,857 $2,215 7.91%
    41% 12 $3,270,000 $272,500 $2,309 7.33%
    43% 11 $2,955,000 $268,636 $1,467 7.03%
    50-60% 10 $5,640,000 $564,000 $4,788 5.98%
    37% 10 $1,630,000 $163,000 $2,093 7.83%
    <20% 9 $645,000 $71,667 $1,445 7.28%
    36% 8 $1,330,000 $166,250 $963 7.53%
    38% 7 $595,000 $85,000 $0 8.04%
    >60% 2 $1,520,000 $760,000 $2,344 5.38%

    Frontwave lent most frequently to those with DTI ratios of 49%, with 53 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 197 $30,045,000 $152,513 $1,426 7.72%
    Not provided 105 $20,165,000 $192,048 $1,847 7.63%
    Asian 28 $8,670,000 $309,643 $1,934 7.29%
    Asian Indian 4 $2,340,000 $585,000 $1,905 6.19%
    Black 17 $1,935,000 $113,824 $1,170 7.71%
    American Indian 8 $660,000 $82,500 $340 7.80%
    Filipino 2 $470,000 $235,000 $3,520 6.94%
    Native Hawaiian or Islander 1 $215,000 $215,000 $6,070 5.38%
    Other Pacific Islander 1 $55,000 $55,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    82.29%

    Frontwave has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.98%

    Frontwave has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 363 $64,555,000 $177,837

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    363 $64,555,000 $177,837

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $6,650,000 $151,136 $1,896 7.82%
    40-60% 16 $4,160,000 $260,000 $2,387 6.87%
    60-80% 23 $13,005,000 $565,435 $4,142 5.76%
    80-100% 33 $20,495,000 $621,061 $3,685 5.78%
    Over 100% 1 $735,000 $735,000 $27,293 5.50%
    Under 20% 246 $19,510,000 $79,309 $90 8.09%