Frontwave Mortgage Rates, Fees & Info

Oceanside, CA

LEI: 549300PEQH6YK4DH0490

Tax ID: 95-1820763

5 stars - out of 5 stars, based on 24 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Frontwave is a smaller mortgage company specializing in Other and Cash Out Refi loans. Frontwave has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Los Angeles, Sacramento, and Santa Rosa among others. We have data for 10 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 an average 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) 6.85% 3/19/23
    30 Year Conventional Purchase 6.37% 3/19/23
    30 Year Conventional Refi 6.25% 3/19/23
    30 Year Cash-out Refi 6.32% 3/19/23
    30 Year VA Purchase 5.88% 3/19/23
    30 Year VA Refi 5.81% 3/19/23
    15 Year Conventional Purchase 5.91% 3/19/23
    15 Year Conventional Refi 5.83% 3/19/23
    15 Year Cash-out Refi 5.83% 3/19/23
    15 Year VA Refi 5.57% 3/19/23
    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.


    Originations

    576

    Origination Dollar Volume (All Markets)

    $174,760,000
    Show all (8) awards

    Relative Rate

    Frontwave's average 30 year fixed mortgage rate was 2.82%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.33%.

    Relative Fees (Closing Costs)

    Frontwave's average total fees/closing costs for a 30 year fixed rate mortgage were $3,588.

    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 $4,750.

    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) 309 $114,835,000 $371,634 $2,940 2.97%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 242 $49,130,000 $203,017 $2,874 3.18%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 12 $5,550,000 $462,500 $6,879 3.04%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $1,480,000 $740,000 $5,066 2.63%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,450,000 $725,000 $17,338 2.13%
    BAKERSFIELD, CA (FHA|USDA|VA) 3 $915,000 $305,000 $5,099 2.67%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $565,000 $188,333 $2,414 3.00%
    STOCKTON, CA (FHA|USDA|VA) 1 $565,000 $565,000 $6,788 2.13%
    MODESTO, CA (FHA|USDA|VA) 1 $155,000 $155,000 $1,063 2.38%
    YUBA CITY, CA (FHA|USDA|VA) 1 $115,000 $115,000 $2,964 2.38%
    Frontwave's top markets include San Diego, Riverside, Los Angeles, Sacramento, and Santa Rosa 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.

    Los Angeles Federal Credit Union
    Similarity Rank: 170
    Credence Funding Corporation
    Similarity Rank: 404
    USC Credit Union
    Similarity Rank: 880
    ALTURA
    Similarity Rank: 923
    MYPOINT Credit Union
    Similarity Rank: 924
    First City 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 365 $128,575,000 $352,260 $2,928 3.09%
    HELOC 140 $15,330,000 $109,500 n/a 3.25%
    VA 71 $30,855,000 $434,577 $3,843 2.42%

    For 2021, Frontwave's most frequently originated type of loan was Conventional, with 365 originations. Their 2nd most popular type was HELOC, with 140 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 154 $38,420,000 $249,481 $2,553 3.24%
    Cash Out Refi 143 $57,265,000 $400,455 $3,331 2.77%
    Home Improvement 110 $14,640,000 $133,091 $1,139 3.66%
    Refi 98 $33,560,000 $342,449 $2,575 2.64%
    Home Purchase 71 $30,875,000 $434,859 $5,090 2.82%

    For 2021, Frontwave's most frequently cited loan purpose was Other, with 154 originations. The 2nd most popular reason was Cash Out Refi, with 143 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 298 $133,130,000 $446,745 $3,588 2.82%
    Other 140 $15,330,000 $109,500 $0 3.25%
    15 Year 74 $17,210,000 $232,568 $2,416 2.67%
    20 Year 45 $7,655,000 $170,111 $1,869 3.96%
    10 Year 14 $1,090,000 $77,857 $699 4.39%
    5 Year 5 $345,000 $69,000 $0 4.85%

    For 2021, Frontwave's most frequently cited loan duration was 30 Year, with 298 originations. The 2nd most popular length was Other, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 337 $127,975,000 $379,748
    $1k-2k 51 $14,085,000 $276,176
    $2k-3k 18 $5,690,000 $316,111
    $5k+ 14 $6,760,000 $482,857
    $3k-4k 10 $3,180,000 $318,000
    $4k-5k 6 $1,740,000 $290,000

    Frontwave's average total fees were $3,588, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 337 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 288 $106,900,000 $371,181
    <2.5% 129 $44,375,000 $343,992
    3-4% 111 $20,395,000 $183,739
    5-6% 24 $1,580,000 $65,833
    4-5% 20 $1,240,000 $62,000
    6-7% 3 $225,000 $75,000
    7-8% 1 $45,000 $45,000

    During 2021, Frontwave's average interest rate for loans was 2.82%, while their most frequently originated rate bucket for loans was 2.5-3%, with 288 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 151 $42,345,000 $280,430 $3,030 2.79%
    $100k-200k 139 $19,435,000 $139,820 $2,525 3.03%
    $100,000 or less 120 $6,800,000 $56,667 $1,062 3.79%
    $400k-600k 92 $45,600,000 $495,652 $4,440 2.77%
    $600k-1MM 64 $48,750,000 $761,719 $3,601 2.74%
    $1MM+ 10 $11,830,000 $1,183,000 $3,595 2.88%

    2021 saw Frontwave place emphasis on $200k-400k loans with 151 originations, totaling $42,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 172 $49,030,000 $285,058 $3,360 3.11%
    $150k-250k 123 $51,335,000 $417,358 $3,353 3.13%
    $50k-75k 105 $20,155,000 $191,952 $3,059 3.03%
    $75k-100k 88 $21,410,000 $243,295 $2,941 3.04%
    $50k or less 39 $6,465,000 $165,769 $2,331 2.85%
    $250k+ 37 $22,095,000 $597,162 $3,346 2.99%

    Frontwave lent most frequently to those with incomes in the $100k-150k range, with 172 originations. The second most popular income band? $150k-250k, with 123 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 106 $33,430,000 $315,377 $2,748 3.04%
    20-30% 96 $27,820,000 $289,792 $3,051 2.99%
    42% 36 $12,890,000 $358,056 $2,807 3.03%
    <20% 31 $8,235,000 $265,645 $2,765 2.73%
    39% 26 $5,130,000 $197,308 $4,125 3.29%
    40% 25 $10,105,000 $404,200 $2,928 3.21%
    44% 24 $6,090,000 $253,750 $3,912 3.27%
    45% 23 $7,805,000 $339,348 $3,492 3.22%
    41% 23 $6,055,000 $263,261 $3,065 3.09%
    47% 21 $5,045,000 $240,238 $1,756 3.40%
    48% 20 $5,390,000 $269,500 $3,835 2.91%
    38% 20 $6,290,000 $314,500 $2,987 2.89%
    36% 20 $4,900,000 $245,000 $3,337 3.51%
    43% 19 $6,495,000 $341,842 $3,345 2.89%
    37% 17 $6,905,000 $406,176 $4,187 3.06%
    49% 16 $2,450,000 $153,125 $1,719 3.58%
    50-60% 14 $5,900,000 $421,429 $1,603 2.95%
    46% 11 $4,005,000 $364,091 $6,029 3.02%
    >60% 8 $3,040,000 $380,000 $2,929 2.41%

    Frontwave lent most frequently to those with DTI ratios of 30-36%, with 106 originations. The next most common DTI ratio? 20-30%, with 96 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 294 $84,150,000 $286,224 $2,900 3.10%
    Not provided 211 $62,035,000 $294,005 $3,132 3.00%
    Asian 27 $12,195,000 $451,667 $3,652 2.93%
    Black 23 $8,545,000 $371,522 $4,484 2.88%
    Other Asian 3 $1,625,000 $541,667 $2,526 3.25%
    American Indian 7 $1,365,000 $195,000 $1,267 3.64%
    Vietnamese 3 $1,315,000 $438,333 $2,752 2.67%
    Native Hawaiian or Islander 4 $1,280,000 $320,000 $2,614 3.00%
    Asian Indian 2 $1,040,000 $520,000 $3,029 2.88%
    Filipino 1 $645,000 $645,000 $3,232 2.88%
    Other Pacific Islander 1 $565,000 $565,000 $1,944 2.88%

    Approval Rates

    Total approvals of all applications
    84.62%

    Frontwave has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.58%

    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 576 $174,760,000 $303,403

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    576 $174,760,000 $303,403

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 103 $18,875,000 $183,252 $2,368 2.97%
    40-60% 124 $42,300,000 $341,129 $2,894 2.79%
    60-80% 121 $60,095,000 $496,653 $3,755 2.82%
    80-100% 61 $33,825,000 $554,508 $3,981 2.70%
    Over 100% 6 $3,440,000 $573,333 $14,216 2.71%
    Under 20% 147 $11,785,000 $80,170 $390 3.73%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Fairway Independent Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 11 22.9%
    Fairway Independent Mortgage Corporation Conventional home mortgage Closing on a mortgage 3 6.3%
    Fairway Independent Mortgage Corporation Conventional home mortgage Struggling to pay mortgage 3 6.3%
    Fairway Independent Mortgage Corporation Conventional home mortgage Trouble during payment process 11 22.9%
    Fairway Independent Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 4.2%
    Fairway Independent Mortgage Corporation FHA mortgage Closing on a mortgage 3 6.3%
    Fairway Independent Mortgage Corporation FHA mortgage Struggling to pay mortgage 1 2.1%
    Fairway Independent Mortgage Corporation FHA mortgage Trouble during payment process 2 4.2%
    Fairway Independent Mortgage Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.1%
    Fairway Independent Mortgage Corporation Other type of mortgage Closing on a mortgage 3 6.3%
    Fairway Independent Mortgage Corporation Other type of mortgage Struggling to pay mortgage 1 2.1%
    Fairway Independent Mortgage Corporation Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.1%
    Fairway Independent Mortgage Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 4.2%
    Fairway Independent Mortgage Corporation VA mortgage Closing on a mortgage 1 2.1%
    Fairway Independent Mortgage Corporation VA mortgage Trouble during payment process 3 6.3%