Frontwave Mortgage Rates, Fees & Info

Oceanside, CA

LEI: 549300PEQH6YK4DH0490

Tax ID: 95-1820763

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Frontwave is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Frontwave has a high proportion of conventional loans. Frontwave has a low ratio of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Los Angeles, Oxnard, and San Francisco among others. We have data for 8 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 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) 5.66% 4/22/24
    30 Year Conventional Purchase 5.81% 4/22/24
    30 Year Conventional Refi 5.53% 4/22/24
    30 Year Cash-out Refi 5.73% 4/22/24
    30 Year VA Purchase 5.60% 4/22/24
    30 Year VA Refi 6.27% 4/22/24
    15 Year Conventional Purchase 5.68% 4/22/24
    15 Year Conventional Refi 5.68% 4/22/24
    15 Year Cash-out Refi 5.68% 4/22/24
    15 Year VA Refi 5.20% 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.

    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

    234

    Origination Dollar Volume (All Markets)

    $80,710,000
    Show all (9) 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) 117 $48,485,000 $414,402 $3,860 3.73%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 105 $25,785,000 $245,571 $3,665 3.72%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 6 $3,890,000 $648,333 $4,942 3.38%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $700,000 $350,000 $2,087 4.25%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $685,000 $685,000 $3,450 3.13%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $615,000 $615,000 $1,012 3.63%
    Outside of Metro Areas 1 $295,000 $295,000 $3,314 3.50%
    VISALIA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $8,495 3.13%
    Frontwave's top markets include San Diego, Riverside, Los Angeles, Oxnard, 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.

    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 173 $57,615,000 $333,035 $3,053 3.85%
    VA 59 $23,015,000 $390,085 $5,945 3.34%
    Conventional 2 $80,000 $40,000 $0 0.00%

    For 2019, Frontwave's most frequently originated type of loan was Conventional, with 173 originations. Their 2nd most popular type was VA, with 59 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 107 $38,015,000 $355,280 $3,552 3.59%
    Home Purchase 61 $22,935,000 $375,984 $4,962 3.71%
    Refi 32 $11,730,000 $366,563 $4,154 3.50%
    Other 24 $5,310,000 $221,250 $2,109 4.16%
    Home Improvement 10 $2,720,000 $272,000 $1,652 4.85%

    For 2019, Frontwave's most frequently cited loan purpose was Cash Out Refi, with 107 originations. The 2nd most popular reason was Home Purchase, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 176 $69,880,000 $397,045 $4,131 3.64%
    15 Year 31 $5,705,000 $184,032 $2,815 3.80%
    20 Year 17 $4,295,000 $252,647 $3,296 3.85%
    10 Year 4 $330,000 $82,500 $1,312 4.38%
    5 Year 3 $285,000 $95,000 $101 5.58%
    Other 3 $215,000 $71,667 $3,062 4.00%

    For 2019, Frontwave's most frequently cited loan duration was 30 Year, with 176 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 179 $60,665,000 $338,911
    $1k-2k 24 $6,580,000 $274,167
    $3k-4k 10 $4,970,000 $497,000
    $5k+ 8 $3,490,000 $436,250
    $2k-3k 7 $2,795,000 $399,286
    $4k-5k 4 $2,130,000 $532,500

    Frontwave's average total fees were $4,131, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 176 $64,940,000 $368,977
    4-5% 32 $8,720,000 $272,500
    2.5-3% 15 $6,225,000 $415,000
    6-7% 6 $510,000 $85,000
    5-6% 2 $130,000 $65,000
    7-8% 1 $105,000 $105,000

    During 2019, Frontwave's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 3-4%, with 176 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $25,600,000 $290,909 $3,896 3.68%
    $400k-600k 59 $28,995,000 $491,441 $5,112 3.52%
    $100k-200k 39 $5,975,000 $153,205 $2,908 3.95%
    $100,000 or less 23 $1,445,000 $62,826 $1,782 4.31%
    $600k-1MM 23 $15,735,000 $684,130 $3,292 3.44%
    $1MM+ 2 $2,960,000 $1,480,000 $3,982 3.25%

    2019 saw Frontwave place emphasis on $200k-400k loans with 88 originations, totaling $25,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $28,855,000 $384,733 $3,933 3.78%
    $75k-100k 47 $14,325,000 $304,787 $4,467 3.54%
    $50k-75k 45 $9,745,000 $216,556 $4,002 3.84%
    $150k-250k 41 $20,075,000 $489,634 $3,058 3.68%
    $50k or less 20 $3,080,000 $154,000 $3,058 3.56%
    $250k+ 6 $4,630,000 $771,667 $2,507 4.13%

    Frontwave lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $75k-100k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 33 $9,345,000 $283,182 $3,394 3.76%
    20-30% 28 $9,120,000 $325,714 $3,169 3.82%
    50-60% 20 $7,730,000 $386,500 $6,008 3.64%
    <20% 15 $3,975,000 $265,000 $3,050 3.65%
    48% 15 $6,895,000 $459,667 $3,218 3.57%
    43% 14 $3,980,000 $284,286 $2,686 3.71%
    40% 13 $4,925,000 $378,846 $3,473 3.61%
    44% 13 $3,715,000 $285,769 $3,221 4.06%
    39% 11 $4,565,000 $415,000 $3,070 3.77%
    41% 11 $4,385,000 $398,636 $4,281 3.53%
    47% 10 $4,190,000 $419,000 $3,137 3.48%
    49% 9 $3,775,000 $419,444 $5,744 3.53%
    46% 8 $2,860,000 $357,500 $3,170 3.81%
    36% 8 $3,130,000 $391,250 $2,510 3.95%
    45% 7 $2,535,000 $362,143 $4,680 3.71%
    38% 6 $1,830,000 $305,000 $3,590 4.10%
    42% 5 $1,235,000 $247,000 $4,875 3.65%
    37% 4 $1,700,000 $425,000 $6,435 3.31%
    Exempt% 2 $80,000 $40,000 $0 0.00%
    >60% 2 $740,000 $370,000 $12,834 3.75%

    Frontwave lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $45,890,000 $332,536 $3,401 3.71%
    Not provided 57 $19,115,000 $335,351 $4,809 3.71%
    Asian 12 $5,640,000 $470,000 $2,949 4.24%
    Black 11 $4,525,000 $411,364 $3,776 3.39%
    Filipino 4 $1,450,000 $362,500 $2,861 3.64%
    American Indian 5 $1,325,000 $265,000 $4,301 3.98%
    Asian Indian 2 $960,000 $480,000 $4,532 3.31%
    Korean 1 $805,000 $805,000 $3,368 3.50%
    Native Hawaiian or Islander 1 $425,000 $425,000 $11,432 2.63%
    Vietnamese 1 $305,000 $305,000 $3,075 3.25%
    Guamanian 1 $155,000 $155,000 $2,766 3.75%
    Other Asian 1 $115,000 $115,000 $2,751 3.50%

    Approval Rates

    Total approvals of all applications
    82.08%

    Frontwave has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    50.85%

    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
    Exempt 2 $80,000 $40,000
    NA 232 $80,630,000 $347,543

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $1,750,000 $218,750
    Single Family (1-4 Units):Site-Built 226 $78,960,000 $349,381

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $4,315,000 $148,793 $2,546 3.98%
    40-60% 34 $9,740,000 $286,471 $3,466 3.62%
    60-80% 87 $33,455,000 $384,540 $3,609 3.64%
    80-100% 64 $28,770,000 $449,531 $4,203 3.55%
    Over 100% 8 $3,210,000 $401,250 $12,013 3.52%
    Under 20% 10 $1,140,000 $114,000 $829 5.16%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Fairway Independent Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 28.6%
    Fairway Independent Mortgage Corporation Conventional home mortgage Closing on a mortgage 4 19.0%
    Fairway Independent Mortgage Corporation Conventional home mortgage Struggling to pay mortgage 1 4.8%
    Fairway Independent Mortgage Corporation Conventional home mortgage Trouble during payment process 4 19.0%
    Fairway Independent Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 14.3%
    Fairway Independent Mortgage Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 9.5%
    Fairway Independent Mortgage Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.8%