Meriwest Mortgage Company Rates, Fees & Info

SAN JOSE, CA

LEI: 549300SKHHL7A2K8YV94

Tax ID: 47-0847332

4.9 stars - Updated: 4/5/25 - out of 5 stars, based on 9 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Meriwest Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Meriwest Mortgage Company has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Los Angeles, San Jose, Stockton, 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.)

    Meriwest Mortgage Company 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. Meriwest Mortgage Company 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.05% 4/5/25
    30 Year Conventional Refi 6.72% 4/5/25
    30 Year Cash-out Refi 6.76% 4/5/25
    15 Year Conventional Purchase 6.00% 4/5/25
    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.

    Meriwest Mortgage Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Meriwest Mortgage Company. 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

    80

    Origination Dollar Volume (All Markets)

    $58,630,000

    Awards

    MERIWEST MORTGAGE COMPANY 30 Year Conventional Loans silver MERIWEST MORTGAGE COMPANY 30 Year Conventional Loans bronze MERIWEST MORTGAGE COMPANY 30 Year Conventional Loans gold MERIWEST MORTGAGE COMPANY 30 Year Conventional Loans bronze
    Show all (4) awards

    Relative Rate

    Meriwest Mortgage Company's average 30 year fixed mortgage rate was 6.38%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.17%.

    Relative Fees (Closing Costs)

    Meriwest Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $8,963.

    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 $8,356.

    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 Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 32 $26,730,000 $835,313 $9,457 6.30%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 23 $13,725,000 $596,739 $11,855 6.85%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 15 $12,445,000 $829,667 $4,305 5.87%
    STOCKTON, CA (FHA|USDA|VA) 2 $1,560,000 $780,000 $6,410 6.13%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,030,000 $515,000 $9,166 6.19%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $900,000 $450,000 $7,927 6.44%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $745,000 $745,000 $3,580 5.63%
    SALINAS, CA (FHA|USDA|VA) 1 $705,000 $705,000 $5,900 7.50%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $575,000 $575,000 $24,419 5.25%
    MODESTO, CA (FHA|USDA|VA) 1 $215,000 $215,000 $5,463 5.88%
    Meriwest Mortgage Company's top markets include San Francisco, Los Angeles, San Jose, Stockton, 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 MERIWEST MORTGAGE COMPANY 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: 42
    First Credit Union
    Similarity Rank: 180
    SOUTHLAND CREDIT UNION
    Similarity Rank: 216
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 336
    SACRAMENTO Credit Union
    Similarity Rank: 336
    LBS FINANCIAL
    Similarity Rank: 348
    Water and Power Community Credit Union
    Similarity Rank: 352
    CERTIFIED
    Similarity Rank: 354
    Bankers Trust Company
    Similarity Rank: 380
    PIMA Federal Credit Union
    Similarity Rank: 440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $58,630,000 $732,875 $9,078 6.36%

    For 2024, Meriwest Mortgage Company's most frequently originated type of loan was Conventional, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 58 $43,050,000 $742,241 $10,560 6.52%
    Other 9 $5,255,000 $583,889 $4,929 6.15%
    Refi 8 $6,500,000 $812,500 $4,185 5.78%
    Cash Out Refi 5 $3,825,000 $765,000 $7,182 5.80%

    For 2024, Meriwest Mortgage Company's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Other, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 78 $57,950,000 $742,949 $8,963 6.38%
    10 Year 1 $105,000 $105,000 $2,720 5.50%
    15 Year 1 $575,000 $575,000 $24,419 5.25%

    For 2024, Meriwest Mortgage Company's most frequently cited loan duration was 30 Year, with 78 originations. The 2nd most popular length was 10 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 33 $26,405,000 $800,152
    $5k+ 23 $20,855,000 $906,739
    $2k-3k 8 $3,180,000 $397,500
    $<1k 7 $4,085,000 $583,571
    $3k-4k 6 $2,870,000 $478,333
    $4k-5k 3 $1,235,000 $411,667

    Meriwest Mortgage Company's average total fees were $8,963, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 34 $31,490,000 $926,176
    6-7% 34 $20,760,000 $610,588
    7-8% 12 $6,380,000 $531,667

    During 2024, Meriwest Mortgage Company's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was 5-6%, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 24 $11,790,000 $491,250 $9,641 6.50%
    $1MM+ 20 $28,540,000 $1,427,000 $11,415 6.01%
    $200k-400k 18 $5,510,000 $306,111 $6,311 6.58%
    $600k-1MM 16 $12,560,000 $785,000 $9,221 6.37%
    $100k-200k 2 $230,000 $115,000 $2,713 6.19%

    2024 saw Meriwest Mortgage Company place emphasis on $400k-600k loans with 24 originations, totaling $11,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 40 $39,250,000 $981,250 $10,393 6.18%
    $150k-250k 18 $11,190,000 $621,667 $8,740 6.51%
    $100k-150k 16 $6,700,000 $418,750 $7,139 6.54%
    $75k-100k 5 $1,385,000 $277,000 $7,245 6.85%
    $50k-75k 1 $105,000 $105,000 $2,720 5.50%

    Meriwest Mortgage Company lent most frequently to those with incomes in the $250k+ range, with 40 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 14 $11,860,000 $847,143 $8,560 6.32%
    20-30% 11 $6,665,000 $605,909 $9,326 6.56%
    43% 9 $7,515,000 $835,000 $11,160 6.51%
    <20% 9 $3,595,000 $399,444 $6,119 6.03%
    47% 7 $5,865,000 $837,857 $11,309 6.46%
    37% 4 $2,980,000 $745,000 $12,503 6.41%
    40% 4 $3,210,000 $802,500 $4,994 6.28%
    41% 4 $2,330,000 $582,500 $11,184 6.72%
    48% 4 $3,610,000 $902,500 $9,170 5.72%
    38% 3 $1,305,000 $435,000 $9,676 6.38%
    42% 2 $3,980,000 $1,990,000 $12,243 5.81%
    39% 2 $770,000 $385,000 $7,802 7.06%
    44% 2 $950,000 $475,000 $6,009 6.56%
    46% 1 $1,085,000 $1,085,000 $4,155 5.88%
    45% 1 $795,000 $795,000 $8,681 5.75%
    36% 1 $295,000 $295,000 $8,490 6.88%
    49% 1 $315,000 $315,000 $11,041 7.00%
    50-60% 1 $1,505,000 $1,505,000 $4,225 6.00%

    Meriwest Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 27 $20,885,000 $773,519 $9,929 6.40%
    White 32 $20,000,000 $625,000 $8,553 6.54%
    Asian 15 $13,535,000 $902,333 $9,152 6.02%
    Asian Indian 3 $3,325,000 $1,108,333 $7,890 5.67%
    Black 3 $885,000 $295,000 $7,830 6.50%

    Approval Rates

    Total approvals of all applications
    98.13%

    Meriwest Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    71.25%

    Meriwest Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 80 $58,630,000 $732,875

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    80 $58,630,000 $732,875

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $2,860,000 $357,500 $8,381 6.16%
    40-60% 14 $10,210,000 $729,286 $6,371 6.44%
    60-80% 23 $21,345,000 $928,043 $8,405 6.16%
    80-100% 30 $22,480,000 $749,333 $12,052 6.59%
    Under 20% 4 $900,000 $225,000 $2,830 6.03%