South Pacific Financial Corporation Mortgage Rates, Fees & Info

Ontario, CA

LEI: 549300UI36AJZ0WZ4U93

Tax ID: 95-3821253

2.6 stars - out of 5 stars, based on 97 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    South Pacific Financial Corporation is a mid-sized mortgage company specializing in loans. South Pacific Financial Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Phoenix, Austin, Houston, Orlando, and Sacramento among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

    South Pacific Financial Corporation 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. South Pacific Financial Corporation is typically a high 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 6.82% 11/26/22
    30 Year Conventional Refi 6.69% 11/26/22
    30 Year Cash-out Refi 7.13% 11/26/22
    30 Year FHA Purchase 7.41% 11/26/22
    30 Year FHA Refi 7.36% 11/26/22
    30 Year VA Purchase 6.43% 11/26/22
    30 Year VA Refi 6.78% 11/26/22
    30 Year USDA Purchase 7.01% 11/26/22
    15 Year Conventional Purchase 6.21% 11/26/22
    15 Year Conventional Refi 6.05% 11/26/22
    15 Year Cash-out Refi 6.05% 11/26/22
    15 Year FHA Purchase 6.91% 11/26/22
    15 Year VA Purchase 6.66% 11/26/22
    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

    9,464

    Origination Dollar Volume (All Markets)

    $3,769,460,000
    Show all (21) awards

    Relative Rate

    South Pacific Financial Corporation's average 30 year fixed mortgage rate was 2.99%.

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

    This yields a difference of -0.16%.

    Relative Fees (Closing Costs)

    South Pacific Financial Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $7,608.

    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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1,589 $595,255,000 $374,610 $7,715 2.99%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 815 $313,745,000 $384,963 $7,678 2.93%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 779 $285,255,000 $366,181 $8,199 2.87%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 733 $255,295,000 $348,288 $7,361 2.99%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 457 $229,965,000 $503,206 $8,108 3.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 540 $217,790,000 $403,315 $7,501 2.86%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 571 $194,795,000 $341,147 $6,696 3.03%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 462 $189,530,000 $410,238 $6,449 2.85%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 360 $168,550,000 $468,194 $7,161 2.96%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 412 $163,450,000 $396,723 $6,817 2.95%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 353 $158,435,000 $448,824 $8,911 2.93%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 370 $142,700,000 $385,676 $7,392 2.97%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 220 $136,870,000 $622,136 $9,520 3.18%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 248 $97,890,000 $394,718 $8,224 3.03%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 121 $71,745,000 $592,934 $9,606 2.95%
    RALEIGH-CARY, NC (FHA|USDA|VA) 201 $69,385,000 $345,199 $5,258 2.98%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 125 $68,875,000 $551,000 $7,830 3.02%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 168 $65,400,000 $389,286 $6,550 2.94%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 140 $51,610,000 $368,643 $6,591 3.09%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 165 $46,785,000 $283,545 $7,076 2.94%
    JACKSONVILLE, FL (FHA|USDA|VA) 120 $32,450,000 $270,417 $7,607 3.07%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 87 $27,515,000 $316,264 $4,803 2.88%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 57 $26,605,000 $466,754 $7,035 3.01%
    STOCKTON, CA (FHA|USDA|VA) 49 $22,125,000 $451,531 $8,422 2.98%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 45 $21,215,000 $471,444 $7,716 3.08%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 17 $18,475,000 $1,086,765 $9,809 2.78%
    FORT COLLINS, CO (FHA|USDA|VA) 40 $16,710,000 $417,750 $5,955 2.96%
    BOULDER, CO (FHA|USDA|VA) 33 $16,695,000 $505,909 $5,182 3.01%
    Pahrump, NV (FHA|USDA|VA) 60 $16,480,000 $274,667 $7,202 3.04%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 39 $12,995,000 $333,205 $6,938 2.91%
    NAPA, CA (FHA|USDA|VA) 22 $12,240,000 $556,364 $8,156 3.06%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 27 $7,925,000 $293,519 $6,613 2.93%
    VALLEJO, CA (FHA|USDA|VA) 14 $7,200,000 $514,286 $10,888 3.04%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 18 $5,680,000 $315,556 $7,788 2.86%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $825,000 $275,000 $6,664 2.79%
    GAINESVILLE, GA (FHA|USDA|VA) 2 $540,000 $270,000 $4,095 2.94%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $235,000 $235,000 $6,557 3.50%
    Elko, NV (FHA|USDA|VA) 1 $225,000 $225,000 $5,020 3.00%
    South Pacific Financial Corporation's top markets include Phoenix, Austin, Houston, Orlando, and Sacramento among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against South Pacific Financial Corporation 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
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    El Dorado Savings Bank, F.S.B.
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    CASTPARTS EMPLOYEES
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    HIGHLAND HOMELOANS, LLC
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    ALTURA
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 7,842 $3,135,690,000 $399,858 $6,717 3.02%
    FHA 849 $300,675,000 $354,152 $11,721 2.74%
    VA 768 $331,660,000 $431,849 $10,988 2.63%
    USDA 5 $1,435,000 $287,000 $7,821 2.85%

    For 2021, South Pacific Financial Corporation's most frequently originated type of loan was Conventional, with 7,842 originations. Their 2nd most popular type was FHA, with 849 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 9,403 $3,745,535,000 $398,334 $7,531 2.96%
    Refi 52 $20,420,000 $392,692 $4,684 2.81%
    Cash Out Refi 9 $3,505,000 $389,444 $4,852 3.24%

    For 2021, South Pacific Financial Corporation's most frequently cited loan purpose was Home Purchase, with 9,403 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 8,808 $3,554,760,000 $403,583 $7,608 2.99%
    15 Year 513 $168,515,000 $328,489 $6,268 2.52%
    20 Year 117 $39,905,000 $341,068 $6,392 2.76%
    10 Year 22 $4,630,000 $210,455 $4,568 2.53%
    Other 4 $1,650,000 $412,500 $8,055 2.69%

    For 2021, South Pacific Financial Corporation's most frequently cited loan duration was 30 Year, with 8,808 originations. The 2nd most popular length was 15 Year, with 513 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 4,398 $1,664,020,000 $378,358
    $2k-3k 2,479 $1,031,935,000 $416,271
    $5k+ 1,037 $482,935,000 $465,704
    $3k-4k 788 $326,760,000 $414,670
    $4k-5k 504 $214,000,000 $424,603
    $<1k 257 $49,535,000 $192,743

    South Pacific Financial Corporation's average total fees were $7,608, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,398 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 4,559 $1,829,185,000 $401,225
    3-4% 3,467 $1,388,175,000 $400,397
    <2.5% 1,327 $510,815,000 $384,940
    4-5% 111 $41,285,000 $371,937

    During 2021, South Pacific Financial Corporation's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 2.5-3%, with 4,559 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 4,540 $1,432,480,000 $315,524 $7,101 2.94%
    $400k-600k 3,892 $1,886,670,000 $484,756 $8,059 2.95%
    $600k-1MM 493 $339,225,000 $688,083 $9,996 3.10%
    $100k-200k 455 $71,525,000 $157,198 $4,569 3.09%
    $100,000 or less 55 $4,125,000 $75,000 $2,882 3.20%
    $1MM+ 29 $35,435,000 $1,221,897 $11,642 2.93%

    2021 saw South Pacific Financial Corporation place emphasis on $200k-400k loans with 4,540 originations, totaling $1,432,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 3,240 $1,333,480,000 $411,568 $7,583 2.95%
    $150k-250k 2,411 $1,104,865,000 $458,260 $7,610 3.00%
    $75k-100k 1,703 $593,075,000 $348,253 $7,431 2.93%
    $50k-75k 1,207 $347,795,000 $288,148 $7,355 2.91%
    $250k+ 691 $342,635,000 $495,854 $7,801 3.03%
    $50k or less 199 $42,085,000 $211,482 $6,080 3.02%

    South Pacific Financial Corporation lent most frequently to those with incomes in the $100k-150k range, with 3,240 originations. The second most popular income band? $150k-250k, with 2,411 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,958 $775,990,000 $396,318 $7,006 2.94%
    30-36% 1,867 $765,255,000 $409,885 $7,295 2.97%
    <20% 612 $215,080,000 $351,438 $6,472 2.92%
    50-60% 492 $188,900,000 $383,943 $11,486 2.75%
    42% 399 $165,495,000 $414,774 $7,204 3.01%
    39% 364 $149,930,000 $411,896 $7,182 2.99%
    43% 360 $146,640,000 $407,333 $7,757 3.02%
    41% 357 $144,825,000 $405,672 $7,415 3.01%
    40% 348 $143,560,000 $412,529 $7,334 3.01%
    37% 336 $138,240,000 $411,429 $7,436 2.96%
    44% 325 $129,285,000 $397,800 $7,430 3.01%
    36% 323 $129,535,000 $401,037 $7,212 2.97%
    45% 316 $126,450,000 $400,158 $7,638 3.00%
    38% 304 $123,740,000 $407,039 $7,287 3.02%
    47% 287 $110,105,000 $383,641 $8,057 3.00%
    49% 275 $106,475,000 $387,182 $7,905 2.96%
    46% 267 $103,835,000 $388,895 $7,961 3.00%
    48% 251 $95,115,000 $378,944 $7,800 2.98%
    >60% 23 $11,005,000 $478,478 $10,365 2.79%

    South Pacific Financial Corporation lent most frequently to those with DTI ratios of 20-30%, with 1,958 originations. The next most common DTI ratio? 30-36%, with 1,867 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,112 $1,930,220,000 $377,586 $7,240 2.97%
    Asian 2,071 $940,355,000 $454,058 $7,617 2.96%
    Not provided 1,230 $483,440,000 $393,041 $7,844 2.93%
    Black 887 $347,265,000 $391,505 $8,260 2.93%
    American Indian 67 $25,435,000 $379,627 $8,384 2.92%
    Asian Indian 28 $13,340,000 $476,429 $7,725 3.04%
    Filipino 27 $12,725,000 $471,296 $8,724 3.04%
    Native Hawaiian or Islander 21 $8,255,000 $393,095 $8,584 2.96%
    Vietnamese 7 $2,805,000 $400,714 $7,242 3.00%
    Other Asian 6 $2,570,000 $428,333 $6,085 3.23%
    Chinese 6 $2,220,000 $370,000 $8,833 3.00%
    Korean 2 $830,000 $415,000 $5,984 2.75%

    Approval Rates

    Total approvals of all applications
    97.07%

    South Pacific Financial Corporation 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
    81.40%

    South Pacific Financial Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 9,464 $3,769,460,000 $398,295

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    9,464 $3,769,460,000 $398,295

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 325 $57,745,000 $177,677 $4,682 3.01%
    40-60% 797 $239,455,000 $300,445 $6,305 2.93%
    60-80% 2,729 $1,128,085,000 $413,369 $7,206 3.01%
    80-100% 5,360 $2,249,160,000 $419,619 $7,621 2.95%
    Over 100% 200 $90,060,000 $450,300 $19,446 2.64%
    Under 20% 53 $4,955,000 $93,491 $2,911 3.13%