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

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

South Pacific Financial Corporation is a mid-sized mortgage company specializing in Home Purchase 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 include Phoenix, Austin, Houston, Orlando, and Sacramento among others. South Pacific Financial Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. South Pacific Financial Corporation is typically a high fee lendor.


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 rate mortgage of loans were 2.99%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.16%.

Relative Fees

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

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, South Pacific Financial Corporation's most frequently originated loan type of loans were Conventional, with 7,842 originations. Their 2nd most popular type is FHA, with 849 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, South Pacific Financial Corporation's most frequently cited loan purpose of loans were Home Purchase, with 9,403 originations. The 2nd most popular reason of loans were 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 the 2021, South Pacific Financial Corporation's most frequently cited loan length of loans were 30 Year, with 8,808 originations. The 2nd most popular length of loans were 15 Year, with 513 originations.

Origination Fees

Origination Fee 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
$3k-4k 1,292 $540,760,000 $418,545
$5k+ 1,037 $482,935,000 $465,704
$<1k 257 $49,535,000 $192,743

$7,608 of loans were South Pacific Financial Corporation's average total fees, while their most frequently occuring range of origination fees 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 of loans were 2.99%, while their most frequently originated rate bucket of loans were 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 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
93.75%

South Pacific Financial Corporation has an average approval rate.

Pick Rate

Approvals leading to origination
73.56%

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%