Monarch Funding Corp. Mortgage Rates, Fees & Info

ANAHEIM, CA

LEI: 549300ULXKJUJDK2RQ54

Tax ID: 95-3363852

3.7 stars - Updated: 2/19/24 - out of 5 stars, based on 7 reviews

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

Jump to:

Mortgage Data

Review & Overview

Monarch Funding Corp. is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Monarch Funding Corp. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, and San Diego among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Monarch Funding Corp. has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Monarch Funding Corp. 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
30 Year Conventional Purchase 6.50% 2/19/24
30 Year Conventional Refi 6.18% 2/19/24
30 Year Cash-out Refi 6.76% 2/19/24
30 Year FHA Purchase 7.39% 2/19/24
30 Year VA Purchase 5.94% 2/19/24
15 Year Conventional Purchase 5.72% 2/19/24
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.

Monarch Funding Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Monarch Funding Corp.. 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

48

Origination Dollar Volume (All Markets)

$25,320,000

Awards

MONARCH FUNDING CORP. VA Loans silver
Show all (1) awards

Relative Rate

Monarch Funding Corp.'s average 30 year fixed mortgage rate was 4.76%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0%.

Relative Fees (Closing Costs)

Monarch Funding Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $7,834.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 27 $15,455,000 $572,407 $7,738 4.44%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 19 $8,515,000 $448,158 $8,115 5.01%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $965,000 $965,000 $10,263 6.25%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $385,000 $385,000 $5,013 5.13%
Monarch Funding Corp.'s top markets include Los Angeles, Riverside, San Francisco, and San Diego among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against MONARCH FUNDING CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Credence Funding Corporation
    Similarity Rank: 316
    Chaffey Federal Credit Union
    Similarity Rank: 644
    MISSION
    Similarity Rank: 1025
    Christian Community Credit Union
    Similarity Rank: 1062
    Los Angeles Federal Credit Union
    Similarity Rank: 1120
    First City Credit Union
    Similarity Rank: 1300
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $24,220,000 $526,522 $7,839 4.74%
    FHA 1 $485,000 $485,000 $13,771 3.25%
    VA 1 $615,000 $615,000 $4,008 5.25%

    For 2022, Monarch Funding Corp.'s most frequently originated type of loan was Conventional, with 46 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $16,625,000 $536,290 $9,617 4.95%
    Cash Out Refi 11 $5,565,000 $505,909 $5,002 4.34%
    Refi 6 $3,130,000 $521,667 $4,209 4.23%

    For 2022, Monarch Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 46 $24,310,000 $528,478 $7,834 4.76%
    15 Year 2 $1,010,000 $505,000 $9,012 3.81%

    For 2022, Monarch Funding Corp.'s most frequently cited loan duration was 30 Year, with 46 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 14 $8,870,000 $633,571
    $2k-3k 11 $5,135,000 $466,818
    $3k-4k 10 $4,690,000 $469,000
    $4k-5k 9 $4,275,000 $475,000
    $<1k 3 $1,435,000 $478,333
    $1k-2k 1 $915,000 $915,000

    Monarch Funding Corp.'s average total fees were $7,834, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 14 $7,250,000 $517,857
    5-6% 13 $6,925,000 $532,692
    4-5% 12 $6,760,000 $563,333
    6-7% 6 $2,390,000 $398,333
    2.5-3% 2 $1,610,000 $805,000
    7-8% 1 $385,000 $385,000

    During 2022, Monarch Funding Corp.'s average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 18 $8,850,000 $491,667 $7,980 4.47%
    $600k-1MM 16 $12,380,000 $773,750 $8,757 4.52%
    $200k-400k 12 $3,750,000 $312,500 $7,082 5.25%
    $100k-200k 2 $340,000 $170,000 $4,827 5.50%

    2022 saw Monarch Funding Corp. place emphasis on $400k-600k loans with 18 originations, totaling $8,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 16 $9,900,000 $618,750 $8,071 4.54%
    $250k+ 15 $8,685,000 $579,000 $8,287 4.84%
    $100k-150k 10 $4,250,000 $425,000 $8,330 4.32%
    $50k-75k 3 $1,125,000 $375,000 $5,875 6.04%
    $50k or less 3 $975,000 $325,000 $4,443 5.00%
    $75k-100k 1 $385,000 $385,000 $10,692 5.00%

    Monarch Funding Corp. lent most frequently to those with incomes in the $150k-250k range, with 16 originations. The second most popular income band? $250k+, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 12 $7,000,000 $583,333 $7,155 4.57%
    20-30% 9 $4,575,000 $508,333 $8,305 4.76%
    39% 6 $3,340,000 $556,667 $8,016 5.06%
    41% 3 $1,585,000 $528,333 $8,255 4.83%
    <20% 3 $1,405,000 $468,333 $10,890 5.54%
    40% 3 $1,795,000 $598,333 $9,372 5.08%
    50-60% 2 $1,120,000 $560,000 $5,674 4.75%
    37% 2 $1,300,000 $650,000 $10,310 4.25%
    45% 2 $1,010,000 $505,000 $9,151 4.38%
    44% 1 $175,000 $175,000 $6,090 5.13%
    42% 1 $385,000 $385,000 $5,013 5.13%
    46% 1 $285,000 $285,000 $5,233 3.63%
    47% 1 $455,000 $455,000 $10,179 3.38%
    49% 1 $505,000 $505,000 $2,132 4.38%
    43% 1 $385,000 $385,000 $5,208 3.75%

    Monarch Funding Corp. lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $21,890,000 $521,190 $7,859 4.66%
    Asian 5 $3,225,000 $645,000 $8,109 4.93%
    Black 1 $205,000 $205,000 $7,761 6.13%

    Approval Rates

    Total approvals of all applications
    100.00%

    Monarch Funding Corp. 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
    93.75%

    Monarch Funding Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 48 $25,320,000 $527,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    48 $25,320,000 $527,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $1,605,000 $321,000 $4,062 4.93%
    40-60% 11 $5,055,000 $459,545 $7,040 4.85%
    60-80% 25 $14,055,000 $562,200 $8,595 4.71%
    80-100% 7 $4,605,000 $657,857 $9,394 4.43%