Monarch Funding Corp. Mortgage Rates, Fees & Info
ANAHEIM, CALEI: 549300ULXKJUJDK2RQ54
Tax ID: 95-3363852
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Mortgage Data
Review & Overview
Monarch Funding Corp. is a smaller mortgage company specializing in Refi and Home Purchase 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 Diego, San Francisco, and San Jose among others. We have data for 6 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.50% | 4/22/24 |
| 30 Year Conventional Refi | 6.18% | 4/22/24 |
| 30 Year Cash-out Refi | 6.76% | 4/22/24 |
| 30 Year FHA Purchase | 7.39% | 4/22/24 |
| 30 Year VA Purchase | 5.94% | 4/22/24 |
| 15 Year Conventional Purchase | 5.72% | 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. | ||
Monarch Funding Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
387Origination Dollar Volume (All Markets)
$160,895,000Awards
MONARCH FUNDING CORP. - 2020
MONARCH FUNDING CORP. is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 172 | $84,430,000 | $490,872 | $3,624 | 3.03% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 203 | $71,555,000 | $352,488 | $3,446 | 3.12% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 8 | $3,320,000 | $415,000 | $4,984 | 3.44% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $5,107 | 3.50% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,170 | 3.38% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,041 | 2.88% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 349 | $142,605,000 | $408,610 | $3,285 | 3.10% |
| VA | 32 | $15,750,000 | $492,188 | $4,882 | 2.96% |
| FHA | 6 | $2,540,000 | $423,333 | $12,584 | 3.06% |
For 2020, Monarch Funding Corp.'s most frequently originated type of loan was Conventional, with 349 originations. Their 2nd most popular type was VA, with 32 originations.
Loan Reason
For 2020, Monarch Funding Corp.'s most frequently cited loan purpose was Refi, with 238 originations. The 2nd most popular reason was Home Purchase, with 79 originations.
Loan Duration/Length
For 2020, Monarch Funding Corp.'s most frequently cited loan duration was 30 Year, with 334 originations. The 2nd most popular length was 15 Year, with 34 originations.
Origination Fees/Closing Costs
Monarch Funding Corp.'s average total fees were $3,714, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 186 | $80,190,000 | $431,129 |
| 3-4% | 172 | $70,640,000 | $410,698 |
| <2.5% | 22 | $8,390,000 | $381,364 |
| 4-5% | 7 | $1,675,000 | $239,286 |
During 2020, Monarch Funding Corp.'s average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 186 originations.
Loan Sizing
2020 saw Monarch Funding Corp. place emphasis on $200k-400k loans with 170 originations, totaling $52,610,000 in origination value.
Applicant Income
Monarch Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $150k-250k, with 100 originations.
Applicant Debt to Income Ratio
Monarch Funding Corp. lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination97.42%
Monarch Funding Corp. has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 387 | $160,895,000 | $415,749 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 387 | $160,895,000 | $415,749 |