Mountain West Financial Mortgage Rates, Fees & Info

Westlake Village, CA

LEI: 549300WEOD0TL2O6EU67

Tax ID: 33-0419992

3.8 stars - out of 5 stars, based on 79 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mountain West Financial is a small mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Mountain West Financial 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 Riverside, Los Angeles, Sacramento, Santa Cruz, and San Diego among others. Mountain West Financial 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. Mountain West Financial is typically a high fee lendor.


Originations

6,280

Origination Dollar Volume (All Markets)

$1,930,250,000

Awards

MOUNTAIN WEST FINANCIAL  30 Year Conventional Loans silver MOUNTAIN WEST FINANCIAL  30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Mountain West Financial 's average 30 year fixed rate mortgage of loans were 2.79%.

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

This yields a difference of -0.36%.

Relative Fees

Mountain West Financial 's average total fees for a 30 year fixed rate mortgage are $7,077.

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
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2,482 $723,060,000 $291,322 $6,613 2.82%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 572 $227,590,000 $397,885 $7,328 2.83%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 693 $207,985,000 $300,123 $6,190 2.74%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 242 $115,250,000 $476,240 $4,972 2.99%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 167 $69,935,000 $418,772 $7,704 2.71%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 151 $52,095,000 $345,000 $5,284 2.65%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 117 $48,775,000 $416,880 $9,834 2.63%
SALINAS, CA (FHA|USDA|VA) 76 $34,220,000 $450,263 $8,065 2.91%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 114 $32,660,000 $286,491 $5,329 2.94%
GRANTS PASS, OR (FHA|USDA|VA) 116 $31,870,000 $274,741 $5,710 3.04%
Outside of Metro Areas 102 $27,770,000 $272,255 $6,374 2.85%
STOCKTON, CA (FHA|USDA|VA) 106 $26,550,000 $250,472 $8,983 2.38%
BAKERSFIELD, CA (FHA|USDA|VA) 134 $26,100,000 $194,776 $7,624 2.49%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 56 $25,520,000 $455,714 $7,205 2.80%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 70 $24,030,000 $343,286 $7,839 2.52%
MODESTO, CA (FHA|USDA|VA) 89 $22,635,000 $254,326 $6,705 2.67%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 90 $22,620,000 $251,333 $4,863 3.20%
VALLEJO, CA (FHA|USDA|VA) 74 $20,020,000 $270,541 $10,577 2.39%
PROVO-OREM, UT (FHA|USDA|VA) 71 $18,685,000 $263,169 $5,674 3.11%
FRESNO, CA (FHA|USDA|VA) 100 $18,350,000 $183,500 $9,121 2.32%
MERCED, CA (FHA|USDA|VA) 56 $14,650,000 $261,607 $6,678 2.74%
SALT LAKE CITY, UT (FHA|USDA|VA) 48 $11,050,000 $230,208 $9,672 3.61%
YUBA CITY, CA (FHA|USDA|VA) 40 $9,520,000 $238,000 $7,959 2.50%
MEDFORD, OR (FHA|USDA|VA) 31 $8,535,000 $275,323 $5,820 3.14%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 31 $8,255,000 $266,290 $4,224 3.00%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 26 $7,250,000 $278,846 $11,764 2.25%
LAREDO, TX (FHA|USDA|VA) 72 $6,950,000 $96,528 $7,815 1.59%
GREELEY, CO (FHA|USDA|VA) 20 $5,590,000 $279,500 $7,071 2.43%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 38 $4,890,000 $128,684 $7,584 2.07%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 13 $4,845,000 $372,692 $9,092 2.93%
VISALIA, CA (FHA|USDA|VA) 23 $4,725,000 $205,435 $7,337 2.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 22 $4,700,000 $213,636 $9,216 3.70%
Ukiah, CA (FHA|USDA|VA) 17 $4,455,000 $262,059 $8,489 2.51%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 14 $4,350,000 $310,714 $7,061 2.53%
BOULDER, CO (FHA|USDA|VA) 7 $3,415,000 $487,857 $4,151 2.96%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $3,380,000 $563,333 $8,397 2.77%
MADERA, CA (FHA|USDA|VA) 15 $3,275,000 $218,333 $5,904 2.69%
Clearlake, CA (FHA|USDA|VA) 13 $3,255,000 $250,385 $10,448 2.60%
COLORADO SPRINGS, CO (FHA|USDA|VA) 9 $2,625,000 $291,667 $10,400 2.07%
FORT COLLINS, CO (FHA|USDA|VA) 9 $2,395,000 $266,111 $6,814 2.40%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $2,320,000 $232,000 $8,132 2.31%
RENO, NV (FHA|USDA|VA) 6 $2,260,000 $376,667 $2,953 2.92%
CHICO, CA (FHA|USDA|VA) 9 $2,055,000 $228,333 $5,901 2.51%
Astoria, OR (FHA|USDA|VA) 6 $1,900,000 $316,667 $6,973 2.71%
Sonora, CA (FHA|USDA|VA) 7 $1,785,000 $255,000 $4,958 3.11%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 4 $1,720,000 $430,000 $4,458 3.22%
Gardnerville Ranchos, NV (FHA|USDA|VA) 2 $1,680,000 $840,000 $21,249 3.00%
Truckee-Grass Valley, CA (FHA|USDA|VA) 5 $1,645,000 $329,000 $4,004 2.90%
TUCSON, AZ (FHA|USDA|VA) 5 $1,525,000 $305,000 $4,824 3.07%
Heber, UT (FHA|USDA|VA) 3 $1,145,000 $381,667 $3,420 3.08%
ST. GEORGE, UT (FHA|USDA|VA) 5 $1,095,000 $219,000 $8,811 4.23%
NAPA, CA (FHA|USDA|VA) 3 $1,025,000 $341,667 $5,169 2.83%
FLAGSTAFF, AZ (FHA|USDA|VA) 4 $970,000 $242,500 $3,850 2.81%
REDDING, CA (FHA|USDA|VA) 4 $920,000 $230,000 $7,010 2.41%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 4 $890,000 $222,500 $5,761 2.84%
YUMA, AZ (FHA|USDA|VA) 3 $815,000 $271,667 $6,483 3.04%
EL CENTRO, CA (FHA|USDA|VA) 6 $770,000 $128,333 $7,517 2.19%
Roseburg, OR (FHA|USDA|VA) 3 $725,000 $241,667 $5,801 2.91%
Eureka-Arcata, CA (FHA|USDA|VA) 3 $715,000 $238,333 $8,870 2.79%
Cedar City, UT (FHA|USDA|VA) 3 $695,000 $231,667 $15,676 3.79%
Brookings, OR (FHA|USDA|VA) 2 $620,000 $310,000 $10,175 2.75%
PUEBLO, CO (FHA|USDA|VA) 4 $600,000 $150,000 $6,707 2.63%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $590,000 $295,000 $2,906 2.75%
Fort Morgan, CO (FHA|USDA|VA) 4 $540,000 $135,000 $10,544 1.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $535,000 $178,333 $5,312 3.04%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $500,000 $250,000 $3,827 3.31%
Show Low, AZ (FHA|USDA|VA) 3 $495,000 $165,000 $9,722 2.46%
Vernal, UT (FHA|USDA|VA) 3 $485,000 $161,667 $8,867 3.92%
Payson, AZ (FHA|USDA|VA) 4 $480,000 $120,000 $4,302 3.81%
ODESSA, TX (FHA|USDA|VA) 4 $470,000 $117,500 $8,600 1.63%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 3 $445,000 $148,333 $8,498 2.17%
Coos Bay, OR (FHA|USDA|VA) 2 $420,000 $210,000 $4,885 2.94%
SALEM, OR (FHA|USDA|VA) 1 $335,000 $335,000 $5,815 2.99%
BEND, OR (FHA|USDA|VA) 1 $325,000 $325,000 $5,630 3.00%
Pahrump, NV (FHA|USDA|VA) 1 $315,000 $315,000 $5,023 3.38%
Susanville, CA (FHA|USDA|VA) 3 $315,000 $105,000 $3,731 3.00%
Newport, OR (FHA|USDA|VA) 1 $305,000 $305,000 $9,630 3.99%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $265,000 $265,000 $6,779 2.38%
Klamath Falls, OR (FHA|USDA|VA) 1 $255,000 $255,000 $5,934 2.63%
Red Bluff, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,312 2.99%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $245,000 $245,000 $4,839 3.38%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,391 3.38%
Fallon, NV (FHA|USDA|VA) 1 $205,000 $205,000 $4,156 3.13%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $165,000 $165,000 $3,578 3.50%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $165,000 $165,000 $3,047 2.75%
Price, UT (FHA|USDA|VA) 1 $125,000 $125,000 $2,285 2.63%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $95,000 $95,000 $4,155 3.38%

Mountain West Financial 's top markets include Riverside, Los Angeles, Sacramento, Santa Cruz, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 5,207 $1,553,315,000 $298,313 $5,300 2.71%
FHA 909 $313,135,000 $344,483 $13,492 3.12%
VA 145 $59,225,000 $408,448 $8,531 2.72%
USDA 19 $4,575,000 $240,789 $7,598 2.90%

For the 2021 period, Mountain West Financial 's most frequently originated loan type of loans were Conventional, with 5,207 originations. Their 2nd most popular type is FHA, with 909 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,862 $825,460,000 $288,421 $9,453 2.54%
Refi 1,722 $557,190,000 $323,571 $4,664 2.86%
Cash Out Refi 1,696 $547,600,000 $322,877 $5,436 3.08%

For the 2021, Mountain West Financial 's most frequently cited loan purpose of loans were Home Purchase, with 2,862 originations. The 2nd most popular reason of loans were Refi, with 1,722 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 5,647 $1,773,245,000 $314,015 $7,077 2.79%
15 Year 350 $84,590,000 $241,686 $4,079 2.47%
20 Year 218 $55,440,000 $254,312 $4,082 2.91%
Other 45 $13,305,000 $295,667 $4,256 2.89%
10 Year 19 $3,665,000 $192,895 $3,820 2.45%
3 Year 1 $5,000 $5,000 $0 0.00%

For the 2021, Mountain West Financial 's most frequently cited loan length of loans were 30 Year, with 5,647 originations. The 2nd most popular length of loans were 15 Year, with 350 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,784 $599,190,000 $335,869
$<1k 1,539 $276,245,000 $179,496
$5k+ 1,163 $475,845,000 $409,153
$3k-4k 925 $309,255,000 $334,330
$2k-3k 869 $269,715,000 $310,374

$7,077 of loans were Mountain West Financial 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,784 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,812 $984,660,000 $350,164
3-4% 2,131 $751,795,000 $352,790
<2.5% 1,200 $155,370,000 $129,475
4-5% 118 $35,620,000 $301,864
5-6% 19 $2,805,000 $147,632

During 2021, Mountain West Financial 's average interest rate of loans were 2.79%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,812 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 3,037 $906,245,000 $298,401 $6,448 3.05%
$400k-600k 1,438 $686,490,000 $477,392 $8,186 3.06%
$100,000 or less 795 $13,155,000 $16,547 $3,463 0.89%
$100k-200k 742 $117,570,000 $158,450 $4,296 2.98%
$600k-1MM 243 $174,505,000 $718,128 $9,528 3.10%
$1MM+ 25 $32,285,000 $1,291,400 $11,291 2.94%

2021 saw Mountain West Financial place emphasis on $200k-400k loans with 3,037 originations, totaling $906,245,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,620 $557,450,000 $344,105 $7,194 2.76%
$75k-100k 1,529 $445,925,000 $291,645 $7,155 2.70%
$50k-75k 1,517 $359,365,000 $236,892 $6,490 2.74%
$150k-250k 698 $307,740,000 $440,888 $6,659 3.00%
$50k or less 631 $111,195,000 $176,220 $5,184 2.74%
$250k+ 234 $129,600,000 $553,846 $7,326 3.03%

Mountain West Financial lent most frequently to those with incomes in the $100k-150k range, with 1,620 originations. The second most popular income band? $75k-100k, with 1,529 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 976 $307,300,000 $314,857 $5,714 2.88%
20-30% 813 $265,485,000 $326,550 $5,290 2.86%
44% 532 $143,260,000 $269,286 $8,168 2.50%
42% 358 $102,550,000 $286,453 $7,322 2.60%
43% 349 $99,345,000 $284,656 $7,293 2.67%
50-60% 295 $92,895,000 $314,898 $11,504 2.85%
40% 291 $82,555,000 $283,694 $6,885 2.66%
41% 288 $91,630,000 $318,160 $6,482 2.72%
39% 287 $80,245,000 $279,599 $7,476 2.62%
49% 271 $89,745,000 $331,162 $7,296 2.93%
38% 267 $83,035,000 $310,993 $6,570 2.73%
36% 238 $70,710,000 $297,101 $6,580 2.73%
<20% 229 $68,955,000 $301,114 $4,745 2.88%
37% 223 $63,675,000 $285,538 $6,400 2.72%
48% 215 $70,015,000 $325,651 $7,131 2.88%
45% 215 $71,345,000 $331,837 $6,735 2.95%
47% 201 $68,535,000 $340,970 $7,595 2.87%
46% 177 $58,045,000 $327,938 $6,909 2.91%
>60% 4 $1,950,000 $487,500 $13,137 2.88%

Mountain West Financial lent most frequently to those with DTI ratios of 30-36%, with 976 originations. The next most common DTI ratio? 20-30%, with 813 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,556 $1,388,340,000 $304,728 $6,475 2.79%
Not provided 1,023 $327,715,000 $320,347 $6,668 2.80%
Black 359 $94,675,000 $263,719 $10,020 2.46%
Asian 245 $93,495,000 $381,612 $6,973 2.81%
American Indian 62 $15,690,000 $253,065 $10,187 2.57%
Native Hawaiian 35 $10,335,000 $295,286 $10,493 2.43%

Approval Rates

Total approvals of all applications
92.69%

Mountain West Financial has an average approval rate.

Pick Rate

Approvals leading to origination
66.93%

Mountain West Financial has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 6,280 $1,930,250,000 $307,365

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,280 $1,930,250,000 $307,365

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 405 $86,165,000 $212,753 $4,215 2.85%
40-60% 1,048 $321,470,000 $306,746 $4,451 2.91%
60-80% 2,045 $747,165,000 $365,362 $5,684 3.07%
80-100% 1,980 $750,500,000 $379,040 $9,482 3.14%
Over 100% 27 $10,875,000 $402,778 $16,327 2.85%
Under 20% 775 $14,075,000 $18,161 $3,369 0.83%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 4 80.0%