Scenic Oaks Funding Mortgage Rates, Fees & Info
MODESTO, CALEI: 549300WJIJV987NXVC31
Tax ID: 27-0746986
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Mortgage Data
Review & Overview
Scenic Oaks Funding is a smaller mortgage company specializing in Home Purchase loans. Scenic Oaks Funding has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Modesto, Merced, Stockton, Sacramento, and Sonora among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Scenic Oaks Funding 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. Scenic Oaks Funding 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 4/18/24 |
| 30 Year Conventional Refi | 7.11% | 4/18/24 |
| 30 Year Cash-out Refi | 7.02% | 4/18/24 |
| 30 Year FHA Purchase | 7.12% | 4/18/24 |
| 30 Year FHA Refi | 6.53% | 4/18/24 |
| 30 Year VA Purchase | 6.01% | 4/18/24 |
| 30 Year VA Refi | 6.30% | 4/18/24 |
| 30 Year USDA Purchase | 6.33% | 4/18/24 |
| 15 Year Conventional Purchase | 5.82% | 4/18/24 |
| 15 Year Conventional Refi | 6.66% | 4/18/24 |
| 15 Year Cash-out Refi | 6.66% | 4/18/24 |
| 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. | ||
Scenic Oaks Funding Mortgage Calculator
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This is not an official calculator from Scenic Oaks Funding. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
915Origination Dollar Volume (All Markets)
$244,855,000Awards
SCENIC OAKS FUNDING - 2018
SCENIC OAKS FUNDING is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| MODESTO, CA (FHA|USDA|VA) | 623 | $164,885,000 | $264,663 | $6,204 | 4.81% |
| MERCED, CA (FHA|USDA|VA) | 114 | $26,130,000 | $229,211 | $5,818 | 4.86% |
| STOCKTON, CA (FHA|USDA|VA) | 89 | $25,565,000 | $287,247 | $7,121 | 4.84% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 20 | $7,950,000 | $397,500 | $7,441 | 4.86% |
| Outside of Metro Areas | 15 | $4,425,000 | $295,000 | $7,375 | 4.73% |
| Sonora, CA (FHA|USDA|VA) | 13 | $2,785,000 | $214,231 | $5,007 | 5.05% |
| VALLEJO, CA (FHA|USDA|VA) | 7 | $2,435,000 | $347,857 | $7,875 | 4.75% |
| MADERA, CA (FHA|USDA|VA) | 9 | $2,315,000 | $257,222 | $5,850 | 4.72% |
| FRESNO, CA (FHA|USDA|VA) | 8 | $1,970,000 | $246,250 | $5,394 | 4.73% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $1,840,000 | $460,000 | $9,922 | 4.75% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $19,764 | 4.88% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $10,662 | 5.06% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,464 | 5.13% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,981 | 4.88% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $19,544 | 4.50% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,391 | 4.63% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,025 | 5.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,060 | 5.25% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,255 | 4.88% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,758 | 3.63% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against SCENIC OAKS FUNDING 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
For 2018, Scenic Oaks Funding's most frequently originated type of loan was Conventional, with 538 originations. Their 2nd most popular type was FHA, with 284 originations.
Loan Reason
For 2018, Scenic Oaks Funding's most frequently cited loan purpose was Home Purchase, with 716 originations. The 2nd most popular reason was Cash Out Refi, with 144 originations.
Loan Duration/Length
For 2018, Scenic Oaks Funding's most frequently cited loan duration was 30 Year, with 880 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
Scenic Oaks Funding's average total fees were $6,407, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 606 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 599 | $163,335,000 | $272,679 |
| 5-6% | 253 | $65,585,000 | $259,229 |
| 3-4% | 54 | $13,720,000 | $254,074 |
| 6-7% | 9 | $2,215,000 | $246,111 |
During 2018, Scenic Oaks Funding's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 599 originations.
Loan Sizing
2018 saw Scenic Oaks Funding place emphasis on $200k-400k loans with 627 originations, totaling $173,885,000 in origination value.
Applicant Income
Scenic Oaks Funding lent most frequently to those with incomes in the $50k-75k range, with 290 originations. The second most popular income band? $100k-150k, with 186 originations.
Applicant Debt to Income Ratio
Scenic Oaks Funding lent most frequently to those with DTI ratios of 30-36%, with 144 originations. The next most common DTI ratio? 50-60%, with 128 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.43%
Scenic Oaks Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination71.48%
Scenic Oaks Funding has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 915 | $244,855,000 | $267,601 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $870,000 | $217,500 |
| Single Family (1-4 Units):Site-Built | 911 | $243,985,000 | $267,821 |