Scenic Oaks Funding Mortgage Rates, Fees & Info

MODESTO, CA

LEI: 549300WJIJV987NXVC31

Tax ID: 27-0746986

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Scenic Oaks Funding is a smaller mortgage company specializing in Home Purchase and Refi loans. Scenic Oaks Funding 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 by origination volume include: Modesto, Stockton, Merced, Sacramento, and Fresno 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.77% 12/16/24
    30 Year Conventional Refi 7.11% 12/16/24
    30 Year Cash-out Refi 7.02% 12/16/24
    30 Year FHA Purchase 7.12% 12/16/24
    30 Year FHA Refi 6.53% 12/16/24
    30 Year VA Purchase 6.01% 12/16/24
    30 Year VA Refi 6.30% 12/16/24
    30 Year USDA Purchase 6.33% 12/16/24
    15 Year Conventional Purchase 5.82% 12/16/24
    15 Year Conventional Refi 6.66% 12/16/24
    15 Year Cash-out Refi 6.66% 12/16/24
    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






    Your Estimates

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

    This is not an official calculator from Scenic Oaks Funding. 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

    1,661

    Origination Dollar Volume (All Markets)

    $485,105,000
    Show all (9) awards

    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) 1,137 $326,715,000 $287,348 $5,096 3.25%
    STOCKTON, CA (FHA|USDA|VA) 220 $70,240,000 $319,273 $5,636 3.23%
    MERCED, CA (FHA|USDA|VA) 163 $43,145,000 $264,693 $5,544 3.15%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 33 $10,715,000 $324,697 $5,217 3.10%
    FRESNO, CA (FHA|USDA|VA) 24 $6,720,000 $280,000 $5,369 3.19%
    MADERA, CA (FHA|USDA|VA) 22 $5,440,000 $247,273 $5,416 2.99%
    Outside of Metro Areas 15 $4,335,000 $289,000 $5,068 3.03%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,215,000 $468,333 $7,461 3.00%
    Sonora, CA (FHA|USDA|VA) 12 $3,160,000 $263,333 $5,762 3.18%
    VALLEJO, CA (FHA|USDA|VA) 7 $2,435,000 $347,857 $6,531 3.20%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,835,000 $611,667 $10,499 2.92%
    SALINAS, CA (FHA|USDA|VA) 3 $1,755,000 $585,000 $3,129 3.67%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $1,125,000 $375,000 $3,452 3.17%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 3 $925,000 $308,333 $4,045 3.33%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $725,000 $725,000 $3,805 2.88%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $520,000 $260,000 $6,847 3.38%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $435,000 $435,000 $6,658 2.75%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $305,000 $305,000 $5,514 3.38%
    VISALIA, CA (FHA|USDA|VA) 1 $235,000 $235,000 $2,680 2.50%
    Clearlake, CA (FHA|USDA|VA) 1 $125,000 $125,000 $2,687 3.00%
    Scenic Oaks Funding's top markets include Modesto, Stockton, Merced, Sacramento, and Fresno among others.

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

    • 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.

    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 330
    MERCO Credit Union
    Similarity Rank: 348
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1120
    BNB FINANCIAL INC.
    Similarity Rank: 1184
    COMMUNITY FIRST CREDIT UNION
    Similarity Rank: 1972
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 2093
    SACRAMENTO Credit Union
    Similarity Rank: 2256
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 2480
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 3094
    Loan Simple, Inc.
    Similarity Rank: 3240

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,364 $389,400,000 $285,484 $4,259 3.28%
    FHA 214 $67,610,000 $315,935 $10,861 3.06%
    VA 68 $23,600,000 $347,059 $6,877 2.66%
    USDA 15 $4,495,000 $299,667 $7,608 2.83%

    For 2020, Scenic Oaks Funding's most frequently originated type of loan was Conventional, with 1,364 originations. Their 2nd most popular type was FHA, with 214 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 701 $227,255,000 $324,187 $6,997 3.23%
    Refi 621 $170,995,000 $275,354 $3,753 3.11%
    Cash Out Refi 320 $81,900,000 $255,938 $4,398 3.40%
    Home Improvement 14 $3,670,000 $262,143 $3,485 3.44%
    Other 5 $1,285,000 $257,000 $4,548 3.48%

    For 2020, Scenic Oaks Funding's most frequently cited loan purpose was Home Purchase, with 701 originations. The 2nd most popular reason was Refi, with 621 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,445 $432,585,000 $299,367 $5,460 3.26%
    15 Year 97 $22,105,000 $227,887 $3,765 2.80%
    20 Year 88 $22,800,000 $259,091 $3,860 3.11%
    Other 22 $6,260,000 $284,545 $3,921 3.18%
    10 Year 9 $1,355,000 $150,556 $3,725 2.89%

    For 2020, Scenic Oaks Funding's most frequently cited loan duration was 30 Year, with 1,445 originations. The 2nd most popular length was 15 Year, with 97 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 998 $288,550,000 $289,128
    $2k-3k 303 $81,215,000 $268,036
    $3k-4k 145 $41,225,000 $284,310
    $5k+ 109 $41,895,000 $384,358
    $4k-5k 81 $25,375,000 $313,272
    $<1k 25 $6,845,000 $273,800

    Scenic Oaks Funding's average total fees were $5,460, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 998 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 831 $241,395,000 $290,487
    2.5-3% 593 $175,115,000 $295,304
    <2.5% 130 $40,040,000 $308,000
    4-5% 104 $27,950,000 $268,750
    5-6% 3 $605,000 $201,667

    During 2020, Scenic Oaks Funding's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 831 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,167 $337,645,000 $289,327 $5,395 3.22%
    $100k-200k 262 $41,050,000 $156,679 $3,652 3.25%
    $400k-600k 196 $90,290,000 $460,663 $6,146 3.20%
    $600k-1MM 18 $12,620,000 $701,111 $10,337 3.34%
    $100,000 or less 16 $1,410,000 $88,125 $3,110 3.20%
    $1MM+ 2 $2,090,000 $1,045,000 $10,945 3.63%

    2020 saw Scenic Oaks Funding place emphasis on $200k-400k loans with 1,167 originations, totaling $337,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 411 $131,585,000 $320,158 $5,185 3.25%
    $50k-75k 405 $105,765,000 $261,148 $5,403 3.17%
    $75k-100k 400 $114,430,000 $286,075 $5,452 3.26%
    $50k or less 223 $48,845,000 $219,036 $4,604 3.09%
    $150k-250k 171 $62,105,000 $363,187 $5,259 3.32%
    $250k+ 51 $22,375,000 $438,725 $5,667 3.35%

    Scenic Oaks Funding lent most frequently to those with incomes in the $100k-150k range, with 411 originations. The second most popular income band? $50k-75k, with 405 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 313 $91,715,000 $293,019 $4,704 3.27%
    20-30% 286 $81,470,000 $284,860 $4,391 3.18%
    <20% 97 $23,045,000 $237,577 $4,035 3.13%
    44% 91 $27,565,000 $302,912 $5,385 3.34%
    43% 79 $23,135,000 $292,848 $5,563 3.34%
    41% 78 $21,340,000 $273,590 $5,264 3.24%
    42% 73 $20,665,000 $283,082 $5,958 3.43%
    40% 71 $22,035,000 $310,352 $5,690 3.29%
    37% 64 $20,230,000 $316,094 $5,493 3.29%
    50-60% 61 $19,575,000 $320,902 $9,547 2.83%
    39% 61 $18,975,000 $311,066 $5,835 3.39%
    49% 58 $16,920,000 $291,724 $5,759 3.27%
    38% 51 $14,995,000 $294,020 $6,051 3.25%
    36% 51 $15,775,000 $309,314 $4,961 3.21%
    46% 50 $14,950,000 $299,000 $5,919 3.14%
    47% 49 $14,215,000 $290,102 $5,442 3.13%
    48% 49 $14,095,000 $287,653 $5,879 3.32%
    45% 48 $13,700,000 $285,417 $5,040 3.12%

    Scenic Oaks Funding lent most frequently to those with DTI ratios of 30-36%, with 313 originations. The next most common DTI ratio? 20-30%, with 286 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,267 $365,725,000 $288,654 $5,109 3.25%
    Not provided 314 $92,690,000 $295,191 $5,598 3.13%
    Asian 45 $14,815,000 $329,222 $5,643 3.16%
    Black 16 $5,160,000 $322,500 $7,089 3.17%
    American Indian 13 $4,635,000 $356,538 $6,381 3.27%
    Native Hawaiian or Islander 6 $2,080,000 $346,667 $5,523 2.83%

    Approval Rates

    Total approvals of all applications
    97.48%

    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 origination
    81.64%

    Scenic Oaks Funding has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,661 $485,105,000 $292,056

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $410,000 $205,000
    Single Family (1-4 Units):Site-Built 1,659 $484,695,000 $292,161

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 76 $10,790,000 $141,974 $3,273 3.08%
    40-60% 264 $59,900,000 $226,894 $3,657 3.10%
    60-80% 635 $187,995,000 $296,055 $4,301 3.31%
    80-100% 670 $221,220,000 $330,179 $6,847 3.21%
    Over 100% 13 $4,555,000 $350,385 $13,306 2.68%
    Under 20% 2 $190,000 $95,000 $2,251 3.69%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SUNCOAST CREDIT UNION Conventional home mortgage Struggling to pay mortgage 1 100.0%