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, Fresno, and San Francisco among others. We have data for 25 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

    1,268

    Origination Dollar Volume (All Markets)

    $412,320,000

    Awards

    SCENIC OAKS FUNDING FHA Loans silver
    Show all (1) 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) 764 $246,810,000 $323,050 $5,433 3.15%
    STOCKTON, CA (FHA|USDA|VA) 178 $62,930,000 $353,539 $6,229 3.12%
    MERCED, CA (FHA|USDA|VA) 175 $51,115,000 $292,086 $5,641 3.13%
    FRESNO, CA (FHA|USDA|VA) 34 $8,670,000 $255,000 $5,124 3.07%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 17 $7,995,000 $470,294 $7,371 3.16%
    Outside of Metro Areas 23 $7,685,000 $334,130 $5,896 3.21%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 14 $5,470,000 $390,714 $7,917 2.94%
    MADERA, CA (FHA|USDA|VA) 19 $5,465,000 $287,632 $5,839 3.03%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 10 $5,030,000 $503,000 $5,892 3.09%
    Sonora, CA (FHA|USDA|VA) 11 $3,215,000 $292,273 $5,074 3.13%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,140,000 $570,000 $7,843 3.06%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $1,090,000 $545,000 $4,105 2.75%
    VALLEJO, CA (FHA|USDA|VA) 2 $860,000 $430,000 $8,551 4.06%
    VISALIA, CA (FHA|USDA|VA) 3 $755,000 $251,667 $4,125 2.83%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $730,000 $365,000 $4,976 2.88%
    YUBA CITY, CA (FHA|USDA|VA) 2 $700,000 $350,000 $8,638 2.94%
    REDDING, CA (FHA|USDA|VA) 2 $600,000 $300,000 $8,324 2.63%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $465,000 $465,000 $19,455 2.25%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,335 2.88%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $315,000 $315,000 $10,156 4.00%
    Red Bluff, CA (FHA|USDA|VA) 1 $295,000 $295,000 $3,967 3.38%
    EL CENTRO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $4,182 3.25%
    SALINAS, CA (FHA|USDA|VA) 1 $155,000 $155,000 $2,855 3.13%
    CHICO, CA (FHA|USDA|VA) 1 $155,000 $155,000 $3,584 2.88%
    Clearlake, CA (FHA|USDA|VA) 1 $145,000 $145,000 $6,389 2.50%
    Scenic Oaks Funding's top markets include Modesto, Stockton, Merced, Fresno, and San Francisco 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.

    MERCO Credit Union
    Similarity Rank: 348
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 680
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 1134
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1164
    CALLISTO GROUP, INC.
    Similarity Rank: 2150
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 2191
    Provident Savings Bank, F.S.B.
    Similarity Rank: 2544
    Sierra Central Credit Union
    Similarity Rank: 2628
    T. J. FINANCIAL, INC.
    Similarity Rank: 2674
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 2715

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,004 $318,250,000 $316,982 $4,638 3.21%
    FHA 196 $67,210,000 $342,908 $10,645 2.90%
    VA 58 $23,300,000 $401,724 $8,122 2.64%
    USDA 10 $3,560,000 $356,000 $8,466 2.63%

    For 2021, Scenic Oaks Funding's most frequently originated type of loan was Conventional, with 1,004 originations. Their 2nd most popular type was FHA, with 196 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 720 $256,350,000 $356,042 $6,816 3.14%
    Refi 328 $91,720,000 $279,634 $3,915 3.02%
    Cash Out Refi 219 $64,135,000 $292,854 $4,701 3.26%
    Home Improvement 1 $115,000 $115,000 $2,523 2.75%

    For 2021, Scenic Oaks Funding's most frequently cited loan purpose was Home Purchase, with 720 originations. The 2nd most popular reason was Refi, with 328 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,160 $386,310,000 $333,026 $5,833 3.17%
    15 Year 67 $15,515,000 $231,567 $3,700 2.65%
    20 Year 25 $5,795,000 $231,800 $3,973 2.98%
    Other 14 $4,220,000 $301,429 $4,166 2.96%
    10 Year 2 $480,000 $240,000 $5,226 2.25%

    For 2021, Scenic Oaks Funding's most frequently cited loan duration was 30 Year, with 1,160 originations. The 2nd most popular length was 15 Year, with 67 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 767 $246,465,000 $321,336
    $2k-3k 212 $65,330,000 $308,160
    $5k+ 112 $42,610,000 $380,446
    $3k-4k 106 $32,610,000 $307,642
    $4k-5k 63 $23,085,000 $366,429
    $<1k 7 $1,965,000 $280,714

    Scenic Oaks Funding's average total fees were $5,833, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 767 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 653 $218,005,000 $333,851
    2.5-3% 473 $152,235,000 $321,850
    <2.5% 102 $29,440,000 $288,627
    4-5% 40 $12,640,000 $316,000

    During 2021, Scenic Oaks Funding's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 653 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 845 $256,695,000 $303,781 $5,632 3.14%
    $400k-600k 247 $115,365,000 $467,065 $6,664 3.14%
    $100k-200k 149 $23,085,000 $154,933 $3,667 3.07%
    $600k-1MM 17 $12,305,000 $723,824 $9,171 3.27%
    $100,000 or less 7 $625,000 $89,286 $2,883 2.89%
    $1MM+ 3 $4,245,000 $1,415,000 $16,031 3.46%

    2021 saw Scenic Oaks Funding place emphasis on $200k-400k loans with 845 originations, totaling $256,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 373 $105,775,000 $283,579 $5,773 3.09%
    $75k-100k 304 $99,010,000 $325,691 $5,691 3.14%
    $100k-150k 288 $103,970,000 $361,007 $5,767 3.20%
    $150k-250k 150 $60,240,000 $401,600 $5,600 3.21%
    $50k or less 127 $28,295,000 $222,795 $4,532 2.96%
    $250k+ 26 $15,030,000 $578,077 $8,183 3.28%

    Scenic Oaks Funding lent most frequently to those with incomes in the $50k-75k range, with 373 originations. The second most popular income band? $75k-100k, with 304 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 206 $68,830,000 $334,126 $5,294 3.20%
    20-30% 180 $54,250,000 $301,389 $4,455 3.06%
    44% 100 $32,640,000 $326,400 $5,404 3.21%
    50-60% 78 $28,590,000 $366,538 $10,537 2.86%
    43% 65 $21,055,000 $323,923 $5,626 3.25%
    42% 64 $23,550,000 $367,969 $6,078 3.20%
    41% 60 $19,090,000 $318,167 $5,897 3.17%
    49% 56 $17,220,000 $307,500 $5,801 3.15%
    38% 55 $16,325,000 $296,818 $4,766 3.18%
    39% 52 $16,660,000 $320,385 $5,516 3.22%
    48% 47 $15,745,000 $335,000 $5,537 3.10%
    45% 47 $15,595,000 $331,809 $5,531 3.12%
    40% 46 $15,510,000 $337,174 $5,866 3.17%
    <20% 45 $12,545,000 $278,778 $4,492 3.03%
    37% 45 $14,525,000 $322,778 $5,613 3.15%
    36% 37 $11,585,000 $313,108 $5,243 3.20%
    47% 36 $12,040,000 $334,444 $5,995 3.18%
    46% 33 $10,875,000 $329,545 $5,890 3.16%
    >60% 2 $1,070,000 $535,000 $5,894 2.69%

    Scenic Oaks Funding lent most frequently to those with DTI ratios of 30-36%, with 206 originations. The next most common DTI ratio? 20-30%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 874 $278,540,000 $318,696 $5,443 3.11%
    Not provided 314 $106,990,000 $340,732 $6,044 3.17%
    Asian 36 $12,190,000 $338,611 $6,541 3.06%
    Black 25 $8,155,000 $326,200 $7,059 3.20%
    American Indian 8 $2,690,000 $336,250 $6,519 3.11%
    Native Hawaiian or Islander 6 $1,830,000 $305,000 $4,922 3.42%
    Other Pacific Islander 2 $790,000 $395,000 $7,310 3.63%
    Filipino 2 $750,000 $375,000 $4,063 3.44%
    Asian Indian 1 $385,000 $385,000 $4,611 3.25%

    Approval Rates

    Total approvals of all applications
    98.11%

    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
    82.81%

    Scenic Oaks Funding has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,268 $412,320,000 $325,174

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,268 $412,320,000 $325,174

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $10,190,000 $159,219 $3,717 2.98%
    40-60% 182 $45,620,000 $250,659 $3,901 3.05%
    60-80% 464 $156,860,000 $338,060 $4,820 3.25%
    80-100% 540 $192,130,000 $355,796 $7,079 3.09%
    Over 100% 14 $6,750,000 $482,143 $15,326 2.60%
    Under 20% 4 $770,000 $192,500 $3,636 3.06%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    SCENIC OAKS FUNDING Conventional home mortgage Closing on a mortgage 1 100.0%