Certified Mortgage Rates, Fees & Info

El Monte, CA

LEI: 549300WXO2FZYE7KAW26

Tax ID: 95-6064741

5 stars - Updated: 7/12/24 - out of 5 stars, based on 12 reviews

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

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Mortgage Data

Review & Overview

Certified is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Certified has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, Dallas, and Santa Rosa among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Certified has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Certified 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 relatively high 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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Originations

142

Origination Dollar Volume (All Markets)

$23,010,000

Relative Rate

Certified's average 30 year fixed mortgage rate was 6.3%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.18%.

Relative Fees (Closing Costs)

Certified's average total fees/closing costs for a 30 year fixed rate mortgage were $4,340.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 87 $12,335,000 $141,782 $1,101 6.64%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 31 $5,225,000 $168,548 $1,516 6.58%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $1,255,000 $251,000 $685 6.60%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,085,000 $361,667 $0 5.58%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $725,000 $725,000 $0 6.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $600,000 $300,000 $0 6.63%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $575,000 $191,667 $3,240 6.42%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $550,000 $275,000 $0 6.99%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $245,000 $81,667 $0 6.33%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.99%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $140,000 $70,000 $0 5.81%
EL CENTRO, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.75%
YUMA, AZ (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
Certified's top markets include Los Angeles, Riverside, Oxnard, Dallas, and Santa Rosa among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 142 $23,010,000 $162,042 $1,252 6.61%

    For 2023, Certified's most frequently originated type of loan was Conventional, with 142 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 113 $10,775,000 $95,354 $513 6.64%
    Home Purchase 21 $11,425,000 $544,048 $5,022 6.20%
    Home Improvement 7 $735,000 $105,000 $65 7.50%
    Refi 1 $75,000 $75,000 $0 5.25%

    For 2023, Certified's most frequently cited loan purpose was Cash Out Refi, with 113 originations. The 2nd most popular reason was Home Purchase, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 95 $9,225,000 $97,105 $591 6.77%
    10 Year 22 $1,430,000 $65,000 $347 6.34%
    30 Year 22 $11,790,000 $535,909 $4,340 6.30%
    20 Year 3 $565,000 $188,333 $0 5.83%

    For 2023, Certified's most frequently cited loan duration was 15 Year, with 95 originations. The 2nd most popular length was 10 Year, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 14 $5,800,000 $414,286
    $5k+ 1 $575,000 $575,000

    Certified's average total fees were $4,340, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 78 $12,010,000 $153,974
    5-6% 34 $7,440,000 $218,824
    7-8% 30 $3,560,000 $118,667

    During 2023, Certified's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 6-7%, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 87 $5,245,000 $60,287 $359 6.66%
    $100k-200k 27 $3,675,000 $136,111 $456 6.71%
    $200k-400k 11 $2,995,000 $272,273 $1,185 6.53%
    $400k-600k 9 $4,525,000 $502,778 $4,637 6.01%
    $600k-1MM 7 $5,395,000 $770,714 $5,792 6.35%
    $1MM+ 1 $1,175,000 $1,175,000 $0 7.13%

    2023 saw Certified place emphasis on $100,000 or less loans with 87 originations, totaling $5,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 41 $4,765,000 $116,220 $777 6.74%
    $150k-250k 36 $8,250,000 $229,167 $1,819 6.54%
    $75k-100k 33 $3,145,000 $95,303 $1,067 6.57%
    $250k+ 14 $5,820,000 $415,714 $1,464 6.58%
    $50k-75k 13 $685,000 $52,692 $862 6.56%
    $50k or less 5 $345,000 $69,000 $0 6.48%

    Certified lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $150k-250k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 24 $4,950,000 $206,250 $530 6.58%
    39% 13 $1,605,000 $123,462 $6,471 6.66%
    20-30% 13 $2,895,000 $222,692 $828 6.57%
    38% 10 $2,270,000 $227,000 $375 6.71%
    47% 9 $805,000 $89,444 $573 6.86%
    45% 8 $1,050,000 $131,250 $2,323 6.44%
    43% 8 $1,700,000 $212,500 $0 6.41%
    37% 8 $1,650,000 $206,250 $3,728 6.56%
    42% 8 $820,000 $102,500 $685 6.66%
    40% 7 $1,215,000 $173,571 $83 6.96%
    36% 7 $1,305,000 $186,429 $1,782 6.66%
    44% 7 $645,000 $92,143 $467 6.71%
    46% 6 $470,000 $78,333 $393 6.71%
    41% 5 $835,000 $167,000 $4,183 6.25%
    <20% 4 $370,000 $92,500 $1,142 6.06%
    49% 3 $295,000 $98,333 $550 6.71%
    48% 2 $130,000 $65,000 $0 6.50%

    Certified lent most frequently to those with DTI ratios of 30-36%, with 24 originations. The next most common DTI ratio? 39%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 123 $18,435,000 $149,878 $746 6.60%
    Asian 6 $2,270,000 $378,333 $4,067 6.50%
    Black 8 $1,450,000 $181,250 $3,234 6.69%
    Not provided 2 $700,000 $350,000 $4,655 6.87%
    American Indian 2 $90,000 $45,000 $125 6.50%
    Filipino 1 $65,000 $65,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    89.25%

    Certified has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.10%

    Certified has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 71 $5,875,000 $82,746
    6655.0 1 $575,000 $575,000
    895.0 1 $805,000 $805,000
    NA 69 $15,755,000 $228,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    142 $23,010,000 $162,042

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $2,935,000 $172,647 $638 6.71%
    40-60% 3 $1,175,000 $391,667 $2,323 6.16%
    60-80% 11 $6,135,000 $557,727 $5,022 6.09%
    80-100% 6 $4,840,000 $806,667 $0 6.45%
    Under 20% 105 $7,925,000 $75,476 $382 6.67%