Certified Mortgage Rates, Fees & Info
El Monte, CALEI: 549300WXO2FZYE7KAW26
Tax ID: 95-6064741
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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
142Origination Dollar Volume (All Markets)
$23,010,000Relative 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% |
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
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
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
2023 saw Certified place emphasis on $100,000 or less loans with 87 originations, totaling $5,245,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications89.25%
Certified has an average approval rate.
Pick Rate
Approvals leading to origination83.10%
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 |