Pacific Service Mortgage Rates, Fees & Info

Concord, CA

LEI: 549300XR3B6372SESA46

Tax ID: 94-6061277

5 stars - out of 5 stars, based on 24 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Pacific Service is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Pacific Service has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Sacramento, Fresno, Vallejo, and San Jose among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Pacific Service 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. Pacific Service 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.38% 1/29/23
    30 Year Conventional Refi 6.33% 1/29/23
    30 Year Cash-out Refi 6.45% 1/29/23
    15 Year Conventional Purchase 5.83% 1/29/23
    15 Year Conventional Refi 5.94% 1/29/23
    15 Year Cash-out Refi 5.94% 1/29/23
    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.


    Originations

    596

    Origination Dollar Volume (All Markets)

    $190,760,000
    Show all (7) awards

    Relative Rate

    Pacific Service's average 30 year fixed mortgage rate was 3.05%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Pacific Service's average total fees/closing costs for a 30 year fixed rate mortgage were $3,136.

    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 $4,750.

    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
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 226 $82,880,000 $366,726 $3,080 3.20%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 55 $17,285,000 $314,273 $2,837 3.02%
    FRESNO, CA (FHA|USDA|VA) 68 $15,820,000 $232,647 $2,739 3.00%
    VALLEJO, CA (FHA|USDA|VA) 31 $10,295,000 $332,097 $3,286 3.21%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 20 $9,800,000 $490,000 $3,336 2.90%
    STOCKTON, CA (FHA|USDA|VA) 22 $7,130,000 $324,091 $2,690 3.27%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 18 $4,710,000 $261,667 $2,898 3.32%
    CHICO, CA (FHA|USDA|VA) 15 $4,215,000 $281,000 $3,290 2.90%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 15 $3,965,000 $264,333 $2,867 3.71%
    MODESTO, CA (FHA|USDA|VA) 13 $3,855,000 $296,538 $2,763 2.96%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 8 $3,090,000 $386,250 $2,682 3.28%
    SALINAS, CA (FHA|USDA|VA) 7 $2,805,000 $400,714 $3,234 2.98%
    Outside of Metro Areas 8 $2,610,000 $326,250 $3,275 3.02%
    REDDING, CA (FHA|USDA|VA) 12 $2,340,000 $195,000 $2,812 3.26%
    Red Bluff, CA (FHA|USDA|VA) 7 $2,235,000 $319,286 $3,505 2.77%
    BAKERSFIELD, CA (FHA|USDA|VA) 10 $2,160,000 $216,000 $2,692 2.94%
    NAPA, CA (FHA|USDA|VA) 4 $1,970,000 $492,500 $3,573 3.00%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 6 $1,610,000 $268,333 $2,606 2.83%
    VISALIA, CA (FHA|USDA|VA) 5 $1,445,000 $289,000 $2,709 2.90%
    MERCED, CA (FHA|USDA|VA) 8 $1,410,000 $176,250 $2,902 3.59%
    Sonora, CA (FHA|USDA|VA) 5 $1,385,000 $277,000 $2,909 2.88%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $1,380,000 $230,000 $3,232 2.96%
    YUBA CITY, CA (FHA|USDA|VA) 6 $1,190,000 $198,333 $2,273 3.50%
    MADERA, CA (FHA|USDA|VA) 6 $1,160,000 $193,333 $2,673 3.25%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $910,000 $455,000 $4,025 2.88%
    Eureka-Arcata, CA (FHA|USDA|VA) 3 $805,000 $268,333 $3,519 2.91%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $520,000 $260,000 $2,224 2.81%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $415,000 $415,000 $2,805 3.13%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 2 $390,000 $195,000 $2,547 2.81%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $330,000 $165,000 $2,357 3.06%
    Fernley, NV (FHA|USDA|VA) 1 $305,000 $305,000 $3,059 2.88%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $215,000 $215,000 $2,967 2.50%
    Clearlake, CA (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.50%
    Pacific Service's top markets include San Francisco, Sacramento, Fresno, Vallejo, and San Jose among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against PACIFIC SERVICE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    El Dorado Savings Bank, F.S.B.
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    COMMUNITY FIRST CREDIT UNION
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    KD CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 1887
    CALLISTO GROUP, INC.
    Similarity Rank: 2150
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 2191

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 596 $190,760,000 $320,067 $2,986 3.13%

    For 2021, Pacific Service's most frequently originated type of loan was Conventional, with 596 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 265 $90,335,000 $340,887 $2,856 3.01%
    Refi 211 $66,265,000 $314,052 $2,727 2.81%
    Home Purchase 71 $30,975,000 $436,268 $4,198 2.96%
    Home Improvement 29 $1,825,000 $62,931 $0 5.09%
    Other 20 $1,360,000 $68,000 $0 6.04%

    For 2021, Pacific Service's most frequently cited loan purpose was Cash Out Refi, with 265 originations. The 2nd most popular reason was Refi, with 211 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 363 $140,245,000 $386,350 $3,136 3.05%
    15 Year 132 $27,710,000 $209,924 $2,670 3.28%
    20 Year 54 $16,130,000 $298,704 $2,679 2.81%
    Other 22 $2,850,000 $129,545 $2,619 3.79%
    10 Year 18 $3,520,000 $195,556 $2,506 3.41%
    5 Year 7 $305,000 $43,571 $0 4.49%

    For 2021, Pacific Service's most frequently cited loan duration was 30 Year, with 363 originations. The 2nd most popular length was 15 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 483 $165,395,000 $342,433
    $1k-2k 16 $4,270,000 $266,875
    $2k-3k 14 $4,640,000 $331,429
    $3k-4k 10 $4,550,000 $455,000
    $5k+ 6 $3,520,000 $586,667

    Pacific Service's average total fees were $3,136, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 483 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 302 $102,370,000 $338,974
    3-4% 149 $57,875,000 $388,423
    <2.5% 95 $25,385,000 $267,211
    4-5% 24 $3,390,000 $141,250
    6-7% 21 $1,455,000 $69,286
    5-6% 5 $285,000 $57,000

    During 2021, Pacific Service's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 302 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 224 $65,840,000 $293,929 $2,698 2.91%
    $400k-600k 166 $79,990,000 $481,867 $3,244 2.91%
    $100k-200k 114 $17,630,000 $154,649 $2,716 2.89%
    $100,000 or less 58 $3,450,000 $59,483 $2,509 5.04%
    $600k-1MM 34 $23,850,000 $701,471 $4,500 3.24%

    2021 saw Pacific Service place emphasis on $200k-400k loans with 224 originations, totaling $65,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 203 $64,355,000 $317,020 $2,985 3.11%
    $150k-250k 165 $63,435,000 $384,455 $3,201 3.22%
    $75k-100k 92 $24,890,000 $270,543 $2,866 3.10%
    $50k-75k 58 $13,160,000 $226,897 $2,535 3.00%
    $250k+ 46 $20,050,000 $435,870 $3,321 3.14%
    $50k or less 32 $4,870,000 $152,188 $2,620 3.12%

    Pacific Service lent most frequently to those with incomes in the $100k-150k range, with 203 originations. The second most popular income band? $150k-250k, with 165 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 178 $55,590,000 $312,303 $2,848 2.97%
    30-36% 104 $34,160,000 $328,462 $3,090 3.12%
    <20% 73 $19,995,000 $273,904 $2,780 2.91%
    39% 25 $8,685,000 $347,400 $2,884 3.20%
    37% 24 $7,430,000 $309,583 $2,936 3.60%
    40% 24 $7,500,000 $312,500 $2,808 2.93%
    42% 22 $7,260,000 $330,000 $3,986 3.59%
    38% 19 $6,765,000 $356,053 $2,786 3.65%
    43% 18 $5,550,000 $308,333 $3,343 3.79%
    44% 18 $6,140,000 $341,111 $2,709 3.01%
    46% 16 $5,970,000 $373,125 $2,931 3.23%
    41% 16 $5,100,000 $318,750 $3,039 3.16%
    36% 13 $4,485,000 $345,000 $3,104 3.21%
    48% 11 $3,325,000 $302,273 $3,528 3.18%
    45% 10 $3,930,000 $393,000 $3,930 2.98%
    49% 10 $4,280,000 $428,000 $3,073 3.04%
    47% 9 $2,945,000 $327,222 $3,323 3.54%
    50-60% 5 $1,625,000 $325,000 $3,173 3.85%
    >60% 1 $25,000 $25,000 $0 5.00%

    Pacific Service lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 408 $127,600,000 $312,745 $2,916 3.11%
    Not provided 90 $29,690,000 $329,889 $3,099 3.29%
    Asian 41 $16,035,000 $391,098 $3,286 2.83%
    Black 42 $13,140,000 $312,857 $3,044 3.23%
    American Indian 7 $2,595,000 $370,714 $2,978 2.93%
    Native Hawaiian or Islander 3 $1,285,000 $428,333 $3,718 2.67%
    Asian Indian 3 $325,000 $108,333 $3,710 3.70%
    Filipino 2 $90,000 $45,000 $0 5.74%

    Approval Rates

    Total approvals of all applications
    92.16%

    Pacific Service has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.66%

    Pacific Service has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 25 $2,195,000 $87,800
    NA 571 $188,565,000 $330,236

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    596 $190,760,000 $320,067

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 111 $28,435,000 $256,171 $2,644 2.82%
    40-60% 183 $64,335,000 $351,557 $2,938 2.87%
    60-80% 185 $72,595,000 $392,405 $3,107 3.03%
    80-100% 43 $18,435,000 $428,721 $3,659 3.02%
    Under 20% 74 $6,960,000 $94,054 $2,637 4.56%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PACIFIC WESTERN BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 100.0%