Pacific Private Money Mortgage Rates, Fees & Info
Novato, CALEI: 984500F0KF3MD44AF596
Tax ID: 27-4684932
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Mortgage Data
Review & Overview
Pacific Private Money is a smaller mortgage company specializing in Home Purchase and Refi loans. Pacific Private Money has a high proportion of conventional loans.Pacific Private Money 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. They typically have relatively high rates.
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Originations
105Origination Dollar Volume (All Markets)
$72,845,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 105 | $72,845,000 | $693,762 | $0 | 9.80% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 103 | $72,075,000 | $699,757 | $0 | 9.81% |
| HELOC | 2 | $770,000 | $385,000 | n/a | 9.25% |
For 2018, Pacific Private Money's most frequently originated type of loan was Conventional, with 103 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2018, Pacific Private Money's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 35 originations.
Loan Duration/Length
For 2018, Pacific Private Money's most frequently cited loan duration was Other, with 70 originations. The 2nd most popular length was 1 Year, with 25 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 36 | $33,010,000 | $916,944 |
Pacific Private Money's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 36 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 104 | $72,200,000 | $694,231 |
During 2018, Pacific Private Money's average interest rate for loans was 10.25%, while their most frequently originated rate bucket for loans was Over 8%, with 104 originations.
Loan Sizing
2018 saw Pacific Private Money place emphasis on $600k-1MM loans with 24 originations, totaling $18,610,000 in origination value.
Applicant Income
Pacific Private Money lent most frequently to those with incomes in the $50k or less range, with 79 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Pacific Private Money lent most frequently to those with DTI ratios of >60%, with 22 originations. The next most common DTI ratio? <20%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.67%
Pacific Private Money has an average approval rate.
Pick Rate
Approvals leading to origination70.48%
Pacific Private Money has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10895.0 | 1 | $285,000 | $285,000 |
| 11140.0 | 1 | $275,000 | $275,000 |
| 11195.0 | 1 | $295,000 | $295,000 |
| 11590.0 | 1 | $225,000 | $225,000 |
| 14101.52 | 1 | $385,000 | $385,000 |
| 14245.0 | 1 | $705,000 | $705,000 |
| 14350.0 | 1 | $585,000 | $585,000 |
| 14995.0 | 1 | $255,000 | $255,000 |
| 15645.0 | 1 | $425,000 | $425,000 |
| 15690.0 | 1 | $565,000 | $565,000 |
| 15990.0 | 1 | $455,000 | $455,000 |
| 18309.34 | 1 | $405,000 | $405,000 |
| 19095.0 | 1 | $835,000 | $835,000 |
| 20681.0 | 1 | $895,000 | $895,000 |
| 20790.0 | 1 | $915,000 | $915,000 |
| 21245.0 | 1 | $625,000 | $625,000 |
| 23302.5 | 1 | $835,000 | $835,000 |
| 23590.0 | 1 | $705,000 | $705,000 |
| 23795.0 | 1 | $715,000 | $715,000 |
| 25495.0 | 1 | $1,155,000 | $1,155,000 |
| 26148.95 | 1 | $965,000 | $965,000 |
| 26551.0 | 1 | $815,000 | $815,000 |
| 26646.0 | 1 | $1,255,000 | $1,255,000 |
| 28095.0 | 1 | $1,285,000 | $1,285,000 |
| 30495.0 | 1 | $1,405,000 | $1,405,000 |
| 30565.0 | 1 | $1,055,000 | $1,055,000 |
| 30635.0 | 1 | $935,000 | $935,000 |
| 30812.0 | 1 | $1,205,000 | $1,205,000 |
| 34335.0 | 1 | $1,075,000 | $1,075,000 |
| 35655.0 | 1 | $1,125,000 | $1,125,000 |
| 38495.0 | 1 | $1,735,000 | $1,735,000 |
| 39620.0 | 1 | $2,115,000 | $2,115,000 |
| 58295.0 | 1 | $2,815,000 | $2,815,000 |
| 5855.0 | 1 | $115,000 | $115,000 |
| 61215.0 | 1 | $3,355,000 | $3,355,000 |
| 8945.0 | 1 | $215,000 | $215,000 |
| NA | 69 | $39,835,000 | $577,319 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $255,000 | $255,000 |
| Single Family (1-4 Units):Site-Built | 104 | $72,590,000 | $697,981 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Pacific Residential Mortgage | VA mortgage | Closing on a mortgage | 1 | 100.0% |