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 loans. Pacific Private Money has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.)Pacific Private Money has an above average approval rate when compared to the average across all lenders. They typically have relatively high rates.
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Originations
156Origination Dollar Volume (All Markets)
$125,320,000Top 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 | 156 | $125,320,000 | $803,333 | $0 | 9.57% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 155 | $125,065,000 | $806,871 | $0 | 9.56% |
FHA | 1 | $255,000 | $255,000 | $0 | 10.75% |
For 2020, Pacific Private Money's most frequently originated type of loan was Conventional, with 155 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2020, Pacific Private Money's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.
Loan Duration/Length
For 2020, Pacific Private Money's most frequently cited loan duration was Other, with 117 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+ | 1 | $1,465,000 | $1,465,000 |
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 1 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
Over 8% | 153 | $121,695,000 | $795,392 |
6-7% | 2 | $1,970,000 | $985,000 |
7-8% | 1 | $1,655,000 | $1,655,000 |
During 2020, Pacific Private Money's average interest rate for loans was 9.72%, while their most frequently originated rate bucket for loans was Over 8%, with 153 originations.
Loan Sizing
2020 saw Pacific Private Money place emphasis on $1MM+ loans with 45 originations, totaling $76,815,000 in origination value.
Applicant Income
Pacific Private Money lent most frequently to those with incomes in the $50k or less range, with 105 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Pacific Private Money lent most frequently to those with DTI ratios of >60%, with 26 originations. The next most common DTI ratio? <20%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Pacific Private Money has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 156 | $125,320,000 | $803,333 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 156 | $125,320,000 | $803,333 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Pacific Mortgage Planning LLC | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |