SALINAS Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Salinas averaged
6.88%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.81% and
one month ago for the week of 2024-10-03, the
average rate was 6.21%.
Salinas's average rate one year ago was 7.45%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.88%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Salinas 30 Year Fixed Rate | 2024-11-07 | 6.88% |
| Salinas 30 Year Fixed Rate Refi | 2024-11-07 | 6.88% |
| Salinas 15 Year Fixed Rate | 2024-11-07 | 6.1% |
| Salinas 15 Year Fixed Rate Refi | 2024-11-07 | 6.5% |
| Salinas 30 Year FHA | 2024-11-07 | 5.84% |
| Salinas 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Salinas 30 Year USDA | 2024-11-07 | 6.48% |
| Salinas 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Salinas 30 Year VA | 2024-11-07 | 5.75% |
| Salinas 30 Year VA Refi | 2024-11-07 | 6.24% |
SALINAS Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the SALINAS, CA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
SALINAS Average Closing Costs & Other Stats
SALINAS, CA's 159 lenders originated 3,071
loans during 2023. The total origination value was $1,701,655,000, with an average loan value of
$554,105.
SALINAS's average closing costs are $6,865.
The top SALINAS lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
211 loans originated. Their average total fees are
$11,360, which is $1,439
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee SALINAS lenders (with over 10 loans originated) are
Shea Mortgage Inc. ($2,602), Mechanics Bank ($4,826), Morgan Stanley Private Bank ($6,064), Bank of America ($6,351) and Wells Fargo Bank ($6,433).
The lowest rate SALINAS lenders (with over 10 loans originated) are
Morgan Stanley Private Bank (5.47%), Citibank (5.50%), BMO Harris Bank (5.89%), Bank of America (5.93%) and U.S. Bank (6.16%).
SALINAS, CA Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $341,800,000 | $205,385,000 | -39.9% | 12.1% |
| QUICKEN LOANS, LLC | $206,985,000 | $86,720,000 | -58.1% | 5.1% |
| U.S. Bank | $97,870,000 | $84,545,000 | -13.6% | 5.0% |
| Bank of America | $209,120,000 | $69,665,000 | -66.7% | 4.1% |
| JPMorgan Chase Bank | $148,570,000 | $64,445,000 | -56.6% | 3.8% |
| CROSSCOUNTRY MORTGAGE, LLC | $72,075,000 | $63,420,000 | -12.0% | 3.7% |
| MACKILLIE INCORPORATED | $28,740,000 | $62,260,000 | 116.6% | 3.7% |
| Wells Fargo Bank | $185,195,000 | $57,485,000 | -69.0% | 3.4% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $51,800,000 | $46,610,000 | -10.0% | 2.7% |
| S1L, Inc. | $58,660,000 | $42,075,000 | -28.3% | 2.5% |
| LOANDEPOT.COM, LLC | $63,050,000 | $38,960,000 | -38.2% | 2.3% |
| SUMMIT FUNDING, INC. | $42,255,000 | $36,540,000 | -13.5% | 2.1% |
| Citibank | $33,155,000 | $34,100,000 | 2.9% | 2.0% |
| Century Mortgage Company DBA Century Lending Company | $2,375,000 | $33,730,000 | 1,320.2% | 2.0% |
| Morgan Stanley Private Bank | $58,720,000 | $25,680,000 | -56.3% | 1.5% |
| Mechanics Bank | $51,825,000 | $24,790,000 | -52.2% | 1.5% |
| Shea Mortgage Inc. | $22,610,000 | $23,505,000 | 4.0% | 1.4% |
| RESIDENTIAL BANCORP | $12,560,000 | $21,125,000 | 68.2% | 1.2% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $45,510,000 | $20,450,000 | -55.1% | 1.2% |
| GUARANTEED RATE, INC. | $31,110,000 | $19,935,000 | -35.9% | 1.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $27,215,000 | $18,180,000 | -33.2% | 1.1% |
| OCMBC, INC. | $4,420,000 | $18,040,000 | 308.1% | 1.1% |
| PENNYMAC LOAN SERVICES, LLC | $17,085,000 | $18,015,000 | 5.4% | 1.1% |
| First Republic Bank | $220,900,000 | $17,490,000 | -92.1% | 1.0% |
| BMO Harris Bank | $8,220,000 | $16,220,000 | 97.3% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $19,635,000 | $15,710,000 | -20.0% | 0.9% |
| Fremont Bank | $34,070,000 | $15,410,000 | -54.8% | 0.9% |
| BAY | $21,725,000 | $14,930,000 | -31.3% | 0.9% |
| Paramount Residential Mortgage Group, Inc. | $15,605,000 | $12,985,000 | -16.8% | 0.8% |
| MASON MCDUFFIE MORTGAGE CORPORATION | $37,720,000 | $12,160,000 | -67.8% | 0.7% |
| Charles Schwab Bank, SSB | $28,850,000 | $11,560,000 | -59.9% | 0.7% |
| THE GOLDEN 1 | $20,710,000 | $11,470,000 | -44.6% | 0.7% |
| Raymond James Bank | $4,710,000 | $11,320,000 | 140.3% | 0.7% |
| GUARANTEED RATE AFFINITY, LLC | $22,460,000 | $11,025,000 | -50.9% | 0.6% |
| PNC Bank | $21,135,000 | $10,660,000 | -49.6% | 0.6% |
| BAY-VALLEY MORTGAGE GROUP | $10,570,000 | n/a | 0.6% | |
| CMG MORTGAGE, INC. | $19,195,000 | $10,015,000 | -47.8% | 0.6% |
| Commerce Home Mortgage, Inc. | $20,250,000 | $9,725,000 | -52.0% | 0.6% |
| City National Bank | $15,855,000 | $9,680,000 | -38.9% | 0.6% |
| BNY Mellon | $3,275,000 | $8,510,000 | 159.8% | 0.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $26,195,000 | $7,195,000 | -72.5% | 0.4% |
| HOMEXPRESS MORTGAGE CORP. | $11,690,000 | $7,030,000 | -39.9% | 0.4% |
| STAR ONE CREDIT UNION | $7,350,000 | $6,920,000 | -5.9% | 0.4% |
| Axos Bank | $6,925,000 | $6,215,000 | -10.3% | 0.4% |
| Luther Burbank Savings | $5,480,000 | $6,125,000 | 11.8% | 0.4% |
| Hometown Equity Mortgage, LLC | $5,650,000 | $6,005,000 | 6.3% | 0.4% |
| Bank of Stockton | $5,760,000 | n/a | 0.3% | |
| AMWEST FUNDING CORP. | $3,275,000 | $5,735,000 | 75.1% | 0.3% |
| NEWREZ LLC | $13,725,000 | $5,610,000 | -59.1% | 0.3% |
| Comerica Bank | $15,585,000 | $5,555,000 | -64.4% | 0.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $12,105,000 | $5,470,000 | -54.8% | 0.3% |
| ORANGE COUNTY'S CREDIT UNION | $5,325,000 | n/a | 0.3% | |
| Zions Bank | $2,115,000 | $5,270,000 | 149.2% | 0.3% |
| ENVOY MORTGAGE, LTD | $39,390,000 | $5,145,000 | -86.9% | 0.3% |
| GUILD MORTGAGE COMPANY | $11,180,000 | $5,040,000 | -54.9% | 0.3% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $12,695,000 | $5,020,000 | -60.5% | 0.3% |
| Citadel Servicing Corporation | $4,520,000 | $4,780,000 | 5.8% | 0.3% |
| SUN WEST MORTGAGE COMPANY, INC. | $4,595,000 | $4,690,000 | 2.1% | 0.3% |
| Truist | $4,645,000 | $4,690,000 | 1.0% | 0.3% |
| UBS Bank USA | $26,420,000 | $4,605,000 | -82.6% | 0.3% |
| LENDINGHOME FUNDING CORPORATION | $905,000 | $4,580,000 | 406.1% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $6,795,000 | $4,530,000 | -33.3% | 0.3% |
| SCHOOLSFIRST | $1,520,000 | $4,460,000 | 193.4% | 0.3% |
| MOUNTAIN WEST FINANCIAL, INC. | $14,265,000 | $4,455,000 | -68.8% | 0.3% |
| FINANCE OF AMERICA REVERSE LLC | $41,565,000 | $4,365,000 | -89.5% | 0.3% |
| ACADEMY MORTGAGE CORPORATION | $3,205,000 | $4,265,000 | 33.1% | 0.3% |
| Mortgage Research Center, LLC | $7,720,000 | $3,835,000 | -50.3% | 0.2% |
| First-Citizens Bank & Trust Company | $9,605,000 | $3,765,000 | -60.8% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $5,830,000 | $3,705,000 | -36.4% | 0.2% |
| PATELCO | $2,370,000 | $3,635,000 | 53.4% | 0.2% |
| American Mortgage & Equity Consultants, Inc. | $3,625,000 | n/a | 0.2% | |
| BROKER SOLUTIONS, INC. | $12,395,000 | $3,555,000 | -71.3% | 0.2% |
| ARC HOME LLC | $7,085,000 | $3,540,000 | -50.0% | 0.2% |
| Figure Lending LLC | $2,845,000 | $3,435,000 | 20.7% | 0.2% |
| STANFORD Federal Credit Union | $4,970,000 | $3,430,000 | -31.0% | 0.2% |
| A&D Mortgage LLC | $2,330,000 | $3,210,000 | 37.8% | 0.2% |
| LONGBRIDGE FINANCIAL, LLC | $5,145,000 | $3,055,000 | -40.6% | 0.2% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $1,790,000 | $3,045,000 | 70.1% | 0.2% |
| KINECTA | $7,305,000 | $3,005,000 | -58.9% | 0.2% |
| FUNDLOANS CAPITAL | $2,755,000 | n/a | 0.2% | |
| NEXERA HOLDING LLC | $7,555,000 | $2,665,000 | -64.7% | 0.2% |
| Carrington Mortgage Services, LLC | $5,945,000 | $2,560,000 | -56.9% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $15,700,000 | $2,540,000 | -83.8% | 0.1% |
| Provident Credit Union | $5,105,000 | $2,540,000 | -50.2% | 0.1% |
| GOOGAIN, INC. | $505,000 | $2,520,000 | 399.0% | 0.1% |
| Bethpage Federal Credit Union | $645,000 | $2,515,000 | 289.9% | 0.1% |
| NMSI, INC. | $1,125,000 | $2,480,000 | 120.4% | 0.1% |
| Discover Bank | $2,340,000 | $2,430,000 | 3.8% | 0.1% |
| JMAC LENDING, INC. | $505,000 | $2,415,000 | 378.2% | 0.1% |
| NEW WAVE LENDING GROUP INC | $775,000 | $2,395,000 | 209.0% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $1,860,000 | $2,050,000 | 10.2% | 0.1% |
| HomeTrust Bank | $505,000 | $2,040,000 | 304.0% | 0.1% |
| FREEDOM MORTGAGE CORPORATION | $14,440,000 | $2,020,000 | -86.0% | 0.1% |
| HighTechLending Inc | $1,135,000 | $2,015,000 | 77.5% | 0.1% |
| VAL-CHRIS INVESTMENTS, INC. | $2,015,000 | n/a | 0.1% | |
| Citizens Bank | $1,050,000 | $2,005,000 | 91.0% | 0.1% |
| Goldman Sachs Bank USA | $3,460,000 | $2,005,000 | -42.1% | 0.1% |
| DEEPHAVEN MORTGAGE LLC | $1,370,000 | $1,995,000 | 45.6% | 0.1% |
| ALLIANT CREDIT UNION | $2,885,000 | $1,955,000 | -32.2% | 0.1% |
| SPRING EQ, LLC | $7,085,000 | $1,835,000 | -74.1% | 0.1% |
| The Federal Savings Bank | $4,000,000 | $1,835,000 | -54.1% | 0.1% |
| Heritage Bank | $1,820,000 | n/a | 0.1% | |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $635,000 | $1,815,000 | 185.8% | 0.1% |
| Tri Counties Bank | $1,530,000 | $1,815,000 | 18.6% | 0.1% |
| 21ST MORTGAGE CORPORATION | $1,360,000 | $1,750,000 | 28.7% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $1,710,000 | $1,700,000 | -0.6% | 0.1% |
| LOGIX FEDERAL CREDIT UNION | $1,945,000 | $1,660,000 | -14.7% | 0.1% |
| Northpointe Bank | $4,340,000 | $1,635,000 | -62.3% | 0.1% |
| The Loan Store, Inc. | $1,595,000 | n/a | 0.1% | |
| BAY EQUITY LLC | $16,600,000 | $1,590,000 | -90.4% | 0.1% |
| MK LENDING CORP. | $525,000 | $1,475,000 | 181.0% | 0.1% |
| CARDINAL FINANCIAL | $11,210,000 | $1,465,000 | -86.9% | 0.1% |
| REDWOOD | $305,000 | $1,445,000 | 373.8% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $5,985,000 | $1,380,000 | -76.9% | 0.1% |
| Inwood National Bank | $1,875,000 | $1,375,000 | -26.7% | 0.1% |
| FIRST COMMUNITY MORTGAGE, INC. | $505,000 | $1,365,000 | 170.3% | 0.1% |
| HSBC BANK USA, NATIONAL ASSOCIATION | $305,000 | $1,365,000 | 347.5% | 0.1% |
| ALAMEDA MORTGAGE CORPORATION | $535,000 | $1,350,000 | 152.3% | 0.1% |
| AUGUSTA FINANCIAL, INC. | $2,840,000 | $1,335,000 | -53.0% | 0.1% |
| Coastal Community Bank | $1,310,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $2,095,000 | $1,310,000 | -37.5% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $1,200,000 | $1,290,000 | 7.5% | 0.1% |
| LENDSURE MORTGAGE CORP. | $3,140,000 | $1,270,000 | -59.6% | 0.1% |
| ZILLOW HOME LOANS, LLC | $1,635,000 | $1,265,000 | -22.6% | 0.1% |
| Franklin Loan Corporation | $1,260,000 | n/a | 0.1% | |
| V.I.P. MORTGAGE, INC. | $1,255,000 | n/a | 0.1% | |
| Logan Finance Corporation | $1,250,000 | n/a | 0.1% | |
| Flagstar Bank, FSB | $17,045,000 | $1,210,000 | -92.9% | 0.1% |
| Keystone Funding, Inc. | $1,180,000 | n/a | 0.1% | |
| MICHIGAN MUTUAL, INC. | $1,120,000 | $1,180,000 | 5.4% | 0.1% |
| LENOX FINANCIAL MORTGAGE CORPORATION | $740,000 | $1,165,000 | 57.4% | 0.1% |
| SeaTrust Mortgage Company | $1,165,000 | n/a | 0.1% | |
| COASTAL FUNDING SLC, INC. | $2,145,000 | $1,150,000 | -46.4% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $5,900,000 | $1,135,000 | -80.8% | 0.1% |
| VISION ONE MORTGAGE, INC. | $950,000 | $1,135,000 | 19.5% | 0.1% |
| NATIONS DIRECT MORTGAGE, LLC | $2,635,000 | $1,050,000 | -60.2% | 0.1% |
| Equity Prime Mortgage LLC | $680,000 | $1,040,000 | 52.9% | 0.1% |
| EQUITY WAVE LENDING, INC. | $1,035,000 | n/a | 0.1% | |
| San Mateo Credit Union | $1,005,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $5,155,000 | $1,000,000 | -80.6% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $195,000 | $995,000 | 410.3% | 0.1% |
| BNC National Bank | $2,325,000 | $985,000 | -57.6% | 0.1% |
| AMERICAN HERITAGE LENDING, INC. | $970,000 | n/a | 0.1% | |
| The Northern Trust Company | $945,000 | n/a | 0.1% | |
| NETWORK CAPITAL FUNDING CORPORATION | $2,210,000 | $930,000 | -57.9% | 0.1% |
| OAKTREE FUNDING CORP. | $565,000 | $910,000 | 61.1% | 0.1% |
| TOWNE MORTGAGE COMPANY | $640,000 | $910,000 | 42.2% | 0.1% |
| American Riviera Bank | $4,460,000 | $905,000 | -79.7% | 0.1% |
| THE POLICE Credit Union | $190,000 | $895,000 | 371.1% | 0.1% |
| Cornerstone First Mortgage, Inc | $890,000 | n/a | 0.1% | |
| AMCAP MORTGAGE, LTD. | $3,950,000 | $870,000 | -78.0% | 0.1% |
| Firefighters First Federal Credit Union | $790,000 | $865,000 | 9.5% | 0.1% |
| First National Bank of America | $395,000 | $840,000 | 112.7% | 0.0% |
| KD CAPITAL MORTGAGE CORPORATION | $1,555,000 | $830,000 | -46.6% | 0.0% |
| Golden Empire Mortgage, Inc. | $2,465,000 | $825,000 | -66.5% | 0.0% |
| PLANET HOME LENDING, LLC | $4,465,000 | $815,000 | -81.7% | 0.0% |
| CLEARPATH LENDING | $2,470,000 | $805,000 | -67.4% | 0.0% |
| Performance Financial, Inc. | $805,000 | n/a | 0.0% | |
| First Federal Bank | $785,000 | n/a | 0.0% | |
| DATA MORTGAGE, INC. | $2,805,000 | $765,000 | -72.7% | 0.0% |
| 5TH STREET CAPITAL, INC. | $2,690,000 | $755,000 | -71.9% | 0.0% |
| East West Bank | $1,250,000 | $755,000 | -39.6% | 0.0% |
| American Airlines Federal Credit Union | $745,000 | n/a | 0.0% | |
| ONY GLO, INC. | $2,170,000 | $745,000 | -65.7% | 0.0% |
| FIRST TECHNOLOGY | $3,040,000 | $735,000 | -75.8% | 0.0% |
| Union Savings Bank | $735,000 | n/a | 0.0% | |
| ALTITUDE FINANCIAL CORPORATION | $725,000 | n/a | 0.0% | |
| Pinnacle Bank | $5,890,000 | $725,000 | -87.7% | 0.0% |
| Plains Commerce Bank | $725,000 | n/a | 0.0% | |
| NBKC BANK | $1,530,000 | $720,000 | -52.9% | 0.0% |
| AEROSPACE FEDERAL CREDIT UNION | $695,000 | n/a | 0.0% | |
| General Mortgage Capital Corporation | $4,065,000 | $695,000 | -82.9% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $1,440,000 | $675,000 | -53.1% | 0.0% |
| Ally Bank | $2,655,000 | $670,000 | -74.8% | 0.0% |
| Sierra Pacific Mortgage Company, Inc. | $8,430,000 | $665,000 | -92.1% | 0.0% |
| CHURCHILL MORTGAGE CORPORATION | $2,150,000 | $655,000 | -69.5% | 0.0% |
| HOME APPROVALS DIRECT, INC. | $1,420,000 | $655,000 | -53.9% | 0.0% |
| Ameris Bank | $855,000 | $625,000 | -26.9% | 0.0% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $2,410,000 | $625,000 | -74.1% | 0.0% |
| Quontic Bank | $625,000 | n/a | 0.0% | |
| NOVA FINANCIAL & INVESTMENT CORPORATION | $820,000 | $615,000 | -25.0% | 0.0% |
| Operating Engineers Local Union #3 | $385,000 | $610,000 | 58.4% | 0.0% |
| TECHNOLOGY | $4,820,000 | $610,000 | -87.3% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $605,000 | n/a | 0.0% | |
| Toyota Financial Savings Bank | $6,930,000 | $605,000 | -91.3% | 0.0% |
| Northwest Farm Credit Services, FLCA | $600,000 | n/a | 0.0% | |
| Bank of England | $775,000 | $575,000 | -25.8% | 0.0% |
| DIGNIFIED HOME LOANS, LLC | $4,785,000 | $575,000 | -88.0% | 0.0% |
| First Bank | $965,000 | $575,000 | -40.4% | 0.0% |
| Banner Bank | $1,325,000 | $565,000 | -57.4% | 0.0% |
| PremierOne Credit Union | $220,000 | $565,000 | 156.8% | 0.0% |
| Educational Employees Credit Union | $1,340,000 | $555,000 | -58.6% | 0.0% |
| UNCLE Credit Union | $555,000 | n/a | 0.0% | |
| LADERA LENDING, INC. | $2,305,000 | $550,000 | -76.1% | 0.0% |
| AMERICAN FINANCIAL NETWORK, INC. | $545,000 | n/a | 0.0% | |
| MEMBER FIRST MORTGAGE, LLC | $1,150,000 | $525,000 | -54.3% | 0.0% |
| Prosperity Home Mortgage, LLC | $1,190,000 | $525,000 | -55.9% | 0.0% |
| The Central Trust Bank | $525,000 | n/a | 0.0% | |
| LAKEVIEW LOAN SERVICING, LLC | $2,965,000 | $515,000 | -82.6% | 0.0% |
| Evolve Bank & Trust | $505,000 | n/a | 0.0% | |
| Stifel Bank and Trust | $455,000 | $505,000 | 11.0% | 0.0% |
| VALLEY STRONG CREDIT UNION | $805,000 | $505,000 | -37.3% | 0.0% |
| Service Federal Credit Union | $540,000 | $500,000 | -7.4% | 0.0% |
| GUARANTY HOME MORTGAGE CORPORATION | $1,185,000 | $485,000 | -59.1% | 0.0% |
| BETTER MORTGAGE CORPORATION | $4,650,000 | $465,000 | -90.0% | 0.0% |
| Financial Partners Credit Union | $215,000 | $465,000 | 116.3% | 0.0% |
| LAND HOME FINANCIAL SERVICES, INC. | $3,955,000 | $465,000 | -88.2% | 0.0% |
| Bank-Fund Staff Federal Credit Union | $445,000 | n/a | 0.0% | |
| Greenbox Loans, Inc. | $590,000 | $445,000 | -24.6% | 0.0% |
| LANTZMAN MANAGEMENT, INC. | $2,150,000 | $425,000 | -80.2% | 0.0% |
| PACIFIC SERVICE | $1,610,000 | $425,000 | -73.6% | 0.0% |
| GEORGIA'S OWN | $2,350,000 | $415,000 | -82.3% | 0.0% |
| California Coast Credit Union | $255,000 | $410,000 | 60.8% | 0.0% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $240,000 | $395,000 | 64.6% | 0.0% |
| AmeriHome Mortgage Company, LLC | $1,960,000 | $345,000 | -82.4% | 0.0% |
| UNITED | $345,000 | n/a | 0.0% | |
| BECKAM FUNDING CORP. | $545,000 | $325,000 | -40.4% | 0.0% |
| Monterey Credit Union | $5,035,000 | $320,000 | -93.6% | 0.0% |
| SEA WEST COAST GUARD FEDERAL CREDIT UNION | $2,545,000 | $320,000 | -87.4% | 0.0% |
| AMERICAN INTERNET MORTGAGE, INC. | $645,000 | $305,000 | -52.7% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $1,040,000 | $305,000 | -70.7% | 0.0% |
| United States Senate Federal Credit Union | $305,000 | n/a | 0.0% | |
| MERIWEST | $1,980,000 | $290,000 | -85.4% | 0.0% |
| Connexus Credit Union | $280,000 | n/a | 0.0% | |
| Alaska USA Federal Credit Union | $175,000 | $275,000 | 57.1% | 0.0% |
| First City Credit Union | $255,000 | n/a | 0.0% | |
| HomeStreet Bank | $2,785,000 | $255,000 | -90.8% | 0.0% |
| MORIA DEVELOPMENT, INC. | $425,000 | $255,000 | -40.0% | 0.0% |
| Watermark Capital, Inc. | $1,145,000 | $255,000 | -77.7% | 0.0% |
| SESLOC | $190,000 | $250,000 | 31.6% | 0.0% |
| LOANPAL, LLC | $1,240,000 | $245,000 | -80.2% | 0.0% |
| DIGITAL Federal Credit Union | $240,000 | n/a | 0.0% | |
| SANTA CLARA COUNTY | $215,000 | $235,000 | 9.3% | 0.0% |
| GTE Federal Credit Union | $890,000 | $230,000 | -74.2% | 0.0% |
| CIS Financial Services, Inc. | $205,000 | n/a | 0.0% | |
| RBC Bank, (Georgia) | $205,000 | n/a | 0.0% | |
| AXIA FINANCIAL, LLC | $155,000 | n/a | 0.0% | |
| SAFE CREDIT UNION | $150,000 | n/a | 0.0% | |
| CommonWealth Central Credit Union | $105,000 | n/a | 0.0% | |
| USC Credit Union | $105,000 | n/a | 0.0% | |
| INTELLILOAN, INC. | $940,000 | $75,000 | -92.0% | 0.0% |
| SANTA CRUZ COMMUNITY CREDIT UNION | $75,000 | n/a | 0.0% | |
| FIRST ENTERTAINMENT | $425,000 | $65,000 | -84.7% | 0.0% |
| SAN FRANCISCO FIRE CREDIT UNION | $255,000 | $55,000 | -78.4% | 0.0% |
| TRAVIS CREDIT UNION | $455,000 | $25,000 | -94.5% | 0.0% |
SALINAS's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 12.1% market share. In second place, with 5.1%, is QUICKEN LOANS, LLC, having originated $86,720,000 in loans. In third place, with 5.0%, is U.S. Bank, having originated $84,545,000 in loans. In fourth place, with 4.1%, is Bank of America, having originated $69,665,000 in loans. In fifth place, with 3.8%, is JPMorgan Chase Bank, having originated $64,445,000 in loans.
SALINAS, CA Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 93210 | Salinas, CA MSA | $1,380 | $1,460 | $1,780 | $2,520 | $2,780 |
| 93426 | Salinas, CA MSA | $1,380 | $1,460 | $1,780 | $2,520 | $2,780 |
| 93450 | Salinas, CA MSA | $1,780 | $1,850 | $2,260 | $3,200 | $3,500 |
| 93451 | Salinas, CA MSA | $1,620 | $1,790 | $2,330 | $3,230 | $3,580 |
| 93461 | Salinas, CA MSA | $1,520 | $1,710 | $2,250 | $3,100 | $3,450 |
| 93901 | Salinas, CA MSA | $2,050 | $2,130 | $2,600 | $3,680 | $4,030 |
| 93902 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93905 | Salinas, CA MSA | $1,860 | $1,930 | $2,350 | $3,330 | $3,640 |
| 93906 | Salinas, CA MSA | $2,300 | $2,400 | $2,920 | $4,140 | $4,520 |
| 93907 | Salinas, CA MSA | $2,240 | $2,330 | $2,840 | $4,020 | $4,400 |
| 93908 | Salinas, CA MSA | $3,170 | $3,290 | $4,010 | $5,680 | $6,210 |
| 93912 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93915 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93920 | Salinas, CA MSA | $2,280 | $2,380 | $2,910 | $4,120 | $4,510 |
| 93921 | Salinas, CA MSA | $3,000 | $3,120 | $3,800 | $5,380 | $5,890 |
| 93922 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93923 | Salinas, CA MSA | $2,760 | $2,870 | $3,500 | $4,960 | $5,420 |
| 93924 | Salinas, CA MSA | $2,560 | $2,660 | $3,240 | $4,590 | $5,020 |
| 93925 | Salinas, CA MSA | $1,380 | $1,460 | $1,780 | $2,520 | $2,780 |
| 93926 | Salinas, CA MSA | $1,670 | $1,730 | $2,110 | $2,990 | $3,270 |
| 93927 | Salinas, CA MSA | $1,920 | $1,990 | $2,430 | $3,440 | $3,760 |
| 93928 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93930 | Salinas, CA MSA | $1,620 | $1,680 | $2,050 | $2,900 | $3,170 |
| 93932 | Salinas, CA MSA | $1,440 | $1,500 | $1,830 | $2,590 | $2,840 |
| 93933 | Salinas, CA MSA | $2,080 | $2,160 | $2,630 | $3,730 | $4,070 |
| 93940 | Salinas, CA MSA | $2,830 | $2,940 | $3,590 | $5,090 | $5,560 |
| 93942 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93943 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93944 | Salinas, CA MSA | $2,120 | $2,200 | $2,680 | $3,800 | $4,150 |
| 93950 | Salinas, CA MSA | $2,890 | $3,000 | $3,660 | $5,190 | $5,670 |
| 93953 | Salinas, CA MSA | $3,170 | $3,290 | $4,010 | $5,680 | $6,210 |
| 93954 | Salinas, CA MSA | $1,410 | $1,470 | $1,790 | $2,540 | $2,780 |
| 93955 | Salinas, CA MSA | $2,450 | $2,540 | $3,100 | $4,390 | $4,800 |
| 93960 | Salinas, CA MSA | $1,800 | $1,870 | $2,280 | $3,230 | $3,530 |
| 93962 | Salinas, CA MSA | $3,170 | $3,290 | $4,010 | $5,680 | $6,210 |
| 95004 | Salinas, CA MSA | $1,820 | $1,960 | $2,450 | $3,480 | $3,950 |
| 95012 | Salinas, CA MSA | $1,690 | $1,760 | $2,140 | $3,030 | $3,320 |
| 95039 | Salinas, CA MSA | $1,630 | $1,700 | $2,070 | $2,930 | $3,210 |
| 95076 | Salinas, CA MSA | $1,940 | $2,180 | $2,830 | $3,600 | $4,020 |
2022 Average & Median Rent Data Statistics
SALINAS, CA average 1BR rent: $2,192, median: $2,200
SALINAS, CA average 2BR rent: $2,686, median: $2,680
SALINAS, CA average 3BR rent: $3,792, median: $3,800
SALINAS, CA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,729 | $1,231,515,000 | $712,270 |
| Cash Out Refi | 447 | $171,275,000 | $383,166 |
| Home Improvement | 346 | $66,380,000 | $191,850 |
| Other | 290 | $107,880,000 | $372,000 |
| Refi | 258 | $124,180,000 | $481,318 |
| NA | 1 | $425,000 | $425,000 |
Salinas's most frequently cited loan purpose was Home Purchase, with 1,729 originations. The 2nd most popular reason was Cash Out Refi, with 447 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 986 | $587,220,000 | $595,558 |
| Over 8% | 697 | $231,575,000 | $332,245 |
| 7-8% | 663 | $362,855,000 | $547,293 |
| 5-6% | 597 | $430,635,000 | $721,332 |
| 4-5% | 68 | $69,840,000 | $1,027,059 |
| <2.5% | 33 | $4,245,000 | $128,636 |
| 3-4% | 10 | $4,970,000 | $497,000 |
| 2.5-3% | 10 | $1,420,000 | $142,000 |
During 2023, Salinas's most frequently originated rate bucket was 6-7%, with 986 originations.
Loan Sizing (SALINAS, CA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $600k-1000k | 751 | $551,275,000 | $734,055 |
| $400k-600k | 710 | $356,010,000 | $501,423 |
| $200k-400k | 559 | $165,265,000 | $295,644 |
| $100k-200k | 379 | $51,565,000 | $136,055 |
| $100,000 or less | 361 | $21,735,000 | $60,208 |
| $Over $1MM | 311 | $555,805,000 | $1,787,154 |
SALINAS's loan sizing saw the bucket of loans from $600k-1000k with 751 originations, totaling $551,275,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 849 | $552,265,000 | $650,489 |
| Under 20% | 718 | $95,300,000 | $132,730 |
| 60-80% | 672 | $613,670,000 | $913,199 |
| 20-40% | 393 | $139,255,000 | $354,338 |
| 40-60% | 390 | $261,220,000 | $669,795 |
| Over 100% | 24 | $19,380,000 | $807,500 |
SALINAS's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 849 originations, totaling $552,265,000 in origination value.