Franklin Loan Center Mortgage Interest Rate and Cost Review

Is Franklin Loan Center a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Franklin Loan Center to those of other lenders for a comparable set of borrowers. Here is our review of Franklin Loan Center nationally:

Review ItemFranklin Loan Center
Interest Ratesimilar to other lenders (+0.05%)
Loan Related Closing Costssimilar to other lenders (+$43)
National Rate and Closing Cost Star Rating(3.5)

On average, Franklin Loan Center’s interest rates were similar to those of other lenders (+0.05%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$43. Overall, combining interest rates and closing costs we estimate that Franklin Loan Center tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Franklin Loan Center, check out its website at:

Franklin Loan Center’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Franklin Loan Center was most active in:

  1. Los Angeles, CA
  2. San Diego, CA
  3. Las Vegas, NV
  4. Phoenix, AZ
  5. San Francisco, CA

Franklin Loan Center’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Franklin Loan Center originated Conforming, FHA, Jumbo and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference+0.03%+0.05%+0.27%+0.10%
Loan Related Closing Cost Difference+$84+$446+$699-$17
Cost Adjusted Rate Difference+0.02%+0.07%+0.28%+0.10%
National Star Rating(3.5)(3)(2)(3)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.04%+0.03%+0.21%+0.11%
Loan Related Closing Cost Difference-$294+$133+$296-$7
Cost Adjusted Rate Difference+0.03%+0.04%+0.22%+0.10%
Average Star Rating(3.5)(3.5)(2.5)(3)

As a summary, Franklin Loan Center is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for FHA, Jumbo and VA purchase mortgages. For refinancing, Franklin Loan Center is similar to other lenders for Conforming and FHA mortgage refinance. It is more expensive than other lenders for Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Franklin Loan Center:

Registered name: Franklin Loan Center
Registered city and state: PALM DESERT, CA, 92260
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Franklin Loan Center’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.