Is Sierra Pacific Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Sierra Pacific Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Sierra Pacific Mortgage nationally:
|Review Item||Sierra Pacific Mortgage|
|Interest Rate||similar to other lenders (+0.03%)|
|Loan Related Closing Costs||similar to other lenders (-$1)|
|National Rate and Closing Cost Star Rating||(3.5)|
On average, Sierra Pacific Mortgage’s interest rates were similar to those of other lenders (+0.03%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$1. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Sierra Pacific Mortgage, check out its website at: https://www.sierrapacificmortgage.com.
Sierra Pacific Mortgage’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 Sierra Pacific Mortgage was most active in:
In addition, Sierra Pacific Mortgage is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Hidden Valley Lake, CA, for FHA mortgages
Sierra Pacific Mortgage’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, Sierra Pacific Mortgage originated Conforming, FHA, Jumbo, USDA 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 Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||+0.08%||-0.05%||+0.04%||-0.02%||+0.02%|
|Loan Related Closing Cost Difference||+$241||-$136||+$170||+$25||-$76|
|Cost Adjusted Rate Difference||+0.10%||-0.05%||+0.04%||-0.01%||+0.02%|
|National Star Rating|
|Interest Rate Difference||+0.02%||-0.02%||+0.06%||-0.00%||+0.00%|
|Loan Related Closing Cost Difference||-$137||-$327||+$229||+$16||-$204|
|Cost Adjusted Rate Difference||+0.01%||-0.03%||+0.06%||+0.00%||-0.00%|
|Average Star Rating|
As a summary, Sierra Pacific Mortgage is cheap for FHA purchase mortgages. It is similar to other lenders for Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing, Sierra Pacific Mortgage is similar to other lenders for Conforming, FHA, USDA and VA mortgage refinance. It is more expensive than other lenders for Jumbo 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 Sierra Pacific Mortgage:
Registered city and state: Folsom, CA, 95630
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 Sierra Pacific Mortgage’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.