JMAC Mortgage Interest Rate and Cost Review

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

Review ItemJMAC
Interest Ratesimilar to other lenders (+0.03%)
Loan Related Closing Costslower than other lenders (-$272)
National Rate and Closing Cost Star Rating(3.5)

On average, JMAC’s interest rates were similar to those of other lenders (+0.03%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$272. Overall, combining interest rates and closing costs we estimate that JMAC 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 JMAC, check out its website at:

JMAC’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 JMAC was most active in:

  1. Los Angeles, CA
  2. San Francisco, CA
  3. Phoenix, AZ
  4. San Diego, CA
  5. San Jose, CA

JMAC’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, JMAC 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 MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.05%-0.04%+0.18%-0.02%-0.01%
Loan Related Closing Cost Difference-$110-$573+$19-$143-$57
Cost Adjusted Rate Difference+0.05%-0.07%+0.18%-0.03%-0.01%
National Star Rating(3.5)(4)(2.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.02%-0.01%+0.21%-0.00%-0.05%
Loan Related Closing Cost Difference-$331-$556+$273-$5-$302
Cost Adjusted Rate Difference+0.01%-0.03%+0.21%-0.00%-0.06%
Average Star Rating(3.5)(3.5)(2.5)(3.5)(4)

As a summary, JMAC is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, USDA and VA purchase mortgages. It is more expensive than other lenders for Jumbo purchase mortgages. For refinancing, JMAC is cheap for VA mortgage refinance. It is similar to other lenders for Conforming, FHA and USDA 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 JMAC:

Registered name: Jmac
Registered city and state: Santa Ana, CA, 92705
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 JMAC’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.