Is Pacific Trust Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Pacific Trust Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Pacific Trust Mortgage nationally:
|Review Item||Pacific Trust Mortgage|
|Interest Rate||similar to other lenders (+0.05%)|
|Loan Related Closing Costs||similar to other lenders (-$109)|
|National Rate and Closing Cost Star Rating||(3.5)|
On average, Pacific Trust Mortgage’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 -$109. Overall, combining interest rates and closing costs we estimate that Pacific Trust Mortgage 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 Pacific Trust Mortgage, check out its website at: https://www.pacifictrustmortgage.com.
Pacific Trust 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 Pacific Trust Mortgage was most active in:
Pacific Trust 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, Pacific Trust Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
|New Purchase Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||+0.01%||+0.00%||+0.01%||+0.00%||+0.02%|
|Loan Related Closing Cost Difference||+$56||-$211||+$2||+$4||-$16|
|Cost Adjusted Rate Difference||+0.01%||-0.00%||+0.01%||+0.00%||+0.02%|
|National Star Rating|
|Interest Rate Difference||+0.09%||+0.03%||+0.04%||+0.01%|
|Loan Related Closing Cost Difference||-$234||-$184||+$70||-$82|
|Cost Adjusted Rate Difference||+0.08%||+0.02%||+0.04%||+0.01%|
|Average Star Rating|
As a summary, Pacific Trust Mortgage is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, Pacific Trust Mortgage is similar to other lenders for FHA, Jumbo and VA mortgage refinance. It is more expensive than other lenders for Conforming 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 Pacific Trust Mortgage:
Registered city and state: SAN LUIS OBISPO, CA, 93401
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 Pacific Trust 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.