Scenic Oaks Funding Mortgage Interest Rate and Cost Review

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

Review ItemScenic Oaks Funding
Interest Ratesimilar to other lenders (-0.04%)
Loan Related Closing Costssimilar to other lenders (+$25)
National Rate and Closing Cost Star Rating(3.5)

On average, Scenic Oaks Funding’s interest rates were similar to those of other lenders (-0.04%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$25. Overall, combining interest rates and closing costs we estimate that Scenic Oaks Funding 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 Scenic Oaks Funding, check out its website at:

Scenic Oaks Funding’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 Scenic Oaks Funding was most active in:

  1. Modesto, CA
  2. Stockton, CA
  3. Fresno, CA
  4. Sacramento, CA
  5. San Francisco, CA

Scenic Oaks Funding’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, Scenic Oaks Funding 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 MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.03%-0.09%+0.06%-0.04%+0.01%
Loan Related Closing Cost Difference+$243-$81+$231-$50+$82
Cost Adjusted Rate Difference-0.01%-0.10%+0.06%-0.04%+0.01%
National Star Rating(3.5)(4)(3)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.02%-0.05%+0.01%+0.00%
Loan Related Closing Cost Difference-$171+$81-$19-$186
Cost Adjusted Rate Difference-0.04%-0.05%+0.01%-0.01%
Average Star Rating(3.5)(3.5)(3.5)(3.5)

As a summary, Scenic Oaks Funding 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 mortgages, Scenic Oaks Funding is similar to other lenders for Conforming, FHA, 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 Scenic Oaks Funding:

Registered name: Scenic Oaks Funding
Registered city and state: MODESTO, CA, 95350
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 Scenic Oaks Funding’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.