JMJ Financial Mortgage Interest Rate and Cost Review

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

Review ItemJMJ Financial
Interest Ratesimilar to other lenders (+0.07%)
Loan Related Closing Costssimilar to other lenders (+$117)
National Rate and Closing Cost Star Rating(3)

On average, JMJ Financial’s interest rates were similar to those of other lenders (+0.07%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$117. Overall, combining interest rates and closing costs we estimate that JMJ Financial tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars.

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

JMJ Financial’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 JMJ Financial was most active in:

  1. Los Angeles, CA
  2. San Diego, CA
  3. San Francisco, CA
  4. Boise City, ID
  5. Bakersfield, CA

JMJ Financial’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, JMJ Financial 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+0.07%-0.03%+0.09%+0.01%
Loan Related Closing Cost Difference+$449+$24+$309+$464
Cost Adjusted Rate Difference+0.09%-0.03%+0.10%+0.03%
National Star Rating(3)(3.5)(3)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.10%-0.00%+0.14%+0.04%
Loan Related Closing Cost Difference-$160-$254+$438-$16
Cost Adjusted Rate Difference+0.09%-0.01%+0.14%+0.03%
Average Star Rating(3)(3.5)(3)(3.5)

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

Registered name: JMJ Financial Group Inc
Registered city and state: Aliso Viejo, CA, 92656
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 JMJ Financial’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.