Is CalCon Mutual Mortgage LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at CalCon Mutual Mortgage LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.16%)
Loan Related Closing Costs: similar to average (+$78)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, CalCon Mutual Mortgage LLC originated 4010 mortgages, a national market share of 0.1%. It was most active in NM (0.7% market share), SC (0.5% market share), and NV (0.3% market share).

On average, CalCon Mutual Mortgage LLC’s interest rates were higher than those of comparable mortgages at other lenders (+0.16%).1The comparable mortgages control for CalCon Mutual Mortgage LLC’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $6077, which was similar to those of comparable mortgages at $5998, with a difference of +$78. Overall, we estimate that CalCon Mutual Mortgage LLC tends to be an expensive lender, with a cost-adjusted-rate difference of +0.17% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with CalCon Mutual Mortgage LLC.

CalCon Mutual Mortgage LLC originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from CalCon Mutual Mortgage LLC compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference +0.10% +0.19% +0.21% +0.24%
Loan related Closing Cost Difference +$574 -$3 -$170 -$965
Cost Adjusted Rate Difference +0.15% +0.19% +0.20% +0.15%

Based on the table above, CalCon Mutual Mortgage LLC is more expensive than other lenders for Conforming, FHA, USDA and VA purchase mortgages.

Mortgage Refinancing from CalCon Mutual Mortgage LLC compared to other lenders

Conforming
Interest Rate Difference +0.01%
Loan Related Closing Cost Difference +$422
Cost Adjusted Rate Difference +0.03%

Based on the table above, CalCon Mutual Mortgage LLC is similar to other lenders for Conforming mortgage refinance.

Other information about CalCon Mutual Mortgage LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: San Diego, CA, 92108
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Footnotes   [ + ]

1. The comparable mortgages control for CalCon Mutual Mortgage LLC’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.