Home Federal Savings And Loan Association Of Niles Mortgage Rates, Fees & Info
Niles, OHLEI: 254900BKU8W7ACVJRW27
Tax ID: 34-0295420
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Mortgage Data
Review & Overview
Home Federal Savings And Loan Association Of Niles is a smaller mortgage company specializing in Home Purchase loans. Home Federal Savings And Loan Association Of Niles has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Youngstown, Hilton Head Island, North Port, and Toledo among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Home Federal Savings And Loan Association Of Niles has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Home Federal Savings And Loan Association Of Niles is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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Originations
49Origination Dollar Volume (All Markets)
$15,115,000Relative Rate
Home Federal Savings And Loan Association Of Niles's average 30 year fixed mortgage rate was
6.6%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.12%.
Relative Fees (Closing Costs)
Home Federal Savings And Loan Association Of Niles's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,086.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 31 | $9,035,000 | $291,452 | $7,661 | 6.64% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 10 | $1,830,000 | $183,000 | $2,967 | 6.35% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,285,000 | $1,285,000 | $26,984 | 5.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $19,277 | 6.25% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $10,645 | 6.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $11,291 | 5.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,969 | 6.75% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,661 | 5.88% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,976 | 5.88% |
| Salem, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,621 | 6.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Home Federal Savings and Loan Association of Niles based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 465
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 48 | $14,860,000 | $309,583 | $7,433 | 6.50% |
| VA | 1 | $255,000 | $255,000 | $7,814 | 7.13% |
For 2023, Home Federal Savings And Loan Association Of Niles's most frequently originated type of loan was Conventional, with 48 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2023, Home Federal Savings And Loan Association Of Niles's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Home Improvement, with 11 originations.
Loan Duration/Length
For 2023, Home Federal Savings And Loan Association Of Niles's most frequently cited loan duration was 30 Year, with 41 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Home Federal Savings And Loan Association Of Niles's average total fees were $8,086, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 32 | $8,590,000 | $268,438 |
| 5-6% | 10 | $4,870,000 | $487,000 |
| 7-8% | 4 | $820,000 | $205,000 |
| 4-5% | 2 | $380,000 | $190,000 |
| Over 8% | 1 | $455,000 | $455,000 |
During 2023, Home Federal Savings And Loan Association Of Niles's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 32 originations.
Loan Sizing
2023 saw Home Federal Savings And Loan Association Of Niles place emphasis on $200k-400k loans with 18 originations, totaling $5,220,000 in origination value.
Applicant Income
Home Federal Savings And Loan Association Of Niles lent most frequently to those with incomes in the $250k+ range, with 14 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
Home Federal Savings And Loan Association Of Niles lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Home Federal Savings And Loan Association Of Niles has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.96%
Home Federal Savings And Loan Association Of Niles has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 49 | $15,115,000 | $308,469 |