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 and Cash Out Refi loans. Home Federal Savings And Loan Association Of Niles has a high proportion of conventional loans. Their top markets by origination volume include: Youngstown, Ocean City, and Cleveland among others. We have data for 3 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 a low 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 about average rates.
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Originations
23Origination Dollar Volume (All Markets)
$5,955,000Top 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 |
|---|---|---|---|---|---|
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 20 | $5,100,000 | $255,000 | $1,963 | 4.51% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $5,082 | 4.38% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,311 | 4.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $5,955,000 | $258,913 | $2,492 | 4.50% |
For 2019, Home Federal Savings And Loan Association Of Niles's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
For 2019, Home Federal Savings And Loan Association Of Niles's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Refi, with 5 originations.
Loan Duration/Length
For 2019, Home Federal Savings And Loan Association Of Niles's most frequently cited loan duration was 30 Year, with 9 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 9 | $725,000 | $80,556 |
| $1k-2k | 2 | $800,000 | $400,000 |
Home Federal Savings And Loan Association Of Niles's average total fees were $2,761, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 10 | $1,460,000 | $146,000 |
| 3-4% | 2 | $140,000 | $70,000 |
During 2019, Home Federal Savings And Loan Association Of Niles's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 10 originations.
Loan Sizing
2019 saw Home Federal Savings And Loan Association Of Niles place emphasis on $100,000 or less loans with 15 originations, totaling $875,000 in origination value.
Applicant Income
Home Federal Savings And Loan Association Of Niles lent most frequently to those with incomes in the $50k-75k range, with 3 originations. The second most popular income band? $100k-150k, with 2 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 5 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 9 | $4,235,000 | $470,556 | $0 | 0.00% |
| White | 14 | $1,720,000 | $122,857 | $2,492 | 4.50% |
Approval Rates
Total approvals of all applications96.72%
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 origination95.65%
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 | 23 | $5,955,000 | $258,913 |