Home Federal Savings & Loan Association Of Grand Island Mortgage Rates, Fees & Info

Grand Island, NE

LEI: 254900IL7D0ACZ6YVF12

Tax ID: 47-0465799

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Home Federal Savings & Loan Association Of Grand Island is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Home Federal Savings & Loan Association Of Grand Island has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Grand Island, Lexington, Lincoln, Hastings, and Omaha among others. Home Federal Savings & Loan Association Of Grand Island has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Home Federal Savings & Loan Association Of Grand Island is typically a low fee lendor.


Originations

446

Origination Dollar Volume (All Markets)

$101,590,000

Employee count

73

Awards

Home Federal Savings & Loan Association of Grand Island 30 Year Conventional Loans gold Home Federal Savings & Loan Association of Grand Island 30 Year Conventional Loans silver Home Federal Savings & Loan Association of Grand Island 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Home Federal Savings & Loan Association Of Grand Island's average 30 year fixed rate mortgage of loans were 3.18%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.03%.

Relative Fees

Home Federal Savings & Loan Association Of Grand Island's average total fees for a 30 year fixed rate mortgage are $1,913.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
GRAND ISLAND, NE (FHA|USDA|VA) 268 $60,480,000 $225,672 $1,529 3.29%
Lexington, NE (FHA|USDA|VA) 66 $20,140,000 $305,152 $1,791 3.45%
LINCOLN, NE (FHA|USDA|VA) 22 $5,680,000 $258,182 $1,657 3.40%
Outside of Metro Areas 30 $4,270,000 $142,333 $1,662 3.20%
Hastings, NE (FHA|USDA|VA) 27 $3,545,000 $131,296 $1,633 3.02%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 15 $2,925,000 $195,000 $1,792 3.42%
Kearney, NE (FHA|USDA|VA) 9 $2,015,000 $223,889 $2,016 3.32%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $905,000 $905,000 $7,707 3.75%
FORT COLLINS, CO (FHA|USDA|VA) 2 $610,000 $305,000 $1,085 3.50%
Columbus, NE (FHA|USDA|VA) 1 $205,000 $205,000 $1,562 3.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $2,284 2.88%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $2,238 3.38%
Hays, KS (FHA|USDA|VA) 1 $175,000 $175,000 $2,304 3.00%
Maryville, MO (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.75%
Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.63%

Home Federal Savings & Loan Association Of Grand Island's top markets include Grand Island, Lexington, Lincoln, Hastings, and Omaha among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 423 $98,635,000 $233,180 $1,589 3.34%
USDA 18 $2,120,000 $117,778 $3,888 2.58%
VA 3 $455,000 $151,667 $2,049 2.75%
FHA 2 $380,000 $190,000 $5,715 2.88%

For the 2021 period, Home Federal Savings & Loan Association Of Grand Island's most frequently originated loan type of loans were Conventional, with 423 originations. Their 2nd most popular type is USDA, with 18 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 187 $37,205,000 $198,957 $1,353 3.10%
Home Purchase 147 $27,565,000 $187,517 $2,228 3.16%
Cash Out Refi 89 $30,975,000 $348,034 $1,635 3.26%
Other 21 $5,775,000 $275,000 $529 6.04%
Home Improvement 2 $70,000 $35,000 $169 6.43%

For the 2021, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan purpose of loans were Refi, with 187 originations. The 2nd most popular reason of loans were Home Purchase, with 147 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 198 $38,310,000 $193,485 $1,913 3.18%
15 Year 135 $19,085,000 $141,370 $1,528 2.80%
20 Year 51 $8,775,000 $172,059 $1,524 3.34%
10 Year 25 $1,705,000 $68,200 $858 4.67%
Other 25 $32,895,000 $1,315,800 $687 4.88%
5 Year 8 $540,000 $67,500 $221 5.20%
3 Year 4 $280,000 $70,000 $104 4.18%

For the 2021, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan length of loans were 30 Year, with 198 originations. The 2nd most popular length of loans were 15 Year, with 135 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 383 $59,685,000 $155,836
$1k-2k 13 $2,795,000 $215,000
$2k-3k 2 $540,000 $270,000
$3k-4k 2 $400,000 $200,000

$1,913 of loans were Home Federal Savings & Loan Association Of Grand Island's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 383 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 170 $62,750,000 $369,118
2.5-3% 169 $25,775,000 $152,515
<2.5% 59 $8,445,000 $143,136
4-5% 19 $3,555,000 $187,105
5-6% 9 $315,000 $35,000
6-7% 8 $180,000 $22,500
7-8% 8 $390,000 $48,750
Over 8% 3 $85,000 $28,333

During 2021, Home Federal Savings & Loan Association Of Grand Island's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 170 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 215 $31,405,000 $146,070 $1,635 3.01%
$100,000 or less 123 $7,835,000 $63,699 $1,131 3.89%
$200k-400k 88 $23,270,000 $264,432 $2,040 3.19%
$400k-600k 11 $5,285,000 $480,455 $2,200 3.12%
$600k-1MM 5 $3,825,000 $765,000 $5,299 4.03%
$1MM+ 4 $29,970,000 $7,492,500 $0 3.24%

2021 saw Home Federal Savings & Loan Association Of Grand Island place emphasis on $100k-200k loans with 215 originations, totaling $31,405,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 101 $13,665,000 $135,297 $1,625 3.13%
$100k-150k 97 $17,595,000 $181,392 $1,579 3.22%
$75k-100k 88 $13,540,000 $153,864 $1,592 3.39%
$50k or less 84 $8,430,000 $100,357 $1,384 3.40%
$150k-250k 31 $7,455,000 $240,484 $2,025 3.32%
$250k+ 15 $4,485,000 $299,000 $2,474 3.19%

Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with incomes in the $50k-75k range, with 101 originations. The second most popular income band? $100k-150k, with 97 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 112 $16,060,000 $143,393 $1,546 3.23%
30-36% 96 $16,120,000 $167,917 $1,659 3.39%
<20% 55 $7,295,000 $132,636 $1,542 3.14%
39% 18 $3,540,000 $196,667 $1,910 3.04%
37% 15 $2,255,000 $150,333 $1,753 3.08%
38% 14 $2,080,000 $148,571 $1,347 3.38%
42% 13 $1,865,000 $143,462 $1,608 3.31%
41% 13 $1,355,000 $104,231 $1,372 3.64%
45% 10 $1,640,000 $164,000 $1,922 2.84%
36% 10 $1,810,000 $181,000 $1,556 2.91%
43% 10 $1,390,000 $139,000 $1,753 3.13%
40% 9 $1,305,000 $145,000 $1,704 2.97%
>60% 8 $2,200,000 $275,000 $1,941 3.38%
44% 7 $1,485,000 $212,143 $1,883 2.91%
50-60% 6 $1,590,000 $265,000 $1,950 4.95%
46% 5 $675,000 $135,000 $1,281 3.10%
47% 4 $690,000 $172,500 $1,510 3.00%
48% 3 $575,000 $191,667 $1,601 2.83%
49% 2 $510,000 $255,000 $1,668 3.44%

Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with DTI ratios of 20-30%, with 112 originations. The next most common DTI ratio? 30-36%, with 96 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 399 $62,875,000 $157,581 $1,603 3.28%
Not applicable 28 $36,060,000 $1,287,857 $0 3.78%
Not provided 14 $1,880,000 $134,286 $1,968 3.22%
Black 2 $340,000 $170,000 $2,238 3.00%
American Indian 2 $320,000 $160,000 $1,792 3.25%
Asian 1 $115,000 $115,000 $1,577 2.50%

Approval Rates

Total approvals of all applications
92.93%

Home Federal Savings & Loan Association Of Grand Island has an average approval rate.

Pick Rate

Approvals leading to origination
87.77%

Home Federal Savings & Loan Association Of Grand Island has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
225.0 1 $65,000 $65,000
NA 445 $101,525,000 $228,146

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
446 $101,590,000 $227,780

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 42 $3,550,000 $84,524 $1,013 3.87%
40-60% 86 $10,940,000 $127,209 $1,469 2.95%
60-80% 160 $59,500,000 $371,875 $1,698 3.22%
80-100% 129 $25,625,000 $198,643 $2,116 3.12%
Over 100% 1 $595,000 $595,000 $0 3.80%
Under 20% 27 $1,205,000 $44,630 $438 4.97%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Home Federal Savings and Loan Association of Grand Island 3419 West State Street Grand Island, NE 68803 Full Service B&M $82,525
Home Federal Savings and Loan Association of Grand Island 201 W 7th Street Lexington, NE 68850 Full Service B&M $21,076
Home Federal Savings and Loan Association of Grand Island 221 South Locust Street Grand Island, NE 68801 Full Service B&M $117,387
Home Federal Savings and Loan Association of Grand Island 3311 West Stolley Park Road Grand Island, NE 68803 Full Service B&M $77,541
Home Federal Savings and Loan Association of Grand Island 423 Garfield Holdrege, NE 68949 Full Service B&M $9,013
Home Federal Savings and Loan Association of Grand Island 454 Central Avenue Superior, NE 68978 Full Service B&M $8,586
Home Federal Savings and Loan Association of Grand Island 715 West 4th Hastings, NE 68901 Full Service B&M $11,361

For 2021, Home Federal Savings & Loan Association Of Grand Island had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $12,929
Net interest income $11,823
Total noninterest income $3,074
Gross Fiduciary activities income $0
Service charges on deposit accounts $539
Trading account gains and fees $0
Additional Noninterest Income $2,535
Pre-tax net operating income $2,632
Securities gains (or losses, -) $0
Income before extraordinary items $2,196
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $2,196
Minority interest net income $0
Net income $2,196
Sale, conversion, retirement of capital stock, net $0
Net operating income $2,196

Home Federal Savings & Loan Association Of Grand Island's gross interest income from loans was $12,929,000.
Home Federal Savings & Loan Association Of Grand Island's net interest income from loans was $11,823,000.
Home Federal Savings & Loan Association Of Grand Island's fee based income from loans was $539,000.
Home Federal Savings & Loan Association Of Grand Island's net income from loans was $2,196,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,106
Provision for credit losses $568
Total noninterest expense $11,697
Salaries and employee benefits $6,146
Premises and equipment expense $1,109
Additional noninterest expense $4,442
Applicable income taxes $436
Net charge-offs $19
Cash dividends $0

Home Federal Savings & Loan Association Of Grand Island's interest expense for loans was $1,106,000.
Home Federal Savings & Loan Association Of Grand Island's payroll and benefits expense were $6,146,000.
Home Federal Savings & Loan Association Of Grand Island's property, plant and equipment expenses $1,109,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $354,958
Deposits held in domestic offices $354,958
Deposits by Individuals, partnerships, and corporations $353,130
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $1,827
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $242,771
Demand deposits $193,923
Nontransaction accounts $112,186
Money market deposit accounts (MMDAs) $62,465
Other savings deposits (excluding MMDAs) $5,001
Total time deposits $44,721
Total time and savings deposits $161,034
Noninterest-bearing deposits $71,769
Interest-bearing deposits $283,189
Retail deposits $351,510
IRAs and Keogh plan accounts $17,089
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $402,951
Cash & Balances due from depository institutions $25,674
Interest-bearing balances $19,306
Total securities $70,649
Federal funds sold & reverse repurchase $0
Net loans and leases $293,296
Loan and leases loss allowance $4,919
Trading account assets $0
Bank premises and fixed assets $4,269
Other real estate owned $0
Goodwill and other intangibles $673
All other assets $8,390

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $402,951
Total Liabilities $363,415
Total deposits $354,958
Interest-bearing deposits $283,189
Deposits held in domestic offices $354,958
% insured (estimated) $80
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $8,457

Issued Loan Types

Type Value (in 000's)
Net loans and leases $293,296
Loan and leases loss allowance $4,919
Total loans and leases (domestic) $298,215
All real estate loans $243,874
Real estate loans in domestic offices $243,874
Construction and development loans $23,088
Residential 1-4 family construction $5,939
Other construction, all land development and other land $17,149
Loans secured by nonfarm nonresidential properties $84,733
Nonfarm nonresidential secured by owner-occupied properties $28,531
Commercial real estate & other non-farm, non-residential $56,202
Multifamily residential real estate $23,599
1-4 family residential loans $101,900
Farmland loans $10,554
Loans held in foreign offices $0
Farm loans $8,836
Commercial and industrial loans $28,808
To non-U.S. addressees $0
Loans to individuals $13,270
Credit card loans $0
Related Plans $289
Consumer Auto Loans $5,707
Other loans to individuals $7,274
All other loans & leases $3,426
Loans to foreign governments and official institutions $0
Other loans $3,426
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Home Federal Savings & Loan Association of Grand Island had $293,296,000 of loans outstanding in 2021. $243,874,000 of loans were in real estate loans. $23,088,000 of loans were in development loans. $23,599,000 of loans were in multifamily mortgage loans. $101,900,000 of loans were in 1-4 family mortgage loans. $8,836,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,707,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 108 $24,042 $222,611
Nonfarm, nonresidential loans - <$100k 33 $1,400 $42,424
Nonfarm, nonresidential loans - $100-250k 33 $3,994 $121,030
Nonfarm, nonresidential loans - $250k-1MM 42 $18,648 $444,000
Commercial & Industrial, US addressed loans - <$1MM 185 $17,816 $96,303
Commercial & Industrial, US addressed loans - <$100k 124 $3,090 $24,919
Commercial & Industrial, US addressed loans - $100-250k 29 $3,329 $114,793
Commercial & Industrial, US addressed loans - $250k-1MM 32 $11,397 $356,156
Farmland loans - <$1MM 47 $6,527 $138,872
Farmland loans - <$100k 15 $448 $29,867
Farmland loans - $100-250k 15 $1,852 $123,467
Farmland loans - $250k-1MM 17 $4,227 $248,647
Agriculture operations loans - <$1MM 57 $3,195 $56,053
Agriculture operations loans - <$100k 43 $1,281 $29,791
Agriculture operations loans - $100-250k 11 $1,088 $98,909
Agriculture operations loans - $250k-1MM 3 $826 $275,333