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

Grand Island, NE

LEI: 254900IL7D0ACZ6YVF12

Tax ID: 47-0465799

5 stars - Updated: 3/3/24 - out of 5 stars, based on 15 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Home Federal Savings & Loan Association Of Grand Island is a smaller mortgage company specializing in Home Purchase and 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 by origination volume include: Grand Island, Lexington, Omaha, Hastings, and Lincoln among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Home Federal Savings & Loan Association Of Grand Island has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Home Federal Savings & Loan Association Of Grand Island 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.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.62% 3/3/24
30 Year Conventional Refi 6.45% 3/3/24
30 Year Cash-out Refi 6.80% 3/3/24
30 Year FHA Purchase 7.31% 3/3/24
30 Year VA Purchase 6.50% 3/3/24
30 Year USDA Purchase 6.72% 3/3/24
15 Year Conventional Purchase 6.40% 3/3/24
15 Year Conventional Refi 6.13% 3/3/24
15 Year Cash-out Refi 6.13% 3/3/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Home Federal Savings & Loan Association Of Grand Island Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Home Federal Savings & Loan Association Of Grand Island. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

231

Origination Dollar Volume (All Markets)

$41,325,000

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 mortgage rate was 4.75%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.01%.

Relative Fees (Closing Costs)

Home Federal Savings & Loan Association Of Grand Island's average total fees/closing costs for a 30 year fixed rate mortgage were $2,420.

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 $4,750.

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
GRAND ISLAND, NE (FHA|USDA|VA) 131 $21,805,000 $166,450 $1,499 4.94%
Lexington, NE (FHA|USDA|VA) 27 $4,465,000 $165,370 $2,765 5.08%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 6 $3,880,000 $646,667 $2,069 5.13%
Outside of Metro Areas 28 $3,830,000 $136,786 $2,077 5.08%
Hastings, NE (FHA|USDA|VA) 18 $3,150,000 $175,000 $2,144 4.43%
LINCOLN, NE (FHA|USDA|VA) 12 $2,660,000 $221,667 $3,460 4.73%
Kearney, NE (FHA|USDA|VA) 5 $765,000 $153,000 $2,297 5.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,964 4.00%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $245,000 $245,000 $2,142 5.25%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $165,000 $165,000 $2,055 3.75%
Beatrice, NE (FHA|USDA|VA) 1 $5,000 $5,000 $268 8.49%
Home Federal Savings & Loan Association Of Grand Island's top markets include Grand Island, Lexington, Omaha, Hastings, and Lincoln among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Home Federal Savings & Loan Association of Grand Island based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Five Points Bank
    Similarity Rank: 96
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 112
    Equitable Bank
    Similarity Rank: 119
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 180
    Security First Bank
    Similarity Rank: 224
    Union Bank and Trust Company
    Similarity Rank: 456
    West Gate Bank
    Similarity Rank: 732
    Pinnacle Bank
    Similarity Rank: 969
    CHARTER WEST BANK
    Similarity Rank: 1148

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 216 $38,750,000 $179,398 $1,715 4.95%
    USDA 6 $880,000 $146,667 $4,307 4.85%
    FHA 5 $775,000 $155,000 $5,973 4.78%
    VA 4 $920,000 $230,000 $5,606 4.75%

    For 2022, Home Federal Savings & Loan Association Of Grand Island's most frequently originated type of loan was Conventional, with 216 originations. Their 2nd most popular type was USDA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 115 $22,875,000 $198,913 $2,749 4.84%
    Cash Out Refi 47 $7,425,000 $157,979 $1,530 4.73%
    Refi 37 $9,135,000 $246,892 $1,278 4.36%
    Other 22 $1,340,000 $60,909 $398 6.43%
    Home Improvement 10 $550,000 $55,000 $487 5.92%

    For 2022, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan purpose was Home Purchase, with 115 originations. The 2nd most popular reason was Cash Out Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 120 $23,280,000 $194,000 $2,420 4.75%
    15 Year 39 $5,805,000 $148,846 $1,874 4.17%
    10 Year 20 $2,330,000 $116,500 $1,085 6.13%
    20 Year 17 $7,195,000 $423,235 $1,705 4.41%
    Other 16 $2,270,000 $141,875 $272 6.10%
    5 Year 15 $385,000 $25,667 $272 6.06%
    3 Year 4 $60,000 $15,000 $264 5.65%

    For 2022, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan duration was 30 Year, with 120 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 183 $27,895,000 $152,432
    $1k-2k 22 $4,270,000 $194,091
    $2k-3k 4 $600,000 $150,000
    $3k-4k 2 $480,000 $240,000
    $5k+ 1 $655,000 $655,000

    Home Federal Savings & Loan Association Of Grand Island's average total fees were $2,420, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 183 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 64 $10,700,000 $167,188
    3-4% 63 $14,585,000 $231,508
    4-5% 39 $8,115,000 $208,077
    6-7% 32 $4,030,000 $125,938
    2.5-3% 14 $2,790,000 $199,286
    7-8% 13 $835,000 $64,231
    Over 8% 4 $260,000 $65,000
    <2.5% 2 $10,000 $5,000

    During 2022, Home Federal Savings & Loan Association Of Grand Island's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 5-6%, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 85 $12,445,000 $146,412 $2,060 4.81%
    $100,000 or less 78 $3,950,000 $50,641 $988 5.36%
    $200k-400k 55 $14,945,000 $271,727 $2,618 4.65%
    $600k-1MM 6 $4,080,000 $680,000 $5,521 4.97%
    $400k-600k 5 $2,295,000 $459,000 $2,405 4.25%
    $1MM+ 2 $3,610,000 $1,805,000 $0 3.56%

    2022 saw Home Federal Savings & Loan Association Of Grand Island place emphasis on $100k-200k loans with 85 originations, totaling $12,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 63 $8,435,000 $133,889 $1,807 4.92%
    $100k-150k 42 $5,950,000 $141,667 $1,709 5.40%
    $75k-100k 42 $6,700,000 $159,524 $1,734 5.09%
    $50k or less 41 $4,145,000 $101,098 $1,831 4.55%
    $150k-250k 19 $5,805,000 $305,526 $1,970 4.44%
    $250k+ 10 $3,850,000 $385,000 $3,898 5.25%

    Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with incomes in the $50k-75k range, with 63 originations. The second most popular income band? $100k-150k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 52 $8,230,000 $158,269 $2,034 5.08%
    20-30% 47 $6,995,000 $148,830 $1,650 4.86%
    <20% 20 $2,780,000 $139,000 $1,744 4.64%
    37% 12 $2,410,000 $200,833 $2,493 4.67%
    38% 10 $1,550,000 $155,000 $1,681 4.05%
    41% 9 $1,275,000 $141,667 $2,014 5.06%
    39% 8 $1,100,000 $137,500 $2,510 4.64%
    >60% 7 $1,295,000 $185,000 $1,890 5.18%
    36% 7 $1,495,000 $213,571 $2,913 5.03%
    43% 7 $1,175,000 $167,857 $1,773 4.96%
    44% 7 $775,000 $110,714 $1,995 5.51%
    40% 6 $1,770,000 $295,000 $2,281 5.16%
    42% 6 $850,000 $141,667 $1,917 5.31%
    50-60% 5 $1,485,000 $297,000 $1,644 5.60%
    46% 5 $635,000 $127,000 $1,254 5.42%
    49% 4 $240,000 $60,000 $213 5.70%
    48% 2 $470,000 $235,000 $2,977 4.25%
    45% 2 $330,000 $165,000 $1,912 4.00%
    47% 1 $25,000 $25,000 $268 7.85%

    Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with DTI ratios of 30-36%, with 52 originations. The next most common DTI ratio? 20-30%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $32,550,000 $159,559 $1,872 4.97%
    Not applicable 14 $6,440,000 $460,000 $0 4.78%
    Not provided 8 $1,740,000 $217,500 $2,124 4.48%
    Asian 3 $345,000 $115,000 $1,833 4.50%
    Black 1 $145,000 $145,000 $3,628 6.25%
    American Indian 1 $105,000 $105,000 $1,592 4.00%

    Approval Rates

    Total approvals of all applications
    93.31%

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

    Pick Rate

    Approvals leading to origination
    86.15%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 231 $41,325,000 $178,896

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    231 $41,325,000 $178,896

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $3,985,000 $159,400 $1,217 5.48%
    40-60% 34 $5,270,000 $155,000 $1,758 4.31%
    60-80% 67 $14,005,000 $209,030 $1,932 4.60%
    80-100% 68 $15,690,000 $230,735 $2,913 4.84%
    Over 100% 4 $1,410,000 $352,500 $5,656 5.31%
    Under 20% 32 $940,000 $29,375 $271 6.04%