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

Grand Island, NE

LEI: 254900IL7D0ACZ6YVF12

Tax ID: 47-0465799

5 stars - Updated: 11/17/24 - out of 5 stars, based on 13 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Home Federal Savings & Loan Association Of Grand Island is a smaller mortgage company specializing in Home Purchase loans. Home Federal Savings & Loan Association Of Grand Island has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Grand Island, Hastings, Lincoln, Kearney, and Omaha among others. We have data for 12 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 relatively high 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.62% 11/17/24
    30 Year Conventional Refi 6.45% 11/17/24
    30 Year Cash-out Refi 6.80% 11/17/24
    30 Year FHA Purchase 7.31% 11/17/24
    30 Year VA Purchase 6.50% 11/17/24
    30 Year USDA Purchase 6.72% 11/17/24
    15 Year Conventional Purchase 6.40% 11/17/24
    15 Year Conventional Refi 6.13% 11/17/24
    15 Year Cash-out Refi 6.13% 11/17/24
    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

    166

    Origination Dollar Volume (All Markets)

    $25,140,000

    Awards

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

    Relative Rate

    Home Federal Savings & Loan Association Of Grand Island's average 30 year fixed mortgage rate was 6.73%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.25%.

    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 $2,773.

    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
    GRAND ISLAND, NE (FHA|USDA|VA) 79 $12,525,000 $158,544 $1,569 7.36%
    Outside of Metro Areas 26 $2,610,000 $100,385 $1,482 7.01%
    Hastings, NE (FHA|USDA|VA) 23 $2,605,000 $113,261 $1,970 7.30%
    LINCOLN, NE (FHA|USDA|VA) 10 $2,320,000 $232,000 $2,773 6.99%
    Kearney, NE (FHA|USDA|VA) 5 $1,425,000 $285,000 $2,818 7.02%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 9 $1,295,000 $143,889 $2,332 7.46%
    Lexington, NE (FHA|USDA|VA) 8 $1,060,000 $132,500 $2,526 7.29%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $810,000 $405,000 $6,357 6.56%
    Spearfish, SD (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.50%
    RAPID CITY, SD (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.50%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.75%
    North Platte, NE (FHA|USDA|VA) 1 $95,000 $95,000 $0 8.75%
    Home Federal Savings & Loan Association Of Grand Island's top markets include Grand Island, Hastings, Lincoln, Kearney, and Omaha among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Dakota (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.

    Exchange Bank
    Similarity Rank: 20
    Home Federal Savings & Loan Association of Grand Island
    Similarity Rank: 48
    Five Points Bank
    Similarity Rank: 90
    CHARTER WEST BANK
    Similarity Rank: 1015
    Pinnacle Bank
    Similarity Rank: 1034
    West Gate Bank
    Similarity Rank: 1080
    Mortgage Research Center, LLC
    Similarity Rank: 1836
    First National Bank of Omaha
    Similarity Rank: 2112
    U.S. Bank
    Similarity Rank: 4145
    MORIA DEVELOPMENT, INC.
    Similarity Rank: 4191

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 164 $24,880,000 $151,707 $1,840 7.27%
    FHA 1 $185,000 $185,000 $5,583 6.50%
    USDA 1 $75,000 $75,000 $0 6.88%

    For 2023, Home Federal Savings & Loan Association Of Grand Island's most frequently originated type of loan was Conventional, with 164 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 87 $16,635,000 $191,207 $2,634 6.72%
    Home Improvement 25 $1,275,000 $51,000 $448 8.05%
    Cash Out Refi 21 $2,655,000 $126,429 $1,854 7.41%
    Refi 17 $3,285,000 $193,235 $2,153 7.45%
    Other 16 $1,290,000 $80,625 $966 8.61%

    For 2023, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Home Improvement, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 73 $16,545,000 $226,644 $2,773 6.73%
    Other 22 $2,790,000 $126,818 $323 8.36%
    20 Year 21 $3,395,000 $161,667 $2,343 7.42%
    10 Year 19 $695,000 $36,579 $619 6.75%
    5 Year 16 $580,000 $36,250 $249 8.35%
    15 Year 11 $1,085,000 $98,636 $2,028 7.42%
    3 Year 4 $50,000 $12,500 $264 7.93%

    For 2023, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan duration was 30 Year, with 73 originations. The 2nd most popular length was Other, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 105 $13,705,000 $130,524
    $1k-2k 17 $2,645,000 $155,588
    $2k-3k 8 $1,910,000 $238,750
    $4k-5k 2 $890,000 $445,000
    $5k+ 2 $1,110,000 $555,000
    $3k-4k 1 $295,000 $295,000

    Home Federal Savings & Loan Association Of Grand Island's average total fees were $2,773, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 105 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 56 $11,730,000 $209,464
    7-8% 51 $7,895,000 $154,804
    Over 8% 40 $2,140,000 $53,500
    5-6% 12 $3,330,000 $277,500
    <2.5% 5 $25,000 $5,000
    4-5% 2 $20,000 $10,000

    During 2023, Home Federal Savings & Loan Association Of Grand Island's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 73 $3,135,000 $42,945 $705 7.67%
    $100k-200k 48 $6,810,000 $141,875 $2,386 7.10%
    $200k-400k 34 $9,430,000 $277,353 $2,517 6.82%
    $400k-600k 9 $4,365,000 $485,000 $5,506 6.71%
    $600k-1MM 2 $1,400,000 $700,000 $765 6.44%

    2023 saw Home Federal Savings & Loan Association Of Grand Island place emphasis on $100,000 or less loans with 73 originations, totaling $3,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $7,210,000 $171,667 $1,821 7.62%
    $50k-75k 30 $2,530,000 $84,333 $1,412 6.92%
    $150k-250k 25 $5,185,000 $207,400 $2,111 7.44%
    $75k-100k 22 $3,420,000 $155,455 $2,261 6.78%
    $50k or less 21 $1,455,000 $69,286 $1,325 7.24%
    $250k+ 6 $2,300,000 $383,333 $3,929 6.77%

    Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 24 $2,980,000 $124,167 $1,942 7.26%
    20-30% 22 $3,610,000 $164,091 $1,686 7.07%
    <20% 17 $1,445,000 $85,000 $1,235 6.91%
    44% 12 $1,820,000 $151,667 $1,098 7.44%
    43% 9 $1,095,000 $121,667 $1,416 6.82%
    41% 8 $1,140,000 $142,500 $1,998 7.86%
    50-60% 8 $1,390,000 $173,750 $2,170 8.25%
    38% 7 $985,000 $140,714 $1,677 7.39%
    37% 7 $1,205,000 $172,143 $2,004 6.53%
    >60% 7 $1,805,000 $257,857 $3,560 7.44%
    47% 6 $1,120,000 $186,667 $2,075 7.06%
    39% 4 $900,000 $225,000 $3,520 7.19%
    45% 3 $355,000 $118,333 $2,308 6.25%
    40% 3 $735,000 $245,000 $2,319 7.79%
    46% 3 $425,000 $141,667 $1,939 6.54%
    48% 2 $230,000 $115,000 $1,514 8.18%
    49% 2 $540,000 $270,000 $2,899 7.81%
    36% 1 $255,000 $255,000 $2,167 6.88%

    Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with DTI ratios of 30-36%, with 24 originations. The next most common DTI ratio? 20-30%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 141 $21,505,000 $152,518 $1,883 7.23%
    Not applicable 20 $3,040,000 $152,000 $0 7.51%
    Not provided 4 $450,000 $112,500 $1,374 7.43%
    American Indian 1 $145,000 $145,000 $1,928 6.00%

    Approval Rates

    Total approvals of all applications
    94.50%

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

    Pick Rate

    Approvals leading to origination
    87.35%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 166 $25,140,000 $151,446

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    166 $25,140,000 $151,446

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,380,000 $99,167 $1,614 7.65%
    40-60% 22 $3,600,000 $163,636 $2,307 7.19%
    60-80% 37 $8,255,000 $223,108 $2,578 7.21%
    80-100% 44 $9,420,000 $214,091 $2,783 6.83%
    Over 100% 1 $475,000 $475,000 $0 7.75%
    Under 20% 38 $1,010,000 $26,579 $314 7.61%