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

Grand Island, NE

LEI: 254900IL7D0ACZ6YVF12

Tax ID: 47-0465799

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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 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, Hastings, Omaha, and Kearney 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 & 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.62% 3/28/24
30 Year Conventional Refi 6.45% 3/28/24
30 Year Cash-out Refi 6.80% 3/28/24
30 Year FHA Purchase 7.31% 3/28/24
30 Year VA Purchase 6.50% 3/28/24
30 Year USDA Purchase 6.72% 3/28/24
15 Year Conventional Purchase 6.40% 3/28/24
15 Year Conventional Refi 6.13% 3/28/24
15 Year Cash-out Refi 6.13% 3/28/24
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

272

Origination Dollar Volume (All Markets)

$34,060,000

Employee count

72

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 gold 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 gold
Show all (4) awards

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) 158 $21,610,000 $136,772 $1,576 4.67%
Lexington, NE (FHA|USDA|VA) 51 $4,665,000 $91,471 $1,438 4.74%
Hastings, NE (FHA|USDA|VA) 24 $2,370,000 $98,750 $1,811 4.65%
Outside of Metro Areas 23 $2,085,000 $90,652 $1,444 4.89%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 6 $1,110,000 $185,000 $2,214 4.52%
Kearney, NE (FHA|USDA|VA) 3 $715,000 $238,333 $5,865 4.96%
LINCOLN, NE (FHA|USDA|VA) 4 $680,000 $170,000 $2,648 4.63%
FORT COLLINS, CO (FHA|USDA|VA) 1 $635,000 $635,000 $393 3.90%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $155,000 $155,000 $1,715 4.88%
North Platte, NE (FHA|USDA|VA) 1 $35,000 $35,000 $254 6.95%
Home Federal Savings & Loan Association Of Grand Island's top markets include Grand Island, Lexington, Hastings, Omaha, and Kearney among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Missouri (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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 243 $30,615,000 $125,988 $1,434 4.75%
    USDA 13 $1,205,000 $92,692 $2,718 4.06%
    FHA 10 $1,050,000 $105,000 $3,853 4.51%
    VA 6 $1,190,000 $198,333 $3,490 4.63%

    For 2018, Home Federal Savings & Loan Association Of Grand Island's most frequently originated type of loan was Conventional, with 243 originations. Their 2nd most popular type was USDA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 167 $24,215,000 $145,000 $2,130 4.49%
    Refi 40 $4,470,000 $111,750 $936 5.04%
    Cash Out Refi 30 $4,080,000 $136,000 $1,514 4.61%
    Home Improvement 19 $645,000 $33,947 $435 5.50%
    Other 16 $650,000 $40,625 $462 5.45%

    For 2018, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan purpose was Home Purchase, with 167 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 138 $22,760,000 $164,928 $2,162 4.60%
    15 Year 39 $4,275,000 $109,615 $1,349 4.49%
    10 Year 32 $1,340,000 $41,875 $887 4.23%
    Other 29 $3,715,000 $128,103 $254 5.31%
    5 Year 17 $415,000 $24,412 $174 5.77%
    20 Year 8 $1,110,000 $138,750 $2,020 4.63%
    3 Year 7 $305,000 $43,571 $169 5.14%
    1 Year 2 $140,000 $70,000 $0 5.25%

    For 2018, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan duration was 30 Year, with 138 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 195 $24,795,000 $127,154
    $1k-2k 13 $2,315,000 $178,077
    $2k-3k 1 $185,000 $185,000
    $5k+ 1 $405,000 $405,000

    Home Federal Savings & Loan Association Of Grand Island's average total fees were $2,162, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 195 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 176 $24,390,000 $138,580
    5-6% 50 $3,520,000 $70,400
    3-4% 28 $5,660,000 $202,143
    <2.5% 8 $40,000 $5,000
    6-7% 8 $420,000 $52,500
    7-8% 2 $30,000 $15,000

    During 2018, Home Federal Savings & Loan Association Of Grand Island's average interest rate for loans was 4.60%, while their most frequently originated rate bucket for loans was 4-5%, with 176 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 127 $6,515,000 $51,299 $995 4.81%
    $100k-200k 99 $14,255,000 $143,990 $1,918 4.65%
    $200k-400k 41 $10,625,000 $259,146 $2,250 4.61%
    $400k-600k 3 $1,335,000 $445,000 $3,068 4.13%
    $600k-1MM 2 $1,330,000 $665,000 $393 3.95%

    2018 saw Home Federal Savings & Loan Association Of Grand Island place emphasis on $100,000 or less loans with 127 originations, totaling $6,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 77 $5,935,000 $77,078 $1,651 4.54%
    $50k-75k 67 $7,375,000 $110,075 $1,375 4.77%
    $100k-150k 52 $9,480,000 $182,308 $1,817 4.62%
    $75k-100k 39 $5,175,000 $132,692 $1,729 4.87%
    $150k-250k 16 $3,210,000 $200,625 $1,558 4.73%
    $250k+ 4 $740,000 $185,000 $929 4.96%

    Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $7,735,000 $112,101 $1,471 4.73%
    30-36% 49 $5,975,000 $121,939 $1,667 4.63%
    <20% 18 $1,900,000 $105,556 $1,242 4.72%
    43% 14 $2,360,000 $168,571 $2,119 4.52%
    39% 12 $1,410,000 $117,500 $1,921 4.90%
    37% 11 $2,025,000 $184,091 $2,122 5.00%
    44% 9 $555,000 $61,667 $1,720 3.63%
    40% 9 $1,135,000 $126,111 $1,971 4.75%
    41% 9 $625,000 $69,444 $1,224 5.35%
    42% 8 $1,300,000 $162,500 $1,278 4.94%
    36% 8 $1,240,000 $155,000 $1,651 4.53%
    38% 8 $1,370,000 $171,250 $2,135 4.20%
    50-60% 8 $1,440,000 $180,000 $1,378 4.99%
    46% 4 $540,000 $135,000 $1,703 4.41%
    >60% 3 $195,000 $65,000 $902 5.36%
    45% 3 $355,000 $118,333 $0 4.58%
    49% 2 $180,000 $90,000 $1,906 5.31%
    47% 1 $165,000 $165,000 $1,579 4.88%

    Home Federal Savings & Loan Association Of Grand Island lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 246 $30,250,000 $122,967 $1,577 4.69%
    Not applicable 12 $1,780,000 $148,333 $0 5.00%
    Not provided 11 $1,745,000 $158,636 $1,973 4.87%
    Asian 1 $155,000 $155,000 $1,906 4.88%
    Japanese 1 $75,000 $75,000 $1,419 4.63%
    American Indian 1 $55,000 $55,000 $1,653 4.75%

    Approval Rates

    Total approvals of all applications
    93.85%

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

    Pick Rate

    Approvals leading to origination
    88.60%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 272 $34,060,000 $125,221

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $135,000 $135,000
    Single Family (1-4 Units):Manufactured 4 $170,000 $42,500
    Single Family (1-4 Units):Site-Built 267 $33,755,000 $126,423

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $1,595,000 $59,074 $675 5.23%
    40-60% 38 $3,350,000 $88,158 $1,368 4.91%
    60-80% 73 $11,875,000 $162,671 $1,593 4.67%
    80-100% 99 $16,055,000 $162,172 $2,322 4.59%
    Over 100% 3 $495,000 $165,000 $7,175 4.83%
    Under 20% 29 $455,000 $15,690 $153 4.42%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Home Federal Savings and Loan Association of Grand Island 201 W 7th Street Lexington, NE 68850 Full Service B&M $11,711
    Home Federal Savings and Loan Association of Grand Island 221 South Locust Street Grand Island, NE 68801 Full Service B&M $90,914
    Home Federal Savings and Loan Association of Grand Island 3311 West Stolley Park Road Grand Island, NE 68803 Full Service B&M $59,756
    Home Federal Savings and Loan Association of Grand Island 3419 West State Street Grand Island, NE 68803 Full Service B&M $54,607
    Home Federal Savings and Loan Association of Grand Island 423 Garfield Holdrege, NE 68949 Full Service B&M $6,772
    Home Federal Savings and Loan Association of Grand Island 454 Central Avenue Superior, NE 68978 Full Service B&M $6,998
    Home Federal Savings and Loan Association of Grand Island 715 West 4th Hastings, NE 68901 Full Service B&M $7,855

    For 2018, Home Federal Savings & Loan Association Of Grand Island had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,003
    Net interest income $9,908
    Total noninterest income $2,574
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $625
    Trading account gains and fees $0
    Additional Noninterest Income $1,949
    Pre-tax net operating income $1,640
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,360
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,360
    Minority interest net income $0
    Net income $1,360
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,360

    Home Federal Savings & Loan Association Of Grand Island's gross interest income from loans was $11,003,000.
    Home Federal Savings & Loan Association Of Grand Island's net interest income from loans was $9,908,000.
    Home Federal Savings & Loan Association Of Grand Island's fee based income from loans was $625,000.
    Home Federal Savings & Loan Association Of Grand Island's net income from loans was $1,360,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,095
    Provision for credit losses $110
    Total noninterest expense $10,732
    Salaries and employee benefits $5,870
    Premises and equipment expense $1,084
    Additional noninterest expense $3,778
    Applicable income taxes $280
    Net charge-offs $-88
    Cash dividends $0

    Home Federal Savings & Loan Association Of Grand Island's interest expense for loans was $1,095,000.
    Home Federal Savings & Loan Association Of Grand Island's payroll and benefits expense were $5,870,000.
    Home Federal Savings & Loan Association Of Grand Island's property, plant and equipment expenses $1,084,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 1.0%
    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 $241,920
    Deposits held in domestic offices $241,920
    Deposits by Individuals, partnerships, and corporations $237,299
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,621
    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 $152,249
    Demand deposits $134,500
    Nontransaction accounts $89,671
    Money market deposit accounts (MMDAs) $32,617
    Other savings deposits (excluding MMDAs) $6,259
    Total time deposits $50,795
    Total time and savings deposits $107,420
    Noninterest-bearing deposits $42,154
    Interest-bearing deposits $199,766
    Retail deposits $235,718
    IRAs and Keogh plan accounts $17,004
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $282,020
    Cash & Balances due from depository institutions $19,620
    Interest-bearing balances $11,896
    Total securities $73,054
    Federal funds sold & reverse repurchase $0
    Net loans and leases $176,887
    Loan and leases loss allowance $3,750
    Trading account assets $0
    Bank premises and fixed assets $4,461
    Other real estate owned $0
    Goodwill and other intangibles $1,004
    All other assets $6,994

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $282,020
    Total Liabilities $248,948
    Total deposits $241,920
    Interest-bearing deposits $199,766
    Deposits held in domestic offices $241,920
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $7,028

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $176,887
    Loan and leases loss allowance $3,750
    Total loans and leases (domestic) $180,637
    All real estate loans $133,860
    Real estate loans in domestic offices $133,860
    Construction and development loans $13,939
    Residential 1-4 family construction $7,735
    Other construction, all land development and other land $6,204
    Loans secured by nonfarm nonresidential properties $52,734
    Nonfarm nonresidential secured by owner-occupied properties $26,364
    Commercial real estate & other non-farm, non-residential $26,370
    Multifamily residential real estate $13,765
    1-4 family residential loans $45,062
    Farmland loans $8,360
    Loans held in foreign offices $0
    Farm loans $11,327
    Commercial and industrial loans $26,649
    To non-U.S. addressees $0
    Loans to individuals $7,990
    Credit card loans $0
    Related Plans $402
    Consumer Auto Loans $6,055
    Other loans to individuals $1,533
    All other loans & leases $812
    Loans to foreign governments and official institutions $0
    Other loans $812
    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 $176,887,000 of loans outstanding in 2018. $133,860,000 of loans were in real estate loans. $13,939,000 of loans were in development loans. $13,765,000 of loans were in multifamily mortgage loans. $45,062,000 of loans were in 1-4 family mortgage loans. $11,327,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,055,000 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 120 $25,578 $213,150
    Nonfarm, nonresidential loans - <$100k 37 $1,246 $33,676
    Nonfarm, nonresidential loans - $100-250k 35 $4,477 $127,914
    Nonfarm, nonresidential loans - $250k-1MM 48 $19,855 $413,646
    Commercial & Industrial, US addressed loans - <$1MM 260 $17,487 $67,258
    Commercial & Industrial, US addressed loans - <$100k 188 $3,767 $20,037
    Commercial & Industrial, US addressed loans - $100-250k 38 $4,059 $106,816
    Commercial & Industrial, US addressed loans - $250k-1MM 34 $9,661 $284,147
    Farmland loans - <$1MM 39 $5,105 $130,897
    Farmland loans - <$100k 17 $685 $40,294
    Farmland loans - $100-250k 11 $1,236 $112,364
    Farmland loans - $250k-1MM 11 $3,184 $289,455
    Agriculture operations loans - <$1MM 49 $3,534 $72,122
    Agriculture operations loans - <$100k 31 $1,151 $37,129
    Agriculture operations loans - $100-250k 15 $1,317 $87,800
    Agriculture operations loans - $250k-1MM 3 $1,066 $355,333