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

Grand Island, NE

LEI: 254900IL7D0ACZ6YVF12

Tax ID: 47-0465799

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

Review & 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 by origination volume include: Grand Island, Lexington, Lincoln, Hastings, and Omaha among others. We have data for 15 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%	4/28/24
30 Year Conventional Refi	6.45%	4/28/24
30 Year Cash-out Refi	6.80%	4/28/24
30 Year FHA Purchase	7.31%	4/28/24
30 Year VA Purchase	6.50%	4/28/24
30 Year USDA Purchase	6.72%	4/28/24
15 Year Conventional Purchase	6.40%	4/28/24
15 Year Conventional Refi	6.13%	4/28/24
15 Year Cash-out Refi	6.13%	4/28/24
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

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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

446

Origination Dollar Volume (All Markets)

$101,590,000

Employee count

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

Show all (3) 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)	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.

Their top states include:

Nebraska (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Iowa (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: 88

Equitable Bank
Similarity Rank: 105

U.S. HOME MORTGAGE, INC.
Similarity Rank: 112

CENTRIS FEDERAL CREDIT UNION
Similarity Rank: 220

Security First Bank
Similarity Rank: 232

Home Federal Savings & Loan Association of Grand Island
Similarity Rank: 315

Union Bank and Trust Company
Similarity Rank: 456

West Gate Bank
Similarity Rank: 1710

Pinnacle Bank
Similarity Rank: 1955

CHARTER WEST BANK
Similarity Rank: 1960

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	422	$98,380,000	$233,128	$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%
HELOC	1	$255,000	$255,000	n/a	4.50%

For 2021, Home Federal Savings & Loan Association Of Grand Island's most frequently originated type of loan was Conventional, with 422 originations. Their 2nd most popular type was USDA, with 18 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan purpose was Refi, with 187 originations. The 2nd most popular reason was 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 2021, Home Federal Savings & Loan Association Of Grand Island's most frequently cited loan duration was 30 Year, with 198 originations. The 2nd most popular length was 15 Year, with 135 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	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

Home Federal Savings & Loan Association Of Grand Island's average total fees were $1,913, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.18%, while their most frequently originated rate bucket for loans was 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
92.36%

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

Pick Rate

Approvals leading to origination
89.01%

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	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	3419 West State Street Grand Island, NE 68803	Full Service B&M	$82,525
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