Strong Home Mortgage Rates, Fees & Info

Richmond, VA

LEI: 254900O28OG3UMHXQY81

Tax ID: 82-2650124

5 stars - Updated: 5/20/24 - out of 5 stars, based on 25 reviews

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

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Mortgage Data

Review & Overview

Strong Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. Strong Home Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Washington, Dallas, Miami, Orlando, and Houston among others. We have data for 137 markets. (Some data included below & more in-depth data is available with an active subscription.)

Strong Home Mortgage 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. Strong Home Mortgage is typically an average 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.

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 6.36% 5/20/24
30 Year Conventional Refi 6.31% 5/20/24
30 Year Cash-out Refi 6.49% 5/20/24
30 Year FHA Purchase 6.77% 5/20/24
30 Year FHA Refi 6.70% 5/20/24
30 Year VA Purchase 5.77% 5/20/24
30 Year VA Refi 5.53% 5/20/24
15 Year Conventional Purchase 6.04% 5/20/24
15 Year Conventional Refi 5.80% 5/20/24
15 Year Cash-out Refi 5.80% 5/20/24
15 Year VA Purchase 5.74% 5/20/24
15 Year VA Refi 5.68% 5/20/24
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.

Strong Home Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Strong Home Mortgage. 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

625

Origination Dollar Volume (All Markets)

$285,585,000
Show all (8) awards

Relative Rate

Strong Home Mortgage's average 30 year fixed mortgage rate was 6.34%.

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

This yields a difference of -0.14%.

Relative Fees (Closing Costs)

Strong Home Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $7,767.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 88 $47,880,000 $544,091 $7,122 6.34%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 40 $17,800,000 $445,000 $9,195 6.34%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 38 $16,850,000 $443,421 $6,823 6.44%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 23 $10,795,000 $469,348 $6,508 6.51%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 23 $9,835,000 $427,609 $7,714 6.18%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 16 $9,070,000 $566,875 $11,746 5.66%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 19 $8,715,000 $458,684 $10,065 5.99%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 11 $7,835,000 $712,273 $7,794 6.19%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 15 $7,475,000 $498,333 $7,746 6.17%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 15 $6,525,000 $435,000 $5,598 6.01%
RALEIGH-CARY, NC (FHA|USDA|VA) 14 $6,400,000 $457,143 $5,552 6.24%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $6,345,000 $576,818 $10,564 6.32%
Outside of Metro Areas 17 $5,675,000 $333,824 $7,682 6.32%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 8 $5,120,000 $640,000 $7,413 6.39%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 13 $4,905,000 $377,308 $6,574 6.49%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 9 $3,925,000 $436,111 $6,872 5.75%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $3,725,000 $532,143 $7,452 6.37%
Sevierville, TN (FHA|USDA|VA) 7 $3,575,000 $510,714 $6,190 7.68%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 6 $3,390,000 $565,000 $10,064 6.52%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $3,040,000 $506,667 $12,915 6.31%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 6 $2,930,000 $488,333 $7,255 5.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $2,910,000 $363,750 $8,547 6.70%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $2,750,000 $458,333 $7,308 6.81%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $2,580,000 $430,000 $10,660 5.91%
RICHMOND, VA (FHA|USDA|VA) 5 $2,435,000 $487,000 $8,152 6.05%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $2,410,000 $602,500 $12,060 6.44%
TUCSON, AZ (FHA|USDA|VA) 5 $2,155,000 $431,000 $8,215 5.92%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $2,080,000 $520,000 $21,242 5.59%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $2,060,000 $515,000 $4,488 6.81%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $2,005,000 $401,000 $6,628 6.80%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,955,000 $651,667 $2,941 7.12%
WINSTON-SALEM, NC (FHA|USDA|VA) 5 $1,935,000 $387,000 $4,950 6.40%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $1,830,000 $457,500 $8,931 6.28%
WILMINGTON, NC (FHA|USDA|VA) 4 $1,740,000 $435,000 $2,457 6.78%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,725,000 $345,000 $9,087 6.33%
ALBUQUERQUE, NM (FHA|USDA|VA) 4 $1,700,000 $425,000 $9,191 6.47%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,675,000 $558,333 $5,350 5.79%
ASHEVILLE, NC (FHA|USDA|VA) 4 $1,620,000 $405,000 $5,387 6.75%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $1,490,000 $372,500 $7,963 5.91%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $1,485,000 $297,000 $5,979 6.77%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 4 $1,440,000 $360,000 $6,203 6.31%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $1,435,000 $478,333 $3,900 6.79%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $1,395,000 $465,000 $9,653 5.58%
GAINESVILLE, FL (FHA|USDA|VA) 3 $1,345,000 $448,333 $5,942 6.17%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,245,000 $249,000 $7,819 6.65%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,235,000 $411,667 $10,030 5.71%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $1,210,000 $605,000 $12,468 6.31%
Cañon City, CO (FHA|USDA|VA) 1 $1,195,000 $1,195,000 $21,170 6.75%
Brevard, NC (FHA|USDA|VA) 2 $1,140,000 $570,000 $1,809 5.81%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $1,120,000 $560,000 $2,832 6.69%
MADERA, CA (FHA|USDA|VA) 2 $1,080,000 $540,000 $10,413 6.31%
SHERMAN-DENISON, TX (FHA|USDA|VA) 3 $1,045,000 $348,333 $10,060 6.37%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $970,000 $485,000 $5,297 7.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $965,000 $321,667 $8,514 6.04%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $960,000 $480,000 $14,189 6.56%
LUBBOCK, TX (FHA|USDA|VA) 3 $935,000 $311,667 $7,062 6.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $870,000 $435,000 $5,837 5.69%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $865,000 $288,333 $11,352 7.16%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $860,000 $430,000 $2,290 7.06%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $850,000 $425,000 $8,293 5.75%
Aberdeen, WA (FHA|USDA|VA) 3 $845,000 $281,667 $7,008 5.83%
LANCASTER, PA (FHA|USDA|VA) 2 $780,000 $390,000 $4,439 7.19%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $740,000 $370,000 $9,409 5.87%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $730,000 $365,000 $12,410 6.19%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $710,000 $355,000 $2,884 6.50%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $670,000 $335,000 $8,521 5.74%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $665,000 $665,000 $1,901 6.38%
OCALA, FL (FHA|USDA|VA) 3 $655,000 $218,333 $7,935 5.88%
Sulphur Springs, TX (FHA|USDA|VA) 1 $655,000 $655,000 $13,380 7.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $655,000 $655,000 $8,436 5.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $640,000 $320,000 $6,131 6.44%
FRESNO, CA (FHA|USDA|VA) 2 $640,000 $320,000 $3,156 6.31%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $640,000 $320,000 $9,318 6.44%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $635,000 $635,000 $4,928 6.88%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $635,000 $635,000 $550 5.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $630,000 $315,000 $3,616 6.69%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $625,000 $625,000 $5,615 5.25%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $615,000 $615,000 $11,672 5.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $615,000 $615,000 $9,596 7.25%
Jesup, GA (FHA|USDA|VA) 1 $585,000 $585,000 $13,001 5.75%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $575,000 $575,000 $3,162 5.99%
Gainesville, TX (FHA|USDA|VA) 1 $555,000 $555,000 $5,837 6.13%
Big Spring, TX (FHA|USDA|VA) 1 $545,000 $545,000 $4,481 6.50%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $540,000 $270,000 $3,702 6.50%
North Wilkesboro, NC (FHA|USDA|VA) 2 $530,000 $265,000 $11,003 6.06%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $515,000 $515,000 $11,110 6.49%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $505,000 $505,000 $891 5.63%
AMARILLO, TX (FHA|USDA|VA) 1 $495,000 $495,000 $7,935 5.63%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $490,000 $245,000 $9,145 8.50%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $485,000 $485,000 $2,399 6.99%
ROANOKE, VA (FHA|USDA|VA) 1 $485,000 $485,000 $4,719 6.99%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $485,000 $485,000 $625 5.75%
Bellefontaine, OH (FHA|USDA|VA) 1 $485,000 $485,000 $11,318 6.63%
SPARTANBURG, SC (FHA|USDA|VA) 1 $485,000 $485,000 $6,163 5.25%
MODESTO, CA (FHA|USDA|VA) 1 $475,000 $475,000 $4,565 6.13%
Athens, TX (FHA|USDA|VA) 1 $465,000 $465,000 $8,088 5.88%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $465,000 $465,000 $1,114 6.00%
Del Rio, TX (FHA|USDA|VA) 1 $455,000 $455,000 $17,698 5.75%
COLUMBUS, OH (FHA|USDA|VA) 1 $455,000 $455,000 $2,915 6.99%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $445,000 $445,000 $6,682 6.00%
MIDLAND, TX (FHA|USDA|VA) 1 $445,000 $445,000 $3,726 7.63%
STOCKTON, CA (FHA|USDA|VA) 1 $425,000 $425,000 $5,258 6.49%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $415,000 $415,000 $14,544 5.13%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $415,000 $415,000 $2,079 5.99%
STAUNTON, VA (FHA|USDA|VA) 1 $405,000 $405,000 $144 5.63%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $405,000 $405,000 $2,997 7.50%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $6,107 7.25%
CHICO, CA (FHA|USDA|VA) 1 $405,000 $405,000 $2,767 5.99%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $385,000 $385,000 $10,710 6.13%
Wooster, OH (FHA|USDA|VA) 1 $375,000 $375,000 $9,630 6.50%
Pecos, TX (FHA|USDA|VA) 1 $345,000 $345,000 $9,302 5.13%
HARRISONBURG, VA (FHA|USDA|VA) 1 $335,000 $335,000 $4,182 8.13%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $325,000 $325,000 $6,123 6.25%
MONTGOMERY, AL (FHA|USDA|VA) 1 $315,000 $315,000 $9,167 7.49%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $315,000 $315,000 $9,642 5.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $305,000 $305,000 $3,889 6.49%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $305,000 $305,000 $7,143 5.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $305,000 $305,000 $12,856 5.49%
Portsmouth, OH (FHA|USDA|VA) 1 $295,000 $295,000 $8,769 5.25%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $275,000 $275,000 $8,905 7.38%
ERIE, PA (FHA|USDA|VA) 1 $275,000 $275,000 $4,719 7.38%
Astoria, OR (FHA|USDA|VA) 1 $255,000 $255,000 $1,948 7.62%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $235,000 $235,000 $5,934 7.50%
Arcadia, FL (FHA|USDA|VA) 1 $185,000 $185,000 $6,853 7.99%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,107 7.38%
ST. GEORGE, UT (FHA|USDA|VA) 1 $185,000 $185,000 $7,622 6.13%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $165,000 $165,000 $2,908 6.25%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $2,680 6.50%
PITTSBURGH, PA (FHA|USDA|VA) 1 $135,000 $135,000 $6,128 7.50%
LIMA, OH (FHA|USDA|VA) 1 $135,000 $135,000 $6,222 7.25%
YAKIMA, WA (FHA|USDA|VA) 1 $135,000 $135,000 $2,823 6.62%
Sonora, CA (FHA|USDA|VA) 1 $115,000 $115,000 $2,859 7.88%
OWENSBORO, KY (FHA|USDA|VA) 1 $95,000 $95,000 $6,534 6.38%
TOLEDO, OH (FHA|USDA|VA) 1 $85,000 $85,000 $3,938 6.99%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $85,000 $85,000 $4,731 7.50%
MUNCIE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $5,199 6.50%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $75,000 $75,000 $4,605 9.38%
Strong Home Mortgage's top markets include Washington, Dallas, Miami, Orlando, and Houston among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Strong Home Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 42
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    ABNB Federal Credit Union
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    FRONTWAVE
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    JOHNSON MORTGAGE COMPANY, L.L.C.
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    PIMA Federal Credit Union
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    Educational Employees Credit Union
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    Lakeland Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 366 $162,930,000 $445,164 $5,209 6.58%
    VA 167 $82,995,000 $496,976 $10,508 5.88%
    FHA 92 $39,660,000 $431,087 $11,991 6.16%

    For 2023, Strong Home Mortgage's most frequently originated type of loan was Conventional, with 366 originations. Their 2nd most popular type was VA, with 167 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 557 $259,435,000 $465,772 $7,593 6.35%
    Cash Out Refi 45 $18,825,000 $418,333 $9,563 5.88%
    Refi 11 $5,265,000 $478,636 $3,026 6.21%
    Other 7 $1,165,000 $166,429 $6,606 6.53%
    Home Improvement 5 $895,000 $179,000 $5,471 8.72%

    For 2023, Strong Home Mortgage's most frequently cited loan purpose was Home Purchase, with 557 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 594 $271,770,000 $457,525 $7,767 6.34%
    15 Year 29 $13,565,000 $467,759 $4,981 5.95%
    20 Year 2 $250,000 $125,000 $4,473 10.06%

    For 2023, Strong Home Mortgage's most frequently cited loan duration was 30 Year, with 594 originations. The 2nd most popular length was 15 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 288 $133,080,000 $462,083
    $1k-2k 125 $55,015,000 $440,120
    $5k+ 75 $38,275,000 $510,333
    $2k-3k 64 $26,920,000 $420,625
    $3k-4k 44 $21,270,000 $483,409
    $4k-5k 28 $10,470,000 $373,929

    Strong Home Mortgage's average total fees were $7,767, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 288 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 282 $131,390,000 $465,922
    5-6% 230 $108,390,000 $471,261
    7-8% 92 $37,010,000 $402,283
    4-5% 14 $6,320,000 $451,429
    Over 8% 7 $2,475,000 $353,571

    During 2023, Strong Home Mortgage's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 282 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 276 $134,360,000 $486,812 $7,649 6.25%
    $200k-400k 193 $62,265,000 $322,617 $7,059 6.31%
    $600k-1MM 104 $72,710,000 $699,135 $8,833 6.31%
    $100k-200k 37 $5,825,000 $157,432 $4,283 7.00%
    $1MM+ 8 $9,830,000 $1,228,750 $22,754 6.37%
    $100,000 or less 7 $595,000 $85,000 $4,866 7.19%

    2023 saw Strong Home Mortgage place emphasis on $400k-600k loans with 276 originations, totaling $134,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 243 $120,235,000 $494,794 $7,354 6.39%
    $100k-150k 182 $79,190,000 $435,110 $8,288 6.21%
    $250k+ 92 $53,160,000 $577,826 $8,153 6.56%
    $75k-100k 72 $24,000,000 $333,333 $7,390 6.14%
    $50k-75k 31 $7,255,000 $234,032 $5,367 6.37%
    $50k or less 3 $535,000 $178,333 $5,051 6.08%

    Strong Home Mortgage lent most frequently to those with incomes in the $150k-250k range, with 243 originations. The second most popular income band? $100k-150k, with 182 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 104 $47,840,000 $460,000 $7,560 6.35%
    20-30% 88 $36,750,000 $417,614 $5,635 6.46%
    50-60% 70 $33,840,000 $483,429 $11,076 6.07%
    45% 31 $12,765,000 $411,774 $9,235 6.36%
    44% 30 $15,700,000 $523,333 $6,762 6.07%
    48% 30 $14,070,000 $469,000 $9,604 6.09%
    49% 28 $12,170,000 $434,643 $7,651 6.34%
    43% 27 $12,075,000 $447,222 $4,811 6.43%
    47% 26 $12,810,000 $492,692 $7,535 6.25%
    46% 25 $12,085,000 $483,400 $7,538 6.30%
    41% 24 $11,370,000 $473,750 $8,831 6.42%
    42% 23 $10,605,000 $461,087 $8,873 6.29%
    40% 21 $9,945,000 $473,571 $7,374 6.50%
    38% 21 $10,135,000 $482,619 $6,643 6.54%
    37% 21 $9,585,000 $456,429 $5,307 6.70%
    36% 21 $8,685,000 $413,571 $7,386 6.33%
    <20% 18 $6,910,000 $383,889 $5,016 6.40%
    39% 16 $7,690,000 $480,625 $8,041 6.40%

    Strong Home Mortgage lent most frequently to those with DTI ratios of 30-36%, with 104 originations. The next most common DTI ratio? 20-30%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 340 $154,370,000 $454,029 $7,655 6.27%
    Not provided 145 $68,065,000 $469,414 $7,279 6.48%
    Asian 81 $39,515,000 $487,840 $7,133 6.33%
    Black 42 $17,080,000 $406,667 $9,310 6.23%
    American Indian 8 $3,210,000 $401,250 $10,872 6.28%
    Asian Indian 4 $1,590,000 $397,500 $5,832 7.18%
    Native Hawaiian or Islander 2 $710,000 $355,000 $6,984 6.88%
    Other Asian 1 $465,000 $465,000 $3,993 6.25%
    Vietnamese 1 $375,000 $375,000 $4,976 6.88%
    Other Pacific Islander 1 $205,000 $205,000 $6,574 5.99%

    Approval Rates

    Total approvals of all applications
    92.94%

    Strong Home Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    5.12%

    Strong Home Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 625 $285,585,000 $456,936

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    625 $285,585,000 $456,936

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $6,175,000 $325,000 $4,236 6.75%
    40-60% 61 $22,595,000 $370,410 $5,331 6.24%
    60-80% 167 $75,615,000 $452,784 $6,221 6.55%
    80-100% 343 $165,525,000 $482,580 $8,083 6.24%
    Over 100% 31 $15,255,000 $492,097 $17,133 5.87%
    Under 20% 4 $420,000 $105,000 $4,232 8.50%