The Home Loan Expert Mortgage Rates, Fees & Info
St Louis, MOLEI: 254900Q716E7IUMXGB91
Tax ID: 47-2469140
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Mortgage Data
Review & Overview
The Home Loan Expert is a smaller mortgage company specializing in Home Improvement, Refi, and Home Purchase loans. The Home Loan Expert has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Indianapolis, Chicago, Nashville, and Birmingham among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)The Home Loan Expert has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Home Loan Expert 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 11/22/24 |
| 30 Year Conventional Refi | 6.63% | 11/22/24 |
| 30 Year Cash-out Refi | 7.08% | 11/22/24 |
| 30 Year FHA Purchase | 7.45% | 11/22/24 |
| 30 Year FHA Refi | 7.09% | 11/22/24 |
| 30 Year VA Purchase | 6.13% | 11/22/24 |
| 30 Year VA Refi | 6.38% | 11/22/24 |
| 30 Year USDA Purchase | 6.52% | 11/22/24 |
| 15 Year Conventional Purchase | 6.14% | 11/22/24 |
| 15 Year Conventional Refi | 6.31% | 11/22/24 |
| 15 Year Cash-out Refi | 6.31% | 11/22/24 |
| 15 Year FHA Refi | 5.68% | 11/22/24 |
| 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. | ||
The Home Loan Expert Mortgage Calculator
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This is not an official calculator from The Home Loan Expert. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
821Origination Dollar Volume (All Markets)
$167,485,000Top 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 472 | $96,920,000 | $205,339 | $5,718 | 4.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 153 | $27,105,000 | $177,157 | $5,225 | 4.78% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 89 | $21,185,000 | $238,034 | $6,304 | 4.74% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 49 | $12,085,000 | $246,633 | $5,316 | 5.00% |
| Outside of Metro Areas | 13 | $2,185,000 | $168,077 | $4,729 | 5.49% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $7,183 | 4.81% |
| Farmington, MO (FHA|USDA|VA) | 6 | $890,000 | $148,333 | $5,572 | 4.94% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $6,165 | 5.18% |
| Frankfort, IN (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $7,827 | 3.63% |
| COLUMBIA, MO (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,033 | 5.25% |
| Cullman, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,576 | 4.63% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,383 | 4.13% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,307 | 4.38% |
| New Castle, IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,162 | 5.00% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,505 | 4.31% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,117 | 4.38% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,542 | 3.75% |
| KOKOMO, IN (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $5,654 | 5.06% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,729 | 4.00% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,828 | 4.38% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,749 | 5.38% |
| TYLER, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,761 | 5.38% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,599 | 4.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,479 | 5.00% |
| Connersville, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,209 | 4.63% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,877 | 4.13% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,126 | 4.75% |
| McMinnville, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,679 | 5.00% |
| Richmond, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,618 | 8.99% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,012 | 5.25% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,161 | 5.38% |
| Kennett, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,200 | 4.50% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,752 | 6.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Home Loan Expert 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
For 2018, The Home Loan Expert's most frequently originated type of loan was Conventional, with 390 originations. Their 2nd most popular type was FHA, with 293 originations.
Loan Reason
For 2018, The Home Loan Expert's most frequently cited loan purpose was Home Improvement, with 341 originations. The 2nd most popular reason was Refi, with 202 originations.
Loan Duration/Length
For 2018, The Home Loan Expert's most frequently cited loan duration was 30 Year, with 682 originations. The 2nd most popular length was 15 Year, with 74 originations.
Origination Fees/Closing Costs
The Home Loan Expert's average total fees were $5,810, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 605 originations.
Interest Rates
During 2018, The Home Loan Expert's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 524 originations.
Loan Sizing
2018 saw The Home Loan Expert place emphasis on $100k-200k loans with 418 originations, totaling $64,210,000 in origination value.
Applicant Income
The Home Loan Expert lent most frequently to those with incomes in the $50k-75k range, with 226 originations. The second most popular income band? $100k-150k, with 215 originations.
Applicant Debt to Income Ratio
The Home Loan Expert lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 50-60%, with 114 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.99%
The Home Loan Expert has an average approval rate.
Pick Rate
Approvals leading to origination-44.21%
The Home Loan Expert 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 | 821 | $167,485,000 | $204,001 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 821 | $167,485,000 | $204,001 |