Hamilton Mortgage Corporation Rates, Fees & Info

Birmingham, AL

LEI: 254900XPILOY1LB5CK32

Tax ID: 63-1000598

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hamilton Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Hamilton Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Birmingham, Huntsville, Daphne, Hattiesburg, and Dothan among others. Hamilton Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Hamilton Mortgage Corporation is typically an average fee lendor.


Originations

949

Origination Dollar Volume (All Markets)

$203,865,000
Show all (15) awards

Relative Rate

Hamilton Mortgage Corporation's average 30 year fixed rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

Hamilton Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $3,915.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 189 $36,095,000 $190,979 $3,809 2.79%
HUNTSVILLE, AL (FHA|USDA|VA) 124 $29,830,000 $240,565 $4,186 2.89%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 84 $24,810,000 $295,357 $3,754 3.15%
HATTIESBURG, MS (FHA|USDA|VA) 76 $19,610,000 $258,026 $4,159 3.12%
DOTHAN, AL (FHA|USDA|VA) 70 $11,670,000 $166,714 $3,935 2.98%
Outside of Metro Areas 70 $10,930,000 $156,143 $3,392 3.02%
MONTGOMERY, AL (FHA|USDA|VA) 47 $7,985,000 $169,894 $3,556 2.81%
JACKSON, MS (FHA|USDA|VA) 26 $7,250,000 $278,846 $4,141 3.10%
Tupelo, MS (FHA|USDA|VA) 32 $4,940,000 $154,375 $3,760 2.99%
Natchez, MS-LA (FHA|USDA|VA) 17 $4,395,000 $258,529 $3,626 3.04%
Albertville, AL (FHA|USDA|VA) 17 $4,025,000 $236,765 $3,512 2.96%
PANAMA CITY, FL (FHA|USDA|VA) 12 $3,990,000 $332,500 $4,907 3.35%
DECATUR, AL (FHA|USDA|VA) 12 $3,090,000 $257,500 $3,150 2.63%
Laurel, MS (FHA|USDA|VA) 11 $2,505,000 $227,727 $3,614 3.28%
Bainbridge, GA (FHA|USDA|VA) 14 $2,500,000 $178,571 $3,771 2.89%
Brookhaven, MS (FHA|USDA|VA) 9 $2,195,000 $243,889 $5,109 2.90%
Selma, AL (FHA|USDA|VA) 14 $2,190,000 $156,429 $3,502 2.80%
Ozark, AL (FHA|USDA|VA) 15 $2,105,000 $140,333 $4,532 2.97%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 8 $1,770,000 $221,250 $3,786 3.19%
Alexander City, AL (FHA|USDA|VA) 6 $1,390,000 $231,667 $3,918 2.52%
Thomasville, GA (FHA|USDA|VA) 5 $1,375,000 $275,000 $3,941 3.15%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 5 $1,285,000 $257,000 $3,027 3.03%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,265,000 $421,667 $5,635 2.83%
Cullman, AL (FHA|USDA|VA) 6 $1,170,000 $195,000 $3,111 3.10%
Dublin, GA (FHA|USDA|VA) 7 $1,165,000 $166,429 $5,081 3.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 5 $1,155,000 $231,000 $4,665 3.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $1,010,000 $252,500 $7,022 3.06%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $980,000 $245,000 $3,964 2.84%
MOBILE, AL (FHA|USDA|VA) 4 $860,000 $215,000 $3,672 2.63%
Starkville, MS (FHA|USDA|VA) 4 $800,000 $200,000 $3,644 3.19%
TEXARKANA, TX-AR (FHA|USDA|VA) 3 $785,000 $261,667 $5,729 2.79%
Enterprise, AL (FHA|USDA|VA) 5 $775,000 $155,000 $4,340 3.08%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $640,000 $320,000 $8,648 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $600,000 $300,000 $1,384 2.69%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $565,000 $188,333 $4,472 3.75%
Oxford, MS (FHA|USDA|VA) 3 $495,000 $165,000 $5,181 2.63%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $455,000 $455,000 $1,398 2.63%
Scottsboro, AL (FHA|USDA|VA) 3 $435,000 $145,000 $3,857 2.58%
Jasper, AL (FHA|USDA|VA) 4 $420,000 $105,000 $2,258 3.22%
TUSCALOOSA, AL (FHA|USDA|VA) 2 $410,000 $205,000 $3,465 3.06%
Clarksdale, MS (FHA|USDA|VA) 2 $370,000 $185,000 $4,217 3.00%
Troy, AL (FHA|USDA|VA) 1 $345,000 $345,000 $3,795 3.38%
Milledgeville, GA (FHA|USDA|VA) 1 $315,000 $315,000 $4,181 2.75%
JONESBORO, AR (FHA|USDA|VA) 2 $310,000 $155,000 $3,418 3.31%
Picayune, MS (FHA|USDA|VA) 1 $295,000 $295,000 $6,721 3.50%
PINE BLUFF, AR (FHA|USDA|VA) 1 $275,000 $275,000 $2,758 2.50%
ALBANY, GA (FHA|USDA|VA) 2 $250,000 $125,000 $2,983 3.75%
Russellville, AR (FHA|USDA|VA) 1 $245,000 $245,000 $2,023 3.38%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $225,000 $225,000 $2,283 2.75%
Moultrie, GA (FHA|USDA|VA) 1 $215,000 $215,000 $4,654 2.88%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,538 3.50%
Atmore, AL (FHA|USDA|VA) 1 $175,000 $175,000 $2,389 3.38%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $165,000 $165,000 $2,467 2.88%
Searcy, AR (FHA|USDA|VA) 1 $135,000 $135,000 $2,303 2.38%
Eufaula, AL-GA (FHA|USDA|VA) 1 $125,000 $125,000 $3,584 3.88%
GADSDEN, AL (FHA|USDA|VA) 1 $105,000 $105,000 $1,753 2.25%
VALDOSTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,047 3.00%
LaGrange, GA-AL (FHA|USDA|VA) 1 $85,000 $85,000 $5,256 2.63%

Hamilton Mortgage Corporation's top markets include Birmingham, Huntsville, Daphne, Hattiesburg, and Dothan among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 611 $137,795,000 $225,524 $3,447 3.04%
FHA 154 $27,940,000 $181,429 $5,373 2.82%
USDA 118 $19,900,000 $168,644 $3,852 2.76%
VA 66 $18,230,000 $276,212 $4,705 2.83%

For the 2021 period, Hamilton Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 611 originations. Their 2nd most popular type is FHA, with 154 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 534 $116,920,000 $218,951 $3,690 3.00%
Refi 415 $86,945,000 $209,506 $4,168 2.90%

For the 2021, Hamilton Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 534 originations. The 2nd most popular reason of loans were Refi, with 415 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 819 $178,265,000 $217,662 $3,915 3.02%
15 Year 102 $20,470,000 $200,686 $3,773 2.51%
20 Year 20 $3,610,000 $180,500 $3,953 2.86%
10 Year 4 $670,000 $167,500 $3,087 2.25%
Other 3 $645,000 $215,000 $4,666 2.96%
3 Year 1 $205,000 $205,000 $3,136 3.00%

For the 2021, Hamilton Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 819 originations. The 2nd most popular length of loans were 15 Year, with 102 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 495 $108,775,000 $219,747
$<1k 259 $52,605,000 $203,108
$2k-3k 126 $25,640,000 $203,492
$3k-4k 52 $11,600,000 $223,077
$5k+ 16 $5,120,000 $320,000

$3,915 of loans were Hamilton Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 495 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 390 $82,890,000 $212,538
3-4% 324 $74,010,000 $228,426
<2.5% 210 $42,250,000 $201,190
4-5% 25 $4,715,000 $188,600

During 2021, Hamilton Mortgage Corporation's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 390 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 402 $108,760,000 $270,547 $4,314 2.96%
$100k-200k 394 $59,380,000 $150,711 $3,481 2.93%
$100,000 or less 96 $7,690,000 $80,104 $3,073 2.99%
$400k-600k 56 $27,410,000 $489,464 $5,312 3.06%
$600k-1MM 1 $625,000 $625,000 $2,435 3.13%

2021 saw Hamilton Mortgage Corporation place emphasis on $200k-400k loans with 402 originations, totaling $108,760,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 233 $42,975,000 $184,442 $3,732 2.98%
$50k or less 225 $31,565,000 $140,289 $3,505 2.87%
$75k-100k 178 $40,530,000 $227,697 $4,132 2.96%
$100k-150k 161 $40,995,000 $254,627 $4,296 2.93%
$150k-250k 115 $34,395,000 $299,087 $3,952 3.08%
$250k+ 37 $13,405,000 $362,297 $4,337 3.09%

Hamilton Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 233 originations. The second most popular income band? $50k or less, with 225 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 263 $56,265,000 $213,935 $3,787 2.91%
30-36% 169 $36,365,000 $215,178 $3,777 3.04%
<20% 120 $24,110,000 $200,917 $3,420 2.91%
50-60% 41 $9,095,000 $221,829 $5,317 2.90%
43% 38 $10,110,000 $266,053 $3,981 2.96%
37% 36 $8,120,000 $225,556 $4,379 2.96%
44% 32 $6,810,000 $212,813 $4,021 2.90%
41% 31 $6,825,000 $220,161 $3,775 2.84%
39% 31 $5,835,000 $188,226 $3,607 3.13%
42% 28 $5,810,000 $207,500 $3,781 3.01%
38% 26 $4,620,000 $177,692 $3,265 3.06%
40% 25 $4,985,000 $199,400 $3,930 2.98%
36% 24 $5,590,000 $232,917 $3,990 3.11%
49% 19 $4,575,000 $240,789 $4,418 2.87%
46% 18 $3,990,000 $221,667 $4,978 3.03%
47% 16 $3,780,000 $236,250 $3,154 2.99%
48% 16 $3,740,000 $233,750 $5,356 2.92%
45% 16 $3,240,000 $202,500 $4,781 2.84%

Hamilton Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 263 originations. The next most common DTI ratio? 30-36%, with 169 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 846 $181,960,000 $215,083 $3,856 2.96%
Black 63 $13,395,000 $212,619 $4,348 2.99%
Not provided 28 $6,070,000 $216,786 $3,745 2.96%
Asian 11 $2,295,000 $208,636 $4,795 2.93%
Native Hawaiian 1 $145,000 $145,000 $6,089 2.25%

Approval Rates

Total approvals of all applications
95.63%

Hamilton Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
84.18%

Hamilton Mortgage Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 949 $203,865,000 $214,821

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
949 $203,865,000 $214,821

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 25 $4,395,000 $175,800 $3,347 2.76%
40-60% 72 $12,170,000 $169,028 $3,373 2.75%
60-80% 304 $67,340,000 $221,513 $3,790 3.04%
80-100% 544 $118,540,000 $217,904 $3,983 2.95%
Over 100% 4 $1,420,000 $355,000 $13,573 2.94%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HAMILTON GROUP FUNDING, INC. Conventional home mortgage Trouble during payment process 2 100.0%