Hamilton Mortgage Corporation Rates, Fees & Info
Birmingham, ALLEI: 254900XPILOY1LB5CK32
Tax ID: 63-1000598
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Mortgage Data
Review & 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 by origination volume include: Birmingham, Daphne, Huntsville, Hattiesburg, and Dothan among others. We have data for 52 markets. (Some data included below & more in-depth data is available with an active subscription.)Hamilton Mortgage Corporation 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. Hamilton Mortgage Corporation 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 4/21/24 |
| 30 Year Conventional Refi | 6.67% | 4/21/24 |
| 30 Year FHA Purchase | 7.36% | 4/21/24 |
| 30 Year FHA Refi | 7.45% | 4/21/24 |
| 30 Year VA Purchase | 6.30% | 4/21/24 |
| 30 Year VA Refi | 6.49% | 4/21/24 |
| 30 Year USDA Purchase | 6.68% | 4/21/24 |
| 30 Year USDA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.19% | 4/21/24 |
| 15 Year Conventional Refi | 6.28% | 4/21/24 |
| 15 Year Cash-out Refi | 6.28% | 4/21/24 |
| 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. | ||
Hamilton Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
713Origination Dollar Volume (All Markets)
$124,905,000Awards
Hamilton Mortgage Corporation - 2019
Hamilton Mortgage Corporation is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 105 | $17,065,000 | $162,524 | $3,436 | 4.28% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 69 | $15,435,000 | $223,696 | $3,708 | 4.41% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 80 | $14,730,000 | $184,125 | $3,419 | 4.29% |
| HATTIESBURG, MS (FHA|USDA|VA) | 55 | $12,565,000 | $228,455 | $3,825 | 4.38% |
| DOTHAN, AL (FHA|USDA|VA) | 78 | $11,720,000 | $150,256 | $3,467 | 4.38% |
| Outside of Metro Areas | 73 | $10,865,000 | $148,836 | $3,435 | 4.39% |
| JACKSON, MS (FHA|USDA|VA) | 24 | $5,030,000 | $209,583 | $2,970 | 4.14% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 23 | $4,745,000 | $206,304 | $4,375 | 4.29% |
| MONTGOMERY, AL (FHA|USDA|VA) | 22 | $3,710,000 | $168,636 | $3,678 | 4.40% |
| Tupelo, MS (FHA|USDA|VA) | 26 | $3,630,000 | $139,615 | $3,642 | 4.69% |
| Albertville, AL (FHA|USDA|VA) | 17 | $2,035,000 | $119,706 | $2,652 | 4.79% |
| Ozark, AL (FHA|USDA|VA) | 12 | $1,790,000 | $149,167 | $3,009 | 3.97% |
| Scottsboro, AL (FHA|USDA|VA) | 7 | $1,715,000 | $245,000 | $3,609 | 4.05% |
| Natchez, MS-LA (FHA|USDA|VA) | 8 | $1,670,000 | $208,750 | $4,037 | 4.06% |
| Laurel, MS (FHA|USDA|VA) | 8 | $1,630,000 | $203,750 | $3,938 | 4.31% |
| Cullman, AL (FHA|USDA|VA) | 9 | $1,515,000 | $168,333 | $4,366 | 4.08% |
| Jasper, AL (FHA|USDA|VA) | 9 | $1,485,000 | $165,000 | $4,567 | 4.04% |
| DECATUR, AL (FHA|USDA|VA) | 8 | $1,350,000 | $168,750 | $4,378 | 3.84% |
| Bainbridge, GA (FHA|USDA|VA) | 8 | $1,180,000 | $147,500 | $2,078 | 4.25% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 6 | $1,020,000 | $170,000 | $2,993 | 4.56% |
| Selma, AL (FHA|USDA|VA) | 7 | $725,000 | $103,571 | $3,200 | 4.66% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,199 | 4.25% |
| Brookhaven, MS (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $4,709 | 3.85% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $6,411 | 3.79% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,794 | 4.06% |
| Cordele, GA (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $3,820 | 4.13% |
| Thomasville, GA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $7,189 | 4.31% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $495 | 4.13% |
| Enterprise, AL (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $2,518 | 5.17% |
| MOBILE, AL (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $1,121 | 5.04% |
| Fitzgerald, GA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,664 | 3.81% |
| Tifton, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $7,536 | 3.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,624 | 3.88% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,347 | 3.88% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,756 | 4.25% |
| Fort Payne, AL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,813 | 4.75% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $5,044 | 4.46% |
| Picayune, MS (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,623 | 5.25% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,885 | 4.19% |
| Starkville, MS (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,035 | 3.94% |
| Moultrie, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,561 | 4.50% |
| Alexander City, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,761 | 4.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,779 | 4.00% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,625 | 3.63% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,148 | 4.63% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,313 | 4.50% |
| Oxford, MS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,934 | 3.88% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $495 | 4.25% |
| Magnolia, AR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,222 | 4.13% |
| Meridian, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,903 | 4.38% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,450 | 3.88% |
| Clarksdale, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,789 | 4.00% |
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Product Mix
For 2019, Hamilton Mortgage Corporation's most frequently originated type of loan was Conventional, with 385 originations. Their 2nd most popular type was FHA, with 193 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 503 | $81,715,000 | $162,455 | $3,104 | 4.36% |
| Refi | 210 | $43,190,000 | $205,667 | $4,569 | 4.26% |
For 2019, Hamilton Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 503 originations. The 2nd most popular reason was Refi, with 210 originations.
Loan Duration/Length
For 2019, Hamilton Mortgage Corporation's most frequently cited loan duration was 30 Year, with 660 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
Hamilton Mortgage Corporation's average total fees were $3,558, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 389 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 374 | $64,630,000 | $172,807 |
| 3-4% | 260 | $48,340,000 | $185,923 |
| 5-6% | 78 | $11,870,000 | $152,179 |
| 2.5-3% | 1 | $65,000 | $65,000 |
During 2019, Hamilton Mortgage Corporation's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 374 originations.
Loan Sizing
2019 saw Hamilton Mortgage Corporation place emphasis on $100k-200k loans with 352 originations, totaling $51,840,000 in origination value.
Applicant Income
Hamilton Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 206 originations. The second most popular income band? $50k-75k, with 202 originations.
Applicant Debt to Income Ratio
Hamilton Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 162 originations. The next most common DTI ratio? 30-36%, with 122 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.39%
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 origination80.79%
Hamilton Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 713 | $124,905,000 | $175,182 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $925,000 | $102,778 |
| Single Family (1-4 Units):Site-Built | 704 | $123,980,000 | $176,108 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HAMILTON GROUP FUNDING, INC. | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |