Hamilton Mortgage Corporation Rates, Fees & Info

Birmingham, AL

LEI: 254900XPILOY1LB5CK32

Tax ID: 63-1000598

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    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 6.86% 11/21/24
    30 Year Conventional Refi 6.67% 11/21/24
    30 Year FHA Purchase 7.36% 11/21/24
    30 Year FHA Refi 7.45% 11/21/24
    30 Year VA Purchase 6.30% 11/21/24
    30 Year VA Refi 6.49% 11/21/24
    30 Year USDA Purchase 6.68% 11/21/24
    30 Year USDA Refi 6.27% 11/21/24
    15 Year Conventional Purchase 6.19% 11/21/24
    15 Year Conventional Refi 6.28% 11/21/24
    15 Year Cash-out Refi 6.28% 11/21/24
    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






    Your Estimates

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

    This is not an official calculator from Hamilton Mortgage Corporation. 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

    713

    Origination Dollar Volume (All Markets)

    $124,905,000
    Show all (8) 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
    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%
    Hamilton Mortgage Corporation's top markets include Birmingham, Daphne, Huntsville, Hattiesburg, and Dothan among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

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

    AMERICA'S FIRST
    Similarity Rank: 80
    ALABAMA CREDIT UNION
    Similarity Rank: 288
    MAX Credit Union
    Similarity Rank: 392
    Troy Bank and Trust Company
    Similarity Rank: 437
    Guardian Credit Union
    Similarity Rank: 605
    Liberty Mortgage Corporation
    Similarity Rank: 748
    Eco Credit Union
    Similarity Rank: 805
    FBT Mortgage, L.L.C.
    Similarity Rank: 1120
    The Home Lending Group LLC
    Similarity Rank: 1247
    KEESLER
    Similarity Rank: 1360

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 385 $74,865,000 $194,455 $3,370 4.37%
    FHA 193 $28,175,000 $145,984 $4,055 4.31%
    USDA 82 $10,650,000 $129,878 $2,428 4.27%
    VA 53 $11,215,000 $211,604 $4,659 4.21%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 660 $116,210,000 $176,076 $3,558 4.36%
    15 Year 39 $6,795,000 $174,231 $2,985 3.92%
    20 Year 12 $1,590,000 $132,500 $4,147 4.21%
    10 Year 2 $310,000 $155,000 $4,540 4.31%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 389 $60,795,000 $156,285
    $1k-2k 178 $31,770,000 $178,483
    $2k-3k 84 $17,030,000 $202,738
    $3k-4k 32 $7,180,000 $224,375
    $4k-5k 16 $4,770,000 $298,125
    $5k+ 8 $2,130,000 $266,250

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 352 $51,840,000 $147,273 $3,223 4.30%
    $200k-400k 202 $53,090,000 $262,822 $4,641 4.26%
    $100,000 or less 139 $11,015,000 $79,245 $2,478 4.53%
    $400k-600k 20 $8,960,000 $448,000 $5,205 4.35%

    2019 saw Hamilton Mortgage Corporation place emphasis on $100k-200k loans with 352 originations, totaling $51,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 206 $23,340,000 $113,301 $2,686 4.38%
    $50k-75k 202 $31,740,000 $157,129 $3,594 4.32%
    $75k-100k 132 $25,280,000 $191,515 $3,944 4.35%
    $100k-150k 117 $26,585,000 $227,222 $4,291 4.25%
    $150k-250k 41 $12,345,000 $301,098 $3,965 4.44%
    $250k+ 15 $5,615,000 $374,333 $3,644 4.09%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 162 $29,530,000 $182,284 $3,387 4.24%
    30-36% 122 $22,350,000 $183,197 $3,730 4.29%
    <20% 54 $7,970,000 $147,593 $3,276 4.21%
    50-60% 44 $7,610,000 $172,955 $4,485 4.28%
    39% 32 $6,830,000 $213,438 $3,421 4.34%
    41% 29 $4,855,000 $167,414 $3,250 4.36%
    44% 28 $4,590,000 $163,929 $3,353 4.38%
    36% 28 $4,170,000 $148,929 $2,778 4.43%
    37% 28 $4,180,000 $149,286 $3,029 4.30%
    40% 27 $4,595,000 $170,185 $3,378 4.43%
    42% 21 $3,535,000 $168,333 $3,457 4.23%
    38% 21 $3,475,000 $165,476 $2,848 4.57%
    45% 21 $3,075,000 $146,429 $3,215 4.44%
    49% 20 $3,820,000 $191,000 $3,863 4.51%
    43% 19 $3,875,000 $203,947 $4,245 4.39%
    46% 18 $3,080,000 $171,111 $3,906 4.59%
    48% 16 $2,930,000 $183,125 $4,181 4.36%
    47% 14 $2,610,000 $186,429 $3,663 4.65%
    >60% 9 $1,825,000 $202,778 $5,232 4.63%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 629 $111,715,000 $177,607 $3,579 4.32%
    Black 70 $10,470,000 $149,571 $3,031 4.50%
    Asian 6 $1,370,000 $228,333 $4,271 4.15%
    Not provided 4 $660,000 $165,000 $4,694 4.06%
    Not applicable 3 $485,000 $161,667 $3,171 4.25%
    Other Asian 1 $205,000 $205,000 $4,984 3.88%

    Approval Rates

    Total approvals of all applications
    97.39%

    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 origination
    80.79%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $1,395,000 $107,308 $3,161 4.01%
    40-60% 24 $3,420,000 $142,500 $3,341 4.33%
    60-80% 182 $34,770,000 $191,044 $3,879 4.30%
    80-100% 479 $82,525,000 $172,286 $3,368 4.35%
    Over 100% 13 $2,645,000 $203,462 $5,871 4.22%
    Under 20% 2 $150,000 $75,000 $3,098 4.50%

    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%