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 Refi and Home Purchase 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, Huntsville, Hattiesburg, Daphne, and Jackson among others. We have data for 63 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 an above 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% 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






    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

    1,145

    Origination Dollar Volume (All Markets)

    $226,775,000
    Show all (17) 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) 235 $43,015,000 $183,043 $3,355 3.02%
    HUNTSVILLE, AL (FHA|USDA|VA) 144 $32,600,000 $226,389 $3,869 2.99%
    HATTIESBURG, MS (FHA|USDA|VA) 81 $20,095,000 $248,086 $3,975 3.32%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 81 $19,675,000 $242,901 $3,782 3.22%
    Outside of Metro Areas 94 $14,540,000 $154,681 $3,353 3.15%
    JACKSON, MS (FHA|USDA|VA) 57 $14,455,000 $253,596 $3,937 3.14%
    DOTHAN, AL (FHA|USDA|VA) 86 $13,650,000 $158,721 $4,223 3.23%
    MONTGOMERY, AL (FHA|USDA|VA) 57 $10,435,000 $183,070 $4,011 2.86%
    Tupelo, MS (FHA|USDA|VA) 46 $7,090,000 $154,130 $3,834 3.20%
    Natchez, MS-LA (FHA|USDA|VA) 36 $6,880,000 $191,111 $3,028 2.96%
    DECATUR, AL (FHA|USDA|VA) 16 $2,760,000 $172,500 $4,331 2.97%
    Albertville, AL (FHA|USDA|VA) 16 $2,730,000 $170,625 $4,052 3.02%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 12 $2,510,000 $209,167 $4,637 3.49%
    Selma, AL (FHA|USDA|VA) 16 $2,390,000 $149,375 $2,971 3.05%
    TUSCALOOSA, AL (FHA|USDA|VA) 10 $2,220,000 $222,000 $2,949 2.78%
    Ozark, AL (FHA|USDA|VA) 17 $2,195,000 $129,118 $3,390 3.05%
    Laurel, MS (FHA|USDA|VA) 10 $2,170,000 $217,000 $4,587 3.41%
    Jasper, AL (FHA|USDA|VA) 10 $1,950,000 $195,000 $2,258 3.28%
    Brookhaven, MS (FHA|USDA|VA) 9 $1,925,000 $213,889 $4,700 3.04%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 7 $1,895,000 $270,714 $5,762 3.13%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 5 $1,745,000 $349,000 $2,911 2.55%
    Bainbridge, GA (FHA|USDA|VA) 10 $1,650,000 $165,000 $3,568 2.99%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 7 $1,225,000 $175,000 $3,409 2.80%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $1,150,000 $287,500 $2,510 2.84%
    Alexander City, AL (FHA|USDA|VA) 5 $1,045,000 $209,000 $3,381 4.15%
    Enterprise, AL (FHA|USDA|VA) 6 $1,040,000 $173,333 $2,965 3.06%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $955,000 $318,333 $6,390 3.25%
    PANAMA CITY, FL (FHA|USDA|VA) 3 $725,000 $241,667 $1,141 3.04%
    Scottsboro, AL (FHA|USDA|VA) 3 $695,000 $231,667 $1,517 3.00%
    Russellville, AR (FHA|USDA|VA) 4 $680,000 $170,000 $5,040 4.31%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 2 $660,000 $330,000 $2,609 3.25%
    TEXARKANA, TX-AR (FHA|USDA|VA) 4 $650,000 $162,500 $4,554 3.56%
    Thomasville, GA (FHA|USDA|VA) 3 $625,000 $208,333 $3,468 3.33%
    Picayune, MS (FHA|USDA|VA) 2 $590,000 $295,000 $6,822 2.88%
    Starkville, MS (FHA|USDA|VA) 3 $585,000 $195,000 $2,454 2.96%
    WARNER ROBINS, GA (FHA|USDA|VA) 3 $565,000 $188,333 $3,911 3.08%
    MOBILE, AL (FHA|USDA|VA) 3 $555,000 $185,000 $1,862 3.13%
    Eufaula, AL-GA (FHA|USDA|VA) 2 $540,000 $270,000 $2,627 2.94%
    Oxford, MS (FHA|USDA|VA) 1 $515,000 $515,000 $5,467 3.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $515,000 $515,000 $8,508 3.38%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $440,000 $220,000 $4,544 3.88%
    McComb, MS (FHA|USDA|VA) 2 $390,000 $195,000 $4,703 3.13%
    Cullman, AL (FHA|USDA|VA) 3 $365,000 $121,667 $3,694 3.13%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $365,000 $365,000 $0 2.25%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $360,000 $180,000 $4,742 3.06%
    Dublin, GA (FHA|USDA|VA) 4 $290,000 $72,500 $2,858 2.53%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,820 4.25%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $235,000 $235,000 $6,516 2.75%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,108 3.00%
    Americus, GA (FHA|USDA|VA) 1 $195,000 $195,000 $0 2.63%
    Troy, AL (FHA|USDA|VA) 1 $195,000 $195,000 $4,004 3.13%
    VALDOSTA, GA (FHA|USDA|VA) 1 $195,000 $195,000 $6,220 3.50%
    Searcy, AR (FHA|USDA|VA) 1 $165,000 $165,000 $3,256 2.88%
    Cordele, GA (FHA|USDA|VA) 1 $165,000 $165,000 $3,869 3.00%
    GADSDEN, AL (FHA|USDA|VA) 1 $165,000 $165,000 $3,345 3.50%
    Malvern, AR (FHA|USDA|VA) 1 $155,000 $155,000 $4,327 3.00%
    Douglas, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,798 2.75%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $135,000 $135,000 $4,870 4.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $135,000 $135,000 $5,537 2.38%
    PINE BLUFF, AR (FHA|USDA|VA) 1 $115,000 $115,000 $3,109 3.50%
    ALBANY, GA (FHA|USDA|VA) 1 $85,000 $85,000 $993 3.25%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $75,000 $75,000 $4,668 3.75%
    Batesville, AR (FHA|USDA|VA) 1 $65,000 $65,000 $3,318 2.38%
    Hamilton Mortgage Corporation's top markets include Birmingham, Huntsville, Hattiesburg, Daphne, and Jackson among others.

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

    MAX Credit Union
    Similarity Rank: 399
    RIVERTRUST Federal Credit Union
    Similarity Rank: 459
    Five Star Credit Union
    Similarity Rank: 468
    Liberty Mortgage Corporation
    Similarity Rank: 630
    Jefferson Credit Union
    Similarity Rank: 702
    First Financial Bank
    Similarity Rank: 918
    Liberty Bank and Trust Company
    Similarity Rank: 1260
    AMERICAN HOME LENDING USA, LLC
    Similarity Rank: 1612
    ALABAMA CREDIT UNION
    Similarity Rank: 1675
    Alabama One Credit Union
    Similarity Rank: 1860

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 762 $160,630,000 $210,801 $3,500 3.12%
    FHA 165 $25,935,000 $157,182 $4,521 3.19%
    USDA 131 $18,225,000 $139,122 $2,957 3.03%
    VA 87 $21,985,000 $252,701 $5,110 2.92%

    For 2020, Hamilton Mortgage Corporation's most frequently originated type of loan was Conventional, with 762 originations. Their 2nd most popular type was FHA, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 624 $130,990,000 $209,920 $3,917 3.03%
    Home Purchase 520 $95,650,000 $183,942 $3,438 3.20%
    Home Improvement 1 $135,000 $135,000 $3,966 3.00%

    For 2020, Hamilton Mortgage Corporation's most frequently cited loan purpose was Refi, with 624 originations. The 2nd most popular reason was Home Purchase, with 520 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 930 $186,650,000 $200,699 $3,760 3.18%
    15 Year 150 $28,610,000 $190,733 $3,510 2.74%
    20 Year 45 $8,385,000 $186,333 $3,532 2.96%
    10 Year 12 $1,950,000 $162,500 $2,988 2.61%
    Other 8 $1,180,000 $147,500 $3,712 3.02%

    For 2020, Hamilton Mortgage Corporation's most frequently cited loan duration was 30 Year, with 930 originations. The 2nd most popular length was 15 Year, with 150 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 516 $103,750,000 $201,066
    $<1k 367 $67,375,000 $183,583
    $2k-3k 171 $33,395,000 $195,292
    $3k-4k 56 $12,770,000 $228,036
    $5k+ 20 $5,310,000 $265,500
    $4k-5k 15 $4,175,000 $278,333

    Hamilton Mortgage Corporation's average total fees were $3,760, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 516 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 453 $93,175,000 $205,684
    3-4% 415 $81,035,000 $195,265
    <2.5% 197 $38,895,000 $197,437
    4-5% 71 $12,245,000 $172,465
    5-6% 9 $1,425,000 $158,333

    During 2020, Hamilton Mortgage Corporation's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 453 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 560 $82,930,000 $148,089 $3,432 3.09%
    $200k-400k 412 $111,470,000 $270,558 $4,190 3.06%
    $100,000 or less 124 $9,860,000 $79,516 $2,922 3.33%
    $400k-600k 49 $22,515,000 $459,490 $4,691 3.02%

    2020 saw Hamilton Mortgage Corporation place emphasis on $100k-200k loans with 560 originations, totaling $82,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 299 $49,455,000 $165,401 $3,624 3.18%
    $50k or less 260 $35,390,000 $136,115 $3,289 3.08%
    $100k-150k 221 $51,395,000 $232,557 $4,062 3.07%
    $75k-100k 201 $41,455,000 $206,244 $3,886 3.12%
    $150k-250k 116 $33,450,000 $288,362 $3,799 3.04%
    $250k+ 46 $15,200,000 $330,435 $3,837 3.00%

    Hamilton Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 299 originations. The second most popular income band? $50k or less, with 260 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 295 $57,885,000 $196,220 $3,628 3.03%
    30-36% 235 $47,905,000 $203,851 $3,686 3.10%
    <20% 133 $27,245,000 $204,850 $3,539 2.95%
    50-60% 49 $8,155,000 $166,429 $4,189 3.21%
    36% 41 $7,465,000 $182,073 $3,931 3.21%
    41% 39 $8,115,000 $208,077 $3,739 3.16%
    37% 38 $6,780,000 $178,421 $3,942 3.18%
    38% 37 $7,185,000 $194,189 $3,575 3.14%
    40% 36 $6,860,000 $190,556 $3,856 3.25%
    39% 36 $6,730,000 $186,944 $3,475 3.07%
    44% 35 $7,635,000 $218,143 $3,878 3.46%
    42% 30 $5,620,000 $187,333 $3,500 3.17%
    43% 28 $5,090,000 $181,786 $4,257 3.35%
    45% 22 $4,720,000 $214,545 $3,832 2.97%
    47% 19 $4,355,000 $229,211 $4,807 3.16%
    46% 18 $3,310,000 $183,889 $3,114 3.55%
    48% 17 $3,565,000 $209,706 $3,200 3.05%
    49% 16 $2,850,000 $178,125 $4,205 3.41%
    >60% 4 $850,000 $212,500 $5,841 2.81%

    Hamilton Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 295 originations. The next most common DTI ratio? 30-36%, with 235 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,047 $209,595,000 $200,186 $3,720 3.10%
    Black 69 $12,255,000 $177,609 $3,683 3.09%
    Asian 16 $2,870,000 $179,375 $3,283 3.06%
    Not provided 11 $1,805,000 $164,091 $3,819 3.17%
    American Indian 1 $125,000 $125,000 $1,947 3.25%
    Not applicable 1 $125,000 $125,000 $795 3.50%

    Approval Rates

    Total approvals of all applications
    99.04%

    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
    91.62%

    Hamilton Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,145 $226,775,000 $198,057

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $580,000 $96,667
    Single Family (1-4 Units):Site-Built 1,139 $226,195,000 $198,591

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $3,690,000 $153,750 $2,866 2.98%
    40-60% 97 $17,525,000 $180,670 $3,334 2.87%
    60-80% 374 $80,170,000 $214,358 $3,695 3.10%
    80-100% 633 $121,105,000 $191,319 $3,640 3.15%
    Over 100% 17 $4,285,000 $252,059 $9,713 2.92%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    HAMILTON GROUP FUNDING, INC. Conventional home mortgage Trouble during payment process 2 50.0%
    HAMILTON GROUP FUNDING, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    HAMILTON GROUP FUNDING, INC. VA mortgage Closing on a mortgage 1 25.0%