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, Huntsville, Daphne, Hattiesburg, and Dothan among others. We have data for 58 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
949Origination Dollar Volume (All Markets)
$203,865,000Awards
Hamilton Mortgage Corporation - 2021
Hamilton Mortgage Corporation is a 2021 , due to their low .
For 2021, 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) | 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% |
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Product Mix
For 2021, Hamilton Mortgage Corporation's most frequently originated type of loan was Conventional, with 611 originations. Their 2nd most popular type was FHA, with 154 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. 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 2021, Hamilton Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 534 originations. The 2nd most popular reason was Refi, with 415 originations.
Loan Duration/Length
For 2021, Hamilton Mortgage Corporation's most frequently cited loan duration was 30 Year, with 819 originations. The 2nd most popular length was 15 Year, with 102 originations.
Origination Fees/Closing Costs
Hamilton Mortgage Corporation's average total fees were $3,915, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 390 originations.
Loan Sizing
2021 saw Hamilton Mortgage Corporation place emphasis on $200k-400k loans with 402 originations, totaling $108,760,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications93.74%
Hamilton Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination75.66%
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 |
LTV Distribution
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% |