Home Solution Lenders Mortgage Rates, Fees & Info

BARTOW, FL

LEI: 54930012OSP7Z8V2FB74

Tax ID: 26-1796172

1 stars - Updated: 3/28/24 - out of 5 stars, based on 28 reviews

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

Jump to:

Mortgage Data

Review & Overview

Home Solution Lenders is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Home Solution Lenders has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Lakeland, Tampa, Ocala, Orlando, and Sebring among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Home Solution Lenders 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. Home Solution Lenders is typically a high 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 relatively high 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 6.74% 3/28/24
30 Year Conventional Refi 6.65% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
30 Year FHA Purchase 7.19% 3/28/24
30 Year VA Purchase 6.17% 3/28/24
30 Year VA Refi 6.38% 3/28/24
30 Year USDA Purchase 6.69% 3/28/24
15 Year Conventional Purchase 6.22% 3/28/24
15 Year VA Purchase 5.63% 3/28/24
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.

Home Solution Lenders Mortgage Calculator






Your Estimates

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

This is not an official calculator from Home Solution Lenders. 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

757

Origination Dollar Volume (All Markets)

$246,185,000
Show all (13) awards

Relative Rate

Home Solution Lenders's average 30 year fixed mortgage rate was 5.94%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.54%.

Relative Fees (Closing Costs)

Home Solution Lenders's average total fees/closing costs for a 30 year fixed rate mortgage were $15,371.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 466 $150,820,000 $323,648 $15,909 5.91%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 111 $37,755,000 $340,135 $16,840 5.97%
OCALA, FL (FHA|USDA|VA) 71 $20,025,000 $282,042 $12,635 6.02%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 41 $16,235,000 $395,976 $19,232 5.98%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 29 $9,105,000 $313,966 $16,067 5.93%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 22 $7,500,000 $340,909 $12,451 6.41%
Outside of Metro Areas 11 $3,205,000 $291,364 $13,648 6.01%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $730,000 $365,000 $12,570 6.81%
THE VILLAGES, FL (FHA|USDA|VA) 1 $245,000 $245,000 $9,049 7.00%
Palatka, FL (FHA|USDA|VA) 1 $225,000 $225,000 $9,454 6.13%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $11,595 7.25%
Lake City, FL (FHA|USDA|VA) 1 $165,000 $165,000 $5,365 6.88%
Home Solution Lenders's top markets include Lakeland, Tampa, Ocala, Orlando, and Sebring among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Similar Lenders

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

    ORLANDO CREDIT UNION
    Similarity Rank: 459
    Coastline Federal Credit Union
    Similarity Rank: 574
    Terrabank
    Similarity Rank: 660
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 668
    CAMPUS USA
    Similarity Rank: 700
    JAX
    Similarity Rank: 711
    Shea Mortgage Inc.
    Similarity Rank: 741
    121 FINANCIAL
    Similarity Rank: 760
    ADDITION FINANCIAL
    Similarity Rank: 804
    Brannen Bank
    Similarity Rank: 858

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 371 $124,175,000 $334,704 $19,818 5.81%
    Conventional 277 $83,545,000 $301,606 $11,470 6.24%
    VA 98 $35,080,000 $357,959 $12,335 5.78%
    USDA 11 $3,385,000 $307,727 $16,018 5.66%

    For 2023, Home Solution Lenders's most frequently originated type of loan was FHA, with 371 originations. Their 2nd most popular type was Conventional, with 277 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 753 $245,315,000 $325,784 $15,787 5.96%
    Refi 2 $600,000 $300,000 $7,276 6.06%
    Cash Out Refi 2 $270,000 $135,000 $8,498 6.50%

    For 2023, Home Solution Lenders's most frequently cited loan purpose was Home Purchase, with 753 originations. The 2nd most popular reason was Refi, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 662 $213,780,000 $322,931 $15,371 5.94%
    30+ year 77 $26,975,000 $350,325 $19,472 6.07%
    Other 10 $3,760,000 $376,000 $18,876 5.90%
    15 Year 6 $1,350,000 $225,000 $7,792 5.87%
    10 Year 1 $15,000 $15,000 $612 9.13%
    20 Year 1 $305,000 $305,000 $7,086 5.75%

    For 2023, Home Solution Lenders's most frequently cited loan duration was 30 Year, with 662 originations. The 2nd most popular length was 30+ year, with 77 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 624 $206,130,000 $330,337
    $3k-4k 33 $11,285,000 $341,970
    $<1k 31 $8,655,000 $279,194
    $1k-2k 27 $7,135,000 $264,259
    $4k-5k 23 $6,855,000 $298,043
    $2k-3k 19 $6,125,000 $322,368

    Home Solution Lenders's average total fees were $15,371, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 624 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 411 $133,885,000 $325,754
    6-7% 241 $79,435,000 $329,606
    7-8% 55 $17,845,000 $324,455
    4-5% 44 $14,550,000 $330,682
    <2.5% 4 $60,000 $15,000
    3-4% 1 $395,000 $395,000
    Over 8% 1 $15,000 $15,000

    During 2023, Home Solution Lenders's average interest rate for loans was 5.94%, while their most frequently originated rate bucket for loans was 5-6%, with 411 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 579 $184,185,000 $318,109 $15,896 5.98%
    $400k-600k 110 $48,720,000 $442,909 $19,763 6.08%
    $100k-200k 56 $8,660,000 $154,643 $7,591 5.93%
    $600k-1MM 7 $4,545,000 $649,286 $14,243 5.82%
    $100,000 or less 5 $75,000 $15,000 $153 1.83%

    2023 saw Home Solution Lenders place emphasis on $200k-400k loans with 579 originations, totaling $184,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 252 $79,000,000 $313,492 $16,511 5.84%
    $100k-150k 243 $84,255,000 $346,728 $16,277 6.06%
    $50k-75k 135 $37,505,000 $277,815 $15,040 5.65%
    $150k-250k 104 $38,020,000 $365,577 $14,324 6.43%
    $250k+ 14 $5,820,000 $415,714 $13,863 6.23%
    $50k or less 9 $1,585,000 $176,111 $9,933 5.51%

    Home Solution Lenders lent most frequently to those with incomes in the $75k-100k range, with 252 originations. The second most popular income band? $100k-150k, with 243 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 184 $62,490,000 $339,620 $19,134 5.77%
    30-36% 90 $25,610,000 $284,556 $12,888 5.85%
    20-30% 65 $18,955,000 $291,615 $12,840 6.01%
    45% 38 $13,190,000 $347,105 $15,514 6.07%
    44% 36 $11,560,000 $321,111 $16,219 6.10%
    49% 35 $12,445,000 $355,571 $15,260 6.14%
    43% 35 $12,205,000 $348,714 $15,543 6.16%
    47% 34 $11,300,000 $332,353 $15,847 6.13%
    37% 33 $9,825,000 $297,727 $12,659 6.10%
    48% 32 $11,010,000 $344,063 $16,996 5.86%
    46% 26 $8,800,000 $338,462 $16,482 5.98%
    42% 25 $8,005,000 $320,200 $13,673 6.18%
    41% 24 $7,710,000 $321,250 $14,046 6.03%
    39% 22 $8,020,000 $364,545 $15,016 6.17%
    40% 22 $6,660,000 $302,727 $14,789 5.76%
    36% 20 $6,450,000 $322,500 $16,932 5.96%
    38% 20 $6,750,000 $337,500 $16,314 6.24%
    <20% 13 $3,955,000 $304,231 $12,228 5.94%
    >60% 3 $1,245,000 $415,000 $20,562 5.33%

    Home Solution Lenders lent most frequently to those with DTI ratios of 50-60%, with 184 originations. The next most common DTI ratio? 30-36%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 452 $146,060,000 $323,142 $15,137 6.01%
    Not provided 134 $42,990,000 $320,821 $16,859 5.85%
    Black 114 $37,950,000 $332,895 $17,069 5.89%
    Asian 41 $13,175,000 $321,341 $15,315 6.00%
    Asian Indian 6 $2,330,000 $388,333 $16,711 5.77%
    American Indian 7 $2,295,000 $327,857 $16,958 5.36%
    Other Asian 1 $625,000 $625,000 $9,672 4.75%
    Vietnamese 1 $425,000 $425,000 $11,413 6.88%
    Native Hawaiian or Islander 1 $335,000 $335,000 $3,450 7.25%

    Approval Rates

    Total approvals of all applications
    98.62%

    Home Solution Lenders 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
    86.79%

    Home Solution Lenders has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 757 $246,185,000 $325,211

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    757 $246,185,000 $325,211

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,625,000 $138,158 $7,652 5.73%
    40-60% 48 $9,530,000 $198,542 $8,672 6.04%
    60-80% 103 $31,255,000 $303,447 $11,813 6.28%
    80-100% 564 $195,890,000 $347,323 $17,278 5.95%
    Over 100% 16 $6,580,000 $411,250 $22,940 5.71%
    Under 20% 7 $305,000 $43,571 $2,185 2.91%