Home Solution Lenders Mortgage Rates, Fees & Info

BARTOW, FL

LEI: 54930012OSP7Z8V2FB74

Tax ID: 26-1796172

4 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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. Their top markets include Lakeland, Orlando, Tampa, Ocala, and Jacksonville among others. Home Solution Lenders has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Home Solution Lenders is typically a high fee lendor.


Originations

1,216

Origination Dollar Volume (All Markets)

$310,890,000
Show all (14) awards

Relative Rate

Home Solution Lenders 's average 30 year fixed rate mortgage of loans were 2.87%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.28%.

Relative Fees

Home Solution Lenders 's average total fees for a 30 year fixed rate mortgage are $6,573.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 759 $191,075,000 $251,746 $6,608 2.89%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 140 $38,910,000 $277,929 $7,148 2.76%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 120 $31,150,000 $259,583 $6,918 2.85%
OCALA, FL (FHA|USDA|VA) 86 $19,740,000 $229,535 $5,624 2.89%
JACKSONVILLE, FL (FHA|USDA|VA) 29 $10,335,000 $356,379 $5,565 3.07%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 32 $8,410,000 $262,813 $6,854 2.81%
Outside of Metro Areas 24 $5,630,000 $234,583 $6,657 3.06%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 13 $2,745,000 $211,154 $6,411 3.08%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,060,000 $265,000 $7,361 2.81%
Wauchula, FL (FHA|USDA|VA) 2 $470,000 $235,000 $3,877 2.69%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,250 3.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $310,000 $155,000 $6,753 2.69%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $290,000 $145,000 $3,009 3.38%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $275,000 $275,000 $2,052 2.75%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $9,746 3.25%

Home Solution Lenders 's top markets include Lakeland, Orlando, Tampa, Ocala, and Jacksonville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
FHA 522 $133,110,000 $255,000 $8,832 2.76%
Conventional 475 $117,355,000 $247,063 $4,285 3.09%
VA 137 $40,345,000 $294,489 $6,146 2.72%
USDA 82 $20,080,000 $244,878 $6,583 2.66%

For the 2021 period, Home Solution Lenders 's most frequently originated loan type of loans were FHA, with 522 originations. Their 2nd most popular type is Conventional, with 475 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,165 $298,665,000 $256,365 $6,695 2.88%
Refi 28 $6,990,000 $249,643 $3,995 2.90%
Cash Out Refi 22 $5,230,000 $237,727 $4,894 3.05%
Other 1 $5,000 $5,000 $0 0.00%

For the 2021, Home Solution Lenders 's most frequently cited loan purpose of loans were Home Purchase, with 1,165 originations. The 2nd most popular reason of loans were Refi, with 28 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,152 $293,440,000 $254,722 $6,573 2.87%
30+ year 33 $9,445,000 $286,212 $8,147 3.38%
15 Year 20 $4,220,000 $211,000 $4,855 2.56%
Other 9 $3,295,000 $366,111 $8,157 3.32%
10 Year 1 $265,000 $265,000 $3,342 2.00%
20 Year 1 $225,000 $225,000 $11,328 2.75%

For the 2021, Home Solution Lenders 's most frequently cited loan length of loans were 30 Year, with 1,152 originations. The 2nd most popular length of loans were 30+ year, with 33 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 360 $84,950,000 $235,972
$3k-4k 345 $93,515,000 $271,058
$2k-3k 322 $79,100,000 $245,652
$<1k 105 $28,755,000 $273,857
$5k+ 82 $24,030,000 $293,049

$6,573 of loans were Home Solution Lenders 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 360 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 615 $155,255,000 $252,447
3-4% 345 $89,415,000 $259,174
<2.5% 248 $64,440,000 $259,839
4-5% 8 $1,780,000 $222,500

During 2021, Home Solution Lenders 's average interest rate of loans were 2.87%, while their most frequently originated rate bucket of loans were 2.5-3%, with 615 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,040 $273,570,000 $263,048 $6,894 2.85%
$100k-200k 143 $23,995,000 $167,797 $4,260 3.04%
$400k-600k 27 $12,865,000 $476,481 $8,335 3.08%
$100,000 or less 6 $460,000 $76,667 $3,258 2.35%

2021 saw Home Solution Lenders place emphasis on $200k-400k loans with 1,040 originations, totaling $273,570,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 495 $121,665,000 $245,788 $6,667 2.81%
$75k-100k 308 $81,100,000 $263,312 $6,905 2.92%
$100k-150k 198 $56,740,000 $286,566 $6,235 2.98%
$50k or less 137 $28,615,000 $208,869 $6,247 2.77%
$150k-250k 57 $16,405,000 $287,807 $7,059 3.04%
$250k+ 21 $6,365,000 $303,095 $5,099 3.29%

Home Solution Lenders lent most frequently to those with incomes in the $50k-75k range, with 495 originations. The second most popular income band? $75k-100k, with 308 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 204 $51,390,000 $251,912 $5,595 2.94%
20-30% 186 $47,420,000 $254,946 $5,481 2.95%
50-60% 168 $42,740,000 $254,405 $8,176 2.76%
37% 56 $14,740,000 $263,214 $6,069 2.97%
44% 54 $13,270,000 $245,741 $6,723 2.92%
42% 54 $14,160,000 $262,222 $6,862 2.89%
39% 52 $13,650,000 $262,500 $6,701 2.83%
43% 52 $13,880,000 $266,923 $7,143 2.88%
41% 50 $12,760,000 $255,200 $6,417 2.80%
45% 47 $12,355,000 $262,872 $6,797 2.82%
36% 39 $9,555,000 $245,000 $6,070 2.81%
<20% 38 $9,320,000 $245,263 $5,434 2.98%
38% 38 $9,730,000 $256,053 $6,749 2.92%
46% 37 $9,345,000 $252,568 $7,916 2.80%
49% 37 $9,175,000 $247,973 $7,343 2.86%
40% 36 $9,740,000 $270,556 $7,060 2.95%
47% 34 $9,010,000 $265,000 $8,328 2.77%
48% 29 $7,295,000 $251,552 $8,190 2.71%
>60% 5 $1,355,000 $271,000 $4,059 2.83%

Home Solution Lenders lent most frequently to those with DTI ratios of 30-36%, with 204 originations. The next most common DTI ratio? 20-30%, with 186 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 794 $203,250,000 $255,982 $6,483 2.89%
Not provided 208 $51,700,000 $248,558 $6,657 2.84%
Black 168 $44,590,000 $265,417 $7,353 2.85%
Asian 26 $6,370,000 $245,000 $5,018 2.84%
American Indian 11 $2,985,000 $271,364 $7,044 2.86%
Other Pacific Islander 4 $950,000 $237,500 $7,528 2.91%
Asian Indian 4 $840,000 $210,000 $4,413 4.00%
Other Asian 1 $205,000 $205,000 $2,987 3.13%

Approval Rates

Total approvals of all applications
91.33%

Home Solution Lenders has an average approval rate.

Pick Rate

Approvals leading to origination
80.45%

Home Solution Lenders has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,216 $310,890,000 $255,666

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,216 $310,890,000 $255,666

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 13 $1,495,000 $115,000 $3,341 2.95%
40-60% 29 $5,245,000 $180,862 $4,228 2.85%
60-80% 153 $34,765,000 $227,222 $4,221 3.09%
80-100% 975 $255,825,000 $262,385 $6,900 2.85%
Over 100% 45 $13,555,000 $301,222 $10,679 2.77%
Under 20% 1 $5,000 $5,000 $0 0.00%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HomeKey Lending, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%