Home Solution Lenders Mortgage Rates, Fees & Info

BARTOW, FL

LEI: 54930012OSP7Z8V2FB74

Tax ID: 26-1796172

2.8 stars - out of 5 stars, based on 28 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Home Solution Lenders is a smaller mortgage company specializing in loans. Home Solution Lenders has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Lakeland, Tampa, Ocala, Orlando, and North Port among others. We have data for 10 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 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 6.74% 3/29/23
    30 Year Conventional Refi 6.65% 3/29/23
    30 Year Cash-out Refi 6.62% 3/29/23
    30 Year FHA Purchase 7.19% 3/29/23
    30 Year VA Purchase 6.17% 3/29/23
    30 Year VA Refi 6.38% 3/29/23
    30 Year USDA Purchase 6.69% 3/29/23
    15 Year Conventional Purchase 6.22% 3/29/23
    15 Year VA Purchase 5.63% 3/29/23
    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.


    Originations

    787

    Origination Dollar Volume (All Markets)

    $232,385,000
    Show all (14) awards

    Relative Rate

    Home Solution Lenders's average 30 year fixed mortgage rate was 4.66%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Home Solution Lenders's average total fees/closing costs for a 30 year fixed rate mortgage were $8,983.

    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 $4,750.

    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) 489 $147,095,000 $300,808 $9,198 4.80%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 99 $28,695,000 $289,848 $7,477 4.04%
    OCALA, FL (FHA|USDA|VA) 79 $19,575,000 $247,785 $7,620 4.59%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 55 $19,295,000 $350,818 $11,038 4.50%
    Outside of Metro Areas 32 $9,390,000 $293,438 $10,539 4.54%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 13 $3,615,000 $278,077 $6,511 4.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 10 $2,340,000 $234,000 $6,984 4.84%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 8 $2,170,000 $271,250 $10,122 4.11%
    Douglas, GA (FHA|USDA|VA) 1 $115,000 $115,000 $5,365 4.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,162 5.99%
    Home Solution Lenders's top markets include Lakeland, Tampa, Ocala, Orlando, and North Port among others.

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

    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 1048
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1272
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 1274
    SAN ANTONIO CITIZENS
    Similarity Rank: 1280
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1410
    Citizens First Bank
    Similarity Rank: 1596
    Chicago Financial Services, Inc.
    Similarity Rank: 2356
    BANKERS MORTGAGE LENDING, INC.
    Similarity Rank: 2556
    JAX
    Similarity Rank: 2673
    SHELTER MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 2790

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 331 $89,945,000 $271,737 $6,176 4.84%
    FHA 324 $100,360,000 $309,753 $12,274 4.58%
    VA 111 $36,355,000 $327,523 $7,395 4.32%
    USDA 21 $5,725,000 $272,619 $8,863 4.12%

    For 2022, Home Solution Lenders's most frequently originated type of loan was Conventional, with 331 originations. Their 2nd most popular type was FHA, with 324 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 773 $228,085,000 $295,065 $8,979 4.64%
    Cash Out Refi 10 $3,020,000 $302,000 $6,484 4.65%
    Refi 4 $1,280,000 $320,000 $5,613 4.69%

    For 2022, Home Solution Lenders's most frequently cited loan purpose was Home Purchase, with 773 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 764 $226,230,000 $296,113 $8,983 4.66%
    15 Year 9 $2,025,000 $225,000 $5,529 3.81%
    30+ year 9 $2,705,000 $300,556 $8,435 4.28%
    Other 4 $1,300,000 $325,000 $9,128 3.63%
    10 Year 1 $125,000 $125,000 $3,169 3.38%

    For 2022, Home Solution Lenders's most frequently cited loan duration was 30 Year, with 764 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 291 $92,915,000 $319,296
    $4k-5k 124 $37,320,000 $300,968
    $2k-3k 122 $32,460,000 $266,066
    $3k-4k 118 $32,240,000 $273,220
    $1k-2k 73 $20,185,000 $276,507
    $<1k 59 $17,265,000 $292,627

    Home Solution Lenders's average total fees were $8,983, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 291 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 241 $67,385,000 $279,606
    4-5% 207 $62,975,000 $304,227
    5-6% 164 $49,930,000 $304,451
    6-7% 85 $26,845,000 $315,824
    2.5-3% 57 $16,255,000 $285,175
    7-8% 26 $8,010,000 $308,077
    <2.5% 6 $790,000 $131,667
    Over 8% 1 $195,000 $195,000

    During 2022, Home Solution Lenders's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 3-4%, with 241 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 677 $201,145,000 $297,112 $9,069 4.58%
    $100k-200k 55 $8,535,000 $155,182 $5,254 4.86%
    $400k-600k 47 $20,575,000 $437,766 $11,987 5.46%
    $100,000 or less 5 $205,000 $41,000 $1,222 2.50%
    $600k-1MM 3 $1,925,000 $641,667 $9,921 5.33%

    2022 saw Home Solution Lenders place emphasis on $200k-400k loans with 677 originations, totaling $201,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 231 $71,615,000 $310,022 $8,929 4.89%
    $75k-100k 226 $68,020,000 $300,973 $9,589 4.64%
    $50k-75k 225 $61,795,000 $274,644 $8,746 4.27%
    $150k-250k 64 $20,760,000 $324,375 $8,697 5.18%
    $50k or less 33 $7,075,000 $214,394 $6,362 4.23%
    $250k+ 8 $3,120,000 $390,000 $8,037 5.06%

    Home Solution Lenders lent most frequently to those with incomes in the $100k-150k range, with 231 originations. The second most popular income band? $75k-100k, with 226 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 144 $46,060,000 $319,861 $11,927 4.82%
    30-36% 109 $29,965,000 $274,908 $7,650 4.42%
    20-30% 62 $16,730,000 $269,839 $6,513 4.54%
    49% 36 $10,690,000 $296,944 $9,888 5.04%
    36% 35 $10,345,000 $295,571 $8,033 4.72%
    47% 35 $10,755,000 $307,286 $8,431 4.72%
    43% 34 $9,890,000 $290,882 $8,612 4.55%
    38% 34 $10,310,000 $303,235 $9,914 4.57%
    45% 33 $9,695,000 $293,788 $9,941 4.40%
    42% 31 $10,135,000 $326,935 $7,612 4.67%
    41% 31 $9,155,000 $295,323 $8,814 4.53%
    44% 30 $8,990,000 $299,667 $8,186 4.62%
    37% 30 $9,140,000 $304,667 $8,780 4.68%
    48% 30 $9,240,000 $308,000 $10,625 4.97%
    46% 29 $8,705,000 $300,172 $8,027 4.62%
    40% 29 $7,715,000 $266,034 $7,206 4.42%
    39% 27 $7,495,000 $277,593 $8,513 4.44%
    <20% 22 $5,330,000 $242,273 $5,011 4.69%
    >60% 6 $2,040,000 $340,000 $10,696 4.98%

    Home Solution Lenders lent most frequently to those with DTI ratios of 50-60%, with 144 originations. The next most common DTI ratio? 30-36%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 476 $139,700,000 $293,487 $8,473 4.58%
    Black 159 $47,755,000 $300,346 $10,041 4.60%
    Not provided 116 $33,870,000 $291,983 $9,497 4.91%
    Asian 23 $7,125,000 $309,783 $7,554 4.62%
    American Indian 6 $2,150,000 $358,333 $12,246 4.60%
    Other Pacific Islander 4 $1,170,000 $292,500 $9,755 4.78%
    Asian Indian 1 $225,000 $225,000 $3,227 4.75%
    Native Hawaiian or Islander 1 $225,000 $225,000 $3,369 3.88%
    Filipino 1 $165,000 $165,000 $4,092 6.88%

    Approval Rates

    Total approvals of all applications
    95.74%

    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
    88.82%

    Home Solution Lenders has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 787 $232,385,000 $295,280

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    787 $232,385,000 $295,280

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,290,000 $129,000 $4,658 5.20%
    40-60% 33 $5,845,000 $177,121 $5,299 4.72%
    60-80% 125 $32,825,000 $262,600 $6,723 4.88%
    80-100% 589 $183,845,000 $312,131 $9,546 4.62%
    Over 100% 26 $8,470,000 $325,769 $13,115 4.18%
    Under 20% 4 $110,000 $27,500 $737 1.63%