Home Solution Lenders Mortgage Rates, Fees & Info
BARTOW, FLLEI: 54930012OSP7Z8V2FB74
Tax ID: 26-1796172
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Mortgage 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
1,216Origination Dollar Volume (All Markets)
$310,890,000Awards
HOME SOLUTION LENDERS - 2021
HOME SOLUTION LENDERS is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications91.33%
Home Solution Lenders has an average approval rate.
Pick Rate
Approvals leading to origination80.45%
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% |
