Home Solution Lenders Mortgage Rates, Fees & Info

BARTOW, FL

LEI: 54930012OSP7Z8V2FB74

Tax ID: 26-1796172

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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 an average proportion of conventional loans. Their top markets by origination volume include: Lakeland, Tampa, Jacksonville, Ocala, and Orlando among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Home Solution Lenders has an 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 an average 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% 11/17/24
30 Year Conventional Refi 6.65% 11/17/24
30 Year Cash-out Refi 6.62% 11/17/24
30 Year FHA Purchase 7.19% 11/17/24
30 Year VA Purchase 6.17% 11/17/24
30 Year VA Refi 6.38% 11/17/24
30 Year USDA Purchase 6.69% 11/17/24
15 Year Conventional Purchase 6.22% 11/17/24
15 Year VA Purchase 5.63% 11/17/24
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

413

Origination Dollar Volume (All Markets)

$82,915,000
Show all (5) awards

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
Outside of Metro Areas 178 $37,480,000 $210,562 $6,547 4.61%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 149 $27,605,000 $185,268 $6,255 4.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 35 $6,855,000 $195,857 $5,754 4.52%
JACKSONVILLE, FL (FHA|USDA|VA) 21 $4,955,000 $235,952 $4,058 4.80%
OCALA, FL (FHA|USDA|VA) 17 $3,495,000 $205,588 $6,146 4.60%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $1,500,000 $187,500 $6,516 4.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $515,000 $171,667 $5,313 4.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $435,000 $435,000 $5,476 5.75%
Wauchula, FL (FHA|USDA|VA) 1 $75,000 $75,000 $4,563 5.13%
Home Solution Lenders's top markets include Lakeland, Tampa, Jacksonville, Ocala, and Orlando among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 203 $40,805,000 $201,010 $7,574 4.60%
    Conventional 108 $20,230,000 $187,315 $3,975 4.90%
    VA 54 $12,220,000 $226,296 $5,364 4.51%
    USDA 48 $9,660,000 $201,250 $6,380 4.56%

    For 2018, Home Solution Lenders's most frequently originated type of loan was FHA, with 203 originations. Their 2nd most popular type was Conventional, with 108 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 402 $80,910,000 $201,269 $6,257 4.66%
    Cash Out Refi 7 $1,145,000 $163,571 $4,919 4.88%
    Refi 3 $855,000 $285,000 $3,434 5.12%
    Other 1 $5,000 $5,000 $0 0.00%

    For 2018, Home Solution Lenders's most frequently cited loan purpose was Home Purchase, with 402 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 407 $82,115,000 $201,757 $6,237 4.66%
    15 Year 4 $600,000 $150,000 $3,856 4.56%
    20 Year 1 $195,000 $195,000 $6,229 4.75%
    Other 1 $5,000 $5,000 $0 0.00%

    For 2018, Home Solution Lenders's most frequently cited loan duration was 30 Year, with 407 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 118 $22,490,000 $190,593
    $<1k 106 $21,690,000 $204,623
    $2k-3k 88 $17,480,000 $198,636
    $3k-4k 51 $10,755,000 $210,882
    $4k-5k 25 $5,515,000 $220,600
    $5k+ 20 $4,380,000 $219,000

    Home Solution Lenders's average total fees were $6,237, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 118 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 321 $65,645,000 $204,502
    5-6% 54 $10,050,000 $186,111
    3-4% 34 $7,200,000 $211,765

    During 2018, Home Solution Lenders's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 321 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 206 $35,490,000 $172,282 $5,517 4.74%
    $200k-400k 188 $44,460,000 $236,489 $7,106 4.54%
    $100,000 or less 14 $760,000 $54,286 $4,133 5.13%
    $400k-600k 5 $2,205,000 $441,000 $5,743 5.03%

    2018 saw Home Solution Lenders place emphasis on $100k-200k loans with 206 originations, totaling $35,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 185 $36,885,000 $199,378 $6,338 4.60%
    $50k or less 90 $14,730,000 $163,667 $5,745 4.69%
    $75k-100k 73 $15,765,000 $215,959 $6,492 4.67%
    $100k-150k 52 $12,170,000 $234,038 $6,568 4.78%
    $150k-250k 12 $3,130,000 $260,833 $4,624 4.92%
    $250k+ 1 $235,000 $235,000 $2,868 4.25%

    Home Solution Lenders lent most frequently to those with incomes in the $50k-75k range, with 185 originations. The second most popular income band? $50k or less, with 90 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 79 $17,095,000 $216,392 $7,373 4.53%
    30-36% 65 $13,285,000 $204,385 $6,167 4.65%
    20-30% 31 $5,765,000 $185,968 $5,122 4.76%
    38% 22 $4,370,000 $198,636 $5,968 4.74%
    43% 19 $3,985,000 $209,737 $5,655 4.72%
    48% 19 $3,755,000 $197,632 $6,649 4.67%
    42% 18 $3,530,000 $196,111 $6,828 4.68%
    37% 18 $3,430,000 $190,556 $6,002 4.58%
    46% 17 $3,785,000 $222,647 $5,569 4.76%
    40% 16 $2,810,000 $175,625 $5,289 4.72%
    44% 15 $2,905,000 $193,667 $5,449 4.72%
    49% 14 $2,860,000 $204,286 $5,471 4.85%
    39% 14 $2,780,000 $198,571 $6,093 4.88%
    45% 14 $2,810,000 $200,714 $6,182 4.73%
    47% 13 $2,405,000 $185,000 $6,866 4.64%
    36% 13 $2,405,000 $185,000 $6,696 4.74%
    41% 11 $2,565,000 $233,182 $6,157 4.38%
    <20% 9 $1,635,000 $181,667 $4,546 4.64%
    >60% 5 $735,000 $147,000 $5,509 4.63%

    Home Solution Lenders lent most frequently to those with DTI ratios of 50-60%, with 79 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 329 $65,265,000 $198,374 $6,111 4.67%
    Black 66 $14,040,000 $212,727 $6,699 4.66%
    Native Hawaiian or Islander 5 $1,055,000 $211,000 $6,056 4.53%
    Asian 6 $1,050,000 $175,000 $5,304 4.60%
    Not provided 3 $675,000 $225,000 $6,711 4.54%
    American Indian 3 $615,000 $205,000 $6,243 4.50%
    Asian Indian 1 $215,000 $215,000 $12,420 4.00%

    Approval Rates

    Total approvals of all applications
    82.38%

    Home Solution Lenders has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.16%

    Home Solution Lenders has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 413 $82,915,000 $200,763

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $290,000 $145,000
    Single Family (1-4 Units):Site-Built 411 $82,625,000 $201,034

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $115,000 $115,000 $6,372 4.38%
    40-60% 8 $1,100,000 $137,500 $2,935 4.72%
    60-80% 40 $7,220,000 $180,500 $4,129 4.91%
    80-100% 347 $71,005,000 $204,625 $6,411 4.64%
    Over 100% 13 $3,455,000 $265,769 $9,412 4.46%
    Under 20% 3 $15,000 $5,000 $0 0.00%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    HomeKey Lending, LLC FHA mortgage Closing on a mortgage 1 100.0%