Homeamerican Mortgage Corporation Rates, Fees & Info

Centennial, CO

LEI: 5493001HHBUTXHS7TZ96

Tax ID: 84-0927358

5 stars - out of 5 stars, based on 79 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Homeamerican Mortgage Corporation is a small mortgage company specializing in Home Purchase loans. Homeamerican Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Denver, Las Vegas, Riverside, Phoenix, and Seattle among others. Homeamerican Mortgage Corporation has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Homeamerican Mortgage Corporation is typically a low fee lendor.


Originations

6,247

Origination Dollar Volume (All Markets)

$2,621,905,000
Show all (65) awards

Relative Rate

Homeamerican Mortgage Corporation's average 30 year fixed rate mortgage of loans were 2.93%.

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

This yields a difference of -0.22%.

Relative Fees

Homeamerican Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $3,195.

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
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1,107 $522,315,000 $471,829 $3,853 2.97%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 796 $303,000,000 $380,653 $2,117 2.84%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 615 $290,555,000 $472,447 $2,984 2.90%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 851 $290,495,000 $341,357 $2,334 2.89%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 266 $136,220,000 $512,105 $3,938 2.83%
JACKSONVILLE, FL (FHA|USDA|VA) 328 $99,940,000 $304,695 $3,484 2.95%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 170 $85,750,000 $504,412 $1,872 3.03%
TUCSON, AZ (FHA|USDA|VA) 249 $80,615,000 $323,755 $3,915 3.07%
GREELEY, CO (FHA|USDA|VA) 193 $79,835,000 $413,653 $2,407 2.92%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 159 $68,565,000 $431,226 $3,414 2.90%
PROVO-OREM, UT (FHA|USDA|VA) 154 $65,360,000 $424,416 $1,821 2.76%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 115 $58,515,000 $508,826 $7,142 2.96%
STOCKTON, CA (FHA|USDA|VA) 116 $55,570,000 $479,052 $2,213 2.85%
VALLEJO, CA (FHA|USDA|VA) 98 $51,920,000 $529,796 $1,761 2.86%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 82 $44,470,000 $542,317 $6,506 2.96%
SALT LAKE CITY, UT (FHA|USDA|VA) 107 $44,215,000 $413,224 $2,184 2.78%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 151 $43,205,000 $286,126 $4,185 2.91%
COLORADO SPRINGS, CO (FHA|USDA|VA) 74 $31,110,000 $420,405 $6,286 2.82%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 68 $30,760,000 $452,353 $5,373 2.84%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 69 $28,655,000 $415,290 $1,668 2.73%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 32 $24,710,000 $772,188 $2,151 2.91%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 40 $24,320,000 $608,000 $2,516 2.88%
FORT COLLINS, CO (FHA|USDA|VA) 49 $22,625,000 $461,735 $3,106 2.92%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 68 $19,190,000 $282,206 $3,462 2.94%
BOULDER, CO (FHA|USDA|VA) 37 $18,485,000 $499,595 $2,741 3.16%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 26 $15,410,000 $592,692 $2,232 2.98%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 45 $13,385,000 $297,444 $2,356 3.05%
YUBA CITY, CA (FHA|USDA|VA) 31 $12,995,000 $419,194 $2,332 3.03%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 35 $12,695,000 $362,714 $3,437 2.98%
Outside of Metro Areas 36 $12,640,000 $351,111 $3,808 2.83%
WINCHESTER, VA-WV (FHA|USDA|VA) 30 $11,560,000 $385,333 $2,206 2.99%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 13 $6,555,000 $504,231 $1,880 2.55%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 10 $6,360,000 $636,000 $5,423 2.80%
PUEBLO, CO (FHA|USDA|VA) 14 $4,840,000 $345,714 $5,603 2.56%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 10 $4,320,000 $432,000 $5,428 2.58%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $610,000 $305,000 $5,352 2.56%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $135,000 $135,000 $4,765 2.88%

Homeamerican Mortgage Corporation's top markets include Denver, Las Vegas, Riverside, Phoenix, and Seattle among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,089 $1,707,995,000 $417,705 $1,190 3.01%
FHA 1,082 $421,350,000 $389,418 $7,429 2.79%
VA 1,043 $482,195,000 $462,315 $6,282 2.66%
USDA 33 $10,365,000 $314,091 $3,605 2.47%

For the 2021 period, Homeamerican Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 4,089 originations. Their 2nd most popular type is FHA, with 1,082 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 6,247 $2,621,905,000 $419,706 $3,135 2.91%

For the 2021, Homeamerican Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 6,247 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 6,038 $2,561,780,000 $424,276 $3,195 2.93%
15 Year 162 $44,720,000 $276,049 $1,362 2.33%
20 Year 40 $13,690,000 $342,250 $1,614 2.69%
10 Year 6 $1,280,000 $213,333 $684 2.21%
Other 1 $435,000 $435,000 $4,584 2.88%

For the 2021, Homeamerican Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 6,038 originations. The 2nd most popular length of loans were 15 Year, with 162 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 5,000 $2,069,220,000 $413,844
$1k-2k 837 $364,315,000 $435,263
$2k-3k 165 $71,885,000 $435,667
$5k+ 129 $65,335,000 $506,473
$3k-4k 116 $51,150,000 $440,948

$3,195 of loans were Homeamerican Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 5,000 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,891 $1,223,225,000 $423,115
3-4% 2,128 $920,130,000 $432,392
<2.5% 1,174 $459,320,000 $391,244
4-5% 54 $19,230,000 $356,111

During 2021, Homeamerican Mortgage Corporation's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,891 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 3,015 $1,471,855,000 $488,177 $3,183 2.92%
$200k-400k 2,594 $835,360,000 $322,035 $2,807 2.89%
$600k-1MM 398 $269,940,000 $678,241 $5,939 2.95%
$100k-200k 187 $27,265,000 $145,802 $1,261 2.79%
$100,000 or less 40 $2,780,000 $69,500 $723 2.71%
$1MM+ 13 $14,705,000 $1,131,154 $5,758 2.93%

2021 saw Homeamerican Mortgage Corporation place emphasis on $400k-600k loans with 3,015 originations, totaling $1,471,855,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 2,253 $995,685,000 $441,937 $3,177 2.94%
$150k-250k 1,322 $649,340,000 $491,180 $2,847 2.96%
$75k-100k 1,305 $505,855,000 $387,628 $3,239 2.88%
$50k-75k 978 $319,480,000 $326,667 $3,645 2.80%
$250k+ 218 $114,800,000 $526,606 $2,317 3.02%
$50k or less 171 $36,745,000 $214,883 $2,145 2.82%

Homeamerican Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 2,253 originations. The second most popular income band? $150k-250k, with 1,322 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 1,066 $452,910,000 $424,869 $2,484 2.93%
20-30% 1,018 $428,930,000 $421,346 $2,086 2.91%
50-60% 646 $267,810,000 $414,567 $6,648 2.76%
49% 265 $102,355,000 $386,245 $2,857 2.86%
42% 261 $115,705,000 $443,314 $3,130 2.99%
43% 254 $109,020,000 $429,213 $2,957 2.97%
41% 249 $109,365,000 $439,217 $3,040 2.93%
<20% 245 $77,875,000 $317,857 $1,515 2.83%
39% 242 $106,170,000 $438,719 $3,020 2.96%
44% 239 $102,355,000 $428,264 $2,894 2.98%
37% 234 $100,410,000 $429,103 $2,957 2.93%
40% 224 $96,560,000 $431,071 $2,648 2.92%
38% 218 $93,020,000 $426,697 $2,961 2.96%
45% 217 $92,465,000 $426,106 $2,983 2.96%
47% 213 $86,865,000 $407,817 $3,417 2.94%
46% 207 $87,425,000 $422,343 $3,458 2.89%
48% 203 $84,625,000 $416,872 $3,612 2.92%
36% 196 $84,030,000 $428,724 $2,625 2.90%
>60% 50 $24,010,000 $480,200 $7,411 2.75%

Homeamerican Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 1,066 originations. The next most common DTI ratio? 20-30%, with 1,018 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,713 $1,525,225,000 $410,780 $3,099 2.90%
Asian 776 $354,270,000 $456,534 $2,438 2.93%
Not provided 847 $353,215,000 $417,019 $3,386 2.88%
Black 612 $260,680,000 $425,948 $4,493 2.89%
American Indian 101 $41,945,000 $415,297 $3,440 2.87%
Asian Indian 61 $29,675,000 $486,475 $567 3.05%
Filipino 46 $19,830,000 $431,087 $1,019 3.03%
Other Asian 24 $10,430,000 $434,583 $1,112 3.10%
Vietnamese 12 $5,480,000 $456,667 $859 3.14%
Chinese 13 $5,045,000 $388,077 $1,360 3.06%
Native Hawaiian 14 $5,010,000 $357,857 $2,136 2.88%
Korean 10 $4,050,000 $405,000 $1,776 2.84%
Other Pacific Islander 8 $3,340,000 $417,500 $2,287 2.86%
Japanese 4 $1,600,000 $400,000 $910 2.88%
Samoan 3 $1,245,000 $415,000 $4,573 2.96%
3 $865,000 $288,333 $500 3.13%

Approval Rates

Total approvals of all applications
88.35%

Homeamerican Mortgage Corporation has an average approval rate.

Pick Rate

Approvals leading to origination
64.72%

Homeamerican Mortgage Corporation 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 6,247 $2,621,905,000 $419,706

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,247 $2,621,905,000 $419,706

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 184 $34,180,000 $185,761 $1,521 2.71%
40-60% 359 $111,415,000 $310,348 $1,558 2.80%
60-80% 1,330 $577,680,000 $434,346 $1,594 2.97%
80-100% 3,973 $1,730,925,000 $435,672 $2,995 2.93%
Over 100% 340 $162,290,000 $477,324 $13,667 2.67%
Under 20% 61 $5,415,000 $88,770 $1,239 2.68%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Home American Mortgage Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
Home American Mortgage Corp Conventional home mortgage Closing on a mortgage 3 42.9%
Home American Mortgage Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
Home American Mortgage Corp VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
Home American Mortgage Corp VA mortgage Closing on a mortgage 1 14.3%