Dhi Mortgage Company Limited
Austin, TX 78750LEI: 5493001SXWZ4OFP8Z903
Tax ID: 74-2853239
2019 Data
Overview
Dhi Mortgage Company Limited is a large mortgage company specializing in and Home Purchase loans. Dhi Mortgage Company Limited has a high proportion of conventional loans and an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Dallas, Houston, Atlanta, Austin, and San Antonio among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Dhi Mortgage Company Limited is typically a low fee lendor.Originations
36,654Origination Dollar Volume (All Markets)
$9,315,630,000Product Mix
Conventional / 19,092 / $4,755,040,000FHA / 10,076 / $2,493,220,000
VA / 6,905 / $1,938,275,000
USDA / 581 / $129,095,000
Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.
Loan Reason
Home Purchase / 36,471 / $9,256,515,000Refi / 126 / $42,380,000
Cash Out Refi / 57 / $16,735,000
Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.
Top Markets
DALLAS-PLANO-IRVING, TX / $652,550,000HOUSTON-THE WOODLANDS-SUGAR LAND, TX / $564,090,000
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA / $440,460,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX / $363,665,000
SAN ANTONIO-NEW BRAUNFELS, TX / $347,510,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX / $295,475,000
SEATTLE-BELLEVUE-KENT, WA / $289,330,000
JACKSONVILLE, FL / $283,670,000
PHOENIX-MESA-CHANDLER, AZ / $281,635,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL / $259,120,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC / $254,070,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA / $242,200,000
LAS VEGAS-HENDERSON-PARADISE, NV / $224,660,000
ORLANDO-KISSIMMEE-SANFORD, FL / $204,600,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI / $159,820,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA / $143,575,000
CHARLESTON-NORTH CHARLESTON, SC / $129,145,000
DENVER-AURORA-LAKEWOOD, CO / $128,895,000
URBAN HONOLULU, HI / $123,095,000
LAKELAND-WINTER HAVEN, FL / $121,980,000
KILLEEN-TEMPLE, TX / $116,940,000
NORTH PORT-SARASOTA-BRADENTON, FL / $113,650,000
CAPE CORAL-FORT MYERS, FL / $108,515,000
PALM BAY-MELBOURNE-TITUSVILLE, FL / $102,385,000
TUCSON, AZ / $94,265,000
Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.
Interest Rate & Spreads
<2.5% / 2 / $1,800,0002.5-3% / 2,678 / $695,090,000
3-4% / 17,257 / $4,601,335,000
4-5% / 14,019 / $3,526,275,000
5-6% / 2,009 / $463,635,000
6-7% / 107 / $23,645,000
7-8% / 8 / $130,000
Loan Sizing
$100,000 or less / 1,304 / $49,340,000$100k-200k / 7,569 / $1,295,815,000
$200k-400k / 25,129 / $6,643,045,000
$400k-600k / 2,262 / $1,043,910,000
$600k-1000k / 371 / $260,645,000
$Over $1MM / 19 / $22,875,000
Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.
LTV Distribution
20-40% / 678 / $69,700,00040-60% / 1,375 / $236,845,000
60-80% / 5,657 / $1,432,435,000
80-100% / 25,797 / $6,867,625,000
Over 100% / 2,358 / $698,570,000
Under 20% / 789 / $10,455,000
LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.
Applicant Income
$100k-150k / 8,058 / $2,391,750,000$150k-250k / 2,923 / $982,455,000
$50k-75k / 12,145 / $2,669,885,000
$50k-or less / 3,502 / $629,000,000
$75k-100k / 9,053 / $2,322,585,000
$Over $250k / 652 / $232,590,000
Ethnicity Mix
White / 20,700 / $5,088,100,000Not provided / 7,471 / $1,908,495,000
Black / 5,042 / $1,240,270,000
Asian / 2,966 / $947,220,000
American Indian / 218 / $53,090,000
Native Hawaiian / 107 / $38,755,000
Asian Indian / 75 / $19,815,000
Other Asian / 25 / $6,955,000
Filipino / 14 / $3,760,000
Other Pacific Islander / 14 / $3,700,000
Chinese / 9 / $2,265,000
Vietnamese / 5 / $1,025,000
Korean / 3 / $635,000
Native Hawiian / 2 / $490,000
Guamanian / 1 / $485,000
Japanese / 1 / $325,000
Samoan / 1 / $245,000
Approval Rates
Total approvals of all applications88.20%
A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.
Pick Rate
Approvals leading to origination70.49%
A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.
Points and Fees
0.0 / 518 / $3,320,000NA / 36,136 / $9,312,310,000
Origination Fees
$<1k / 25,071 / $6,324,685,000$1k-2k / 4,149 / $1,054,635,000
$2k-3k / 2,927 / $776,695,000
$3k-4k / 2,170 / $640,340,000
$5k+ / 834 / $312,650,000
Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.