Home Mortgage Bankers Corp. Rates, Fees & Info

Carolina,

LEI: 54930024L8BYJXUEP897

Tax ID: 66-0669989

1 stars - Updated: 2/25/24 - out of 5 stars, based on 23 reviews

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

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Mortgage Data

Review & Overview

Home Mortgage Bankers Corp. is a smaller bank specializing in Home Purchase loans. They have a a high proportion of FHA loans. Home Mortgage Bankers Corp. has a low ratio of conventional loans. Their top markets by origination volume include: San Juan, Arecibo, Aguadilla, Ponce, and Santa Isabel among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Home Mortgage Bankers Corp. 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 Mortgage Bankers Corp. 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 relatively high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.57% 2/25/24
30 Year Conventional Refi 7.46% 2/25/24
30 Year Cash-out Refi 7.31% 2/25/24
30 Year FHA Purchase 8.05% 2/25/24
30 Year FHA Refi 6.27% 2/25/24
30 Year VA Purchase 6.27% 2/25/24
30 Year USDA Purchase 7.40% 2/25/24
15 Year Conventional Refi 5.68% 2/25/24
15 Year Cash-out Refi 5.68% 2/25/24
15 Year FHA Purchase 5.68% 2/25/24
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 Mortgage Bankers Corp. Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Home Mortgage Bankers Corp.. 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

536

Origination Dollar Volume (All Markets)

$70,270,000

Relative Rate

Home Mortgage Bankers Corp.'s average 30 year fixed mortgage rate was 5.61%.

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

This yields a difference of 0.85%.

Relative Fees (Closing Costs)

Home Mortgage Bankers Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $9,067.

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
SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 489 $64,725,000 $132,362 $9,168 5.58%
Arecibo, PR (FHA|USDA|VA) 15 $1,615,000 $107,667 $6,635 6.17%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 10 $1,510,000 $151,000 $11,001 6.33%
PONCE, PR (FHA|USDA|VA) 6 $660,000 $110,000 $7,073 5.71%
Santa Isabel, PR (FHA|USDA|VA) 3 $435,000 $145,000 $9,668 5.42%
SAN GERMÁN, PR (FHA|USDA|VA) 3 $415,000 $138,333 $9,522 6.25%
GUAYAMA, PR (FHA|USDA|VA) 4 $340,000 $85,000 $6,782 5.63%
YAUCO, PR (FHA|USDA|VA) 2 $200,000 $100,000 $6,573 5.38%
MAYAGÜEZ, PR (FHA|USDA|VA) 1 $95,000 $95,000 $4,638 5.25%
Jayuya, PR (FHA|USDA|VA) 1 $95,000 $95,000 $6,330 4.75%
Coco, PR (FHA|USDA|VA) 1 $95,000 $95,000 $6,655 6.75%
Coamo, PR (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.75%
Home Mortgage Bankers Corp.'s top markets include San Juan, Arecibo, Aguadilla, Ponce, and Santa Isabel among others.

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

    We use machine learning to identify the top lenders compared against HOME MORTGAGE BANKERS CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 144
    Oriental Bank
    Similarity Rank: 312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 340 $45,510,000 $133,853 $9,779 5.66%
    USDA 152 $17,920,000 $117,895 $7,620 5.59%
    Conventional 26 $3,440,000 $132,308 $6,699 5.20%
    VA 18 $3,400,000 $188,889 $11,207 5.38%

    For 2022, Home Mortgage Bankers Corp.'s most frequently originated type of loan was FHA, with 340 originations. Their 2nd most popular type was USDA, with 152 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 517 $67,645,000 $130,841 $9,084 5.63%
    Cash Out Refi 15 $2,125,000 $141,667 $9,328 5.08%
    Refi 4 $500,000 $125,000 $7,543 5.44%

    For 2022, Home Mortgage Bankers Corp.'s most frequently cited loan purpose was Home Purchase, with 517 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 526 $68,890,000 $130,970 $9,067 5.61%
    15 Year 5 $635,000 $127,000 $10,727 5.45%
    Other 3 $505,000 $168,333 $10,440 6.00%
    20 Year 2 $240,000 $120,000 $0 5.69%

    For 2022, Home Mortgage Bankers Corp.'s most frequently cited loan duration was 30 Year, with 526 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 112 $12,100,000 $108,036
    $5k+ 96 $20,240,000 $210,833
    $2k-3k 91 $7,865,000 $86,429
    $4k-5k 78 $10,630,000 $136,282
    $1k-2k 15 $1,045,000 $69,667
    $<1k 11 $1,635,000 $148,636

    Home Mortgage Bankers Corp.'s average total fees were $9,067, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 112 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 201 $26,245,000 $130,572
    6-7% 142 $19,810,000 $139,507
    4-5% 89 $11,275,000 $126,685
    3-4% 71 $8,505,000 $119,789
    7-8% 28 $3,070,000 $109,643
    2.5-3% 3 $965,000 $321,667

    During 2022, Home Mortgage Bankers Corp.'s average interest rate for loans was 5.61%, while their most frequently originated rate bucket for loans was 5-6%, with 201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 289 $39,595,000 $137,007 $9,291 5.52%
    $100,000 or less 189 $15,245,000 $80,661 $6,408 5.71%
    $200k-400k 54 $13,750,000 $254,630 $15,466 5.75%
    $400k-600k 4 $1,680,000 $420,000 $22,429 5.25%

    2022 saw Home Mortgage Bankers Corp. place emphasis on $100k-200k loans with 289 originations, totaling $39,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 335 $35,225,000 $105,149 $7,836 5.60%
    $50k-75k 118 $17,680,000 $149,831 $9,638 5.53%
    $75k-100k 46 $9,160,000 $199,130 $12,279 5.81%
    $100k-150k 22 $4,910,000 $223,182 $13,608 5.80%
    $150k-250k 8 $1,810,000 $226,250 $15,306 5.98%
    $250k+ 3 $805,000 $268,333 $19,642 5.58%

    Home Mortgage Bankers Corp. lent most frequently to those with incomes in the $50k or less range, with 335 originations. The second most popular income band? $50k-75k, with 118 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 121 $14,735,000 $121,777 $8,340 5.53%
    20-30% 63 $7,755,000 $123,095 $8,171 5.44%
    39% 26 $3,720,000 $143,077 $10,192 5.54%
    40% 26 $3,060,000 $117,692 $8,239 5.54%
    37% 26 $2,990,000 $115,000 $7,952 5.60%
    38% 25 $3,025,000 $121,000 $9,060 5.65%
    43% 24 $3,320,000 $138,333 $9,934 5.56%
    45% 24 $3,450,000 $143,750 $10,997 5.63%
    50-60% 24 $4,550,000 $189,583 $13,044 5.89%
    48% 23 $3,125,000 $135,870 $9,697 5.99%
    42% 22 $2,880,000 $130,909 $9,274 5.67%
    36% 22 $2,610,000 $118,636 $6,578 5.58%
    44% 21 $2,725,000 $129,762 $8,912 5.82%
    41% 20 $2,590,000 $129,500 $8,962 6.01%
    47% 19 $2,785,000 $146,579 $10,149 5.53%
    49% 17 $2,295,000 $135,000 $9,628 5.78%
    46% 14 $1,970,000 $140,714 $10,873 5.39%
    <20% 12 $1,550,000 $129,167 $8,510 5.44%

    Home Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 30-36%, with 121 originations. The next most common DTI ratio? 20-30%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 520 $68,250,000 $131,250 $9,062 5.62%
    Black 13 $1,675,000 $128,846 $9,737 5.13%
    American Indian 2 $280,000 $140,000 $10,344 5.50%
    Not provided 1 $65,000 $65,000 $5,760 4.50%

    Approval Rates

    Total approvals of all applications
    97.69%

    Home Mortgage Bankers Corp. 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
    80.04%

    Home Mortgage Bankers Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 536 $70,270,000 $131,101

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    536 $70,270,000 $131,101

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $265,000 $88,333 $7,040 6.67%
    40-60% 23 $1,385,000 $60,217 $5,557 6.26%
    60-80% 103 $9,825,000 $95,388 $7,459 5.83%
    80-100% 379 $54,725,000 $144,393 $9,495 5.53%
    Over 100% 27 $3,855,000 $142,778 $11,945 5.23%
    Under 20% 1 $215,000 $215,000 $12,563 4.25%