Home Mortgage Bankers Corp. Rates, Fees & Info

Carolina,

LEI: 54930024L8BYJXUEP897

Tax ID: 66-0669989

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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, Aguadilla, Ponce, Arecibo, and Coco among others. We have data for 7 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 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 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% 3/24/24
30 Year Conventional Refi 7.46% 3/24/24
30 Year Cash-out Refi 7.31% 3/24/24
30 Year FHA Purchase 8.05% 3/24/24
30 Year FHA Refi 6.27% 3/24/24
30 Year VA Purchase 6.27% 3/24/24
30 Year USDA Purchase 7.40% 3/24/24
15 Year Conventional Refi 5.68% 3/24/24
15 Year Cash-out Refi 5.68% 3/24/24
15 Year FHA Purchase 5.68% 3/24/24
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

110

Origination Dollar Volume (All Markets)

$12,470,000

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) 103 $11,775,000 $114,320 $6,851 5.19%
Outside of Metro Areas 1 $245,000 $245,000 $10,412 5.50%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 2 $140,000 $70,000 $6,744 5.13%
PONCE, PR (FHA|USDA|VA) 1 $95,000 $95,000 $4,827 5.75%
Arecibo, PR (FHA|USDA|VA) 1 $95,000 $95,000 $4,375 5.25%
Coco, PR (FHA|USDA|VA) 1 $75,000 $75,000 $7,079 5.00%
Santa Isabel, PR (FHA|USDA|VA) 1 $45,000 $45,000 $2,810 6.25%
Home Mortgage Bankers Corp.'s top markets include San Juan, Aguadilla, Ponce, Arecibo, and Coco 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.

    Cooperativa A/C Oriental
    Similarity Rank: 48
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    Cooperativa A/C de Arecibo
    Similarity Rank: 108
    Scotiabank de Puerto Rico
    Similarity Rank: 312
    The Lending Center Corporation
    Similarity Rank: 368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 67 $8,045,000 $120,075 $7,529 5.27%
    USDA 33 $3,235,000 $98,030 $5,638 5.01%
    Conventional 5 $475,000 $95,000 $4,670 5.55%
    VA 5 $715,000 $143,000 $6,593 5.40%

    For 2018, Home Mortgage Bankers Corp.'s most frequently originated type of loan was FHA, with 67 originations. Their 2nd most popular type was USDA, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 106 $12,130,000 $114,434 $6,800 5.21%
    Cash Out Refi 4 $340,000 $85,000 $6,875 5.06%

    For 2018, Home Mortgage Bankers Corp.'s most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 109 $12,375,000 $113,532 $6,822 5.20%
    20 Year 1 $95,000 $95,000 $4,827 5.75%

    For 2018, Home Mortgage Bankers Corp.'s most frequently cited loan duration was 30 Year, with 109 originations. The 2nd most popular length was 20 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 33 $3,405,000 $103,182
    $1k-2k 28 $2,330,000 $83,214
    $3k-4k 17 $2,015,000 $118,529
    $<1k 6 $660,000 $110,000
    $5k+ 5 $1,245,000 $249,000
    $4k-5k 4 $600,000 $150,000

    Home Mortgage Bankers Corp.'s average total fees were $6,822, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 58 $6,610,000 $113,966
    5-6% 51 $5,815,000 $114,020
    6-7% 1 $45,000 $45,000

    During 2018, Home Mortgage Bankers Corp.'s average interest rate for loans was 5.20%, while their most frequently originated rate bucket for loans was 4-5%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $4,075,000 $74,091 $5,404 5.21%
    $100k-200k 48 $6,500,000 $135,417 $7,476 5.23%
    $200k-400k 7 $1,895,000 $270,714 $12,964 5.04%

    2018 saw Home Mortgage Bankers Corp. place emphasis on $100,000 or less loans with 55 originations, totaling $4,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 77 $7,115,000 $92,403 $5,971 5.20%
    $50k-75k 19 $2,785,000 $146,579 $8,490 5.22%
    $75k-100k 8 $1,090,000 $136,250 $7,852 5.31%
    $100k-150k 4 $1,000,000 $250,000 $9,527 5.13%
    $150k-250k 2 $480,000 $240,000 $18,911 5.13%

    Home Mortgage Bankers Corp. lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $2,655,000 $106,200 $6,321 5.21%
    30-36% 23 $2,325,000 $101,087 $6,279 5.11%
    45% 7 $885,000 $126,429 $8,884 5.14%
    44% 6 $670,000 $111,667 $8,040 5.17%
    49% 6 $1,050,000 $175,000 $7,797 5.13%
    47% 6 $640,000 $106,667 $6,381 5.50%
    50-60% 5 $945,000 $189,000 $10,562 4.80%
    43% 4 $400,000 $100,000 $7,969 4.94%
    42% 4 $530,000 $132,500 $5,365 5.69%
    <20% 3 $195,000 $65,000 $5,218 5.17%
    37% 3 $355,000 $118,333 $6,417 5.25%
    39% 3 $365,000 $121,667 $8,405 5.50%
    46% 3 $245,000 $81,667 $6,151 5.58%
    48% 3 $235,000 $78,333 $5,636 5.33%
    40% 2 $250,000 $125,000 $7,504 5.13%
    38% 2 $170,000 $85,000 $4,936 4.88%
    41% 2 $210,000 $105,000 $5,326 5.63%
    36% 2 $180,000 $90,000 $6,365 5.13%
    >60% 1 $165,000 $165,000 $3,322 6.00%

    Home Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 107 $12,225,000 $114,252 $6,839 5.21%
    Black 3 $245,000 $81,667 $5,614 5.00%

    Approval Rates

    Total approvals of all applications
    93.59%

    Home Mortgage Bankers Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.82%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 110 $12,470,000 $113,364

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 10 $1,030,000 $103,000
    Single Family (1-4 Units):Site-Built 100 $11,440,000 $114,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 5 $275,000 $55,000 $5,383 5.15%
    60-80% 8 $570,000 $71,250 $5,486 5.19%
    80-100% 95 $11,375,000 $119,737 $7,034 5.22%
    Over 100% 2 $250,000 $125,000 $5,446 4.88%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Home American Mortgage Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Home American Mortgage Corp Conventional home mortgage Closing on a mortgage 3 60.0%
    Home American Mortgage Corp VA mortgage Closing on a mortgage 1 20.0%