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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.57% | 12/3/24 |
| 30 Year Conventional Refi | 7.46% | 12/3/24 |
| 30 Year Cash-out Refi | 7.31% | 12/3/24 |
| 30 Year FHA Purchase | 8.05% | 12/3/24 |
| 30 Year FHA Refi | 6.27% | 12/3/24 |
| 30 Year VA Purchase | 6.27% | 12/3/24 |
| 30 Year USDA Purchase | 7.40% | 12/3/24 |
| 15 Year Conventional Refi | 5.68% | 12/3/24 |
| 15 Year Cash-out Refi | 5.68% | 12/3/24 |
| 15 Year FHA Purchase | 5.68% | 12/3/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
110Origination Dollar Volume (All Markets)
$12,470,000Top 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% |
Their top states include:
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.
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Product Mix
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
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
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
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
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 applications93.59%
Home Mortgage Bankers Corp. has an average approval rate.
Pick Rate
Approvals leading to origination71.82%
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
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% |