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. They also have a high ratio of USDA loans. Home Mortgage Bankers Corp. has a low ratio of conventional loans. Their top markets by origination volume include: San Juan, Guayama, Arecibo, Aguadilla, and San GermÁn among others. We have data for 10 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 about average 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% 3/28/24
30 Year Conventional Refi 7.46% 3/28/24
30 Year Cash-out Refi 7.31% 3/28/24
30 Year FHA Purchase 8.05% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.27% 3/28/24
30 Year USDA Purchase 7.40% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
15 Year FHA Purchase 5.68% 3/28/24
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

638

Origination Dollar Volume (All Markets)

$72,210,000

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) 536 $61,630,000 $114,981 $7,371 3.49%
GUAYAMA, PR (FHA|USDA|VA) 51 $5,245,000 $102,843 $6,989 3.24%
Arecibo, PR (FHA|USDA|VA) 27 $2,615,000 $96,852 $6,722 3.69%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 10 $1,250,000 $125,000 $11,896 3.45%
SAN GERMÁN, PR (FHA|USDA|VA) 6 $770,000 $128,333 $7,217 3.54%
YAUCO, PR (FHA|USDA|VA) 3 $265,000 $88,333 $4,180 3.17%
Coco, PR (FHA|USDA|VA) 2 $180,000 $90,000 $6,579 3.50%
PONCE, PR (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.00%
MAYAGÜEZ, PR (FHA|USDA|VA) 1 $85,000 $85,000 $7,710 3.00%
Outside of Metro Areas 1 $65,000 $65,000 $5,075 4.00%
Home Mortgage Bankers Corp.'s top markets include San Juan, Guayama, Arecibo, Aguadilla, and San GermÁn among others.

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

    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 96
    The Lending Center Corporation
    Similarity Rank: 132
    Cooperativa A/C de Arecibo
    Similarity Rank: 217
    Oriental Bank
    Similarity Rank: 286

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 354 $40,840,000 $115,367 $8,230 3.50%
    USDA 251 $26,745,000 $106,554 $6,394 3.42%
    Conventional 23 $3,065,000 $133,261 $6,446 3.79%
    VA 10 $1,560,000 $156,000 $5,270 3.45%

    For 2020, Home Mortgage Bankers Corp.'s most frequently originated type of loan was FHA, with 354 originations. Their 2nd most popular type was USDA, with 251 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 602 $68,500,000 $113,787 $7,392 3.48%
    Cash Out Refi 19 $1,605,000 $84,474 $6,076 3.49%
    Refi 17 $2,105,000 $123,824 $7,553 3.39%

    For 2020, Home Mortgage Bankers Corp.'s most frequently cited loan purpose was Home Purchase, with 602 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 619 $70,365,000 $113,675 $7,398 3.48%
    15 Year 11 $1,015,000 $92,273 $6,807 3.26%
    20 Year 4 $380,000 $95,000 $6,450 3.53%
    Other 2 $330,000 $165,000 $0 3.00%
    10 Year 1 $65,000 $65,000 $5,635 3.00%
    5 Year 1 $55,000 $55,000 $4,768 3.00%

    For 2020, Home Mortgage Bankers Corp.'s most frequently cited loan duration was 30 Year, with 619 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 124 $11,420,000 $92,097
    $3k-4k 117 $13,145,000 $112,350
    $5k+ 33 $7,375,000 $223,485
    $4k-5k 32 $4,900,000 $153,125
    $<1k 31 $3,175,000 $102,419
    $1k-2k 31 $2,005,000 $64,677

    Home Mortgage Bankers Corp.'s average total fees were $7,398, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 124 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 295 $36,105,000 $122,390
    3-4% 269 $28,405,000 $105,595
    4-5% 70 $7,110,000 $101,571
    5-6% 2 $140,000 $70,000

    During 2020, Home Mortgage Bankers Corp.'s average interest rate for loans was 3.48%, while their most frequently originated rate bucket for loans was 2.5-3%, with 295 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 339 $43,805,000 $129,218 $7,945 3.38%
    $100,000 or less 273 $21,595,000 $79,103 $5,799 3.62%
    $200k-400k 26 $6,810,000 $261,923 $16,164 3.27%

    2020 saw Home Mortgage Bankers Corp. place emphasis on $100k-200k loans with 339 originations, totaling $43,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 489 $49,325,000 $100,869 $6,658 3.48%
    $50k-75k 104 $14,150,000 $136,058 $8,448 3.49%
    $75k-100k 24 $4,460,000 $185,833 $11,767 3.52%
    $100k-150k 14 $2,630,000 $187,857 $12,333 3.33%
    $150k-250k 3 $865,000 $288,333 $13,924 2.96%
    $250k+ 2 $570,000 $285,000 $12,718 3.25%

    Home Mortgage Bankers Corp. lent most frequently to those with incomes in the $50k or less range, with 489 originations. The second most popular income band? $50k-75k, with 104 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 124 $13,650,000 $110,081 $7,430 3.51%
    30-36% 118 $13,890,000 $117,712 $7,897 3.42%
    <20% 34 $3,800,000 $111,765 $6,903 3.56%
    43% 32 $3,720,000 $116,250 $7,223 3.45%
    39% 31 $3,675,000 $118,548 $6,835 3.56%
    40% 30 $3,450,000 $115,000 $7,517 3.43%
    44% 30 $3,250,000 $108,333 $6,717 3.54%
    46% 28 $2,960,000 $105,714 $7,166 3.44%
    42% 27 $2,805,000 $103,889 $6,864 3.59%
    38% 26 $2,780,000 $106,923 $7,174 3.45%
    36% 23 $2,635,000 $114,565 $7,112 3.35%
    37% 22 $2,510,000 $114,091 $6,407 3.44%
    45% 21 $2,165,000 $103,095 $7,552 3.33%
    48% 21 $2,465,000 $117,381 $8,625 3.75%
    41% 20 $2,290,000 $114,500 $8,034 3.36%
    49% 20 $2,570,000 $128,500 $8,536 3.31%
    47% 17 $1,725,000 $101,471 $7,151 3.63%
    50-60% 11 $1,535,000 $139,545 $6,790 3.55%
    >60% 1 $115,000 $115,000 $5,872 3.00%

    Home Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 611 $69,115,000 $113,118 $7,331 3.48%
    Black 20 $2,000,000 $100,000 $7,753 3.54%
    Not provided 3 $505,000 $168,333 $9,434 3.00%
    Native Hawaiian or Islander 2 $310,000 $155,000 $0 3.50%
    American Indian 1 $195,000 $195,000 $12,071 3.00%
    Other Pacific Islander 1 $85,000 $85,000 $7,417 4.75%

    Approval Rates

    Total approvals of all applications
    98.06%

    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
    65.05%

    Home Mortgage Bankers Corp. 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
    0.0 4 $560,000 $140,000
    1000.0 1 $105,000 $105,000
    1000.83 1 $205,000 $205,000
    1013.25 1 $105,000 $105,000
    1026.0 1 $105,000 $105,000
    1030.96 1 $105,000 $105,000
    1100.0 1 $115,000 $115,000
    1135.4 1 $75,000 $75,000
    1158.0 1 $115,000 $115,000
    118.0 1 $115,000 $115,000
    1206.0 1 $125,000 $125,000
    1209.04 1 $125,000 $125,000
    1237.16 1 $95,000 $95,000
    1254.5 1 $125,000 $125,000
    1331.7 1 $135,000 $135,000
    1376.91 1 $65,000 $65,000
    1378.0 1 $145,000 $145,000
    1399.25 1 $145,000 $145,000
    1400.0 1 $135,000 $135,000
    1414.03 1 $75,000 $75,000
    1427.17 1 $75,000 $75,000
    1428.2 1 $145,000 $145,000
    1460.16 1 $75,000 $75,000
    1470.0 1 $155,000 $155,000
    1472.3 1 $75,000 $75,000
    1489.28 1 $75,000 $75,000
    1493.88 1 $85,000 $85,000
    1495.75 1 $155,000 $155,000
    1514.1 1 $75,000 $75,000
    1519.86 1 $75,000 $75,000
    1547.78 1 $55,000 $55,000
    1567.82 1 $55,000 $55,000
    1689.78 1 $55,000 $55,000
    1720.0 1 $175,000 $175,000
    1728.68 1 $85,000 $85,000
    1752.19 2 $170,000 $85,000
    1754.94 1 $85,000 $85,000
    1809.38 1 $125,000 $125,000
    1811.58 1 $125,000 $125,000
    1880.0 1 $95,000 $95,000
    1891.41 1 $95,000 $95,000
    1961.01 1 $65,000 $65,000
    1977.21 1 $105,000 $105,000
    1989.9 1 $95,000 $95,000
    2020.26 1 $105,000 $105,000
    2058.6 1 $65,000 $65,000
    2069.72 1 $85,000 $85,000
    2105.3 2 $210,000 $105,000
    2137.31 1 $105,000 $105,000
    2141.57 1 $105,000 $105,000
    2200.2 1 $115,000 $115,000
    2207.47 1 $75,000 $75,000
    2209.48 1 $75,000 $75,000
    2219.5 1 $115,000 $115,000
    2239.66 1 $115,000 $115,000
    2258.38 2 $230,000 $115,000
    2277.4 1 $115,000 $115,000
    2291.81 1 $115,000 $115,000
    2294.06 1 $115,000 $115,000
    2297.42 1 $75,000 $75,000
    2311.5 1 $115,000 $115,000
    2311.61 1 $115,000 $115,000
    2312.66 1 $75,000 $75,000
    2364.9 1 $115,000 $115,000
    2369.68 1 $65,000 $65,000
    2371.0 1 $85,000 $85,000
    2383.44 1 $75,000 $75,000
    2385.94 1 $75,000 $75,000
    2402.64 1 $85,000 $85,000
    2414.14 1 $125,000 $125,000
    2431.5 1 $65,000 $65,000
    2433.6 1 $125,000 $125,000
    2441.17 1 $125,000 $125,000
    2459.14 1 $85,000 $85,000
    2462.68 1 $125,000 $125,000
    2471.74 1 $75,000 $75,000
    2485.6 1 $85,000 $85,000
    2488.78 1 $65,000 $65,000
    2489.45 1 $85,000 $85,000
    2492.01 1 $125,000 $125,000
    2494.77 1 $125,000 $125,000
    2500.0 1 $115,000 $115,000
    2511.48 1 $125,000 $125,000
    2519.98 1 $125,000 $125,000
    2527.72 1 $125,000 $125,000
    2547.51 1 $105,000 $105,000
    2605.69 1 $135,000 $135,000
    2608.82 1 $135,000 $135,000
    2618.31 1 $85,000 $85,000
    2628.29 2 $270,000 $135,000
    2635.88 1 $85,000 $85,000
    2657.6 1 $85,000 $85,000
    2690.49 1 $95,000 $95,000
    2694.46 1 $95,000 $95,000
    2702.8 1 $85,000 $85,000
    2706.17 1 $135,000 $135,000
    2714.43 1 $75,000 $75,000
    2715.91 1 $95,000 $95,000
    2717.87 1 $65,000 $65,000
    2718.0 1 $95,000 $95,000
    2725.64 2 $270,000 $135,000
    2745.11 1 $135,000 $135,000
    2764.58 1 $135,000 $135,000
    2778.58 1 $95,000 $95,000
    2790.0 1 $145,000 $145,000
    2808.78 1 $95,000 $95,000
    2817.47 1 $95,000 $95,000
    2818.04 1 $65,000 $65,000
    2826.27 1 $95,000 $95,000
    2869.0 1 $95,000 $95,000
    2870.9 1 $75,000 $75,000
    2895.0 1 $145,000 $145,000
    2940.98 1 $85,000 $85,000
    2964.8 1 $65,000 $65,000
    3000.0 1 $145,000 $145,000
    3035.0 1 $105,000 $105,000
    3039.36 1 $75,000 $75,000
    3163.06 1 $105,000 $105,000
    3165.9 8 $840,000 $105,000
    3171.2 1 $105,000 $105,000
    3172.5 1 $95,000 $95,000
    3221.64 1 $105,000 $105,000
    3240.71 1 $95,000 $95,000
    3285.85 1 $85,000 $85,000
    3309.7 1 $165,000 $165,000
    3328.88 1 $115,000 $115,000
    3415.48 1 $125,000 $125,000
    3421.23 1 $125,000 $125,000
    3500.07 1 $95,000 $95,000
    3517.67 1 $175,000 $175,000
    3583.09 1 $125,000 $125,000
    3609.0 1 $185,000 $185,000
    3662.4 1 $185,000 $185,000
    3672.32 1 $125,000 $125,000
    3720.0 1 $185,000 $185,000
    3844.65 1 $195,000 $195,000
    3893.77 1 $195,000 $195,000
    3942.44 1 $135,000 $135,000
    3977.45 1 $135,000 $135,000
    4006.66 1 $135,000 $135,000
    4050.0 1 $135,000 $135,000
    4100.09 1 $145,000 $145,000
    4100.28 1 $135,000 $135,000
    4141.78 1 $215,000 $215,000
    4311.3 1 $155,000 $155,000
    4316.55 1 $215,000 $215,000
    4398.99 1 $175,000 $175,000
    4410.0 1 $145,000 $145,000
    4686.04 1 $155,000 $155,000
    4769.87 1 $245,000 $245,000
    5677.76 1 $185,000 $185,000
    5711.11 1 $195,000 $195,000
    598.95 1 $115,000 $115,000
    6461.02 1 $215,000 $215,000
    6658.34 1 $225,000 $225,000
    7171.71 1 $255,000 $255,000
    780.0 1 $75,000 $75,000
    7996.37 1 $265,000 $265,000
    820.0 1 $85,000 $85,000
    820.25 1 $85,000 $85,000
    NA 463 $51,925,000 $112,149

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 638 $72,210,000 $113,182

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $65,000 $65,000 $0 3.00%
    40-60% 9 $565,000 $62,778 $5,306 3.57%
    60-80% 50 $4,450,000 $89,000 $7,171 3.60%
    80-100% 549 $63,085,000 $114,909 $7,275 3.48%
    Over 100% 29 $4,045,000 $139,483 $10,480 3.29%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Home American Mortgage Corp Conventional home mortgage Closing on a mortgage 3 50.0%
    Home American Mortgage Corp FHA mortgage Closing on a mortgage 1 16.7%
    Home American Mortgage Corp VA mortgage Closing on a mortgage 1 16.7%
    Home American Mortgage Corp VA mortgage Trouble during payment process 1 16.7%