Homefield Mortgage Rates, Fees & Info
Grafton, MALEI: 5493003FTQTUEICOS793
Tax ID: 04-2393313
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Homefield is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Homefield has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Homefield 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.
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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.59% | 12/16/24 |
| 30 Year Conventional Refi | 5.75% | 12/16/24 |
| 30 Year Cash-out Refi | 5.88% | 12/16/24 |
| 15 Year Conventional Purchase | 5.83% | 12/16/24 |
| 15 Year Conventional Refi | 6.04% | 12/16/24 |
| 15 Year Cash-out Refi | 6.04% | 12/16/24 |
| 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. | ||
Homefield Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Homefield. 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
85Origination Dollar Volume (All Markets)
$18,965,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 67 | $13,835,000 | $206,493 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 11 | $3,365,000 | $305,909 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against HOMEFIELD based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 80
Similarity Rank: 118
Similarity Rank: 139
Similarity Rank: 180
Similarity Rank: 294
Similarity Rank: 417
Similarity Rank: 420
Similarity Rank: 435
Similarity Rank: 455
Similarity Rank: 505
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $18,965,000 | $223,118 | $0 | 0.00% |
For 2019, Homefield's most frequently originated type of loan was Conventional, with 85 originations.
Loan Reason
For 2019, Homefield's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 85 | $18,965,000 | $223,118 | $0 | 0.00% |
For 2019, Homefield's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2019 saw Homefield place emphasis on $200k-400k loans with 39 originations, totaling $10,775,000 in origination value.
Applicant Income
Homefield lent most frequently to those with incomes in the $75k-100k range, with 21 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 85 | $18,965,000 | $223,118 | $0 | 0.00% |
Homefield lent most frequently to those with DTI ratios of Exempt%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.11%
Homefield has an average approval rate.
Pick Rate
Approvals leading to origination74.12%
Homefield has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 85 | $18,965,000 | $223,118 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $710,000 | $355,000 |
| Single Family (1-4 Units):Site-Built | 83 | $18,255,000 | $219,940 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HomePlus Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| HomePlus Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |