Interstate Home Loan Center Mortgage Rates, Fees & Info
MELVILLE, NYLEI: 5493003X6Y6JGJKHPA25
Tax ID: 11-3217224
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Mortgage Data
Review & Overview
Interstate Home Loan Center is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Interstate Home Loan Center has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Poughkeepsie, Prescott Valley, Miami, and Tampa among others. We have data for 44 markets. (Some data included below & more in-depth data is available with an active subscription.)Interstate Home Loan Center 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. Interstate Home Loan Center 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 12/16/24 |
| 30 Year Conventional Refi | 6.52% | 12/16/24 |
| 30 Year Cash-out Refi | 6.64% | 12/16/24 |
| 30 Year FHA Purchase | 7.27% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 5.75% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.24% | 12/16/24 |
| 15 Year Conventional Refi | 5.87% | 12/16/24 |
| 15 Year Cash-out Refi | 5.87% | 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. | ||
Interstate Home Loan Center Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
541Origination Dollar Volume (All Markets)
$198,165,000Awards
INTERSTATE HOME LOAN CENTER - 2020
INTERSTATE HOME LOAN CENTER is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 429 | $166,395,000 | $387,867 | $7,882 | 3.13% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 20 | $5,050,000 | $252,500 | $7,362 | 3.08% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 11 | $2,885,000 | $262,273 | $3,452 | 3.18% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 7 | $2,005,000 | $286,429 | $5,909 | 2.73% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $5,556 | 2.80% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $1,530,000 | $382,500 | $9,046 | 3.53% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 7 | $1,505,000 | $215,000 | $3,345 | 3.50% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $6,354 | 3.09% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $3,673 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,702 | 2.58% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $8,134 | 3.96% |
| Outside of Metro Areas | 3 | $915,000 | $305,000 | $10,822 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $5,017 | 2.75% |
| SYRACUSE, NY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $5,266 | 2.75% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $4,258 | 3.33% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $5,574 | 3.06% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $15,922 | 3.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $11,943 | 3.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,552 | 2.81% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,935 | 2.88% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,688 | 3.31% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $13,465 | 3.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,101 | 3.44% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,735 | 3.13% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,727 | 2.88% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,043 | 2.38% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,690 | 3.88% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $16,573 | 3.38% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,038 | 3.00% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,585 | 2.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,618 | 2.88% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,855 | 3.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,417 | 2.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,644 | 3.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,289 | 2.75% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,409 | 2.75% |
| Boone, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,967 | 1.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,670 | 3.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,507 | 3.38% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,314 | 3.00% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,029 | 2.88% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,393 | 4.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,235 | 2.88% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,115 | 2.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against INTERSTATE HOME LOAN CENTER 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 479 | $174,475,000 | $364,248 | $6,563 | 3.12% |
| FHA | 61 | $23,165,000 | $379,754 | $14,622 | 3.16% |
| VA | 1 | $525,000 | $525,000 | $14,309 | 3.38% |
For 2020, Interstate Home Loan Center's most frequently originated type of loan was Conventional, with 479 originations. Their 2nd most popular type was FHA, with 61 originations.
Loan Reason
For 2020, Interstate Home Loan Center's most frequently cited loan purpose was Refi, with 265 originations. The 2nd most popular reason was Cash Out Refi, with 146 originations.
Loan Duration/Length
For 2020, Interstate Home Loan Center's most frequently cited loan duration was 30 Year, with 465 originations. The 2nd most popular length was 15 Year, with 36 originations.
Origination Fees/Closing Costs
Interstate Home Loan Center's average total fees were $7,749, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 193 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 250 | $89,050,000 | $356,200 |
| 3-4% | 234 | $87,400,000 | $373,504 |
| <2.5% | 38 | $14,780,000 | $388,947 |
| 4-5% | 19 | $6,935,000 | $365,000 |
During 2020, Interstate Home Loan Center's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 250 originations.
Loan Sizing
2020 saw Interstate Home Loan Center place emphasis on $200k-400k loans with 307 originations, totaling $96,605,000 in origination value.
Applicant Income
Interstate Home Loan Center lent most frequently to those with incomes in the $100k-150k range, with 195 originations. The second most popular income band? $75k-100k, with 130 originations.
Applicant Debt to Income Ratio
Interstate Home Loan Center lent most frequently to those with DTI ratios of 30-36%, with 103 originations. The next most common DTI ratio? 20-30%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.47%
Interstate Home Loan Center has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination17.74%
Interstate Home Loan Center 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 |
|---|---|---|---|
| NA | 541 | $198,165,000 | $366,294 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 541 | $198,165,000 | $366,294 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| INTERFIRST MORTGAGE COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 57.1% |
| INTERFIRST MORTGAGE COMPANY | Conventional home mortgage | Closing on a mortgage | 1 | 14.3% |
| INTERFIRST MORTGAGE COMPANY | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |