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, Miami, Poughkeepsie, Orlando, and Tampa among others. We have data for 46 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% | 4/30/24 |
| 30 Year Conventional Refi | 6.52% | 4/30/24 |
| 30 Year Cash-out Refi | 6.64% | 4/30/24 |
| 30 Year FHA Purchase | 7.27% | 4/30/24 |
| 30 Year FHA Refi | 6.27% | 4/30/24 |
| 30 Year VA Purchase | 5.75% | 4/30/24 |
| 30 Year VA Refi | 6.27% | 4/30/24 |
| 30 Year USDA Purchase | 6.27% | 4/30/24 |
| 15 Year Conventional Purchase | 6.24% | 4/30/24 |
| 15 Year Conventional Refi | 5.87% | 4/30/24 |
| 15 Year Cash-out Refi | 5.87% | 4/30/24 |
| 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
513Origination Dollar Volume (All Markets)
$190,865,000Awards
INTERSTATE HOME LOAN CENTER - 2021
INTERSTATE HOME LOAN CENTER is a 2021 , due to their low .
For 2021, 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) | 325 | $134,205,000 | $412,938 | $7,697 | 3.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 27 | $9,015,000 | $333,889 | $5,677 | 2.78% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 23 | $6,575,000 | $285,870 | $5,775 | 3.02% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 14 | $4,300,000 | $307,143 | $5,746 | 2.64% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 13 | $4,025,000 | $309,615 | $6,087 | 2.76% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $2,650,000 | $662,500 | $6,357 | 3.34% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 9 | $2,595,000 | $288,333 | $4,733 | 3.22% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 8 | $2,480,000 | $310,000 | $3,747 | 2.66% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 8 | $1,880,000 | $235,000 | $9,267 | 3.25% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 9 | $1,795,000 | $199,444 | $6,602 | 3.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,750,000 | $291,667 | $5,269 | 3.21% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $1,610,000 | $402,500 | $3,645 | 2.97% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $2,663 | 2.70% |
| Outside of Metro Areas | 4 | $1,320,000 | $330,000 | $6,190 | 3.13% |
| SYRACUSE, NY (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $4,158 | 3.10% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $4,077 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $3,380 | 3.04% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $5,938 | 2.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $4,199 | 2.94% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $3,518 | 3.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $5,571 | 3.17% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $16,856 | 3.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,425 | 2.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $6,342 | 3.19% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,462 | 2.69% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,955 | 3.56% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,944 | 2.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $7,633 | 3.38% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,932 | 2.75% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,618 | 3.31% |
| Key West, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,740 | 2.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,874 | 3.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,164 | 2.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $15,492 | 3.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,495 | 2.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,398 | 3.88% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,926 | 2.50% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $11,489 | 3.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,496 | 3.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,816 | 3.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,574 | 2.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,462 | 3.13% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,900 | 3.25% |
| Hudson, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,620 | 2.99% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,254 | 2.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,233 | 3.63% |
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 | 444 | $166,290,000 | $374,527 | $6,066 | 2.97% |
| FHA | 67 | $23,885,000 | $356,493 | $12,645 | 3.11% |
| VA | 2 | $690,000 | $345,000 | $9,596 | 3.38% |
For 2021, Interstate Home Loan Center's most frequently originated type of loan was Conventional, with 444 originations. Their 2nd most popular type was FHA, with 67 originations.
Loan Reason
For 2021, Interstate Home Loan Center's most frequently cited loan purpose was Refi, with 203 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.
Loan Duration/Length
For 2021, Interstate Home Loan Center's most frequently cited loan duration was 30 Year, with 426 originations. The 2nd most popular length was 15 Year, with 50 originations.
Origination Fees/Closing Costs
Interstate Home Loan Center's average total fees were $7,225, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 276 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 224 | $85,700,000 | $382,589 |
| 3-4% | 220 | $80,620,000 | $366,455 |
| <2.5% | 67 | $22,945,000 | $342,463 |
| 4-5% | 2 | $1,600,000 | $800,000 |
During 2021, Interstate Home Loan Center's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 224 originations.
Loan Sizing
2021 saw Interstate Home Loan Center place emphasis on $200k-400k loans with 286 originations, totaling $87,850,000 in origination value.
Applicant Income
Interstate Home Loan Center lent most frequently to those with incomes in the $100k-150k range, with 164 originations. The second most popular income band? $150k-250k, with 123 originations.
Applicant Debt to Income Ratio
Interstate Home Loan Center lent most frequently to those with DTI ratios of 30-36%, with 87 originations. The next most common DTI ratio? 20-30%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.73%
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 origination23.59%
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 | 513 | $190,865,000 | $372,057 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Intercoastal Mortgage LLC | Other type of mortgage | Closing on a mortgage | 1 | 100.0% |