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 Home Purchase and Cash Out Refi loans. Interstate Home Loan Center has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: New York, Hartford, Poughkeepsie, Miami, and Tampa among others. We have data for 34 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 a high 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
218Origination Dollar Volume (All Markets)
$84,160,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 135 | $61,195,000 | $453,296 | $13,926 | 4.57% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 18 | $4,180,000 | $232,222 | $10,809 | 4.67% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 9 | $2,625,000 | $291,667 | $13,383 | 5.28% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $2,140,000 | $356,667 | $8,577 | 4.46% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,840,000 | $306,667 | $9,811 | 3.98% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $12,265 | 4.15% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 4 | $1,220,000 | $305,000 | $15,213 | 4.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $6,852 | 4.67% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $9,823 | 5.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $33,742 | 5.63% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $8,508 | 5.31% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $7,029 | 4.38% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $16,433 | 4.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $8,512 | 4.88% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $9,055 | 6.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,844 | 3.13% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $15,721 | 4.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $7,047 | 5.88% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $11,132 | 3.63% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,310 | 5.13% |
| Outside of Metro Areas | 2 | $310,000 | $155,000 | $9,739 | 4.94% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,720 | 3.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,237 | 4.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,907 | 7.50% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,978 | 3.25% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $17,187 | 5.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,743 | 3.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,756 | 5.88% |
| Pella, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,937 | 4.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,347 | 7.50% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,543 | 6.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,815 | 3.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,196 | 6.13% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,536 | 6.13% |
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 | 143 | $54,525,000 | $381,294 | $9,539 | 4.61% |
| FHA | 71 | $27,785,000 | $391,338 | $18,658 | 4.76% |
| VA | 4 | $1,850,000 | $462,500 | $15,572 | 4.25% |
For 2022, Interstate Home Loan Center's most frequently originated type of loan was Conventional, with 143 originations. Their 2nd most popular type was FHA, with 71 originations.
Loan Reason
For 2022, Interstate Home Loan Center's most frequently cited loan purpose was Home Purchase, with 137 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.
Loan Duration/Length
For 2022, Interstate Home Loan Center's most frequently cited loan duration was 30 Year, with 202 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
Interstate Home Loan Center's average total fees were $12,967, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 115 originations.
Interest Rates
During 2022, Interstate Home Loan Center's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 3-4%, with 80 originations.
Loan Sizing
2022 saw Interstate Home Loan Center place emphasis on $200k-400k loans with 95 originations, totaling $28,985,000 in origination value.
Applicant Income
Interstate Home Loan Center lent most frequently to those with incomes in the $100k-150k range, with 80 originations. The second most popular income band? $150k-250k, with 46 originations.
Applicant Debt to Income Ratio
Interstate Home Loan Center lent most frequently to those with DTI ratios of 30-36%, with 41 originations. The next most common DTI ratio? 50-60%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.85%
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 origination-5.05%
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 | 218 | $84,160,000 | $386,055 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| INTERFIRST MORTGAGE COMPANY | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |