Family Finance Mortgage Rates, Fees & Info

Arnold, MO

LEI: 5493004G43JM6M5BFR40

Tax ID: 32-0029618

5 stars - out of 5 stars, based on 28 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Family Finance Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Family Finance Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Farmington, Kansas City, Cape Coral, and Denver among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Family Finance Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Family Finance Mortgage 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.

    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 6.58% 12/4/22
    30 Year Conventional Refi 6.58% 12/4/22
    30 Year Cash-out Refi 6.58% 12/4/22
    30 Year FHA Purchase 6.58% 12/4/22
    30 Year FHA Refi 6.58% 12/4/22
    30 Year VA Purchase 6.58% 12/4/22
    30 Year VA Refi 6.58% 12/4/22
    30 Year USDA Purchase 6.58% 12/4/22
    30 Year USDA Refi 6.58% 12/4/22
    15 Year Conventional Purchase 5.76% 12/4/22
    15 Year Conventional Refi 5.76% 12/4/22
    15 Year Cash-out Refi 5.76% 12/4/22
    15 Year VA Refi 5.76% 12/4/22
    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.


    Originations

    785

    Origination Dollar Volume (All Markets)

    $172,815,000

    Awards

    FAMILY FINANCE MORTGAGE 30 Year Conventional Loans bronze FAMILY FINANCE MORTGAGE VA Loans gold
    Show all (2) awards

    Relative Rate

    Family Finance Mortgage's average 30 year fixed mortgage rate was 3.14%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.01%.

    Relative Fees (Closing Costs)

    Family Finance Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $3,957.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 719 $156,945,000 $218,282 $3,695 3.07%
    Outside of Metro Areas 15 $3,455,000 $230,333 $3,833 3.08%
    Farmington, MO (FHA|USDA|VA) 13 $2,335,000 $179,615 $3,967 3.08%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $1,375,000 $275,000 $5,157 2.92%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,220,000 $305,000 $4,366 3.12%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $870,000 $435,000 $1,874 2.81%
    SPRINGFIELD, MO (FHA|USDA|VA) 3 $725,000 $241,667 $2,102 2.42%
    Branson, MO (FHA|USDA|VA) 3 $675,000 $225,000 $3,805 2.75%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $590,000 $295,000 $6,373 2.63%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $545,000 $545,000 $5,305 3.49%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $545,000 $545,000 $5,756 3.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $415,000 $415,000 $5,632 3.00%
    Fort Leonard Wood, MO (FHA|USDA|VA) 2 $360,000 $180,000 $6,898 2.86%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 2 $360,000 $180,000 $4,046 3.06%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,028 3.38%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $315,000 $315,000 $5,286 3.38%
    Moberly, MO (FHA|USDA|VA) 1 $295,000 $295,000 $2,330 3.63%
    Lebanon, MO (FHA|USDA|VA) 2 $280,000 $140,000 $5,588 3.31%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $255,000 $255,000 $2,498 3.00%
    Poplar Bluff, MO (FHA|USDA|VA) 1 $215,000 $215,000 $6,418 2.75%
    Sikeston, MO (FHA|USDA|VA) 1 $205,000 $205,000 $2,580 3.13%
    COLUMBIA, MO (FHA|USDA|VA) 1 $175,000 $175,000 $4,923 3.25%
    Quincy, IL-MO (FHA|USDA|VA) 1 $155,000 $155,000 $5,738 2.25%
    Mount Vernon, IL (FHA|USDA|VA) 1 $105,000 $105,000 $3,880 3.88%
    Rolla, MO (FHA|USDA|VA) 1 $75,000 $75,000 $2,115 3.38%
    Family Finance Mortgage's top markets include St. Louis, Farmington, Kansas City, Cape Coral, and Denver among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against FAMILY FINANCE MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Town & Country Bank
    Similarity Rank: 328
    CapGrow Home Mortgage, LLC
    Similarity Rank: 552
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 627
    JERSEY STATE BANK
    Similarity Rank: 725
    HNB National Bank
    Similarity Rank: 910
    First National Bank of Waterloo
    Similarity Rank: 938
    VANTAGE Credit Union
    Similarity Rank: 1010
    Providence Bank
    Similarity Rank: 1102
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 554 $122,890,000 $221,823 $2,795 3.08%
    FHA 156 $31,290,000 $200,577 $6,684 3.12%
    VA 61 $16,115,000 $264,180 $4,442 2.78%
    USDA 14 $2,520,000 $180,000 $5,166 3.02%

    For 2021, Family Finance Mortgage's most frequently originated type of loan was Conventional, with 554 originations. Their 2nd most popular type was FHA, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 396 $87,210,000 $220,227 $4,673 3.15%
    Refi 294 $64,550,000 $219,558 $2,606 2.90%
    Cash Out Refi 95 $21,055,000 $221,632 $3,347 3.21%

    For 2021, Family Finance Mortgage's most frequently cited loan purpose was Home Purchase, with 396 originations. The 2nd most popular reason was Refi, with 294 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 670 $147,280,000 $219,821 $3,957 3.14%
    15 Year 69 $14,745,000 $213,696 $2,303 2.47%
    20 Year 25 $5,785,000 $231,400 $2,446 2.81%
    Other 18 $4,120,000 $228,889 $3,020 2.87%
    10 Year 3 $885,000 $295,000 $2,680 2.29%

    For 2021, Family Finance Mortgage's most frequently cited loan duration was 30 Year, with 670 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 526 $114,540,000 $217,757
    $<1k 147 $33,655,000 $228,946
    $2k-3k 33 $5,535,000 $167,727
    $3k-4k 11 $1,725,000 $156,818
    $4k-5k 6 $1,380,000 $230,000
    $5k+ 2 $460,000 $230,000

    Family Finance Mortgage's average total fees were $3,957, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 526 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 358 $73,580,000 $205,531
    2.5-3% 313 $71,025,000 $226,917
    <2.5% 102 $25,700,000 $251,961
    4-5% 12 $2,510,000 $209,167

    During 2021, Family Finance Mortgage's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 357 $53,745,000 $150,546 $3,561 3.12%
    $200k-400k 357 $96,345,000 $269,874 $3,981 3.01%
    $400k-600k 42 $19,550,000 $465,476 $3,552 2.90%
    $100,000 or less 28 $2,410,000 $86,071 $3,178 3.26%
    $600k-1MM 1 $765,000 $765,000 $3,339 3.25%

    2021 saw Family Finance Mortgage place emphasis on $100k-200k loans with 357 originations, totaling $53,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 208 $41,660,000 $200,288 $3,885 3.10%
    $50k or less 174 $27,350,000 $157,184 $4,094 3.12%
    $100k-150k 170 $43,280,000 $254,588 $3,237 3.05%
    $75k-100k 144 $32,120,000 $223,056 $3,910 3.05%
    $150k-250k 70 $22,080,000 $315,429 $3,378 2.89%
    $250k+ 18 $6,210,000 $345,000 $3,298 2.87%

    Family Finance Mortgage lent most frequently to those with incomes in the $50k-75k range, with 208 originations. The second most popular income band? $50k or less, with 174 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 168 $35,820,000 $213,214 $3,243 3.01%
    30-36% 154 $34,270,000 $222,532 $3,260 3.09%
    <20% 69 $14,805,000 $214,565 $2,715 2.86%
    50-60% 50 $9,830,000 $196,600 $5,717 3.00%
    42% 37 $8,205,000 $221,757 $4,239 3.16%
    39% 34 $7,300,000 $214,706 $4,302 3.14%
    49% 30 $7,110,000 $237,000 $3,223 3.13%
    45% 29 $6,925,000 $238,793 $4,756 3.13%
    40% 25 $5,945,000 $237,800 $3,602 3.08%
    41% 25 $5,485,000 $219,400 $3,995 3.22%
    47% 21 $4,475,000 $213,095 $4,579 3.18%
    43% 20 $4,570,000 $228,500 $5,298 3.37%
    37% 20 $4,360,000 $218,000 $3,562 3.24%
    38% 19 $5,105,000 $268,684 $3,597 3.18%
    48% 18 $3,860,000 $214,444 $3,794 3.07%
    44% 15 $3,105,000 $207,000 $3,311 3.12%
    46% 14 $2,770,000 $197,857 $4,056 2.87%
    36% 13 $3,075,000 $236,538 $4,404 3.19%
    >60% 4 $1,170,000 $292,500 $6,515 3.03%

    Family Finance Mortgage lent most frequently to those with DTI ratios of 20-30%, with 168 originations. The next most common DTI ratio? 30-36%, with 154 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 692 $150,590,000 $217,616 $3,618 3.07%
    Not provided 46 $11,220,000 $243,913 $4,166 3.05%
    Black 41 $9,735,000 $237,439 $5,349 3.10%
    Asian 4 $840,000 $210,000 $3,372 2.78%
    Chinese 1 $255,000 $255,000 $1,173 2.25%
    American Indian 1 $175,000 $175,000 $5,998 2.63%

    Approval Rates

    Total approvals of all applications
    99.50%

    Family Finance Mortgage 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
    98.34%

    Family Finance Mortgage has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 785 $172,815,000 $220,146

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    785 $172,815,000 $220,146

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,590,000 $159,000 $3,164 2.37%
    40-60% 53 $9,755,000 $184,057 $2,395 2.78%
    60-80% 282 $61,690,000 $218,759 $2,825 3.09%
    80-100% 434 $97,870,000 $225,507 $4,393 3.10%
    Over 100% 6 $1,910,000 $318,333 $12,094 2.91%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Family First Funding LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Family First Funding LLC FHA mortgage Trouble during payment process 1 50.0%