Family Finance Mortgage Rates, Fees & Info
Arnold, MOLEI: 5493004G43JM6M5BFR40
Tax ID: 32-0029618
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Mortgage Data
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
785Origination Dollar Volume (All Markets)
$172,815,000Awards
FAMILY FINANCE MORTGAGE - 2021
FAMILY FINANCE MORTGAGE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 328
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Similarity Rank: 1102
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Product Mix
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
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
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
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
2021 saw Family Finance Mortgage place emphasis on $100k-200k loans with 357 originations, totaling $53,745,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.50%
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 origination98.34%
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 |
LTV Distribution
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% |
