Family Finance Mortgage Rates, Fees & Info

Arnold, MO

LEI: 5493004G43JM6M5BFR40

Tax ID: 32-0029618

5 stars - Updated: 4/5/25 - out of 5 stars, based on 18 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Family Finance Mortgage is a smaller mortgage company specializing in Home Purchase 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, Tampa, Farmington, Cape Coral, and Columbia among others. We have data for 12 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 a low 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 7.40% 4/5/25
30 Year Conventional Refi 7.09% 4/5/25
30 Year Cash-out Refi 7.50% 4/5/25
30 Year FHA Purchase 7.71% 4/5/25
30 Year FHA Refi 7.44% 4/5/25
30 Year VA Purchase 6.87% 4/5/25
30 Year VA Refi 6.33% 4/5/25
30 Year USDA Purchase 7.80% 4/5/25
15 Year Conventional Purchase 5.69% 4/5/25
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.

Family Finance Mortgage Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Family Finance Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

310

Origination Dollar Volume (All Markets)

$83,600,000

Relative Rate

Family Finance Mortgage's average 30 year fixed mortgage rate was 6.83%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.28%.

Relative Fees (Closing Costs)

Family Finance Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,998.

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 $8,356.

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) 282 $75,560,000 $267,943 $5,835 6.82%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,675,000 $335,000 $12,936 7.13%
Farmington, MO (FHA|USDA|VA) 8 $1,590,000 $198,750 $6,343 6.62%
Outside of Metro Areas 6 $1,300,000 $216,667 $7,474 6.73%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,080,000 $540,000 $5,404 7.06%
COLUMBIA, MO (FHA|USDA|VA) 1 $585,000 $585,000 $3,275 6.88%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $485,000 $485,000 $10,213 5.74%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $375,000 $375,000 $6,246 6.75%
Warrensburg, MO (FHA|USDA|VA) 1 $335,000 $335,000 $2,978 7.25%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $245,000 $245,000 $7,542 6.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,612 6.99%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $185,000 $185,000 $11,267 6.75%
Family Finance Mortgage's top markets include St. Louis, Tampa, Farmington, Cape Coral, and Columbia among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (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.

    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 198
    United Bank of Union
    Similarity Rank: 200
    Bank of Hillsboro
    Similarity Rank: 225
    First National Bank of Waterloo
    Similarity Rank: 259
    VANTAGE Credit Union
    Similarity Rank: 290
    Gateway Metro Federal Credit Union
    Similarity Rank: 292
    FIRST COMMUNITY
    Similarity Rank: 312
    ALLTRU Federal Credit Union
    Similarity Rank: 424
    ACCESS CAPITAL FUNDING, L.L.C.
    Similarity Rank: 480
    WEST COMMUNITY
    Similarity Rank: 567

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 174 $45,540,000 $261,724 $4,273 7.02%
    FHA 79 $20,945,000 $265,127 $8,773 6.61%
    VA 54 $16,540,000 $306,296 $7,351 6.44%
    USDA 3 $575,000 $191,667 $6,211 7.04%

    For 2024, Family Finance Mortgage's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was FHA, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 244 $65,000,000 $266,393 $6,386 6.89%
    Refi 55 $15,745,000 $286,273 $3,973 6.43%
    Cash Out Refi 11 $2,855,000 $259,545 $5,864 7.13%

    For 2024, Family Finance Mortgage's most frequently cited loan purpose was Home Purchase, with 244 originations. The 2nd most popular reason was Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 304 $82,020,000 $269,803 $5,998 6.83%
    Other 5 $1,275,000 $255,000 $5,789 6.27%
    15 Year 1 $305,000 $305,000 $3,515 5.75%

    For 2024, Family Finance Mortgage's most frequently cited loan duration was 30 Year, with 304 originations. The 2nd most popular length was Other, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 150 $38,670,000 $257,800
    $2k-3k 67 $17,575,000 $262,313
    $3k-4k 18 $4,990,000 $277,222
    $4k-5k 13 $3,095,000 $238,077
    $5k+ 11 $2,805,000 $255,000
    $<1k 9 $3,155,000 $350,556

    Family Finance Mortgage's average total fees were $5,998, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 150 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 201 $54,565,000 $271,468
    7-8% 86 $22,470,000 $261,279
    5-6% 18 $5,390,000 $299,444
    Over 8% 5 $1,175,000 $235,000

    During 2024, Family Finance Mortgage's average interest rate for loans was 6.83%, while their most frequently originated rate bucket for loans was 6-7%, with 201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 176 $49,940,000 $283,750 $5,961 6.80%
    $100k-200k 80 $13,230,000 $165,375 $5,365 6.85%
    $400k-600k 40 $18,170,000 $454,250 $8,114 6.71%
    $100,000 or less 12 $950,000 $79,167 $4,136 7.19%
    $600k-1MM 2 $1,310,000 $655,000 $3,822 6.56%

    2024 saw Family Finance Mortgage place emphasis on $200k-400k loans with 176 originations, totaling $49,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 74 $22,730,000 $307,162 $6,887 6.94%
    $50k-75k 72 $14,860,000 $206,389 $5,806 6.84%
    $75k-100k 66 $17,710,000 $268,333 $6,043 6.80%
    $50k or less 47 $9,575,000 $203,723 $4,784 6.55%
    $150k-250k 41 $15,045,000 $366,951 $5,664 6.91%
    $250k+ 10 $3,680,000 $368,000 $6,781 6.72%

    Family Finance Mortgage lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $50k-75k, with 72 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $11,310,000 $235,625 $4,775 6.85%
    50-60% 43 $11,705,000 $272,209 $7,888 6.69%
    30-36% 40 $10,730,000 $268,250 $5,587 6.86%
    49% 21 $5,695,000 $271,190 $5,680 6.88%
    47% 16 $4,440,000 $277,500 $7,212 7.04%
    46% 15 $3,875,000 $258,333 $6,150 6.76%
    41% 15 $4,445,000 $296,333 $6,249 6.66%
    44% 14 $4,130,000 $295,000 $5,644 7.08%
    39% 13 $3,855,000 $296,538 $4,275 6.69%
    37% 12 $2,760,000 $230,000 $5,761 7.00%
    36% 11 $2,885,000 $262,273 $5,292 6.70%
    40% 10 $2,590,000 $259,000 $5,815 6.82%
    <20% 10 $2,880,000 $288,000 $4,620 6.85%
    42% 9 $2,535,000 $281,667 $7,203 6.57%
    48% 9 $2,285,000 $253,889 $5,885 6.66%
    45% 7 $2,285,000 $326,429 $6,067 7.09%
    43% 6 $1,860,000 $310,000 $4,597 6.71%
    38% 6 $1,570,000 $261,667 $4,677 6.94%
    >60% 5 $1,765,000 $353,000 $12,295 6.50%

    Family Finance Mortgage lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 50-60%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 256 $67,910,000 $265,273 $5,772 6.80%
    Not provided 30 $8,010,000 $267,000 $6,108 7.15%
    Black 21 $6,685,000 $318,333 $8,853 6.54%
    Asian 3 $995,000 $331,667 $3,584 7.12%

    Approval Rates

    Total approvals of all applications
    99.68%

    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
    99.35%

    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 310 $83,600,000 $269,677

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    310 $83,600,000 $269,677

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $520,000 $130,000 $5,825 6.84%
    40-60% 10 $1,710,000 $171,000 $5,070 6.76%
    60-80% 53 $13,795,000 $260,283 $4,691 7.11%
    80-100% 229 $62,235,000 $271,769 $5,884 6.77%
    Over 100% 14 $5,340,000 $381,429 $12,848 6.50%