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 loans. Family Finance Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Farmington, Denver, Kansas City, and Branson among others. We have data for 6 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| 15 Year VA Purchase | 5.68% | 4/21/24 |
| 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. | ||
Family Finance Mortgage Mortgage Calculator
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This is not an official calculator from Family Finance Mortgage. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
156Origination Dollar Volume (All Markets)
$31,580,000Awards
FAMILY FINANCE MORTGAGE - 2018
FAMILY FINANCE MORTGAGE is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 138 | $28,360,000 | $205,507 | $2,727 | 4.91% |
| Outside of Metro Areas | 8 | $1,460,000 | $182,500 | $2,573 | 4.94% |
| Farmington, MO (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $1,880 | 4.98% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,320 | 5.19% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,223 | 4.38% |
| Branson, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,232 | 5.13% |
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: 100
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Similarity Rank: 415
Similarity Rank: 576
Similarity Rank: 679
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 118 | $24,450,000 | $207,203 | $2,687 | 4.97% |
| VA | 23 | $5,205,000 | $226,304 | $3,706 | 4.66% |
| USDA | 15 | $1,925,000 | $128,333 | $1,283 | 4.82% |
For 2018, Family Finance Mortgage's most frequently originated type of loan was Conventional, with 118 originations. Their 2nd most popular type was VA, with 23 originations.
Loan Reason
For 2018, Family Finance Mortgage's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.
Loan Duration/Length
For 2018, Family Finance Mortgage's most frequently cited loan duration was 30 Year, with 142 originations. The 2nd most popular length was 15 Year, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 91 | $18,865,000 | $207,308 |
| 5-6% | 54 | $9,590,000 | $177,593 |
| 3-4% | 9 | $2,615,000 | $290,556 |
During 2018, Family Finance Mortgage's average interest rate for loans was 4.97%, while their most frequently originated rate bucket for loans was 4-5%, with 91 originations.
Loan Sizing
2018 saw Family Finance Mortgage place emphasis on $100k-200k loans with 79 originations, totaling $11,475,000 in origination value.
Applicant Income
Family Finance Mortgage lent most frequently to those with incomes in the $50k or less range, with 50 originations. The second most popular income band? $50k-75k, with 39 originations.
Applicant Debt to Income Ratio
Family Finance Mortgage lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.80%
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 origination94.87%
Family Finance Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 156 | $31,580,000 | $202,436 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 156 | $31,580,000 | $202,436 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Family First Funding LLC | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |