Family Finance Mortgage Rates, Fees & Info

Arnold, MO

LEI: 5493004G43JM6M5BFR40

Tax ID: 32-0029618

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Chicago, and Denver among others. We have data for 11 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 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






    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

    408

    Origination Dollar Volume (All Markets)

    $83,710,000
    Show all (5) awards

    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) 381 $78,895,000 $207,073 $3,252 4.34%
    Outside of Metro Areas 11 $1,875,000 $170,455 $3,000 4.48%
    Farmington, MO (FHA|USDA|VA) 6 $830,000 $138,333 $3,420 4.31%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $625,000 $208,333 $2,472 4.75%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $345,000 $345,000 $3,208 4.25%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $275,000 $275,000 $1,390 4.00%
    JOPLIN, MO (FHA|USDA|VA) 1 $235,000 $235,000 $2,769 3.50%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $195,000 $195,000 $2,668 4.38%
    COLUMBIA, MO (FHA|USDA|VA) 1 $185,000 $185,000 $2,123 5.00%
    Sikeston, MO (FHA|USDA|VA) 1 $155,000 $155,000 $1,903 4.13%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $95,000 $95,000 $965 4.13%
    Family Finance Mortgage's top markets include St. Louis, Farmington, Kansas City, Chicago, and Denver among others.

    Their top states include:
  • Missouri (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.

    WEST COMMUNITY
    Similarity Rank: 190
    United Bank of Union
    Similarity Rank: 275
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 302
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 396
    Dieterich Bank
    Similarity Rank: 442
    CapGrow Home Mortgage, LLC
    Similarity Rank: 450
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 490
    ALLTRU Federal Credit Union
    Similarity Rank: 780
    JERSEY STATE BANK
    Similarity Rank: 792
    First Mid Bank & Trust
    Similarity Rank: 1020

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 288 $61,570,000 $213,785 $2,838 4.43%
    FHA 57 $9,765,000 $171,316 $4,432 4.01%
    VA 46 $10,110,000 $219,783 $4,271 4.26%
    USDA 17 $2,265,000 $133,235 $2,656 4.29%

    For 2019, Family Finance Mortgage's most frequently originated type of loan was Conventional, with 288 originations. Their 2nd most popular type was FHA, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 245 $46,875,000 $191,327 $3,459 4.41%
    Refi 119 $26,525,000 $222,899 $2,719 4.20%
    Cash Out Refi 44 $10,310,000 $234,318 $3,271 4.42%

    For 2019, Family Finance Mortgage's most frequently cited loan purpose was Home Purchase, with 245 originations. The 2nd most popular reason was Refi, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 367 $75,705,000 $206,281 $3,292 4.38%
    15 Year 25 $4,905,000 $196,200 $2,558 3.97%
    20 Year 8 $1,630,000 $203,750 $2,548 4.08%
    Other 6 $1,340,000 $223,333 $2,935 4.55%
    10 Year 2 $130,000 $65,000 $2,288 4.06%

    For 2019, Family Finance Mortgage's most frequently cited loan duration was 30 Year, with 367 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 230 $48,130,000 $209,261
    $<1k 51 $9,815,000 $192,451
    $2k-3k 14 $2,370,000 $169,286
    $4k-5k 5 $995,000 $199,000
    $3k-4k 4 $800,000 $200,000
    $5k+ 3 $755,000 $251,667

    Family Finance Mortgage's average total fees were $3,292, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 230 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 243 $50,355,000 $207,222
    3-4% 133 $28,045,000 $210,865
    5-6% 32 $5,310,000 $165,938

    During 2019, Family Finance Mortgage's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 243 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 205 $30,755,000 $150,024 $3,035 4.40%
    $200k-400k 155 $41,535,000 $267,968 $3,392 4.24%
    $100,000 or less 30 $2,550,000 $85,000 $2,864 4.55%
    $400k-600k 15 $6,925,000 $461,667 $4,889 4.27%
    $600k-1MM 3 $1,945,000 $648,333 $2,987 4.54%

    2019 saw Family Finance Mortgage place emphasis on $100k-200k loans with 205 originations, totaling $30,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 125 $21,265,000 $170,120 $3,008 4.36%
    $50k or less 86 $11,910,000 $138,488 $3,086 4.46%
    $100k-150k 75 $19,215,000 $256,200 $3,263 4.40%
    $75k-100k 75 $16,535,000 $220,467 $3,529 4.28%
    $150k-250k 30 $10,230,000 $341,000 $3,037 4.15%
    $250k+ 8 $2,850,000 $356,250 $5,406 4.36%

    Family Finance Mortgage lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $50k or less, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 90 $17,740,000 $197,111 $2,999 4.36%
    30-36% 82 $16,950,000 $206,707 $3,075 4.31%
    <20% 31 $6,075,000 $195,968 $2,733 4.22%
    50-60% 24 $4,520,000 $188,333 $3,319 4.19%
    40% 17 $3,155,000 $185,588 $3,281 4.35%
    48% 17 $4,265,000 $250,882 $3,566 4.52%
    39% 15 $3,275,000 $218,333 $3,589 4.63%
    49% 15 $3,295,000 $219,667 $4,365 4.33%
    38% 13 $3,045,000 $234,231 $3,012 4.29%
    44% 13 $2,405,000 $185,000 $3,835 4.44%
    46% 12 $2,420,000 $201,667 $3,045 4.33%
    42% 11 $2,645,000 $240,455 $2,704 4.45%
    36% 11 $1,845,000 $167,727 $3,776 4.63%
    47% 10 $2,150,000 $215,000 $2,594 4.57%
    37% 10 $1,950,000 $195,000 $4,396 4.16%
    43% 9 $1,945,000 $216,111 $2,917 4.56%
    41% 8 $1,820,000 $227,500 $3,655 4.16%
    45% 5 $825,000 $165,000 $3,644 4.68%
    >60% 3 $835,000 $278,333 $5,978 4.38%

    Family Finance Mortgage lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 377 $77,645,000 $205,955 $3,214 4.35%
    Not provided 16 $3,350,000 $209,375 $3,432 4.24%
    Black 15 $2,715,000 $181,000 $3,210 4.32%

    Approval Rates

    Total approvals of all applications
    99.28%

    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
    98.28%

    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 408 $83,710,000 $205,172

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $175,000 $175,000
    Single Family (1-4 Units):Site-Built 407 $83,535,000 $205,246

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $265,000 $88,333 $2,553 3.88%
    40-60% 9 $1,175,000 $130,556 $2,372 4.28%
    60-80% 97 $19,895,000 $205,103 $2,829 4.36%
    80-100% 281 $58,515,000 $208,238 $3,221 4.36%
    Over 100% 7 $1,865,000 $266,429 $7,294 4.18%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Family First Funding LLC Other type of mortgage Struggling to pay mortgage 1 100.0%