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

Jump to:

  • 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 Refi and 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, Kansas City, Chicago, Farmington, and Rolla 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% 11/21/24
    30 Year Conventional Refi 6.27% 11/21/24
    30 Year Cash-out Refi 6.27% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    30 Year VA Refi 6.27% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 5.68% 11/21/24
    15 Year Conventional Refi 5.68% 11/21/24
    15 Year Cash-out Refi 5.68% 11/21/24
    15 Year VA Purchase 5.68% 11/21/24
    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

    725

    Origination Dollar Volume (All Markets)

    $156,995,000

    Awards

    FAMILY FINANCE MORTGAGE VA Loans silver
    Show all (1) 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) 686 $148,790,000 $216,895 $3,733 3.38%
    Outside of Metro Areas 19 $3,725,000 $196,053 $3,121 3.28%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 6 $1,400,000 $233,333 $2,471 3.27%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $845,000 $281,667 $3,563 3.17%
    Farmington, MO (FHA|USDA|VA) 4 $720,000 $180,000 $3,547 3.34%
    Rolla, MO (FHA|USDA|VA) 2 $540,000 $270,000 $2,839 3.19%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $345,000 $345,000 $2,775 3.49%
    Branson, MO (FHA|USDA|VA) 1 $295,000 $295,000 $3,100 2.75%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $185,000 $185,000 $2,894 2.75%
    Poplar Bluff, MO (FHA|USDA|VA) 1 $85,000 $85,000 $1,811 2.88%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $65,000 $65,000 $1,675 3.63%
    Family Finance Mortgage's top markets include St. Louis, Kansas City, Chicago, Farmington, and Rolla 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.

    HNB National Bank
    Similarity Rank: 165
    United Bank of Union
    Similarity Rank: 245
    CapGrow Home Mortgage, LLC
    Similarity Rank: 352
    Prairie State Bank and Trust
    Similarity Rank: 360
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 428
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 770
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 1090
    MISSOURI Credit Union
    Similarity Rank: 1216
    INB
    Similarity Rank: 1241
    ALLTRU Federal Credit Union
    Similarity Rank: 1316

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 495 $109,345,000 $220,899 $2,681 3.35%
    FHA 142 $26,420,000 $186,056 $6,647 3.56%
    VA 79 $19,825,000 $250,949 $4,468 3.18%
    USDA 9 $1,405,000 $156,111 $5,859 3.74%

    For 2020, Family Finance Mortgage's most frequently originated type of loan was Conventional, with 495 originations. Their 2nd most popular type was FHA, with 142 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 372 $84,910,000 $228,253 $2,716 3.24%
    Home Purchase 308 $62,810,000 $203,929 $4,964 3.52%
    Cash Out Refi 45 $9,275,000 $206,111 $3,055 3.49%

    For 2020, Family Finance Mortgage's most frequently cited loan purpose was Refi, with 372 originations. The 2nd most popular reason was Home Purchase, with 308 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 622 $133,510,000 $214,646 $3,920 3.45%
    15 Year 61 $13,535,000 $221,885 $2,342 2.86%
    Other 26 $6,450,000 $248,077 $2,500 3.02%
    20 Year 15 $3,365,000 $224,333 $1,959 3.11%
    10 Year 1 $135,000 $135,000 $1,525 2.50%

    For 2020, Family Finance Mortgage's most frequently cited loan duration was 30 Year, with 622 originations. The 2nd most popular length was 15 Year, with 61 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 394 $83,960,000 $213,096
    $<1k 239 $55,935,000 $234,038
    $2k-3k 49 $8,115,000 $165,612
    $3k-4k 23 $4,095,000 $178,043
    $4k-5k 12 $2,770,000 $230,833
    $5k+ 7 $1,675,000 $239,286

    Family Finance Mortgage's average total fees were $3,920, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 394 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 374 $80,710,000 $215,802
    2.5-3% 221 $52,015,000 $235,362
    4-5% 89 $14,895,000 $167,360
    <2.5% 35 $8,615,000 $246,143
    5-6% 6 $760,000 $126,667

    During 2020, Family Finance Mortgage's average interest rate for loans was 3.45%, while their most frequently originated rate bucket for loans was 3-4%, with 374 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 326 $88,720,000 $272,147 $3,950 3.27%
    $100k-200k 325 $49,435,000 $152,108 $3,489 3.45%
    $100,000 or less 40 $3,320,000 $83,000 $3,939 3.82%
    $400k-600k 34 $15,520,000 $456,471 $2,892 3.13%

    2020 saw Family Finance Mortgage place emphasis on $200k-400k loans with 326 originations, totaling $88,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 184 $34,950,000 $189,946 $3,996 3.43%
    $100k-150k 175 $45,165,000 $258,086 $3,470 3.31%
    $50k or less 163 $24,205,000 $148,497 $3,884 3.47%
    $75k-100k 109 $24,015,000 $220,321 $3,792 3.38%
    $150k-250k 78 $23,500,000 $301,282 $3,044 3.19%
    $250k+ 16 $5,160,000 $322,500 $3,187 3.35%

    Family Finance Mortgage lent most frequently to those with incomes in the $50k-75k range, with 184 originations. The second most popular income band? $100k-150k, with 175 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 166 $38,690,000 $233,072 $3,201 3.24%
    30-36% 126 $25,960,000 $206,032 $3,211 3.43%
    <20% 86 $17,830,000 $207,326 $2,754 3.32%
    50-60% 38 $8,560,000 $225,263 $7,001 3.37%
    36% 30 $6,950,000 $231,667 $3,512 3.29%
    41% 29 $6,115,000 $210,862 $3,515 3.30%
    38% 27 $5,465,000 $202,407 $4,882 3.51%
    48% 25 $4,455,000 $178,200 $5,095 3.38%
    45% 24 $4,670,000 $194,583 $4,742 3.43%
    42% 23 $4,705,000 $204,565 $3,362 3.57%
    37% 23 $4,935,000 $214,565 $3,710 3.53%
    44% 22 $4,720,000 $214,545 $4,129 3.48%
    43% 20 $5,370,000 $268,500 $4,373 3.57%
    39% 18 $3,420,000 $190,000 $3,059 3.30%
    40% 17 $3,735,000 $219,706 $3,712 3.54%
    49% 12 $2,750,000 $229,167 $2,579 3.49%
    47% 10 $2,490,000 $249,000 $5,459 3.70%
    46% 8 $1,570,000 $196,250 $4,551 3.01%
    >60% 5 $1,125,000 $225,000 $4,915 3.87%

    Family Finance Mortgage lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 126 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 647 $139,735,000 $215,974 $3,562 3.38%
    Black 34 $7,870,000 $231,471 $5,018 3.34%
    Not provided 37 $7,755,000 $209,595 $4,424 3.21%
    Asian 4 $850,000 $212,500 $6,193 3.84%
    American Indian 1 $365,000 $365,000 $3,559 3.12%
    Native Hawaiian or Islander 1 $265,000 $265,000 $7,779 2.75%
    Asian Indian 1 $155,000 $155,000 $2,596 3.25%

    Approval Rates

    Total approvals of all applications
    99.47%

    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
    97.38%

    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 725 $156,995,000 $216,545

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 725 $156,995,000 $216,545

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,015,000 $145,000 $2,219 3.35%
    40-60% 29 $5,225,000 $180,172 $2,273 2.91%
    60-80% 231 $48,645,000 $210,584 $2,595 3.27%
    80-100% 444 $98,160,000 $221,081 $4,188 3.46%
    Over 100% 14 $3,950,000 $282,143 $10,232 3.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Family First Funding LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Family First Funding LLC FHA mortgage Closing on a mortgage 1 50.0%