K. Hovnanian American Mortgage Rates, Fees & Info

Matawan, NJ

LEI: 5493004N9PMBSLEZOF16

Tax ID: 16-1639437

2.4 stars - Updated: 2/19/24 - out of 5 stars, based on 54 reviews

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

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Mortgage Data

Review & Overview

K. Hovnanian American Mortgage is a small mortgage company specializing in Home Purchase loans. K. Hovnanian American 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: Houston, Dallas, Washington, Phoenix, and New York among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)

K. Hovnanian American Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. K. Hovnanian American Mortgage is typically a high 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 6.51% 2/19/24
30 Year Conventional Refi 4.91% 2/19/24
30 Year FHA Purchase 7.26% 2/19/24
30 Year VA Purchase 6.11% 2/19/24
30 Year USDA Purchase 7.16% 2/19/24
15 Year Conventional Purchase 6.20% 2/19/24
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.

K. Hovnanian American Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from K. Hovnanian American 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

2,884

Origination Dollar Volume (All Markets)

$1,166,850,000
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Relative Rate

K. Hovnanian American Mortgage's average 30 year fixed mortgage rate was 4.91%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

K. Hovnanian American Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $8,711.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 504 $167,180,000 $331,706 $7,623 4.78%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 342 $136,430,000 $398,918 $8,055 4.81%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 219 $121,335,000 $554,041 $11,318 5.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 310 $113,030,000 $364,613 $8,243 4.92%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 149 $76,135,000 $510,973 $9,893 4.94%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 143 $76,135,000 $532,413 $10,191 4.59%
SALISBURY, MD-DE (FHA|USDA|VA) 129 $51,795,000 $401,512 $7,825 5.04%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 82 $38,700,000 $471,951 $9,814 5.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 84 $31,460,000 $374,524 $7,495 4.66%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 64 $28,880,000 $451,250 $7,014 4.87%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 75 $28,765,000 $383,533 $7,809 4.86%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 68 $27,300,000 $401,471 $7,881 5.26%
STOCKTON, CA (FHA|USDA|VA) 49 $24,465,000 $499,286 $11,247 4.71%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 62 $22,930,000 $369,839 $9,276 4.72%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 63 $20,435,000 $324,365 $6,388 4.51%
PORT ST. LUCIE, FL (FHA|USDA|VA) 57 $20,125,000 $353,070 $8,457 5.31%
DOVER, DE (FHA|USDA|VA) 52 $20,060,000 $385,769 $9,031 4.94%
YUBA CITY, CA (FHA|USDA|VA) 42 $17,950,000 $427,381 $11,052 4.83%
MODESTO, CA (FHA|USDA|VA) 35 $17,435,000 $498,143 $8,615 4.57%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 54 $16,110,000 $298,333 $8,430 5.05%
BAKERSFIELD, CA (FHA|USDA|VA) 38 $15,050,000 $396,053 $10,498 5.01%
MERCED, CA (FHA|USDA|VA) 31 $12,275,000 $395,968 $8,535 4.39%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 28 $11,620,000 $415,000 $8,242 4.84%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 20 $10,860,000 $543,000 $12,141 4.09%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 34 $10,240,000 $301,176 $6,785 4.85%
MADERA, CA (FHA|USDA|VA) 26 $9,390,000 $361,154 $6,689 4.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 28 $9,180,000 $327,857 $9,357 5.19%
SAVANNAH, GA (FHA|USDA|VA) 25 $8,245,000 $329,800 $7,573 4.92%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 11 $7,755,000 $705,000 $10,583 4.48%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 30 $6,360,000 $212,000 $5,651 5.40%
AKRON, OH (FHA|USDA|VA) 15 $3,585,000 $239,000 $4,397 4.92%
FRESNO, CA (FHA|USDA|VA) 5 $2,205,000 $441,000 $11,622 3.80%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $1,150,000 $287,500 $10,620 6.25%
CANTON-MASSILLON, OH (FHA|USDA|VA) 3 $1,005,000 $335,000 $7,298 4.66%
SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $680,000 $340,000 $6,551 4.69%
VALLEJO, CA (FHA|USDA|VA) 1 $595,000 $595,000 $18,272 5.63%
K. Hovnanian American Mortgage's top markets include Houston, Dallas, Washington, Phoenix, and New York among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against K. HOVNANIAN AMERICAN MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Los Angeles Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,169 $860,715,000 $396,826 $7,436 4.90%
    FHA 411 $159,265,000 $387,506 $13,755 4.87%
    VA 303 $146,305,000 $482,855 $9,810 4.68%
    USDA 1 $565,000 $565,000 $21,917 4.13%

    For 2022, K. Hovnanian American Mortgage's most frequently originated type of loan was Conventional, with 2,169 originations. Their 2nd most popular type was FHA, with 411 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,883 $1,166,315,000 $404,549 $8,594 4.87%
    Refi 1 $535,000 $535,000 $0 5.38%

    For 2022, K. Hovnanian American Mortgage's most frequently cited loan purpose was Home Purchase, with 2,883 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,746 $1,127,460,000 $410,583 $8,711 4.91%
    15 Year 127 $36,675,000 $288,780 $6,291 4.17%
    10 Year 6 $1,210,000 $201,667 $3,284 4.02%
    20 Year 3 $1,095,000 $365,000 $8,571 4.29%
    30+ year 1 $305,000 $305,000 $8,898 6.75%
    Other 1 $105,000 $105,000 $2,308 6.38%

    For 2022, K. Hovnanian American Mortgage's most frequently cited loan duration was 30 Year, with 2,746 originations. The 2nd most popular length was 15 Year, with 127 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 952 $439,050,000 $461,187
    $1k-2k 844 $338,280,000 $400,806
    $<1k 283 $94,055,000 $332,350
    $3k-4k 275 $98,605,000 $358,564
    $4k-5k 271 $103,255,000 $381,015
    $2k-3k 259 $93,605,000 $361,409

    K. Hovnanian American Mortgage's average total fees were $8,711, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 952 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 970 $388,410,000 $400,423
    4-5% 839 $348,345,000 $415,191
    3-4% 672 $264,120,000 $393,036
    6-7% 277 $114,165,000 $412,148
    2.5-3% 79 $32,305,000 $408,924
    7-8% 34 $15,530,000 $456,765
    <2.5% 13 $3,975,000 $305,769

    During 2022, K. Hovnanian American Mortgage's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 5-6%, with 970 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,330 $427,040,000 $321,083 $7,694 4.83%
    $400k-600k 1,098 $529,840,000 $482,550 $9,352 4.89%
    $600k-1MM 256 $175,720,000 $686,406 $13,223 5.02%
    $100k-200k 167 $26,145,000 $156,557 $4,197 4.96%
    $100,000 or less 28 $1,910,000 $68,214 $2,302 4.57%
    $1MM+ 5 $6,195,000 $1,239,000 $24,918 4.13%

    2022 saw K. Hovnanian American Mortgage place emphasis on $200k-400k loans with 1,330 originations, totaling $427,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,032 $419,590,000 $406,579 $8,751 4.85%
    $150k-250k 832 $382,730,000 $460,012 $8,918 5.00%
    $75k-100k 466 $160,300,000 $343,991 $8,137 4.76%
    $50k-75k 266 $73,170,000 $275,075 $7,132 4.68%
    $250k+ 253 $125,305,000 $495,277 $9,811 5.02%
    $50k or less 35 $5,755,000 $164,429 $4,400 4.56%

    K. Hovnanian American Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,032 originations. The second most popular income band? $150k-250k, with 832 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 463 $186,525,000 $402,862 $7,654 4.82%
    20-30% 424 $157,620,000 $371,745 $7,161 4.73%
    50-60% 257 $108,965,000 $423,988 $12,173 4.99%
    49% 148 $58,370,000 $394,392 $9,713 4.96%
    44% 135 $60,625,000 $449,074 $9,051 4.90%
    48% 127 $52,365,000 $412,323 $8,812 4.97%
    47% 124 $50,800,000 $409,677 $8,733 4.96%
    45% 123 $50,575,000 $411,179 $8,504 4.91%
    43% 119 $47,655,000 $400,462 $8,581 4.79%
    42% 118 $51,310,000 $434,831 $8,851 4.94%
    40% 112 $49,880,000 $445,357 $9,168 4.99%
    <20% 108 $35,200,000 $325,926 $6,576 4.82%
    38% 108 $45,520,000 $421,481 $9,054 4.88%
    46% 107 $43,675,000 $408,178 $10,037 4.87%
    41% 104 $41,700,000 $400,962 $8,488 5.05%
    39% 103 $40,565,000 $393,835 $7,839 4.86%
    37% 98 $41,480,000 $423,265 $8,495 4.83%
    36% 91 $36,295,000 $398,846 $7,197 4.86%
    >60% 15 $7,725,000 $515,000 $8,571 4.72%

    K. Hovnanian American Mortgage lent most frequently to those with DTI ratios of 30-36%, with 463 originations. The next most common DTI ratio? 20-30%, with 424 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,457 $552,145,000 $378,960 $8,178 4.86%
    Asian 663 $293,685,000 $442,964 $8,451 4.82%
    Black 376 $160,320,000 $426,383 $9,898 4.90%
    Not provided 337 $140,045,000 $415,564 $8,953 5.05%
    American Indian 23 $8,825,000 $383,696 $9,179 4.65%
    Native Hawaiian or Islander 7 $3,775,000 $539,286 $14,515 4.46%
    Asian Indian 11 $3,625,000 $329,545 $7,577 4.85%
    Filipino 5 $2,335,000 $467,000 $14,283 4.88%
    Korean 1 $885,000 $885,000 $13,747 3.38%
    Chinese 1 $345,000 $345,000 $10,499 5.13%
    Vietnamese 1 $325,000 $325,000 $12,867 6.13%
    Other Asian 1 $305,000 $305,000 $3,933 5.13%
    1 $235,000 $235,000 $11,076 5.99%

    Approval Rates

    Total approvals of all applications
    90.13%

    K. Hovnanian American Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    39.53%

    K. Hovnanian American Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,884 $1,166,850,000 $404,594

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,884 $1,166,850,000 $404,594

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 161 $29,665,000 $184,255 $4,829 5.07%
    40-60% 262 $80,230,000 $306,221 $6,423 4.80%
    60-80% 731 $301,735,000 $412,770 $8,147 4.94%
    80-100% 1,615 $713,575,000 $441,842 $9,212 4.85%
    Over 100% 78 $38,280,000 $490,769 $17,460 4.79%
    Under 20% 37 $3,365,000 $90,946 $3,277 4.60%