K. Hovnanian American Mortgage Rates, Fees & Info

Matawan, NJ

LEI: 5493004N9PMBSLEZOF16

Tax ID: 16-1639437

3.2 stars - out of 5 stars, based on 64 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    K. Hovnanian American Mortgage is a small mortgage company specializing in 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, Phoenix, Washington, and Salisbury among others. We have data for 34 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 6.93% 11/26/22
    30 Year Conventional Refi 6.72% 11/26/22
    30 Year Cash-out Refi 6.61% 11/26/22
    30 Year FHA Purchase 7.77% 11/26/22
    30 Year VA Purchase 6.64% 11/26/22
    30 Year USDA Purchase 7.07% 11/26/22
    15 Year Conventional Purchase 6.17% 11/26/22
    15 Year Conventional Refi 6.01% 11/26/22
    15 Year Cash-out Refi 6.01% 11/26/22
    15 Year VA Purchase 6.65% 11/26/22
    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.


    Originations

    4,059

    Origination Dollar Volume (All Markets)

    $1,476,755,000
    Show all (5) awards

    Relative Rate

    K. Hovnanian American Mortgage's average 30 year fixed mortgage rate was 3.09%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.06%.

    Relative Fees (Closing Costs)

    K. Hovnanian American Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $6,724.

    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) 790 $227,110,000 $287,481 $5,405 3.04%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 441 $151,945,000 $344,546 $6,240 3.04%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 423 $136,775,000 $323,345 $6,118 3.12%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 214 $112,190,000 $524,252 $8,148 3.08%
    SALISBURY, MD-DE (FHA|USDA|VA) 289 $97,365,000 $336,903 $5,520 3.11%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 146 $80,750,000 $553,082 $6,489 3.12%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 197 $76,705,000 $389,365 $8,038 3.05%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 136 $69,730,000 $512,721 $7,959 3.03%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 151 $67,365,000 $446,126 $7,316 3.06%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 177 $62,365,000 $352,345 $7,163 3.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 170 $55,710,000 $327,706 $6,727 3.05%
    STOCKTON, CA (FHA|USDA|VA) 118 $50,600,000 $428,814 $8,749 3.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 100 $40,210,000 $402,100 $6,725 3.02%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 86 $25,390,000 $295,233 $4,528 2.93%
    FRESNO, CA (FHA|USDA|VA) 73 $24,855,000 $340,479 $7,361 2.96%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 39 $22,445,000 $575,513 $9,640 3.09%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 34 $17,350,000 $510,294 $11,018 2.97%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 60 $16,990,000 $283,167 $5,180 3.02%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 46 $16,920,000 $367,826 $5,734 2.99%
    YUBA CITY, CA (FHA|USDA|VA) 48 $16,070,000 $334,792 $7,962 3.01%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 52 $14,880,000 $286,154 $6,630 3.02%
    MODESTO, CA (FHA|USDA|VA) 30 $12,860,000 $428,667 $6,845 3.10%
    MADERA, CA (FHA|USDA|VA) 35 $12,355,000 $353,000 $8,109 2.91%
    BAKERSFIELD, CA (FHA|USDA|VA) 36 $11,930,000 $331,389 $7,879 2.89%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 20 $11,850,000 $592,500 $9,468 3.24%
    DOVER, DE (FHA|USDA|VA) 28 $9,390,000 $335,357 $6,939 2.94%
    MERCED, CA (FHA|USDA|VA) 25 $8,035,000 $321,400 $5,891 3.20%
    SAVANNAH, GA (FHA|USDA|VA) 20 $6,110,000 $305,500 $7,895 2.83%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 24 $5,960,000 $248,333 $6,521 2.97%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 19 $5,825,000 $306,579 $7,628 3.10%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 21 $5,795,000 $275,952 $7,382 2.95%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,660,000 $276,667 $6,751 3.29%
    AKRON, OH (FHA|USDA|VA) 3 $865,000 $288,333 $9,392 2.96%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 2 $400,000 $200,000 $4,215 3.19%
    K. Hovnanian American Mortgage's top markets include Houston, Dallas, Phoenix, Washington, and Salisbury among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (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
    Similarity Rank: 170
    First Credit Union
    Similarity Rank: 378
    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 624
    Hebron Savings Bank
    Similarity Rank: 676
    USC Credit Union
    Similarity Rank: 880
    ALTURA
    Similarity Rank: 923
    First City Credit Union
    Similarity Rank: 924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,976 $1,077,110,000 $361,932 $5,399 3.07%
    FHA 686 $232,260,000 $338,571 $11,052 3.06%
    VA 388 $164,800,000 $424,742 $7,834 2.86%
    USDA 9 $2,585,000 $287,222 $7,444 2.89%

    For 2021, K. Hovnanian American Mortgage's most frequently originated type of loan was Conventional, with 2,976 originations. Their 2nd most popular type was FHA, with 686 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,054 $1,475,170,000 $363,880 $6,595 3.05%
    Refi 5 $1,585,000 $317,000 $4,703 2.73%

    For 2021, K. Hovnanian American Mortgage's most frequently cited loan purpose was Home Purchase, with 4,054 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,785 $1,401,255,000 $370,213 $6,724 3.09%
    15 Year 228 $63,090,000 $276,711 $4,800 2.45%
    20 Year 33 $10,215,000 $309,545 $5,046 2.94%
    10 Year 11 $1,635,000 $148,636 $3,109 2.44%
    Other 2 $560,000 $280,000 $5,704 2.81%

    For 2021, K. Hovnanian American Mortgage's most frequently cited loan duration was 30 Year, with 3,785 originations. The 2nd most popular length was 15 Year, with 228 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,295 $813,545,000 $354,486
    $2k-3k 437 $149,145,000 $341,293
    $<1k 422 $140,030,000 $331,825
    $5k+ 377 $179,095,000 $475,053
    $3k-4k 320 $116,000,000 $362,500
    $4k-5k 208 $78,940,000 $379,519

    K. Hovnanian American Mortgage's average total fees were $6,724, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,295 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,938 $687,820,000 $354,912
    3-4% 1,832 $699,860,000 $382,020
    <2.5% 249 $75,225,000 $302,108
    4-5% 40 $13,850,000 $346,250

    During 2021, K. Hovnanian American Mortgage's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,938 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,434 $747,020,000 $306,910 $6,336 3.04%
    $400k-600k 1,156 $552,850,000 $478,244 $7,240 3.07%
    $100k-200k 234 $36,700,000 $156,838 $3,789 2.93%
    $600k-1MM 193 $136,945,000 $709,560 $10,179 3.22%
    $100,000 or less 42 $3,240,000 $77,143 $2,674 2.85%

    2021 saw K. Hovnanian American Mortgage place emphasis on $200k-400k loans with 2,434 originations, totaling $747,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,360 $510,610,000 $375,449 $6,602 3.05%
    $150k-250k 836 $362,400,000 $433,493 $6,656 3.10%
    $75k-100k 833 $274,975,000 $330,102 $6,956 3.02%
    $50k-75k 655 $181,235,000 $276,695 $6,313 2.99%
    $250k+ 274 $127,040,000 $463,650 $6,546 3.17%
    $50k or less 101 $20,495,000 $202,921 $4,867 2.98%

    K. Hovnanian American Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,360 originations. The second most popular income band? $150k-250k, with 836 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 783 $285,395,000 $364,489 $5,803 3.04%
    30-36% 696 $256,330,000 $368,290 $6,109 3.05%
    50-60% 287 $108,205,000 $377,021 $10,370 3.00%
    <20% 233 $77,775,000 $333,798 $5,220 2.97%
    40% 181 $67,645,000 $373,729 $6,973 3.08%
    42% 170 $61,490,000 $361,706 $6,319 3.06%
    44% 169 $58,685,000 $347,249 $6,450 3.09%
    43% 154 $53,890,000 $349,935 $6,767 3.08%
    36% 153 $55,695,000 $364,020 $6,217 3.09%
    38% 152 $56,080,000 $368,947 $6,679 3.07%
    39% 152 $56,000,000 $368,421 $6,226 3.08%
    41% 142 $53,950,000 $379,930 $6,185 3.14%
    49% 137 $48,255,000 $352,226 $7,454 3.06%
    37% 136 $52,760,000 $387,941 $7,119 3.06%
    46% 132 $46,640,000 $353,333 $7,398 3.00%
    45% 131 $47,375,000 $361,641 $6,815 3.09%
    48% 129 $47,565,000 $368,721 $6,726 3.02%
    47% 120 $42,130,000 $351,083 $6,485 3.06%
    >60% 2 $890,000 $445,000 $2,008 2.81%

    K. Hovnanian American Mortgage lent most frequently to those with DTI ratios of 20-30%, with 783 originations. The next most common DTI ratio? 30-36%, with 696 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,272 $796,160,000 $350,423 $6,366 3.05%
    Asian 772 $308,100,000 $399,093 $6,199 3.05%
    Black 517 $189,455,000 $366,451 $7,752 3.06%
    Not provided 459 $169,145,000 $368,508 $6,989 3.04%
    American Indian 30 $10,470,000 $349,000 $8,066 3.04%
    Native Hawaiian or Islander 5 $2,005,000 $401,000 $6,071 2.85%
    Asian Indian 2 $520,000 $260,000 $3,511 3.63%
    Filipino 1 $485,000 $485,000 $8,477 3.88%
    Chinese 1 $415,000 $415,000 $5,481 3.13%

    Approval Rates

    Total approvals of all applications
    91.14%

    K. Hovnanian American Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.56%

    K. Hovnanian American Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,059 $1,476,755,000 $363,822

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,059 $1,476,755,000 $363,822

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 154 $24,030,000 $156,039 $3,451 2.81%
    40-60% 291 $77,285,000 $265,584 $4,646 2.94%
    60-80% 950 $352,580,000 $371,137 $5,729 3.08%
    80-100% 2,505 $962,805,000 $384,353 $6,955 3.08%
    Over 100% 132 $57,890,000 $438,561 $14,569 2.87%
    Under 20% 27 $2,165,000 $80,185 $3,063 2.85%