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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Houston, Dallas, Phoenix, Washington, and Salisbury among others. K. Hovnanian American Mortgage has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. K. Hovnanian American Mortgage is typically a high fee lendor.


Originations

4,059

Origination Dollar Volume (All Markets)

$1,476,755,000
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Relative Rate

K. Hovnanian American Mortgage 's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

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

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, K. Hovnanian American Mortgage 's most frequently originated loan type of loans were Conventional, with 2,976 originations. Their 2nd most popular type is FHA, with 686 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, K. Hovnanian American Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 4,054 originations. The 2nd most popular reason of loans were 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 the 2021, K. Hovnanian American Mortgage 's most frequently cited loan length of loans were 30 Year, with 3,785 originations. The 2nd most popular length of loans were 15 Year, with 228 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,295 $813,545,000 $354,486
$3k-4k 528 $194,940,000 $369,205
$2k-3k 437 $149,145,000 $341,293
$<1k 422 $140,030,000 $331,825
$5k+ 377 $179,095,000 $475,053

$6,724 of loans were K. Hovnanian American Mortgage 's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.09%, while their most frequently originated rate bucket of loans were 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 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
88.37%

K. Hovnanian American Mortgage has an average approval rate.

Pick Rate

Approvals leading to origination
70.48%

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%