K. Hovnanian American Mortgage Rates, Fees & Info
Matawan, NJLEI: 5493004N9PMBSLEZOF16
Tax ID: 16-1639437
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
4,059Origination Dollar Volume (All Markets)
$1,476,755,000Awards
K. HOVNANIAN AMERICAN MORTGAGE - 2021
K. HOVNANIAN AMERICAN MORTGAGE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications88.37%
K. Hovnanian American Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination70.48%
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% |
