K. Hovnanian American Mortgage Rates, Fees & Info
Matawan, NJLEI: 5493004N9PMBSLEZOF16
Tax ID: 16-1639437
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Mortgage Data
Review & Overview
K. Hovnanian American Mortgage is a smaller 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: Washington, Houston, New York, Dallas, and Orlando among others. We have data for 28 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 an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 12/16/24 |
| 30 Year Conventional Refi | 4.91% | 12/16/24 |
| 30 Year FHA Purchase | 7.26% | 12/16/24 |
| 30 Year VA Purchase | 6.11% | 12/16/24 |
| 30 Year USDA Purchase | 7.16% | 12/16/24 |
| 15 Year Conventional Purchase | 6.20% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
709Origination Dollar Volume (All Markets)
$242,075,000Awards
K. HOVNANIAN AMERICAN MORTGAGE - 2018
K. HOVNANIAN AMERICAN MORTGAGE is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 66 | $35,120,000 | $532,121 | $6,458 | 4.48% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 114 | $29,310,000 | $257,105 | $6,194 | 4.54% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 60 | $22,900,000 | $381,667 | $4,825 | 4.62% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 64 | $22,020,000 | $344,063 | $6,418 | 4.47% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 62 | $18,180,000 | $293,226 | $6,487 | 4.57% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 51 | $17,845,000 | $349,902 | $5,138 | 4.60% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 57 | $17,715,000 | $310,789 | $5,971 | 4.53% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 36 | $14,210,000 | $394,722 | $6,484 | 4.64% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 25 | $8,745,000 | $349,800 | $6,311 | 4.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 26 | $7,520,000 | $289,231 | $5,830 | 4.52% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 14 | $6,450,000 | $460,714 | $8,371 | 4.39% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 15 | $6,345,000 | $423,000 | $4,913 | 4.70% |
| DOVER, DE (FHA|USDA|VA) | 17 | $5,305,000 | $312,059 | $5,871 | 4.59% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 16 | $4,940,000 | $308,750 | $6,350 | 4.62% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 7 | $4,825,000 | $689,286 | $7,462 | 4.32% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 16 | $4,420,000 | $276,250 | $3,777 | 4.27% |
| YUBA CITY, CA (FHA|USDA|VA) | 15 | $4,215,000 | $281,000 | $7,478 | 4.53% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 17 | $4,035,000 | $237,353 | $3,727 | 4.43% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 10 | $1,860,000 | $186,000 | $5,674 | 4.43% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 3 | $1,675,000 | $558,333 | $15,158 | 4.71% |
| MERCED, CA (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $7,068 | 4.53% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $6,241 | 4.83% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $6,116 | 4.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $8,411 | 4.29% |
| Outside of Metro Areas | 2 | $410,000 | $205,000 | $2,031 | 4.56% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 4.75% |
| AKRON, OH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,776 | 3.88% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,822 | 3.88% |
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.
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Product Mix
For 2018, K. Hovnanian American Mortgage's most frequently originated type of loan was Conventional, with 555 originations. Their 2nd most popular type was FHA, with 90 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 709 | $242,075,000 | $341,432 | $6,031 | 4.53% |
For 2018, K. Hovnanian American Mortgage's most frequently cited loan purpose was Home Purchase, with 709 originations.
Loan Duration/Length
For 2018, K. Hovnanian American Mortgage's most frequently cited loan duration was 30 Year, with 652 originations. The 2nd most popular length was 15 Year, with 40 originations.
Origination Fees/Closing Costs
K. Hovnanian American Mortgage's average total fees were $6,153, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 312 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 543 | $187,195,000 | $344,742 |
| 3-4% | 104 | $33,510,000 | $322,212 |
| 5-6% | 61 | $21,135,000 | $346,475 |
| 6-7% | 1 | $235,000 | $235,000 |
During 2018, K. Hovnanian American Mortgage's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 4-5%, with 543 originations.
Loan Sizing
2018 saw K. Hovnanian American Mortgage place emphasis on $200k-400k loans with 441 originations, totaling $131,315,000 in origination value.
Applicant Income
K. Hovnanian American Mortgage lent most frequently to those with incomes in the $100k-150k range, with 238 originations. The second most popular income band? $150k-250k, with 155 originations.
Applicant Debt to Income Ratio
K. Hovnanian American Mortgage lent most frequently to those with DTI ratios of 30-36%, with 125 originations. The next most common DTI ratio? 20-30%, with 113 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.45%
K. Hovnanian American Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination56.70%
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 | 709 | $242,075,000 | $341,432 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 709 | $242,075,000 | $341,432 |