K. Hovnanian American Mortgage Rates, Fees & Info

Matawan, NJ

LEI: 5493004N9PMBSLEZOF16

Tax ID: 16-1639437

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 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, Phoenix, Washington, Dallas, and New York among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

    K. Hovnanian American Mortgage has an 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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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






    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

    3,491

    Origination Dollar Volume (All Markets)

    $1,133,325,000
    Show all (9) awards

    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) 710 $185,240,000 $260,901 $5,120 4.13%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 426 $133,860,000 $314,225 $6,075 4.23%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 232 $126,440,000 $545,000 $6,869 4.14%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 305 $97,005,000 $318,049 $5,688 4.02%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 218 $92,340,000 $423,578 $5,769 4.13%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 179 $66,765,000 $372,989 $5,961 4.24%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 143 $53,065,000 $371,084 $6,905 4.11%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 179 $51,255,000 $286,341 $6,158 4.28%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 139 $43,025,000 $309,532 $6,550 4.19%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 90 $37,760,000 $419,556 $6,986 4.13%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 137 $37,395,000 $272,956 $5,693 4.02%
    SALISBURY, MD-DE (FHA|USDA|VA) 113 $33,005,000 $292,080 $5,105 4.18%
    YUBA CITY, CA (FHA|USDA|VA) 87 $27,245,000 $313,161 $7,054 4.24%
    MERCED, CA (FHA|USDA|VA) 90 $22,140,000 $246,000 $5,393 4.24%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 72 $17,200,000 $238,889 $5,384 4.07%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 60 $15,210,000 $253,500 $3,867 4.17%
    STOCKTON, CA (FHA|USDA|VA) 30 $13,470,000 $449,000 $6,442 4.37%
    BAKERSFIELD, CA (FHA|USDA|VA) 50 $12,260,000 $245,200 $7,005 4.19%
    DOVER, DE (FHA|USDA|VA) 41 $12,095,000 $295,000 $5,999 4.27%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 33 $10,575,000 $320,455 $5,597 4.14%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 31 $9,175,000 $295,968 $6,958 4.26%
    FRESNO, CA (FHA|USDA|VA) 24 $6,570,000 $273,750 $7,017 4.21%
    AKRON, OH (FHA|USDA|VA) 24 $6,390,000 $266,250 $5,140 4.12%
    SAVANNAH, GA (FHA|USDA|VA) 23 $6,095,000 $265,000 $5,472 4.03%
    MADERA, CA (FHA|USDA|VA) 15 $4,525,000 $301,667 $8,609 3.93%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 17 $4,375,000 $257,353 $6,003 3.97%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $3,840,000 $480,000 $5,866 4.23%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 6 $3,210,000 $535,000 $10,740 4.10%
    RICHMOND, VA (FHA|USDA|VA) 4 $700,000 $175,000 $3,566 4.84%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $580,000 $290,000 $11,410 3.63%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $265,000 $265,000 $4,099 4.63%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $195,000 $195,000 $3,716 4.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $55,000 $55,000 $3,033 3.88%
    K. Hovnanian American Mortgage's top markets include Houston, Phoenix, Washington, Dallas, and New York among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (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.

    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    Calvin B. Taylor Banking Company of Berlin, Maryland
    Similarity Rank: 204
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 318
    McCoy Federal Credit Union
    Similarity Rank: 342
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 368
    Columbia Bank
    Similarity Rank: 440
    Hebron Savings Bank
    Similarity Rank: 460
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 546

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,424 $788,000,000 $325,083 $5,048 4.18%
    FHA 622 $185,710,000 $298,569 $9,469 4.18%
    VA 441 $158,455,000 $359,308 $5,487 3.98%
    USDA 4 $1,160,000 $290,000 $7,960 3.94%

    For 2019, K. Hovnanian American Mortgage's most frequently originated type of loan was Conventional, with 2,424 originations. Their 2nd most popular type was FHA, with 622 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,490 $1,133,130,000 $324,679 $5,895 4.15%
    Refi 1 $195,000 $195,000 $3,716 4.25%

    For 2019, K. Hovnanian American Mortgage's most frequently cited loan purpose was Home Purchase, with 3,490 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 3,256 $1,076,170,000 $330,519 $6,000 4.18%
    15 Year 173 $42,145,000 $243,613 $4,397 3.67%
    20 Year 40 $10,940,000 $273,500 $4,959 3.89%
    10 Year 18 $3,220,000 $178,889 $3,642 3.76%
    30+ year 2 $470,000 $235,000 $4,220 4.06%
    Other 2 $380,000 $190,000 $4,314 4.19%

    For 2019, K. Hovnanian American Mortgage's most frequently cited loan duration was 30 Year, with 3,256 originations. The 2nd most popular length was 15 Year, with 173 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,307 $396,315,000 $303,225
    $<1k 1,207 $403,565,000 $334,354
    $2k-3k 378 $117,700,000 $311,376
    $3k-4k 248 $78,990,000 $318,508
    $5k+ 208 $88,250,000 $424,279
    $4k-5k 143 $48,505,000 $339,196

    K. Hovnanian American Mortgage's average total fees were $6,000, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,307 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,733 $553,565,000 $319,426
    4-5% 1,623 $537,305,000 $331,057
    5-6% 122 $38,930,000 $319,098
    2.5-3% 10 $2,620,000 $262,000
    6-7% 2 $590,000 $295,000
    Over 8% 1 $315,000 $315,000

    During 2019, K. Hovnanian American Mortgage's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 1,733 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,350 $681,440,000 $289,974 $5,846 4.16%
    $400k-600k 642 $300,680,000 $468,349 $6,732 4.18%
    $100k-200k 308 $49,640,000 $161,169 $4,108 4.07%
    $600k-1MM 128 $86,970,000 $679,453 $7,824 4.20%
    $100,000 or less 54 $3,770,000 $69,815 $3,278 4.04%
    $1MM+ 9 $10,825,000 $1,202,778 $8,199 4.03%

    2019 saw K. Hovnanian American Mortgage place emphasis on $200k-400k loans with 2,350 originations, totaling $681,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,100 $364,950,000 $331,773 $5,979 4.16%
    $150k-250k 756 $295,340,000 $390,661 $6,038 4.19%
    $75k-100k 728 $207,160,000 $284,560 $5,968 4.15%
    $50k-75k 542 $131,180,000 $242,030 $5,697 4.11%
    $250k+ 258 $116,100,000 $450,000 $5,809 4.15%
    $50k or less 107 $18,595,000 $173,785 $4,723 4.09%

    K. Hovnanian American Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,100 originations. The second most popular income band? $150k-250k, with 756 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 580 $183,570,000 $316,500 $5,301 4.10%
    30-36% 557 $188,865,000 $339,075 $5,596 4.14%
    50-60% 367 $117,765,000 $320,886 $7,690 4.10%
    48% 161 $52,525,000 $326,242 $5,866 4.18%
    49% 156 $48,060,000 $308,077 $6,018 4.18%
    47% 153 $48,845,000 $319,248 $6,273 4.26%
    41% 152 $51,060,000 $335,921 $6,245 4.16%
    44% 145 $46,635,000 $321,621 $5,699 4.23%
    42% 144 $49,620,000 $344,583 $6,811 4.21%
    40% 141 $48,285,000 $342,447 $5,606 4.13%
    43% 141 $44,785,000 $317,624 $5,757 4.26%
    <20% 135 $36,485,000 $270,259 $4,831 4.01%
    46% 126 $38,750,000 $307,540 $5,892 4.16%
    45% 119 $37,995,000 $319,286 $5,740 4.15%
    38% 106 $36,650,000 $345,755 $5,510 4.12%
    39% 105 $35,805,000 $341,000 $5,652 4.17%
    37% 97 $31,965,000 $329,536 $5,590 4.25%
    36% 93 $30,415,000 $327,043 $5,057 4.27%
    >60% 13 $5,245,000 $403,462 $7,392 4.18%

    K. Hovnanian American Mortgage lent most frequently to those with DTI ratios of 20-30%, with 580 originations. The next most common DTI ratio? 30-36%, with 557 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,220 $688,000,000 $309,910 $5,878 4.16%
    Asian 547 $207,325,000 $379,022 $5,710 4.12%
    Black 385 $124,805,000 $324,169 $6,052 4.18%
    Not provided 282 $93,290,000 $330,816 $5,952 4.07%
    American Indian 33 $10,865,000 $329,242 $7,213 4.46%
    Native Hawaiian or Islander 14 $6,110,000 $436,429 $6,952 4.21%
    Filipino 3 $895,000 $298,333 $6,403 3.83%
    Asian Indian 2 $630,000 $315,000 $4,705 3.81%
    Vietnamese 2 $530,000 $265,000 $7,371 3.94%
    Chinese 1 $345,000 $345,000 $4,590 4.13%
    Japanese 1 $295,000 $295,000 $9,670 3.88%
    Korean 1 $235,000 $235,000 $4,288 3.50%

    Approval Rates

    Total approvals of all applications
    87.12%

    K. Hovnanian American Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.95%

    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 3,491 $1,133,325,000 $324,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 3,491 $1,133,325,000 $324,642

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 144 $20,540,000 $142,639 $3,767 4.05%
    40-60% 269 $63,845,000 $237,342 $4,469 4.01%
    60-80% 887 $300,575,000 $338,867 $5,156 4.16%
    80-100% 2,049 $704,035,000 $343,599 $6,288 4.19%
    Over 100% 115 $42,055,000 $365,696 $11,183 3.95%
    Under 20% 27 $2,275,000 $84,259 $3,393 3.96%