Compass Home Loans Mortgage Rates, Fees & InfoDOVER, DE
Tax ID: 46-4770767
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCompass Home Loans is a smaller mortgage company specializing in loans. Compass Home Loans has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Urban Honolulu, Hilo, and Kahului among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)
Compass Home Loans 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. Compass Home Loans 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.67%||3/27/23|
|30 Year Conventional Refi||6.52%||3/27/23|
|30 Year Cash-out Refi||6.45%||3/27/23|
|30 Year VA Purchase||5.78%||3/27/23|
|30 Year USDA Purchase||6.58%||3/27/23|
|15 Year Conventional Purchase||6.18%||3/27/23|
|15 Year Conventional Refi||5.89%||3/27/23|
|15 Year Cash-out Refi||5.89%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$105,355,000
Compass Home Loans's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.51%.
Relative Fees (Closing Costs)
Compass Home Loans's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,838.
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.
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|
|URBAN HONOLULU, HI (FHA|USDA|VA)||167||$103,755,000||$621,287||$15,594||4.20%|
|Hilo, HI (FHA|USDA|VA)||3||$1,115,000||$371,667||$10,083||4.83%|
|KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA)||1||$485,000||$485,000||$14,031||4.99%|
We use machine learning to identify the top lenders compared against COMPASS HOME LOANS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 112
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Similarity Rank: 332
Similarity Rank: 404
Similarity Rank: 420
Similarity Rank: 424
Similarity Rank: 504
Similarity Rank: 528
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Compass Home Loans's most frequently originated type of loan was Conventional, with 102 originations. Their 2nd most popular type was VA, with 68 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||9||$4,475,000||$497,222||$11,155||3.66%|
For 2022, Compass Home Loans's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Refi, with 10 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Compass Home Loans's most frequently cited loan duration was 30 Year, with 166 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Compass Home Loans's average total fees were $15,838, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 93 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Compass Home Loans's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 3-4%, with 52 originations.
2022 saw Compass Home Loans place emphasis on $600k-1MM loans with 63 originations, totaling $50,245,000 in origination value.
Compass Home Loans lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $150k-250k, with 38 originations.
Applicant Debt to Income Ratio
Compass Home Loans lent most frequently to those with DTI ratios of 50-60%, with 22 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Approval RatesTotal approvals of all applications
Compass Home Loans has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Compass Home Loans 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|