Compass Home Loans Mortgage Rates, Fees & Info

DOVER, DE

LEI: 5493006FYXPLR221TS92

Tax ID: 46-4770767

1 stars - out of 5 stars, based on 13 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Compass 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		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.


    Originations

    171

    Origination Dollar Volume (All Markets)

    $105,355,000

    Awards

    COMPASS HOME LOANS VA Loans gold
    Show all (1) awards

    Relative Rate

    Compass Home Loans's average 30 year fixed mortgage rate was 4.25%.

    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.

    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
    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%
    Compass Home Loans's top markets include Urban Honolulu, Hilo, and Kahului among others.

    Their top states include:
  • Hawaii (FHA|USDA|VA)

    • Similar Lenders

    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.

    ALOHA PACIFIC
    Similarity Rank: 112
    University of Hawaii Federal Credit Union
    Similarity Rank: 136
    HONOLULU
    Similarity Rank: 159
    HAWAIIAN FINANCIAL
    Similarity Rank: 212
    Territorial Savings Bank
    Similarity Rank: 332
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 404
    First Hawaiian Bank
    Similarity Rank: 420
    HAWAIIUSA FEDERAL CREDIT UNION
    Similarity Rank: 424
    American Savings Bank, FSB
    Similarity Rank: 504
    COMPASS HOME LOANS, LLC
    Similarity Rank: 528

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 102 $52,570,000 $515,392 $10,681 4.53%
    VA 68 $52,370,000 $770,147 $22,437 3.76%
    USDA 1 $415,000 $415,000 $8,851 3.00%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $96,130,000 $632,434 $16,293 4.29%
    Refi 10 $4,750,000 $475,000 $6,529 3.55%
    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 Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 166 $104,080,000 $626,988 $15,838 4.25%
    15 Year 5 $1,275,000 $255,000 $4,143 3.13%

    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
    $5k+ 93 $65,535,000 $704,677
    $<1k 34 $22,700,000 $667,647
    $2k-3k 13 $4,795,000 $368,846
    $3k-4k 12 $5,280,000 $440,000
    $4k-5k 8 $2,930,000 $366,250
    $1k-2k 6 $1,980,000 $330,000

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 52 $32,310,000 $621,346
    4-5% 50 $34,170,000 $683,400
    5-6% 32 $14,880,000 $465,000
    2.5-3% 22 $13,610,000 $618,636
    <2.5% 7 $6,305,000 $900,714
    6-7% 7 $3,705,000 $529,286
    7-8% 1 $375,000 $375,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 63 $50,245,000 $797,540 $18,206 4.04%
    $400k-600k 48 $23,370,000 $486,875 $12,248 4.49%
    $200k-400k 41 $12,355,000 $301,341 $8,144 4.34%
    $1MM+ 14 $18,640,000 $1,331,429 $37,873 3.54%
    $100k-200k 4 $650,000 $162,500 $5,889 5.06%
    $100,000 or less 1 $95,000 $95,000 $4,771 2.99%

    2022 saw Compass Home Loans place emphasis on $600k-1MM loans with 63 originations, totaling $50,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 62 $36,860,000 $594,516 $14,780 4.30%
    $150k-250k 38 $32,600,000 $857,895 $22,419 4.09%
    $75k-100k 35 $16,155,000 $461,571 $13,095 4.25%
    $50k-75k 18 $6,510,000 $361,667 $10,331 4.11%
    $250k+ 14 $12,310,000 $879,286 $15,090 4.23%
    $50k or less 4 $920,000 $230,000 $7,077 4.19%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 22 $16,410,000 $745,909 $21,276 4.12%
    30-36% 18 $10,230,000 $568,333 $10,936 3.53%
    20-30% 14 $9,140,000 $652,857 $14,297 3.92%
    49% 13 $8,035,000 $618,077 $12,851 4.49%
    >60% 12 $10,200,000 $850,000 $26,008 4.07%
    42% 11 $5,345,000 $485,909 $13,135 4.57%
    44% 8 $4,760,000 $595,000 $13,593 3.86%
    37% 8 $5,150,000 $643,750 $16,674 3.86%
    36% 7 $3,345,000 $477,857 $12,929 4.44%
    45% 7 $2,405,000 $343,571 $11,386 4.73%
    46% 7 $2,315,000 $330,714 $7,956 4.29%
    47% 7 $3,055,000 $436,429 $9,379 4.96%
    48% 7 $4,645,000 $663,571 $13,620 4.13%
    43% 6 $3,950,000 $658,333 $18,531 4.33%
    41% 6 $3,800,000 $633,333 $18,472 4.65%
    39% 6 $6,250,000 $1,041,667 $21,577 4.13%
    38% 5 $2,985,000 $597,000 $14,069 4.25%
    40% 4 $1,810,000 $452,500 $13,643 5.11%
    <20% 3 $1,525,000 $508,333 $12,444 4.72%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 85 $46,135,000 $542,765 $13,281 4.40%
    White 51 $35,825,000 $702,451 $17,688 3.84%
    Not provided 21 $15,555,000 $740,714 $18,484 4.52%
    Native Hawaiian or Islander 9 $3,875,000 $430,556 $10,040 4.21%
    Black 4 $3,630,000 $907,500 $30,800 3.34%
    American Indian 1 $335,000 $335,000 $5,468 4.63%

    Approval Rates

    Total approvals of all applications
    98.33%

    Compass Home Loans has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    63.74%

    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
    NA 171 $105,355,000 $616,111

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    171 $105,355,000 $616,111

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $890,000 $222,500 $5,899 4.49%
    40-60% 17 $7,705,000 $453,235 $9,559 4.26%
    60-80% 56 $33,140,000 $591,786 $13,093 4.32%
    80-100% 72 $46,360,000 $643,889 $14,334 4.32%
    Over 100% 19 $16,495,000 $868,158 $34,861 3.51%
    Under 20% 3 $765,000 $255,000 $6,254 3.54%