Compass Home Loans Mortgage Rates, Fees & Info
DOVER, DELEI: 5493006FYXPLR221TS92
Tax ID: 46-4770767
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Compass Home Loans is a smaller mortgage company specializing in Home Purchase and Refi loans. Compass Home Loans has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Urban Honolulu, Hilo, Kahului, and Kapaa among others. Compass Home Loans has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Compass Home Loans is typically a high fee lendor.Originations
549Origination Dollar Volume (All Markets)
$303,565,000Awards
COMPASS HOME LOANS - 2021
COMPASS HOME LOANS is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Compass Home Loans 's average 30 year fixed rate mortgage of loans were
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.19%.
Relative Fees
Compass Home Loans 's average total fees for a 30 year fixed rate
mortgage are $10,024.
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 |
|---|---|---|---|---|---|
| URBAN HONOLULU, HI (FHA|USDA|VA) | 534 | $296,190,000 | $554,663 | $9,808 | 2.93% |
| Hilo, HI (FHA|USDA|VA) | 9 | $4,285,000 | $476,111 | $9,863 | 2.90% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 4 | $1,690,000 | $422,500 | $5,627 | 3.09% |
| Kapaa, HI (FHA|USDA|VA) | 2 | $1,400,000 | $700,000 | $12,393 | 3.37% |
Compass Home Loans 's top markets include Urban Honolulu, Hilo, Kahului, and Kapaa among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 422 | $202,910,000 | $480,829 | $7,281 | 3.07% |
| VA | 116 | $95,780,000 | $825,690 | $18,084 | 2.47% |
| USDA | 8 | $3,100,000 | $387,500 | $9,989 | 2.83% |
| FHA | 3 | $1,775,000 | $591,667 | $18,507 | 2.75% |
For the 2021 period, Compass Home Loans 's most frequently originated loan type of loans were Conventional, with 422 originations. Their 2nd most popular type is VA, with 116 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 311 | $180,725,000 | $581,109 | $12,116 | 3.01% |
| Refi | 167 | $84,005,000 | $503,024 | $6,038 | 2.75% |
| Cash Out Refi | 71 | $38,835,000 | $546,972 | $8,435 | 3.06% |
For the 2021, Compass Home Loans 's most frequently cited loan purpose of loans were Home Purchase, with 311 originations. The 2nd most popular reason of loans were Refi, with 167 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 520 | $292,260,000 | $562,038 | $10,024 | 2.96% |
| 15 Year | 16 | $6,220,000 | $388,750 | $5,423 | 2.38% |
| 20 Year | 9 | $3,475,000 | $386,111 | $7,661 | 2.79% |
| 10 Year | 2 | $240,000 | $120,000 | $2,644 | 2.50% |
| Other | 2 | $1,370,000 | $685,000 | $2,375 | 2.94% |
For the 2021, Compass Home Loans 's most frequently cited loan length of loans were 30 Year, with 520 originations. The 2nd most popular length of loans were 15 Year, with 16 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 199 | $121,025,000 | $608,166 |
| $5k+ | 136 | $87,670,000 | $644,632 |
| $3k-4k | 88 | $47,560,000 | $540,455 |
| $2k-3k | 47 | $19,205,000 | $408,617 |
| $1k-2k | 42 | $13,380,000 | $318,571 |
$10,024 of loans were Compass Home Loans 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 199 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 256 | $141,130,000 | $551,289 |
| 3-4% | 187 | $87,665,000 | $468,797 |
| <2.5% | 104 | $74,130,000 | $712,788 |
| 4-5% | 2 | $640,000 | $320,000 |
During 2021, Compass Home Loans 's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 2.5-3%, with 256 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $600k-1MM | 185 | $139,065,000 | $751,703 | $11,798 | 2.90% |
| $200k-400k | 163 | $49,535,000 | $303,896 | $5,759 | 3.00% |
| $400k-600k | 139 | $68,605,000 | $493,561 | $8,640 | 2.96% |
| $1MM+ | 31 | $41,695,000 | $1,345,000 | $27,110 | 2.49% |
| $100k-200k | 29 | $4,485,000 | $154,655 | $3,972 | 3.18% |
| $100,000 or less | 2 | $180,000 | $90,000 | $6,646 | 3.00% |
2021 saw Compass Home Loans place emphasis on $600k-1MM loans with 185 originations, totaling $139,065,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 160 | $95,350,000 | $595,938 | $10,223 | 2.99% |
| $150k-250k | 112 | $78,700,000 | $702,679 | $13,282 | 3.02% |
| $75k-100k | 101 | $44,905,000 | $444,604 | $8,622 | 2.93% |
| $50k-75k | 80 | $25,510,000 | $318,875 | $6,470 | 3.02% |
| $250k+ | 34 | $27,800,000 | $817,647 | $13,590 | 2.93% |
| $50k or less | 22 | $4,660,000 | $211,818 | $5,424 | 3.00% |
Compass Home Loans lent most frequently to those with incomes in the $100k-150k range, with 160 originations. The second most popular income band? $150k-250k, with 112 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 87 | $44,115,000 | $507,069 | $7,793 | 3.02% |
| 20-30% | 74 | $32,820,000 | $443,514 | $7,062 | 3.01% |
| 40% | 33 | $15,425,000 | $467,424 | $7,646 | 2.95% |
| 50-60% | 31 | $25,725,000 | $829,839 | $17,940 | 2.69% |
| 41% | 30 | $17,870,000 | $595,667 | $10,072 | 3.09% |
| 49% | 27 | $14,045,000 | $520,185 | $9,055 | 2.98% |
| 43% | 27 | $13,935,000 | $516,111 | $10,234 | 2.95% |
| 48% | 24 | $13,710,000 | $571,250 | $10,946 | 2.99% |
| 44% | 22 | $11,110,000 | $505,000 | $9,535 | 3.22% |
| 46% | 21 | $10,695,000 | $509,286 | $11,357 | 3.07% |
| 47% | 20 | $10,700,000 | $535,000 | $7,448 | 3.03% |
| 45% | 18 | $11,640,000 | $646,667 | $8,471 | 3.12% |
| 39% | 17 | $7,905,000 | $465,000 | $9,330 | 3.06% |
| 38% | 15 | $9,285,000 | $619,000 | $9,973 | 2.96% |
| <20% | 14 | $5,830,000 | $416,429 | $7,553 | 2.87% |
| 37% | 14 | $6,530,000 | $466,429 | $6,907 | 3.09% |
| 42% | 13 | $6,675,000 | $513,462 | $11,835 | 2.90% |
| 36% | 12 | $6,920,000 | $576,667 | $8,319 | 2.93% |
| >60% | 10 | $11,990,000 | $1,199,000 | $41,541 | 2.44% |
Compass Home Loans lent most frequently to those with DTI ratios of 30-36%, with 87 originations. The next most common DTI ratio? 20-30%, with 74 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Asian | 281 | $144,065,000 | $512,687 | $8,652 | 2.99% |
| White | 179 | $109,565,000 | $612,095 | $11,578 | 2.88% |
| Not provided | 54 | $30,810,000 | $570,556 | $10,842 | 2.87% |
| Native Hawaiian | 20 | $9,780,000 | $489,000 | $6,890 | 2.92% |
| Black | 8 | $5,720,000 | $715,000 | $14,752 | 2.81% |
| American Indian | 2 | $1,040,000 | $520,000 | $7,362 | 2.75% |
| Korean | 1 | $825,000 | $825,000 | $15,618 | 3.25% |
| Chinese | 2 | $750,000 | $375,000 | $5,022 | 3.56% |
| Vietnamese | 1 | $675,000 | $675,000 | $3,592 | 3.00% |
| Filipino | 1 | $335,000 | $335,000 | $4,542 | 3.38% |
Approval Rates
Total approvals of all applications93.89%
Compass Home Loans has an average approval rate.
Pick Rate
Approvals leading to origination79.83%
Compass Home Loans has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 549 | $303,565,000 | $552,942 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 549 | $303,565,000 | $552,942 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 45 | $15,085,000 | $335,222 | $5,850 | 2.89% |
| 40-60% | 79 | $38,295,000 | $484,747 | $7,551 | 2.92% |
| 60-80% | 173 | $93,955,000 | $543,092 | $7,854 | 3.05% |
| 80-100% | 212 | $126,090,000 | $594,764 | $9,419 | 2.93% |
| Over 100% | 37 | $29,775,000 | $804,730 | $28,904 | 2.59% |
| Under 20% | 3 | $365,000 | $121,667 | $2,950 | 2.63% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMPASS MORTGAGE, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
