Compass Home Loans Mortgage Rates, Fees & Info

DOVER, DE

LEI: 5493006FYXPLR221TS92

Tax ID: 46-4770767

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Home Purchase 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 by origination volume include: Urban Honolulu, Hilo, Kahului, and Kapaa among others. We have data for 4 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 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.

    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% 11/17/24
    30 Year Conventional Refi 6.52% 11/17/24
    30 Year Cash-out Refi 6.45% 11/17/24
    30 Year VA Purchase 5.78% 11/17/24
    30 Year USDA Purchase 6.58% 11/17/24
    15 Year Conventional Purchase 6.18% 11/17/24
    15 Year Conventional Refi 5.89% 11/17/24
    15 Year Cash-out Refi 5.89% 11/17/24
    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.

    Compass Home Loans Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Compass Home Loans. 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

    507

    Origination Dollar Volume (All Markets)

    $232,365,000

    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) 498 $228,910,000 $459,659 $7,605 4.71%
    Hilo, HI (FHA|USDA|VA) 6 $2,070,000 $345,000 $6,859 4.48%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 2 $1,050,000 $525,000 $13,447 4.44%
    Kapaa, HI (FHA|USDA|VA) 1 $335,000 $335,000 $8,428 4.50%
    Compass Home Loans's top markets include Urban Honolulu, Hilo, Kahului, and Kapaa 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: 37
    Hawaii Central FCU
    Similarity Rank: 51
    University of Hawaii Federal Credit Union
    Similarity Rank: 123
    HAWAIIAN FINANCIAL
    Similarity Rank: 162
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 196
    Central Pacific Bank
    Similarity Rank: 215
    Territorial Savings Bank
    Similarity Rank: 228
    American Savings Bank, FSB
    Similarity Rank: 232
    First Hawaiian Bank
    Similarity Rank: 280
    COMPASS HOME LOANS, LLC
    Similarity Rank: 300

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 369 $158,825,000 $430,420 $7,262 4.80%
    VA 106 $58,080,000 $547,925 $0 4.44%
    USDA 18 $7,320,000 $406,667 $0 4.69%
    FHA 14 $8,140,000 $581,429 $16,162 4.47%

    For 2018, Compass Home Loans's most frequently originated type of loan was Conventional, with 369 originations. Their 2nd most popular type was VA, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 457 $209,455,000 $458,326 $7,724 4.72%
    Cash Out Refi 37 $17,275,000 $466,892 $6,625 4.60%
    Refi 9 $3,585,000 $398,333 $6,883 4.49%
    Home Improvement 4 $2,050,000 $512,500 $8,307 4.87%

    For 2018, Compass Home Loans's most frequently cited loan purpose was Home Purchase, with 457 originations. The 2nd most popular reason was Cash Out Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 499 $229,665,000 $460,251 $7,654 4.72%
    15 Year 6 $1,710,000 $285,000 $5,571 4.25%
    20 Year 1 $355,000 $355,000 $8,218 4.75%
    Other 1 $635,000 $635,000 $6,012 4.88%

    For 2018, Compass Home Loans's most frequently cited loan duration was 30 Year, with 499 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 213 $102,065,000 $479,178
    $5k+ 96 $49,320,000 $513,750
    $1k-2k 47 $18,775,000 $399,468
    $2k-3k 39 $16,195,000 $415,256
    $3k-4k 37 $14,755,000 $398,784
    $4k-5k 37 $14,935,000 $403,649

    Compass Home Loans's average total fees were $7,654, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 213 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 376 $171,150,000 $455,186
    5-6% 82 $35,150,000 $428,659
    3-4% 43 $23,855,000 $554,767
    6-7% 6 $2,210,000 $368,333

    During 2018, Compass Home Loans's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 376 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 194 $60,890,000 $313,866 $6,804 4.80%
    $400k-600k 159 $77,375,000 $486,635 $8,226 4.71%
    $600k-1MM 120 $82,920,000 $691,000 $9,032 4.59%
    $100k-200k 27 $4,285,000 $158,704 $5,293 4.68%
    $1MM+ 6 $6,800,000 $1,133,333 $0 4.44%
    $100,000 or less 1 $95,000 $95,000 $3,918 4.88%

    2018 saw Compass Home Loans place emphasis on $200k-400k loans with 194 originations, totaling $60,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 166 $88,330,000 $532,108 $8,326 4.69%
    $75k-100k 108 $42,780,000 $396,111 $7,601 4.69%
    $50k-75k 93 $30,045,000 $323,065 $6,857 4.72%
    $150k-250k 82 $44,950,000 $548,171 $7,933 4.69%
    $250k+ 35 $21,485,000 $613,857 $7,741 4.86%
    $50k or less 23 $4,775,000 $207,609 $5,344 4.75%

    Compass Home Loans lent most frequently to those with incomes in the $100k-150k range, with 166 originations. The second most popular income band? $75k-100k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 65 $26,985,000 $415,154 $7,306 4.69%
    50-60% 62 $34,670,000 $559,194 $12,218 4.52%
    20-30% 46 $19,320,000 $420,000 $7,368 4.65%
    49% 33 $14,765,000 $447,424 $7,257 4.84%
    42% 33 $13,815,000 $418,636 $5,748 4.66%
    48% 33 $14,985,000 $454,091 $8,306 4.82%
    45% 31 $13,415,000 $432,742 $7,417 4.84%
    43% 30 $13,180,000 $439,333 $6,198 4.72%
    47% 28 $13,610,000 $486,071 $8,650 4.72%
    46% 25 $11,565,000 $462,600 $6,346 4.70%
    44% 25 $11,165,000 $446,600 $8,710 4.91%
    41% 22 $10,070,000 $457,727 $7,995 4.95%
    40% 18 $7,730,000 $429,444 $5,478 4.55%
    39% 15 $7,295,000 $486,333 $7,002 4.71%
    37% 11 $5,065,000 $460,455 $6,896 4.69%
    38% 11 $5,175,000 $470,455 $8,614 4.73%
    36% 9 $3,595,000 $399,444 $9,665 4.56%
    >60% 8 $4,960,000 $620,000 $0 4.47%
    <20% 2 $1,000,000 $500,000 $12,712 5.01%

    Compass Home Loans lent most frequently to those with DTI ratios of 30-36%, with 65 originations. The next most common DTI ratio? 50-60%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 293 $129,435,000 $441,758 $7,702 4.78%
    White 115 $57,425,000 $499,348 $7,430 4.58%
    Not provided 62 $26,870,000 $433,387 $7,295 4.64%
    Native Hawaiian or Islander 27 $12,665,000 $469,074 $7,016 4.71%
    Black 9 $5,555,000 $617,222 $11,993 4.50%
    American Indian 1 $415,000 $415,000 $0 4.88%

    Approval Rates

    Total approvals of all applications
    93.38%

    Compass Home Loans has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.66%

    Compass Home Loans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 507 $232,365,000 $458,314

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 507 $232,365,000 $458,314

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $9,315,000 $300,484 $6,312 4.64%
    40-60% 59 $20,135,000 $341,271 $7,927 4.71%
    60-80% 179 $86,395,000 $482,654 $7,452 4.75%
    80-100% 206 $100,220,000 $486,505 $7,992 4.72%
    Over 100% 30 $16,020,000 $534,000 $0 4.46%
    Under 20% 2 $280,000 $140,000 $7,474 5.01%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    COMPASS MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 100.0%