Compass Home Loans Mortgage Rates, Fees & Info

DOVER, DE

LEI: 5493006FYXPLR221TS92

Tax ID: 46-4770767

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Mortgage Data

Review & 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 by origination volume include: Urban Honolulu, Hilo, Kahului, San Francisco, and Santa Rosa among others. We have data for 7 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% 3/24/24
30 Year Conventional Refi 6.52% 3/24/24
30 Year Cash-out Refi 6.45% 3/24/24
30 Year VA Purchase 5.78% 3/24/24
30 Year USDA Purchase 6.58% 3/24/24
15 Year Conventional Purchase 6.18% 3/24/24
15 Year Conventional Refi 5.89% 3/24/24
15 Year Cash-out Refi 5.89% 3/24/24
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

560

Origination Dollar Volume (All Markets)

$278,330,000

Awards

COMPASS HOME LOANS USDA Loans silver
Show all (1) 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
URBAN HONOLULU, HI (FHA|USDA|VA) 547 $272,405,000 $497,998 $8,846 4.06%
Hilo, HI (FHA|USDA|VA) 6 $2,730,000 $455,000 $9,716 3.77%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 3 $1,465,000 $488,333 $8,346 4.46%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $675,000 $675,000 $6,741 4.38%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $555,000 $555,000 $24,452 4.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $275,000 $275,000 $4,202 4.50%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $225,000 $225,000 $5,150 3.99%
Compass Home Loans's top markets include Urban Honolulu, Hilo, Kahului, San Francisco, and Santa Rosa among others.

Their top states include:
  • Hawaii (FHA|USDA|VA)
  • California (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: 225
    HAWAIIAN FINANCIAL
    Similarity Rank: 228
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 240
    Territorial Savings Bank
    Similarity Rank: 244
    First Hawaiian Bank
    Similarity Rank: 330
    Central Pacific Bank
    Similarity Rank: 340
    Bank of Hawaii
    Similarity Rank: 380
    American Savings Bank, FSB
    Similarity Rank: 485
    First Republic Bank
    Similarity Rank: 1001

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 371 $169,815,000 $457,722 $7,480 4.21%
    VA 154 $90,900,000 $590,260 $11,135 3.72%
    USDA 19 $8,205,000 $431,842 $10,070 3.74%
    FHA 16 $9,410,000 $588,125 $15,879 4.28%

    For 2019, Compass Home Loans's most frequently originated type of loan was Conventional, with 371 originations. Their 2nd most popular type was VA, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 380 $186,540,000 $490,895 $9,791 4.18%
    Refi 144 $74,110,000 $514,653 $6,024 3.75%
    Cash Out Refi 33 $16,575,000 $502,273 $11,043 4.02%
    Home Improvement 3 $1,105,000 $368,333 $6,264 3.92%

    For 2019, Compass Home Loans's most frequently cited loan purpose was Home Purchase, with 380 originations. The 2nd most popular reason was Refi, with 144 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 553 $276,315,000 $499,665 $8,890 4.06%
    15 Year 5 $1,125,000 $225,000 $5,163 3.78%
    Other 2 $890,000 $445,000 $10,917 3.69%

    For 2019, Compass Home Loans's most frequently cited loan duration was 30 Year, with 553 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
    $<1k 240 $121,860,000 $507,750
    $5k+ 110 $65,470,000 $595,182
    $2k-3k 55 $21,715,000 $394,818
    $3k-4k 51 $23,405,000 $458,922
    $1k-2k 46 $18,720,000 $406,957
    $4k-5k 30 $14,480,000 $482,667

    Compass Home Loans's average total fees were $8,890, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 240 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 319 $164,505,000 $515,690
    4-5% 203 $94,215,000 $464,113
    5-6% 19 $7,045,000 $370,789
    2.5-3% 17 $11,275,000 $663,235
    6-7% 2 $1,290,000 $645,000

    During 2019, Compass Home Loans's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 319 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 186 $90,290,000 $485,430 $8,532 4.03%
    $600k-1MM 171 $120,655,000 $705,585 $11,766 3.95%
    $200k-400k 165 $50,745,000 $307,545 $6,187 4.19%
    $100k-200k 28 $4,490,000 $160,357 $4,650 4.27%
    $1MM+ 10 $12,150,000 $1,215,000 $20,162 3.79%

    2019 saw Compass Home Loans place emphasis on $400k-600k loans with 186 originations, totaling $90,290,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 169 $90,295,000 $534,290 $9,698 4.10%
    $75k-100k 118 $51,520,000 $436,610 $9,280 4.03%
    $150k-250k 86 $51,820,000 $602,558 $10,509 4.20%
    $50k-75k 83 $26,955,000 $324,759 $6,829 4.15%
    $50k or less 22 $5,450,000 $247,727 $5,589 4.26%
    $250k+ 21 $15,845,000 $754,524 $11,968 4.22%

    Compass Home Loans lent most frequently to those with incomes in the $100k-150k range, with 169 originations. The second most popular income band? $75k-100k, with 118 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 69 $34,605,000 $501,522 $8,797 4.07%
    50-60% 48 $27,030,000 $563,125 $14,294 3.92%
    20-30% 44 $19,790,000 $449,773 $8,024 4.08%
    49% 38 $17,350,000 $456,579 $9,778 4.19%
    44% 35 $16,175,000 $462,143 $8,694 4.30%
    43% 34 $15,260,000 $448,824 $7,066 4.28%
    45% 25 $11,895,000 $475,800 $9,293 4.19%
    42% 23 $11,215,000 $487,609 $6,533 4.23%
    47% 23 $12,555,000 $545,870 $10,064 4.30%
    46% 22 $9,940,000 $451,818 $7,693 4.20%
    48% 21 $9,995,000 $475,952 $10,080 4.03%
    37% 20 $10,410,000 $520,500 $11,057 3.95%
    41% 19 $8,205,000 $431,842 $9,346 4.18%
    38% 18 $9,250,000 $513,889 $8,569 4.17%
    40% 14 $5,180,000 $370,000 $7,126 4.10%
    39% 14 $6,990,000 $499,286 $6,108 4.13%
    36% 14 $6,450,000 $460,714 $6,674 4.15%
    >60% 11 $6,995,000 $635,909 $12,934 3.82%
    <20% 7 $2,595,000 $370,714 $6,944 3.94%

    Compass Home Loans lent most frequently to those with DTI ratios of 30-36%, with 69 originations. The next most common DTI ratio? 50-60%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 309 $148,775,000 $481,472 $8,068 4.15%
    White 133 $71,085,000 $534,474 $10,243 3.84%
    Not provided 72 $34,690,000 $481,806 $9,238 4.09%
    Native Hawaiian or Islander 37 $18,855,000 $509,595 $9,668 3.94%
    Black 7 $3,495,000 $499,286 $8,654 4.30%
    American Indian 1 $715,000 $715,000 $9,305 4.88%
    Chinese 1 $715,000 $715,000 $7,337 3.99%

    Approval Rates

    Total approvals of all applications
    94.49%

    Compass Home Loans has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.89%

    Compass Home Loans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 560 $278,330,000 $497,018

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 560 $278,330,000 $497,018

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $4,000,000 $250,000 $7,041 4.11%
    40-60% 67 $28,645,000 $427,537 $6,759 4.08%
    60-80% 177 $87,885,000 $496,525 $8,571 4.12%
    80-100% 270 $141,870,000 $525,444 $8,691 4.03%
    Over 100% 29 $15,815,000 $545,345 $17,357 3.87%
    Under 20% 1 $115,000 $115,000 $1,684 4.00%