Compass Home Loans Mortgage Rates, Fees & Info
DOVER, DELEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.67% | 11/21/24 |
| 30 Year Conventional Refi | 6.52% | 11/21/24 |
| 30 Year Cash-out Refi | 6.45% | 11/21/24 |
| 30 Year VA Purchase | 5.78% | 11/21/24 |
| 30 Year USDA Purchase | 6.58% | 11/21/24 |
| 15 Year Conventional Purchase | 6.18% | 11/21/24 |
| 15 Year Conventional Refi | 5.89% | 11/21/24 |
| 15 Year Cash-out Refi | 5.89% | 11/21/24 |
| 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
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This is not an official calculator from Compass Home Loans. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
560Origination Dollar Volume (All Markets)
$278,330,000Awards
COMPASS HOME LOANS - 2019
COMPASS HOME LOANS is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 150
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Similarity Rank: 340
Similarity Rank: 380
Similarity Rank: 485
Similarity Rank: 1001
Product Mix
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
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
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
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
2019 saw Compass Home Loans place emphasis on $400k-600k loans with 186 originations, totaling $90,290,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications94.49%
Compass Home Loans has an average approval rate.
Pick Rate
Approvals leading to origination75.89%
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 |