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
  • 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 Refi and 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, Kapaa, and Los Angeles among others. We have data for 5 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% 4/22/24
    30 Year Conventional Refi 6.52% 4/22/24
    30 Year Cash-out Refi 6.45% 4/22/24
    30 Year VA Purchase 5.78% 4/22/24
    30 Year USDA Purchase 6.58% 4/22/24
    15 Year Conventional Purchase 6.18% 4/22/24
    15 Year Conventional Refi 5.89% 4/22/24
    15 Year Cash-out Refi 5.89% 4/22/24
    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

    942

    Origination Dollar Volume (All Markets)

    $489,100,000

    Awards

    COMPASS HOME LOANS FHA Loans bronze
    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) 914 $476,620,000 $521,466 $8,758 3.06%
    Hilo, HI (FHA|USDA|VA) 15 $7,155,000 $477,000 $9,702 2.97%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 10 $4,280,000 $428,000 $6,344 3.14%
    Kapaa, HI (FHA|USDA|VA) 2 $770,000 $385,000 $7,477 2.88%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $275,000 $275,000 $4,350 3.88%
    Compass Home Loans's top markets include Urban Honolulu, Hilo, Kahului, Kapaa, and Los Angeles 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.

    HAWAIIAN FINANCIAL
    Similarity Rank: 92
    ALOHA PACIFIC
    Similarity Rank: 124
    University of Hawaii Federal Credit Union
    Similarity Rank: 204
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 316
    Territorial Savings Bank
    Similarity Rank: 368
    First Hawaiian Bank
    Similarity Rank: 412
    American Mortgage and Insurance Inc.
    Similarity Rank: 495
    American Savings Bank, FSB
    Similarity Rank: 500
    Central Pacific Bank
    Similarity Rank: 592
    Bank of Hawaii
    Similarity Rank: 748

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 630 $293,660,000 $466,127 $7,121 3.15%
    VA 264 $171,000,000 $647,727 $11,879 2.85%
    USDA 33 $15,645,000 $474,091 $9,512 3.00%
    FHA 15 $8,795,000 $586,333 $17,091 3.02%

    For 2020, Compass Home Loans's most frequently originated type of loan was Conventional, with 630 originations. Their 2nd most popular type was VA, with 264 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 459 $230,565,000 $502,320 $6,415 3.00%
    Home Purchase 397 $209,905,000 $528,728 $11,042 3.11%
    Cash Out Refi 83 $46,565,000 $561,024 $10,913 3.13%
    Home Improvement 3 $2,065,000 $688,333 $5,058 2.92%

    For 2020, Compass Home Loans's most frequently cited loan purpose was Refi, with 459 originations. The 2nd most popular reason was Home Purchase, with 397 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 890 $470,760,000 $528,944 $8,939 3.08%
    15 Year 40 $13,060,000 $326,500 $5,354 2.66%
    Other 8 $4,030,000 $503,750 $4,938 2.88%
    10 Year 2 $430,000 $215,000 $3,902 2.44%
    20 Year 2 $820,000 $410,000 $7,273 2.88%

    For 2020, Compass Home Loans's most frequently cited loan duration was 30 Year, with 890 originations. The 2nd most popular length was 15 Year, with 40 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 343 $196,325,000 $572,376
    $5k+ 215 $127,515,000 $593,093
    $2k-3k 116 $48,750,000 $420,259
    $3k-4k 88 $38,240,000 $434,545
    $4k-5k 84 $41,500,000 $494,048
    $1k-2k 60 $22,210,000 $370,167

    Compass Home Loans's average total fees were $8,939, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 343 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 475 $258,795,000 $544,832
    3-4% 375 $182,095,000 $485,587
    <2.5% 76 $41,080,000 $540,526
    4-5% 15 $6,525,000 $435,000
    5-6% 1 $605,000 $605,000

    During 2020, Compass Home Loans's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 475 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 336 $167,640,000 $498,929 $8,617 3.10%
    $600k-1MM 291 $206,005,000 $707,921 $10,418 3.00%
    $200k-400k 249 $79,755,000 $320,301 $5,971 3.09%
    $100k-200k 43 $7,225,000 $168,023 $4,202 3.08%
    $1MM+ 23 $28,475,000 $1,238,043 $25,298 2.73%

    2020 saw Compass Home Loans place emphasis on $400k-600k loans with 336 originations, totaling $167,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 267 $140,065,000 $524,588 $8,979 3.12%
    $75k-100k 187 $83,265,000 $445,267 $8,996 3.10%
    $50k or less 171 $93,585,000 $547,281 $6,407 2.88%
    $150k-250k 169 $108,935,000 $644,586 $10,841 3.08%
    $50k-75k 105 $38,655,000 $368,143 $7,894 3.07%
    $250k+ 43 $24,595,000 $571,977 $9,551 3.06%

    Compass Home Loans lent most frequently to those with incomes in the $100k-150k range, with 267 originations. The second most popular income band? $75k-100k, with 187 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 141 $68,635,000 $486,773 $7,600 3.08%
    20-30% 124 $53,840,000 $434,194 $7,222 3.02%
    42% 45 $24,045,000 $534,333 $9,777 3.11%
    43% 43 $23,725,000 $551,744 $12,279 3.26%
    50-60% 43 $26,615,000 $618,953 $15,686 3.07%
    44% 41 $20,935,000 $510,610 $8,039 3.18%
    49% 37 $17,975,000 $485,811 $7,660 3.18%
    41% 36 $17,470,000 $485,278 $8,824 3.11%
    38% 35 $18,465,000 $527,571 $9,356 3.11%
    40% 32 $15,730,000 $491,563 $7,760 3.16%
    45% 29 $15,405,000 $531,207 $8,859 3.08%
    47% 28 $14,210,000 $507,500 $7,642 3.11%
    <20% 27 $11,855,000 $439,074 $8,285 2.86%
    48% 26 $13,320,000 $512,308 $11,072 3.19%
    46% 24 $14,260,000 $594,167 $10,019 3.02%
    39% 23 $10,445,000 $454,130 $9,986 3.06%
    37% 22 $10,300,000 $468,182 $9,807 3.13%
    36% 22 $11,930,000 $542,273 $7,581 3.16%
    >60% 14 $10,970,000 $783,571 $22,719 2.98%

    Compass Home Loans lent most frequently to those with DTI ratios of 30-36%, with 141 originations. The next most common DTI ratio? 20-30%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 506 $251,860,000 $497,747 $7,978 3.10%
    White 226 $128,000,000 $566,372 $9,933 2.99%
    Not provided 114 $59,270,000 $519,912 $8,945 3.00%
    Native Hawaiian or Islander 61 $31,915,000 $523,197 $9,171 3.06%
    Black 11 $6,445,000 $585,909 $14,293 3.00%
    Japanese 6 $2,910,000 $485,000 $7,940 3.06%
    Chinese 6 $2,700,000 $450,000 $9,167 3.06%
    Filipino 5 $2,385,000 $477,000 $7,007 3.15%
    American Indian 4 $2,060,000 $515,000 $7,482 3.09%
    Native Hawaiian 3 $1,555,000 $518,333 $14,022 3.17%

    Approval Rates

    Total approvals of all applications
    94.71%

    Compass Home Loans has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.09%

    Compass Home Loans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 942 $489,100,000 $519,214

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 942 $489,100,000 $519,214

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $11,845,000 $303,718 $4,849 2.91%
    40-60% 134 $57,670,000 $430,373 $6,845 2.96%
    60-80% 294 $150,510,000 $511,939 $8,162 3.14%
    80-100% 412 $230,090,000 $558,471 $8,338 3.08%
    Over 100% 59 $38,235,000 $648,051 $20,915 2.88%
    Under 20% 4 $750,000 $187,500 $4,443 2.62%