Land Home Financial Services Inc.

CONCORD, CA 94520

LEI: 5493006RIR31ORKYB608

Tax ID: 68-0151632

2019 Data | 2018 Data


Overview

Land Home Financial Services Inc. is a small mortgage company specializing in Home Purchase and Refi loans. Land Home Financial Services Inc. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Oakland, Sacramento, Des Moines, Urban Honolulu, and Minneapolis among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Land Home Financial Services Inc. is typically a low fee lendor.


Originations

8,609

Origination Dollar Volume (All Markets)

$2,246,365,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 5,081 $1,388,255,000 $273,225
FHA 2,639 $577,515,000 $218,839
VA 745 $261,135,000 $350,517
USDA 144 $19,460,000 $135,139

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 5,344 $1,278,580,000 $239,255
Other 167 $31,965,000 $191,407
Refi 2,019 $609,375,000 $301,820
Cash Out Refi 1,079 $326,445,000 $302,544

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
OAKLAND-BERKELEY-LIVERMORE, CA 618 $264,220,000 $427,540
SACRAMENTO-ROSEVILLE-FOLSOM, CA 517 $162,565,000 $314,439
Outside of Metro Areas 746 $137,710,000 $184,598
DES MOINES-WEST DES MOINES, IA 503 $95,465,000 $189,791
URBAN HONOLULU, HI 162 $85,330,000 $526,728
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 341 $80,975,000 $237,463
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 140 $75,640,000 $540,286
DENVER-AURORA-LAKEWOOD, CO 214 $67,750,000 $316,589
TAMPA-ST. PETERSBURG-CLEARWATER, FL 304 $58,340,000 $191,908
SEATTLE-BELLEVUE-KENT, WA 150 $55,910,000 $372,733
ORLANDO-KISSIMMEE-SANFORD, FL 217 $47,775,000 $220,161
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 147 $43,565,000 $296,361
LOS ANGELES-LONG BEACH-GLENDALE, CA 100 $40,010,000 $400,100
TACOMA-LAKEWOOD, WA 121 $36,955,000 $305,413
CHICAGO-NAPERVILLE-EVANSTON, IL 148 $36,220,000 $244,730
STOCKTON, CA 115 $36,155,000 $314,391
VALLEJO, CA 89 $31,245,000 $351,067
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 74 $30,430,000 $411,216
INDIANAPOLIS-CARMEL-ANDERSON, IN 140 $27,450,000 $196,071
YUBA CITY, CA 106 $26,330,000 $248,396
MERCED, CA 97 $25,545,000 $263,351
PHOENIX-MESA-CHANDLER, AZ 109 $25,365,000 $232,706
NORTH PORT-SARASOTA-BRADENTON, FL 103 $24,475,000 $237,621
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 91 $23,345,000 $256,538
CINCINNATI, OH-KY-IN 118 $22,850,000 $193,644
LAS VEGAS-HENDERSON-PARADISE, NV 90 $21,560,000 $239,556
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 99 $20,985,000 $211,970
COLUMBUS, OH 93 $19,125,000 $205,645
ST. LOUIS, MO-IL 97 $19,115,000 $197,062
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 41 $18,535,000 $452,073
SANTA ROSA-PETALUMA, CA 45 $17,955,000 $399,000
CAPE CORAL-FORT MYERS, FL 93 $17,885,000 $192,312
BALTIMORE-COLUMBIA-TOWSON, MD 74 $17,180,000 $232,162
DETROIT-DEARBORN-LIVONIA, MI 120 $16,320,000 $136,000
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 29 $15,115,000 $521,207
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 51 $13,835,000 $271,275
PUNTA GORDA, FL 79 $13,505,000 $170,949
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 48 $13,460,000 $280,417
COLORADO SPRINGS, CO 49 $13,375,000 $272,959
ELGIN, IL 53 $13,015,000 $245,566
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 64 $12,630,000 $197,344
MODESTO, CA 46 $12,310,000 $267,609
PORT ST. LUCIE, FL 54 $12,130,000 $224,630
SAN RAFAEL, CA 27 $11,895,000 $440,556
CHATTANOOGA, TN-GA 68 $11,650,000 $171,324
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 38 $11,570,000 $304,474
LOUISVILLE/JEFFERSON COUNTY, KY-IN 86 $11,270,000 $131,047
WARREN-TROY-FARMINGTON HILLS, MI 59 $11,085,000 $187,881
SPOKANE-SPOKANE VALLEY, WA 38 $11,030,000 $290,263
LAKELAND-WINTER HAVEN, FL 60 $10,940,000 $182,333
PITTSBURGH, PA 53 $10,785,000 $203,491
GRAND JUNCTION, CO 40 $9,610,000 $240,250
AMES, IA 60 $9,380,000 $156,333
ANAHEIM-SANTA ANA-IRVINE, CA 21 $9,275,000 $441,667
SALINAS, CA 22 $8,660,000 $393,636
KANSAS CITY, MO-KS 48 $8,560,000 $178,333
DAYTON-KETTERING, OH 60 $8,300,000 $138,333
SAN ANTONIO-NEW BRAUNFELS, TX 28 $7,240,000 $258,571
MONROE, MI 38 $6,370,000 $167,632
WILMINGTON, NC 28 $6,220,000 $222,143
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 32 $6,120,000 $191,250
CLEVELAND-ELYRIA, OH 37 $6,095,000 $164,730
OXNARD-THOUSAND OAKS-VENTURA, CA 13 $5,595,000 $430,385
RENO, NV 21 $5,375,000 $255,952
OLYMPIA-LACEY-TUMWATER, WA 20 $5,240,000 $262,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 32 $5,080,000 $158,750
NEW BRUNSWICK-LAKEWOOD, NJ 19 $5,005,000 $263,421
FRESNO, CA 15 $5,005,000 $333,667
SAN LUIS OBISPO-PASO ROBLES, CA 16 $5,000,000 $312,500
CHICO, CA 17 $4,365,000 $256,765
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 27 $4,335,000 $160,556
NAPA, CA 9 $4,075,000 $452,778
LAKE COUNTY-KENOSHA COUNTY, IL-WI 14 $3,960,000 $282,857
MIAMI-MIAMI BEACH-KENDALL, FL 13 $3,675,000 $282,692
WAUSAU-WESTON, WI 23 $3,615,000 $157,174
BREMERTON-SILVERDALE-PORT ORCHARD, WA 11 $3,565,000 $324,091
SYRACUSE, NY 29 $3,375,000 $116,379
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 14 $3,310,000 $236,429
NASSAU COUNTY-SUFFOLK COUNTY, NY 9 $3,195,000 $355,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 10 $3,180,000 $318,000
PROVIDENCE-WARWICK, RI-MA 13 $3,135,000 $241,154
BAKERSFIELD, CA 15 $3,095,000 $206,333
SALT LAKE CITY, UT 14 $3,060,000 $218,571
PALM BAY-MELBOURNE-TITUSVILLE, FL 10 $3,000,000 $300,000
SALEM, OR 10 $2,850,000 $285,000
PROVO-OREM, UT 8 $2,770,000 $346,250
ROCHESTER, NY 23 $2,715,000 $118,043
ELMIRA, NY 30 $2,670,000 $89,000
SANTA CRUZ-WATSONVILLE, CA 6 $2,660,000 $443,333
NEWARK, NJ-PA 7 $2,545,000 $363,571
JACKSONVILLE, FL 13 $2,485,000 $191,154
GRAND RAPIDS-KENTWOOD, MI 16 $2,420,000 $151,250
CHARLOTTE-CONCORD-GASTONIA, NC-SC 14 $2,390,000 $170,714
BUFFALO-CHEEKTOWAGA, NY 20 $2,370,000 $118,500
OGDEN-CLEARFIELD, UT 10 $2,360,000 $236,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 13 $2,355,000 $181,154
RICHMOND, VA 10 $2,300,000 $230,000
OCALA, FL 13 $2,225,000 $171,154
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 8 $2,080,000 $260,000
PHILADELPHIA, PA 9 $1,875,000 $208,333
MILWAUKEE-WAUKESHA, WI 13 $1,865,000 $143,462
AKRON, OH 11 $1,845,000 $167,727
TUCSON, AZ 8 $1,720,000 $215,000
DALLAS-PLANO-IRVING, TX 8 $1,710,000 $213,750
EAST STROUDSBURG, PA 10 $1,680,000 $168,000
KAHULUI-WAILUKU-LAHAINA, HI 4 $1,650,000 $412,500
HOMOSASSA SPRINGS, FL 12 $1,650,000 $137,500
BATON ROUGE, LA 9 $1,645,000 $182,778
FORT COLLINS, CO 6 $1,620,000 $270,000
WILMINGTON, DE-MD-NJ 7 $1,615,000 $230,714
ALBANY-SCHENECTADY-TROY, NY 10 $1,610,000 $161,000
MADERA, CA 7 $1,605,000 $229,286
ANN ARBOR, MI 6 $1,430,000 $238,333
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 6 $1,420,000 $236,667
UTICA-ROME, NY 16 $1,370,000 $85,625
FLINT, MI 7 $1,345,000 $192,143
RALEIGH-CARY, NC 6 $1,340,000 $223,333
BOSTON, MA 4 $1,330,000 $332,500
PANAMA CITY, FL 5 $1,325,000 $265,000
KENNEWICK-RICHLAND, WA 7 $1,305,000 $186,429
AUSTIN-ROUND ROCK-GEORGETOWN, TX 4 $1,250,000 $312,500
IOWA CITY, IA 6 $1,240,000 $206,667
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 12 $1,220,000 $101,667
REDDING, CA 5 $1,185,000 $237,000
BEND, OR 4 $1,160,000 $290,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 3 $1,145,000 $381,667
GARY, IN 8 $1,140,000 $142,500
WORCESTER, MA-CT 5 $1,135,000 $227,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 5 $1,065,000 $213,000
BLOOMINGTON, IN 5 $1,065,000 $213,000
CLARKSVILLE, TN-KY 8 $1,050,000 $131,250
PRESCOTT VALLEY-PRESCOTT, AZ 4 $1,040,000 $260,000
MOUNT VERNON-ANACORTES, WA 3 $1,025,000 $341,667
MUSKEGON, MI 8 $1,000,000 $125,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 4 $990,000 $247,500
GREELEY, CO 4 $990,000 $247,500
NAPLES-MARCO ISLAND, FL 5 $965,000 $193,000
VISALIA, CA 4 $960,000 $240,000
BARNSTABLE TOWN, MA 3 $945,000 $315,000
JANESVILLE-BELOIT, WI 5 $905,000 $181,000
MANKATO, MN 3 $895,000 $298,333
CAMDEN, NJ 3 $885,000 $295,000
CEDAR RAPIDS, IA 4 $870,000 $217,500
SANTA MARIA-SANTA BARBARA, CA 4 $870,000 $217,500
BURLINGTON-SOUTH BURLINGTON, VT 3 $845,000 $281,667
JACKSONVILLE, NC 5 $825,000 $165,000
SPRINGFIELD, OH 7 $815,000 $116,429
SPRINGFIELD, MA 4 $810,000 $202,500
GRANTS PASS, OR 3 $755,000 $251,667
BOISE CITY, ID 2 $740,000 $370,000
SEBASTIAN-VERO BEACH, FL 4 $730,000 $182,500
GLENS FALLS, NY 3 $715,000 $238,333
BILLINGS, MT 4 $710,000 $177,500
ST. CLOUD, MN 4 $710,000 $177,500
JACKSON, MI 4 $680,000 $170,000
CORVALLIS, OR 2 $630,000 $315,000
SALISBURY, MD-DE 4 $630,000 $157,500
PUEBLO, CO 4 $600,000 $150,000
FORT WAYNE, IN 3 $595,000 $198,333
CANTON-MASSILLON, OH 3 $595,000 $198,333
LEXINGTON-FAYETTE, KY 5 $595,000 $119,000
SPARTANBURG, SC 4 $580,000 $145,000
NEW HAVEN-MILFORD, CT 3 $555,000 $185,000
MADISON, WI 3 $525,000 $175,000
BINGHAMTON, NY 5 $525,000 $105,000
GREEN BAY, WI 3 $515,000 $171,667
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $510,000 $255,000
COLUMBIA, SC 4 $500,000 $125,000
TALLAHASSEE, FL 4 $480,000 $120,000
TRENTON-PRINCETON, NJ 4 $480,000 $120,000
CLEVELAND, TN 2 $470,000 $235,000
ALBANY-LEBANON, OR 2 $460,000 $230,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $455,000 $455,000
GAINESVILLE, FL 3 $455,000 $151,667
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 2 $440,000 $220,000
FLORENCE, SC 4 $440,000 $110,000
GREENVILLE-ANDERSON, SC 3 $435,000 $145,000
HICKORY-LENOIR-MORGANTON, NC 3 $425,000 $141,667
EUGENE-SPRINGFIELD, OR 2 $410,000 $205,000
STATE COLLEGE, PA 2 $410,000 $205,000
LONGVIEW, WA 2 $400,000 $200,000
TOLEDO, OH 3 $385,000 $128,333
NORWICH-NEW LONDON, CT 1 $385,000 $385,000
ROCHESTER, MN 2 $380,000 $190,000
ALBUQUERQUE, NM 2 $350,000 $175,000
BIRMINGHAM-HOOVER, AL 2 $350,000 $175,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 2 $340,000 $170,000
DALTON, GA 2 $330,000 $165,000
FARMINGTON, NM 2 $330,000 $165,000
DAPHNE-FAIRHOPE-FOLEY, AL 1 $325,000 $325,000
CARSON CITY, NV 1 $325,000 $325,000
EL CENTRO, CA 1 $325,000 $325,000
SIOUX FALLS, SD 2 $320,000 $160,000
CHARLESTON-NORTH CHARLESTON, SC 2 $320,000 $160,000
FLAGSTAFF, AZ 1 $315,000 $315,000
ELIZABETHTOWN-FORT KNOX, KY 3 $305,000 $101,667
AUGUSTA-RICHMOND COUNTY, GA-SC 2 $300,000 $150,000
THE VILLAGES, FL 3 $295,000 $98,333
ASHEVILLE, NC 1 $295,000 $295,000
READING, PA 1 $285,000 $285,000
BOULDER, CO 1 $285,000 $285,000
DULUTH, MN-WI 2 $280,000 $140,000
SANTA FE, NM 1 $275,000 $275,000
RACINE, WI 2 $270,000 $135,000
SPRINGFIELD, MO 1 $265,000 $265,000
LANCASTER, PA 1 $255,000 $255,000
GREENSBORO-HIGH POINT, NC 1 $255,000 $255,000
BRIDGEPORT-STAMFORD-NORWALK, CT 1 $245,000 $245,000
HANFORD-CORCORAN, CA 1 $245,000 $245,000
TULSA, OK 2 $240,000 $120,000
LOGAN, UT-ID 1 $235,000 $235,000
ERIE, PA 3 $235,000 $78,333
YORK-HANOVER, PA 1 $235,000 $235,000
MIDLAND, TX 1 $235,000 $235,000
MACON-BIBB COUNTY, GA 1 $215,000 $215,000
ROCKFORD, IL 1 $215,000 $215,000
VINELAND-BRIDGETON, NJ 1 $215,000 $215,000
FAYETTEVILLE, NC 2 $210,000 $105,000
DURHAM-CHAPEL HILL, NC 1 $205,000 $205,000
ST. JOSEPH, MO-KS 1 $205,000 $205,000
NEW BERN, NC 1 $205,000 $205,000
MEDFORD, OR 1 $195,000 $195,000
BEAUMONT-PORT ARTHUR, TX 1 $185,000 $185,000
HARRISBURG-CARLISLE, PA 1 $185,000 $185,000
SPRINGFIELD, IL 1 $165,000 $165,000
MISSOULA, MT 1 $165,000 $165,000
SCRANTON--WILKES-BARRE, PA 2 $160,000 $80,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $155,000 $155,000
LAKE CHARLES, LA 1 $145,000 $145,000
LAKE HAVASU CITY-KINGMAN, AZ 2 $140,000 $70,000
CAPE GIRARDEAU, MO-IL 1 $135,000 $135,000
SAGINAW, MI 1 $135,000 $135,000
DOVER, DE 1 $135,000 $135,000
MONTGOMERY, AL 1 $125,000 $125,000
MEMPHIS, TN-MS-AR 2 $120,000 $60,000
TERRE HAUTE, IN 1 $105,000 $105,000
PEORIA, IL 1 $105,000 $105,000
EL PASO, TX 1 $105,000 $105,000
WINSTON-SALEM, NC 1 $105,000 $105,000
YAKIMA, WA 1 $105,000 $105,000
NILES, MI 1 $95,000 $95,000
SIERRA VISTA-DOUGLAS, AZ 1 $95,000 $95,000
CUMBERLAND, MD-WV 1 $95,000 $95,000
BAY CITY, MI 1 $85,000 $85,000
SOUTH BEND-MISHAWAKA, IN-MI 1 $85,000 $85,000
EVANSVILLE, IN-KY 1 $75,000 $75,000
MUNCIE, IN 1 $75,000 $75,000
DUBUQUE, IA 1 $75,000 $75,000
SUMTER, SC 1 $75,000 $75,000
VALDOSTA, GA 1 $65,000 $65,000
DANVILLE, IL 1 $45,000 $45,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
2.5-3% 24 $7,110,000 $296,250
3-4% 3,684 $1,031,280,000 $279,935
4-5% 3,613 $932,505,000 $258,097
5-6% 1,208 $255,010,000 $211,101
6-7% 45 $10,275,000 $228,333
7-8% 20 $5,630,000 $281,500
Over 8% 15 $4,555,000 $303,667

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 708 $54,850,000 $77,472
$100k-200k 2,762 $422,980,000 $153,143
$200k-400k 3,813 $1,069,835,000 $280,576
$400k-600k 1,038 $487,910,000 $470,048
$600k-1000k 271 $189,915,000 $700,793
$Over $1MM 17 $20,875,000 $1,227,941

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 192 $44,700,000 $232,813
40-60% 616 $168,670,000 $273,815
60-80% 2,062 $604,290,000 $293,060
80-100% 5,503 $1,351,115,000 $245,523
Over 100% 195 $70,455,000 $361,308
Under 20% 41 $7,135,000 $174,024

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,454 $487,850,000 $335,523
$150k-250k 790 $320,270,000 $405,405
$50k-75k 2,227 $468,885,000 $210,546
$50k-or less 1,756 $250,590,000 $142,705
$75k-100k 1,488 $404,010,000 $271,512
$Over $250k 228 $115,410,000 $506,184

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 6,397 $1,633,605,000 $255,370
Not provided 798 $228,510,000 $286,353
Black 789 $191,105,000 $242,212
Asian 464 $147,120,000 $317,069
Native Hawaiian 55 $17,495,000 $318,091
American Indian 56 $15,840,000 $282,857
Not applicable 43 $11,115,000 $258,488
Other Pacific Islander 2 $560,000 $280,000
Asian Indian 3 $515,000 $171,667
Filipino 1 $385,000 $385,000
Vietnamese 1 $115,000 $115,000

Approval Rates

Total approvals of all applications
89.47%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
61.68%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
5854.61 1 $95,000 $95,000
6635.67 1 $95,000 $95,000
NA 8,607 $2,246,175,000 $260,971

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 8,530 $2,229,250,000 $261,342

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 385 $70,965,000 $184,325
Single Family (1-4 Units):Site-Built 8,224 $2,175,400,000 $264,518