Security Home Mortgage Rates, Fees & Info

Orem, UT

LEI: 5493008I5A5R6730MQ84

Tax ID: 87-0644866

2.8 stars - Updated: 6/16/24 - out of 5 stars, based on 25 reviews

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

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Mortgage Data

Review & Overview

Security Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. Security Home Mortgage 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 by origination volume include: Provo, Salt Lake City, Ogden, Price, and Heber among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Security Home Mortgage 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. Security Home Mortgage 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.15% 6/16/24
30 Year Conventional Purchase 6.67% 6/16/24
30 Year Conventional Refi 6.71% 6/16/24
30 Year Cash-out Refi 6.27% 6/16/24
30 Year FHA Purchase 7.42% 6/16/24
30 Year FHA Refi 6.97% 6/16/24
30 Year VA Purchase 6.20% 6/16/24
30 Year VA Refi 6.20% 6/16/24
30 Year USDA Purchase 6.55% 6/16/24
30 Year USDA Refi 6.63% 6/16/24
15 Year Conventional Purchase 6.16% 6/16/24
15 Year Conventional Refi 6.20% 6/16/24
15 Year Cash-out Refi 6.20% 6/16/24
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.

Security Home Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Security Home Mortgage. 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

619

Origination Dollar Volume (All Markets)

$250,215,000

Awards

SECURITY HOME MORTGAGE FHA Loans gold
Show all (1) awards

Relative Rate

Security Home Mortgage's average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Security Home Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $10,745.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
PROVO-OREM, UT (FHA|USDA|VA) 273 $116,475,000 $426,648 $10,934 6.68%
SALT LAKE CITY, UT (FHA|USDA|VA) 143 $62,965,000 $440,315 $11,305 6.52%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 41 $19,165,000 $467,439 $10,291 6.63%
Price, UT (FHA|USDA|VA) 62 $14,430,000 $232,742 $8,824 6.60%
Outside of Metro Areas 44 $13,780,000 $313,182 $10,000 6.81%
Heber, UT (FHA|USDA|VA) 9 $7,085,000 $787,222 $16,911 6.55%
ST. GEORGE, UT (FHA|USDA|VA) 15 $5,255,000 $350,333 $8,126 7.02%
LOGAN, UT-ID (FHA|USDA|VA) 7 $2,445,000 $349,286 $9,614 6.52%
Cedar City, UT (FHA|USDA|VA) 5 $1,615,000 $323,000 $6,986 7.12%
IDAHO FALLS, ID (FHA|USDA|VA) 4 $1,290,000 $322,500 $10,608 6.59%
BOISE CITY, ID (FHA|USDA|VA) 3 $1,095,000 $365,000 $6,422 6.54%
Vernal, UT (FHA|USDA|VA) 4 $960,000 $240,000 $5,899 6.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $720,000 $360,000 $9,054 6.44%
GRANTS PASS, OR (FHA|USDA|VA) 1 $665,000 $665,000 $11,252 7.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $455,000 $455,000 $8,291 6.25%
SALEM, OR (FHA|USDA|VA) 1 $435,000 $435,000 $551 7.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $17,728 6.99%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $0 9.50%
Rexburg, ID (FHA|USDA|VA) 1 $395,000 $395,000 $14,843 7.13%
POCATELLO, ID (FHA|USDA|VA) 1 $175,000 $175,000 $0 7.50%
Security Home Mortgage's top markets include Provo, Salt Lake City, Ogden, Price, and Heber among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SECURITY HOME MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    State Bank of Southern Utah
    Similarity Rank: 176
    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 300
    CYPRUS Federal Credit Union
    Similarity Rank: 900
    Utah Power
    Similarity Rank: 975
    GRANITE FEDERAL CREDIT UNION
    Similarity Rank: 1000
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1100
    UTAH COMMUNITY
    Similarity Rank: 1152
    First-Citizens Bank & Trust Company
    Similarity Rank: 1275
    NEST HOME LENDING, LLC
    Similarity Rank: 1560
    Utah Mortgage Loan Corporation
    Similarity Rank: 1743

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 402 $168,640,000 $419,502 $8,625 6.80%
    FHA 186 $68,090,000 $366,075 $14,894 6.44%
    VA 27 $12,615,000 $467,222 $8,428 6.16%
    USDA 4 $870,000 $217,500 $9,502 5.94%

    For 2023, Security Home Mortgage's most frequently originated type of loan was Conventional, with 402 originations. Their 2nd most popular type was FHA, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 542 $218,770,000 $403,635 $10,580 6.64%
    Refi 72 $29,900,000 $415,278 $11,261 6.74%
    Home Improvement 3 $745,000 $248,333 $8,501 6.76%
    Other 1 $405,000 $405,000 $0 9.50%
    Cash Out Refi 1 $395,000 $395,000 $13,812 6.38%

    For 2023, Security Home Mortgage's most frequently cited loan purpose was Home Purchase, with 542 originations. The 2nd most popular reason was Refi, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 603 $242,225,000 $401,700 $10,745 6.64%
    15 Year 8 $2,390,000 $298,750 $5,936 5.75%
    Other 6 $5,380,000 $896,667 $7,177 8.67%
    10 Year 1 $15,000 $15,000 $175 9.00%
    20 Year 1 $205,000 $205,000 $7,694 6.50%

    For 2023, Security Home Mortgage's most frequently cited loan duration was 30 Year, with 603 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 328 $147,980,000 $451,159
    $1k-2k 62 $26,760,000 $431,613
    $4k-5k 61 $19,185,000 $314,508
    $3k-4k 52 $17,540,000 $337,308
    $2k-3k 47 $16,335,000 $347,553
    $<1k 32 $11,760,000 $367,500

    Security Home Mortgage's average total fees were $10,745, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 328 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 323 $129,105,000 $399,706
    7-8% 142 $55,790,000 $392,887
    5-6% 127 $51,195,000 $403,110
    Over 8% 20 $10,870,000 $543,500
    4-5% 7 $3,255,000 $465,000

    During 2023, Security Home Mortgage's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 323 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 253 $78,575,000 $310,573 $9,434 6.60%
    $400k-600k 218 $102,730,000 $471,239 $12,057 6.60%
    $100k-200k 64 $9,940,000 $155,313 $5,896 6.70%
    $600k-1MM 62 $42,630,000 $687,581 $13,459 6.81%
    $100,000 or less 11 $665,000 $60,455 $5,147 7.39%
    $1MM+ 11 $15,675,000 $1,425,000 $24,356 7.25%

    2023 saw Security Home Mortgage place emphasis on $200k-400k loans with 253 originations, totaling $78,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 188 $80,280,000 $427,021 $11,431 6.67%
    $75k-100k 132 $47,690,000 $361,288 $11,476 6.53%
    $50k-75k 117 $29,215,000 $249,701 $8,392 6.49%
    $150k-250k 108 $54,580,000 $505,370 $10,938 6.80%
    $250k+ 45 $31,695,000 $704,333 $12,913 7.05%
    $50k or less 29 $6,755,000 $232,931 $6,647 6.63%

    Security Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 188 originations. The second most popular income band? $75k-100k, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 83 $32,925,000 $396,687 $15,315 6.46%
    30-36% 68 $27,940,000 $410,882 $10,284 6.54%
    20-30% 54 $23,190,000 $429,444 $8,180 6.73%
    49% 53 $23,375,000 $441,038 $10,937 6.70%
    40% 36 $15,180,000 $421,667 $10,366 6.60%
    45% 35 $12,605,000 $360,143 $9,949 6.64%
    44% 33 $12,625,000 $382,576 $11,726 6.43%
    48% 30 $11,270,000 $375,667 $8,024 7.04%
    39% 30 $12,830,000 $427,667 $9,371 6.89%
    42% 27 $11,285,000 $417,963 $9,548 6.90%
    41% 27 $11,055,000 $409,444 $11,609 6.80%
    47% 26 $10,530,000 $405,000 $11,021 6.25%
    46% 25 $9,935,000 $397,400 $9,951 6.65%
    43% 24 $10,090,000 $420,417 $10,044 6.69%
    38% 22 $9,740,000 $442,727 $9,550 7.01%
    <20% 14 $3,920,000 $280,000 $6,927 6.84%
    36% 14 $5,140,000 $367,143 $8,894 6.48%
    37% 13 $3,775,000 $290,385 $7,452 6.55%
    >60% 3 $785,000 $261,667 $6,163 7.06%

    Security Home Mortgage lent most frequently to those with DTI ratios of 50-60%, with 83 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 583 $233,825,000 $401,072 $10,601 6.66%
    Asian 16 $7,170,000 $448,125 $11,577 6.40%
    Not provided 14 $6,530,000 $466,429 $9,466 6.58%
    Black 2 $960,000 $480,000 $22,176 6.50%
    Native Hawaiian or Islander 1 $725,000 $725,000 $13,482 6.50%
    American Indian 2 $720,000 $360,000 $11,192 7.25%
    Asian Indian 1 $285,000 $285,000 $9,439 6.88%

    Approval Rates

    Total approvals of all applications
    98.04%

    Security Home Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    35.22%

    Security Home Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 619 $250,215,000 $404,225

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    619 $250,215,000 $404,225

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $4,145,000 $180,217 $5,273 6.75%
    40-60% 50 $16,490,000 $329,800 $7,792 6.53%
    60-80% 159 $67,455,000 $424,245 $9,207 6.84%
    80-100% 373 $157,375,000 $421,917 $11,844 6.58%
    Over 100% 6 $4,200,000 $700,000 $15,196 6.19%
    Under 20% 8 $550,000 $68,750 $5,516 7.44%