Security Home Mortgage . Rates, Fees & Info

Orem, UT

LEI: 5493008I5A5R6730MQ84

Tax ID: 87-0644866

4.4 stars - out of 5 stars, based on 44 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Security Home Mortgage . is a smaller mortgage company specializing in Refi and 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 include Provo, Salt Lake City, Ogden, Heber, and St. George among others. Security Home Mortgage . has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Security Home Mortgage . is typically an average fee lendor.


Originations

1,937

Origination Dollar Volume (All Markets)

$629,195,000
Show all (5) awards

Relative Rate

Security Home Mortgage .'s average 30 year fixed rate mortgage of loans were 2.98%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.17%.

Relative Fees

Security Home Mortgage .'s average total fees for a 30 year fixed rate mortgage are $5,902.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PROVO-OREM, UT (FHA|USDA|VA) 1,139 $370,075,000 $324,912 $5,383 2.94%
SALT LAKE CITY, UT (FHA|USDA|VA) 432 $146,170,000 $338,356 $6,286 2.94%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 224 $70,440,000 $314,464 $6,077 2.87%
Heber, UT (FHA|USDA|VA) 22 $9,700,000 $440,909 $6,117 2.95%
ST. GEORGE, UT (FHA|USDA|VA) 29 $8,655,000 $298,448 $4,631 2.88%
Outside of Metro Areas 34 $7,540,000 $221,765 $5,551 2.92%
LOGAN, UT-ID (FHA|USDA|VA) 18 $5,020,000 $278,889 $5,327 2.82%
Cedar City, UT (FHA|USDA|VA) 6 $1,760,000 $293,333 $6,320 3.25%
Vernal, UT (FHA|USDA|VA) 7 $1,675,000 $239,286 $5,346 3.14%
Price, UT (FHA|USDA|VA) 7 $1,255,000 $179,286 $6,137 2.93%
IDAHO FALLS, ID (FHA|USDA|VA) 2 $880,000 $440,000 $6,772 3.19%
Jackson, WY-ID (FHA|USDA|VA) 1 $655,000 $655,000 $7,407 4.13%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $645,000 $645,000 $4,078 2.99%
POCATELLO, ID (FHA|USDA|VA) 3 $545,000 $181,667 $4,469 3.50%
Rexburg, ID (FHA|USDA|VA) 1 $545,000 $545,000 $5,627 2.25%
Newport, OR (FHA|USDA|VA) 1 $505,000 $505,000 $6,051 2.75%
BOISE CITY, ID (FHA|USDA|VA) 2 $480,000 $240,000 $4,603 3.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $465,000 $465,000 $4,263 3.63%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $435,000 $435,000 $3,883 2.50%
FRESNO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $0 2.25%
Blackfoot, ID (FHA|USDA|VA) 1 $335,000 $335,000 $8,155 2.50%
Burley, ID (FHA|USDA|VA) 1 $325,000 $325,000 $5,229 2.75%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $305,000 $305,000 $5,398 3.50%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $285,000 $285,000 $4,222 2.50%
La Grande, OR (FHA|USDA|VA) 1 $115,000 $115,000 $3,057 3.75%

Security Home Mortgage .'s top markets include Provo, Salt Lake City, Ogden, Heber, and St. George among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,632 $520,840,000 $319,142 $4,818 2.96%
FHA 173 $58,085,000 $335,751 $11,632 2.90%
VA 98 $40,270,000 $410,918 $8,068 2.54%
USDA 34 $10,000,000 $294,118 $7,917 2.53%

For the 2021 period, Security Home Mortgage .'s most frequently originated loan type of loans were Conventional, with 1,632 originations. Their 2nd most popular type is FHA, with 173 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,177 $346,955,000 $294,779 $4,835 2.91%
Home Purchase 748 $278,180,000 $371,898 $7,001 2.96%
Cash Out Refi 9 $3,085,000 $342,778 $4,679 3.07%
Home Improvement 3 $975,000 $325,000 $4,837 3.33%

For the 2021, Security Home Mortgage .'s most frequently cited loan purpose of loans were Refi, with 1,177 originations. The 2nd most popular reason of loans were Home Purchase, with 748 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,718 $577,330,000 $336,048 $5,902 2.98%
15 Year 131 $30,625,000 $233,779 $3,881 2.47%
20 Year 67 $17,155,000 $256,045 $3,881 2.75%
Other 12 $3,000,000 $250,000 $3,448 2.61%
10 Year 9 $1,085,000 $120,556 $3,406 2.32%

For the 2021, Security Home Mortgage .'s most frequently cited loan length of loans were 30 Year, with 1,718 originations. The 2nd most popular length of loans were 15 Year, with 131 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 835 $268,845,000 $321,970
$3k-4k 440 $132,730,000 $301,659
$2k-3k 289 $83,375,000 $288,495
$5k+ 279 $114,775,000 $411,380
$<1k 27 $11,055,000 $409,444

$5,902 of loans were Security Home Mortgage .'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 835 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 997 $321,765,000 $322,733
3-4% 615 $209,385,000 $340,463
<2.5% 312 $93,250,000 $298,878
4-5% 13 $4,795,000 $368,846

During 2021, Security Home Mortgage .'s average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 997 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,183 $352,275,000 $297,781 $5,585 2.94%
$400k-600k 426 $201,050,000 $471,948 $6,783 2.94%
$100k-200k 264 $42,880,000 $162,424 $3,821 2.85%
$600k-1MM 39 $28,005,000 $718,077 $8,988 3.13%
$100,000 or less 22 $1,760,000 $80,000 $3,218 2.78%
$1MM+ 3 $3,225,000 $1,075,000 $9,153 3.29%

2021 saw Security Home Mortgage . place emphasis on $200k-400k loans with 1,183 originations, totaling $352,275,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 571 $164,585,000 $288,240 $6,008 2.91%
$100k-150k 424 $152,390,000 $359,410 $5,643 2.95%
$75k-100k 405 $139,235,000 $343,790 $5,850 2.95%
$50k or less 285 $67,565,000 $237,070 $5,132 2.85%
$150k-250k 201 $80,985,000 $402,910 $5,168 2.99%
$250k+ 50 $23,940,000 $478,800 $5,522 2.96%

Security Home Mortgage . lent most frequently to those with incomes in the $50k-75k range, with 571 originations. The second most popular income band? $100k-150k, with 424 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 364 $123,120,000 $338,242 $5,309 2.94%
20-30% 363 $112,405,000 $309,656 $4,601 2.89%
<20% 135 $38,725,000 $286,852 $4,412 2.82%
44% 117 $39,695,000 $339,274 $6,178 3.02%
43% 88 $28,930,000 $328,750 $6,234 3.01%
37% 84 $27,770,000 $330,595 $5,546 2.90%
39% 80 $23,970,000 $299,625 $5,292 2.97%
41% 79 $25,775,000 $326,266 $6,220 2.98%
42% 76 $24,500,000 $322,368 $4,694 2.99%
38% 72 $24,340,000 $338,056 $5,054 2.96%
36% 64 $19,660,000 $307,188 $5,429 2.87%
50-60% 64 $23,310,000 $364,219 $12,196 2.81%
46% 64 $22,740,000 $355,313 $7,292 2.95%
40% 64 $20,400,000 $318,750 $5,408 2.97%
49% 49 $16,535,000 $337,449 $6,523 3.03%
48% 48 $16,780,000 $349,583 $8,412 3.07%
45% 45 $14,425,000 $320,556 $5,907 3.02%
47% 31 $9,925,000 $320,161 $5,849 3.01%
>60% 2 $440,000 $220,000 $6,646 2.94%

Security Home Mortgage . lent most frequently to those with DTI ratios of 30-36%, with 364 originations. The next most common DTI ratio? 20-30%, with 363 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,863 $605,285,000 $324,898 $5,664 2.93%
Asian 43 $13,355,000 $310,581 $5,313 2.90%
Black 10 $3,430,000 $343,000 $6,479 3.01%
Native Hawaiian 8 $2,920,000 $365,000 $8,329 3.00%
American Indian 8 $2,560,000 $320,000 $5,296 2.91%
Not provided 5 $1,645,000 $329,000 $5,401 2.95%

Approval Rates

Total approvals of all applications
97.90%

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
70.67%

Security Home Mortgage . has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,937 $629,195,000 $324,830

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,937 $629,195,000 $324,830

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 107 $20,405,000 $190,701 $3,769 2.73%
40-60% 385 $98,645,000 $256,221 $4,093 2.81%
60-80% 753 $250,705,000 $332,942 $5,179 3.05%
80-100% 676 $253,930,000 $375,636 $7,197 2.89%
Over 100% 11 $5,005,000 $455,000 $15,706 3.02%
Under 20% 5 $505,000 $101,000 $3,641 2.60%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Security National Financial Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
Security National Financial Corp Conventional home mortgage Closing on a mortgage 1 7.1%
Security National Financial Corp Conventional home mortgage Incorrect information on your report 1 7.1%
Security National Financial Corp Conventional home mortgage Trouble during payment process 5 35.7%
Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
Security National Financial Corp FHA mortgage Trouble during payment process 2 14.3%
Security National Financial Corp Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 14.3%
Security National Financial Corp VA mortgage Closing on a mortgage 1 7.1%