Security Home Mortgage Rates, Fees & Info
Orem, UTLEI: 5493008I5A5R6730MQ84
Tax ID: 87-0644866
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Mortgage Data
Review & 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 by origination volume include: Provo, Salt Lake City, Ogden, Heber, and St. George among others. We have data for 25 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 an average 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.15% | 4/21/24 |
| 30 Year Conventional Purchase | 6.67% | 4/21/24 |
| 30 Year Conventional Refi | 6.71% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 30 Year FHA Purchase | 7.42% | 4/21/24 |
| 30 Year FHA Refi | 6.97% | 4/21/24 |
| 30 Year VA Purchase | 6.20% | 4/21/24 |
| 30 Year VA Refi | 6.20% | 4/21/24 |
| 30 Year USDA Purchase | 6.55% | 4/21/24 |
| 30 Year USDA Refi | 6.63% | 4/21/24 |
| 15 Year Conventional Purchase | 6.16% | 4/21/24 |
| 15 Year Conventional Refi | 6.20% | 4/21/24 |
| 15 Year Cash-out Refi | 6.20% | 4/21/24 |
| 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. | ||
Security Home Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,937Origination Dollar Volume (All Markets)
$629,195,000Awards
SECURITY HOME MORTGAGE - 2021
SECURITY HOME MORTGAGE is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| 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% |
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.
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Product Mix
For 2021, Security Home Mortgage's most frequently originated type of loan was Conventional, with 1,630 originations. Their 2nd most popular type was FHA, with 173 originations.
Loan Reason
For 2021, Security Home Mortgage's most frequently cited loan purpose was Refi, with 1,177 originations. The 2nd most popular reason was Home Purchase, with 748 originations.
Loan Duration/Length
For 2021, Security Home Mortgage's most frequently cited loan duration was 30 Year, with 1,718 originations. The 2nd most popular length was 15 Year, with 131 originations.
Origination Fees/Closing Costs
Security Home Mortgage's average total fees were $5,902, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 997 originations.
Loan Sizing
2021 saw Security Home Mortgage place emphasis on $200k-400k loans with 1,183 originations, totaling $352,275,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.59%
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 origination62.26%
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 | 1,937 | $629,195,000 | $324,830 |
LTV Distribution
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% |