Highmark Mortgage Rates, Fees & Info

Rapid City, SD

LEI: 5493009JZ6NIQL6RQT28

Tax ID: 46-0242124

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Mortgage Data

Review & Overview

Highmark is a smaller mortgage company specializing in Home Purchase and Refi loans. Highmark 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: Rapid City, Spearfish, Gillette, Cleveland, and Minneapolis among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Highmark has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

100

Origination Dollar Volume (All Markets)

$18,620,000

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
RAPID CITY, SD (FHA|USDA|VA) 68 $12,840,000 $188,824 $0 0.00%
Outside of Metro Areas 19 $3,425,000 $180,263 $0 0.00%
Spearfish, SD (FHA|USDA|VA) 5 $755,000 $151,000 $0 0.00%
Gillette, WY (FHA|USDA|VA) 3 $575,000 $191,667 $0 0.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
BISMARCK, ND (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
GREELEY, CO (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Highmark's top markets include Rapid City, Spearfish, Gillette, Cleveland, and Minneapolis among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 78 $14,530,000 $186,282 $0 0.00%
    VA 11 $2,535,000 $230,455 $0 0.00%
    FHA 9 $1,275,000 $141,667 $0 0.00%
    USDA 2 $280,000 $140,000 $0 0.00%

    For 2018, Highmark's most frequently originated type of loan was Conventional, with 78 originations. Their 2nd most popular type was VA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $10,980,000 $203,333 $0 0.00%
    Refi 46 $7,640,000 $166,087 $0 0.00%

    For 2018, Highmark's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 100 $18,620,000 $186,200 $0 0.00%

    For 2018, Highmark's most frequently cited loan duration was Other, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 39 $6,075,000 $155,769 $0 0.00%
    $200k-400k 36 $9,470,000 $263,056 $0 0.00%
    $100,000 or less 21 $1,325,000 $63,095 $0 0.00%
    $400k-600k 4 $1,750,000 $437,500 $0 0.00%

    2018 saw Highmark place emphasis on $100k-200k loans with 39 originations, totaling $6,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $4,680,000 $167,143 $0 0.00%
    $100k-150k 22 $4,860,000 $220,909 $0 0.00%
    $75k-100k 20 $4,130,000 $206,500 $0 0.00%
    $50k or less 18 $2,030,000 $112,778 $0 0.00%
    $150k-250k 11 $2,755,000 $250,455 $0 0.00%
    $250k+ 1 $165,000 $165,000 $0 0.00%

    Highmark lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $100k-150k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 100 $18,620,000 $186,200 $0 0.00%

    Highmark lent most frequently to those with DTI ratios of Exempt%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $17,905,000 $188,474 $0 0.00%
    American Indian 2 $400,000 $200,000 $0 0.00%
    Not provided 2 $180,000 $90,000 $0 0.00%
    Korean 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.26%

    Highmark 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
    90.00%

    Highmark has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 100 $18,620,000 $186,200

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $320,000 $160,000
    Single Family (1-4 Units):Site-Built 98 $18,300,000 $186,735