Highmark Mortgage Rates, Fees & Info
Rapid City, SDLEI: 5493009JZ6NIQL6RQT28
Tax ID: 46-0242124
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Mortgage Data
Review & Overview
Highmark is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Highmark has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Rapid City, Gillette, Spearfish, Pierre, and Seattle among others. We have data for 16 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
202Origination Dollar Volume (All Markets)
$43,840,000Top 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) | 121 | $25,665,000 | $212,107 | $0 | 0.00% |
| Outside of Metro Areas | 39 | $8,555,000 | $219,359 | $0 | 0.00% |
| Gillette, WY (FHA|USDA|VA) | 14 | $3,200,000 | $228,571 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 14 | $3,000,000 | $214,286 | $0 | 0.00% |
| Pierre, SD (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| CASPER, WY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Williston, ND (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
For 2020, Highmark's most frequently originated type of loan was Conventional, with 182 originations. Their 2nd most popular type was VA, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 89 | $20,865,000 | $234,438 | $0 | 0.00% |
| Cash Out Refi | 57 | $10,755,000 | $188,684 | $0 | 0.00% |
| Home Purchase | 56 | $12,220,000 | $218,214 | $0 | 0.00% |
For 2020, Highmark's most frequently cited loan purpose was Refi, with 89 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 202 | $43,840,000 | $217,030 | $0 | 0.00% |
For 2020, Highmark's most frequently cited loan duration was Other, with 202 originations.
Loan Sizing
2020 saw Highmark place emphasis on $200k-400k loans with 90 originations, totaling $24,860,000 in origination value.
Applicant Income
Highmark lent most frequently to those with incomes in the $75k-100k range, with 54 originations. The second most popular income band? $50k-75k, with 43 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 202 | $43,840,000 | $217,030 | $0 | 0.00% |
Highmark lent most frequently to those with DTI ratios of Exempt%, with 202 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination99.50%
Highmark has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 202 | $43,840,000 | $217,030 |