Home Mortgage Alliance Rates, Fees & Info
DOVER, DELEI: 5493009YXZEN8325UC34
Tax ID: 46-3986756
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Mortgage Data
Review & Overview
Home Mortgage Alliance is a smaller mortgage company specializing in Home Purchase loans. Home Mortgage Alliance has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Denver, Fort Collins, Portland, Minneapolis, and Greeley among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Home Mortgage Alliance 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. Home Mortgage Alliance 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.19% | 4/20/24 |
| 30 Year Conventional Refi | 6.63% | 4/20/24 |
| 30 Year Cash-out Refi | 6.82% | 4/20/24 |
| 30 Year FHA Purchase | 7.59% | 4/20/24 |
| 30 Year FHA Refi | 7.14% | 4/20/24 |
| 30 Year VA Purchase | 6.13% | 4/20/24 |
| 30 Year USDA Purchase | 7.19% | 4/20/24 |
| 15 Year Conventional Purchase | 6.10% | 4/20/24 |
| 15 Year Conventional Refi | 6.39% | 4/20/24 |
| 15 Year Cash-out Refi | 6.39% | 4/20/24 |
| 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. | ||
Home Mortgage Alliance Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
39Origination Dollar Volume (All Markets)
$18,675,000Awards
HOME MORTGAGE ALLIANCE - 2023
HOME MORTGAGE ALLIANCE is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Home Mortgage Alliance's average 30 year fixed mortgage rate was
5.86%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.62%.
Relative Fees (Closing Costs)
Home Mortgage Alliance's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,631.
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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 29 | $14,305,000 | $493,276 | $8,198 | 5.74% |
| FORT COLLINS, CO (FHA|USDA|VA) | 5 | $2,235,000 | $447,000 | $5,792 | 5.98% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $12,059 | 5.81% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $22,830 | 5.88% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $7,783 | 7.13% |
| Outside of Metro Areas | 1 | $425,000 | $425,000 | $14,292 | 7.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against HOME MORTGAGE ALLIANCE 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $13,885,000 | $478,793 | $8,737 | 5.80% |
| VA | 7 | $3,605,000 | $515,000 | $5,491 | 5.86% |
| FHA | 3 | $1,185,000 | $395,000 | $15,001 | 6.46% |
For 2023, Home Mortgage Alliance's most frequently originated type of loan was Conventional, with 29 originations. Their 2nd most popular type was VA, with 7 originations.
Loan Reason
For 2023, Home Mortgage Alliance's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 39 | $18,675,000 | $478,846 | $8,631 | 5.86% |
For 2023, Home Mortgage Alliance's most frequently cited loan duration was 30 Year, with 39 originations.
Origination Fees/Closing Costs
Home Mortgage Alliance's average total fees were $8,631, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 21 | $9,635,000 | $458,810 |
| 5-6% | 14 | $8,130,000 | $580,714 |
| <2.5% | 2 | $30,000 | $15,000 |
| 7-8% | 2 | $880,000 | $440,000 |
During 2023, Home Mortgage Alliance's average interest rate for loans was 5.86%, while their most frequently originated rate bucket for loans was 6-7%, with 21 originations.
Loan Sizing
2023 saw Home Mortgage Alliance place emphasis on $400k-600k loans with 21 originations, totaling $10,315,000 in origination value.
Applicant Income
Home Mortgage Alliance lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
Home Mortgage Alliance lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 38%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.64%
Home Mortgage Alliance has an average approval rate.
Pick Rate
Approvals leading to origination64.10%
Home Mortgage Alliance 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 | 39 | $18,675,000 | $478,846 |