Eureka Homestead Mortgage Rates, Fees & Info

Metairie, LA

LEI: 549300B1HO0P8G3WYQ31

Tax ID: 72-0180310

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Eureka Homestead is a smaller mortgage company specializing in Home Purchase loans. Eureka Homestead has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Baton Rouge, Gulfport, Tampa, and Hammond among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Eureka Homestead 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. Eureka Homestead is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.48% 5/4/24
    30 Year Conventional Refi 6.55% 5/4/24
    30 Year Cash-out Refi 6.61% 5/4/24
    15 Year Conventional Refi 6.03% 5/4/24
    15 Year Cash-out Refi 6.03% 5/4/24
    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.

    Eureka Homestead Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Eureka Homestead. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    86

    Origination Dollar Volume (All Markets)

    $30,310,000

    Awards

    Eureka Homestead 30 Year Conventional Loans silver
    Show all (1) awards

    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
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 78 $27,270,000 $349,615 $4,461 4.78%
    BATON ROUGE, LA (FHA|USDA|VA) 4 $1,190,000 $297,500 $4,115 4.56%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $1,190,000 $595,000 $4,442 5.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $495,000 $495,000 $9,754 4.63%
    HAMMOND, LA (FHA|USDA|VA) 1 $165,000 $165,000 $3,400 4.63%
    Eureka Homestead's top markets include New Orleans, Baton Rouge, Gulfport, Tampa, and Hammond among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Eureka Homestead based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Jefferson Parish Employees FCU
    Similarity Rank: 90
    JEFFERSON FINANCIAL
    Similarity Rank: 169
    Eureka Homestead
    Similarity Rank: 295
    America's Mortgage Resource, Inc.
    Similarity Rank: 570
    GREATER NEW ORLEANS
    Similarity Rank: 726
    FBT Mortgage, L.L.C.
    Similarity Rank: 780
    Home Bank
    Similarity Rank: 810
    THE NEW ORLEANS FIREMEN'S FEDERAL CREDIT UNION
    Similarity Rank: 917
    KEESLER
    Similarity Rank: 1302
    DSLD MORTGAGE, LLC
    Similarity Rank: 1615

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $30,310,000 $352,442 $4,494 4.77%

    For 2022, Eureka Homestead's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 58 $22,580,000 $389,310 $4,777 4.98%
    Cash Out Refi 22 $4,990,000 $226,818 $3,732 4.35%
    Refi 5 $1,615,000 $323,000 $3,634 3.90%
    Other 1 $1,125,000 $1,125,000 $9,140 6.25%

    For 2022, Eureka Homestead's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 74 $26,780,000 $361,892 $4,520 4.77%
    15 Year 7 $705,000 $100,714 $2,647 4.73%
    20 Year 2 $390,000 $195,000 $3,207 3.18%
    30+ year 2 $1,350,000 $675,000 $8,217 6.44%
    Other 1 $1,085,000 $1,085,000 $10,643 5.00%

    For 2022, Eureka Homestead's most frequently cited loan duration was 30 Year, with 74 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 67 $23,095,000 $344,701
    $2k-3k 11 $4,075,000 $370,455
    $3k-4k 3 $1,765,000 $588,333
    $4k-5k 2 $830,000 $415,000
    $<1k 1 $35,000 $35,000
    $5k+ 1 $495,000 $495,000

    Eureka Homestead's average total fees were $4,520, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 67 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 27 $8,755,000 $324,259
    5-6% 22 $7,790,000 $354,091
    4-5% 18 $7,870,000 $437,222
    6-7% 12 $3,870,000 $322,500
    2.5-3% 5 $1,385,000 $277,000
    7-8% 2 $640,000 $320,000

    During 2022, Eureka Homestead's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 3-4%, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 45 $12,805,000 $284,556 $4,233 4.87%
    $400k-600k 14 $6,700,000 $478,571 $5,408 5.06%
    $100k-200k 12 $1,790,000 $149,167 $3,366 3.97%
    $600k-1MM 9 $6,585,000 $731,667 $5,782 4.39%
    $100,000 or less 4 $220,000 $55,000 $2,007 5.59%
    $1MM+ 2 $2,210,000 $1,105,000 $9,892 5.63%

    2022 saw Eureka Homestead place emphasis on $200k-400k loans with 45 originations, totaling $12,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 19 $7,655,000 $402,895 $5,063 5.00%
    $250k+ 16 $9,300,000 $581,250 $5,088 5.12%
    $100k-150k 15 $3,765,000 $251,000 $3,974 4.41%
    $75k-100k 14 $3,630,000 $259,286 $4,058 4.67%
    $50k-75k 11 $3,045,000 $276,818 $4,352 4.74%
    $50k or less 7 $995,000 $142,143 $2,835 4.32%

    Eureka Homestead lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $250k+, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 22 $8,330,000 $378,636 $4,685 4.67%
    20-30% 22 $8,100,000 $368,182 $4,327 4.92%
    <20% 9 $3,245,000 $360,556 $4,694 4.11%
    37% 6 $1,830,000 $305,000 $5,111 4.89%
    41% 4 $890,000 $222,500 $3,840 4.34%
    44% 3 $1,035,000 $345,000 $5,020 5.58%
    39% 3 $1,235,000 $411,667 $4,386 4.42%
    36% 3 $1,385,000 $461,667 $4,880 6.08%
    42% 3 $925,000 $308,333 $3,901 5.58%
    49% 2 $760,000 $380,000 $4,574 4.25%
    38% 2 $630,000 $315,000 $4,471 4.44%
    40% 2 $530,000 $265,000 $3,352 6.69%
    43% 2 $630,000 $315,000 $4,030 4.81%
    48% 2 $530,000 $265,000 $4,156 3.50%
    46% 1 $255,000 $255,000 $4,206 3.50%

    Eureka Homestead lent most frequently to those with DTI ratios of 30-36%, with 22 originations. The next most common DTI ratio? 20-30%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 77 $27,435,000 $356,299 $4,479 4.72%
    Not applicable 4 $1,920,000 $480,000 $6,182 4.91%
    Black 5 $955,000 $191,000 $3,377 5.55%

    Approval Rates

    Total approvals of all applications
    97.96%

    Eureka Homestead 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
    89.53%

    Eureka Homestead has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 86 $30,310,000 $352,442

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    86 $30,310,000 $352,442

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,660,000 $276,667 $4,588 4.21%
    40-60% 6 $1,170,000 $195,000 $3,505 3.44%
    60-80% 25 $10,225,000 $409,000 $4,995 4.84%
    80-100% 44 $16,830,000 $382,500 $4,584 4.91%
    Under 20% 5 $425,000 $85,000 $2,265 5.55%