Home Funding Corporation Mortgage Rates, Fees & Info
LAS VEGAS, NVLEI: 549300B4JDSKWJR1NR35
Tax ID: 88-0508228
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Home Funding Corporation is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Home Funding Corporation 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 include Las Vegas, Riverside, Los Angeles, Denver, and San Francisco among others. Home Funding Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Home Funding Corporation is typically a high fee lendor.Originations
429Origination Dollar Volume (All Markets)
$131,175,000Relative Rate
Home Funding Corporation's average 30 year fixed rate mortgage of loans were
3.3%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.15%.
Relative Fees
Home Funding Corporation's average total fees for a 30 year fixed rate
mortgage are $8,299.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 163 | $41,325,000 | $253,528 | $6,312 | 3.30% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 124 | $38,880,000 | $313,548 | $8,821 | 3.21% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 39 | $18,095,000 | $463,974 | $9,929 | 3.23% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 12 | $5,260,000 | $438,333 | $10,930 | 3.50% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 11 | $4,035,000 | $366,818 | $12,385 | 3.53% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 10 | $3,990,000 | $399,000 | $9,398 | 3.19% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 18 | $3,750,000 | $208,333 | $8,624 | 3.12% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 7 | $1,945,000 | $277,857 | $5,175 | 3.27% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $11,074 | 3.31% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $1,820,000 | $455,000 | $10,355 | 3.34% |
| Outside of Metro Areas | 2 | $900,000 | $450,000 | $15,221 | 3.19% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $10,336 | 3.04% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $8,123 | 3.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $12,337 | 3.25% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $6,429 | 3.00% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $5,706 | 3.19% |
| NAPA, CA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $17,181 | 3.00% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $7,873 | 3.00% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $16,173 | 3.63% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,137 | 3.63% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,837 | 2.99% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $13,554 | 2.88% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,966 | 3.50% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $6,998 | 4.00% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $12,580 | 2.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,088 | 2.75% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,735 | 3.25% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,764 | 3.63% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,709 | 3.63% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,368 | 4.13% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,691 | 2.75% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,699 | 2.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,740 | 2.50% |
Home Funding Corporation's top markets include Las Vegas, Riverside, Los Angeles, Denver, and San Francisco among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 314 | $92,200,000 | $293,631 | $6,487 | 3.29% |
| FHA | 103 | $34,585,000 | $335,777 | $12,731 | 3.25% |
| VA | 11 | $4,285,000 | $389,545 | $10,479 | 2.72% |
| USDA | 1 | $105,000 | $105,000 | $5,989 | 3.00% |
For the 2021 period, Home Funding Corporation's most frequently originated loan type of loans were Conventional, with 314 originations. Their 2nd most popular type is FHA, with 103 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 180 | $59,610,000 | $331,167 | $10,032 | 3.31% |
| Cash Out Refi | 138 | $40,960,000 | $296,812 | $7,269 | 3.37% |
| Refi | 111 | $30,605,000 | $275,721 | $5,931 | 3.06% |
For the 2021, Home Funding Corporation's most frequently cited loan purpose of loans were Home Purchase, with 180 originations. The 2nd most popular reason of loans were Cash Out Refi, with 138 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 401 | $125,385,000 | $312,681 | $8,299 | 3.30% |
| 15 Year | 14 | $2,930,000 | $209,286 | $5,137 | 2.69% |
| 20 Year | 7 | $1,295,000 | $185,000 | $4,758 | 3.12% |
| 10 Year | 5 | $995,000 | $199,000 | $4,608 | 2.55% |
| Other | 2 | $570,000 | $285,000 | $6,452 | 2.81% |
For the 2021, Home Funding Corporation's most frequently cited loan length of loans were 30 Year, with 401 originations. The 2nd most popular length of loans were 15 Year, with 14 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 208 | $64,040,000 | $307,885 |
| $5k+ | 106 | $43,620,000 | $411,509 |
| $2k-3k | 99 | $18,915,000 | $191,061 |
| $<1k | 9 | $2,725,000 | $302,778 |
| $1k-2k | 2 | $440,000 | $220,000 |
$8,299 of loans were Home Funding Corporation's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 208 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 261 | $80,045,000 | $306,686 |
| 2.5-3% | 121 | $35,995,000 | $297,479 |
| <2.5% | 24 | $7,460,000 | $310,833 |
| 4-5% | 21 | $7,005,000 | $333,571 |
| 5-6% | 2 | $670,000 | $335,000 |
During 2021, Home Funding Corporation's average interest rate of loans were 3.30%, while their most frequently originated rate bucket of loans were 3-4%, with 261 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 245 | $70,785,000 | $288,918 | $7,673 | 3.29% |
| $100k-200k | 93 | $14,805,000 | $159,194 | $5,317 | 3.20% |
| $400k-600k | 74 | $34,970,000 | $472,568 | $11,582 | 3.25% |
| $600k-1MM | 13 | $9,245,000 | $711,154 | $14,933 | 3.40% |
| $100,000 or less | 3 | $275,000 | $91,667 | $3,943 | 3.04% |
| $1MM+ | 1 | $1,095,000 | $1,095,000 | $33,420 | 3.13% |
2021 saw Home Funding Corporation place emphasis on $200k-400k loans with 245 originations, totaling $70,785,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 147 | $38,235,000 | $260,102 | $7,206 | 3.29% |
| $50k or less | 91 | $19,185,000 | $210,824 | $5,979 | 3.14% |
| $75k-100k | 84 | $28,710,000 | $341,786 | $9,444 | 3.30% |
| $100k-150k | 68 | $27,260,000 | $400,882 | $10,246 | 3.34% |
| $150k-250k | 35 | $15,515,000 | $443,286 | $9,221 | 3.29% |
| $250k+ | 4 | $2,270,000 | $567,500 | $12,050 | 3.03% |
Home Funding Corporation lent most frequently to those with incomes in the $50k-75k range, with 147 originations. The second most popular income band? $50k or less, with 91 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 57 | $17,315,000 | $303,772 | $8,026 | 3.24% |
| 20-30% | 46 | $11,890,000 | $258,478 | $6,465 | 3.20% |
| 50-60% | 30 | $11,240,000 | $374,667 | $13,775 | 3.14% |
| 44% | 29 | $8,525,000 | $293,966 | $7,574 | 3.33% |
| 38% | 26 | $8,670,000 | $333,462 | $7,955 | 3.32% |
| 41% | 25 | $8,275,000 | $331,000 | $8,416 | 3.27% |
| 43% | 24 | $7,930,000 | $330,417 | $7,190 | 3.31% |
| 46% | 24 | $9,070,000 | $377,917 | $9,063 | 3.32% |
| 42% | 22 | $7,280,000 | $330,909 | $7,550 | 3.35% |
| 49% | 21 | $5,785,000 | $275,476 | $7,124 | 3.28% |
| 48% | 20 | $5,970,000 | $298,500 | $9,149 | 3.28% |
| 39% | 20 | $5,170,000 | $258,500 | $7,735 | 3.23% |
| <20% | 17 | $4,655,000 | $273,824 | $5,653 | 3.02% |
| 47% | 17 | $4,135,000 | $243,235 | $7,844 | 3.28% |
| 36% | 17 | $5,385,000 | $316,765 | $8,041 | 3.17% |
| 45% | 15 | $4,635,000 | $309,000 | $8,888 | 3.39% |
| 40% | 13 | $3,475,000 | $267,308 | $6,843 | 3.45% |
| 37% | 5 | $1,365,000 | $273,000 | $5,888 | 3.17% |
Home Funding Corporation lent most frequently to those with DTI ratios of 30-36%, with 57 originations. The next most common DTI ratio? 20-30%, with 46 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 320 | $93,050,000 | $290,781 | $7,706 | 3.24% |
| Asian | 42 | $16,170,000 | $385,000 | $9,001 | 3.37% |
| Black | 49 | $15,895,000 | $324,388 | $9,873 | 3.27% |
| Native Hawaiian | 5 | $1,725,000 | $345,000 | $7,907 | 3.30% |
| American Indian | 4 | $1,390,000 | $347,500 | $6,925 | 3.25% |
| Filipino | 4 | $1,350,000 | $337,500 | $11,614 | 3.31% |
| Asian Indian | 3 | $1,075,000 | $358,333 | $6,629 | 3.00% |
| Not provided | 2 | $520,000 | $260,000 | $5,118 | 4.81% |
Approval Rates
Total approvals of all applications95.56%
Home Funding Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination64.36%
Home Funding Corporation 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 | 429 | $131,175,000 | $305,769 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 429 | $131,175,000 | $305,769 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 20 | $3,600,000 | $180,000 | $4,750 | 3.02% |
| 40-60% | 62 | $15,110,000 | $243,710 | $5,919 | 3.19% |
| 60-80% | 166 | $50,600,000 | $304,819 | $7,035 | 3.33% |
| 80-100% | 178 | $61,030,000 | $342,865 | $10,094 | 3.27% |
| Over 100% | 1 | $605,000 | $605,000 | $31,285 | 3.25% |
| Under 20% | 2 | $230,000 | $115,000 | $3,928 | 2.56% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Home Point Financial Corporation | VA mortgage | Trouble during payment process | 13 | 9.5% |
| Home Point Financial Corporation | FHA mortgage | Trouble during payment process | 12 | 8.8% |
| Home Point Financial Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.7% |
| Home Point Financial Corporation | VA mortgage | Struggling to pay mortgage | 10 | 7.3% |
| Home Point Financial Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 12 | 8.8% |
| Home Point Financial Corporation | Conventional home mortgage | Closing on a mortgage | 2 | 1.5% |
| Home Point Financial Corporation | Conventional home mortgage | Incorrect information on your report | 2 | 1.5% |
| Home Point Financial Corporation | Conventional home mortgage | Struggling to pay mortgage | 8 | 5.8% |
| Home Point Financial Corporation | Conventional home mortgage | Trouble during payment process | 56 | 40.9% |
| Home Point Financial Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 10 | 7.3% |
| Home Point Financial Corporation | FHA mortgage | Closing on a mortgage | 1 | 0.7% |
| Home Point Financial Corporation | FHA mortgage | Improper use of your report | 1 | 0.7% |
| Home Point Financial Corporation | FHA mortgage | Incorrect information on your report | 1 | 0.7% |
| Home Point Financial Corporation | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 3 | 2.2% |
| Home Point Financial Corporation | FHA mortgage | Struggling to pay mortgage | 5 | 3.6% |
