Home Funding Corporation Mortgage Rates, Fees & Info
LAS VEGAS, NVLEI: 549300B4JDSKWJR1NR35
Tax ID: 88-0508228
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Mortgage Data
Review & Overview
Home Funding Corporation is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Home Funding Corporation has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Las Vegas, Riverside, Fresno, Seattle, and San Francisco among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Home Funding Corporation 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 Funding Corporation is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.40% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 7.11% | 4/21/24 |
| 30 Year FHA Purchase | 7.70% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.53% | 4/21/24 |
| 15 Year Conventional Purchase | 6.33% | 4/21/24 |
| 15 Year Conventional Refi | 6.74% | 4/21/24 |
| 15 Year Cash-out Refi | 6.74% | 4/21/24 |
| 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 Funding Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Home Funding Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
288Origination Dollar Volume (All Markets)
$69,440,000Top 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 |
|---|---|---|---|---|---|
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 136 | $31,270,000 | $229,926 | $6,294 | 5.21% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 65 | $15,715,000 | $241,769 | $8,084 | 5.14% |
| FRESNO, CA (FHA|USDA|VA) | 43 | $9,205,000 | $214,070 | $7,462 | 5.05% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 17 | $5,515,000 | $324,412 | $11,419 | 5.17% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $2,080,000 | $346,667 | $9,986 | 5.10% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5 | $1,155,000 | $231,000 | $8,487 | 5.10% |
| MADERA, CA (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $8,380 | 5.19% |
| VALLEJO, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $12,342 | 4.94% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $8,458 | 4.38% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $8,288 | 5.25% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $12,791 | 5.13% |
| NAPA, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $10,008 | 5.25% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $11,198 | 5.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,417 | 6.00% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,965 | 5.25% |
| Outside of Metro Areas | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,327 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against HOME FUNDING CORPORATION 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
For 2018, Home Funding Corporation's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was FHA, with 99 originations.
Loan Reason
For 2018, Home Funding Corporation's most frequently cited loan purpose was Home Purchase, with 194 originations. The 2nd most popular reason was Cash Out Refi, with 69 originations.
Loan Duration/Length
For 2018, Home Funding Corporation's most frequently cited loan duration was 30 Year, with 274 originations. The 2nd most popular length was Other, with 6 originations.
Origination Fees/Closing Costs
Home Funding Corporation's average total fees were $7,475, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 102 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 136 | $32,800,000 | $241,176 |
| 5-6% | 129 | $30,515,000 | $236,550 |
| 6-7% | 14 | $3,930,000 | $280,714 |
| 3-4% | 3 | $795,000 | $265,000 |
During 2018, Home Funding Corporation's average interest rate for loans was 5.18%, while their most frequently originated rate bucket for loans was 4-5%, with 136 originations.
Loan Sizing
2018 saw Home Funding Corporation place emphasis on $200k-400k loans with 171 originations, totaling $45,705,000 in origination value.
Applicant Income
Home Funding Corporation lent most frequently to those with incomes in the $50k-75k range, with 114 originations. The second most popular income band? $50k or less, with 66 originations.
Applicant Debt to Income Ratio
Home Funding Corporation lent most frequently to those with DTI ratios of 50-60%, with 32 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.29%
Home Funding Corporation has an average approval rate.
Pick Rate
Approvals leading to origination35.07%
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 | 288 | $69,440,000 | $241,111 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $720,000 | $180,000 |
| Single Family (1-4 Units):Site-Built | 284 | $68,720,000 | $241,972 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Home Point Financial Corporation | VA mortgage | Trouble during payment process | 8 | 6.2% |
| Home Point Financial Corporation | FHA mortgage | Struggling to pay mortgage | 7 | 5.4% |
| Home Point Financial Corporation | FHA mortgage | Trouble during payment process | 19 | 14.6% |
| Home Point Financial Corporation | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.8% |
| Home Point Financial Corporation | Other type of mortgage | Struggling to pay mortgage | 3 | 2.3% |
| Home Point Financial Corporation | Other type of mortgage | Trouble during payment process | 7 | 5.4% |
| Home Point Financial Corporation | Reverse mortgage | Trouble during payment process | 1 | 0.8% |
| Home Point Financial Corporation | VA mortgage | Struggling to pay mortgage | 3 | 2.3% |
| Home Point Financial Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 2.3% |
| Home Point Financial Corporation | Conventional home mortgage | Closing on a mortgage | 1 | 0.8% |
| Home Point Financial Corporation | Conventional home mortgage | Incorrect information on your report | 6 | 4.6% |
| Home Point Financial Corporation | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.8% |
| Home Point Financial Corporation | Conventional home mortgage | Struggling to pay mortgage | 8 | 6.2% |
| Home Point Financial Corporation | Conventional home mortgage | Trouble during payment process | 58 | 44.6% |
| Home Point Financial Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 1.5% |
| Home Point Financial Corporation | FHA mortgage | Closing on a mortgage | 1 | 0.8% |
| Home Point Financial Corporation | FHA mortgage | Incorrect information on your report | 1 | 0.8% |