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, Cash Out Refi, and 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: Riverside, Las Vegas, Seattle, Los Angeles, and San Francisco among others. We have data for 25 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.40% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 7.11% | 11/21/24 |
| 30 Year FHA Purchase | 7.70% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 6.53% | 11/21/24 |
| 15 Year Conventional Purchase | 6.33% | 11/21/24 |
| 15 Year Conventional Refi | 6.74% | 11/21/24 |
| 15 Year Cash-out Refi | 6.74% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
271Origination Dollar Volume (All Markets)
$72,765,000Top 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 |
|---|---|---|---|---|---|
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 94 | $25,720,000 | $273,617 | $8,573 | 4.43% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 111 | $25,715,000 | $231,667 | $7,209 | 4.35% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 11 | $3,815,000 | $346,818 | $9,399 | 4.34% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 10 | $3,510,000 | $351,000 | $8,815 | 4.59% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $2,630,000 | $438,333 | $12,933 | 4.10% |
| VALLEJO, CA (FHA|USDA|VA) | 4 | $1,550,000 | $387,500 | $12,665 | 4.50% |
| FRESNO, CA (FHA|USDA|VA) | 6 | $1,390,000 | $231,667 | $7,935 | 4.69% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $7,912 | 3.63% |
| NAPA, CA (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $7,496 | 4.69% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $17,872 | 4.06% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $8,922 | 4.29% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $6,498 | 4.59% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,661 | 4.06% |
| Fernley, NV (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $6,970 | 4.81% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,471 | 3.63% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $13,940 | 5.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,286 | 3.75% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $11,887 | 4.00% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,211 | 4.88% |
| MADERA, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,177 | 5.63% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,752 | 4.63% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,719 | 4.38% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,976 | 4.13% |
| Outside of Metro Areas | 1 | $175,000 | $175,000 | $3,106 | 4.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,200 | 3.99% |
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 2019, Home Funding Corporation's most frequently originated type of loan was Conventional, with 149 originations. Their 2nd most popular type was FHA, with 109 originations.
Loan Reason
For 2019, Home Funding Corporation's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Cash Out Refi, with 80 originations.
Loan Duration/Length
For 2019, Home Funding Corporation's most frequently cited loan duration was 30 Year, with 253 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
Home Funding Corporation's average total fees were $8,306, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 81 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 140 | $35,940,000 | $256,714 |
| 3-4% | 86 | $24,750,000 | $287,791 |
| 5-6% | 38 | $9,900,000 | $260,526 |
| 2.5-3% | 3 | $965,000 | $321,667 |
| 6-7% | 2 | $540,000 | $270,000 |
During 2019, Home Funding Corporation's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 140 originations.
Loan Sizing
2019 saw Home Funding Corporation place emphasis on $200k-400k loans with 172 originations, totaling $48,310,000 in origination value.
Applicant Income
Home Funding Corporation lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $50k or less, with 70 originations.
Applicant Debt to Income Ratio
Home Funding Corporation lent most frequently to those with DTI ratios of 50-60%, with 38 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.40%
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 origination56.83%
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 | 271 | $72,765,000 | $268,506 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $495,000 | $165,000 |
| Single Family (1-4 Units):Site-Built | 268 | $72,270,000 | $269,664 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Home Financial Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |