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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Las Vegas, Riverside, Los Angeles, Denver, and San Francisco among others. We have data for 33 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.27% | 4/18/24 |
| 30 Year Cash-out Refi | 7.11% | 4/18/24 |
| 30 Year FHA Purchase | 7.70% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.53% | 4/18/24 |
| 15 Year Conventional Purchase | 6.33% | 4/18/24 |
| 15 Year Conventional Refi | 6.74% | 4/18/24 |
| 15 Year Cash-out Refi | 6.74% | 4/18/24 |
| 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
429Origination Dollar Volume (All Markets)
$131,175,000Top 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) | 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% |
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Product Mix
For 2021, Home Funding Corporation's most frequently originated type of loan was Conventional, with 314 originations. Their 2nd most popular type was FHA, with 103 originations.
Loan Reason
For 2021, Home Funding Corporation's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Cash Out Refi, with 138 originations.
Loan Duration/Length
For 2021, Home Funding Corporation's most frequently cited loan duration was 30 Year, with 401 originations. The 2nd most popular length was 15 Year, with 14 originations.
Origination Fees/Closing Costs
Home Funding Corporation's average total fees were $8,299, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 145 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 for loans was 3.30%, while their most frequently originated rate bucket for loans was 3-4%, with 261 originations.
Loan Sizing
2021 saw Home Funding Corporation place emphasis on $200k-400k loans with 245 originations, totaling $70,785,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.57%
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 origination76.46%
Home Funding Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 429 | $131,175,000 | $305,769 |
LTV Distribution
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% |