Equitable Home Mortgage Rates, Fees & Info
PHOENIX, AZLEI: 549300B8FO8HQHJB6633
Tax ID: 86-0716784
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Mortgage Data
Review & Overview
Equitable Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. Equitable Home Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Phoenix, Los Angeles, San Diego, Riverside, and Flagstaff among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Equitable Home Mortgage 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. Equitable Home Mortgage 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/12/24 |
| 30 Year Conventional Refi | 6.27% | 4/12/24 |
| 30 Year Cash-out Refi | 6.27% | 4/12/24 |
| 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. | ||
Equitable Home Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
418Origination Dollar Volume (All Markets)
$276,780,000Top 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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 391 | $248,225,000 | $634,847 | $7,973 | 4.94% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 10 | $16,430,000 | $1,643,000 | $13,580 | 5.05% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $4,000,000 | $2,000,000 | $25,115 | 5.93% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 5 | $2,305,000 | $461,000 | $5,390 | 4.78% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 3 | $1,575,000 | $525,000 | $5,794 | 4.75% |
| Outside of Metro Areas | 1 | $1,005,000 | $1,005,000 | $0 | 3.88% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $12,432 | 5.25% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,499 | 4.56% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $11,524 | 7.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $4,019 | 5.25% |
| Payson, AZ (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,812 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against EQUITABLE HOME MORTGAGE 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 412 | $275,150,000 | $667,840 | $8,209 | 4.95% |
| FHA | 3 | $645,000 | $215,000 | $4,140 | 4.88% |
| VA | 3 | $985,000 | $328,333 | $6,743 | 4.63% |
For 2018, Equitable Home Mortgage's most frequently originated type of loan was Conventional, with 412 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
For 2018, Equitable Home Mortgage's most frequently cited loan purpose was Home Purchase, with 286 originations. The 2nd most popular reason was Cash Out Refi, with 74 originations.
Loan Duration/Length
For 2018, Equitable Home Mortgage's most frequently cited loan duration was 30 Year, with 402 originations. The 2nd most popular length was 15 Year, with 8 originations.
Origination Fees/Closing Costs
Equitable Home Mortgage's average total fees were $8,265, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 64 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 181 | $95,605,000 | $528,204 |
| 5-6% | 70 | $50,440,000 | $720,571 |
| 3-4% | 60 | $52,680,000 | $878,000 |
| 6-7% | 29 | $22,035,000 | $759,828 |
| 7-8% | 17 | $10,435,000 | $613,824 |
During 2018, Equitable Home Mortgage's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 4-5%, with 181 originations.
Loan Sizing
2018 saw Equitable Home Mortgage place emphasis on $200k-400k loans with 120 originations, totaling $35,570,000 in origination value.
Applicant Income
Equitable Home Mortgage lent most frequently to those with incomes in the $250k+ range, with 173 originations. The second most popular income band? $150k-250k, with 95 originations.
Applicant Debt to Income Ratio
Equitable Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.95%
Equitable Home Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination72.49%
Equitable Home Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 418 | $276,780,000 | $662,153 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 418 | $276,780,000 | $662,153 |