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 and Refi loans. Equitable Home Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, San Diego, Flagstaff, Prescott Valley, and Los Angeles among others. We have data for 13 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 a low 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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Originations
397Origination Dollar Volume (All Markets)
$242,195,000Top 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) | 369 | $224,555,000 | $608,550 | $6,415 | 3.76% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $3,955,000 | $1,318,333 | $7,352 | 3.08% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 6 | $3,350,000 | $558,333 | $8,217 | 4.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $2,460,000 | $615,000 | $5,748 | 3.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,435,000 | $478,333 | $5,468 | 3.04% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $1,305,000 | $1,305,000 | $12,810 | 3.38% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $11,218 | 3.50% |
| Hailey, ID (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $4,870 | 3.38% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,254 | 3.17% |
| Payson, AZ (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $4,633 | 2.87% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,654 | 3.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,993 | 2.88% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,460 | 3.38% |
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 | 396 | $242,090,000 | $611,338 | $6,397 | 3.74% |
| HELOC | 1 | $105,000 | $105,000 | n/a | 4.49% |
For 2020, Equitable Home Mortgage's most frequently originated type of loan was Conventional, with 396 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2020, Equitable Home Mortgage's most frequently cited loan purpose was Home Purchase, with 240 originations. The 2nd most popular reason was Refi, with 115 originations.
Loan Duration/Length
For 2020, Equitable Home Mortgage's most frequently cited loan duration was 30 Year, with 370 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
Equitable Home Mortgage's average total fees were $6,292, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 293 originations.
Interest Rates
During 2020, Equitable Home Mortgage's average interest rate for loans was 3.67%, while their most frequently originated rate bucket for loans was 3-4%, with 208 originations.
Loan Sizing
2020 saw Equitable Home Mortgage place emphasis on $400k-600k loans with 133 originations, totaling $64,455,000 in origination value.
Applicant Income
Equitable Home Mortgage lent most frequently to those with incomes in the $250k+ range, with 139 originations. The second most popular income band? $150k-250k, with 92 originations.
Applicant Debt to Income Ratio
Equitable Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? <20%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.94%
Equitable Home Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination63.48%
Equitable Home Mortgage 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 |
|---|---|---|---|
| 0.0 | 2 | $300,000 | $150,000 |
| 350.0 | 1 | $105,000 | $105,000 |
| 4435.0 | 1 | $515,000 | $515,000 |
| 5130.0 | 1 | $195,000 | $195,000 |
| NA | 392 | $241,080,000 | $615,000 |