Home Town Funding Mortgage Rates, Fees & Info
CANANDAIGUA, NYLEI: 549300BRR67NLTQSBT29
Tax ID: 16-1237621
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Mortgage Data
Review & Overview
Home Town Funding is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Home Town Funding 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: Rochester, Corning, Naples, Buffalo, and New York among others. We have data for 41 markets. (Some data included below & more in-depth data is available with an active subscription.)Home Town Funding has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Home Town Funding 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.89% | 6/2/25 |
| 30 Year Conventional Refi | 6.41% | 6/2/25 |
| 30 Year Cash-out Refi | 6.63% | 6/2/25 |
| 30 Year FHA Purchase | 11.60% | 6/2/25 |
| 30 Year VA Purchase | 6.90% | 6/2/25 |
| 30 Year VA Refi | 6.72% | 6/2/25 |
| 15 Year Conventional Purchase | 6.10% | 6/2/25 |
| 15 Year Conventional Refi | 6.79% | 6/2/25 |
| 15 Year Cash-out Refi | 6.79% | 6/2/25 |
| 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 Town Funding Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,091Origination Dollar Volume (All Markets)
$296,615,000Awards
HOME TOWN FUNDING - 2024
HOME TOWN FUNDING is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Home Town Funding's average 30 year fixed mortgage rate was
6.54%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.01%.
Relative Fees (Closing Costs)
Home Town Funding's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,564.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
Top 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 |
|---|---|---|---|---|---|
| ROCHESTER, NY (FHA|USDA|VA) | 933 | $237,525,000 | $254,582 | $4,426 | 6.96% |
| Corning, NY (FHA|USDA|VA) | 25 | $8,025,000 | $321,000 | $5,137 | 7.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $6,465,000 | $2,155,000 | $38,435 | 7.79% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 24 | $5,890,000 | $245,417 | $3,862 | 6.89% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $5,375,000 | $1,075,000 | $9,090 | 7.70% |
| Outside of Metro Areas | 12 | $4,730,000 | $394,167 | $6,708 | 7.41% |
| Seneca Falls, NY (FHA|USDA|VA) | 10 | $4,690,000 | $469,000 | $6,557 | 7.01% |
| SYRACUSE, NY (FHA|USDA|VA) | 18 | $4,390,000 | $243,889 | $4,404 | 6.83% |
| Batavia, NY (FHA|USDA|VA) | 16 | $3,770,000 | $235,625 | $4,716 | 7.27% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $5,385 | 6.85% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $0 | 7.69% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $13,466 | 8.13% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $12,618 | 7.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 7.00% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $9,662 | 5.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $8,049 | 7.63% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $9,328 | 7.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $10,453 | 5.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $6,375 | 7.19% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $10,224 | 6.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $3,753 | 7.31% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $8,440 | 7.81% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,391 | 6.63% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,385 | 6.81% |
| OCALA, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,585 | 7.50% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,950 | 6.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,789 | 7.63% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $9,027 | 7.63% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,709 | 6.38% |
| UTICA-ROME, NY (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $3,843 | 7.04% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $7,283 | 7.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 7.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,953 | 6.63% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,113 | 7.25% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,621 | 7.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,844 | 6.38% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,730 | 6.38% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,964 | 6.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,568 | 7.75% |
| Auburn, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.50% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 7.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against HOME TOWN FUNDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 17
Similarity Rank: 20
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Similarity Rank: 80
Similarity Rank: 81
Similarity Rank: 144
Similarity Rank: 150
Similarity Rank: 160
Similarity Rank: 170
Similarity Rank: 189
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,062 | $290,300,000 | $273,352 | $4,605 | 7.00% |
| FHA | 21 | $3,735,000 | $177,857 | $5,719 | 6.35% |
| VA | 8 | $2,580,000 | $322,500 | $7,283 | 6.89% |
For 2024, Home Town Funding's most frequently originated type of loan was Conventional, with 1,062 originations. Their 2nd most popular type was FHA, with 21 originations.
Loan Reason
For 2024, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 795 originations. The 2nd most popular reason was Cash Out Refi, with 228 originations.
Loan Duration/Length
For 2024, Home Town Funding's most frequently cited loan duration was 30 Year, with 496 originations. The 2nd most popular length was 10 Year, with 252 originations.
Origination Fees/Closing Costs
Home Town Funding's average total fees were $3,564, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 372 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 526 | $138,810,000 | $263,897 |
| 7-8% | 426 | $117,770,000 | $276,455 |
| 5-6% | 81 | $19,115,000 | $235,988 |
| Over 8% | 57 | $20,705,000 | $363,246 |
| 4-5% | 1 | $215,000 | $215,000 |
During 2024, Home Town Funding's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 6-7%, with 526 originations.
Loan Sizing
2024 saw Home Town Funding place emphasis on $200k-400k loans with 439 originations, totaling $121,805,000 in origination value.
Applicant Income
Home Town Funding lent most frequently to those with incomes in the $100k-150k range, with 200 originations. The second most popular income band? $50k-75k, with 182 originations.
Applicant Debt to Income Ratio
Home Town Funding lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 146 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.23%
Home Town Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.94%
Home Town Funding has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,091 | $296,615,000 | $271,874 |