Home Town Funding Mortgage Rates, Fees & Info

CANANDAIGUA, NY

LEI: 549300BRR67NLTQSBT29

Tax ID: 16-1237621

5 stars - Updated: 6/23/24 - out of 5 stars, based on 32 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Rochester, Naples, Miami, Buffalo, and Corning among others. We have data for 50 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 relatively high 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 6.48% 6/23/24
30 Year Conventional Refi 6.36% 6/23/24
30 Year Cash-out Refi 6.56% 6/23/24
30 Year FHA Purchase 7.24% 6/23/24
30 Year FHA Refi 7.43% 6/23/24
30 Year VA Purchase 6.44% 6/23/24
15 Year Conventional Purchase 5.88% 6/23/24
15 Year Conventional Refi 5.78% 6/23/24
15 Year Cash-out Refi 5.78% 6/23/24
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 Town Funding Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Home Town Funding. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,039

Origination Dollar Volume (All Markets)

$278,395,000

Awards

HOME TOWN FUNDING 30 Year Conventional Loans gold HOME TOWN FUNDING 30 Year Conventional Loans bronze HOME TOWN FUNDING FHA Loans gold
Show all (3) awards

Relative Rate

Home Town Funding's average 30 year fixed mortgage rate was 6.68%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.2%.

Relative Fees (Closing Costs)

Home Town Funding's average total fees/closing costs for a 30 year fixed rate mortgage were $3,634.

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 $9,089.

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) 866 $206,760,000 $238,753 $4,484 6.73%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $9,190,000 $4,595,000 $21,536 6.50%
Outside of Metro Areas 20 $7,420,000 $371,000 $6,156 6.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $7,190,000 $1,198,333 $14,656 6.79%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 26 $6,340,000 $243,846 $4,379 6.54%
Corning, NY (FHA|USDA|VA) 12 $4,700,000 $391,667 $5,660 6.65%
SYRACUSE, NY (FHA|USDA|VA) 21 $4,465,000 $212,619 $4,188 6.79%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $4,040,000 $673,333 $7,608 6.65%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $3,345,000 $1,115,000 $9,786 7.08%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $3,005,000 $601,000 $9,043 6.06%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $2,760,000 $690,000 $8,414 6.66%
UTICA-ROME, NY (FHA|USDA|VA) 9 $2,255,000 $250,556 $4,902 6.61%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,620,000 $405,000 $7,352 7.78%
Batavia, NY (FHA|USDA|VA) 7 $1,495,000 $213,571 $5,269 7.02%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $1,310,000 $655,000 $7,583 5.63%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 3 $1,005,000 $335,000 $5,767 6.88%
ASHEVILLE, NC (FHA|USDA|VA) 2 $920,000 $460,000 $7,225 5.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $685,000 $685,000 $6,899 8.00%
GAINESVILLE, FL (FHA|USDA|VA) 1 $655,000 $655,000 $11,601 6.00%
Olean, NY (FHA|USDA|VA) 3 $605,000 $201,667 $4,190 6.67%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $515,000 $515,000 $4,838 6.25%
Auburn, NY (FHA|USDA|VA) 1 $475,000 $475,000 $7,729 7.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $450,000 $225,000 $3,461 6.25%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $425,000 $425,000 $5,149 5.88%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $425,000 $425,000 $6,255 6.25%
Malone, NY (FHA|USDA|VA) 1 $425,000 $425,000 $3,920 7.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $415,000 $415,000 $18,811 7.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $415,000 $415,000 $8,833 6.88%
KINGSTON, NY (FHA|USDA|VA) 1 $355,000 $355,000 $6,404 8.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $335,000 $335,000 $4,193 6.50%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $325,000 $325,000 $2,297 6.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $325,000 $325,000 $7,584 6.63%
Ogdensburg-Massena, NY (FHA|USDA|VA) 2 $320,000 $160,000 $4,242 7.50%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $315,000 $315,000 $3,775 6.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $295,000 $295,000 $7,663 8.50%
ELMIRA, NY (FHA|USDA|VA) 5 $295,000 $59,000 $3,330 7.15%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $265,000 $265,000 $3,234 6.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $245,000 $245,000 $4,161 6.50%
BINGHAMTON, NY (FHA|USDA|VA) 1 $215,000 $215,000 $5,274 8.25%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $215,000 $215,000 $5,771 5.13%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $205,000 $205,000 $3,019 6.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $175,000 $175,000 $4,410 7.38%
SPARTANBURG, SC (FHA|USDA|VA) 1 $165,000 $165,000 $5,214 6.50%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,541 6.13%
GLENS FALLS, NY (FHA|USDA|VA) 1 $145,000 $145,000 $3,686 5.75%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $3,941 7.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $115,000 $115,000 $5,152 5.88%
Seneca Falls, NY (FHA|USDA|VA) 1 $105,000 $105,000 $4,155 7.75%
Oneonta, NY (FHA|USDA|VA) 1 $95,000 $95,000 $3,439 6.00%
Home Town Funding's top markets include Rochester, Naples, Miami, Buffalo, and Corning among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • 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.

    NIAGARA'S CHOICE
    Similarity Rank: 22
    Pittsford Federal Credit Union
    Similarity Rank: 34
    SEFCU SERVICES, LLC
    Similarity Rank: 168
    FAMILY FIRST OF NY
    Similarity Rank: 182
    THE SUMMIT Federal Credit Union
    Similarity Rank: 225
    ESL Federal Credit Union
    Similarity Rank: 240

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,021 $275,295,000 $269,633 $4,728 6.73%
    FHA 13 $2,175,000 $167,308 $5,647 6.42%
    VA 4 $840,000 $210,000 $5,945 6.88%
    USDA 1 $85,000 $85,000 $2,523 6.13%

    For 2023, Home Town Funding's most frequently originated type of loan was Conventional, with 1,021 originations. Their 2nd most popular type was FHA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 752 $199,330,000 $265,066 $4,523 6.72%
    Cash Out Refi 244 $67,580,000 $276,967 $5,535 6.80%
    Refi 43 $11,485,000 $267,093 $4,093 6.56%

    For 2023, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 752 originations. The 2nd most popular reason was Cash Out Refi, with 244 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 366 $78,120,000 $213,443 $3,634 6.68%
    3 Year 253 $47,605,000 $188,162 $4,978 7.24%
    5 Year 250 $80,790,000 $323,160 $5,186 6.29%
    10 Year 132 $58,670,000 $444,470 $6,112 6.85%
    Other 26 $10,640,000 $409,231 $7,269 6.56%
    15 Year 11 $2,335,000 $212,273 $3,251 5.89%
    20 Year 1 $235,000 $235,000 $4,612 6.13%

    For 2023, Home Town Funding's most frequently cited loan duration was 30 Year, with 366 originations. The 2nd most popular length was 3 Year, with 253 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 322 $86,500,000 $268,634
    $2k-3k 259 $54,815,000 $211,641
    $1k-2k 247 $35,175,000 $142,409
    $3k-4k 101 $33,685,000 $333,515
    $4k-5k 52 $24,230,000 $465,962
    $5k+ 45 $39,645,000 $881,000

    Home Town Funding's average total fees were $3,634, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 322 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 467 $134,235,000 $287,441
    7-8% 306 $71,450,000 $233,497
    5-6% 205 $53,585,000 $261,390
    Over 8% 47 $14,755,000 $313,936
    4-5% 10 $2,920,000 $292,000
    3-4% 3 $925,000 $308,333

    During 2023, Home Town Funding's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was 6-7%, with 467 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 417 $62,845,000 $150,707 $3,869 6.75%
    $200k-400k 363 $99,975,000 $275,413 $4,661 6.72%
    $100,000 or less 112 $8,300,000 $74,107 $3,262 6.81%
    $400k-600k 95 $45,875,000 $482,895 $7,173 6.57%
    $600k-1MM 35 $26,045,000 $744,143 $8,362 6.56%
    $1MM+ 17 $35,355,000 $2,079,706 $17,430 7.15%

    2023 saw Home Town Funding place emphasis on $100k-200k loans with 417 originations, totaling $62,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 190 $48,910,000 $257,421 $4,343 6.61%
    $50k-75k 160 $25,820,000 $161,375 $3,717 6.58%
    $75k-100k 153 $31,955,000 $208,856 $4,022 6.73%
    $150k-250k 138 $41,980,000 $304,203 $4,977 6.64%
    $250k+ 115 $75,545,000 $656,913 $7,299 6.74%
    $50k or less 98 $12,120,000 $123,673 $3,540 6.43%

    Home Town Funding lent most frequently to those with incomes in the $100k-150k range, with 190 originations. The second most popular income band? $50k-75k, with 160 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 146 $48,560,000 $332,603 $4,724 6.57%
    20-30% 114 $29,810,000 $261,491 $4,357 6.68%
    50-60% 57 $12,475,000 $218,860 $4,397 6.61%
    47% 51 $10,355,000 $203,039 $4,139 6.68%
    <20% 48 $12,920,000 $269,167 $4,408 6.45%
    43% 46 $11,280,000 $245,217 $4,473 6.62%
    48% 41 $14,645,000 $357,195 $5,610 6.81%
    44% 40 $8,440,000 $211,000 $4,331 6.68%
    49% 39 $10,595,000 $271,667 $4,445 6.59%
    46% 38 $8,980,000 $236,316 $4,415 6.58%
    37% 37 $8,415,000 $227,432 $3,919 6.60%
    45% 33 $9,325,000 $282,576 $4,234 6.37%
    40% 31 $12,815,000 $413,387 $5,755 6.56%
    41% 30 $8,590,000 $286,333 $4,675 6.63%
    42% 27 $6,355,000 $235,370 $4,573 6.61%
    36% 25 $5,865,000 $234,600 $4,327 6.79%
    38% 22 $4,930,000 $224,091 $3,674 6.76%
    39% 20 $9,750,000 $487,500 $7,123 6.80%
    >60% 6 $1,530,000 $255,000 $4,238 7.28%

    Home Town Funding lent most frequently to those with DTI ratios of 30-36%, with 146 originations. The next most common DTI ratio? 20-30%, with 114 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 756 $210,910,000 $278,981 $4,558 6.61%
    Not applicable 184 $41,820,000 $227,283 $5,517 7.21%
    Asian 45 $15,255,000 $339,000 $5,388 6.63%
    Not provided 23 $5,465,000 $237,609 $4,189 6.62%
    Black 30 $4,770,000 $159,000 $4,217 7.01%
    Samoan 1 $175,000 $175,000 $2,400 6.50%

    Approval Rates

    Total approvals of all applications
    96.24%

    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 origination
    90.38%

    Home Town Funding has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,039 $278,395,000 $267,945

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,039 $278,395,000 $267,945

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $6,205,000 $167,703 $3,655 6.37%
    40-60% 75 $19,405,000 $258,733 $4,586 6.39%
    60-80% 404 $109,410,000 $270,817 $4,758 6.83%
    80-100% 521 $142,765,000 $274,021 $4,827 6.73%
    Over 100% 1 $155,000 $155,000 $4,398 4.25%