Home Town Funding Mortgage Rates, Fees & Info

CANANDAIGUA, NY

LEI: 549300BRR67NLTQSBT29

Tax ID: 16-1237621

5 stars - out of 5 stars, based on 51 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Home Town Funding is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and 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 include Rochester, Buffalo, Los Angeles, Corning, and Syracuse among others. Home Town Funding has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Home Town Funding is typically a low fee lendor.


Originations

2,601

Origination Dollar Volume (All Markets)

$574,775,000
Show all (11) awards

Relative Rate

Home Town Funding 's average 30 year fixed rate mortgage of loans were 2.96%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.19%.

Relative Fees

Home Town Funding 's average total fees for a 30 year fixed rate mortgage are $3,124.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ROCHESTER, NY (FHA|USDA|VA) 2,282 $473,220,000 $207,371 $3,341 3.01%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 40 $8,490,000 $212,250 $3,375 3.13%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $6,985,000 $2,328,333 $11,236 3.17%
Corning, NY (FHA|USDA|VA) 26 $6,560,000 $252,308 $4,216 3.20%
Outside of Metro Areas 28 $6,340,000 $226,429 $3,677 3.01%
SYRACUSE, NY (FHA|USDA|VA) 24 $5,250,000 $218,750 $3,663 2.97%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 9 $5,095,000 $566,111 $8,579 3.11%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $5,065,000 $460,455 $6,169 3.13%
Seneca Falls, NY (FHA|USDA|VA) 12 $3,500,000 $291,667 $4,571 3.05%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $3,195,000 $456,429 $3,723 3.18%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $2,960,000 $1,480,000 $13,993 3.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $2,935,000 $587,000 $4,650 3.53%
UTICA-ROME, NY (FHA|USDA|VA) 10 $2,860,000 $286,000 $4,061 3.28%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $2,825,000 $313,889 $5,694 3.03%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $2,505,000 $835,000 $11,586 3.17%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $2,345,000 $2,345,000 $6,038 3.50%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $2,245,000 $449,000 $4,843 2.80%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,125,000 $236,111 $4,431 3.21%
Batavia, NY (FHA|USDA|VA) 13 $2,055,000 $158,077 $3,367 3.12%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $1,975,000 $282,143 $5,395 3.34%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $1,770,000 $442,500 $4,851 2.72%
Auburn, NY (FHA|USDA|VA) 7 $1,685,000 $240,714 $3,338 3.12%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $1,160,000 $580,000 $8,377 2.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $13,621 3.25%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $1,060,000 $265,000 $4,379 2.71%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $910,000 $455,000 $6,997 3.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $855,000 $285,000 $5,202 3.17%
Jackson, WY-ID (FHA|USDA|VA) 1 $755,000 $755,000 $9,315 3.25%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $725,000 $241,667 $5,293 3.51%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $715,000 $238,333 $4,960 3.46%
ASHEVILLE, NC (FHA|USDA|VA) 2 $710,000 $355,000 $4,457 2.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $680,000 $170,000 $3,194 3.32%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $665,000 $665,000 $9,378 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $635,000 $211,667 $3,515 2.71%
PITTSBURGH, PA (FHA|USDA|VA) 1 $615,000 $615,000 $9,997 3.25%
OCALA, FL (FHA|USDA|VA) 2 $610,000 $305,000 $5,034 3.41%
Ogdensburg-Massena, NY (FHA|USDA|VA) 3 $585,000 $195,000 $2,993 2.92%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $580,000 $290,000 $4,674 3.19%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 3 $575,000 $191,667 $3,533 2.88%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $535,000 $535,000 $2,718 3.38%
ELMIRA, NY (FHA|USDA|VA) 3 $535,000 $178,333 $4,377 2.92%
Olean, NY (FHA|USDA|VA) 2 $530,000 $265,000 $2,110 2.63%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $525,000 $525,000 $8,242 3.64%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $520,000 $260,000 $6,413 3.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $470,000 $235,000 $3,212 2.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $430,000 $215,000 $4,255 3.06%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 2 $420,000 $210,000 $4,641 3.61%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $415,000 $415,000 $2,641 3.13%
SPARTANBURG, SC (FHA|USDA|VA) 2 $360,000 $180,000 $3,572 3.00%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $355,000 $355,000 $4,697 2.38%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $345,000 $345,000 $3,055 3.13%
MONTGOMERY, AL (FHA|USDA|VA) 1 $345,000 $345,000 $6,589 3.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $345,000 $345,000 $2,202 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,737 3.00%
Bucyrus-Galion, OH (FHA|USDA|VA) 1 $305,000 $305,000 $5,067 3.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,665 2.13%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $275,000 $275,000 $3,127 3.25%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $255,000 $255,000 $3,134 2.88%
GLENS FALLS, NY (FHA|USDA|VA) 1 $225,000 $225,000 $4,808 4.50%
LAS CRUCES, NM (FHA|USDA|VA) 1 $195,000 $195,000 $8,878 3.00%
AKRON, OH (FHA|USDA|VA) 1 $195,000 $195,000 $2,687 2.75%
BRUNSWICK, GA (FHA|USDA|VA) 1 $195,000 $195,000 $4,318 3.75%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,733 3.60%
THE VILLAGES, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,058 3.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,330 2.88%
ITHACA, NY (FHA|USDA|VA) 1 $145,000 $145,000 $2,805 2.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,658 3.89%
Selinsgrove, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,806 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,274 2.75%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $105,000 $105,000 $2,542 3.38%
BINGHAMTON, NY (FHA|USDA|VA) 1 $105,000 $105,000 $4,139 2.38%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $85,000 $85,000 $2,883 2.75%
Oneonta, NY (FHA|USDA|VA) 1 $75,000 $75,000 $3,153 3.38%
MORRISTOWN, TN (FHA|USDA|VA) 1 $55,000 $55,000 $3,022 3.00%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $55,000 $55,000 $3,956 2.38%

Home Town Funding 's top markets include Rochester, Buffalo, Los Angeles, Corning, and Syracuse among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,508 $558,720,000 $222,775 $3,449 3.04%
FHA 61 $9,235,000 $151,393 $4,763 2.74%
VA 27 $6,115,000 $226,481 $4,452 2.67%
USDA 5 $705,000 $141,000 $3,276 2.65%

For the 2021 period, Home Town Funding 's most frequently originated loan type of loans were Conventional, with 2,508 originations. Their 2nd most popular type is FHA, with 61 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,268 $291,570,000 $229,945 $3,786 3.12%
Cash Out Refi 715 $154,655,000 $216,301 $3,566 3.19%
Refi 618 $128,550,000 $208,010 $2,794 2.63%

For the 2021, Home Town Funding 's most frequently cited loan purpose of loans were Home Purchase, with 1,268 originations. The 2nd most popular reason of loans were Cash Out Refi, with 715 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,356 $275,860,000 $203,437 $3,124 2.96%
15 Year 522 $98,580,000 $188,851 $2,777 2.38%
10 Year 209 $102,495,000 $490,407 $6,164 3.41%
3 Year 199 $30,065,000 $151,080 $4,468 4.41%
5 Year 177 $35,935,000 $203,023 $4,488 3.63%
20 Year 120 $24,330,000 $202,750 $2,768 2.77%
Other 18 $7,510,000 $417,222 $4,921 2.88%

For the 2021, Home Town Funding 's most frequently cited loan length of loans were 30 Year, with 1,356 originations. The 2nd most popular length of loans were 15 Year, with 522 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,775 $367,355,000 $206,961
$1k-2k 449 $72,295,000 $161,013
$2k-3k 219 $45,295,000 $206,826
$3k-4k 102 $38,040,000 $372,941
$5k+ 56 $51,790,000 $924,821

$3,124 of loans were Home Town Funding 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,775 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,003 $213,025,000 $212,388
3-4% 764 $208,200,000 $272,513
<2.5% 603 $115,185,000 $191,020
4-5% 224 $37,470,000 $167,277
5-6% 7 $895,000 $127,857

During 2021, Home Town Funding 's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,003 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 1,195 $175,575,000 $146,925 $3,092 3.02%
$200k-400k 828 $226,450,000 $273,490 $3,545 2.96%
$100,000 or less 365 $28,145,000 $77,110 $2,875 3.16%
$400k-600k 144 $69,450,000 $482,292 $4,879 3.01%
$600k-1MM 43 $31,635,000 $735,698 $8,678 3.29%
$1MM+ 26 $43,520,000 $1,673,846 $12,419 3.57%

2021 saw Home Town Funding place emphasis on $100k-200k loans with 1,195 originations, totaling $175,575,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 584 $127,110,000 $217,654 $3,185 2.92%
$50k-75k 506 $76,570,000 $151,324 $3,099 2.97%
$75k-100k 420 $78,280,000 $186,381 $3,163 2.99%
$150k-250k 391 $110,295,000 $282,084 $3,703 2.92%
$50k or less 320 $39,170,000 $122,406 $3,110 2.98%
$250k+ 241 $114,215,000 $473,921 $4,914 2.95%

Home Town Funding lent most frequently to those with incomes in the $100k-150k range, with 584 originations. The second most popular income band? $50k-75k, with 506 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 576 $133,150,000 $231,163 $3,320 2.88%
30-36% 492 $106,160,000 $215,772 $3,302 2.94%
<20% 243 $50,805,000 $209,074 $3,232 2.82%
43% 109 $23,775,000 $218,119 $3,864 3.20%
50-60% 108 $26,470,000 $245,093 $4,693 3.58%
44% 101 $22,015,000 $217,970 $3,562 3.16%
38% 96 $20,070,000 $209,063 $3,619 3.02%
40% 92 $21,200,000 $230,435 $3,626 3.00%
36% 88 $16,180,000 $183,864 $3,089 3.00%
45% 88 $19,270,000 $218,977 $3,419 3.16%
42% 86 $21,090,000 $245,233 $3,695 3.10%
39% 86 $17,810,000 $207,093 $3,576 3.19%
41% 84 $19,550,000 $232,738 $3,518 3.05%
46% 79 $15,455,000 $195,633 $3,678 3.25%
48% 70 $17,920,000 $256,000 $3,693 3.16%
37% 67 $15,535,000 $231,866 $3,620 3.11%
47% 65 $12,865,000 $197,923 $3,619 3.13%
49% 63 $13,245,000 $210,238 $3,617 3.20%
>60% 8 $2,210,000 $276,250 $4,860 3.75%

Home Town Funding lent most frequently to those with DTI ratios of 20-30%, with 576 originations. The next most common DTI ratio? 30-36%, with 492 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,223 $495,815,000 $223,039 $3,398 2.95%
Not applicable 139 $29,135,000 $209,604 $4,991 4.32%
Asian 106 $23,300,000 $219,811 $3,392 2.96%
Not provided 69 $16,125,000 $233,696 $3,788 3.05%
Black 54 $8,400,000 $155,556 $3,386 3.22%
American Indian 8 $1,640,000 $205,000 $2,715 2.67%
Asian Indian 1 $275,000 $275,000 $2,278 2.00%
Other Asian 1 $85,000 $85,000 $2,831 3.63%

Approval Rates

Total approvals of all applications
95.22%

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
92.45%

Home Town Funding has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,601 $574,775,000 $220,982

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,601 $574,775,000 $220,982

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 86 $11,670,000 $135,698 $2,757 2.53%
40-60% 386 $69,140,000 $179,119 $2,873 2.66%
60-80% 1,166 $239,990,000 $205,823 $3,221 3.08%
80-100% 955 $250,065,000 $261,848 $4,111 3.16%
Over 100% 3 $3,455,000 $1,151,667 $12,685 2.92%
Under 20% 5 $455,000 $91,000 $2,262 2.70%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HomeTown Lenders, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%