Home Town Funding Mortgage Rates, Fees & Info
CANANDAIGUA, NYLEI: 549300BRR67NLTQSBT29
Tax ID: 16-1237621
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Mortgage 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
2,601Origination Dollar Volume (All Markets)
$574,775,000Awards
HOME TOWN FUNDING - 2021
HOME TOWN FUNDING is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications95.22%
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 origination92.45%
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% |
