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

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

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Rochester, Buffalo, Los Angeles, Corning, and Syracuse among others. We have data for 75 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 an average 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 6.34% 1/29/23
    30 Year Conventional Refi 6.27% 1/29/23
    30 Year Cash-out Refi 6.46% 1/29/23
    30 Year FHA Purchase 7.06% 1/29/23
    30 Year FHA Refi 7.27% 1/29/23
    30 Year VA Purchase 6.14% 1/29/23
    30 Year VA Refi 5.87% 1/29/23
    30 Year USDA Purchase 6.44% 1/29/23
    15 Year Conventional Purchase 5.76% 1/29/23
    15 Year Conventional Refi 5.75% 1/29/23
    15 Year Cash-out Refi 5.75% 1/29/23
    15 Year FHA Refi 6.46% 1/29/23
    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.


    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 mortgage rate was 2.96%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.19%.

    Relative Fees (Closing Costs)

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

    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 $4,750.

    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) 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.

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

    Pittsford Federal Credit Union
    Similarity Rank: 52
    Elmira Savings Bank
    Similarity Rank: 195
    ONTARIO SHORES
    Similarity Rank: 235
    ESL Federal Credit Union
    Similarity Rank: 256
    VISIONS
    Similarity Rank: 260
    FAMILY FIRST OF NY
    Similarity Rank: 424

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Home Town Funding's most frequently originated type of loan was Conventional, with 2,508 originations. Their 2nd most popular type was FHA, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 1,268 originations. The 2nd most popular reason was 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 2021, Home Town Funding's most frequently cited loan duration was 30 Year, with 1,356 originations. The 2nd most popular length was 15 Year, with 522 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 76 $25,710,000 $338,289
    $5k+ 56 $51,790,000 $924,821
    $4k-5k 26 $12,330,000 $474,231

    Home Town Funding's average total fees were $3,124, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.96%, while their most frequently originated rate bucket for loans was 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
    95.16%

    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
    93.00%

    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%