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.) 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.48% | 11/11/24 |
| 30 Year Conventional Refi | 6.36% | 11/11/24 |
| 30 Year Cash-out Refi | 6.56% | 11/11/24 |
| 30 Year FHA Purchase | 7.24% | 11/11/24 |
| 30 Year FHA Refi | 7.43% | 11/11/24 |
| 30 Year VA Purchase | 6.44% | 11/11/24 |
| 15 Year Conventional Purchase | 5.88% | 11/11/24 |
| 15 Year Conventional Refi | 5.78% | 11/11/24 |
| 15 Year Cash-out Refi | 5.78% | 11/11/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,039Origination Dollar Volume (All Markets)
$278,395,000Awards
HOME TOWN FUNDING - 2023
HOME TOWN FUNDING is a 2023 , due to their low .
For 2023, 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
6.68%.
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% |
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.
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Product Mix
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
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
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
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
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
2023 saw Home Town Funding place emphasis on $100k-200k loans with 417 originations, totaling $62,845,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.24%
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 origination90.38%
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 |