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.) Their top markets by origination volume include: Rochester, Buffalo, Miami, Corning, and Seneca Falls among others. We have data for 62 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 a below 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.48% | 9/25/23 |
| 30 Year Conventional Refi | 6.36% | 9/25/23 |
| 30 Year Cash-out Refi | 6.56% | 9/25/23 |
| 30 Year FHA Purchase | 7.24% | 9/25/23 |
| 30 Year FHA Refi | 7.43% | 9/25/23 |
| 30 Year VA Purchase | 6.44% | 9/25/23 |
| 15 Year Conventional Purchase | 5.88% | 9/25/23 |
| 15 Year Conventional Refi | 5.78% | 9/25/23 |
| 15 Year Cash-out Refi | 5.78% | 9/25/23 |
| 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. | ||
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
1,611Origination Dollar Volume (All Markets)
$404,455,000Awards
HOME TOWN FUNDING - 2022
HOME TOWN FUNDING is a 2022 , due to their low .
For 2022, 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
4.79%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.03%.
Relative Fees (Closing Costs)
Home Town Funding's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,696.
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) | 1,373 | $321,205,000 | $233,944 | $4,423 | 4.74% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 31 | $9,125,000 | $294,355 | $4,513 | 4.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $6,930,000 | $1,155,000 | $12,052 | 4.60% |
| Corning, NY (FHA|USDA|VA) | 15 | $5,845,000 | $389,667 | $5,451 | 4.22% |
| Outside of Metro Areas | 20 | $5,330,000 | $266,500 | $4,464 | 4.87% |
| Seneca Falls, NY (FHA|USDA|VA) | 15 | $3,995,000 | $266,333 | $4,769 | 4.60% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 10 | $3,790,000 | $379,000 | $5,885 | 4.35% |
| SYRACUSE, NY (FHA|USDA|VA) | 19 | $3,315,000 | $174,474 | $3,895 | 5.26% |
| Batavia, NY (FHA|USDA|VA) | 15 | $2,915,000 | $194,333 | $4,483 | 4.81% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $2,325,000 | $465,000 | $7,288 | 3.98% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,250,000 | $375,000 | $7,618 | 4.69% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $2,100,000 | $1,050,000 | $16,978 | 3.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $8,298 | 4.31% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,775,000 | $591,667 | $6,696 | 4.13% |
| Olean, NY (FHA|USDA|VA) | 5 | $1,755,000 | $351,000 | $5,342 | 5.15% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,720,000 | $430,000 | $8,326 | 4.43% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $17,047 | 5.38% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $5,212 | 5.63% |
| UTICA-ROME, NY (FHA|USDA|VA) | 6 | $1,370,000 | $228,333 | $4,415 | 4.92% |
| Auburn, NY (FHA|USDA|VA) | 8 | $1,350,000 | $168,750 | $3,747 | 4.63% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $4,754 | 4.47% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $6,046 | 4.46% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $17,601 | 3.87% |
| SPARTANBURG, SC (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $5,901 | 4.08% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $3,656 | 4.88% |
| Malone, NY (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $6,862 | 3.38% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $9,642 | 5.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $8,158 | 4.31% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $5,726 | 4.51% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $5,194 | 4.56% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,009 | 3.63% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $4,853 | 5.04% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $7,988 | 3.88% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $12,800 | 5.25% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $4,504 | 4.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $4,449 | 3.38% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $8,809 | 3.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $8,545 | 4.13% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $9,039 | 4.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $5,710 | 4.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,452 | 4.26% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $7,957 | 4.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $10,290 | 5.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,740 | 3.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $13,922 | 4.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $8,525 | 5.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,979 | 4.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,457 | 2.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $19,560 | 4.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,255 | 5.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,669 | 3.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,303 | 5.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,301 | 5.13% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,358 | 6.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,030 | 4.25% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,329 | 6.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,980 | 6.00% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,838 | 5.00% |
| Hudson, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,312 | 2.50% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,467 | 5.38% |
| ERIE, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,085 | 6.88% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,337 | 3.64% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,570 | $397,090,000 | $252,924 | $4,587 | 4.73% |
| FHA | 34 | $5,410,000 | $159,118 | $5,263 | 4.75% |
| VA | 7 | $1,955,000 | $279,286 | $7,626 | 4.57% |
For 2022, Home Town Funding's most frequently originated type of loan was Conventional, with 1,570 originations. Their 2nd most popular type was FHA, with 34 originations.
Loan Reason
For 2022, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 1,094 originations. The 2nd most popular reason was Cash Out Refi, with 390 originations.
Loan Duration/Length
For 2022, Home Town Funding's most frequently cited loan duration was 30 Year, with 594 originations. The 2nd most popular length was 3 Year, with 296 originations.
Origination Fees/Closing Costs
Home Town Funding's average total fees were $3,696, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 478 originations.
Interest Rates
During 2022, Home Town Funding's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 4-5%, with 559 originations.
Loan Sizing
2022 saw Home Town Funding place emphasis on $100k-200k loans with 645 originations, totaling $94,425,000 in origination value.
Applicant Income
Home Town Funding lent most frequently to those with incomes in the $100k-150k range, with 344 originations. The second most popular income band? $50k-75k, with 289 originations.
Applicant Debt to Income Ratio
Home Town Funding lent most frequently to those with DTI ratios of 20-30%, with 266 originations. The next most common DTI ratio? 30-36%, with 245 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.34%
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 origination89.94%
Home Town Funding has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,611 | $404,455,000 | $251,058 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |