Home Town Funding Mortgage Rates, Fees & Info

CANANDAIGUA, NY

LEI: 549300BRR67NLTQSBT29

Tax ID: 16-1237621

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Home Town Funding is a smaller mortgage company specializing in Home Purchase loans. Home Town Funding has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rochester, Naples, Buffalo, Corning, and Miami among others. We have data for 36 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.

    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 6.48% 12/16/24
    30 Year Conventional Refi 6.36% 12/16/24
    30 Year Cash-out Refi 6.56% 12/16/24
    30 Year FHA Purchase 7.24% 12/16/24
    30 Year FHA Refi 7.43% 12/16/24
    30 Year VA Purchase 6.44% 12/16/24
    15 Year Conventional Purchase 5.88% 12/16/24
    15 Year Conventional Refi 5.78% 12/16/24
    15 Year Cash-out Refi 5.78% 12/16/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Home Town Funding. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,305

    Origination Dollar Volume (All Markets)

    $241,715,000
    Show all (6) awards

    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) 1,207 $215,175,000 $178,273 $3,618 4.61%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $3,440,000 $860,000 $12,673 4.69%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 14 $3,220,000 $230,000 $2,789 4.54%
    Outside of Metro Areas 9 $3,065,000 $340,556 $5,792 4.39%
    Corning, NY (FHA|USDA|VA) 9 $3,005,000 $333,889 $4,164 4.61%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $2,505,000 $501,000 $8,663 4.80%
    SYRACUSE, NY (FHA|USDA|VA) 8 $1,160,000 $145,000 $3,338 4.16%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 4 $1,050,000 $262,500 $4,284 4.63%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,002 4.42%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $985,000 $197,000 $5,002 4.48%
    BINGHAMTON, NY (FHA|USDA|VA) 3 $775,000 $258,333 $3,575 4.21%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $620,000 $310,000 $6,301 4.81%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $595,000 $198,333 $5,001 4.42%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $525,000 $525,000 $6,274 5.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $365,000 $365,000 $3,721 4.75%
    Auburn, NY (FHA|USDA|VA) 3 $345,000 $115,000 $2,350 4.71%
    UTICA-ROME, NY (FHA|USDA|VA) 2 $330,000 $165,000 $3,871 4.13%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,685 4.88%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $305,000 $305,000 $6,924 4.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,102 5.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $5,737 4.38%
    ITHACA, NY (FHA|USDA|VA) 1 $235,000 $235,000 $5,159 4.50%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $225,000 $225,000 $5,110 4.88%
    Cortland, NY (FHA|USDA|VA) 1 $225,000 $225,000 $2,510 4.75%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $225,000 $225,000 $3,735 4.25%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $215,000 $215,000 $5,140 4.88%
    Seneca Falls, NY (FHA|USDA|VA) 3 $195,000 $65,000 $2,298 4.42%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,602 4.75%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $155,000 $155,000 $4,892 4.63%
    Batavia, NY (FHA|USDA|VA) 2 $140,000 $70,000 $3,291 4.13%
    ELMIRA, NY (FHA|USDA|VA) 1 $135,000 $135,000 $4,390 4.00%
    Mount Sterling, KY (FHA|USDA|VA) 1 $135,000 $135,000 $3,126 5.13%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $125,000 $125,000 $3,297 3.88%
    OCALA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $4,020 4.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $55,000 $55,000 $3,278 5.13%
    Olean, NY (FHA|USDA|VA) 1 $55,000 $55,000 $3,342 5.25%
    Home Town Funding's top markets include Rochester, Naples, Buffalo, Corning, and Miami among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Wisconsin (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.

    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 33
    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 36
    Pittsford Federal Credit Union
    Similarity Rank: 44
    ONTARIO SHORES
    Similarity Rank: 52
    VISIONS
    Similarity Rank: 75
    Moog Employees Federal Credit Union
    Similarity Rank: 130
    Elmira Savings Bank
    Similarity Rank: 168
    USNY Bank
    Similarity Rank: 252
    FAMILY FIRST OF NY
    Similarity Rank: 306
    SEFCU SERVICES, LLC
    Similarity Rank: 312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,162 $222,730,000 $191,678 $3,622 4.63%
    FHA 118 $14,760,000 $125,085 $4,184 4.36%
    VA 20 $3,620,000 $181,000 $4,800 4.36%
    USDA 5 $605,000 $121,000 $2,985 4.20%

    For 2018, Home Town Funding's most frequently originated type of loan was Conventional, with 1,162 originations. Their 2nd most popular type was FHA, with 118 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 998 $180,760,000 $181,122 $3,737 4.58%
    Cash Out Refi 205 $37,935,000 $185,049 $3,847 4.79%
    Refi 99 $22,515,000 $227,424 $2,959 4.47%
    Other 3 $505,000 $168,333 $4,501 4.50%

    For 2018, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 998 originations. The 2nd most popular reason was Cash Out Refi, with 205 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 675 $115,055,000 $170,452 $3,297 4.63%
    5 Year 264 $48,430,000 $183,447 $4,163 4.52%
    3 Year 125 $16,745,000 $133,960 $3,903 4.96%
    10 Year 121 $39,365,000 $325,331 $5,550 4.71%
    15 Year 94 $16,710,000 $177,766 $2,936 4.11%
    20 Year 25 $5,235,000 $209,400 $3,113 4.40%
    Other 1 $175,000 $175,000 $5,691 5.25%

    For 2018, Home Town Funding's most frequently cited loan duration was 30 Year, with 675 originations. The 2nd most popular length was 5 Year, with 264 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 597 $100,055,000 $167,596
    $1k-2k 382 $51,180,000 $133,979
    $2k-3k 147 $28,575,000 $194,388
    $3k-4k 59 $18,745,000 $317,712
    $4k-5k 31 $14,185,000 $457,581
    $5k+ 26 $17,850,000 $686,538

    Home Town Funding's average total fees were $3,297, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 597 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 984 $186,330,000 $189,360
    5-6% 174 $29,120,000 $167,356
    3-4% 144 $26,060,000 $180,972
    6-7% 3 $205,000 $68,333

    During 2018, Home Town Funding's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 984 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 597 $85,605,000 $143,392 $3,462 4.59%
    $200k-400k 355 $94,185,000 $265,310 $3,984 4.58%
    $100,000 or less 279 $20,145,000 $72,204 $2,898 4.66%
    $400k-600k 58 $28,340,000 $488,621 $6,020 4.53%
    $600k-1MM 14 $10,450,000 $746,429 $9,684 4.52%
    $1MM+ 2 $2,990,000 $1,495,000 $19,539 4.81%

    2018 saw Home Town Funding place emphasis on $100k-200k loans with 597 originations, totaling $85,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 290 $39,750,000 $137,069 $3,383 4.59%
    $100k-150k 256 $52,760,000 $206,094 $3,574 4.63%
    $50k or less 214 $22,010,000 $102,850 $3,196 4.49%
    $75k-100k 207 $34,605,000 $167,174 $3,563 4.58%
    $150k-250k 147 $38,335,000 $260,782 $4,059 4.55%
    $250k+ 90 $37,300,000 $414,444 $5,647 4.52%

    Home Town Funding lent most frequently to those with incomes in the $50k-75k range, with 290 originations. The second most popular income band? $100k-150k, with 256 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 237 $43,085,000 $181,793 $3,435 4.55%
    30-36% 195 $37,975,000 $194,744 $3,697 4.57%
    50-60% 98 $16,990,000 $173,367 $4,229 4.54%
    <20% 65 $13,325,000 $205,000 $3,723 4.54%
    45% 57 $8,835,000 $155,000 $3,289 4.59%
    46% 53 $9,765,000 $184,245 $3,856 4.58%
    44% 51 $8,855,000 $173,627 $3,891 4.55%
    39% 51 $10,625,000 $208,333 $3,809 4.76%
    38% 50 $7,720,000 $154,400 $3,538 4.65%
    36% 48 $9,860,000 $205,417 $3,530 4.61%
    40% 47 $7,355,000 $156,489 $3,191 4.62%
    42% 45 $6,765,000 $150,333 $3,286 4.59%
    48% 44 $10,320,000 $234,545 $4,538 4.49%
    41% 43 $7,875,000 $183,140 $3,853 4.66%
    49% 41 $7,175,000 $175,000 $3,712 4.57%
    47% 39 $8,105,000 $207,821 $3,893 4.48%
    43% 34 $6,880,000 $202,353 $3,558 4.68%
    37% 32 $6,600,000 $206,250 $3,789 4.72%
    >60% 9 $1,735,000 $192,778 $4,197 4.34%

    Home Town Funding lent most frequently to those with DTI ratios of 20-30%, with 237 originations. The next most common DTI ratio? 30-36%, with 195 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,103 $208,405,000 $188,944 $3,652 4.57%
    Not applicable 102 $17,020,000 $166,863 $4,269 5.00%
    Asian 64 $11,510,000 $179,844 $3,964 4.45%
    Black 32 $4,190,000 $130,938 $3,760 4.64%
    American Indian 2 $440,000 $220,000 $5,424 4.25%
    Native Hawaiian or Islander 1 $85,000 $85,000 $3,232 4.88%
    Not provided 1 $65,000 $65,000 $2,950 5.38%

    Approval Rates

    Total approvals of all applications
    94.27%

    Home Town Funding has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.43%

    Home Town Funding has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,305 $241,715,000 $185,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $505,000 $168,333
    Single Family (1-4 Units):Manufactured 5 $435,000 $87,000
    Single Family (1-4 Units):Site-Built 1,297 $240,775,000 $185,640

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $2,735,000 $101,296 $2,797 4.33%
    40-60% 74 $11,000,000 $148,649 $3,008 4.38%
    60-80% 460 $82,920,000 $180,261 $3,364 4.70%
    80-100% 738 $143,640,000 $194,634 $3,971 4.58%
    Over 100% 4 $1,350,000 $337,500 $9,038 4.38%
    Under 20% 2 $70,000 $35,000 $2,184 4.31%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Closing on a mortgage 2 4.9%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Struggling to pay mortgage 4 9.8%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Trouble during payment process 13 31.7%
    HUNTINGTON NATIONAL BANK, THE FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE FHA mortgage Trouble during payment process 3 7.3%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 4.9%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Trouble during payment process 5 12.2%
    HUNTINGTON NATIONAL BANK, THE Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Other type of mortgage Trouble during payment process 7 17.1%
    HUNTINGTON NATIONAL BANK, THE VA mortgage Closing on a mortgage 1 2.4%