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, Buffalo, Corning, Tampa, and Miami among others. We have data for 40 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.48% | 4/21/24 |
| 30 Year Conventional Refi | 6.36% | 4/21/24 |
| 30 Year Cash-out Refi | 6.56% | 4/21/24 |
| 30 Year FHA Purchase | 7.24% | 4/21/24 |
| 30 Year FHA Refi | 7.43% | 4/21/24 |
| 30 Year VA Purchase | 6.44% | 4/21/24 |
| 15 Year Conventional Purchase | 5.88% | 4/21/24 |
| 15 Year Conventional Refi | 5.78% | 4/21/24 |
| 15 Year Cash-out Refi | 5.78% | 4/21/24 |
| 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
1,479Origination Dollar Volume (All Markets)
$280,395,000Awards
HOME TOWN FUNDING - 2019
HOME TOWN FUNDING is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 1,365 | $251,655,000 | $184,363 | $3,687 | 4.12% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 18 | $3,370,000 | $187,222 | $3,621 | 4.28% |
| Corning, NY (FHA|USDA|VA) | 19 | $3,125,000 | $164,474 | $3,571 | 3.97% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,150,000 | $358,333 | $6,473 | 4.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $2,080,000 | $1,040,000 | $11,090 | 4.06% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $7,411 | 4.06% |
| SYRACUSE, NY (FHA|USDA|VA) | 7 | $1,595,000 | $227,857 | $3,156 | 4.13% |
| Outside of Metro Areas | 8 | $1,280,000 | $160,000 | $3,815 | 4.37% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $1,275,000 | $1,275,000 | $16,199 | 4.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $6,546 | 3.99% |
| Seneca Falls, NY (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $2,575 | 3.92% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $3,813 | 4.38% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $9,090 | 3.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $10,370 | 3.50% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $7,850 | 3.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $11,962 | 3.64% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $9,204 | 4.00% |
| Batavia, NY (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $3,208 | 4.34% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $7,967 | 3.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,613 | 5.09% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $7,546 | 4.13% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,788 | 3.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,441 | 3.88% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,687 | 3.44% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,758 | 3.94% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,110 | 5.13% |
| Auburn, NY (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $4,228 | 4.58% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,525 | 4.84% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,264 | 3.64% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,362 | 3.52% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,873 | 3.45% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,762 | 3.63% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,286 | 4.38% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,592 | 4.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,837 | 4.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,164 | 3.63% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,461 | 4.88% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,690 | 4.25% |
| Malone, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,521 | 3.25% |
| Olean, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,964 | 4.25% |
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 2019, Home Town Funding's most frequently originated type of loan was Conventional, with 1,343 originations. Their 2nd most popular type was FHA, with 98 originations.
Loan Reason
For 2019, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 983 originations. The 2nd most popular reason was Cash Out Refi, with 332 originations.
Loan Duration/Length
For 2019, Home Town Funding's most frequently cited loan duration was 30 Year, with 710 originations. The 2nd most popular length was 5 Year, with 224 originations.
Origination Fees/Closing Costs
Home Town Funding's average total fees were $3,201, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 683 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 736 | $153,000,000 | $207,880 |
| 4-5% | 655 | $115,225,000 | $175,916 |
| 5-6% | 82 | $10,810,000 | $131,829 |
| 2.5-3% | 5 | $1,315,000 | $263,000 |
| 6-7% | 1 | $45,000 | $45,000 |
During 2019, Home Town Funding's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 3-4%, with 736 originations.
Loan Sizing
2019 saw Home Town Funding place emphasis on $100k-200k loans with 700 originations, totaling $99,660,000 in origination value.
Applicant Income
Home Town Funding lent most frequently to those with incomes in the $50k-75k range, with 284 originations. The second most popular income band? $100k-150k, with 277 originations.
Applicant Debt to Income Ratio
Home Town Funding lent most frequently to those with DTI ratios of 20-30%, with 275 originations. The next most common DTI ratio? 30-36%, with 250 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.48%
Home Town Funding has an average approval rate.
Pick Rate
Approvals leading to origination91.35%
Home Town Funding has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,479 | $280,395,000 | $189,584 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $195,000 | $65,000 |
| Single Family (1-4 Units):Site-Built | 1,476 | $280,200,000 | $189,837 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HomeTown Lenders, LLC | VA mortgage | Closing on a mortgage | 1 | 50.0% |
| HomeTown Lenders, LLC | FHA mortgage | Closing on a mortgage | 1 | 50.0% |