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

Jump to:

Mortgage Data

Review & Overview

Home Town Funding is a smaller mortgage company specializing in Home Purchase, Refi, 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, North Port, Buffalo, Miami, and Corning among others. We have data for 57 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.

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% 4/18/24
30 Year Conventional Refi 6.36% 4/18/24
30 Year Cash-out Refi 6.56% 4/18/24
30 Year FHA Purchase 7.24% 4/18/24
30 Year FHA Refi 7.43% 4/18/24
30 Year VA Purchase 6.44% 4/18/24
15 Year Conventional Purchase 5.88% 4/18/24
15 Year Conventional Refi 5.78% 4/18/24
15 Year Cash-out Refi 5.78% 4/18/24
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

3,144

Origination Dollar Volume (All Markets)

$663,690,000
Show all (13) 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) 2,862 $574,000,000 $200,559 $3,209 3.03%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 13 $7,825,000 $601,923 $7,092 3.27%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 32 $6,880,000 $215,000 $3,208 3.07%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $6,400,000 $1,066,667 $8,779 3.09%
Corning, NY (FHA|USDA|VA) 24 $5,960,000 $248,333 $3,754 3.19%
Outside of Metro Areas 22 $5,710,000 $259,545 $4,211 3.16%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 12 $5,670,000 $472,500 $7,421 3.62%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 10 $5,560,000 $556,000 $7,666 2.98%
SYRACUSE, NY (FHA|USDA|VA) 23 $5,375,000 $233,696 $3,470 2.89%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 10 $3,220,000 $322,000 $5,599 3.08%
Cullowhee, NC (FHA|USDA|VA) 1 $3,045,000 $3,045,000 $25,688 3.75%
Seneca Falls, NY (FHA|USDA|VA) 13 $2,745,000 $211,154 $3,553 2.93%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $2,350,000 $391,667 $2,798 2.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $2,260,000 $1,130,000 $10,962 4.00%
Batavia, NY (FHA|USDA|VA) 16 $1,860,000 $116,250 $2,999 2.95%
UTICA-ROME, NY (FHA|USDA|VA) 8 $1,620,000 $202,500 $3,532 2.99%
Auburn, NY (FHA|USDA|VA) 7 $1,545,000 $220,714 $2,733 2.66%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,405,000 $468,333 $7,500 3.54%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $1,370,000 $342,500 $3,225 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 6 $1,290,000 $215,000 $4,356 3.22%
Morehead City, NC (FHA|USDA|VA) 2 $1,270,000 $635,000 $6,626 2.81%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 5 $1,185,000 $237,000 $3,206 3.18%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $1,110,000 $555,000 $6,638 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $920,000 $460,000 $6,299 3.00%
RICHMOND, VA (FHA|USDA|VA) 2 $830,000 $415,000 $5,669 3.06%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $815,000 $271,667 $4,690 2.92%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $730,000 $365,000 $3,230 2.81%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $695,000 $231,667 $3,419 2.92%
Olean, NY (FHA|USDA|VA) 3 $675,000 $225,000 $4,671 3.03%
Ogdensburg-Massena, NY (FHA|USDA|VA) 4 $670,000 $167,500 $2,621 2.79%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $590,000 $295,000 $5,459 2.69%
ITHACA, NY (FHA|USDA|VA) 2 $540,000 $270,000 $2,974 2.56%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $535,000 $178,333 $4,039 3.38%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $530,000 $265,000 $2,261 2.44%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $515,000 $515,000 $5,099 2.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $4,090 3.63%
SAVANNAH, GA (FHA|USDA|VA) 1 $475,000 $475,000 $7,485 3.64%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $445,000 $445,000 $7,193 3.77%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $435,000 $435,000 $2,716 3.38%
DECATUR, AL (FHA|USDA|VA) 1 $395,000 $395,000 $2,666 2.63%
ELMIRA, NY (FHA|USDA|VA) 2 $340,000 $170,000 $2,882 2.56%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,773 3.71%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $305,000 $305,000 $4,937 2.63%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $275,000 $275,000 $5,512 3.64%
PITTSBURGH, PA (FHA|USDA|VA) 1 $255,000 $255,000 $6,672 3.64%
LEBANON, PA (FHA|USDA|VA) 1 $235,000 $235,000 $3,889 2.25%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,622 2.63%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $225,000 $225,000 $3,956 3.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,310 3.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $225,000 $225,000 $4,044 2.38%
OCALA, FL (FHA|USDA|VA) 2 $210,000 $105,000 $2,609 2.94%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 2 $200,000 $100,000 $2,786 3.38%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $185,000 $185,000 $2,513 3.38%
Oneonta, NY (FHA|USDA|VA) 1 $175,000 $175,000 $4,615 3.52%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,618 2.63%
GLENS FALLS, NY (FHA|USDA|VA) 1 $125,000 $125,000 $3,896 4.25%
BINGHAMTON, NY (FHA|USDA|VA) 1 $75,000 $75,000 $3,030 3.00%
Home Town Funding's top markets include Rochester, North Port, Buffalo, Miami, and Corning among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Georgia (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: 70
    ONTARIO SHORES
    Similarity Rank: 111
    Bank of Akron
    Similarity Rank: 114
    RIVERSIDE
    Similarity Rank: 128
    Elmira Savings Bank
    Similarity Rank: 224
    FAMILY FIRST OF NY
    Similarity Rank: 378

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,009 $643,075,000 $213,717 $3,282 3.05%
    FHA 86 $12,360,000 $143,721 $4,632 2.85%
    VA 31 $5,985,000 $193,065 $3,786 2.85%
    USDA 18 $2,270,000 $126,111 $3,191 3.01%

    For 2020, Home Town Funding's most frequently originated type of loan was Conventional, with 3,009 originations. Their 2nd most popular type was FHA, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,378 $295,610,000 $214,521 $3,721 3.18%
    Refi 1,042 $221,110,000 $212,198 $2,814 2.73%
    Cash Out Refi 724 $146,970,000 $202,997 $3,298 3.21%

    For 2020, Home Town Funding's most frequently cited loan purpose was Home Purchase, with 1,378 originations. The 2nd most popular reason was Refi, with 1,042 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,485 $296,565,000 $199,707 $3,095 2.96%
    15 Year 779 $152,115,000 $195,270 $2,754 2.52%
    10 Year 235 $99,385,000 $422,915 $5,802 3.49%
    20 Year 211 $42,885,000 $203,246 $2,699 2.88%
    3 Year 202 $29,350,000 $145,297 $4,244 4.49%
    5 Year 195 $35,235,000 $180,692 $4,159 3.84%
    Other 37 $8,155,000 $220,405 $2,847 2.95%

    For 2020, Home Town Funding's most frequently cited loan duration was 30 Year, with 1,485 originations. The 2nd most popular length was 15 Year, with 779 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,268 $459,820,000 $202,743
    $1k-2k 546 $81,110,000 $148,553
    $2k-3k 188 $39,630,000 $210,798
    $3k-4k 58 $21,310,000 $367,414
    $5k+ 55 $46,285,000 $841,545
    $4k-5k 29 $15,535,000 $535,690

    Home Town Funding's average total fees were $3,095, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,268 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,136 $239,150,000 $210,519
    3-4% 902 $220,540,000 $244,501
    <2.5% 816 $159,010,000 $194,865
    4-5% 274 $41,000,000 $149,635
    5-6% 16 $3,990,000 $249,375

    During 2020, 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 1,136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,463 $215,615,000 $147,379 $3,021 3.02%
    $200k-400k 1,004 $269,630,000 $268,556 $3,358 2.93%
    $100,000 or less 436 $32,800,000 $75,229 $2,825 3.30%
    $400k-600k 181 $86,335,000 $476,989 $4,455 2.98%
    $600k-1MM 44 $32,600,000 $740,909 $8,555 3.47%
    $1MM+ 16 $26,710,000 $1,669,375 $15,087 3.66%

    2020 saw Home Town Funding place emphasis on $100k-200k loans with 1,463 originations, totaling $215,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 663 $137,755,000 $207,775 $3,087 2.94%
    $50k-75k 610 $89,870,000 $147,328 $2,984 3.01%
    $150k-250k 531 $141,525,000 $266,525 $3,296 2.90%
    $75k-100k 474 $83,010,000 $175,127 $3,089 2.97%
    $50k or less 390 $44,630,000 $114,436 $3,082 3.08%
    $250k+ 323 $136,915,000 $423,885 $4,480 2.94%

    Home Town Funding lent most frequently to those with incomes in the $100k-150k range, with 663 originations. The second most popular income band? $50k-75k, with 610 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 737 $157,855,000 $214,186 $3,127 2.88%
    30-36% 568 $124,430,000 $219,067 $3,253 2.97%
    <20% 337 $77,285,000 $229,332 $3,083 2.80%
    50-60% 132 $26,610,000 $201,591 $4,207 3.63%
    42% 118 $25,100,000 $212,712 $3,528 3.15%
    40% 107 $18,755,000 $175,280 $3,072 3.17%
    39% 101 $20,275,000 $200,743 $3,317 3.01%
    38% 101 $21,315,000 $211,040 $3,357 3.08%
    43% 97 $18,915,000 $195,000 $3,402 3.18%
    46% 95 $20,765,000 $218,579 $3,486 3.05%
    45% 93 $17,235,000 $185,323 $3,167 3.08%
    44% 93 $18,815,000 $202,312 $3,327 3.01%
    47% 92 $20,480,000 $222,609 $3,652 3.10%
    36% 86 $16,250,000 $188,953 $3,142 2.98%
    37% 80 $15,350,000 $191,875 $3,180 3.01%
    41% 79 $14,875,000 $188,291 $3,356 3.08%
    49% 72 $13,770,000 $191,250 $3,326 3.08%
    48% 65 $14,095,000 $216,846 $3,328 3.18%
    >60% 17 $3,765,000 $221,471 $4,568 3.64%

    Home Town Funding lent most frequently to those with DTI ratios of 20-30%, with 737 originations. The next most common DTI ratio? 30-36%, with 568 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,694 $576,090,000 $213,842 $3,247 2.96%
    Not applicable 153 $29,985,000 $195,980 $4,689 4.38%
    Not provided 117 $25,045,000 $214,060 $3,301 2.93%
    Asian 116 $23,270,000 $200,603 $3,316 3.06%
    Black 61 $8,725,000 $143,033 $3,352 3.25%
    American Indian 2 $380,000 $190,000 $2,610 3.04%
    Asian Indian 1 $195,000 $195,000 $2,949 2.38%

    Approval Rates

    Total approvals of all applications
    96.04%

    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
    93.77%

    Home Town Funding has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,144 $663,690,000 $211,097

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $300,000 $75,000
    Single Family (1-4 Units):Site-Built 3,140 $663,390,000 $211,271

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 94 $12,690,000 $135,000 $2,860 2.67%
    40-60% 436 $75,640,000 $173,486 $2,705 2.70%
    60-80% 1,443 $307,745,000 $213,267 $3,029 3.02%
    80-100% 1,159 $265,795,000 $229,331 $3,954 3.21%
    Over 100% 8 $1,330,000 $166,250 $4,582 2.86%
    Under 20% 4 $490,000 $122,500 $2,189 2.53%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    HomeTown Lenders, LLC Other type of mortgage Closing on a mortgage 1 50.0%