Home Financing Center Mortgage Rates, Fees & Info

CORAL GABLES, FL

LEI: 549300BWXVTVB5RRZN58

Tax ID: 59-2472569

1 stars - out of 5 stars, based on 13 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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 Financing Center is a smaller mortgage company specializing in loans. They have a a high proportion of FHA loans. Home Financing Center has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Key West, Port St. Lucie, Orlando, and Panama City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Home Financing Center 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 Financing Center is typically a high 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.

    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 7.48% 3/28/23
    30 Year Conventional Refi 6.69% 3/28/23
    30 Year Cash-out Refi 7.10% 3/28/23
    30 Year FHA Purchase 8.31% 3/28/23
    15 Year Conventional Refi 6.29% 3/28/23
    15 Year Cash-out Refi 6.29% 3/28/23
    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.


    Originations

    177

    Origination Dollar Volume (All Markets)

    $61,395,000

    Relative Rate

    Home Financing Center's average 30 year fixed mortgage rate was 5.52%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.76%.

    Relative Fees (Closing Costs)

    Home Financing Center's average total fees/closing costs for a 30 year fixed rate mortgage were $17,350.

    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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 169 $59,445,000 $351,746 $17,271 5.45%
    Key West, FL (FHA|USDA|VA) 1 $535,000 $535,000 $7,344 5.50%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $530,000 $265,000 $17,391 5.13%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $390,000 $195,000 $6,057 4.25%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $255,000 $255,000 $16,365 3.88%
    Outside of Metro Areas 1 $145,000 $145,000 $8,317 6.25%
    Clewiston, FL (FHA|USDA|VA) 1 $95,000 $95,000 $6,744 4.88%
    Home Financing Center's top markets include Miami, Key West, Port St. Lucie, Orlando, and Panama City among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against HOME FINANCING CENTER based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 560
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    We Florida Financial
    Similarity Rank: 1416
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 1746
    IVY MORTGAGE, INC.
    Similarity Rank: 2242
    Suncoast Credit Union
    Similarity Rank: 3010
    Auto Club Trust, FSB
    Similarity Rank: 3402
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 3465
    BANKERS MORTGAGE LENDING, INC.
    Similarity Rank: 3540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 97 $35,965,000 $370,773 $20,956 5.61%
    Conventional 80 $25,430,000 $317,875 $12,082 5.21%

    For 2022, Home Financing Center's most frequently originated type of loan was FHA, with 97 originations. Their 2nd most popular type was Conventional, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 144 $52,270,000 $362,986 $18,400 5.67%
    Other 13 $3,795,000 $291,923 $9,813 4.80%
    Cash Out Refi 12 $3,520,000 $293,333 $13,389 4.23%
    Refi 6 $1,140,000 $190,000 $5,707 3.15%
    Home Improvement 2 $670,000 $335,000 $14,253 6.13%

    For 2022, Home Financing Center's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Other, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 169 $59,525,000 $352,219 $17,350 5.52%
    15 Year 5 $935,000 $187,000 $9,427 3.50%
    20 Year 2 $670,000 $335,000 $9,468 4.25%
    10 Year 1 $265,000 $265,000 $6,313 2.13%

    For 2022, Home Financing Center's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 133 $48,385,000 $363,797
    $3k-4k 19 $4,575,000 $240,789
    $1k-2k 8 $3,270,000 $408,750
    $4k-5k 7 $2,035,000 $290,714
    $<1k 4 $1,290,000 $322,500
    $2k-3k 4 $1,330,000 $332,500

    Home Financing Center's average total fees were $17,350, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 133 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 56 $19,780,000 $353,214
    4-5% 44 $14,610,000 $332,045
    7-8% 27 $10,785,000 $399,444
    6-7% 25 $9,795,000 $391,800
    3-4% 21 $5,485,000 $261,190
    <2.5% 2 $400,000 $200,000
    2.5-3% 2 $540,000 $270,000

    During 2022, Home Financing Center's average interest rate for loans was 5.52%, while their most frequently originated rate bucket for loans was 5-6%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 121 $39,345,000 $325,165 $15,804 5.30%
    $400k-600k 42 $19,570,000 $465,952 $23,078 6.11%
    $100k-200k 10 $1,550,000 $155,000 $8,019 4.40%
    $100,000 or less 3 $285,000 $95,000 $6,608 4.04%
    $600k-1MM 1 $645,000 $645,000 $21,498 6.38%

    2022 saw Home Financing Center place emphasis on $200k-400k loans with 121 originations, totaling $39,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 64 $23,580,000 $368,438 $19,498 5.72%
    $75k-100k 52 $18,240,000 $350,769 $17,944 5.70%
    $50k-75k 27 $7,565,000 $280,185 $13,350 4.62%
    $150k-250k 18 $7,860,000 $436,667 $17,658 5.51%
    $250k+ 8 $2,670,000 $333,750 $10,302 5.50%
    $50k or less 8 $1,480,000 $185,000 $8,135 3.80%

    Home Financing Center lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $75k-100k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 39 $14,045,000 $360,128 $20,299 5.50%
    30-36% 18 $6,040,000 $335,556 $15,297 5.53%
    20-30% 14 $4,280,000 $305,714 $11,517 5.47%
    44% 14 $3,970,000 $283,571 $14,063 5.37%
    41% 11 $3,725,000 $338,636 $16,756 4.99%
    49% 10 $3,880,000 $388,000 $15,173 5.14%
    47% 10 $4,070,000 $407,000 $19,648 5.53%
    43% 9 $3,105,000 $345,000 $15,690 5.63%
    46% 8 $2,520,000 $315,000 $14,466 5.13%
    42% 7 $2,005,000 $286,429 $12,330 5.43%
    48% 7 $2,615,000 $373,571 $18,464 5.16%
    39% 7 $3,025,000 $432,143 $20,967 5.52%
    45% 7 $2,015,000 $287,857 $14,735 5.63%
    38% 5 $1,815,000 $363,000 $15,870 5.20%
    >60% 4 $1,490,000 $372,500 $27,371 6.16%
    40% 3 $1,075,000 $358,333 $17,998 5.88%
    37% 2 $1,010,000 $505,000 $26,972 7.31%
    36% 1 $445,000 $445,000 $15,622 4.75%
    <20% 1 $265,000 $265,000 $6,313 2.13%

    Home Financing Center lent most frequently to those with DTI ratios of 50-60%, with 39 originations. The next most common DTI ratio? 30-36%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 152 $53,370,000 $351,118 $17,341 5.38%
    Black 23 $7,395,000 $321,522 $14,953 5.64%
    Asian 2 $630,000 $315,000 $12,430 7.13%

    Approval Rates

    Total approvals of all applications
    97.33%

    Home Financing Center 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
    97.18%

    Home Financing Center has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 177 $61,395,000 $346,864

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    177 $61,395,000 $346,864

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,010,000 $168,333 $7,572 3.46%
    40-60% 16 $4,440,000 $277,500 $9,596 4.40%
    60-80% 29 $9,435,000 $325,345 $13,782 5.46%
    80-100% 126 $46,510,000 $369,127 $19,066 5.65%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Home Point Financial Corporation Conventional home mortgage Closing on a mortgage 1 20.0%
    Home Point Financial Corporation Conventional home mortgage Incorrect information on your report 1 20.0%
    Home Point Financial Corporation Conventional home mortgage Struggling to pay mortgage 1 20.0%
    Home Point Financial Corporation Conventional home mortgage Trouble during payment process 1 20.0%
    Home Point Financial Corporation VA mortgage Trouble during payment process 1 20.0%