Home Financing Center Mortgage Rates, Fees & Info
CORAL GABLES, FLLEI: 549300BWXVTVB5RRZN58
Tax ID: 59-2472569
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Home Financing Center is a smaller mortgage company specializing in Home Purchase loans. Home Financing Center has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets include Miami, Orlando, Port St. Lucie, Naples, and Palm Bay among others. Home Financing Center has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Home Financing Center is typically a high fee lendor.Originations
397Origination Dollar Volume (All Markets)
$112,495,000Relative Rate
Home Financing Center 's average 30 year fixed rate mortgage of loans were
3.51%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.36%.
Relative Fees
Home Financing Center 's average total fees for a 30 year fixed rate
mortgage are $10,064.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 388 | $110,080,000 | $283,711 | $9,321 | 3.40% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $7,242 | 3.38% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $5,813 | 3.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,069 | 3.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,679 | 3.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,212 | 3.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $13,396 | 3.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,417 | 2.88% |
Home Financing Center 's top markets include Miami, Orlando, Port St. Lucie, Naples, and Palm Bay among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 240 | $62,860,000 | $261,917 | $6,658 | 3.17% |
| FHA | 156 | $49,340,000 | $316,282 | $13,268 | 3.74% |
| VA | 1 | $295,000 | $295,000 | $18,720 | 4.25% |
For the 2021 period, Home Financing Center 's most frequently originated loan type of loans were Conventional, with 240 originations. Their 2nd most popular type is FHA, with 156 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 204 | $62,710,000 | $307,402 | $11,709 | 3.65% |
| Refi | 81 | $22,445,000 | $277,099 | $6,728 | 3.00% |
| Other | 69 | $17,055,000 | $247,174 | $6,543 | 3.12% |
| Cash Out Refi | 35 | $8,355,000 | $238,714 | $7,344 | 3.46% |
| Home Improvement | 8 | $1,930,000 | $241,250 | $5,551 | 3.08% |
For the 2021, Home Financing Center 's most frequently cited loan purpose of loans were Home Purchase, with 204 originations. The 2nd most popular reason of loans were Refi, with 81 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 332 | $99,320,000 | $299,157 | $10,064 | 3.51% |
| 15 Year | 38 | $7,990,000 | $210,263 | $5,373 | 2.61% |
| 20 Year | 22 | $4,580,000 | $208,182 | $5,340 | 3.24% |
| 10 Year | 5 | $605,000 | $121,000 | $4,734 | 2.55% |
For the 2021, Home Financing Center 's most frequently cited loan length of loans were 30 Year, with 332 originations. The 2nd most popular length of loans were 15 Year, with 38 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 139 | $39,055,000 | $280,971 |
| $5k+ | 101 | $35,505,000 | $351,535 |
| $2k-3k | 78 | $18,220,000 | $233,590 |
| $1k-2k | 61 | $14,915,000 | $244,508 |
| $<1k | 13 | $3,145,000 | $241,923 |
$10,064 of loans were Home Financing Center 's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 139 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 223 | $65,695,000 | $294,596 |
| 2.5-3% | 105 | $27,495,000 | $261,857 |
| 4-5% | 46 | $14,240,000 | $309,565 |
| <2.5% | 20 | $4,170,000 | $208,500 |
| 5-6% | 3 | $895,000 | $298,333 |
During 2021, Home Financing Center 's average interest rate of loans were 3.51%, while their most frequently originated rate bucket of loans were 3-4%, with 223 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 258 | $76,880,000 | $297,984 | $10,217 | 3.54% |
| $100k-200k | 82 | $12,740,000 | $155,366 | $5,824 | 3.07% |
| $400k-600k | 40 | $17,590,000 | $439,750 | $11,203 | 3.27% |
| $100,000 or less | 13 | $945,000 | $72,692 | $4,326 | 3.03% |
| $1MM+ | 2 | $2,980,000 | $1,490,000 | $20,954 | 3.25% |
| $600k-1MM | 2 | $1,360,000 | $680,000 | $13,351 | 3.13% |
2021 saw Home Financing Center place emphasis on $200k-400k loans with 258 originations, totaling $76,880,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 124 | $32,030,000 | $258,306 | $9,679 | 3.40% |
| $75k-100k | 107 | $31,005,000 | $289,766 | $10,248 | 3.56% |
| $100k-150k | 89 | $27,185,000 | $305,449 | $8,652 | 3.38% |
| $50k or less | 36 | $5,870,000 | $163,056 | $7,121 | 3.18% |
| $150k-250k | 34 | $11,540,000 | $339,412 | $8,279 | 3.22% |
| $250k+ | 7 | $4,865,000 | $695,000 | $11,698 | 3.04% |
Home Financing Center lent most frequently to those with incomes in the $50k-75k range, with 124 originations. The second most popular income band? $75k-100k, with 107 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 62 | $17,690,000 | $285,323 | $7,809 | 3.42% |
| 20-30% | 48 | $10,650,000 | $221,875 | $6,327 | 3.06% |
| 50-60% | 34 | $9,990,000 | $293,824 | $12,058 | 3.65% |
| 48% | 30 | $8,500,000 | $283,333 | $9,906 | 3.38% |
| 45% | 21 | $6,155,000 | $293,095 | $11,595 | 3.70% |
| 49% | 20 | $6,060,000 | $303,000 | $12,305 | 3.73% |
| 44% | 18 | $7,490,000 | $416,111 | $12,006 | 3.22% |
| 38% | 18 | $6,180,000 | $343,333 | $10,218 | 3.56% |
| 39% | 16 | $4,650,000 | $290,625 | $10,665 | 3.19% |
| <20% | 16 | $4,040,000 | $252,500 | $7,056 | 3.20% |
| 36% | 15 | $3,785,000 | $252,333 | $8,044 | 3.41% |
| 42% | 14 | $4,180,000 | $298,571 | $8,757 | 3.48% |
| 37% | 14 | $3,170,000 | $226,429 | $8,471 | 3.20% |
| 40% | 14 | $4,070,000 | $290,714 | $9,035 | 3.41% |
| 43% | 14 | $3,870,000 | $276,429 | $7,654 | 3.36% |
| 41% | 13 | $3,745,000 | $288,077 | $10,475 | 3.55% |
| 47% | 12 | $3,590,000 | $299,167 | $9,413 | 3.38% |
| 46% | 12 | $2,890,000 | $240,833 | $9,916 | 3.51% |
| >60% | 2 | $740,000 | $370,000 | $12,841 | 3.19% |
Home Financing Center lent most frequently to those with DTI ratios of 30-36%, with 62 originations. The next most common DTI ratio? 20-30%, with 48 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 337 | $96,865,000 | $287,433 | $9,373 | 3.38% |
| Black | 48 | $12,930,000 | $269,375 | $9,297 | 3.59% |
| Asian | 9 | $1,995,000 | $221,667 | $6,236 | 3.29% |
| Not provided | 2 | $660,000 | $330,000 | $11,290 | 3.31% |
| Native Hawaiian | 1 | $45,000 | $45,000 | $2,828 | 2.75% |
Approval Rates
Total approvals of all applications98.59%
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 origination98.61%
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 | 397 | $112,495,000 | $283,363 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 397 | $112,495,000 | $283,363 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 30 | $5,410,000 | $180,333 | $4,852 | 2.88% |
| 40-60% | 66 | $14,400,000 | $218,182 | $6,255 | 3.05% |
| 60-80% | 101 | $29,375,000 | $290,842 | $7,681 | 3.28% |
| 80-100% | 197 | $63,035,000 | $319,975 | $11,868 | 3.67% |
| Under 20% | 3 | $275,000 | $91,667 | $4,798 | 2.42% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HOME FINANCING CENTER | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |
