Home Financing Center Mortgage Rates, Fees & InfoCORAL GABLES, FL
Tax ID: 59-2472569
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewHome 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.
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|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.|
Origination Dollar Volume (All Markets)$61,395,000
Home Financing Center's average 30 year fixed mortgage rate was
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.
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%|
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.
Similarity Rank: 167
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
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.
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 Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
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|
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.
|Loan Rate||Originations||Total Value||Average Loan|
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.
2022 saw Home Financing Center place emphasis on $200k-400k loans with 121 originations, totaling $39,345,000 in origination value.
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
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.
|Applicant Ethnicity||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Approval RatesTotal approvals of all applications
Home Financing Center has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
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|
|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%|