Home Financing Center Mortgage Rates, Fees & Info

CORAL GABLES, FL

LEI: 549300BWXVTVB5RRZN58

Tax ID: 59-2472569

1 stars - Updated: 6/9/24 - out of 5 stars, based on 9 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & 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 by origination volume include: Miami, Port St. Lucie, Cape Coral, Lakeland, and Deltona 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.48% 6/9/24
30 Year Conventional Refi 6.69% 6/9/24
30 Year Cash-out Refi 7.10% 6/9/24
30 Year FHA Purchase 8.31% 6/9/24
15 Year Conventional Refi 6.29% 6/9/24
15 Year Cash-out Refi 6.29% 6/9/24
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 Financing Center Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Home Financing Center. 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

81

Origination Dollar Volume (All Markets)

$31,665,000

Relative Rate

Home Financing Center's average 30 year fixed mortgage rate was 7.28%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.8%.

Relative Fees (Closing Costs)

Home Financing Center's average total fees/closing costs for a 30 year fixed rate mortgage were $20,644.

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 $9,089.

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) 71 $28,675,000 $403,873 $21,504 7.28%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $1,310,000 $327,500 $13,458 7.06%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $700,000 $350,000 $19,410 7.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $355,000 $355,000 $23,799 7.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $10,834 6.63%
OCALA, FL (FHA|USDA|VA) 1 $265,000 $265,000 $11,940 7.63%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $85,000 $85,000 $6,127 8.13%
Home Financing Center's top markets include Miami, Port St. Lucie, Cape Coral, Lakeland, and Deltona among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 42 $15,430,000 $367,381 $15,607 7.07%
    FHA 37 $15,405,000 $416,351 $26,391 7.49%
    VA 2 $830,000 $415,000 $20,104 7.63%

    For 2023, Home Financing Center's most frequently originated type of loan was Conventional, with 42 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $29,115,000 $410,070 $21,610 7.26%
    Other 4 $810,000 $202,500 $11,887 7.44%
    Refi 4 $1,120,000 $280,000 $15,511 7.47%
    Home Improvement 1 $345,000 $345,000 $16,657 7.50%
    Cash Out Refi 1 $275,000 $275,000 $11,608 7.13%

    For 2023, Home Financing Center's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Other, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 81 $31,665,000 $390,926 $20,644 7.28%

    For 2023, Home Financing Center's most frequently cited loan duration was 30 Year, with 81 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 73 $29,785,000 $408,014
    $3k-4k 3 $265,000 $88,333
    $4k-5k 3 $795,000 $265,000
    $2k-3k 1 $565,000 $565,000

    Home Financing Center's average total fees were $20,644, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 73 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 56 $22,260,000 $397,500
    6-7% 23 $8,985,000 $390,652
    Over 8% 2 $420,000 $210,000

    During 2023, Home Financing Center's average interest rate for loans was 7.28%, while their most frequently originated rate bucket for loans was 7-8%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 36 $11,810,000 $328,056 $17,598 7.26%
    $400k-600k 35 $16,345,000 $467,000 $25,748 7.34%
    $100k-200k 4 $580,000 $145,000 $7,752 6.78%
    $600k-1MM 4 $2,770,000 $692,500 $23,589 7.06%
    $100,000 or less 2 $160,000 $80,000 $6,031 7.88%

    2023 saw Home Financing Center place emphasis on $200k-400k loans with 36 originations, totaling $11,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $18,790,000 $408,478 $21,659 7.37%
    $75k-100k 14 $4,590,000 $327,857 $19,174 7.11%
    $150k-250k 13 $5,715,000 $439,615 $22,503 7.37%
    $250k+ 4 $1,950,000 $487,500 $20,317 6.72%
    $50k-75k 3 $545,000 $181,667 $9,223 6.83%
    $50k or less 1 $75,000 $75,000 $5,935 7.63%

    Home Financing Center lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $75k-100k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 19 $7,995,000 $420,789 $23,911 7.32%
    46% 6 $2,540,000 $423,333 $21,923 7.17%
    48% 6 $2,610,000 $435,000 $23,781 7.52%
    49% 6 $2,120,000 $353,333 $17,779 7.10%
    20-30% 6 $2,090,000 $348,333 $15,265 7.29%
    42% 5 $2,045,000 $409,000 $20,359 7.40%
    39% 4 $1,360,000 $340,000 $16,215 7.25%
    41% 4 $1,910,000 $477,500 $26,014 7.28%
    45% 3 $915,000 $305,000 $14,180 7.46%
    37% 3 $845,000 $281,667 $14,147 7.29%
    47% 3 $1,105,000 $368,333 $21,375 7.50%
    44% 3 $1,085,000 $361,667 $21,526 7.13%
    36% 3 $835,000 $278,333 $16,649 6.96%
    <20% 2 $690,000 $345,000 $20,536 6.75%
    30-36% 2 $770,000 $385,000 $22,381 7.56%
    38% 2 $640,000 $320,000 $16,747 7.13%
    40% 2 $1,150,000 $575,000 $27,108 7.19%
    43% 1 $535,000 $535,000 $16,837 7.13%
    >60% 1 $425,000 $425,000 $20,623 7.38%

    Home Financing Center lent most frequently to those with DTI ratios of 50-60%, with 19 originations. The next most common DTI ratio? 46%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $27,360,000 $390,857 $20,175 7.27%
    Black 11 $4,305,000 $391,364 $23,624 7.33%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    96.30%

    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 81 $31,665,000 $390,926

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    81 $31,665,000 $390,926

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $400,000 $200,000 $8,918 7.25%
    40-60% 9 $2,675,000 $297,222 $13,459 7.19%
    60-80% 20 $6,990,000 $349,500 $17,849 7.06%
    80-100% 49 $21,525,000 $439,286 $23,883 7.38%
    Under 20% 1 $75,000 $75,000 $5,935 7.63%