Home Financing Center Mortgage Rates, Fees & Info
CORAL GABLES, FLLEI: 549300BWXVTVB5RRZN58
Tax ID: 59-2472569
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Mortgage Data
Review & Overview
Home Financing Center is a smaller mortgage company specializing in Home Purchase 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, Orlando, Port St. Lucie, Sebastian, and Cape Coral among others. We have data for 10 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. 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.48% | 5/4/24 |
| 30 Year Conventional Refi | 6.69% | 5/4/24 |
| 30 Year Cash-out Refi | 7.10% | 5/4/24 |
| 30 Year FHA Purchase | 8.31% | 5/4/24 |
| 15 Year Conventional Refi | 6.29% | 5/4/24 |
| 15 Year Cash-out Refi | 6.29% | 5/4/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
354Origination Dollar Volume (All Markets)
$105,690,000Top 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) | 337 | $101,615,000 | $301,528 | $10,159 | 5.24% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,275,000 | $255,000 | $7,477 | 5.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $2,909 | 4.71% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $10,765 | 5.19% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $10,348 | 5.63% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $11,153 | 5.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,439 | 5.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,104 | 5.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,634 | 5.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,344 | 5.13% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 195 | $57,475,000 | $294,744 | $12,575 | 5.45% |
| Conventional | 157 | $47,725,000 | $303,981 | $6,927 | 4.98% |
| VA | 2 | $490,000 | $245,000 | $6,053 | 5.25% |
For 2018, Home Financing Center's most frequently originated type of loan was FHA, with 195 originations. Their 2nd most popular type was Conventional, with 157 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 271 | $86,735,000 | $320,055 | $10,958 | 5.29% |
| Refi | 83 | $18,955,000 | $228,373 | $7,013 | 5.09% |
For 2018, Home Financing Center's most frequently cited loan purpose was Home Purchase, with 271 originations. The 2nd most popular reason was Refi, with 83 originations.
Loan Duration/Length
For 2018, Home Financing Center's most frequently cited loan duration was 30 Year, with 335 originations. The 2nd most popular length was 15 Year, with 12 originations.
Origination Fees/Closing Costs
Home Financing Center's average total fees were $10,245, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 96 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 218 | $60,860,000 | $279,174 |
| 4-5% | 121 | $39,355,000 | $325,248 |
| 6-7% | 10 | $2,790,000 | $279,000 |
| 3-4% | 5 | $2,685,000 | $537,000 |
During 2018, Home Financing Center's average interest rate for loans was 5.28%, while their most frequently originated rate bucket for loans was 5-6%, with 218 originations.
Loan Sizing
2018 saw Home Financing Center place emphasis on $200k-400k loans with 264 originations, totaling $78,280,000 in origination value.
Applicant Income
Home Financing Center lent most frequently to those with incomes in the $75k-100k range, with 117 originations. The second most popular income band? $50k-75k, with 114 originations.
Applicant Debt to Income Ratio
Home Financing Center lent most frequently to those with DTI ratios of 50-60%, with 102 originations. The next most common DTI ratio? 30-36%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 354 | $105,690,000 | $298,559 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 354 | $105,690,000 | $298,559 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HOME FINANCING CENTER | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| HOME FINANCING CENTER | Other type of mortgage | Struggling to pay mortgage | 1 | 33.3% |