Home Financing Center Mortgage Rates, Fees & Info

CORAL GABLES, FL

LEI: 549300BWXVTVB5RRZN58

Tax ID: 59-2472569

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 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, Cape Coral, Port St. Lucie, Palm Bay, and Orlando 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. 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 about average 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% 11/17/24
    30 Year Conventional Refi 6.69% 11/17/24
    30 Year Cash-out Refi 7.10% 11/17/24
    30 Year FHA Purchase 8.31% 11/17/24
    15 Year Conventional Refi 6.29% 11/17/24
    15 Year Cash-out Refi 6.29% 11/17/24
    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

    277

    Origination Dollar Volume (All Markets)

    $75,295,000

    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) 262 $72,270,000 $275,840 $9,946 4.74%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $870,000 $217,500 $9,584 5.34%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $600,000 $300,000 $14,374 4.56%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $410,000 $205,000 $8,781 4.13%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $300,000 $150,000 $6,575 4.56%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $255,000 $255,000 $13,218 6.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $235,000 $235,000 $11,648 5.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,663 3.63%
    Key West, FL (FHA|USDA|VA) 1 $125,000 $125,000 $4,751 3.88%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $85,000 $85,000 $5,238 4.50%
    Home Financing Center's top markets include Miami, Cape Coral, Port St. Lucie, Palm Bay, and Orlando 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.

    POWER FINANCIAL
    Similarity Rank: 188
    We Florida Financial
    Similarity Rank: 572
    TrustCo Bank
    Similarity Rank: 754
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 755
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 940
    BANKING MORTGAGE SERVICES, B.M.S. CORP.
    Similarity Rank: 1230
    CROSSFIRE FINANCIAL NETWORK, INC.
    Similarity Rank: 1440
    Malvern Bank N.A.
    Similarity Rank: 1548
    Suncoast Credit Union
    Similarity Rank: 1794
    SPACE COAST Credit Union
    Similarity Rank: 1848

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $35,820,000 $248,750 $7,258 4.44%
    FHA 133 $39,475,000 $296,805 $12,774 5.06%

    For 2019, Home Financing Center's most frequently originated type of loan was Conventional, with 144 originations. Their 2nd most popular type was FHA, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 174 $52,130,000 $299,598 $11,125 4.98%
    Refi 37 $7,895,000 $213,378 $6,825 3.98%
    Other 35 $7,185,000 $205,286 $7,735 4.38%
    Cash Out Refi 23 $6,535,000 $284,130 $10,122 4.86%
    Home Improvement 8 $1,550,000 $193,750 $6,540 4.28%

    For 2019, Home Financing Center's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 253 $70,885,000 $280,178 $10,250 4.82%
    15 Year 14 $2,650,000 $189,286 $6,062 3.55%
    20 Year 8 $1,470,000 $183,750 $7,228 4.27%
    10 Year 2 $290,000 $145,000 $4,010 3.94%

    For 2019, Home Financing Center's most frequently cited loan duration was 30 Year, with 253 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 74 $22,610,000 $305,541
    $1k-2k 68 $18,240,000 $268,235
    $2k-3k 55 $13,875,000 $252,273
    $3k-4k 48 $12,550,000 $261,458
    $4k-5k 28 $6,990,000 $249,643
    $<1k 3 $775,000 $258,333

    Home Financing Center's average total fees were $10,250, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 107 $30,535,000 $285,374
    5-6% 87 $23,825,000 $273,851
    3-4% 66 $16,220,000 $245,758
    6-7% 12 $3,780,000 $315,000
    2.5-3% 3 $585,000 $195,000
    <2.5% 1 $215,000 $215,000
    7-8% 1 $135,000 $135,000

    During 2019, Home Financing Center's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 184 $56,040,000 $304,565 $11,417 4.85%
    $100k-200k 70 $10,490,000 $149,857 $6,272 4.55%
    $400k-600k 13 $5,845,000 $449,615 $9,393 4.34%
    $100,000 or less 7 $595,000 $85,000 $4,545 4.55%
    $600k-1MM 3 $2,325,000 $775,000 $16,762 4.50%

    2019 saw Home Financing Center place emphasis on $200k-400k loans with 184 originations, totaling $56,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 94 $23,030,000 $245,000 $9,614 4.75%
    $75k-100k 81 $24,065,000 $297,099 $10,795 4.83%
    $100k-150k 55 $16,555,000 $301,000 $10,616 4.89%
    $50k or less 27 $4,075,000 $150,926 $6,853 4.31%
    $150k-250k 16 $5,700,000 $356,250 $9,695 4.45%
    $250k+ 4 $1,870,000 $467,500 $10,483 4.59%

    Home Financing Center lent most frequently to those with incomes in the $50k-75k range, with 94 originations. The second most popular income band? $75k-100k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 45 $14,575,000 $323,889 $13,563 5.06%
    30-36% 45 $12,125,000 $269,444 $9,217 4.49%
    20-30% 41 $9,605,000 $234,268 $7,518 4.23%
    44% 16 $3,530,000 $220,625 $8,293 4.88%
    43% 14 $4,440,000 $317,143 $12,897 4.91%
    38% 13 $3,195,000 $245,769 $8,573 4.93%
    37% 11 $3,045,000 $276,818 $9,416 4.82%
    47% 10 $3,020,000 $302,000 $10,152 5.04%
    41% 9 $2,255,000 $250,556 $7,391 4.57%
    49% 9 $2,315,000 $257,222 $9,790 5.29%
    <20% 8 $2,060,000 $257,500 $7,151 4.17%
    45% 8 $2,020,000 $252,500 $8,464 5.27%
    42% 7 $1,955,000 $279,286 $10,179 4.75%
    39% 7 $1,885,000 $269,286 $12,025 5.00%
    40% 7 $1,345,000 $192,143 $7,551 4.34%
    48% 7 $2,485,000 $355,000 $13,297 5.36%
    46% 5 $1,425,000 $285,000 $11,188 4.60%
    36% 5 $1,305,000 $261,000 $12,186 4.92%
    >60% 5 $1,625,000 $325,000 $8,048 4.78%

    Home Financing Center lent most frequently to those with DTI ratios of 50-60%, with 45 originations. The next most common DTI ratio? 30-36%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 233 $64,865,000 $278,391 $9,765 4.74%
    Black 40 $9,630,000 $240,750 $10,870 4.74%
    Asian 2 $550,000 $275,000 $10,888 4.63%
    Asian Indian 1 $135,000 $135,000 $7,848 5.88%
    Not provided 1 $115,000 $115,000 $4,521 4.13%

    Approval Rates

    Total approvals of all applications
    98.29%

    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
    96.03%

    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 277 $75,295,000 $271,823

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 277 $75,295,000 $271,823

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,260,000 $161,429 $6,097 4.15%
    40-60% 33 $5,425,000 $164,394 $6,628 4.28%
    60-80% 65 $17,555,000 $270,077 $8,430 4.50%
    80-100% 164 $49,970,000 $304,695 $11,504 4.98%
    Under 20% 1 $85,000 $85,000 $5,407 3.88%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    HOME FINANCING CENTER Conventional home mortgage Trouble during payment process 1 100.0%