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 and Refi loans. Home Financing Center has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Miami, Orlando, Port St. Lucie, Tampa, and Cape Coral among others. We have data for 15 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 an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.48% | 4/22/24 |
| 30 Year Conventional Refi | 6.69% | 4/22/24 |
| 30 Year Cash-out Refi | 7.10% | 4/22/24 |
| 30 Year FHA Purchase | 8.31% | 4/22/24 |
| 15 Year Conventional Refi | 6.29% | 4/22/24 |
| 15 Year Cash-out Refi | 6.29% | 4/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
556Origination Dollar Volume (All Markets)
$153,030,000Top 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) | 525 | $145,285,000 | $276,733 | $7,191 | 3.23% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $5,992 | 3.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 5 | $925,000 | $185,000 | $8,262 | 2.80% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $9,743 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $5,482 | 3.16% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $8,948 | 3.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,655 | 2.69% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $7,770 | 4.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,928 | 3.25% |
| Key West, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $6,616 | 2.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,789 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,881 | 2.63% |
| OCALA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,515 | 3.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,212 | 2.88% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,527 | 4.25% |
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 |
|---|---|---|---|---|---|
| Conventional | 422 | $111,880,000 | $265,118 | $5,665 | 3.10% |
| FHA | 132 | $40,480,000 | $306,667 | $12,062 | 3.64% |
| VA | 2 | $670,000 | $335,000 | $8,279 | 2.88% |
For 2020, Home Financing Center's most frequently originated type of loan was Conventional, with 422 originations. Their 2nd most popular type was FHA, with 132 originations.
Loan Reason
For 2020, Home Financing Center's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Refi, with 173 originations.
Loan Duration/Length
For 2020, Home Financing Center's most frequently cited loan duration was 30 Year, with 433 originations. The 2nd most popular length was 15 Year, with 76 originations.
Origination Fees/Closing Costs
Home Financing Center's average total fees were $7,895, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 155 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 224 | $61,980,000 | $276,696 |
| 3-4% | 221 | $62,355,000 | $282,149 |
| <2.5% | 54 | $12,470,000 | $230,926 |
| 4-5% | 48 | $14,050,000 | $292,708 |
| 5-6% | 7 | $1,715,000 | $245,000 |
During 2020, Home Financing Center's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 2.5-3%, with 224 originations.
Loan Sizing
2020 saw Home Financing Center place emphasis on $200k-400k loans with 351 originations, totaling $103,375,000 in origination value.
Applicant Income
Home Financing Center lent most frequently to those with incomes in the $50k-75k range, with 154 originations. The second most popular income band? $100k-150k, with 142 originations.
Applicant Debt to Income Ratio
Home Financing Center lent most frequently to those with DTI ratios of 20-30%, with 102 originations. The next most common DTI ratio? 30-36%, with 76 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.23%
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 origination99.10%
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 | 556 | $153,030,000 | $275,234 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 556 | $153,030,000 | $275,234 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HOME FINANCING CENTER | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| HOME FINANCING CENTER | FHA mortgage | Trouble during payment process | 2 | 66.7% |