Homebank Mortgage Rates, Fees & Info
Palmyra, MOLEI: 549300DFV63SJPNIII97
Tax ID: 43-0447990
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Mortgage Data
Review & Overview
Homebank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Homebank has a high proportion of conventional loans. Their top markets by origination volume include: Quincy, Hannibal, St. Louis, Columbia, and Mexico among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Homebank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Homebank is typically a low 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 | 6.47% | 4/28/24 |
| 30 Year Conventional Refi | 6.89% | 4/28/24 |
| 30 Year Cash-out Refi | 6.71% | 4/28/24 |
| 30 Year FHA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.18% | 4/28/24 |
| 15 Year Conventional Refi | 5.79% | 4/28/24 |
| 15 Year Cash-out Refi | 5.79% | 4/28/24 |
| 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. | ||
Homebank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
291Origination Dollar Volume (All Markets)
$45,555,000Awards
HomeBank - 2022
HomeBank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Quincy, IL-MO (FHA|USDA|VA) | 109 | $14,805,000 | $135,826 | $1,707 | 5.09% |
| Hannibal, MO (FHA|USDA|VA) | 92 | $14,010,000 | $152,283 | $1,350 | 4.95% |
| Outside of Metro Areas | 28 | $3,590,000 | $128,214 | $1,401 | 5.38% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 13 | $2,655,000 | $204,231 | $1,774 | 4.89% |
| COLUMBIA, MO (FHA|USDA|VA) | 13 | $2,495,000 | $191,923 | $1,561 | 4.96% |
| Mexico, MO (FHA|USDA|VA) | 14 | $2,180,000 | $155,714 | $1,838 | 5.46% |
| Kirksville, MO (FHA|USDA|VA) | 6 | $1,670,000 | $278,333 | $1,742 | 5.36% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $2,093 | 4.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $4,638 | 3.25% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $2,106 | 5.23% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,029 | 5.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,300 | 5.00% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $2,918 | 5.31% |
| Fairfield, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,819 | 3.88% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $753 | 4.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,605 | 4.38% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.88% |
| Moberly, MO (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $1,591 | 7.06% |
Similar Lenders
We use machine learning to identify the top lenders compared against HomeBank 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 | 291 | $45,555,000 | $156,546 | $1,616 | 5.07% |
For 2022, Homebank's most frequently originated type of loan was Conventional, with 291 originations.
Loan Reason
For 2022, Homebank's most frequently cited loan purpose was Home Purchase, with 181 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.
Loan Duration/Length
For 2022, Homebank's most frequently cited loan duration was 30 Year, with 115 originations. The 2nd most popular length was 15 Year, with 58 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 182 | $30,320,000 | $166,593 |
| $1k-2k | 1 | $355,000 | $355,000 |
Homebank's average total fees were $1,797, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 182 originations.
Interest Rates
During 2022, Homebank's average interest rate for loans was 5.08%, while their most frequently originated rate bucket for loans was 4-5%, with 113 originations.
Loan Sizing
2022 saw Homebank place emphasis on $100,000 or less loans with 112 originations, totaling $6,630,000 in origination value.
Applicant Income
Homebank lent most frequently to those with incomes in the $50k-75k range, with 51 originations. The second most popular income band? $50k or less, with 48 originations.
Applicant Debt to Income Ratio
Homebank lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.27%
Homebank has an average approval rate.
Pick Rate
Approvals leading to origination81.44%
Homebank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 291 | $45,555,000 | $156,546 |
LTV Distribution
Complaints
| 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% |