Home Federal Savings Bank Mortgage Rates, Fees & InfoRochester, MN
Tax ID: 41-0318319
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewHome Federal Savings Bank is a smaller bank specializing in Home Purchase loans. Home Federal Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Rochester, Minneapolis, Albert Lea, Milwaukee, and Austin among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)
Home Federal Savings Bank 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. Home Federal Savings Bank 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||5.84%||5/28/23|
|30 Year Conventional Refi||6.53%||5/28/23|
|30 Year Cash-out Refi||6.71%||5/28/23|
|30 Year FHA Purchase||7.43%||5/28/23|
|30 Year FHA Refi||6.27%||5/28/23|
|30 Year VA Purchase||6.59%||5/28/23|
|30 Year USDA Purchase||6.71%||5/28/23|
|15 Year Conventional Purchase||6.18%||5/28/23|
|15 Year Conventional Refi||6.15%||5/28/23|
|15 Year Cash-out Refi||6.15%||5/28/23|
|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 Federal Savings Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Home Federal Savings Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$150,600,000
Home Federal Savings Bank - 2022
Home Federal Savings Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Home Federal Savings Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.27%.
Relative Fees (Closing Costs)
Home Federal Savings Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,321.
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 $4,750.
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|
|ROCHESTER, MN (FHA|USDA|VA)||315||$79,515,000||$252,429||$3,369||4.51%|
|MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)||53||$16,065,000||$303,113||$4,248||4.63%|
|Albert Lea, MN (FHA|USDA|VA)||79||$7,795,000||$98,671||$2,631||5.07%|
|MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)||16||$7,780,000||$486,250||$2,485||4.50%|
|Austin, MN (FHA|USDA|VA)||59||$7,525,000||$127,542||$3,039||4.61%|
|LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)||29||$6,835,000||$235,690||$1,948||4.80%|
|Winona, MN (FHA|USDA|VA)||37||$4,485,000||$121,216||$2,453||4.85%|
|Outside of Metro Areas||28||$4,090,000||$146,071||$3,481||4.95%|
|Owatonna, MN (FHA|USDA|VA)||18||$3,650,000||$202,778||$2,942||4.92%|
|Red Wing, MN (FHA|USDA|VA)||12||$2,160,000||$180,000||$2,889||4.36%|
|Brainerd, MN (FHA|USDA|VA)||2||$1,820,000||$910,000||$6,640||4.63%|
|MANKATO, MN (FHA|USDA|VA)||15||$1,725,000||$115,000||$3,891||2.76%|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||6||$1,170,000||$195,000||$0||3.93%|
|Beaver Dam, WI (FHA|USDA|VA)||2||$780,000||$390,000||$1,164||6.00%|
|Marshalltown, IA (FHA|USDA|VA)||5||$595,000||$119,000||$2,666||3.78%|
|Grand Rapids, MN (FHA|USDA|VA)||1||$535,000||$535,000||$8,801||5.38%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||1||$445,000||$445,000||$7,406||6.00%|
|SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA)||1||$415,000||$415,000||$14,435||4.75%|
|Watertown-Fort Atkinson, WI (FHA|USDA|VA)||1||$365,000||$365,000||$0||3.69%|
|PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)||1||$365,000||$365,000||$0||4.38%|
|EAU CLAIRE, WI (FHA|USDA|VA)||1||$355,000||$355,000||$643||4.00%|
|Marshall, MN (FHA|USDA|VA)||2||$330,000||$165,000||$3,459||4.13%|
|FARGO, ND-MN (FHA|USDA|VA)||1||$325,000||$325,000||$6,109||4.25%|
|Alexandria, MN (FHA|USDA|VA)||1||$265,000||$265,000||$5,348||4.38%|
|DULUTH, MN-WI (FHA|USDA|VA)||1||$265,000||$265,000||$5,038||5.25%|
|WAUSAU-WESTON, WI (FHA|USDA|VA)||1||$265,000||$265,000||$6,701||5.00%|
|RACINE, WI (FHA|USDA|VA)||1||$205,000||$205,000||$0||6.79%|
|Faribault-Northfield, MN (FHA|USDA|VA)||2||$200,000||$100,000||$2,367||6.25%|
|New Ulm, MN (FHA|USDA|VA)||2||$180,000||$90,000||$3,514||3.50%|
|Muscatine, IA (FHA|USDA|VA)||1||$95,000||$95,000||$0||5.13%|
We use machine learning to identify the top lenders compared against Home Federal Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Home Federal Savings Bank's most frequently originated type of loan was Conventional, with 648 originations. Their 2nd most popular type was FHA, with 35 originations.
For 2022, Home Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 425 originations. The 2nd most popular reason was Refi, with 85 originations.
For 2022, Home Federal Savings Bank's most frequently cited loan duration was 30 Year, with 405 originations. The 2nd most popular length was 15 Year, with 92 originations.
Origination Fees/Closing Costs
Home Federal Savings Bank's average total fees were $4,321, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 274 originations.
During 2022, Home Federal Savings Bank's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 216 originations.
2022 saw Home Federal Savings Bank place emphasis on $100,000 or less loans with 247 originations, totaling $10,425,000 in origination value.
Home Federal Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 164 originations. The second most popular income band? $50k or less, with 141 originations.
Applicant Debt to Income Ratio
Home Federal Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 136 originations. The next most common DTI ratio? 20-30%, with 127 originations.
Approval RatesTotal approvals of all applications
Home Federal Savings Bank has an average approval rate.
Pick RateApprovals leading to origination
Home Federal Savings Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|