Home Federal Savings Bank Mortgage Rates, Fees & Info

Rochester, MN

LEI: 549300GHAXBE9Q7W9273

Tax ID: 41-0318319

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 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.

    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 5.84% 11/17/24
    30 Year Conventional Refi 6.53% 11/17/24
    30 Year Cash-out Refi 6.71% 11/17/24
    30 Year FHA Purchase 7.43% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 6.59% 11/17/24
    30 Year USDA Purchase 6.71% 11/17/24
    15 Year Conventional Purchase 6.18% 11/17/24
    15 Year Conventional Refi 6.15% 11/17/24
    15 Year Cash-out Refi 6.15% 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 Federal Savings Bank Mortgage Calculator






    Your Estimates

    Estimated 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™ 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

    694

    Origination Dollar Volume (All Markets)

    $150,600,000

    Awards

    Home Federal Savings Bank 30 Year Conventional Loans silver Home Federal Savings Bank FHA Loans silver
    Show all (2) awards

    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
    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%
    Home Federal Savings Bank's top markets include Rochester, Minneapolis, Albert Lea, Milwaukee, and Austin among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

    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.

    MEMBERS1st Community Credit Union
    Similarity Rank: 35
    CO-OP Credit Union
    Similarity Rank: 70
    NORTHWESTERN MUTUAL
    Similarity Rank: 70
    Empower Credit Union
    Similarity Rank: 81
    Firefighters Credit Union
    Similarity Rank: 90
    Glacier Hills Credit Union
    Similarity Rank: 200
    First Alliance Credit Union
    Similarity Rank: 248
    EDUCATORS CREDIT UNION
    Similarity Rank: 300
    MY Credit Union
    Similarity Rank: 304
    Blackhawk Community Credit Union
    Similarity Rank: 330

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 648 $141,050,000 $217,670 $2,864 4.57%
    FHA 35 $7,005,000 $200,143 $8,107 5.13%
    VA 6 $1,860,000 $310,000 $9,922 5.52%
    USDA 5 $685,000 $137,000 $5,380 5.35%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 425 $110,415,000 $259,800 $4,119 4.57%
    Refi 85 $18,675,000 $219,706 $1,941 4.54%
    Home Improvement 76 $3,430,000 $45,132 $494 5.01%
    Cash Out Refi 72 $14,990,000 $208,194 $4,277 4.09%
    Other 36 $3,090,000 $85,833 $594 5.54%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 405 $108,575,000 $268,086 $4,321 4.49%
    15 Year 92 $15,870,000 $172,500 $2,668 4.32%
    10 Year 68 $8,470,000 $124,559 $504 5.26%
    20 Year 47 $5,545,000 $117,979 $1,608 4.82%
    5 Year 39 $6,945,000 $178,077 $363 4.79%
    Other 33 $4,045,000 $122,576 $312 5.00%
    1 Year 10 $1,150,000 $115,000 $284 5.02%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 274 $31,900,000 $116,423
    $2k-3k 150 $46,030,000 $306,867
    $1k-2k 112 $17,050,000 $152,232
    $3k-4k 55 $18,165,000 $330,273
    $4k-5k 23 $10,615,000 $461,522
    $5k+ 19 $10,185,000 $536,053

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 216 $50,160,000 $232,222
    5-6% 183 $35,305,000 $192,923
    3-4% 126 $38,450,000 $305,159
    6-7% 92 $14,300,000 $155,435
    <2.5% 46 $1,990,000 $43,261
    2.5-3% 22 $9,320,000 $423,636
    7-8% 9 $1,075,000 $119,444

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 247 $10,425,000 $42,206 $793 4.25%
    $200k-400k 179 $48,785,000 $272,542 $4,889 4.72%
    $100k-200k 175 $25,685,000 $146,771 $3,857 5.10%
    $400k-600k 48 $23,010,000 $479,375 $5,617 4.57%
    $600k-1MM 30 $21,840,000 $728,000 $7,110 4.48%
    $1MM+ 15 $20,855,000 $1,390,333 $4,142 4.00%

    2022 saw Home Federal Savings Bank place emphasis on $100,000 or less loans with 247 originations, totaling $10,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 164 $21,180,000 $129,146 $2,846 4.46%
    $50k or less 141 $13,455,000 $95,426 $2,535 4.27%
    $100k-150k 107 $21,985,000 $205,467 $3,242 4.98%
    $75k-100k 102 $15,090,000 $147,941 $3,328 4.86%
    $250k+ 78 $48,250,000 $618,590 $4,534 4.43%
    $150k-250k 63 $18,975,000 $301,190 $4,232 4.85%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 136 $25,210,000 $185,368 $2,928 4.79%
    20-30% 127 $30,455,000 $239,803 $3,154 4.64%
    <20% 47 $14,215,000 $302,447 $3,266 4.58%
    41% 32 $4,410,000 $137,813 $3,520 3.46%
    37% 28 $5,080,000 $181,429 $2,807 4.68%
    42% 27 $4,695,000 $173,889 $3,085 5.16%
    39% 25 $6,215,000 $248,600 $3,198 4.77%
    40% 25 $3,335,000 $133,400 $2,516 5.08%
    36% 25 $4,235,000 $169,400 $2,454 4.48%
    44% 25 $5,025,000 $201,000 $3,564 4.46%
    48% 24 $3,880,000 $161,667 $4,071 4.13%
    43% 24 $3,380,000 $140,833 $3,300 4.19%
    45% 20 $3,740,000 $187,000 $4,175 4.67%
    49% 20 $4,520,000 $226,000 $4,314 4.73%
    38% 19 $4,645,000 $244,474 $3,339 4.84%
    46% 17 $3,225,000 $189,706 $3,918 4.33%
    47% 15 $3,905,000 $260,333 $4,599 4.54%
    50-60% 10 $5,570,000 $557,000 $3,435 4.92%
    >60% 2 $380,000 $190,000 $263 4.63%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 587 $117,575,000 $200,298 $3,141 4.62%
    Not provided 46 $15,010,000 $326,304 $4,158 4.34%
    Not applicable 35 $11,185,000 $319,571 $0 4.67%
    Black 13 $3,185,000 $245,000 $3,964 4.95%
    Asian 10 $2,120,000 $212,000 $4,169 4.35%
    Other Asian 1 $915,000 $915,000 $6,941 5.38%
    American Indian 2 $610,000 $305,000 $3,377 5.31%

    Approval Rates

    Total approvals of all applications
    93.69%

    Home Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.44%

    Home Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 694 $150,600,000 $217,003

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    694 $150,600,000 $217,003

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 93 $9,575,000 $102,957 $1,279 4.80%
    40-60% 47 $8,765,000 $186,489 $3,138 4.60%
    60-80% 182 $50,180,000 $275,714 $4,535 4.71%
    80-100% 224 $77,090,000 $344,152 $5,075 4.98%
    Over 100% 2 $640,000 $320,000 $16,278 5.31%
    Under 20% 146 $4,350,000 $29,795 $311 3.80%