Home Federal Savings Bank Mortgage Rates, Fees & Info

Rochester, MN

LEI: 549300GHAXBE9Q7W9273

Tax ID: 41-0318319

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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, Austin, La Crosse, and Albert Lea among others. We have data for 32 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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    Originations

    590

    Origination Dollar Volume (All Markets)

    $161,720,000
    Show all (8) 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) 312 $100,460,000 $321,987 $3,726 5.91%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 36 $14,030,000 $389,722 $5,290 6.46%
    Austin, MN (FHA|USDA|VA) 49 $7,275,000 $148,469 $3,345 6.14%
    Outside of Metro Areas 38 $7,230,000 $190,263 $3,588 6.34%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 26 $5,820,000 $223,846 $2,778 6.78%
    Albert Lea, MN (FHA|USDA|VA) 43 $4,095,000 $95,233 $2,332 6.81%
    EAU CLAIRE, WI (FHA|USDA|VA) 10 $3,570,000 $357,000 $4,255 6.44%
    Winona, MN (FHA|USDA|VA) 25 $3,455,000 $138,200 $2,707 6.49%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 5 $3,035,000 $607,000 $3,303 6.75%
    RAPID CITY, SD (FHA|USDA|VA) 3 $1,895,000 $631,667 $5,172 5.75%
    Menomonie, WI (FHA|USDA|VA) 4 $1,380,000 $345,000 $6,252 6.78%
    Alexandria, MN (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $7,724 6.38%
    OCALA, FL (FHA|USDA|VA) 1 $855,000 $855,000 $8,739 5.75%
    Marshalltown, IA (FHA|USDA|VA) 8 $830,000 $103,750 $2,036 6.92%
    MANKATO, MN (FHA|USDA|VA) 5 $735,000 $147,000 $4,519 5.50%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $725,000 $725,000 $8,768 7.25%
    Red Wing, MN (FHA|USDA|VA) 3 $715,000 $238,333 $3,807 6.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $535,000 $535,000 $15,046 6.38%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $475,000 $475,000 $2,728 6.75%
    Owatonna, MN (FHA|USDA|VA) 4 $420,000 $105,000 $1,908 6.66%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $365,000 $365,000 $6,826 6.63%
    Fergus Falls, MN (FHA|USDA|VA) 1 $355,000 $355,000 $6,162 6.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $355,000 $355,000 $7,955 5.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,556 7.63%
    Baraboo, WI (FHA|USDA|VA) 1 $335,000 $335,000 $6,186 6.00%
    Stevens Point, WI (FHA|USDA|VA) 2 $330,000 $165,000 $3,074 6.38%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 6.88%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $255,000 $255,000 $694 6.25%
    Marshall, MN (FHA|USDA|VA) 1 $155,000 $155,000 $2,138 6.75%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $145,000 $145,000 $5,036 6.75%
    New Ulm, MN (FHA|USDA|VA) 2 $110,000 $55,000 $2,983 7.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $2,771 5.88%
    Home Federal Savings Bank's top markets include Rochester, Minneapolis, Austin, La Crosse, and Albert Lea among others.

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

    CO-OP Credit Union
    Similarity Rank: 28
    MEMBERS1st Community Credit Union
    Similarity Rank: 40
    NORTHWESTERN MUTUAL
    Similarity Rank: 44
    Glacier Hills Credit Union
    Similarity Rank: 54
    South Metro Federal Credit Union
    Similarity Rank: 55
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 80
    National Exchange Bank and Trust
    Similarity Rank: 112
    Citizens Bank
    Similarity Rank: 192
    Empower Credit Union
    Similarity Rank: 203
    MY Credit Union
    Similarity Rank: 225

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 558 $155,510,000 $278,692 $3,401 6.14%
    FHA 25 $4,885,000 $195,400 $8,267 6.83%
    USDA 5 $715,000 $143,000 $4,757 6.75%
    VA 2 $610,000 $305,000 $9,909 7.00%

    For 2023, Home Federal Savings Bank's most frequently originated type of loan was Conventional, with 558 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 440 $147,360,000 $334,909 $4,547 5.89%
    Home Improvement 66 $3,320,000 $50,303 $556 6.64%
    Refi 35 $7,295,000 $208,429 $1,460 7.19%
    Other 34 $1,570,000 $46,176 $452 7.79%
    Cash Out Refi 15 $2,175,000 $145,000 $3,766 6.79%

    For 2023, Home Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 440 originations. The 2nd most popular reason was Home Improvement, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 420 $141,990,000 $338,071 $4,757 5.86%
    10 Year 47 $3,845,000 $81,809 $316 7.35%
    15 Year 46 $7,090,000 $154,130 $1,554 6.80%
    20 Year 35 $1,885,000 $53,857 $912 6.21%
    5 Year 19 $2,055,000 $108,158 $306 7.39%
    Other 15 $2,905,000 $193,667 $617 7.60%
    1 Year 7 $1,775,000 $253,571 $492 6.86%
    3 Year 1 $175,000 $175,000 $297 6.75%

    For 2023, Home Federal Savings Bank's most frequently cited loan duration was 30 Year, with 420 originations. The 2nd most popular length was 10 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 207 $20,835,000 $100,652
    $2k-3k 143 $53,935,000 $377,168
    $1k-2k 128 $33,200,000 $259,375
    $3k-4k 50 $26,250,000 $525,000
    $5k+ 22 $11,910,000 $541,364
    $4k-5k 20 $9,080,000 $454,000

    Home Federal Savings Bank's average total fees were $4,757, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 207 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 242 $65,600,000 $271,074
    5-6% 147 $53,875,000 $366,497
    7-8% 105 $16,635,000 $158,429
    4-5% 40 $23,150,000 $578,750
    <2.5% 28 $400,000 $14,286
    Over 8% 28 $2,060,000 $73,571

    During 2023, Home Federal Savings Bank's average interest rate for loans was 5.86%, while their most frequently originated rate bucket for loans was 6-7%, with 242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 186 $7,320,000 $39,355 $786 5.94%
    $200k-400k 150 $42,800,000 $285,333 $4,882 6.32%
    $100k-200k 124 $19,060,000 $153,710 $3,799 6.66%
    $400k-600k 63 $29,365,000 $466,111 $5,919 6.08%
    $600k-1MM 45 $34,525,000 $767,222 $6,575 5.74%
    $1MM+ 22 $28,650,000 $1,302,273 $6,065 5.77%

    2023 saw Home Federal Savings Bank place emphasis on $100,000 or less loans with 186 originations, totaling $7,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 142 $19,350,000 $136,268 $2,780 5.99%
    $250k+ 101 $67,895,000 $672,228 $5,585 6.00%
    $100k-150k 99 $20,325,000 $205,303 $3,529 6.68%
    $75k-100k 95 $15,515,000 $163,316 $3,213 6.67%
    $50k or less 73 $8,285,000 $113,493 $2,458 5.39%
    $150k-250k 67 $24,865,000 $371,119 $4,566 6.31%

    Home Federal Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 142 originations. The second most popular income band? $250k+, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 127 $35,855,000 $282,323 $3,204 6.18%
    30-36% 121 $34,705,000 $286,818 $3,703 6.16%
    <20% 60 $25,430,000 $423,833 $4,217 6.09%
    42% 28 $4,240,000 $151,429 $2,679 6.51%
    43% 25 $5,105,000 $204,200 $3,876 5.79%
    41% 24 $3,630,000 $151,250 $2,589 6.57%
    39% 20 $3,720,000 $186,000 $3,138 6.14%
    40% 20 $3,800,000 $190,000 $3,390 6.08%
    46% 19 $4,815,000 $253,421 $4,140 6.25%
    47% 18 $5,510,000 $306,111 $4,386 6.38%
    37% 18 $2,350,000 $130,556 $3,329 6.78%
    45% 17 $3,915,000 $230,294 $4,544 6.30%
    49% 16 $4,470,000 $279,375 $5,419 5.48%
    48% 16 $3,680,000 $230,000 $5,004 6.02%
    44% 15 $2,555,000 $170,333 $3,323 5.62%
    38% 14 $3,980,000 $284,286 $4,221 6.54%
    36% 12 $3,370,000 $280,833 $3,902 5.95%
    50-60% 6 $2,560,000 $426,667 $1,945 5.54%
    >60% 6 $3,880,000 $646,667 $4,135 6.55%

    Home Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 127 originations. The next most common DTI ratio? 30-36%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 498 $120,160,000 $241,285 $3,465 6.22%
    Not provided 46 $21,110,000 $458,913 $4,867 6.00%
    Asian 26 $10,410,000 $400,385 $4,081 5.79%
    Not applicable 6 $3,960,000 $660,000 $0 7.06%
    Black 9 $3,805,000 $422,778 $6,002 5.28%
    Asian Indian 2 $1,750,000 $875,000 $6,251 5.25%
    American Indian 2 $470,000 $235,000 $4,237 7.38%
    Native Hawaiian or Islander 1 $55,000 $55,000 $329 7.25%

    Approval Rates

    Total approvals of all applications
    90.08%

    Home Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.58%

    Home Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 590 $161,720,000 $274,102

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    590 $161,720,000 $274,102

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $4,060,000 $101,500 $1,183 6.80%
    40-60% 49 $9,995,000 $203,980 $3,186 6.45%
    60-80% 112 $36,510,000 $325,982 $4,387 6.46%
    80-100% 261 $106,985,000 $409,904 $5,442 6.21%
    Under 20% 128 $4,170,000 $32,578 $346 5.58%