Welcome Home Finance L.p. Mortgage Rates, Fees & Info
Butler, PALEI: 549300GKMQB8BGTSPK09
Tax ID: 84-1674410
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Mortgage Data
Review & Overview
Welcome Home Finance L.p. is a smaller mortgage company specializing in Home Purchase loans. Welcome Home Finance L.p. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Pittsburgh, Indiana, and New Castle among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Welcome Home Finance L.p. 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. Welcome Home Finance L.p. 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 | 6.38% | 12/16/24 |
| 30 Year Conventional Refi | 6.64% | 12/16/24 |
| 30 Year FHA Purchase | 7.03% | 12/16/24 |
| 30 Year FHA Refi | 7.24% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.47% | 12/16/24 |
| 15 Year Conventional Purchase | 5.88% | 12/16/24 |
| 15 Year Conventional Refi | 5.98% | 12/16/24 |
| 15 Year Cash-out Refi | 5.98% | 12/16/24 |
| 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. | ||
Welcome Home Finance L.p. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
32Origination Dollar Volume (All Markets)
$4,120,000Awards
WELCOME HOME FINANCE L.P. - 2019
WELCOME HOME FINANCE L.P. is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 30 | $3,980,000 | $132,667 | $2,104 | 4.21% |
| Indiana, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $783 | 4.25% |
| New Castle, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,124 | 4.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against WELCOME HOME FINANCE L.P. 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 | 14 | $2,480,000 | $177,143 | $2,108 | 4.27% |
| USDA | 10 | $870,000 | $87,000 | $1,602 | 4.10% |
| FHA | 8 | $770,000 | $96,250 | $2,686 | 4.33% |
For 2019, Welcome Home Finance L.p.'s most frequently originated type of loan was Conventional, with 14 originations. Their 2nd most popular type was USDA, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 32 | $4,120,000 | $128,750 | $2,094 | 4.23% |
For 2019, Welcome Home Finance L.p.'s most frequently cited loan purpose was Home Purchase, with 32 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 32 | $4,120,000 | $128,750 | $2,094 | 4.23% |
For 2019, Welcome Home Finance L.p.'s most frequently cited loan duration was 30 Year, with 32 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 26 | $3,380,000 | $130,000 |
| $1k-2k | 6 | $740,000 | $123,333 |
Welcome Home Finance L.p.'s average total fees were $2,094, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 26 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 18 | $2,820,000 | $156,667 |
| 3-4% | 13 | $1,235,000 | $95,000 |
| 6-7% | 1 | $65,000 | $65,000 |
During 2019, Welcome Home Finance L.p.'s average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.
Loan Sizing
2019 saw Welcome Home Finance L.p. place emphasis on $100,000 or less loans with 16 originations, totaling $1,140,000 in origination value.
Applicant Income
Welcome Home Finance L.p. lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 8 originations.
Applicant Debt to Income Ratio
Welcome Home Finance L.p. lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 31 | $4,075,000 | $131,452 | $2,129 | 4.22% |
| Black | 1 | $45,000 | $45,000 | $1,032 | 4.50% |
Approval Rates
Total approvals of all applications97.14%
Welcome Home Finance L.p. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.75%
Welcome Home Finance L.p. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 32 | $4,120,000 | $128,750 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 32 | $4,120,000 | $128,750 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WILSON & ASSOCIATES, PLLC | FHA mortgage | Struggling to pay mortgage | 1 | 100.0% |