Welcome Home Finance L.p. Mortgage Rates, Fees & Info

Butler, PA

LEI: 549300GKMQB8BGTSPK09

Tax ID: 84-1674410

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
  • Complaints
  • 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

    Welcome Home Finance L.p. is a smaller mortgage company specializing in Home Purchase and Refi loans. Welcome Home Finance L.p. 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: Pittsburgh, Youngstown, Philadelphia, New Castle, and Indiana among others. We have data for 9 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 a below 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Welcome Home Finance L.p.. 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

    357

    Origination Dollar Volume (All Markets)

    $80,585,000
    Show all (9) 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
    PITTSBURGH, PA (FHA|USDA|VA) 328 $74,790,000 $228,018 $3,554 2.81%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 13 $2,765,000 $212,692 $3,843 2.83%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $790,000 $395,000 $4,094 2.81%
    Outside of Metro Areas 3 $735,000 $245,000 $2,895 2.58%
    New Castle, PA (FHA|USDA|VA) 3 $605,000 $201,667 $2,830 3.08%
    Indiana, PA (FHA|USDA|VA) 5 $585,000 $117,000 $1,970 2.71%
    Warren, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,319 3.38%
    Bradford, PA (FHA|USDA|VA) 1 $105,000 $105,000 $1,905 3.25%
    Somerset, PA (FHA|USDA|VA) 1 $75,000 $75,000 $4,023 2.38%
    Welcome Home Finance L.p.'s top markets include Pittsburgh, Youngstown, Philadelphia, New Castle, and Indiana among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)

    • 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.

    TRI BORO
    Similarity Rank: 208
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 414
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Standard Bank, PaSB
    Similarity Rank: 584
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 639
    Clear Mountain Bank
    Similarity Rank: 928
    AmeriServ Financial Bank
    Similarity Rank: 1120
    Community Bank
    Similarity Rank: 1260
    InFirst Bank
    Similarity Rank: 1450
    The Farmers National Bank of Emlenton
    Similarity Rank: 1476

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 324 $76,460,000 $235,988 $3,617 2.82%
    FHA 20 $2,750,000 $137,500 $3,385 2.79%
    USDA 13 $1,375,000 $105,769 $1,580 2.60%

    For 2021, Welcome Home Finance L.p.'s most frequently originated type of loan was Conventional, with 324 originations. Their 2nd most popular type was FHA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 283 $63,345,000 $223,834 $3,419 2.84%
    Refi 74 $17,240,000 $232,973 $3,953 2.69%

    For 2021, Welcome Home Finance L.p.'s most frequently cited loan purpose was Home Purchase, with 283 originations. The 2nd most popular reason was Refi, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 300 $67,380,000 $224,600 $3,452 2.87%
    15 Year 27 $6,605,000 $244,630 $4,081 2.39%
    20 Year 26 $5,590,000 $215,000 $3,787 2.68%
    10 Year 2 $190,000 $95,000 $2,973 2.12%
    Other 2 $820,000 $410,000 $5,061 2.75%

    For 2021, Welcome Home Finance L.p.'s most frequently cited loan duration was 30 Year, with 300 originations. The 2nd most popular length was 15 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 231 $55,335,000 $239,545
    $<1k 125 $24,805,000 $198,440
    $2k-3k 1 $445,000 $445,000

    Welcome Home Finance L.p.'s average total fees were $3,452, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 231 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 249 $57,555,000 $231,145
    <2.5% 59 $13,525,000 $229,237
    3-4% 49 $9,505,000 $193,980

    During 2021, Welcome Home Finance L.p.'s average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 249 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 152 $42,040,000 $276,579 $3,809 2.79%
    $100k-200k 149 $22,915,000 $153,792 $3,132 2.86%
    $400k-600k 29 $13,595,000 $468,793 $5,341 2.74%
    $100,000 or less 27 $2,035,000 $75,370 $2,209 2.77%

    2021 saw Welcome Home Finance L.p. place emphasis on $200k-400k loans with 152 originations, totaling $42,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 93 $17,045,000 $183,280 $3,049 2.85%
    $75k-100k 68 $15,670,000 $230,441 $3,619 2.84%
    $100k-150k 65 $17,715,000 $272,538 $3,803 2.81%
    $50k or less 63 $7,845,000 $124,524 $2,788 2.79%
    $150k-250k 59 $19,015,000 $322,288 $4,464 2.78%
    $250k+ 9 $3,295,000 $366,111 $4,929 2.62%

    Welcome Home Finance L.p. lent most frequently to those with incomes in the $50k-75k range, with 93 originations. The second most popular income band? $75k-100k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 116 $27,650,000 $238,362 $3,814 2.81%
    30-36% 71 $16,015,000 $225,563 $3,613 2.83%
    <20% 51 $11,435,000 $224,216 $3,498 2.79%
    42% 13 $2,775,000 $213,462 $2,865 2.89%
    39% 12 $2,750,000 $229,167 $3,489 2.77%
    43% 10 $1,850,000 $185,000 $3,700 2.86%
    37% 10 $1,690,000 $169,000 $3,313 2.76%
    40% 10 $2,550,000 $255,000 $3,201 2.90%
    41% 10 $2,300,000 $230,000 $3,842 2.78%
    44% 8 $1,070,000 $133,750 $2,458 2.68%
    46% 8 $1,730,000 $216,250 $3,591 2.86%
    49% 8 $1,870,000 $233,750 $3,861 2.69%
    36% 7 $1,415,000 $202,143 $1,801 2.89%
    38% 7 $1,585,000 $226,429 $2,291 2.88%
    45% 6 $1,370,000 $228,333 $2,701 2.83%
    47% 5 $1,305,000 $261,000 $3,869 2.70%
    48% 4 $1,030,000 $257,500 $4,056 3.03%
    50-60% 1 $195,000 $195,000 $3,480 2.50%

    Welcome Home Finance L.p. lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 326 $71,680,000 $219,877 $3,470 2.81%
    Not provided 14 $4,350,000 $310,714 $4,658 2.94%
    Asian 13 $3,445,000 $265,000 $3,595 2.74%
    Asian Indian 2 $560,000 $280,000 $3,899 2.25%
    Black 2 $550,000 $275,000 $4,673 3.13%

    Approval Rates

    Total approvals of all applications
    99.50%

    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 origination
    88.52%

    Welcome Home Finance L.p. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 357 $80,585,000 $225,728

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    357 $80,585,000 $225,728

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $95,000 $95,000 $3,465 2.63%
    40-60% 19 $4,825,000 $253,947 $4,173 2.68%
    60-80% 111 $26,655,000 $240,135 $3,887 2.77%
    80-100% 225 $48,925,000 $217,444 $3,302 2.85%
    Under 20% 1 $85,000 $85,000 $3,003 1.99%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    WALLICK AND VOLK, INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    WALLICK AND VOLK, INC VA mortgage Closing on a mortgage 1 50.0%