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

Butler, PA

LEI: 549300GKMQB8BGTSPK09

Tax ID: 84-1674410

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

    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. They have a low ratio of USDA loans. Their top markets by origination volume include: Pittsburgh, Youngstown, Somerset, Indiana, and New Castle among others. We have data for 11 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.

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    Originations

    335

    Origination Dollar Volume (All Markets)

    $73,075,000
    Show all (5) 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) 290 $65,330,000 $225,276 $4,355 6.47%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 13 $2,825,000 $217,308 $4,973 6.43%
    Somerset, PA (FHA|USDA|VA) 8 $1,640,000 $205,000 $3,385 6.56%
    Outside of Metro Areas 10 $1,240,000 $124,000 $3,423 6.47%
    Indiana, PA (FHA|USDA|VA) 5 $665,000 $133,000 $3,306 6.48%
    New Castle, PA (FHA|USDA|VA) 4 $660,000 $165,000 $6,824 6.56%
    TOLEDO, OH (FHA|USDA|VA) 1 $195,000 $195,000 $2,977 6.13%
    AKRON, OH (FHA|USDA|VA) 1 $165,000 $165,000 $3,591 6.13%
    Warren, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,799 6.50%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $115,000 $115,000 $1,946 7.25%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $115,000 $115,000 $2,043 5.88%
    Welcome Home Finance L.p.'s top markets include Pittsburgh, Youngstown, Somerset, Indiana, and New Castle among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Ohio (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: 24
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 77
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 128
    InFirst Bank
    Similarity Rank: 300
    AmeriServ Financial Bank
    Similarity Rank: 384
    Washington Financial Bank
    Similarity Rank: 510
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 570
    Community Bank
    Similarity Rank: 572
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 572
    1st Summit Bank
    Similarity Rank: 1026

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 245 $57,295,000 $233,857 $4,068 6.54%
    FHA 82 $14,830,000 $180,854 $5,284 6.28%
    USDA 8 $950,000 $118,750 $2,130 6.09%

    For 2023, Welcome Home Finance L.p.'s most frequently originated type of loan was Conventional, with 245 originations. Their 2nd most popular type was FHA, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 324 $71,530,000 $220,772 $4,263 6.47%
    Refi 10 $1,430,000 $143,000 $5,891 6.50%
    Cash Out Refi 1 $115,000 $115,000 $7,126 6.00%

    For 2023, Welcome Home Finance L.p.'s most frequently cited loan purpose was Home Purchase, with 324 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 325 $69,715,000 $214,508 $4,328 6.48%
    15 Year 9 $3,075,000 $341,667 $4,482 5.93%
    10 Year 1 $285,000 $285,000 $0 7.00%

    For 2023, Welcome Home Finance L.p.'s most frequently cited loan duration was 30 Year, with 325 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 160 $38,170,000 $238,563
    $<1k 136 $24,800,000 $182,353
    $2k-3k 15 $3,045,000 $203,000
    $5k+ 11 $4,075,000 $370,455
    $3k-4k 10 $2,040,000 $204,000
    $4k-5k 3 $945,000 $315,000

    Welcome Home Finance L.p.'s average total fees were $4,328, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 160 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 209 $45,045,000 $215,526
    5-6% 84 $18,590,000 $221,310
    7-8% 42 $9,440,000 $224,762

    During 2023, Welcome Home Finance L.p.'s average interest rate for loans was 6.48%, while their most frequently originated rate bucket for loans was 6-7%, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 139 $20,795,000 $149,604 $3,381 6.42%
    $200k-400k 127 $34,665,000 $272,953 $5,121 6.51%
    $100,000 or less 42 $3,290,000 $78,333 $3,067 6.54%
    $400k-600k 20 $9,530,000 $476,500 $7,606 6.42%
    $600k-1MM 7 $4,795,000 $685,000 $6,545 6.39%

    2023 saw Welcome Home Finance L.p. place emphasis on $100k-200k loans with 139 originations, totaling $20,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 105 $17,025,000 $162,143 $3,742 6.40%
    $100k-150k 62 $17,280,000 $278,710 $5,079 6.45%
    $75k-100k 62 $12,600,000 $203,226 $4,307 6.56%
    $50k or less 53 $6,195,000 $116,887 $3,055 6.38%
    $150k-250k 41 $14,175,000 $345,732 $5,764 6.65%
    $250k+ 12 $5,800,000 $483,333 $6,170 6.49%

    Welcome Home Finance L.p. lent most frequently to those with incomes in the $50k-75k range, with 105 originations. The second most popular income band? $100k-150k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $15,800,000 $254,839 $4,427 6.38%
    30-36% 51 $11,475,000 $225,000 $4,285 6.47%
    50-60% 33 $6,565,000 $198,939 $5,469 6.30%
    <20% 21 $3,235,000 $154,048 $3,263 6.30%
    41% 15 $2,755,000 $183,667 $3,656 6.53%
    47% 13 $2,975,000 $228,846 $4,486 6.45%
    43% 13 $2,765,000 $212,692 $3,800 6.63%
    49% 13 $3,045,000 $234,231 $4,737 6.91%
    38% 13 $3,185,000 $245,000 $5,080 6.47%
    36% 12 $2,370,000 $197,500 $3,096 6.72%
    40% 12 $2,490,000 $207,500 $3,142 6.43%
    44% 12 $2,020,000 $168,333 $4,893 6.44%
    46% 12 $2,640,000 $220,000 $3,739 6.63%
    37% 12 $2,900,000 $241,667 $4,254 6.52%
    39% 11 $2,745,000 $249,545 $4,956 6.60%
    42% 10 $2,370,000 $237,000 $4,571 6.60%
    48% 10 $1,730,000 $173,000 $3,987 6.74%
    45% 10 $2,010,000 $201,000 $4,528 6.12%

    Welcome Home Finance L.p. lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 315 $68,145,000 $216,333 $4,266 6.47%
    Asian 7 $2,085,000 $297,857 $5,530 6.05%
    Not provided 5 $1,405,000 $281,000 $6,250 6.75%
    Black 7 $1,025,000 $146,429 $3,950 6.57%
    Asian Indian 1 $415,000 $415,000 $5,752 5.50%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    85.97%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 335 $73,075,000 $218,134

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    335 $73,075,000 $218,134

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $130,000 $65,000 $3,531 5.88%
    40-60% 24 $4,700,000 $195,833 $4,672 6.33%
    60-80% 71 $15,895,000 $223,873 $4,548 6.59%
    80-100% 238 $52,350,000 $219,958 $4,223 6.45%