Hiway Mortgage Rates, Fees & Info
Saint Paul, MNLEI: 549300GMYQSCNQRCBL04
Tax ID: 41-0313750
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Hiway is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Hiway has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, Duluth, Mankato, and St. Cloud among others. We have data for 69 markets. (Some data included below & more in-depth data is available with an active subscription.)Hiway 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. Hiway 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.37% | 11/21/24 |
| 30 Year Conventional Purchase | 6.55% | 11/21/24 |
| 30 Year Conventional Refi | 6.53% | 11/21/24 |
| 30 Year Cash-out Refi | 6.57% | 11/21/24 |
| 30 Year FHA Purchase | 6.27% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 6.05% | 11/21/24 |
| 15 Year Conventional Refi | 5.98% | 11/21/24 |
| 15 Year Cash-out Refi | 5.98% | 11/21/24 |
| 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. | ||
Hiway Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Hiway. 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
1,577Origination Dollar Volume (All Markets)
$266,285,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1,285 | $223,775,000 | $174,144 | $3,403 | 3.03% |
| Outside of Metro Areas | 70 | $10,310,000 | $147,286 | $2,871 | 2.91% |
| Brainerd, MN (FHA|USDA|VA) | 21 | $4,795,000 | $228,333 | $2,995 | 2.77% |
| DULUTH, MN-WI (FHA|USDA|VA) | 31 | $3,745,000 | $120,806 | $2,616 | 3.07% |
| MANKATO, MN (FHA|USDA|VA) | 15 | $1,765,000 | $117,667 | $3,659 | 2.94% |
| ST. CLOUD, MN (FHA|USDA|VA) | 12 | $1,680,000 | $140,000 | $4,247 | 2.98% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $1,655,000 | $236,429 | $3,777 | 2.89% |
| Grand Rapids, MN (FHA|USDA|VA) | 9 | $1,425,000 | $158,333 | $2,686 | 2.71% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $6,128 | 2.85% |
| ROCHESTER, MN (FHA|USDA|VA) | 12 | $1,230,000 | $102,500 | $1,882 | 2.81% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $4,136 | 3.03% |
| Willmar, MN (FHA|USDA|VA) | 10 | $910,000 | $91,000 | $1,914 | 2.98% |
| Red Wing, MN (FHA|USDA|VA) | 6 | $890,000 | $148,333 | $4,393 | 2.92% |
| Alexandria, MN (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $3,498 | 2.81% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 6 | $710,000 | $118,333 | $2,952 | 2.98% |
| Fergus Falls, MN (FHA|USDA|VA) | 5 | $535,000 | $107,000 | $3,481 | 2.63% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $11,308 | 3.00% |
| Austin, MN (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $2,454 | 2.84% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,892 | 2.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $2,625 | 3.84% |
| Bemidji, MN (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $1,653 | 2.54% |
| Menomonie, WI (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $2,059 | 2.71% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $7,436 | 3.00% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,905 | 3.63% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,771 | 2.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,893 | 2.50% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,768 | 3.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,224 | 3.25% |
| Winona, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,894 | 3.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.88% |
| Fairmont, MN (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $2,971 | 3.58% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,091 | 2.25% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,712 | 3.00% |
| Newport, OR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,827 | 2.75% |
| Williston, ND (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,890 | 3.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,883 | 3.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $636 | 2.69% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,979 | 2.63% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,015 | 3.13% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $636 | 2.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,286 | 3.13% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,180 | 2.50% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $203 | 2.13% |
| Albert Lea, MN (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $4,013 | 2.38% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,923 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,058 | 2.50% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,280 | 2.50% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,024 | 3.00% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $636 | 2.63% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,567 | 3.13% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,720 | 3.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,873 | 2.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,958 | 3.13% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $134 | 2.92% |
| Worthington, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,555 | 3.25% |
| AMES, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,925 | 2.50% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,026 | 2.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $169 | 3.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $629 | 6.50% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $729 | 5.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $636 | 2.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $636 | 2.75% |
| Marshall, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,705 | 2.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $203 | 4.75% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $636 | 2.63% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 2.75% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $84 | 3.13% |
| RACINE, WI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $629 | 3.13% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against HIWAY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 303
Similarity Rank: 368
Similarity Rank: 464
Similarity Rank: 720
Similarity Rank: 826
Similarity Rank: 935
Similarity Rank: 1200
Similarity Rank: 1488
Similarity Rank: 1740
Similarity Rank: 1775
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,262 | $242,340,000 | $192,029 | $3,325 | 2.99% |
| HELOC | 315 | $23,945,000 | $76,016 | n/a | 3.10% |
For 2021, Hiway's most frequently originated type of loan was Conventional, with 1,262 originations. Their 2nd most popular type was HELOC, with 315 originations.
Loan Reason
For 2021, Hiway's most frequently cited loan purpose was Cash Out Refi, with 386 originations. The 2nd most popular reason was Refi, with 385 originations.
Loan Duration/Length
For 2021, Hiway's most frequently cited loan duration was 15 Year, with 658 originations. The 2nd most popular length was 30 Year, with 622 originations.
Origination Fees/Closing Costs
Hiway's average total fees were $4,537, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 624 originations.
Interest Rates
During 2021, Hiway's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 839 originations.
Loan Sizing
2021 saw Hiway place emphasis on $100k-200k loans with 537 originations, totaling $79,445,000 in origination value.
Applicant Income
Hiway lent most frequently to those with incomes in the $50k-75k range, with 398 originations. The second most popular income band? $100k-150k, with 374 originations.
Applicant Debt to Income Ratio
Hiway lent most frequently to those with DTI ratios of 20-30%, with 411 originations. The next most common DTI ratio? 30-36%, with 315 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.76%
Hiway has an average approval rate.
Pick Rate
Approvals leading to origination76.16%
Hiway has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,577 | $266,285,000 | $168,855 |