Homeway Mortgage Rates, Fees & Info
KATY, TXLEI: 549300HERTPSZ6EH0667
Tax ID: 41-2062039
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Mortgage Data
Review & Overview
Homeway Mortgage is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Homeway Mortgage 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.) Their top markets by origination volume include: Houston, San Antonio, Dallas, Fredericksburg, and Cape Coral among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Homeway Mortgage has an above average approval rate when compared to the average across all lenders. Homeway Mortgage is typically an average 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 | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 30 Year FHA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Homeway Mortgage Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
177Origination Dollar Volume (All Markets)
$43,745,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 156 | $39,340,000 | $252,179 | $5,098 | 3.05% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $4,403 | 3.31% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $3,935 | 2.65% |
| Outside of Metro Areas | 4 | $700,000 | $175,000 | $4,410 | 2.91% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,142 | 4.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,986 | 2.63% |
| El Campo, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,669 | 3.38% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,160 | 2.99% |
| MONROE, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,058 | 3.25% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,212 | 2.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,184 | 2.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against HOMEWAY MORTGAGE 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 | 164 | $40,090,000 | $244,451 | $4,684 | 3.06% |
| FHA | 8 | $2,010,000 | $251,250 | $9,276 | 2.92% |
| VA | 5 | $1,645,000 | $329,000 | $8,733 | 2.88% |
For 2021, Homeway Mortgage's most frequently originated type of loan was Conventional, with 164 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
For 2021, Homeway Mortgage's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Refi, with 60 originations.
Loan Duration/Length
For 2021, Homeway Mortgage's most frequently cited loan duration was 30 Year, with 143 originations. The 2nd most popular length was 15 Year, with 30 originations.
Origination Fees/Closing Costs
Homeway Mortgage's average total fees were $5,158, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 134 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 75 | $18,375,000 | $245,000 |
| 2.5-3% | 74 | $19,850,000 | $268,243 |
| <2.5% | 22 | $4,330,000 | $196,818 |
| 4-5% | 6 | $1,190,000 | $198,333 |
During 2021, Homeway Mortgage's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 3-4%, with 75 originations.
Loan Sizing
2021 saw Homeway Mortgage place emphasis on $200k-400k loans with 93 originations, totaling $24,695,000 in origination value.
Applicant Income
Homeway Mortgage lent most frequently to those with incomes in the $75k-100k range, with 47 originations. The second most popular income band? $150k-250k, with 43 originations.
Applicant Debt to Income Ratio
Homeway Mortgage lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Homeway Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 177 | $43,745,000 | $247,147 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Home American Mortgage Corp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| Home American Mortgage Corp | Conventional home mortgage | Closing on a mortgage | 3 | 42.9% |
| Home American Mortgage Corp | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| Home American Mortgage Corp | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| Home American Mortgage Corp | VA mortgage | Closing on a mortgage | 1 | 14.3% |