Hometown Bank Mortgage Rates, Fees & Info
Oxford, MALEI: 549300HLPEQ31HY26E57
Tax ID: 04-1953445
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Hometown Bank is a smaller bank specializing in Home Purchase loans. Hometown Bank has a high proportion of conventional loans. Their top (well, only) market is Worcester.Hometown Bank 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.
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Originations
8Origination Dollar Volume (All Markets)
$5,930,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 8 | $5,930,000 | $741,250 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 8 | $5,930,000 | $741,250 | $0 | 0.00% |
For 2023, Hometown Bank's most frequently originated type of loan was Conventional, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 7 | $5,525,000 | $789,286 | $0 | 0.00% |
| Home Improvement | 1 | $405,000 | $405,000 | $0 | 0.00% |
For 2023, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Home Improvement, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 8 | $5,930,000 | $741,250 | $0 | 0.00% |
For 2023, Hometown Bank's most frequently cited loan duration was Other, with 8 originations.
Loan Sizing
2023 saw Hometown Bank place emphasis on $200k-400k loans with 3 originations, totaling $1,035,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 8 | $5,930,000 | $741,250 | $0 | 0.00% |
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 8 | $5,930,000 | $741,250 | $0 | 0.00% |
Approval Rates
Total approvals of all applications99.83%
Hometown Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination75.00%
Hometown Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 8 | $5,930,000 | $741,250 |