Homesale Mortgage Rates, Fees & Info

SUFFOLK, VA

LEI: 549300I316H4TE334G62

Tax ID: 46-2297312

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Mortgage Data

Review & Overview

Homesale Mortgage is a smaller mortgage company specializing in Home Purchase loans. Homesale Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: York, Lancaster, Lebanon, Harrisburg, and Baltimore among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Homesale Mortgage 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. Homesale 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 6.96% 3/28/24
30 Year Conventional Refi 6.92% 3/28/24
30 Year Cash-out Refi 6.76% 3/28/24
30 Year FHA Purchase 7.67% 3/28/24
30 Year VA Purchase 6.53% 3/28/24
30 Year USDA Purchase 7.39% 3/28/24
15 Year Conventional Purchase 6.56% 3/28/24
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.

Homesale Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Homesale Mortgage. 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

809

Origination Dollar Volume (All Markets)

$130,625,000

Awards

Homesale Mortgage VA Loans gold Homesale Mortgage VA Loans silver Homesale Mortgage VA Loans bronze Homesale Mortgage FHA Loans gold
Show all (4) 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
YORK-HANOVER, PA (FHA|USDA|VA) 260 $37,640,000 $144,769 $5,289 4.68%
LANCASTER, PA (FHA|USDA|VA) 211 $36,855,000 $174,668 $4,968 4.77%
LEBANON, PA (FHA|USDA|VA) 85 $13,885,000 $163,353 $4,791 4.73%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 72 $11,690,000 $162,361 $4,507 4.75%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 31 $8,455,000 $272,742 $5,500 4.74%
READING, PA (FHA|USDA|VA) 47 $6,995,000 $148,830 $5,168 4.75%
Pottsville, PA (FHA|USDA|VA) 46 $5,170,000 $112,391 $3,931 4.79%
GETTYSBURG, PA (FHA|USDA|VA) 29 $4,585,000 $158,103 $6,081 4.43%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 10 $1,890,000 $189,000 $5,626 4.44%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $1,395,000 $199,286 $5,093 4.82%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $820,000 $205,000 $3,964 5.03%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $330,000 $165,000 $4,019 4.81%
PITTSBURGH, PA (FHA|USDA|VA) 2 $290,000 $145,000 $5,269 4.50%
Outside of Metro Areas 1 $285,000 $285,000 $3,482 4.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,294 4.13%
Lewistown, PA (FHA|USDA|VA) 1 $125,000 $125,000 $5,640 4.00%
Homesale Mortgage's top markets include York, Lancaster, Lebanon, Harrisburg, and Baltimore among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Homesale Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    APL
    Similarity Rank: 32
    PATRIOT
    Similarity Rank: 42
    VISIONS
    Similarity Rank: 50
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 126
    Customers Bank
    Similarity Rank: 132
    Diamond Credit Union
    Similarity Rank: 225
    CORNING
    Similarity Rank: 252

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 429 $69,705,000 $162,483 $4,143 4.89%
    FHA 258 $39,510,000 $153,140 $6,427 4.57%
    VA 66 $13,670,000 $207,121 $4,973 4.65%
    USDA 56 $7,740,000 $138,214 $5,098 4.38%

    For 2018, Homesale Mortgage's most frequently originated type of loan was Conventional, with 429 originations. Their 2nd most popular type was FHA, with 258 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 791 $126,895,000 $160,424 $5,043 4.72%
    Refi 14 $3,110,000 $222,143 $4,833 4.73%
    Cash Out Refi 4 $620,000 $155,000 $3,405 5.00%

    For 2018, Homesale Mortgage's most frequently cited loan purpose was Home Purchase, with 791 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 745 $129,085,000 $173,268 $5,048 4.72%
    10 Year 56 $390,000 $6,964 $3,357 5.25%
    15 Year 4 $660,000 $165,000 $3,745 4.66%
    20 Year 3 $485,000 $161,667 $3,803 4.63%
    5 Year 1 $5,000 $5,000 $0 0.00%

    For 2018, Homesale Mortgage's most frequently cited loan duration was 30 Year, with 745 originations. The 2nd most popular length was 10 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 543 $92,635,000 $170,599
    $<1k 127 $20,525,000 $161,614
    $2k-3k 41 $8,735,000 $213,049
    $3k-4k 9 $2,345,000 $260,556
    $5k+ 9 $3,235,000 $359,444
    $4k-5k 6 $1,380,000 $230,000

    Homesale Mortgage's average total fees were $5,048, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 543 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 562 $100,900,000 $179,537
    5-6% 130 $18,630,000 $143,308
    3-4% 58 $10,620,000 $183,103
    6-7% 2 $190,000 $95,000

    During 2018, Homesale Mortgage's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 562 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 443 $66,675,000 $150,508 $4,867 4.72%
    $200k-400k 200 $50,330,000 $251,650 $5,520 4.67%
    $100,000 or less 153 $7,745,000 $50,621 $3,568 4.83%
    $400k-600k 13 $5,875,000 $451,923 $8,013 4.53%

    2018 saw Homesale Mortgage place emphasis on $100k-200k loans with 443 originations, totaling $66,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 301 $45,485,000 $151,113 $5,079 4.71%
    $50k or less 210 $20,790,000 $99,000 $4,315 4.69%
    $75k-100k 154 $28,080,000 $182,338 $5,248 4.75%
    $100k-150k 95 $22,765,000 $239,632 $5,295 4.74%
    $150k-250k 33 $9,265,000 $280,758 $5,290 4.73%
    $250k+ 9 $2,815,000 $312,778 $7,276 4.78%

    Homesale Mortgage lent most frequently to those with incomes in the $50k-75k range, with 301 originations. The second most popular income band? $50k or less, with 210 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 164 $25,910,000 $157,988 $5,035 4.68%
    20-30% 154 $25,760,000 $167,273 $4,641 4.75%
    <20% 71 $4,655,000 $65,563 $4,317 4.84%
    40% 35 $5,545,000 $158,429 $4,697 4.77%
    41% 35 $6,535,000 $186,714 $5,361 4.79%
    42% 34 $6,060,000 $178,235 $5,927 4.70%
    44% 31 $6,525,000 $210,484 $5,031 4.62%
    43% 31 $5,565,000 $179,516 $5,180 4.67%
    39% 30 $4,810,000 $160,333 $4,780 4.68%
    36% 30 $5,040,000 $168,000 $4,784 4.79%
    38% 30 $5,280,000 $176,000 $4,524 4.78%
    48% 28 $5,050,000 $180,357 $5,220 4.79%
    47% 27 $4,725,000 $175,000 $5,540 4.74%
    50-60% 26 $4,500,000 $173,077 $6,400 4.53%
    37% 25 $4,755,000 $190,200 $4,905 4.64%
    49% 21 $3,425,000 $163,095 $5,207 4.70%
    45% 19 $3,485,000 $183,421 $4,659 4.73%
    46% 18 $3,000,000 $166,667 $5,846 4.86%

    Homesale Mortgage lent most frequently to those with DTI ratios of 30-36%, with 164 originations. The next most common DTI ratio? 20-30%, with 154 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 751 $120,595,000 $160,579 $4,948 4.73%
    Asian 25 $4,805,000 $192,200 $5,508 4.74%
    Black 26 $4,130,000 $158,846 $7,179 4.50%
    Not provided 6 $940,000 $156,667 $5,346 4.63%
    American Indian 1 $155,000 $155,000 $5,054 5.00%

    Approval Rates

    Total approvals of all applications
    95.21%

    Homesale 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 origination
    80.47%

    Homesale Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 809 $130,625,000 $161,465

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 808 $130,500,000 $161,510

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $45,000 $45,000 $3,401 4.88%
    40-60% 16 $2,420,000 $151,250 $3,874 4.87%
    60-80% 127 $22,985,000 $180,984 $4,303 4.89%
    80-100% 591 $101,125,000 $171,108 $5,168 4.68%
    Over 100% 18 $3,770,000 $209,444 $6,900 4.55%
    Under 20% 56 $280,000 $5,000 $0 0.00%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    HomeKey Lending, LLC FHA mortgage Closing on a mortgage 1 100.0%