Homesale Mortgage Rates, Fees & Info

SUFFOLK, VA

LEI: 549300I316H4TE334G62

Tax ID: 46-2297312

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Homesale Mortgage is a smaller mortgage company specializing in Home Purchase loans. Homesale Mortgage 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: Lancaster, Baltimore, York, Harrisburg, and Lebanon among others. We have data for 25 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% 12/3/24
    30 Year Conventional Refi 6.92% 12/3/24
    30 Year Cash-out Refi 6.76% 12/3/24
    30 Year FHA Purchase 7.67% 12/3/24
    30 Year VA Purchase 6.53% 12/3/24
    30 Year USDA Purchase 7.39% 12/3/24
    15 Year Conventional Purchase 6.56% 12/3/24
    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

    1,303

    Origination Dollar Volume (All Markets)

    $264,485,000
    Show all (21) 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
    LANCASTER, PA (FHA|USDA|VA) 336 $68,530,000 $203,958 $4,400 2.86%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 229 $65,525,000 $286,135 $4,700 3.08%
    YORK-HANOVER, PA (FHA|USDA|VA) 245 $42,025,000 $171,531 $4,593 2.85%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 143 $26,325,000 $184,091 $4,724 2.91%
    LEBANON, PA (FHA|USDA|VA) 96 $17,170,000 $178,854 $5,149 2.92%
    READING, PA (FHA|USDA|VA) 80 $14,080,000 $176,000 $4,648 2.97%
    Pottsville, PA (FHA|USDA|VA) 83 $10,445,000 $125,843 $4,451 2.68%
    GETTYSBURG, PA (FHA|USDA|VA) 34 $6,340,000 $186,471 $5,452 2.77%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 12 $4,300,000 $358,333 $4,889 2.98%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 12 $3,600,000 $300,000 $5,154 3.02%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 12 $2,480,000 $206,667 $5,106 2.78%
    DuBois, PA (FHA|USDA|VA) 6 $1,050,000 $175,000 $4,533 2.28%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $805,000 $268,333 $3,897 2.83%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $265,000 $265,000 $3,852 2.25%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.63%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,934 2.88%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $175,000 $175,000 $3,918 2.88%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.63%
    Lewistown, PA (FHA|USDA|VA) 1 $155,000 $155,000 $3,474 2.75%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,351 2.88%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $115,000 $115,000 $4,118 2.75%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $115,000 $115,000 $2,718 3.00%
    Sunbury, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,406 3.25%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,244 2.88%
    Somerset, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,360 2.88%
    Homesale Mortgage's top markets include Lancaster, Baltimore, York, Harrisburg, and Lebanon among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (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.

    First Commonwealth Federal Credit Union
    Similarity Rank: 210
    First Citizens Community Bank
    Similarity Rank: 217
    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 234
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    BELLCO
    Similarity Rank: 354
    LEBANON
    Similarity Rank: 405
    EVERENCE FEDERAL CREDIT UNION
    Similarity Rank: 544
    PATRIOT
    Similarity Rank: 629
    Sail Mortgage Corp.
    Similarity Rank: 640
    CORNING
    Similarity Rank: 1071

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 957 $196,575,000 $205,408 $3,967 2.84%
    FHA 216 $40,140,000 $185,833 $7,165 3.10%
    VA 68 $18,170,000 $267,206 $6,592 2.95%
    USDA 62 $9,600,000 $154,839 $5,557 3.06%

    For 2020, Homesale Mortgage's most frequently originated type of loan was Conventional, with 957 originations. Their 2nd most popular type was FHA, with 216 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,055 $207,175,000 $196,374 $4,887 2.88%
    Refi 200 $45,680,000 $228,400 $3,673 2.94%
    Cash Out Refi 48 $11,630,000 $242,292 $3,986 3.11%

    For 2020, Homesale Mortgage's most frequently cited loan purpose was Home Purchase, with 1,055 originations. The 2nd most popular reason was Refi, with 200 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,141 $244,515,000 $214,299 $4,727 3.08%
    15 Year 64 $12,920,000 $201,875 $3,557 2.66%
    10 Year 63 $545,000 $8,651 $3,591 0.09%
    20 Year 20 $4,530,000 $226,500 $3,675 2.98%
    Other 9 $1,945,000 $216,111 $3,986 3.03%
    5 Year 6 $30,000 $5,000 $0 0.00%

    For 2020, Homesale Mortgage's most frequently cited loan duration was 30 Year, with 1,141 originations. The 2nd most popular length was 15 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,095 $235,495,000 $215,064
    $<1k 142 $14,290,000 $100,634
    $2k-3k 23 $5,845,000 $254,130
    $3k-4k 12 $3,360,000 $280,000
    $4k-5k 4 $1,440,000 $360,000
    $5k+ 4 $1,380,000 $345,000

    Homesale Mortgage's average total fees were $4,727, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,095 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 613 $131,285,000 $214,168
    3-4% 459 $92,455,000 $201,427
    <2.5% 202 $36,510,000 $180,743
    4-5% 24 $3,750,000 $156,250
    5-6% 4 $480,000 $120,000

    During 2020, Homesale Mortgage's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 613 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 593 $91,245,000 $153,870 $4,217 3.12%
    $200k-400k 497 $133,365,000 $268,340 $5,073 2.98%
    $100,000 or less 141 $6,255,000 $44,362 $3,345 1.73%
    $400k-600k 71 $32,985,000 $464,577 $5,602 2.79%
    $600k-1MM 1 $635,000 $635,000 $5,034 3.13%

    2020 saw Homesale Mortgage place emphasis on $100k-200k loans with 593 originations, totaling $91,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 385 $65,145,000 $169,208 $4,676 2.87%
    $50k or less 286 $34,170,000 $119,476 $4,210 2.70%
    $75k-100k 234 $52,240,000 $223,248 $4,826 3.07%
    $100k-150k 217 $56,135,000 $258,687 $4,737 2.99%
    $150k-250k 136 $42,280,000 $310,882 $4,765 2.94%
    $250k+ 37 $12,055,000 $325,811 $4,163 2.96%

    Homesale Mortgage lent most frequently to those with incomes in the $50k-75k range, with 385 originations. The second most popular income band? $50k or less, with 286 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 295 $63,515,000 $215,305 $4,244 2.96%
    30-36% 276 $53,330,000 $193,225 $4,335 2.85%
    <20% 92 $21,280,000 $231,304 $3,983 2.92%
    42% 66 $12,380,000 $187,576 $4,884 2.80%
    40% 63 $12,245,000 $194,365 $4,859 2.95%
    44% 58 $10,790,000 $186,034 $4,993 2.90%
    39% 58 $11,740,000 $202,414 $4,563 2.98%
    41% 56 $10,190,000 $181,964 $4,680 2.73%
    36% 53 $8,955,000 $168,962 $4,748 2.69%
    37% 45 $8,505,000 $189,000 $4,940 2.90%
    43% 44 $7,700,000 $175,000 $5,085 2.82%
    38% 41 $7,555,000 $184,268 $4,760 3.04%
    45% 34 $7,850,000 $230,882 $4,903 3.01%
    49% 30 $5,950,000 $198,333 $5,140 2.98%
    48% 26 $5,890,000 $226,538 $6,551 2.95%
    46% 25 $6,545,000 $261,800 $5,546 3.07%
    47% 23 $5,185,000 $225,435 $5,652 2.99%
    50-60% 10 $2,380,000 $238,000 $8,819 2.80%
    >60% 1 $265,000 $265,000 $10,386 2.75%

    Homesale Mortgage lent most frequently to those with DTI ratios of 20-30%, with 295 originations. The next most common DTI ratio? 30-36%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,071 $211,405,000 $197,390 $4,609 2.89%
    Not provided 134 $29,070,000 $216,940 $4,530 2.93%
    Black 69 $14,605,000 $211,667 $5,384 3.04%
    Asian 27 $8,735,000 $323,519 $4,739 2.83%
    Other Asian 1 $445,000 $445,000 $3,785 2.50%
    American Indian 1 $225,000 $225,000 $3,824 3.75%

    Approval Rates

    Total approvals of all applications
    97.96%

    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
    86.34%

    Homesale Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,303 $264,485,000 $202,982

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,303 $264,485,000 $202,982

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,645,000 $158,478 $3,295 2.94%
    40-60% 54 $11,470,000 $212,407 $3,561 2.91%
    60-80% 269 $61,525,000 $228,717 $3,779 2.97%
    80-100% 857 $179,025,000 $208,897 $4,901 3.10%
    Over 100% 25 $6,245,000 $249,800 $9,489 3.02%
    Under 20% 69 $475,000 $6,884 $3,472 0.08%