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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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: Baltimore, Lancaster, York, Harrisburg, and Reading 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% 11/17/24
    30 Year Conventional Refi 6.92% 11/17/24
    30 Year Cash-out Refi 6.76% 11/17/24
    30 Year FHA Purchase 7.67% 11/17/24
    30 Year VA Purchase 6.53% 11/17/24
    30 Year USDA Purchase 7.39% 11/17/24
    15 Year Conventional Purchase 6.56% 11/17/24
    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

    1,358

    Origination Dollar Volume (All Markets)

    $292,350,000
    Show all (13) 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
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 224 $68,560,000 $306,071 $4,726 2.95%
    LANCASTER, PA (FHA|USDA|VA) 308 $68,180,000 $221,364 $4,705 2.84%
    YORK-HANOVER, PA (FHA|USDA|VA) 276 $50,910,000 $184,457 $4,832 2.77%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 181 $34,935,000 $193,011 $4,627 2.74%
    READING, PA (FHA|USDA|VA) 83 $16,555,000 $199,458 $4,591 2.86%
    LEBANON, PA (FHA|USDA|VA) 72 $13,950,000 $193,750 $4,759 2.78%
    Pottsville, PA (FHA|USDA|VA) 76 $10,360,000 $136,316 $4,575 2.59%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 49 $7,595,000 $155,000 $5,245 2.36%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 15 $5,215,000 $347,667 $4,040 3.10%
    GETTYSBURG, PA (FHA|USDA|VA) 26 $5,210,000 $200,385 $5,553 2.82%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 16 $4,120,000 $257,500 $5,032 2.74%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $2,190,000 $365,000 $4,530 2.65%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $795,000 $265,000 $3,698 2.96%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $540,000 $270,000 $7,803 2.81%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $435,000 $435,000 $6,276 3.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $430,000 $215,000 $2,930 3.94%
    Sunbury, PA (FHA|USDA|VA) 5 $415,000 $83,000 $4,943 2.35%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $370,000 $92,500 $2,964 2.19%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $365,000 $365,000 $9,980 2.75%
    Huntingdon, PA (FHA|USDA|VA) 2 $360,000 $180,000 $5,773 3.19%
    Outside of Metro Areas 2 $310,000 $155,000 $5,800 2.81%
    DuBois, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,994 2.50%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $155,000 $155,000 $4,284 3.63%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.75%
    Indiana, PA (FHA|USDA|VA) 1 $55,000 $55,000 $3,132 3.13%
    Homesale Mortgage's top markets include Baltimore, Lancaster, York, Harrisburg, and Reading among others.

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

    BELLCO
    Similarity Rank: 176
    First Citizens Community Bank
    Similarity Rank: 270
    PATRIOT
    Similarity Rank: 312
    Sail Mortgage Corp.
    Similarity Rank: 360
    Riverview Bank
    Similarity Rank: 420
    VISIONS
    Similarity Rank: 468
    POINT BREEZE
    Similarity Rank: 540
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    Discovery Federal Credit Union
    Similarity Rank: 616
    LEBANON
    Similarity Rank: 720

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,102 $235,420,000 $213,630 $4,109 2.78%
    FHA 156 $30,580,000 $196,026 $7,564 2.90%
    VA 71 $21,815,000 $307,254 $8,058 2.72%
    USDA 29 $4,535,000 $156,379 $5,432 2.98%

    For 2021, Homesale Mortgage's most frequently originated type of loan was Conventional, with 1,102 originations. Their 2nd most popular type was FHA, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,069 $228,075,000 $213,354 $5,030 2.78%
    Cash Out Refi 189 $40,095,000 $212,143 $3,749 2.90%
    Refi 96 $23,520,000 $245,000 $4,067 2.75%
    Home Improvement 3 $545,000 $181,667 $3,191 3.38%
    NA 1 $115,000 $115,000 $0 4.88%

    For 2021, Homesale Mortgage's most frequently cited loan purpose was Home Purchase, with 1,069 originations. The 2nd most popular reason was Cash Out Refi, with 189 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,146 $266,380,000 $232,443 $4,874 3.03%
    10 Year 92 $1,800,000 $19,565 $3,722 0.17%
    15 Year 72 $15,650,000 $217,361 $3,610 2.57%
    20 Year 32 $6,270,000 $195,938 $3,663 2.88%
    Other 12 $2,220,000 $185,000 $3,575 2.88%
    5 Year 4 $30,000 $7,500 $0 0.00%

    For 2021, Homesale Mortgage's most frequently cited loan duration was 30 Year, with 1,146 originations. The 2nd most popular length was 10 Year, with 92 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,143 $262,215,000 $229,409
    $<1k 52 $7,960,000 $153,077
    $2k-3k 43 $11,275,000 $262,209
    $3k-4k 9 $2,455,000 $272,778
    $5k+ 6 $2,360,000 $393,333
    $4k-5k 5 $1,285,000 $257,000

    Homesale Mortgage's average total fees were $4,874, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 581 $140,095,000 $241,127
    3-4% 525 $115,725,000 $220,429
    <2.5% 237 $34,585,000 $145,928
    4-5% 15 $1,945,000 $129,667

    During 2021, Homesale Mortgage's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 581 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 548 $85,710,000 $156,405 $4,112 3.02%
    $200k-400k 538 $145,100,000 $269,703 $5,042 2.98%
    $100,000 or less 160 $6,300,000 $39,375 $3,503 1.38%
    $400k-600k 102 $47,790,000 $468,529 $6,211 2.87%
    $600k-1MM 10 $7,450,000 $745,000 $8,521 3.08%

    2021 saw Homesale Mortgage place emphasis on $100k-200k loans with 548 originations, totaling $85,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 391 $67,765,000 $173,312 $4,571 2.74%
    $50k or less 277 $33,085,000 $119,440 $4,377 2.46%
    $100k-150k 254 $68,960,000 $271,496 $4,928 2.97%
    $75k-100k 242 $53,610,000 $221,529 $4,663 2.96%
    $150k-250k 130 $44,310,000 $340,846 $5,370 2.97%
    $250k+ 47 $20,255,000 $430,957 $5,108 3.06%

    Homesale Mortgage lent most frequently to those with incomes in the $50k-75k range, with 391 originations. The second most popular income band? $50k or less, with 277 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 318 $67,020,000 $210,755 $4,330 2.82%
    30-36% 253 $55,165,000 $218,043 $4,708 2.85%
    <20% 107 $27,415,000 $256,215 $4,218 2.89%
    39% 73 $14,265,000 $195,411 $5,127 2.49%
    37% 62 $12,490,000 $201,452 $5,486 2.86%
    41% 61 $13,235,000 $216,967 $4,649 2.73%
    36% 59 $13,045,000 $221,102 $4,685 2.77%
    44% 58 $9,130,000 $157,414 $4,674 2.51%
    38% 56 $11,520,000 $205,714 $4,140 2.61%
    40% 54 $11,760,000 $217,778 $4,332 2.85%
    43% 48 $10,760,000 $224,167 $5,124 3.00%
    42% 37 $7,925,000 $214,189 $5,395 2.75%
    49% 32 $7,750,000 $242,188 $6,433 2.87%
    47% 31 $7,445,000 $240,161 $6,219 3.01%
    45% 29 $5,665,000 $195,345 $4,290 2.91%
    48% 28 $6,120,000 $218,571 $5,723 2.79%
    50-60% 19 $4,095,000 $215,526 $6,608 2.89%
    46% 17 $3,375,000 $198,529 $5,143 2.80%

    Homesale Mortgage lent most frequently to those with DTI ratios of 20-30%, with 318 originations. The next most common DTI ratio? 30-36%, with 253 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,041 $218,525,000 $209,918 $4,603 2.79%
    Not provided 216 $48,120,000 $222,778 $5,296 2.81%
    Black 73 $17,385,000 $238,151 $5,132 2.81%
    Asian 24 $7,060,000 $294,167 $5,142 2.97%
    Filipino 1 $575,000 $575,000 $4,854 2.75%
    Native Hawaiian or Islander 2 $540,000 $270,000 $4,093 2.81%
    Chinese 1 $145,000 $145,000 $3,781 3.25%

    Approval Rates

    Total approvals of all applications
    94.99%

    Homesale Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.84%

    Homesale Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,358 $292,350,000 $215,280

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,358 $292,350,000 $215,280

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,125,000 $141,667 $3,030 2.75%
    40-60% 73 $12,895,000 $176,644 $3,466 2.80%
    60-80% 314 $76,510,000 $243,662 $4,082 3.01%
    80-100% 832 $190,550,000 $229,026 $4,972 3.03%
    Over 100% 24 $7,330,000 $305,417 $10,853 2.67%
    Under 20% 91 $765,000 $8,407 $2,781 0.03%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    HomeKey Lending, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%