Service One Mortgage Rates, Fees & Info
Bowling Green, KYLEI: 549300J2D35S72FE4K21
Tax ID: 61-6034178
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Mortgage Data
Review & Overview
Service One is a smaller mortgage company specializing in Home Purchase and Refi loans. Service One has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Glasgow, and Owensboro among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Service One has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.64% | 5/14/24 |
| 30 Year Conventional Refi | 5.32% | 5/14/24 |
| 30 Year Cash-out Refi | 5.91% | 5/14/24 |
| 15 Year Conventional Purchase | 5.26% | 5/14/24 |
| 15 Year Conventional Refi | 5.20% | 5/14/24 |
| 15 Year Cash-out Refi | 5.20% | 5/14/24 |
| 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. | ||
Service One Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
82Origination Dollar Volume (All Markets)
$5,970,000Top 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 |
|---|---|---|---|---|---|
| BOWLING GREEN, KY (FHA|USDA|VA) | 65 | $5,055,000 | $77,769 | $0 | 5.23% |
| Glasgow, KY (FHA|USDA|VA) | 9 | $595,000 | $66,111 | $0 | 5.68% |
| Outside of Metro Areas | 7 | $305,000 | $43,571 | $0 | 5.41% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against SERVICE ONE 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 | 82 | $5,970,000 | $72,805 | $0 | 5.29% |
For 2018, Service One's most frequently originated type of loan was Conventional, with 82 originations.
Loan Reason
For 2018, Service One's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
For 2018, Service One's most frequently cited loan duration was 10 Year, with 32 originations. The 2nd most popular length was 30 Year, with 25 originations.
Interest Rates
During 2018, Service One's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 5-6%, with 35 originations.
Loan Sizing
2018 saw Service One place emphasis on $100,000 or less loans with 64 originations, totaling $2,580,000 in origination value.
Applicant Income
Service One lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 23 originations.
Applicant Debt to Income Ratio
Service One lent most frequently to those with DTI ratios of <20%, with 30 originations. The next most common DTI ratio? 20-30%, with 24 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 75 | $5,175,000 | $69,000 | $0 | 5.30% |
| Black | 5 | $455,000 | $91,000 | $0 | 5.08% |
| Asian | 2 | $340,000 | $170,000 | $0 | 5.31% |
Approval Rates
Total approvals of all applications70.00%
Service One has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination97.56%
Service One has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 82 | $5,970,000 | $72,805 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 6 | $330,000 | $55,000 |
| Single Family (1-4 Units):Site-Built | 76 | $5,640,000 | $74,211 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SERVICE 1ST MORTGAGE, INC. | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |