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 Refi, Cash Out Refi, and Home Purchase loans. Service One has a high proportion of conventional loans. Their top two markets are Bowling Green and Glasgow .Service One has an average approval rate when compared to the average across all lenders. They typically have about average rates.
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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
140Origination Dollar Volume (All Markets)
$14,930,000Top 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 |
|---|---|---|---|---|---|
| BOWLING GREEN, KY (FHA|USDA|VA) | 107 | $12,445,000 | $116,308 | $217 | 5.07% |
| Outside of Metro Areas | 21 | $1,785,000 | $85,000 | $190 | 4.93% |
| Glasgow, KY (FHA|USDA|VA) | 12 | $700,000 | $58,333 | $190 | 4.96% |
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 | 140 | $14,930,000 | $106,643 | $211 | 5.04% |
For 2019, Service One's most frequently originated type of loan was Conventional, with 140 originations.
Loan Reason
For 2019, Service One's most frequently cited loan purpose was Refi, with 48 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.
Loan Duration/Length
For 2019, Service One's most frequently cited loan duration was 30 Year, with 65 originations. The 2nd most popular length was 10 Year, with 20 originations.
Interest Rates
During 2019, Service One's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 41 originations.
Loan Sizing
2019 saw Service One place emphasis on $100,000 or less loans with 71 originations, totaling $3,215,000 in origination value.
Applicant Income
Service One lent most frequently to those with incomes in the $50k or less range, with 47 originations. The second most popular income band? $50k-75k, with 44 originations.
Applicant Debt to Income Ratio
Service One lent most frequently to those with DTI ratios of <20%, with 107 originations. The next most common DTI ratio? 20-30%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.50%
Service One has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 140 | $14,930,000 | $106,643 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 5 | $135,000 | $27,000 |
| Single Family (1-4 Units):Site-Built | 135 | $14,795,000 | $109,593 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Service Finance Holdings, LLC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 100.0% |