Home Federal Bank Mortgage Rates, Fees & Info

Shreveport, LA

LEI: 549300K2EV48DVSYNV15

Tax ID: 72-0214680

5 stars - Updated: 11/17/24 - out of 5 stars, based on 17 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Home Federal Bank is a smaller bank specializing in Home Purchase and Refi loans. Home Federal Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Shreveport, Minden, Alexandria, New Orleans, and New York among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Home Federal Bank 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. Home Federal Bank is typically a low 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 relatively high 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 6.84% 11/17/24
    30 Year Conventional Refi 6.97% 11/17/24
    30 Year Cash-out Refi 6.77% 11/17/24
    30 Year FHA Purchase 7.48% 11/17/24
    30 Year VA Purchase 6.47% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    30 Year USDA Purchase 6.93% 11/17/24
    30 Year USDA Refi 6.69% 11/17/24
    15 Year Conventional Purchase 6.11% 11/17/24
    15 Year Conventional Refi 6.80% 11/17/24
    15 Year Cash-out Refi 6.80% 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.

    Home Federal Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Home Federal Bank. 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

    290

    Origination Dollar Volume (All Markets)

    $68,320,000
    Show all (7) awards

    Relative Rate

    Home Federal Bank's average 30 year fixed mortgage rate was 6.29%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.19%.

    Relative Fees (Closing Costs)

    Home Federal Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,974.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 227 $51,875,000 $228,524 $3,289 6.71%
    Minden, LA (FHA|USDA|VA) 24 $4,620,000 $192,500 $4,052 6.50%
    Outside of Metro Areas 12 $3,510,000 $292,500 $3,880 6.54%
    ALEXANDRIA, LA (FHA|USDA|VA) 2 $1,860,000 $930,000 $1,230 8.75%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $1,080,000 $540,000 $3,275 6.70%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 6.50%
    BATON ROUGE, LA (FHA|USDA|VA) 5 $915,000 $183,000 $2,775 6.76%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $625,000 $625,000 $0 6.59%
    IOWA CITY, IA (FHA|USDA|VA) 1 $585,000 $585,000 $1,701 6.25%
    Jackson, WY-ID (FHA|USDA|VA) 1 $535,000 $535,000 $0 7.09%
    Ruston, LA (FHA|USDA|VA) 6 $450,000 $75,000 $1,962 6.58%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $305,000 $305,000 $3,765 7.88%
    Branson, MO (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.00%
    El Dorado, AR (FHA|USDA|VA) 1 $235,000 $235,000 $2,062 7.00%
    LONGVIEW, TX (FHA|USDA|VA) 3 $195,000 $65,000 $2,429 6.83%
    MONROE, LA (FHA|USDA|VA) 1 $175,000 $175,000 $0 6.75%
    Natchitoches, LA (FHA|USDA|VA) 1 $105,000 $105,000 $1,809 6.40%
    Home Federal Bank's top markets include Shreveport, Minden, Alexandria, New Orleans, and New York among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)

    • Similar Lenders

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

    PIERREMONT MORTGAGE, INC.
    Similarity Rank: 132
    DSLD MORTGAGE, LLC
    Similarity Rank: 378
    BARKSDALE
    Similarity Rank: 391
    CARTER FEDERAL CREDIT UNION
    Similarity Rank: 391
    Home Federal Bank
    Similarity Rank: 391
    ANECA Federal Credit Union
    Similarity Rank: 561
    Red River Bank
    Similarity Rank: 702
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 891
    MORTGAGE FINANCIAL SERVICES, LLC
    Similarity Rank: 1539
    FirstTrust Home Loans, Inc.
    Similarity Rank: 2184

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 268 $63,950,000 $238,619 $2,709 6.72%
    FHA 16 $2,820,000 $176,250 $7,394 6.59%
    VA 3 $1,045,000 $348,333 $13,311 6.37%
    USDA 3 $505,000 $168,333 $6,470 6.42%

    For 2023, Home Federal Bank's most frequently originated type of loan was Conventional, with 268 originations. Their 2nd most popular type was FHA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 135 $31,405,000 $232,630 $4,399 6.58%
    Refi 93 $29,085,000 $312,742 $2,927 6.63%
    Cash Out Refi 55 $6,165,000 $112,091 $1,656 7.08%
    Home Improvement 7 $1,665,000 $237,857 $2,554 7.28%

    For 2023, Home Federal Bank's most frequently cited loan purpose was Home Purchase, with 135 originations. The 2nd most popular reason was Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 141 $42,085,000 $298,475 $3,974 6.29%
    5 Year 78 $16,200,000 $207,692 $1,068 6.95%
    15 Year 27 $2,445,000 $90,556 $1,835 7.75%
    Other 15 $2,095,000 $139,667 $949 6.80%
    10 Year 15 $1,695,000 $113,000 $1,410 6.89%
    3 Year 6 $1,180,000 $196,667 $0 7.36%
    1 Year 4 $2,300,000 $575,000 $0 7.75%
    20 Year 4 $320,000 $80,000 $1,861 6.58%

    For 2023, Home Federal Bank's most frequently cited loan duration was 30 Year, with 141 originations. The 2nd most popular length was 5 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 163 $37,735,000 $231,503
    $1k-2k 11 $2,065,000 $187,727
    $2k-3k 10 $3,290,000 $329,000
    $3k-4k 7 $1,655,000 $236,429
    $4k-5k 4 $1,170,000 $292,500

    Home Federal Bank's average total fees were $3,974, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 104 $29,360,000 $282,308
    7-8% 80 $11,770,000 $147,125
    5-6% 66 $19,370,000 $293,485
    Over 8% 22 $3,510,000 $159,545
    4-5% 18 $4,310,000 $239,444

    During 2023, Home Federal Bank's average interest rate for loans was 6.29%, while their most frequently originated rate bucket for loans was 6-7%, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 98 $5,520,000 $56,327 $1,554 7.09%
    $100k-200k 87 $12,455,000 $143,161 $3,481 6.63%
    $200k-400k 60 $16,160,000 $269,333 $4,406 6.56%
    $400k-600k 22 $10,800,000 $490,909 $4,556 6.14%
    $600k-1MM 15 $11,305,000 $753,667 $5,062 6.05%
    $1MM+ 8 $12,080,000 $1,510,000 $5,044 6.65%

    2023 saw Home Federal Bank place emphasis on $100,000 or less loans with 98 originations, totaling $5,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 43 $9,115,000 $211,977 $3,276 6.41%
    $150k-250k 38 $11,020,000 $290,000 $3,351 6.43%
    $50k-75k 35 $4,115,000 $117,571 $3,207 6.72%
    $75k-100k 34 $6,100,000 $179,412 $3,984 6.73%
    $250k+ 32 $15,620,000 $488,125 $3,696 6.66%
    $50k or less 22 $1,490,000 $67,727 $2,351 6.71%

    Home Federal Bank lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $150k-250k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $6,270,000 $149,286 $2,624 6.74%
    30-36% 37 $7,295,000 $197,162 $3,476 6.50%
    <20% 16 $5,260,000 $328,750 $2,711 6.12%
    42% 15 $2,795,000 $186,333 $2,942 6.62%
    45% 9 $1,735,000 $192,778 $2,277 6.61%
    50-60% 9 $1,975,000 $219,444 $4,164 6.47%
    44% 8 $2,270,000 $283,750 $4,067 6.60%
    39% 8 $1,710,000 $213,750 $4,027 7.09%
    40% 8 $2,710,000 $338,750 $3,101 6.73%
    37% 6 $2,260,000 $376,667 $3,490 5.58%
    38% 6 $1,770,000 $295,000 $4,366 6.39%
    47% 5 $1,855,000 $371,000 $3,623 5.83%
    41% 5 $1,475,000 $295,000 $3,589 6.13%
    49% 5 $1,165,000 $233,000 $7,120 6.61%
    43% 4 $2,040,000 $510,000 $3,358 6.84%
    46% 4 $820,000 $205,000 $2,373 7.31%
    48% 4 $660,000 $165,000 $4,762 7.00%
    36% 2 $230,000 $115,000 $2,011 6.13%
    >60% 2 $1,620,000 $810,000 $3,853 5.95%

    Home Federal Bank lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 188 $43,400,000 $230,851 $3,357 6.60%
    Not applicable 76 $20,010,000 $263,289 $0 6.90%
    Not provided 11 $2,265,000 $205,909 $2,247 6.76%
    Asian 1 $1,275,000 $1,275,000 $5,688 6.25%
    Black 13 $1,265,000 $97,308 $3,495 7.11%
    Chinese 1 $105,000 $105,000 $3,274 5.90%

    Approval Rates

    Total approvals of all applications
    94.89%

    Home Federal Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.59%

    Home Federal Bank 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 290 $68,320,000 $235,586

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    290 $68,320,000 $235,586

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $2,975,000 $102,586 $1,617 6.99%
    40-60% 36 $9,510,000 $264,167 $3,262 7.03%
    60-80% 93 $23,615,000 $253,925 $2,951 6.50%
    80-100% 85 $24,265,000 $285,471 $4,689 6.40%
    Over 100% 18 $4,330,000 $240,556 $17,424 7.01%
    Under 20% 26 $3,240,000 $124,615 $1,041 7.35%