Milestone Home Lending Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300QSOO0QJ7R1VQ66

Tax ID: 82-1580200

5 stars - out of 5 stars, based on 20 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Milestone Home Lending is a smaller mortgage company specializing in Home Purchase loans. Milestone Home Lending 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 include Indianapolis, Bloomington, Orlando, Louisville/jefferson County, and North Port among others. Milestone Home Lending has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Milestone Home Lending is typically an average fee lendor.


Originations

408

Origination Dollar Volume (All Markets)

$101,550,000

Awards

MILESTONE HOME LENDING  30 Year Conventional Loans bronze
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Relative Rate

Milestone Home Lending 's average 30 year fixed rate mortgage of loans were 3.41%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.26%.

Relative Fees

Milestone Home Lending 's average total fees for a 30 year fixed rate mortgage are $3,857.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 358 $90,010,000 $251,425 $3,656 3.33%
BLOOMINGTON, IN (FHA|USDA|VA) 17 $3,935,000 $231,471 $4,213 3.54%
Outside of Metro Areas 6 $1,220,000 $203,333 $4,688 3.46%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $885,000 $885,000 $6,002 4.38%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 3 $635,000 $211,667 $4,614 3.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $545,000 $545,000 $4,753 3.38%
MUNCIE, IN (FHA|USDA|VA) 3 $455,000 $151,667 $5,616 3.88%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $405,000 $405,000 $2,843 4.13%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $395,000 $395,000 $3,221 3.38%
Bedford, IN (FHA|USDA|VA) 2 $370,000 $185,000 $5,244 3.63%
COLUMBUS, IN (FHA|USDA|VA) 1 $365,000 $365,000 $10,145 3.25%
FORT WAYNE, IN (FHA|USDA|VA) 1 $355,000 $355,000 $2,883 3.25%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $280,000 $140,000 $2,554 3.38%
KOKOMO, IN (FHA|USDA|VA) 2 $270,000 $135,000 $3,831 3.56%
Madison, IN (FHA|USDA|VA) 1 $255,000 $255,000 $2,391 3.38%
Frankfort, IN (FHA|USDA|VA) 2 $250,000 $125,000 $3,530 3.75%
New Castle, IN (FHA|USDA|VA) 2 $220,000 $110,000 $4,147 3.63%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $215,000 $215,000 $2,665 3.75%
Marion, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,206 3.38%
Crawfordsville, IN (FHA|USDA|VA) 1 $175,000 $175,000 $6,063 3.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $1,127 2.75%

Milestone Home Lending 's top markets include Indianapolis, Bloomington, Orlando, Louisville/jefferson County, and North Port among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 325 $81,765,000 $251,585 $2,876 3.31%
FHA 54 $10,950,000 $202,778 $6,563 3.55%
VA 27 $8,455,000 $313,148 $8,288 3.53%
USDA 2 $380,000 $190,000 $4,683 3.25%

For the 2021 period, Milestone Home Lending 's most frequently originated loan type of loans were Conventional, with 325 originations. Their 2nd most popular type is FHA, with 54 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 323 $81,815,000 $253,297 $3,892 3.39%
Refi 63 $13,435,000 $213,254 $3,051 3.05%
Cash Out Refi 22 $6,300,000 $286,364 $3,318 3.64%

For the 2021, Milestone Home Lending 's most frequently cited loan purpose of loans were Home Purchase, with 323 originations. The 2nd most popular reason of loans were Refi, with 63 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 344 $88,290,000 $256,657 $3,857 3.41%
15 Year 34 $7,390,000 $217,353 $2,751 2.82%
20 Year 14 $2,650,000 $189,286 $3,133 3.33%
Other 12 $2,740,000 $228,333 $4,083 3.44%
10 Year 4 $480,000 $120,000 $2,280 2.90%

For the 2021, Milestone Home Lending 's most frequently cited loan length of loans were 30 Year, with 344 originations. The 2nd most popular length of loans were 15 Year, with 34 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 349 $86,935,000 $249,097
$2k-3k 32 $7,200,000 $225,000
$3k-4k 14 $3,220,000 $230,000
$5k+ 7 $2,665,000 $380,714
$<1k 6 $1,530,000 $255,000

$3,857 of loans were Milestone Home Lending 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 349 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 273 $67,575,000 $247,527
2.5-3% 105 $27,125,000 $258,333
4-5% 25 $5,525,000 $221,000
<2.5% 4 $1,080,000 $270,000
5-6% 1 $245,000 $245,000

During 2021, Milestone Home Lending 's average interest rate of loans were 3.41%, while their most frequently originated rate bucket of loans were 3-4%, with 273 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 194 $52,780,000 $272,062 $3,988 3.33%
$100k-200k 152 $24,250,000 $159,539 $3,321 3.40%
$400k-600k 45 $21,115,000 $469,222 $4,093 3.24%
$100,000 or less 14 $1,130,000 $80,714 $3,009 3.51%
$600k-1MM 3 $2,275,000 $758,333 $5,838 3.79%

2021 saw Milestone Home Lending place emphasis on $200k-400k loans with 194 originations, totaling $52,780,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 117 $23,045,000 $196,966 $3,680 3.39%
$100k-150k 83 $22,765,000 $274,277 $3,717 3.38%
$75k-100k 75 $18,015,000 $240,200 $3,815 3.28%
$50k or less 67 $11,215,000 $167,388 $3,535 3.42%
$150k-250k 50 $18,870,000 $377,400 $3,735 3.33%
$250k+ 14 $7,260,000 $518,571 $4,721 3.20%

Milestone Home Lending lent most frequently to those with incomes in the $50k-75k range, with 117 originations. The second most popular income band? $100k-150k, with 83 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 100 $25,360,000 $253,600 $3,467 3.29%
30-36% 80 $20,950,000 $261,875 $3,763 3.39%
<20% 34 $8,090,000 $237,941 $3,102 3.20%
47% 20 $4,620,000 $231,000 $3,921 3.29%
41% 17 $4,865,000 $286,176 $3,968 3.38%
40% 16 $3,420,000 $213,750 $4,128 3.58%
43% 15 $4,085,000 $272,333 $2,914 3.31%
37% 14 $2,430,000 $173,571 $3,739 3.37%
46% 14 $2,910,000 $207,857 $3,741 3.42%
39% 14 $3,770,000 $269,286 $4,164 3.56%
50-60% 13 $3,295,000 $253,462 $6,412 3.35%
36% 13 $3,605,000 $277,308 $2,979 3.26%
48% 12 $2,800,000 $233,333 $3,031 3.30%
42% 11 $2,445,000 $222,273 $2,670 3.41%
44% 10 $2,870,000 $287,000 $5,176 3.47%
49% 9 $1,925,000 $213,889 $4,473 3.50%
45% 8 $2,180,000 $272,500 $4,962 3.61%
38% 6 $1,550,000 $258,333 $3,917 3.27%

Milestone Home Lending lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 80 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 350 $87,590,000 $250,257 $3,661 3.34%
Not provided 23 $6,005,000 $261,087 $4,413 3.43%
Black 19 $4,075,000 $214,474 $4,443 3.50%
Asian 14 $3,370,000 $240,714 $3,119 3.33%
Native Hawaiian 1 $295,000 $295,000 $8,400 4.13%
American Indian 1 $215,000 $215,000 $2,901 3.50%

Approval Rates

Total approvals of all applications
95.40%

Milestone Home Lending 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
69.29%

Milestone Home Lending has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 408 $101,550,000 $248,897

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
408 $101,550,000 $248,897

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 5 $865,000 $173,000 $2,996 2.95%
40-60% 24 $5,810,000 $242,083 $2,640 3.04%
60-80% 101 $24,775,000 $245,297 $2,988 3.35%
80-100% 265 $65,685,000 $247,868 $3,711 3.39%
Over 100% 13 $4,415,000 $339,615 $12,208 3.46%