Milestone Home Lending Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300QSOO0QJ7R1VQ66
Tax ID: 82-1580200
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Mortgage 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
408Origination Dollar Volume (All Markets)
$101,550,000Awards
MILESTONE HOME LENDING - 2021
MILESTONE HOME LENDING is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications95.40%
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 origination69.29%
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% |
