Milestone Home Lending Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300QSOO0QJ7R1VQ66

Tax ID: 82-1580200

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    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 by origination volume include: Indianapolis, Bloomington, Chicago, New Castle, and Terre Haute among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Milestone Home Lending has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Milestone Home Lending 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 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.

    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 6.98% 12/2/24
    30 Year Conventional Refi 6.86% 12/2/24
    30 Year Cash-out Refi 7.16% 12/2/24
    30 Year FHA Purchase 7.89% 12/2/24
    30 Year VA Purchase 6.92% 12/2/24
    15 Year Conventional Purchase 6.19% 12/2/24
    15 Year Conventional Refi 6.61% 12/2/24
    15 Year Cash-out Refi 6.61% 12/2/24
    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.

    Milestone Home Lending Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Milestone Home Lending. 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

    463

    Origination Dollar Volume (All Markets)

    $97,375,000

    Awards

    MILESTONE HOME LENDING VA Loans gold
    Show all (1) awards

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 436 $92,410,000 $211,950 $3,871 4.54%
    BLOOMINGTON, IN (FHA|USDA|VA) 5 $1,445,000 $289,000 $4,209 4.88%
    Outside of Metro Areas 4 $790,000 $197,500 $3,405 4.24%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $450,000 $225,000 $3,357 4.00%
    New Castle, IN (FHA|USDA|VA) 3 $425,000 $141,667 $5,100 5.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $270,000 $135,000 $3,238 5.35%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $245,000 $245,000 $6,259 4.25%
    MUNCIE, IN (FHA|USDA|VA) 2 $240,000 $120,000 $2,675 4.63%
    Auburn, IN (FHA|USDA|VA) 1 $225,000 $225,000 $2,094 3.75%
    COLUMBUS, IN (FHA|USDA|VA) 1 $165,000 $165,000 $5,122 5.13%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,700 3.88%
    Jasper, IN (FHA|USDA|VA) 1 $125,000 $125,000 $4,266 5.75%
    Warsaw, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,355 5.88%
    Marion, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,370 4.38%
    Frankfort, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,326 4.45%
    KOKOMO, IN (FHA|USDA|VA) 1 $85,000 $85,000 $4,037 3.50%
    Milestone Home Lending's top markets include Indianapolis, Bloomington, Chicago, New Castle, and Terre Haute among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

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

    Hendricks County Bank and Trust Company
    Similarity Rank: 456
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 476
    Victory Community Bank
    Similarity Rank: 480
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 1118
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1794
    Citizens State Bank of New Castle
    Similarity Rank: 1898
    FORUM Credit Union
    Similarity Rank: 1920
    TUCKER MORTGAGE, LLC
    Similarity Rank: 1962
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2436
    Stock Yards Bank & Trust Company
    Similarity Rank: 2451

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 297 $66,955,000 $225,438 $2,826 4.53%
    FHA 125 $22,935,000 $183,480 $6,205 4.56%
    VA 27 $5,565,000 $206,111 $4,241 4.61%
    USDA 14 $1,920,000 $137,143 $4,172 4.51%

    For 2019, Milestone Home Lending's most frequently originated type of loan was Conventional, with 297 originations. Their 2nd most popular type was FHA, with 125 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 401 $82,205,000 $205,000 $3,953 4.59%
    Refi 41 $10,115,000 $246,707 $3,488 4.07%
    Cash Out Refi 18 $5,040,000 $280,000 $3,320 4.36%
    Other 3 $15,000 $5,000 $0 5.75%

    For 2019, Milestone Home Lending's most frequently cited loan purpose was Home Purchase, with 401 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 431 $90,085,000 $209,014 $3,945 4.59%
    15 Year 17 $4,405,000 $259,118 $2,674 3.79%
    20 Year 9 $1,915,000 $212,778 $2,856 4.07%
    10 Year 4 $590,000 $147,500 $2,994 3.75%
    Other 2 $380,000 $190,000 $2,306 4.19%

    For 2019, Milestone Home Lending's most frequently cited loan duration was 30 Year, with 431 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 392 $83,510,000 $213,036
    $2k-3k 35 $6,965,000 $199,000
    $<1k 25 $3,995,000 $159,800
    $3k-4k 8 $1,720,000 $215,000
    $5k+ 2 $960,000 $480,000
    $4k-5k 1 $225,000 $225,000

    Milestone Home Lending's average total fees were $3,945, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 392 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 247 $51,185,000 $207,227
    3-4% 127 $30,505,000 $240,197
    5-6% 83 $14,225,000 $171,386
    6-7% 4 $1,260,000 $315,000
    7-8% 2 $200,000 $100,000

    During 2019, Milestone Home Lending's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 222 $33,630,000 $151,486 $3,808 4.60%
    $200k-400k 173 $45,915,000 $265,405 $4,226 4.35%
    $100,000 or less 43 $3,155,000 $73,372 $2,898 5.01%
    $400k-600k 19 $8,915,000 $469,211 $3,062 4.39%
    $600k-1MM 5 $3,865,000 $773,000 $4,688 4.98%
    $1MM+ 1 $1,895,000 $1,895,000 $5,328 4.88%

    2019 saw Milestone Home Lending place emphasis on $100k-200k loans with 222 originations, totaling $33,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 133 $23,295,000 $175,150 $4,313 4.57%
    $50k or less 113 $14,715,000 $130,221 $3,472 4.55%
    $100k-150k 81 $20,975,000 $258,951 $4,059 4.53%
    $75k-100k 78 $17,030,000 $218,333 $3,724 4.46%
    $150k-250k 34 $10,640,000 $312,941 $3,622 4.49%
    $250k+ 19 $9,685,000 $509,737 $3,133 4.65%

    Milestone Home Lending lent most frequently to those with incomes in the $50k-75k range, with 133 originations. The second most popular income band? $50k or less, with 113 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 106 $22,220,000 $209,623 $3,415 4.47%
    30-36% 92 $19,150,000 $208,152 $3,591 4.51%
    <20% 30 $6,390,000 $213,000 $2,771 4.51%
    44% 28 $5,770,000 $206,071 $4,199 4.57%
    50-60% 27 $6,135,000 $227,222 $6,397 4.54%
    42% 20 $5,270,000 $263,500 $4,022 4.40%
    43% 18 $3,320,000 $184,444 $4,286 4.60%
    38% 17 $3,585,000 $210,882 $3,800 4.60%
    47% 16 $3,050,000 $190,625 $2,992 4.47%
    37% 15 $3,205,000 $213,667 $3,334 4.87%
    40% 15 $2,395,000 $159,667 $3,281 4.32%
    48% 15 $3,755,000 $250,333 $5,686 4.73%
    45% 13 $2,815,000 $216,538 $4,839 4.74%
    41% 13 $3,415,000 $262,692 $3,909 4.68%
    39% 12 $2,310,000 $192,500 $2,826 4.82%
    49% 10 $1,910,000 $191,000 $5,045 4.63%
    36% 9 $1,185,000 $131,667 $3,268 4.69%
    46% 7 $1,495,000 $213,571 $5,716 4.38%

    Milestone Home Lending lent most frequently to those with DTI ratios of 20-30%, with 106 originations. The next most common DTI ratio? 30-36%, with 92 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 406 $84,940,000 $209,212 $3,801 4.55%
    Black 22 $5,380,000 $244,545 $5,184 4.66%
    Asian 16 $3,420,000 $213,750 $3,078 4.51%
    Not provided 16 $3,100,000 $193,750 $4,469 4.34%
    American Indian 2 $330,000 $165,000 $3,456 4.25%
    Native Hawaiian or Islander 1 $205,000 $205,000 $2,993 4.63%

    Approval Rates

    Total approvals of all applications
    95.13%

    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
    69.76%

    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 463 $97,375,000 $210,313

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $115,000 $115,000
    Single Family (1-4 Units):Site-Built 462 $97,260,000 $210,519

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $585,000 $117,000 $2,543 4.52%
    40-60% 12 $2,040,000 $170,000 $2,775 4.24%
    60-80% 85 $21,555,000 $253,588 $2,905 4.62%
    80-100% 337 $68,915,000 $204,496 $4,107 4.52%
    Over 100% 4 $1,020,000 $255,000 $9,546 4.88%
    Under 20% 4 $90,000 $22,500 $156 6.21%