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, Orlando, Louisville, and North Port among others. We have data for 21 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% 4/21/24
    30 Year Conventional Refi 6.86% 4/21/24
    30 Year Cash-out Refi 7.16% 4/21/24
    30 Year FHA Purchase 7.89% 4/21/24
    30 Year VA Purchase 6.92% 4/21/24
    15 Year Conventional Purchase 6.19% 4/21/24
    15 Year Conventional Refi 6.61% 4/21/24
    15 Year Cash-out Refi 6.61% 4/21/24
    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

    408

    Origination Dollar Volume (All Markets)

    $101,550,000

    Awards

    MILESTONE HOME LENDING 30 Year Conventional Loans bronze
    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) 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, KY (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, and North Port among others.

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

    The Riddell National Bank
    Similarity Rank: 252
    Mutual Savings Bank
    Similarity Rank: 264
    Independent Federal Credit Union
    Similarity Rank: 560
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 675
    Madison County Federal Credit Union
    Similarity Rank: 784
    The Peoples State Bank
    Similarity Rank: 1375
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1690
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1786
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1980
    FORUM Credit Union
    Similarity Rank: 2294

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Milestone Home Lending's most frequently originated type of loan was Conventional, with 325 originations. Their 2nd most popular type was FHA, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Milestone Home Lending's most frequently cited loan purpose was Home Purchase, with 323 originations. The 2nd most popular reason was 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 2021, Milestone Home Lending's most frequently cited loan duration was 30 Year, with 344 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 349 $86,935,000 $249,097
    $2k-3k 32 $7,200,000 $225,000
    $3k-4k 13 $2,865,000 $220,385
    $5k+ 7 $2,665,000 $380,714
    $<1k 6 $1,530,000 $255,000
    $4k-5k 1 $355,000 $355,000

    Milestone Home Lending's average total fees were $3,857, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.41%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    96.83%

    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
    65.44%

    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%