Milestone Home Lending Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300QSOO0QJ7R1VQ66

Tax ID: 82-1580200

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Mortgage Data

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. Their top markets by origination volume include: Indianapolis, Bloomington, Chicago, Columbus, and Traverse City among others. We have data for 17 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 an average 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 6.98% 12/7/24
30 Year Conventional Refi 6.86% 12/7/24
30 Year Cash-out Refi 7.16% 12/7/24
30 Year FHA Purchase 7.89% 12/7/24
30 Year VA Purchase 6.92% 12/7/24
15 Year Conventional Purchase 6.19% 12/7/24
15 Year Conventional Refi 6.61% 12/7/24
15 Year Cash-out Refi 6.61% 12/7/24
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

208

Origination Dollar Volume (All Markets)

$55,720,000

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) 155 $42,145,000 $271,903 $4,919 5.16%
BLOOMINGTON, IN (FHA|USDA|VA) 28 $7,990,000 $285,357 $5,640 4.86%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $1,060,000 $265,000 $3,422 4.81%
COLUMBUS, IN (FHA|USDA|VA) 3 $745,000 $248,333 $4,184 5.96%
Outside of Metro Areas 3 $575,000 $191,667 $3,324 4.96%
Traverse City, MI (FHA|USDA|VA) 1 $495,000 $495,000 $4,074 5.99%
Frankfort, IN (FHA|USDA|VA) 1 $435,000 $435,000 $2,770 4.99%
Bedford, IN (FHA|USDA|VA) 2 $380,000 $190,000 $7,009 4.00%
LOUISVILLE, KY (FHA|USDA|VA) 2 $330,000 $165,000 $3,326 5.62%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $305,000 $305,000 $2,357 6.99%
New Castle, IN (FHA|USDA|VA) 1 $275,000 $275,000 $2,548 4.63%
FORT WAYNE, IN (FHA|USDA|VA) 1 $225,000 $225,000 $4,816 3.88%
Marion, IN (FHA|USDA|VA) 2 $220,000 $110,000 $3,605 4.19%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $165,000 $165,000 $3,298 4.88%
JACKSON, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,160 3.99%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $135,000 $135,000 $6,184 7.25%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $105,000 $105,000 $5,197 6.63%
Milestone Home Lending's top markets include Indianapolis, Bloomington, Chicago, Columbus, and Traverse City among others.

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

    Mutual Savings Bank
    Similarity Rank: 268
    Independent Federal Credit Union
    Similarity Rank: 318
    Greenfield Banking Company
    Similarity Rank: 476
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 580
    Home Bank SB
    Similarity Rank: 700
    CIBM Bank
    Similarity Rank: 768
    CRANE
    Similarity Rank: 1003
    The Peoples State Bank
    Similarity Rank: 1408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $45,465,000 $275,545 $4,146 5.17%
    FHA 34 $7,520,000 $221,176 $7,924 4.86%
    VA 9 $2,735,000 $303,889 $7,152 5.08%

    For 2022, Milestone Home Lending's most frequently originated type of loan was Conventional, with 165 originations. Their 2nd most popular type was FHA, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 197 $53,105,000 $269,569 $4,882 5.16%
    Refi 6 $1,460,000 $243,333 $3,422 4.08%
    Cash Out Refi 5 $1,155,000 $231,000 $7,115 4.55%

    For 2022, Milestone Home Lending's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 193 $51,455,000 $266,606 $4,940 5.17%
    20 Year 8 $2,570,000 $321,250 $4,073 4.58%
    15 Year 6 $1,580,000 $263,333 $4,639 4.29%
    10 Year 1 $115,000 $115,000 $4,024 4.00%

    For 2022, Milestone Home Lending's most frequently cited loan duration was 30 Year, with 193 originations. The 2nd most popular length was 20 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 89 $21,425,000 $240,730
    $2k-3k 50 $11,700,000 $234,000
    $3k-4k 34 $10,130,000 $297,941
    $5k+ 21 $8,135,000 $387,381
    $4k-5k 12 $3,860,000 $321,667
    $<1k 2 $470,000 $235,000

    Milestone Home Lending's average total fees were $4,940, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 89 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 68 $17,720,000 $260,588
    5-6% 59 $17,955,000 $304,322
    3-4% 39 $9,635,000 $247,051
    6-7% 25 $6,455,000 $258,200
    7-8% 16 $3,850,000 $240,625
    2.5-3% 1 $105,000 $105,000

    During 2022, Milestone Home Lending's average interest rate for loans was 5.17%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 104 $29,680,000 $285,385 $4,964 5.12%
    $100k-200k 73 $11,845,000 $162,260 $4,252 5.16%
    $400k-600k 21 $9,875,000 $470,238 $6,101 5.06%
    $600k-1MM 6 $3,970,000 $661,667 $7,884 5.33%
    $100,000 or less 4 $350,000 $87,500 $3,946 4.37%

    2022 saw Milestone Home Lending place emphasis on $200k-400k loans with 104 originations, totaling $29,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 208 $55,720,000 $267,885 $4,894 5.12%

    Milestone Home Lending lent most frequently to those with incomes in the $50k or less range, with 208 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 34 $8,950,000 $263,235 $4,784 5.43%
    20-30% 34 $8,930,000 $262,647 $4,313 5.13%
    37% 15 $3,735,000 $249,000 $4,895 4.93%
    44% 14 $4,120,000 $294,286 $5,536 4.81%
    48% 13 $4,915,000 $378,077 $5,907 5.24%
    50-60% 11 $2,605,000 $236,818 $5,965 4.66%
    40% 11 $2,415,000 $219,545 $4,506 5.52%
    <20% 10 $2,700,000 $270,000 $3,953 4.39%
    39% 9 $2,395,000 $266,111 $5,045 5.24%
    42% 9 $2,275,000 $252,778 $5,256 5.26%
    46% 8 $1,810,000 $226,250 $6,215 5.09%
    36% 7 $2,395,000 $342,143 $5,227 4.86%
    43% 7 $1,825,000 $260,714 $3,834 5.02%
    45% 7 $1,995,000 $285,000 $5,760 4.64%
    41% 6 $1,160,000 $193,333 $3,822 4.90%
    47% 5 $1,045,000 $209,000 $4,719 5.50%
    38% 4 $1,470,000 $367,500 $4,218 4.97%
    49% 4 $980,000 $245,000 $4,145 6.53%

    Milestone Home Lending lent most frequently to those with DTI ratios of 30-36%, with 34 originations. The next most common DTI ratio? 20-30%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $41,085,000 $265,065 $4,892 5.12%
    Not provided 22 $6,090,000 $276,818 $4,987 5.10%
    Black 23 $4,935,000 $214,565 $4,846 5.17%
    Asian 7 $3,355,000 $479,286 $4,463 5.09%
    American Indian 1 $255,000 $255,000 $7,254 3.25%

    Approval Rates

    Total approvals of all applications
    93.33%

    Milestone Home Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.87%

    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 208 $55,720,000 $267,885

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    208 $55,720,000 $267,885

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $290,000 $145,000 $3,587 5.94%
    40-60% 10 $1,660,000 $166,000 $3,357 4.39%
    60-80% 31 $8,955,000 $288,871 $4,768 4.97%
    80-100% 164 $44,620,000 $272,073 $4,996 5.18%
    Over 100% 1 $195,000 $195,000 $9,986 4.25%