Champions Mortgage Rates, Fees & Info

St Petersburg, FL

LEI: 549300R1405JUM8QXD66

Tax ID: 37-1752168

4.3 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Champions Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Champions Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Dallas, Tampa, Palm Bay, Nashville, and Miami among others. Champions Mortgage has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Champions Mortgage is typically an average fee lendor.


Originations

441

Origination Dollar Volume (All Markets)

$144,905,000

Awards

CHAMPIONS MORTGAGE  30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Champions Mortgage 's average 30 year fixed rate mortgage of loans were 3.01%.

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

This yields a difference of -0.14%.

Relative Fees

Champions Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,857.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 150 $50,850,000 $339,000 $5,989 2.95%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 63 $17,535,000 $278,333 $5,941 3.02%
Outside of Metro Areas 38 $16,640,000 $437,895 $5,373 3.06%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 47 $13,275,000 $282,447 $5,003 2.79%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 25 $10,275,000 $411,000 $5,800 2.95%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 22 $7,500,000 $340,909 $5,857 2.90%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $2,210,000 $552,500 $9,487 2.97%
JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,970,000 $328,333 $4,547 2.60%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $1,830,000 $305,000 $6,610 3.39%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 7 $1,495,000 $213,571 $6,245 3.18%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,325,000 $441,667 $6,618 2.67%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $1,095,000 $1,095,000 $21,105 3.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $1,000,000 $500,000 $4,291 3.12%
WACO, TX (FHA|USDA|VA) 2 $950,000 $475,000 $7,185 3.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $865,000 $288,333 $5,277 2.92%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $840,000 $210,000 $5,017 2.97%
PANAMA CITY, FL (FHA|USDA|VA) 2 $820,000 $410,000 $7,261 3.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $820,000 $410,000 $3,906 2.50%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $805,000 $268,333 $5,434 3.17%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $730,000 $365,000 $3,094 2.25%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $715,000 $238,333 $6,143 2.96%
Durango, CO (FHA|USDA|VA) 2 $710,000 $355,000 $4,180 3.18%
OCALA, FL (FHA|USDA|VA) 4 $690,000 $172,500 $5,738 3.06%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $600,000 $300,000 $8,464 4.81%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $530,000 $265,000 $3,851 2.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $530,000 $265,000 $4,498 3.43%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $525,000 $175,000 $4,562 2.96%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $520,000 $260,000 $3,822 2.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $500,000 $250,000 $4,799 3.12%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $6,185 2.38%
SAVANNAH, GA (FHA|USDA|VA) 2 $500,000 $250,000 $3,969 2.81%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $6,549 2.81%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $470,000 $235,000 $3,988 2.56%
FORT COLLINS, CO (FHA|USDA|VA) 1 $445,000 $445,000 $10,982 2.88%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $395,000 $395,000 $6,497 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,591 2.50%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $385,000 $385,000 $4,059 3.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $370,000 $185,000 $6,195 3.50%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $350,000 $175,000 $5,098 2.81%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $335,000 $335,000 $3,018 2.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $275,000 $275,000 $2,302 3.13%
TYLER, TX (FHA|USDA|VA) 1 $255,000 $255,000 $7,675 2.88%
EL PASO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $6,311 3.00%
PUEBLO, CO (FHA|USDA|VA) 1 $245,000 $245,000 $9,489 3.38%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $245,000 $245,000 $5,230 2.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $1,411 2.75%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $205,000 $205,000 $3,952 4.50%
SPARTANBURG, SC (FHA|USDA|VA) 1 $175,000 $175,000 $3,504 2.99%
LUBBOCK, TX (FHA|USDA|VA) 1 $145,000 $145,000 $2,952 3.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $105,000 $105,000 $4,491 2.88%

Champions Mortgage 's top markets include Dallas, Tampa, Palm Bay, Nashville, and Miami among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 380 $127,030,000 $334,289 $5,577 3.00%
VA 33 $11,215,000 $339,848 $5,290 2.51%
FHA 27 $6,415,000 $237,593 $8,612 3.01%
USDA 1 $245,000 $245,000 $7,177 3.25%

For the 2021 period, Champions Mortgage 's most frequently originated loan type of loans were Conventional, with 380 originations. Their 2nd most popular type is VA, with 33 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 251 $87,895,000 $350,179 $6,351 3.03%
Refi 113 $35,005,000 $309,779 $4,542 2.75%
Cash Out Refi 77 $22,005,000 $285,779 $5,546 3.05%

For the 2021, Champions Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 251 originations. The 2nd most popular reason of loans were Refi, with 113 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 398 $133,760,000 $336,080 $5,857 3.01%
15 Year 33 $9,185,000 $278,333 $4,754 2.42%
20 Year 10 $1,960,000 $196,000 $4,698 2.87%

For the 2021, Champions Mortgage 's most frequently cited loan length of loans were 30 Year, with 398 originations. The 2nd most popular length of loans were 15 Year, with 33 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 276 $89,720,000 $325,072
$2k-3k 59 $18,935,000 $320,932
$<1k 51 $14,415,000 $282,647
$3k-4k 30 $9,170,000 $305,667
$5k+ 25 $12,665,000 $506,600

$5,857 of loans were Champions Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 276 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 235 $78,975,000 $336,064
3-4% 133 $43,545,000 $327,406
<2.5% 64 $19,540,000 $305,313
4-5% 7 $2,165,000 $309,286
5-6% 1 $395,000 $395,000
6-7% 1 $285,000 $285,000

During 2021, Champions Mortgage 's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 235 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 233 $68,365,000 $293,412 $5,594 2.94%
$400k-600k 102 $49,510,000 $485,392 $6,115 2.92%
$100k-200k 82 $13,370,000 $163,049 $4,886 2.98%
$600k-1MM 11 $8,315,000 $755,909 $9,967 3.26%
$100,000 or less 9 $775,000 $86,111 $3,523 3.28%
$1MM+ 4 $4,570,000 $1,142,500 $16,192 3.16%

2021 saw Champions Mortgage place emphasis on $200k-400k loans with 233 originations, totaling $68,365,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 96 $33,460,000 $348,542 $6,062 2.97%
$150k-250k 93 $38,125,000 $409,946 $6,062 2.96%
$50k-75k 86 $20,000,000 $232,558 $5,224 2.94%
$75k-100k 78 $23,240,000 $297,949 $5,437 2.97%
$50k or less 47 $11,255,000 $239,468 $4,684 2.85%
$250k+ 39 $18,305,000 $469,359 $7,147 3.09%

Champions Mortgage lent most frequently to those with incomes in the $100k-150k range, with 96 originations. The second most popular income band? $150k-250k, with 93 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 95 $31,755,000 $334,263 $5,744 2.94%
30-36% 68 $23,110,000 $339,853 $5,580 3.05%
<20% 43 $13,945,000 $324,302 $5,878 3.01%
43% 24 $8,150,000 $339,583 $5,435 2.92%
40% 21 $5,735,000 $273,095 $5,298 2.95%
36% 20 $7,260,000 $363,000 $5,855 3.01%
39% 17 $5,655,000 $332,647 $5,789 3.01%
42% 15 $4,875,000 $325,000 $6,130 3.00%
37% 15 $4,675,000 $311,667 $5,517 2.96%
41% 15 $4,845,000 $323,000 $5,962 3.04%
48% 15 $5,185,000 $345,667 $6,345 2.80%
50-60% 15 $4,365,000 $291,000 $8,093 2.70%
49% 13 $4,355,000 $335,000 $6,522 2.87%
44% 11 $3,595,000 $326,818 $5,849 3.42%
45% 11 $4,055,000 $368,636 $5,670 2.96%
38% 11 $3,285,000 $298,636 $5,111 3.07%
47% 10 $3,150,000 $315,000 $5,368 2.95%
46% 6 $1,400,000 $233,333 $5,136 3.04%
>60% 1 $565,000 $565,000 $6,528 2.75%

Champions Mortgage lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 68 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 371 $121,915,000 $328,612 $5,762 2.97%
Not provided 51 $17,965,000 $352,255 $5,435 2.91%
Black 10 $2,660,000 $266,000 $7,014 3.05%
Asian 7 $1,805,000 $257,857 $5,455 2.82%
American Indian 2 $560,000 $280,000 $5,634 2.87%

Approval Rates

Total approvals of all applications
95.77%

Champions Mortgage 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
90.72%

Champions Mortgage has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 441 $144,905,000 $328,583

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
441 $144,905,000 $328,583

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 14 $3,060,000 $218,571 $3,939 2.56%
40-60% 51 $14,125,000 $276,961 $5,193 2.79%
60-80% 180 $61,250,000 $340,278 $5,567 3.02%
80-100% 193 $65,845,000 $341,166 $6,173 2.98%
Over 100% 2 $570,000 $285,000 $10,586 3.25%
Under 20% 1 $55,000 $55,000 $368 4.00%