Homeland Credit Union Mortgage Rates, Fees & Info
CHILLICOTHE, OHLEI: 549300R1M9F3KHD4D911
Tax ID: 31-0395830
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Mortgage Data
Review & Overview
Homeland Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Homeland Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Chillicothe, Columbus, Jackson, Washington Court House, and North Port among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Homeland Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Homeland Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.06% | 11/22/24 |
| 30 Year Conventional Refi | 6.92% | 11/22/24 |
| 30 Year Cash-out Refi | 6.87% | 11/22/24 |
| 30 Year USDA Purchase | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 6.21% | 11/22/24 |
| 15 Year Conventional Refi | 6.05% | 11/22/24 |
| 15 Year Cash-out Refi | 6.05% | 11/22/24 |
| 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. | ||
Homeland Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
365Origination Dollar Volume (All Markets)
$29,685,000Top 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 |
|---|---|---|---|---|---|
| Chillicothe, OH (FHA|USDA|VA) | 214 | $17,890,000 | $83,598 | $2,771 | 3.76% |
| Outside of Metro Areas | 82 | $5,570,000 | $67,927 | $2,986 | 3.86% |
| COLUMBUS, OH (FHA|USDA|VA) | 49 | $4,505,000 | $91,939 | $2,811 | 4.14% |
| Jackson, OH (FHA|USDA|VA) | 7 | $695,000 | $99,286 | $3,140 | 3.96% |
| Washington Court House, OH (FHA|USDA|VA) | 8 | $590,000 | $73,750 | $2,974 | 3.44% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,413 | 3.25% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,486 | 2.25% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,836 | 4.00% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against HOMELAND CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 362 | $29,220,000 | $80,718 | $2,781 | 3.82% |
| USDA | 2 | $300,000 | $150,000 | $4,643 | 3.50% |
| VA | 1 | $165,000 | $165,000 | $3,791 | 3.63% |
For 2020, Homeland Credit Union's most frequently originated type of loan was Conventional, with 362 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2020, Homeland Credit Union's most frequently cited loan purpose was Cash Out Refi, with 276 originations. The 2nd most popular reason was Refi, with 51 originations.
Loan Duration/Length
For 2020, Homeland Credit Union's most frequently cited loan duration was 10 Year, with 123 originations. The 2nd most popular length was 15 Year, with 94 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 129 | $17,415,000 | $135,000 |
| $1k-2k | 2 | $270,000 | $135,000 |
Homeland Credit Union's average total fees were $3,002, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 129 originations.
Interest Rates
During 2020, Homeland Credit Union's average interest rate for loans was 3.59%, while their most frequently originated rate bucket for loans was 3-4%, with 135 originations.
Loan Sizing
2020 saw Homeland Credit Union place emphasis on $100,000 or less loans with 249 originations, totaling $11,875,000 in origination value.
Applicant Income
Homeland Credit Union lent most frequently to those with incomes in the $50k-75k range, with 98 originations. The second most popular income band? $50k or less, with 81 originations.
Applicant Debt to Income Ratio
Homeland Credit Union lent most frequently to those with DTI ratios of <20%, with 80 originations. The next most common DTI ratio? 20-30%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.17%
Homeland Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.71%
Homeland Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 365 | $29,685,000 | $81,329 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 10 | $860,000 | $86,000 |
| Single Family (1-4 Units):Site-Built | 355 | $28,825,000 | $81,197 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Home Loan Center, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 75.0% |
| Home Loan Center, Inc. | Conventional home mortgage | Trouble during payment process | 1 | 12.5% |
| Home Loan Center, Inc. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 12.5% |