Homeland Credit Union Mortgage Rates, Fees & Info

CHILLICOTHE, OH

LEI: 549300R1M9F3KHD4D911

Tax ID: 31-0395830

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
  • Complaints
  • 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

    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 Portsmouth among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Homeland Credit Union has an average approval rate when compared to the average across all lenders. They have an 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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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

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

    This is not an official calculator from Homeland Credit Union. 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

    188

    Origination Dollar Volume (All Markets)

    $20,330,000

    Awards

    HOMELAND CREDIT UNION 30 Year Conventional Loans silver
    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
    Chillicothe, OH (FHA|USDA|VA) 125 $13,405,000 $107,240 $2,636 3.04%
    COLUMBUS, OH (FHA|USDA|VA) 22 $2,910,000 $132,273 $2,528 3.32%
    Outside of Metro Areas 28 $2,660,000 $95,000 $2,535 3.03%
    Jackson, OH (FHA|USDA|VA) 9 $935,000 $103,889 $2,741 3.21%
    Washington Court House, OH (FHA|USDA|VA) 3 $365,000 $121,667 $3,057 3.13%
    Portsmouth, OH (FHA|USDA|VA) 1 $55,000 $55,000 $2,599 2.75%
    Homeland Credit Union's top markets include Chillicothe, Columbus, Jackson, Washington Court House, and Portsmouth among others.

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

    • 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.

    HOMELAND CREDIT UNION, INC.
    Similarity Rank: 72
    LCNB National Bank
    Similarity Rank: 91
    Kingston National Bank
    Similarity Rank: 144
    THE VINTON COUNTY NATIONAL BANK
    Similarity Rank: 168
    The Merchants National Bank
    Similarity Rank: 294
    WesBanco
    Similarity Rank: 1008
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 1854
    LAKEVIEW LOAN SERVICING, LLC
    Similarity Rank: 3412
    Fifth Third Bank
    Similarity Rank: 4950
    Mortgage Research Center, LLC
    Similarity Rank: 5538

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 184 $19,720,000 $107,174 $2,614 3.08%
    VA 3 $465,000 $155,000 $2,297 3.04%
    USDA 1 $145,000 $145,000 $4,754 3.00%

    For 2021, Homeland Credit Union's most frequently originated type of loan was Conventional, with 184 originations. Their 2nd most popular type was VA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 69 $8,205,000 $118,913 $2,759 3.06%
    Refi 63 $6,785,000 $107,698 $2,666 2.67%
    Home Purchase 26 $3,140,000 $120,769 $2,924 2.99%
    Home Improvement 21 $1,255,000 $59,762 $1,637 4.45%
    Other 9 $945,000 $105,000 $2,651 3.18%

    For 2021, Homeland Credit Union's most frequently cited loan purpose was Cash Out Refi, with 69 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 57 $7,575,000 $132,895 $2,912 3.34%
    15 Year 52 $5,540,000 $106,538 $2,714 2.55%
    10 Year 49 $3,665,000 $74,796 $2,098 3.28%
    20 Year 29 $3,525,000 $121,552 $2,837 3.01%
    5 Year 1 $25,000 $25,000 $401 7.99%

    For 2021, Homeland Credit Union's most frequently cited loan duration was 30 Year, with 57 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 175 $19,515,000 $111,514
    $1k-2k 8 $570,000 $71,250

    Homeland Credit Union's average total fees were $2,912, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 175 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 62 $5,690,000 $91,774
    3-4% 60 $7,860,000 $131,000
    2.5-3% 50 $5,970,000 $119,400
    4-5% 7 $395,000 $56,429
    5-6% 6 $340,000 $56,667
    7-8% 2 $50,000 $25,000
    Over 8% 1 $25,000 $25,000

    During 2021, Homeland Credit Union's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was <2.5%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 95 $6,105,000 $64,263 $2,353 3.22%
    $100k-200k 80 $11,040,000 $138,000 $2,858 2.92%
    $200k-400k 13 $3,185,000 $245,000 $3,111 3.04%

    2021 saw Homeland Credit Union place emphasis on $100,000 or less loans with 95 originations, totaling $6,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 57 $5,685,000 $99,737 $2,647 3.08%
    $50k or less 53 $4,875,000 $91,981 $2,562 2.95%
    $100k-150k 33 $4,025,000 $121,970 $2,521 3.08%
    $75k-100k 33 $3,465,000 $105,000 $2,603 3.40%
    $150k-250k 12 $2,280,000 $190,000 $3,069 2.76%

    Homeland Credit Union lent most frequently to those with incomes in the $50k-75k range, with 57 originations. The second most popular income band? $50k or less, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 51 $5,385,000 $105,588 $2,598 2.79%
    30-36% 41 $4,535,000 $110,610 $2,803 3.19%
    <20% 18 $2,010,000 $111,667 $2,831 2.55%
    42% 9 $1,245,000 $138,333 $2,613 3.43%
    36% 9 $1,065,000 $118,333 $2,761 3.39%
    40% 9 $685,000 $76,111 $2,525 2.86%
    37% 8 $790,000 $98,750 $2,576 3.44%
    38% 7 $685,000 $97,857 $2,707 2.93%
    44% 7 $895,000 $127,857 $2,535 3.14%
    45% 4 $580,000 $145,000 $2,785 3.03%
    43% 4 $400,000 $100,000 $2,381 2.53%
    >60% 3 $445,000 $148,333 $2,478 2.71%
    39% 3 $295,000 $98,333 $2,319 4.00%
    48% 3 $255,000 $85,000 $2,233 5.25%
    50-60% 3 $315,000 $105,000 $2,044 3.54%
    41% 3 $355,000 $118,333 $2,258 4.66%
    46% 2 $180,000 $90,000 $2,689 2.94%
    49% 2 $110,000 $55,000 $2,273 2.25%
    47% 1 $55,000 $55,000 $866 4.50%

    Homeland Credit Union lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? 30-36%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 184 $19,750,000 $107,337 $2,626 3.07%
    Black 3 $375,000 $125,000 $2,083 3.63%
    Asian 1 $205,000 $205,000 $3,157 3.13%

    Approval Rates

    Total approvals of all applications
    89.33%

    Homeland Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.09%

    Homeland Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 188 $20,330,000 $108,138

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    188 $20,330,000 $108,138

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $1,895,000 $65,345 $2,477 3.09%
    40-60% 53 $5,545,000 $104,623 $2,608 2.83%
    60-80% 66 $8,770,000 $132,879 $2,863 2.97%
    80-100% 26 $3,430,000 $131,923 $2,617 3.03%
    Over 100% 1 $165,000 $165,000 $6,856 3.13%
    Under 20% 13 $525,000 $40,385 $1,435 4.70%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Home Loan Center, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 9 81.8%
    Home Loan Center, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    Home Loan Center, Inc. Other type of mortgage Closing on a mortgage 1 9.1%