Hometown Equity Mortgage Rates, Fees & Info
Clayton, MOLEI: 549300RA3E0BUFO7YZ21
Tax ID: 43-1937428
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Mortgage Data
Review & Overview
Hometown Equity Mortgage is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. They have a a high proportion of FHA loans. Hometown Equity Mortgage has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Kansas City, Carbondale, Topeka, and Springfield among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Hometown Equity Mortgage 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. Hometown Equity Mortgage 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 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 | 8.28% | 12/3/24 |
| 30 Year Conventional Refi | 7.48% | 12/3/24 |
| 30 Year Cash-out Refi | 7.84% | 12/3/24 |
| 30 Year FHA Purchase | 7.72% | 12/3/24 |
| 30 Year FHA Refi | 7.10% | 12/3/24 |
| 30 Year VA Purchase | 6.40% | 12/3/24 |
| 30 Year VA Refi | 5.96% | 12/3/24 |
| 30 Year USDA Purchase | 6.81% | 12/3/24 |
| 30 Year USDA Refi | 6.27% | 12/3/24 |
| 15 Year Conventional Purchase | 6.25% | 12/3/24 |
| 15 Year Conventional Refi | 6.15% | 12/3/24 |
| 15 Year Cash-out Refi | 6.15% | 12/3/24 |
| 15 Year FHA Purchase | 7.21% | 12/3/24 |
| 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. | ||
Hometown Equity Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
81Origination Dollar Volume (All Markets)
$13,945,000Awards
Hometown Equity Mortgage - 2018
Hometown Equity Mortgage is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 59 | $10,685,000 | $181,102 | $4,770 | 4.66% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 10 | $1,480,000 | $148,000 | $4,800 | 4.35% |
| Outside of Metro Areas | 5 | $645,000 | $129,000 | $4,660 | 4.88% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,328 | 4.75% |
| TOPEKA, KS (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,173 | 4.50% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,055 | 4.69% |
| Winfield, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,299 | 4.25% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,984 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against Hometown Equity Mortgage 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
For 2018, Hometown Equity Mortgage's most frequently originated type of loan was FHA, with 34 originations. Their 2nd most popular type was Conventional, with 33 originations.
Loan Reason
For 2018, Hometown Equity Mortgage's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.
Loan Duration/Length
For 2018, Hometown Equity Mortgage's most frequently cited loan duration was 30 Year, with 69 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 41 | $6,905,000 | $168,415 |
| $1k-2k | 21 | $3,665,000 | $174,524 |
| $<1k | 18 | $3,310,000 | $183,889 |
| $3k-4k | 1 | $65,000 | $65,000 |
Hometown Equity Mortgage's average total fees were $4,836, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 41 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 48 | $8,570,000 | $178,542 |
| 5-6% | 18 | $3,040,000 | $168,889 |
| 3-4% | 15 | $2,335,000 | $155,667 |
During 2018, Hometown Equity Mortgage's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 48 originations.
Loan Sizing
2018 saw Hometown Equity Mortgage place emphasis on $100k-200k loans with 44 originations, totaling $6,740,000 in origination value.
Applicant Income
Hometown Equity Mortgage lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $50k or less, with 22 originations.
Applicant Debt to Income Ratio
Hometown Equity Mortgage lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.52%
Hometown Equity 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 origination44.44%
Hometown Equity Mortgage 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 | 81 | $13,945,000 | $172,160 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 81 | $13,945,000 | $172,160 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.4% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Closing on a mortgage | 2 | 4.9% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Struggling to pay mortgage | 4 | 9.8% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Trouble during payment process | 13 | 31.7% |
| HUNTINGTON NATIONAL BANK, THE | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.4% |
| HUNTINGTON NATIONAL BANK, THE | FHA mortgage | Trouble during payment process | 3 | 7.3% |
| HUNTINGTON NATIONAL BANK, THE | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.9% |
| HUNTINGTON NATIONAL BANK, THE | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 2.4% |
| HUNTINGTON NATIONAL BANK, THE | Home equity loan or line of credit (HELOC) | Trouble during payment process | 5 | 12.2% |
| HUNTINGTON NATIONAL BANK, THE | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.4% |
| HUNTINGTON NATIONAL BANK, THE | Other type of mortgage | Trouble during payment process | 7 | 17.1% |
| HUNTINGTON NATIONAL BANK, THE | VA mortgage | Closing on a mortgage | 1 | 2.4% |