Hometown Equity Mortgage Rates, Fees & Info

Clayton, MO

LEI: 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.

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 8.28% 3/28/24
30 Year Conventional Refi 7.48% 3/28/24
30 Year Cash-out Refi 7.84% 3/28/24
30 Year FHA Purchase 7.72% 3/28/24
30 Year FHA Refi 7.10% 3/28/24
30 Year VA Purchase 6.40% 3/28/24
30 Year VA Refi 5.96% 3/28/24
30 Year USDA Purchase 6.81% 3/28/24
30 Year USDA Refi 6.27% 3/28/24
15 Year Conventional Purchase 6.25% 3/28/24
15 Year Conventional Refi 6.15% 3/28/24
15 Year Cash-out Refi 6.15% 3/28/24
15 Year FHA Purchase 7.21% 3/28/24
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






Your Estimates

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

This is not an official calculator from Hometown Equity Mortgage. 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

81

Origination Dollar Volume (All Markets)

$13,945,000

Awards

Hometown Equity Mortgage VA Loans gold
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
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%
Hometown Equity Mortgage's top markets include St. Louis, Kansas City, Carbondale, Topeka, and Springfield among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • 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.

    Monterey Credit Union
    Similarity Rank: 16
    ABNB Federal Credit Union
    Similarity Rank: 40
    MYPOINT Credit Union
    Similarity Rank: 55
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 108
    Community Bank of Trenton
    Similarity Rank: 108
    FRONTWAVE
    Similarity Rank: 176

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 34 $5,480,000 $161,176 $5,996 4.56%
    Conventional 33 $5,905,000 $178,939 $3,560 4.71%
    VA 12 $2,280,000 $190,000 $4,441 4.63%
    USDA 2 $280,000 $140,000 $4,078 4.63%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $7,590,000 $165,000 $4,797 4.86%
    Cash Out Refi 22 $3,930,000 $178,636 $4,734 4.46%
    Refi 13 $2,425,000 $186,538 $4,461 4.13%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 69 $12,145,000 $176,014 $4,836 4.74%
    15 Year 9 $1,205,000 $133,889 $3,787 3.99%
    Other 2 $390,000 $195,000 $5,513 3.88%
    20 Year 1 $205,000 $205,000 $3,986 4.88%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 44 $6,740,000 $153,182 $4,839 4.60%
    $200k-400k 25 $6,275,000 $251,000 $5,050 4.64%
    $100,000 or less 12 $930,000 $77,500 $3,635 4.74%

    2018 saw Hometown Equity Mortgage place emphasis on $100k-200k loans with 44 originations, totaling $6,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 22 $3,430,000 $155,909 $5,079 4.76%
    $50k or less 22 $2,620,000 $119,091 $4,347 4.59%
    $75k-100k 20 $4,020,000 $201,000 $4,172 4.58%
    $100k-150k 15 $3,465,000 $231,000 $5,431 4.62%
    $150k-250k 2 $410,000 $205,000 $5,261 4.50%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 12 $2,200,000 $183,333 $4,862 4.83%
    20-30% 11 $1,615,000 $146,818 $4,826 4.66%
    50-60% 8 $1,470,000 $183,750 $4,875 4.63%
    46% 6 $830,000 $138,333 $4,206 4.31%
    48% 5 $875,000 $175,000 $5,186 4.53%
    44% 5 $715,000 $143,000 $3,937 4.43%
    43% 4 $940,000 $235,000 $5,144 5.19%
    42% 3 $485,000 $161,667 $3,176 4.83%
    36% 3 $405,000 $135,000 $4,048 4.21%
    38% 3 $415,000 $138,333 $5,329 4.54%
    39% 3 $755,000 $251,667 $4,684 4.88%
    40% 3 $555,000 $185,000 $4,849 4.25%
    45% 3 $735,000 $245,000 $5,893 4.50%
    47% 3 $495,000 $165,000 $5,446 4.42%
    49% 3 $435,000 $145,000 $4,296 4.54%
    <20% 2 $350,000 $175,000 $4,533 4.63%
    37% 2 $400,000 $200,000 $3,955 4.88%
    41% 1 $65,000 $65,000 $3,293 5.13%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $10,690,000 $167,031 $4,460 4.56%
    Not provided 11 $2,505,000 $227,727 $6,064 5.11%
    Black 5 $625,000 $125,000 $5,069 4.53%
    Asian 1 $125,000 $125,000 $5,299 4.25%

    Approval Rates

    Total approvals of all applications
    95.52%

    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 origination
    44.44%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 1 $55,000 $55,000 $3,264 4.25%
    60-80% 15 $2,635,000 $175,667 $4,316 4.66%
    80-100% 64 $11,070,000 $172,969 $4,813 4.63%
    Over 100% 1 $185,000 $185,000 $6,764 4.63%

    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%