Aurora Financial Mortgage Rates, Fees & Info
MECHANICSVILLE, VALEI: 549300S93XI20FLTGK89
Tax ID: 20-0137049
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Aurora Financial is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Aurora Financial has a high proportion of conventional loans. Their top markets include Washington, Baltimore, Raleigh, Charlotte, and Richmond among others. Aurora Financial has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Aurora Financial is typically a low fee lendor.Originations
738Origination Dollar Volume (All Markets)
$270,260,000Awards
Aurora Financial - 2021
Aurora Financial is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Aurora Financial 's average 30 year fixed rate mortgage of loans were
2.83%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.32%.
Relative Fees
Aurora Financial 's average total fees for a 30 year fixed rate
mortgage are $2,272.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 324 | $129,460,000 | $399,568 | $2,022 | 2.61% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 86 | $30,570,000 | $355,465 | $1,950 | 2.54% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 35 | $11,335,000 | $323,857 | $2,056 | 2.79% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 30 | $10,110,000 | $337,000 | $1,878 | 2.72% |
| RICHMOND, VA (FHA|USDA|VA) | 28 | $8,950,000 | $319,643 | $1,800 | 2.59% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 20 | $6,570,000 | $328,500 | $1,853 | 2.60% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 17 | $6,345,000 | $373,235 | $2,127 | 2.70% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 17 | $5,875,000 | $345,588 | $2,849 | 2.87% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 11 | $3,985,000 | $362,273 | $2,664 | 2.72% |
| Outside of Metro Areas | 11 | $3,245,000 | $295,000 | $1,873 | 2.60% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 10 | $3,090,000 | $309,000 | $2,091 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $2,990,000 | $373,750 | $3,644 | 2.81% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $2,420,000 | $403,333 | $1,780 | 2.79% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 7 | $2,405,000 | $343,571 | $1,780 | 2.68% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 8 | $2,390,000 | $298,750 | $1,746 | 2.64% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 5 | $2,215,000 | $443,000 | $3,088 | 2.78% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $2,200,000 | $366,667 | $3,042 | 2.60% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $1,573 | 2.57% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,960,000 | $490,000 | $2,396 | 2.53% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,915,000 | $383,000 | $3,836 | 2.95% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 5 | $1,895,000 | $379,000 | $1,936 | 2.75% |
| WILMINGTON, NC (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $4,789 | 2.78% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $2,168 | 2.58% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,535,000 | $307,000 | $2,385 | 2.80% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $3,442 | 2.66% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $4,122 | 2.42% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,070,000 | $535,000 | $1,795 | 2.81% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $1,759 | 2.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $2,113 | 2.96% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $2,547 | 2.42% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $3,141 | 2.06% |
| BRUNSWICK, GA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $2,007 | 2.81% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $2,208 | 2.25% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $1,357 | 2.69% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $1,940 | 2.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $2,756 | 3.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $3,658 | 2.69% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $1,507 | 2.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $2,450 | 2.69% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $2,000 | 2.88% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,361 | 2.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,118 | 3.06% |
| HARRISONBURG, VA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $1,587 | 2.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,941 | 2.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,579 | 2.19% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $1,370 | 2.50% |
| SALEM, OR (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,761 | 2.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,694 | 2.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $1,469 | 2.88% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,212 | 2.75% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,750 | 2.88% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,385 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,159 | 3.25% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,793 | 2.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,126 | 3.13% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,084 | 2.13% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,683 | 2.88% |
| Henderson, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,402 | 2.75% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,123 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,937 | 2.88% |
| Seneca, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,163 | 3.00% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,761 | 2.13% |
| Sanford, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,410 | 2.75% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,146 | 3.13% |
| Danville, VA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,465 | 2.75% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,372 | 2.13% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,093 | 2.75% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,419 | 2.88% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,727 | 2.88% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,830 | 3.13% |
| Shelby, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,168 | 2.88% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,421 | 3.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,221 | 3.00% |
Aurora Financial 's top markets include Washington, Baltimore, Raleigh, Charlotte, and Richmond among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 733 | $268,075,000 | $365,723 | $2,091 | 2.64% |
| VA | 5 | $2,185,000 | $437,000 | $6,525 | 2.53% |
For the 2021 period, Aurora Financial 's most frequently originated loan type of loans were Conventional, with 733 originations. Their 2nd most popular type is VA, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 438 | $157,140,000 | $358,767 | $1,867 | 2.56% |
| Cash Out Refi | 192 | $71,120,000 | $370,417 | $2,115 | 2.73% |
| Home Purchase | 108 | $42,000,000 | $388,889 | $3,157 | 2.80% |
For the 2021, Aurora Financial 's most frequently cited loan purpose of loans were Refi, with 438 originations. The 2nd most popular reason of loans were Cash Out Refi, with 192 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 466 | $177,140,000 | $380,129 | $2,272 | 2.83% |
| 15 Year | 182 | $63,400,000 | $348,352 | $1,912 | 2.24% |
| 20 Year | 60 | $20,520,000 | $342,000 | $1,812 | 2.63% |
| 10 Year | 27 | $8,315,000 | $307,963 | $1,663 | 2.14% |
| Other | 3 | $885,000 | $295,000 | $1,516 | 2.96% |
For the 2021, Aurora Financial 's most frequently cited loan length of loans were 30 Year, with 466 originations. The 2nd most popular length of loans were 15 Year, with 182 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 694 | $254,960,000 | $367,378 |
| $1k-2k | 29 | $9,335,000 | $321,897 |
| $2k-3k | 7 | $2,565,000 | $366,429 |
| $3k-4k | 6 | $2,370,000 | $395,000 |
| $5k+ | 2 | $1,030,000 | $515,000 |
$2,272 of loans were Aurora Financial 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 694 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 421 | $156,805,000 | $372,458 |
| <2.5% | 259 | $93,345,000 | $360,405 |
| 3-4% | 56 | $19,400,000 | $346,429 |
| 4-5% | 2 | $710,000 | $355,000 |
During 2021, Aurora Financial 's average interest rate of loans were 2.83%, while their most frequently originated rate bucket of loans were 2.5-3%, with 421 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 485 | $150,545,000 | $310,402 | $1,908 | 2.62% |
| $400k-600k | 211 | $100,195,000 | $474,858 | $2,467 | 2.62% |
| $600k-1MM | 23 | $16,455,000 | $715,435 | $3,044 | 2.89% |
| $100k-200k | 18 | $2,970,000 | $165,000 | $2,611 | 2.97% |
| $100,000 or less | 1 | $95,000 | $95,000 | $1,929 | 3.50% |
2021 saw Aurora Financial place emphasis on $200k-400k loans with 485 originations, totaling $150,545,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 265 | $103,905,000 | $392,094 | $2,236 | 2.59% |
| $100k-150k | 261 | $91,175,000 | $349,330 | $1,975 | 2.65% |
| $75k-100k | 93 | $30,385,000 | $326,720 | $2,183 | 2.72% |
| $250k+ | 74 | $32,520,000 | $439,459 | $2,116 | 2.54% |
| $50k-75k | 38 | $10,510,000 | $276,579 | $2,124 | 2.84% |
| $50k or less | 5 | $935,000 | $187,000 | $2,343 | 3.05% |
Aurora Financial lent most frequently to those with incomes in the $150k-250k range, with 265 originations. The second most popular income band? $100k-150k, with 261 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 251 | $92,635,000 | $369,064 | $2,046 | 2.59% |
| 30-36% | 158 | $58,910,000 | $372,848 | $2,155 | 2.70% |
| <20% | 133 | $43,245,000 | $325,150 | $1,934 | 2.59% |
| 37% | 29 | $10,855,000 | $374,310 | $2,409 | 2.60% |
| 38% | 24 | $10,430,000 | $434,583 | $2,255 | 2.72% |
| 40% | 23 | $9,765,000 | $424,565 | $2,013 | 2.71% |
| 42% | 22 | $7,820,000 | $355,455 | $2,227 | 2.80% |
| 43% | 20 | $7,050,000 | $352,500 | $2,351 | 2.86% |
| 41% | 19 | $7,445,000 | $391,842 | $2,466 | 2.55% |
| 39% | 17 | $6,205,000 | $365,000 | $1,993 | 2.69% |
| 36% | 14 | $4,920,000 | $351,429 | $2,362 | 2.65% |
| 44% | 7 | $2,865,000 | $409,286 | $4,461 | 2.82% |
| 45% | 5 | $1,655,000 | $331,000 | $1,707 | 2.48% |
| 47% | 3 | $1,275,000 | $425,000 | $2,409 | 2.63% |
| 46% | 1 | $485,000 | $485,000 | $1,923 | 2.88% |
| 48% | 1 | $365,000 | $365,000 | $2,108 | 2.50% |
Aurora Financial lent most frequently to those with DTI ratios of 20-30%, with 251 originations. The next most common DTI ratio? 30-36%, with 158 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 440 | $159,730,000 | $363,023 | $2,120 | 2.67% |
| Not provided | 153 | $56,725,000 | $370,752 | $2,159 | 2.60% |
| Asian | 109 | $40,505,000 | $371,606 | $2,060 | 2.59% |
| Black | 31 | $11,645,000 | $375,645 | $2,175 | 2.71% |
| Asian Indian | 2 | $640,000 | $320,000 | $1,582 | 2.19% |
| American Indian | 2 | $540,000 | $270,000 | $2,424 | 2.44% |
| Other Asian | 1 | $475,000 | $475,000 | $1,740 | 2.63% |
Approval Rates
Total approvals of all applications96.49%
Aurora Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.90%
Aurora Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 738 | $270,260,000 | $366,206 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 738 | $270,260,000 | $366,206 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 1 | $145,000 | $145,000 | $3,091 | 3.50% |
| 80-100% | 1 | $405,000 | $405,000 | $2,068 | 2.88% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Aurora Financial, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 50.0% |
| Aurora Financial, LLC | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |
