Aurora Financial Mortgage Rates, Fees & Info
MECHANICSVILLE, VALEI: 549300S93XI20FLTGK89
Tax ID: 20-0137049
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Mortgage Data
Review & Overview
Aurora Financial is a smaller mortgage company specializing in Home Purchase loans. Aurora Financial has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Chicago, Houston, and Philadelphia among others. We have data for 48 markets. (Some data included below & more in-depth data is available with an active subscription.)Aurora Financial 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. Aurora Financial 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 relatively high 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 | 6.24% | 11/17/24 |
| 30 Year Conventional Refi | 6.09% | 11/17/24 |
| 30 Year Cash-out Refi | 6.30% | 11/17/24 |
| 30 Year VA Purchase | 5.65% | 11/17/24 |
| 30 Year VA Refi | 5.54% | 11/17/24 |
| 15 Year Conventional Purchase | 5.65% | 11/17/24 |
| 15 Year Conventional Refi | 5.49% | 11/17/24 |
| 15 Year Cash-out Refi | 5.49% | 11/17/24 |
| 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. | ||
Aurora Financial Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Aurora Financial. 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
135Origination Dollar Volume (All Markets)
$57,075,000Awards
Aurora Financial - 2023
Aurora Financial is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Aurora Financial's average 30 year fixed mortgage rate was
6.52%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.04%.
Relative Fees (Closing Costs)
Aurora Financial's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,497.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 26 | $12,810,000 | $492,692 | $3,270 | 6.38% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 8 | $3,570,000 | $446,250 | $3,517 | 6.39% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $2,810,000 | $351,250 | $5,219 | 6.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $2,510,000 | $418,333 | $5,327 | 6.48% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $2,490,000 | $415,000 | $3,537 | 6.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $2,405,000 | $343,571 | $4,464 | 6.12% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $2,385,000 | $477,000 | $4,366 | 6.65% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,995,000 | $399,000 | $2,660 | 6.02% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $1,940,000 | $485,000 | $3,782 | 6.28% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,870,000 | $467,500 | $3,099 | 6.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,825,000 | $365,000 | $4,276 | 6.95% |
| Outside of Metro Areas | 4 | $1,740,000 | $435,000 | $2,520 | 5.97% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $4,483 | 6.54% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $1,967 | 6.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $3,346 | 5.96% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $2,229 | 6.63% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $6,532 | 6.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $2,745 | 6.44% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $2,464 | 6.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $1,922 | 6.06% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,440 | 6.43% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $4,506 | 6.38% |
| Athens, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,507 | 6.99% |
| DOVER, DE (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,460 | 6.63% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,198 | 7.25% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,648 | 6.99% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,802 | 6.50% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,549 | 7.49% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,206 | 7.13% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,961 | 6.99% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,392 | 5.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,425 | 6.75% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,375 | 5.25% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,844 | 7.38% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,116 | 5.13% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,262 | 6.99% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,382 | 6.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,281 | 5.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,597 | 6.99% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,401 | 6.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,279 | 6.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,805 | 7.75% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,536 | 6.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,382 | 6.99% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,719 | 5.99% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,597 | 5.88% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,156 | 6.88% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,025 | 5.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Aurora Financial 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 | 130 | $54,820,000 | $421,692 | $3,359 | 6.46% |
| VA | 5 | $2,255,000 | $451,000 | $6,944 | 5.83% |
For 2023, Aurora Financial's most frequently originated type of loan was Conventional, with 130 originations. Their 2nd most popular type was VA, with 5 originations.
Loan Reason
For 2023, Aurora Financial's most frequently cited loan purpose was Home Purchase, with 122 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
For 2023, Aurora Financial's most frequently cited loan duration was 30 Year, with 117 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 123 | $53,555,000 | $435,407 |
| $2k-3k | 7 | $1,995,000 | $285,000 |
| $1k-2k | 3 | $655,000 | $218,333 |
| $5k+ | 2 | $870,000 | $435,000 |
Aurora Financial's average total fees were $3,497, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 123 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 86 | $37,390,000 | $434,767 |
| 5-6% | 34 | $13,340,000 | $392,353 |
| 7-8% | 15 | $6,345,000 | $423,000 |
During 2023, Aurora Financial's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was 6-7%, with 86 originations.
Loan Sizing
2023 saw Aurora Financial place emphasis on $200k-400k loans with 60 originations, totaling $19,930,000 in origination value.
Applicant Income
Aurora Financial lent most frequently to those with incomes in the $150k-250k range, with 54 originations. The second most popular income band? $100k-150k, with 38 originations.
Applicant Debt to Income Ratio
Aurora Financial lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.26%
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 origination75.56%
Aurora Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 135 | $57,075,000 | $422,778 |