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 and Refi loans. Aurora Financial has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Los Angeles, Baltimore, Seattle, and Chicago among others. We have data for 72 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 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 | 6.24% | 12/16/24 |
| 30 Year Conventional Refi | 6.09% | 12/16/24 |
| 30 Year Cash-out Refi | 6.30% | 12/16/24 |
| 30 Year VA Purchase | 5.65% | 12/16/24 |
| 30 Year VA Refi | 5.54% | 12/16/24 |
| 15 Year Conventional Purchase | 5.65% | 12/16/24 |
| 15 Year Conventional Refi | 5.49% | 12/16/24 |
| 15 Year Cash-out Refi | 5.49% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
414Origination Dollar Volume (All Markets)
$165,050,000Awards
Aurora Financial - 2018
Aurora Financial 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 87 | $35,605,000 | $409,253 | $2,635 | 4.24% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 24 | $11,690,000 | $487,083 | $2,900 | 4.20% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 22 | $8,850,000 | $402,273 | $2,914 | 4.30% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 17 | $7,635,000 | $449,118 | $3,245 | 4.21% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 20 | $7,420,000 | $371,000 | $4,248 | 3.94% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 16 | $6,840,000 | $427,500 | $3,066 | 3.98% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 13 | $5,325,000 | $409,615 | $3,647 | 4.20% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 14 | $5,100,000 | $364,286 | $2,731 | 4.11% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 12 | $5,050,000 | $420,833 | $2,393 | 4.10% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 13 | $4,985,000 | $383,462 | $3,697 | 4.10% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $4,965,000 | $331,000 | $3,762 | 4.27% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 10 | $4,080,000 | $408,000 | $2,794 | 4.11% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 11 | $3,965,000 | $360,455 | $2,513 | 4.18% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 10 | $3,880,000 | $388,000 | $3,326 | 4.20% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 9 | $3,365,000 | $373,889 | $4,507 | 4.06% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 8 | $3,170,000 | $396,250 | $3,376 | 4.14% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 6 | $2,720,000 | $453,333 | $4,164 | 4.08% |
| RICHMOND, VA (FHA|USDA|VA) | 7 | $2,595,000 | $370,714 | $2,284 | 4.34% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 7 | $2,435,000 | $347,857 | $3,628 | 4.27% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $2,160,000 | $360,000 | $3,665 | 3.90% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,130,000 | $355,000 | $3,425 | 4.40% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,640,000 | $820,000 | $2,247 | 3.38% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,510,000 | $377,500 | $3,494 | 4.06% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $1,505,000 | $501,667 | $3,283 | 4.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $3,978 | 4.19% |
| Outside of Metro Areas | 3 | $1,345,000 | $448,333 | $3,142 | 4.21% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $3,233 | 3.84% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $2,117 | 4.16% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $3,229 | 4.17% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $2,792 | 3.96% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $2,521 | 4.25% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $4,014 | 4.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $2,537 | 3.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $3,535 | 4.31% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $2,134 | 4.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,099 | 4.06% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $2,523 | 4.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $3,043 | 4.25% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $3,386 | 4.50% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $3,453 | 4.63% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $2,188 | 4.63% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,163 | 4.63% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $2,497 | 3.25% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,783 | 4.38% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,932 | 4.00% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,325 | 3.75% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,408 | 3.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,981 | 3.63% |
| Boone, NC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,231 | 4.50% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,356 | 4.38% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,822 | 4.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,327 | 3.25% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,772 | 3.25% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,933 | 4.50% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,279 | 3.00% |
| SALEM, OR (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,099 | 4.75% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,035 | 4.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,218 | 3.13% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,341 | 4.25% |
| BEND, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,262 | 4.63% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $7,163 | 4.13% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,391 | 4.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,740 | 4.38% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,934 | 3.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,146 | 4.50% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,351 | 3.88% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,057 | 3.63% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,275 | 4.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,004 | 4.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,709 | 4.38% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,414 | 4.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,913 | 4.63% |
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 | 414 | $165,050,000 | $398,671 | $3,122 | 4.16% |
For 2018, Aurora Financial's most frequently originated type of loan was Conventional, with 414 originations.
Loan Reason
For 2018, Aurora Financial's most frequently cited loan purpose was Home Purchase, with 250 originations. The 2nd most popular reason was Refi, with 89 originations.
Loan Duration/Length
For 2018, Aurora Financial's most frequently cited loan duration was 30 Year, with 316 originations. The 2nd most popular length was 15 Year, with 81 originations.
Origination Fees/Closing Costs
Aurora Financial's average total fees were $3,179, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 339 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 247 | $99,105,000 | $401,235 |
| 3-4% | 154 | $61,860,000 | $401,688 |
| 5-6% | 9 | $2,655,000 | $295,000 |
| 2.5-3% | 4 | $1,430,000 | $357,500 |
During 2018, Aurora Financial's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 4-5%, with 247 originations.
Loan Sizing
2018 saw Aurora Financial place emphasis on $200k-400k loans with 222 originations, totaling $72,700,000 in origination value.
Applicant Income
Aurora Financial lent most frequently to those with incomes in the $150k-250k range, with 157 originations. The second most popular income band? $100k-150k, with 140 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 3 | $1,245,000 | $415,000 | $2,399 | 4.04% |
| 30-36% | 2 | $760,000 | $380,000 | $2,598 | 4.06% |
| 38% | 1 | $625,000 | $625,000 | $1,952 | 4.38% |
Aurora Financial lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 30-36%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.34%
Aurora Financial has an average approval rate.
Pick Rate
Approvals leading to origination62.08%
Aurora Financial 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 | 414 | $165,050,000 | $398,671 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 414 | $165,050,000 | $398,671 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Aurora Financial, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |
| Aurora Financial, LLC | Other type of mortgage | Trouble during payment process | 1 | 33.3% |