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 Refi, Home Purchase, and Cash Out Refi loans. Aurora Financial has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Baltimore, Richmond, Charlotte, and Atlanta among others. We have data for 73 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% | 4/22/24 |
| 30 Year Conventional Refi | 6.09% | 4/22/24 |
| 30 Year Cash-out Refi | 6.30% | 4/22/24 |
| 30 Year VA Purchase | 5.65% | 4/22/24 |
| 30 Year VA Refi | 5.54% | 4/22/24 |
| 15 Year Conventional Purchase | 5.65% | 4/22/24 |
| 15 Year Conventional Refi | 5.49% | 4/22/24 |
| 15 Year Cash-out Refi | 5.49% | 4/22/24 |
| 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
650Origination Dollar Volume (All Markets)
$243,360,000Awards
Aurora Financial - 2019
Aurora Financial is a 2019 , due to their low .
For 2019, 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) | 241 | $96,275,000 | $399,481 | $2,848 | 3.70% |
| Outside of Metro Areas | 73 | $27,075,000 | $370,890 | $3,045 | 3.71% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 57 | $20,475,000 | $359,211 | $2,718 | 3.66% |
| RICHMOND, VA (FHA|USDA|VA) | 27 | $7,735,000 | $286,481 | $2,412 | 3.74% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 19 | $6,145,000 | $323,421 | $2,628 | 3.75% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 16 | $6,050,000 | $378,125 | $2,652 | 3.71% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 14 | $5,140,000 | $367,143 | $5,090 | 3.77% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 10 | $4,760,000 | $476,000 | $2,781 | 3.85% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 11 | $4,675,000 | $425,000 | $3,297 | 3.67% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 13 | $3,755,000 | $288,846 | $2,130 | 3.78% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 10 | $3,340,000 | $334,000 | $3,835 | 3.64% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $3,195,000 | $456,429 | $2,649 | 3.66% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $3,180,000 | $397,500 | $3,441 | 3.88% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 8 | $2,800,000 | $350,000 | $1,925 | 3.69% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $2,660,000 | $665,000 | $3,086 | 3.81% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 7 | $2,575,000 | $367,857 | $2,659 | 3.91% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $2,490,000 | $415,000 | $1,946 | 3.83% |
| ASHEVILLE, NC (FHA|USDA|VA) | 7 | $2,255,000 | $322,143 | $2,486 | 3.71% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 7 | $2,065,000 | $295,000 | $2,304 | 3.66% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 4 | $2,040,000 | $510,000 | $1,825 | 3.91% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $1,820,000 | $303,333 | $2,237 | 3.79% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $1,800,000 | $450,000 | $3,413 | 3.94% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,645,000 | $329,000 | $6,741 | 3.85% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,630,000 | $407,500 | $3,215 | 3.53% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $2,548 | 4.16% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $1,425,000 | $475,000 | $2,812 | 4.17% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $2,709 | 3.69% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $2,588 | 3.79% |
| ROANOKE, VA (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $2,246 | 3.82% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $3,677 | 3.83% |
| LYNCHBURG, VA (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $2,344 | 3.44% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $3,956 | 3.50% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,805 | 3.75% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $1,987 | 3.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $2,995 | 3.68% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $2,243 | 3.75% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $5,552 | 4.13% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $2,161 | 3.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $5,289 | 4.06% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $2,537 | 4.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $4,272 | 3.94% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $1,971 | 3.63% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $1,626 | 4.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $10,761 | 3.63% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,870 | 3.69% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,928 | 3.56% |
| Edwards, CO (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $6,205 | 3.99% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,520 | 3.56% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,265 | 3.50% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $14,798 | 3.25% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,653 | 3.50% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,924 | 3.13% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,093 | 3.63% |
| READING, PA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,758 | 3.88% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,690 | 4.38% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,352 | 3.50% |
| Easton, MD (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,997 | 3.75% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,585 | 3.99% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $1,842 | 3.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,118 | 4.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,341 | 3.75% |
| CHICO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,912 | 3.63% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,448 | 3.75% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,265 | 4.13% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,830 | 4.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,198 | 3.38% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,820 | 3.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,547 | 3.63% |
| Danville, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,076 | 3.99% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,810 | 4.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,627 | 3.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,670 | 3.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,002 | 4.99% |
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 | 615 | $229,615,000 | $373,358 | $2,742 | 3.75% |
| VA | 32 | $13,020,000 | $406,875 | $6,422 | 3.33% |
| FHA | 3 | $725,000 | $241,667 | $6,468 | 3.58% |
For 2019, Aurora Financial's most frequently originated type of loan was Conventional, with 615 originations. Their 2nd most popular type was VA, with 32 originations.
Loan Reason
For 2019, Aurora Financial's most frequently cited loan purpose was Refi, with 311 originations. The 2nd most popular reason was Home Purchase, with 184 originations.
Loan Duration/Length
For 2019, Aurora Financial's most frequently cited loan duration was 30 Year, with 493 originations. The 2nd most popular length was 15 Year, with 106 originations.
Origination Fees/Closing Costs
Aurora Financial's average total fees were $2,991, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 521 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 511 | $190,545,000 | $372,886 |
| 4-5% | 115 | $44,015,000 | $382,739 |
| 2.5-3% | 23 | $8,245,000 | $358,478 |
| 5-6% | 1 | $555,000 | $555,000 |
During 2019, Aurora Financial's average interest rate for loans was 3.82%, while their most frequently originated rate bucket for loans was 3-4%, with 511 originations.
Loan Sizing
2019 saw Aurora Financial place emphasis on $200k-400k loans with 386 originations, totaling $117,480,000 in origination value.
Applicant Income
Aurora Financial lent most frequently to those with incomes in the $100k-150k range, with 232 originations. The second most popular income band? $150k-250k, with 212 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.56%
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 origination71.23%
Aurora Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 650 | $243,360,000 | $374,400 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 650 | $243,360,000 | $374,400 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Aurora Financial, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |