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 and Cash Out Refi loans. Aurora Financial has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Raleigh, Charlotte, and Richmond 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.09% | 4/18/24 |
| 30 Year Cash-out Refi | 6.30% | 4/18/24 |
| 30 Year VA Purchase | 5.65% | 4/18/24 |
| 30 Year VA Refi | 5.54% | 4/18/24 |
| 15 Year Conventional Purchase | 5.65% | 4/18/24 |
| 15 Year Conventional Refi | 5.49% | 4/18/24 |
| 15 Year Cash-out Refi | 5.49% | 4/18/24 |
| 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
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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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) | 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% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 733 | $268,075,000 | $365,723 | $2,091 | 2.64% |
| VA | 5 | $2,185,000 | $437,000 | $6,525 | 2.53% |
For 2021, Aurora Financial's most frequently originated type of loan was Conventional, with 733 originations. Their 2nd most popular type was VA, with 5 originations.
Loan Reason
For 2021, Aurora Financial's most frequently cited loan purpose was Refi, with 438 originations. The 2nd most popular reason was Cash Out Refi, with 192 originations.
Loan Duration/Length
For 2021, Aurora Financial's most frequently cited loan duration was 30 Year, with 466 originations. The 2nd most popular length was 15 Year, with 182 originations.
Origination Fees/Closing Costs
Aurora Financial's average total fees were $2,272, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 421 originations.
Loan Sizing
2021 saw Aurora Financial place emphasis on $200k-400k loans with 485 originations, totaling $150,545,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.92%
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 origination85.64%
Aurora Financial has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 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% |