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 Cash Out Refi loans. Aurora Financial has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Raleigh, New York, and Chicago among others. We have data for 52 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.09% | 4/28/24 |
| 30 Year Cash-out Refi | 6.30% | 4/28/24 |
| 30 Year VA Purchase | 5.65% | 4/28/24 |
| 30 Year VA Refi | 5.54% | 4/28/24 |
| 15 Year Conventional Purchase | 5.65% | 4/28/24 |
| 15 Year Conventional Refi | 5.49% | 4/28/24 |
| 15 Year Cash-out Refi | 5.49% | 4/28/24 |
| 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
173Origination Dollar Volume (All Markets)
$70,195,000Awards
Aurora Financial - 2022
Aurora Financial is a 2022 , due to their low .
For 2022, 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) | 42 | $18,530,000 | $441,190 | $2,228 | 4.01% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 11 | $4,495,000 | $408,636 | $2,590 | 4.15% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 10 | $4,300,000 | $430,000 | $2,052 | 3.85% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $3,165,000 | $452,143 | $4,832 | 5.52% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 7 | $2,255,000 | $322,143 | $3,331 | 4.84% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $2,230,000 | $371,667 | $3,979 | 4.10% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $2,215,000 | $443,000 | $3,231 | 3.85% |
| ASHEVILLE, NC (FHA|USDA|VA) | 5 | $1,635,000 | $327,000 | $2,342 | 4.67% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $1,625,000 | $325,000 | $2,272 | 3.85% |
| Outside of Metro Areas | 4 | $1,590,000 | $397,500 | $2,664 | 3.91% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $1,979 | 3.52% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $2,353 | 3.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $1,315,000 | $438,333 | $2,845 | 4.58% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $1,973 | 3.96% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $1,080,000 | $540,000 | $5,300 | 4.87% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $1,735 | 3.46% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $2,215 | 3.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $2,698 | 4.25% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $2,323 | 5.00% |
| BEND, OR (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $4,286 | 5.19% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $2,053 | 3.33% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $4,052 | 2.88% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $1,900 | 4.99% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $2,152 | 4.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $3,310 | 4.56% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $2,645 | 5.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $1,842 | 4.75% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $1,778 | 4.19% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $3,775 | 4.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $2,485 | 4.44% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $2,037 | 2.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $4,334 | 3.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $2,294 | 4.25% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $2,484 | 2.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,250 | 5.50% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 5.50% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,444 | 5.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $13,169 | 4.25% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,820 | 5.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,975 | 4.49% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,426 | 5.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,642 | 5.50% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,374 | 2.38% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,850 | 3.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,121 | 2.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,190 | 4.99% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,390 | 3.13% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,720 | 3.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 6.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 5.50% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.75% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,956 | 4.88% |
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 | 163 | $65,885,000 | $404,202 | $2,607 | 4.24% |
| VA | 10 | $4,310,000 | $431,000 | $3,808 | 3.83% |
For 2022, Aurora Financial's most frequently originated type of loan was Conventional, with 163 originations. Their 2nd most popular type was VA, with 10 originations.
Loan Reason
For 2022, Aurora Financial's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Refi, with 39 originations.
Loan Duration/Length
For 2022, Aurora Financial's most frequently cited loan duration was 30 Year, with 138 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 139 | $57,565,000 | $414,137 |
| $1k-2k | 4 | $1,600,000 | $400,000 |
Aurora Financial's average total fees were $2,777, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 139 originations.
Interest Rates
During 2022, Aurora Financial's average interest rate for loans was 4.39%, while their most frequently originated rate bucket for loans was 4-5%, with 59 originations.
Loan Sizing
2022 saw Aurora Financial place emphasis on $200k-400k loans with 90 originations, totaling $28,710,000 in origination value.
Applicant Income
Aurora Financial lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $150k-250k, with 56 originations.
Applicant Debt to Income Ratio
Aurora Financial lent most frequently to those with DTI ratios of 30-36%, with 39 originations. The next most common DTI ratio? 20-30%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.58%
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 origination69.36%
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 | 173 | $70,195,000 | $405,751 |