Hometown Bank Mortgage Rates, Fees & Info

Galveston, TX

LEI: 549300SHQJPJG8CN8153

Tax ID: 74-1541411

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Mortgage Data

Review & Overview

Hometown Bank is a smaller bank specializing in Home Purchase loans. Hometown Bank has a high proportion of conventional loans. Their top two markets are Houston and San Antonio .

Hometown Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

70

Origination Dollar Volume (All Markets)

$34,700,000

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 68 $28,950,000 $425,735 $0 0.00%
Outside of Metro Areas 1 $5,565,000 $5,565,000 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Hometown Bank's top markets include Houston and San Antonio among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $34,700,000 $495,714 $0 0.00%

    For 2023, Hometown Bank's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $29,025,000 $707,927 $0 0.00%
    Home Improvement 17 $2,195,000 $129,118 $0 0.00%
    Refi 9 $2,925,000 $325,000 $0 0.00%
    Other 3 $555,000 $185,000 $0 0.00%

    For 2023, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Home Improvement, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 70 $34,700,000 $495,714 $0 0.00%

    For 2023, Hometown Bank's most frequently cited loan duration was Other, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 22 $3,280,000 $149,091 $0 0.00%
    $200k-400k 12 $3,160,000 $263,333 $0 0.00%
    $400k-600k 12 $5,660,000 $471,667 $0 0.00%
    $100,000 or less 11 $765,000 $69,545 $0 0.00%
    $1MM+ 8 $18,190,000 $2,273,750 $0 0.00%
    $600k-1MM 5 $3,645,000 $729,000 $0 0.00%

    2023 saw Hometown Bank place emphasis on $100k-200k loans with 22 originations, totaling $3,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $1,495,000 $115,000 $0 0.00%
    $250k+ 13 $8,725,000 $671,154 $0 0.00%
    $150k-250k 10 $3,280,000 $328,000 $0 0.00%
    $50k-75k 6 $840,000 $140,000 $0 0.00%
    $50k or less 5 $1,515,000 $303,000 $0 0.00%
    $75k-100k 2 $410,000 $205,000 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $250k+, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 70 $34,700,000 $495,714 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $18,435,000 $877,857 $0 0.00%
    White 37 $11,425,000 $308,784 $0 0.00%
    Black 5 $3,125,000 $625,000 $0 0.00%
    Not provided 6 $1,640,000 $273,333 $0 0.00%
    Asian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.98%

    Hometown Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.00%

    Hometown Bank 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
    Exempt 70 $34,700,000 $495,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    70 $34,700,000 $495,714