Homestead Funding Corp. Mortgage Rates, Fees & Info

ALBANY, NY

LEI: 549300T3F9S1MKFKHC53

Tax ID: 14-1770243

5 stars - Updated: 7/14/24 - out of 5 stars, based on 69 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Homestead Funding Corp. is a small mortgage company specializing in Home Purchase loans. Homestead Funding Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Albany, Poughkeepsie, Binghamton, Glens Falls, and New York among others. We have data for 185 markets. (Some data included below & more in-depth data is available with an active subscription.)

Homestead Funding Corp. 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. Homestead Funding Corp. is typically an average 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.39% 7/14/24
30 Year Conventional Refi 6.23% 7/14/24
30 Year Cash-out Refi 6.51% 7/14/24
30 Year FHA Purchase 7.15% 7/14/24
30 Year FHA Refi 6.96% 7/14/24
30 Year VA Purchase 6.27% 7/14/24
30 Year VA Refi 6.05% 7/14/24
30 Year USDA Purchase 6.75% 7/14/24
15 Year Conventional Purchase 5.96% 7/14/24
15 Year Conventional Refi 5.77% 7/14/24
15 Year Cash-out Refi 5.77% 7/14/24
15 Year FHA Purchase 7.03% 7/14/24
15 Year VA Refi 6.04% 7/14/24
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.

Homestead Funding Corp. Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Homestead Funding Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

4,794

Origination Dollar Volume (All Markets)

$1,217,880,000
Show all (40) awards

Relative Rate

Homestead Funding Corp.'s average 30 year fixed mortgage rate was 6.4%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.08%.

Relative Fees (Closing Costs)

Homestead Funding Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $5,227.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1,284 $341,240,000 $265,763 $5,416 6.45%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 281 $95,705,000 $340,587 $7,447 6.71%
Outside of Metro Areas 315 $80,635,000 $255,984 $5,484 6.56%
BINGHAMTON, NY (FHA|USDA|VA) 360 $58,190,000 $161,639 $3,994 6.67%
GLENS FALLS, NY (FHA|USDA|VA) 243 $53,455,000 $219,979 $4,640 6.56%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 94 $42,080,000 $447,660 $8,489 6.61%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 258 $41,330,000 $160,194 $3,779 4.57%
KINGSTON, NY (FHA|USDA|VA) 130 $40,770,000 $313,615 $6,182 6.78%
SYRACUSE, NY (FHA|USDA|VA) 224 $39,800,000 $177,679 $4,453 6.66%
UTICA-ROME, NY (FHA|USDA|VA) 180 $35,000,000 $194,444 $4,643 6.55%
Hudson, NY (FHA|USDA|VA) 96 $34,570,000 $360,104 $6,100 6.38%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 93 $19,245,000 $206,935 $4,541 5.56%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 87 $18,765,000 $215,690 $5,880 6.19%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 50 $16,790,000 $335,800 $5,531 5.97%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 72 $16,680,000 $231,667 $5,465 6.57%
SPRINGFIELD, MA (FHA|USDA|VA) 61 $16,415,000 $269,098 $6,244 6.90%
Gloversville, NY (FHA|USDA|VA) 71 $14,415,000 $203,028 $4,109 6.58%
Amsterdam, NY (FHA|USDA|VA) 69 $12,525,000 $181,522 $4,076 6.53%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 51 $12,375,000 $242,647 $5,233 5.29%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 29 $10,505,000 $362,241 $5,848 6.70%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 30 $10,130,000 $337,667 $5,950 6.43%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 28 $10,040,000 $358,571 $6,636 6.83%
Oneonta, NY (FHA|USDA|VA) 45 $9,265,000 $205,889 $4,428 6.83%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 31 $9,205,000 $296,935 $5,664 6.41%
ROCHESTER, NY (FHA|USDA|VA) 44 $7,430,000 $168,864 $4,185 6.52%
WORCESTER, MA-CT (FHA|USDA|VA) 30 $6,960,000 $232,000 $5,756 5.08%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 16 $5,630,000 $351,875 $4,596 6.51%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $5,600,000 $466,667 $5,925 6.59%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 15 $5,365,000 $357,667 $5,830 6.21%
LANCASTER, PA (FHA|USDA|VA) 19 $4,755,000 $250,263 $5,761 7.01%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $4,610,000 $461,000 $6,738 6.29%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 15 $4,495,000 $299,667 $4,014 6.86%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 9 $4,205,000 $467,222 $3,400 6.25%
Torrington, CT (FHA|USDA|VA) 24 $4,200,000 $175,000 $4,236 5.03%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 11 $4,095,000 $372,273 $3,868 6.61%
Malone, NY (FHA|USDA|VA) 29 $3,975,000 $137,069 $3,349 6.63%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 11 $3,685,000 $335,000 $5,796 6.09%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $3,370,000 $842,500 $10,650 6.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 9 $3,255,000 $361,667 $4,658 6.53%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 19 $2,865,000 $150,789 $4,868 6.79%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $2,825,000 $403,571 $6,146 6.21%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $2,705,000 $300,556 $3,632 6.22%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 6 $2,630,000 $438,333 $3,060 6.35%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 7 $2,405,000 $343,571 $5,670 6.07%
Ogdensburg-Massena, NY (FHA|USDA|VA) 16 $2,330,000 $145,625 $4,178 6.77%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4 $2,230,000 $557,500 $3,973 6.34%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 7 $2,225,000 $317,857 $6,096 6.02%
RALEIGH-CARY, NC (FHA|USDA|VA) 6 $2,120,000 $353,333 $3,979 6.56%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $2,090,000 $348,333 $5,950 6.27%
Olean, NY (FHA|USDA|VA) 12 $1,970,000 $164,167 $3,711 6.80%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,890,000 $472,500 $2,951 6.78%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $1,815,000 $363,000 $3,982 6.53%
PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $1,805,000 $361,000 $7,921 6.25%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $1,595,000 $319,000 $2,694 7.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,590,000 $397,500 $4,549 6.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 6 $1,550,000 $258,333 $4,729 6.40%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $1,485,000 $495,000 $8,473 7.13%
KNOXVILLE, TN (FHA|USDA|VA) 4 $1,410,000 $352,500 $3,971 6.06%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $1,400,000 $700,000 $575 6.06%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,290,000 $322,500 $3,373 6.28%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,255,000 $418,333 $7,684 6.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 4 $1,220,000 $305,000 $5,547 6.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $1,215,000 $405,000 $3,689 6.08%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $1,155,000 $385,000 $9,233 7.21%
Auburn, NY (FHA|USDA|VA) 6 $1,120,000 $186,667 $6,497 6.46%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $1,120,000 $280,000 $1,960 6.81%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $1,115,000 $371,667 $6,033 7.13%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $1,110,000 $555,000 $2,460 7.25%
Cortland, NY (FHA|USDA|VA) 4 $1,110,000 $277,500 $7,706 6.66%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $1,105,000 $368,333 $13,244 6.63%
OCALA, FL (FHA|USDA|VA) 5 $1,095,000 $219,000 $5,777 6.75%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 5 $1,075,000 $215,000 $3,823 6.60%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $1,040,000 $520,000 $4,912 6.19%
RICHMOND, VA (FHA|USDA|VA) 3 $1,025,000 $341,667 $4,809 6.88%
MOBILE, AL (FHA|USDA|VA) 3 $995,000 $331,667 $3,157 6.92%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $955,000 $318,333 $8,422 5.83%
Key West, FL (FHA|USDA|VA) 1 $945,000 $945,000 $12,367 5.88%
ROCHESTER, MN (FHA|USDA|VA) 2 $940,000 $470,000 $4,447 6.00%
WILMINGTON, NC (FHA|USDA|VA) 3 $935,000 $311,667 $3,443 6.67%
Batavia, NY (FHA|USDA|VA) 4 $900,000 $225,000 $7,658 6.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $895,000 $298,333 $1,859 6.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $895,000 $298,333 $7,343 6.42%
ALBUQUERQUE, NM (FHA|USDA|VA) 3 $855,000 $285,000 $3,749 6.25%
ANN ARBOR, MI (FHA|USDA|VA) 2 $850,000 $425,000 $5,356 5.75%
APPLETON, WI (FHA|USDA|VA) 3 $835,000 $278,333 $4,147 6.83%
TUCSON, AZ (FHA|USDA|VA) 3 $815,000 $271,667 $6,257 6.71%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $790,000 $395,000 $0 7.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $785,000 $261,667 $2,169 6.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $765,000 $765,000 $12,847 7.13%
GREEN BAY, WI (FHA|USDA|VA) 4 $760,000 $190,000 $4,540 7.09%
ASHEVILLE, NC (FHA|USDA|VA) 2 $740,000 $370,000 $4,789 7.50%
BOULDER, CO (FHA|USDA|VA) 1 $725,000 $725,000 $5,073 5.88%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $725,000 $725,000 $3,404 5.88%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $720,000 $360,000 $5,729 6.38%
WICHITA, KS (FHA|USDA|VA) 2 $720,000 $360,000 $2,898 6.19%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $720,000 $360,000 $2,071 6.56%
Plattsburgh, NY (FHA|USDA|VA) 4 $710,000 $177,500 $3,208 7.06%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $680,000 $340,000 $7,155 6.69%
FORT COLLINS, CO (FHA|USDA|VA) 2 $680,000 $340,000 $6,533 6.56%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $650,000 $325,000 $4,984 6.69%
FORT WAYNE, IN (FHA|USDA|VA) 2 $630,000 $315,000 $3,098 6.06%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $620,000 $310,000 $10,651 6.06%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $615,000 $615,000 $575 6.13%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $610,000 $305,000 $2,930 6.19%
ELMIRA, NY (FHA|USDA|VA) 2 $590,000 $295,000 $10,896 6.25%
Morehead City, NC (FHA|USDA|VA) 1 $575,000 $575,000 $0 7.25%
LOUISVILLE, KY (FHA|USDA|VA) 2 $570,000 $285,000 $1,547 6.31%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $555,000 $555,000 $11,174 6.25%
Durango, CO (FHA|USDA|VA) 1 $545,000 $545,000 $3,965 6.00%
SAVANNAH, GA (FHA|USDA|VA) 2 $510,000 $255,000 $3,805 7.19%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $510,000 $255,000 $5,708 7.88%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $505,000 $505,000 $5,473 6.13%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $500,000 $250,000 $4,655 6.56%
Lebanon, NH-VT (FHA|USDA|VA) 1 $495,000 $495,000 $6,593 7.13%
SPARTANBURG, SC (FHA|USDA|VA) 2 $480,000 $240,000 $4,674 6.75%
MORRISTOWN, TN (FHA|USDA|VA) 1 $465,000 $465,000 $4,071 6.50%
Barre, VT (FHA|USDA|VA) 1 $465,000 $465,000 $0 7.50%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $460,000 $230,000 $6,844 6.63%
DULUTH, MN-WI (FHA|USDA|VA) 1 $445,000 $445,000 $4,734 5.38%
EL PASO, TX (FHA|USDA|VA) 1 $435,000 $435,000 $0 5.63%
Sevierville, TN (FHA|USDA|VA) 1 $435,000 $435,000 $779 5.88%
Albert Lea, MN (FHA|USDA|VA) 2 $430,000 $215,000 $5,559 6.69%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $420,000 $210,000 $5,939 6.56%
HARRISONBURG, VA (FHA|USDA|VA) 1 $415,000 $415,000 $3,842 5.88%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $410,000 $205,000 $7,134 6.44%
Durant, OK (FHA|USDA|VA) 1 $395,000 $395,000 $4,818 7.13%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $395,000 $395,000 $13,849 5.75%
Jefferson, GA (FHA|USDA|VA) 1 $385,000 $385,000 $7,378 5.75%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $385,000 $385,000 $2,444 5.75%
MADISON, WI (FHA|USDA|VA) 1 $375,000 $375,000 $3,504 6.13%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $375,000 $375,000 $1,200 5.88%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $375,000 $375,000 $1,768 7.50%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $375,000 $375,000 $4,965 8.13%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $365,000 $365,000 $9,888 6.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $365,000 $365,000 $3,710 7.25%
El Campo, TX (FHA|USDA|VA) 1 $365,000 $365,000 $3,887 6.00%
Traverse City, MI (FHA|USDA|VA) 1 $335,000 $335,000 $0 7.63%
PITTSBURGH, PA (FHA|USDA|VA) 1 $325,000 $325,000 $6,285 7.00%
Laconia, NH (FHA|USDA|VA) 1 $325,000 $325,000 $4,391 6.50%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $315,000 $315,000 $4,727 5.75%
Calhoun, GA (FHA|USDA|VA) 1 $315,000 $315,000 $4,723 6.00%
ITHACA, NY (FHA|USDA|VA) 1 $315,000 $315,000 $0 7.63%
DOTHAN, AL (FHA|USDA|VA) 1 $305,000 $305,000 $2,665 6.63%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $305,000 $305,000 $3,990 6.25%
LEBANON, PA (FHA|USDA|VA) 1 $305,000 $305,000 $2,888 6.50%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $305,000 $305,000 $4,345 6.13%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $305,000 $305,000 $6,997 6.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $305,000 $305,000 $6,854 7.13%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $295,000 $295,000 $4,495 6.25%
AMARILLO, TX (FHA|USDA|VA) 1 $285,000 $285,000 $1,986 5.88%
COLUMBIA, SC (FHA|USDA|VA) 1 $285,000 $285,000 $8,340 7.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $285,000 $285,000 $4,280 5.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $270,000 $135,000 $3,900 6.75%
DOVER, DE (FHA|USDA|VA) 1 $265,000 $265,000 $5,919 7.00%
Bonham, TX (FHA|USDA|VA) 1 $255,000 $255,000 $5,855 6.75%
GREENVILLE, NC (FHA|USDA|VA) 2 $250,000 $125,000 $0 5.50%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $245,000 $245,000 $901 7.00%
FLINT, MI (FHA|USDA|VA) 1 $245,000 $245,000 $5,858 7.13%
Holland, MI (FHA|USDA|VA) 1 $245,000 $245,000 $4,328 6.50%
ROANOKE, VA (FHA|USDA|VA) 1 $245,000 $245,000 $3,595 6.25%
Keene, NH (FHA|USDA|VA) 1 $245,000 $245,000 $8,779 6.75%
Bluefield, WV-VA (FHA|USDA|VA) 1 $235,000 $235,000 $4,039 5.88%
Kingsville, TX (FHA|USDA|VA) 1 $225,000 $225,000 $10,193 6.75%
BEND, OR (FHA|USDA|VA) 1 $225,000 $225,000 $653 5.50%
YUBA CITY, CA (FHA|USDA|VA) 1 $225,000 $225,000 $0 6.75%
GETTYSBURG, PA (FHA|USDA|VA) 1 $215,000 $215,000 $7,653 6.25%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $205,000 $205,000 $5,101 5.63%
Seneca, SC (FHA|USDA|VA) 1 $205,000 $205,000 $1,583 5.75%
GREELEY, CO (FHA|USDA|VA) 1 $195,000 $195,000 $2,175 5.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.50%
LYNCHBURG, VA (FHA|USDA|VA) 1 $185,000 $185,000 $5,218 7.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $185,000 $185,000 $7,984 7.00%
Alpena, MI (FHA|USDA|VA) 1 $185,000 $185,000 $6,227 6.75%
PITTSFIELD, MA (FHA|USDA|VA) 1 $185,000 $185,000 $3,754 7.50%
MANKATO, MN (FHA|USDA|VA) 1 $175,000 $175,000 $5,859 6.13%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.38%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $155,000 $155,000 $4,986 7.38%
Corning, NY (FHA|USDA|VA) 1 $145,000 $145,000 $3,179 6.63%
Shawano, WI (FHA|USDA|VA) 1 $145,000 $145,000 $3,627 7.13%
Seneca Falls, NY (FHA|USDA|VA) 1 $135,000 $135,000 $3,029 6.75%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,182 5.63%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $125,000 $125,000 $1,163 7.50%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.00%
Meadville, PA (FHA|USDA|VA) 1 $115,000 $115,000 $4,275 6.13%
Arcadia, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.13%
Homestead Funding Corp.'s top markets include Albany, Poughkeepsie, Binghamton, Glens Falls, and New York among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,601 $928,295,000 $257,788 $4,601 6.35%
    FHA 920 $212,650,000 $231,141 $7,013 6.55%
    VA 237 $71,125,000 $300,105 $7,435 6.37%
    USDA 36 $5,810,000 $161,389 $3,106 6.70%

    For 2023, Homestead Funding Corp.'s most frequently originated type of loan was Conventional, with 3,601 originations. Their 2nd most popular type was FHA, with 920 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,599 $1,168,115,000 $253,993 $5,183 6.39%
    Cash Out Refi 92 $22,940,000 $249,348 $6,441 6.43%
    Refi 76 $19,720,000 $259,474 $5,940 6.39%
    Home Improvement 14 $3,800,000 $271,429 $6,532 6.67%
    Other 13 $3,305,000 $254,231 $5,040 6.30%

    For 2023, Homestead Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 4,599 originations. The 2nd most popular reason was Cash Out Refi, with 92 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,682 $1,191,690,000 $254,526 $5,227 6.40%
    15 Year 60 $16,040,000 $267,333 $4,869 5.72%
    Other 23 $495,000 $21,522 $171 2.17%
    20 Year 16 $5,250,000 $328,125 $4,532 6.41%
    30+ year 11 $4,375,000 $397,727 $18,232 7.24%
    10 Year 2 $30,000 $15,000 $0 9.63%

    For 2023, Homestead Funding Corp.'s most frequently cited loan duration was 30 Year, with 4,682 originations. The 2nd most popular length was 15 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,843 $411,805,000 $223,443
    $1k-2k 1,120 $264,630,000 $236,277
    $2k-3k 667 $181,925,000 $272,751
    $3k-4k 367 $114,855,000 $312,956
    $5k+ 311 $123,035,000 $395,611
    $4k-5k 198 $64,550,000 $326,010

    Homestead Funding Corp.'s average total fees were $5,227, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,843 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 2,495 $636,065,000 $254,936
    5-6% 1,028 $281,650,000 $273,979
    7-8% 1,006 $272,140,000 $270,517
    <2.5% 146 $1,840,000 $12,603
    Over 8% 55 $14,795,000 $269,000
    4-5% 27 $8,725,000 $323,148
    3-4% 6 $2,340,000 $390,000

    During 2023, Homestead Funding Corp.'s average interest rate for loans was 6.40%, while their most frequently originated rate bucket for loans was 6-7%, with 2,495 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,257 $636,205,000 $281,881 $5,838 6.58%
    $100k-200k 1,500 $232,550,000 $155,033 $3,989 6.56%
    $400k-600k 517 $245,835,000 $475,503 $7,549 6.51%
    $100,000 or less 401 $20,275,000 $50,561 $1,741 4.32%
    $600k-1MM 115 $77,295,000 $672,130 $8,179 6.48%
    $1MM+ 4 $5,720,000 $1,430,000 $18,091 6.91%

    2023 saw Homestead Funding Corp. place emphasis on $200k-400k loans with 2,257 originations, totaling $636,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,162 $325,970,000 $280,525 $5,894 6.54%
    $50k-75k 1,109 $191,105,000 $172,322 $4,264 6.16%
    $75k-100k 1,038 $224,940,000 $216,705 $4,855 6.29%
    $150k-250k 807 $294,125,000 $364,467 $6,443 6.55%
    $50k or less 350 $42,720,000 $122,057 $3,475 6.30%
    $250k+ 314 $135,550,000 $431,688 $6,438 6.58%

    Homestead Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,162 originations. The second most popular income band? $50k-75k, with 1,109 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 874 $213,140,000 $243,867 $4,799 6.32%
    20-30% 690 $169,360,000 $245,449 $4,668 6.27%
    44% 268 $70,530,000 $263,172 $5,455 6.33%
    50-60% 258 $67,660,000 $262,248 $7,481 6.59%
    41% 237 $60,405,000 $254,873 $4,960 6.34%
    43% 233 $62,905,000 $269,979 $5,474 6.47%
    42% 225 $60,425,000 $268,556 $5,408 6.30%
    49% 219 $60,825,000 $277,740 $6,036 6.61%
    40% 202 $51,440,000 $254,653 $4,802 6.25%
    39% 195 $49,945,000 $256,128 $5,318 6.36%
    38% 186 $50,180,000 $269,785 $5,744 6.44%
    <20% 183 $48,585,000 $265,492 $4,592 6.29%
    48% 177 $44,805,000 $253,136 $5,837 6.61%
    37% 176 $42,760,000 $242,955 $4,952 6.28%
    36% 170 $42,380,000 $249,294 $5,176 6.33%
    45% 161 $42,035,000 $261,087 $5,253 6.72%
    47% 154 $43,310,000 $281,234 $5,567 6.56%
    46% 145 $34,745,000 $239,621 $5,377 6.52%

    Homestead Funding Corp. lent most frequently to those with DTI ratios of 30-36%, with 874 originations. The next most common DTI ratio? 20-30%, with 690 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,515 $880,385,000 $250,465 $5,098 6.38%
    Not provided 705 $188,905,000 $267,950 $5,749 6.52%
    Asian 246 $71,290,000 $289,797 $5,194 6.59%
    Black 272 $61,260,000 $225,221 $5,450 5.92%
    Asian Indian 15 $4,945,000 $329,667 $6,606 6.59%
    American Indian 22 $4,890,000 $222,273 $5,733 6.04%
    Other Asian 9 $3,735,000 $415,000 $4,309 6.76%
    Vietnamese 2 $790,000 $395,000 $4,850 6.56%
    Other Pacific Islander 3 $495,000 $165,000 $5,268 5.88%
    Korean 2 $480,000 $240,000 $4,589 6.94%
    Native Hawaiian or Islander 2 $430,000 $215,000 $5,332 6.56%
    Filipino 1 $275,000 $275,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    96.85%

    Homestead Funding Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.89%

    Homestead Funding Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,794 $1,217,880,000 $254,043

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,794 $1,217,880,000 $254,043

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 101 $18,895,000 $187,079 $4,270 6.32%
    40-60% 274 $66,230,000 $241,715 $5,040 6.41%
    60-80% 1,037 $273,775,000 $264,007 $5,338 6.67%
    80-100% 3,125 $832,605,000 $266,434 $5,373 6.54%
    Over 100% 73 $22,555,000 $308,973 $10,432 6.46%
    Under 20% 184 $3,820,000 $20,761 $671 1.31%