Sanctuary Home Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300U0J1T0K63EKR14

Tax ID: 84-4057020

4.1 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sanctuary Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. Sanctuary Home Mortgage 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 include Atlanta, Gainesville, Jefferson, and Cornelia among others. Sanctuary Home Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sanctuary Home Mortgage is typically an average fee lendor.


Originations

262

Origination Dollar Volume (All Markets)

$103,330,000

Relative Rate

Sanctuary Home Mortgage 's average 30 year fixed rate mortgage of loans were 3.17%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.02%.

Relative Fees

Sanctuary Home Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,622.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 258 $101,850,000 $394,767 $5,482 3.10%
GAINESVILLE, GA (FHA|USDA|VA) 1 $405,000 $405,000 $3,860 2.25%
Jefferson, GA (FHA|USDA|VA) 1 $395,000 $395,000 $6,016 3.25%
Outside of Metro Areas 1 $395,000 $395,000 $7,414 2.99%
Cornelia, GA (FHA|USDA|VA) 1 $285,000 $285,000 $3,365 2.63%

Sanctuary Home Mortgage 's top markets include Atlanta, Gainesville, Jefferson, and Cornelia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 241 $96,215,000 $399,232 $5,101 3.10%
FHA 16 $4,780,000 $298,750 $10,205 3.20%
VA 5 $2,335,000 $467,000 $8,471 2.80%

For the 2021 period, Sanctuary Home Mortgage 's most frequently originated loan type of loans were Conventional, with 241 originations. Their 2nd most popular type is FHA, with 16 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 210 $85,280,000 $406,095 $5,746 3.14%
Refi 30 $10,830,000 $361,000 $3,942 2.86%
Cash Out Refi 22 $7,220,000 $328,182 $5,005 3.08%

For the 2021, Sanctuary Home Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 210 originations. The 2nd most popular reason of loans were Refi, with 30 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 231 $93,625,000 $405,303 $5,622 3.17%
15 Year 25 $7,465,000 $298,600 $4,371 2.55%
20 Year 4 $1,570,000 $392,500 $4,120 2.87%
10 Year 2 $670,000 $335,000 $5,268 2.44%

For the 2021, Sanctuary Home Mortgage 's most frequently cited loan length of loans were 30 Year, with 231 originations. The 2nd most popular length of loans were 15 Year, with 25 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 87 $31,055,000 $356,954
$2k-3k 53 $16,825,000 $317,453
$1k-2k 52 $23,200,000 $446,154
$3k-4k 50 $19,350,000 $387,000
$5k+ 19 $12,765,000 $671,842

$5,622 of loans were Sanctuary Home Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 87 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 138 $53,370,000 $386,739
2.5-3% 106 $43,700,000 $412,264
<2.5% 14 $4,730,000 $337,857
4-5% 4 $1,530,000 $382,500

During 2021, Sanctuary Home Mortgage 's average interest rate of loans were 3.17%, while their most frequently originated rate bucket of loans were 3-4%, with 138 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 124 $37,230,000 $300,242 $5,216 3.05%
$400k-600k 77 $37,525,000 $487,338 $5,355 3.11%
$100k-200k 33 $5,375,000 $162,879 $4,090 3.24%
$600k-1MM 21 $15,395,000 $733,095 $6,934 3.14%
$1MM+ 6 $7,710,000 $1,285,000 $14,880 2.98%
$100,000 or less 1 $95,000 $95,000 $6,096 3.25%

2021 saw Sanctuary Home Mortgage place emphasis on $200k-400k loans with 124 originations, totaling $37,230,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 68 $24,580,000 $361,471 $4,763 3.13%
$150k-250k 60 $28,260,000 $471,000 $5,354 3.10%
$50k-75k 42 $11,080,000 $263,810 $5,364 3.11%
$250k+ 40 $25,010,000 $625,250 $7,594 3.15%
$75k-100k 37 $11,665,000 $315,270 $5,001 2.99%
$50k or less 15 $2,735,000 $182,333 $5,056 3.03%

Sanctuary Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $150k-250k, with 60 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 68 $28,560,000 $420,000 $4,956 3.08%
30-36% 36 $18,590,000 $516,389 $6,373 3.08%
<20% 27 $11,095,000 $410,926 $5,200 3.03%
46% 14 $4,190,000 $299,286 $5,739 3.17%
40% 13 $5,115,000 $393,462 $4,495 3.09%
38% 11 $4,045,000 $367,727 $5,946 3.28%
49% 10 $3,340,000 $334,000 $5,921 2.92%
42% 9 $4,275,000 $475,000 $4,311 3.29%
39% 9 $2,985,000 $331,667 $4,639 3.03%
41% 9 $3,505,000 $389,444 $5,143 3.15%
44% 9 $2,735,000 $303,889 $4,961 3.10%
45% 9 $2,675,000 $297,222 $4,517 3.15%
50-60% 8 $2,190,000 $273,750 $10,030 3.06%
37% 8 $3,060,000 $382,500 $4,993 3.09%
36% 8 $2,980,000 $372,500 $9,082 3.06%
48% 6 $1,790,000 $298,333 $4,984 2.98%
43% 6 $1,300,000 $216,667 $3,521 3.38%
47% 2 $900,000 $450,000 $4,385 3.19%

Sanctuary Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 36 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 207 $83,675,000 $404,227 $5,202 3.09%
Not provided 19 $8,175,000 $430,263 $6,609 3.06%
Black 20 $6,130,000 $306,500 $6,726 3.15%
Asian 16 $5,350,000 $334,375 $6,137 3.18%

Approval Rates

Total approvals of all applications
98.00%

Sanctuary Home Mortgage 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
71.64%

Sanctuary Home Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 262 $103,330,000 $394,389

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
262 $103,330,000 $394,389

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 8 $2,530,000 $316,250 $5,204 2.84%
40-60% 29 $11,295,000 $389,483 $4,437 2.96%
60-80% 91 $38,915,000 $427,637 $5,608 3.11%
80-100% 133 $50,235,000 $377,707 $5,591 3.15%
Over 100% 1 $355,000 $355,000 $10,761 2.63%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SUNSTREET MORTGAGE LLC VA mortgage Closing on a mortgage 1 100.0%