Sanctuary Home Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300U0J1T0K63EKR14

Tax ID: 84-4057020

4.5 stars - Updated: 10/7/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & 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 by origination volume include: Atlanta, Athens, and Jefferson among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sanctuary Home Mortgage 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. Sanctuary Home Mortgage is typically a high 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 6.58% 10/7/24
30 Year Conventional Refi 6.52% 10/7/24
30 Year Cash-out Refi 6.68% 10/7/24
30 Year FHA Purchase 7.33% 10/7/24
30 Year VA Purchase 6.51% 10/7/24
30 Year USDA Purchase 6.27% 10/7/24
15 Year Conventional Purchase 5.79% 10/7/24
15 Year Conventional Refi 6.33% 10/7/24
15 Year Cash-out Refi 6.33% 10/7/24
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.

Sanctuary Home Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Sanctuary Home Mortgage. 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

174

Origination Dollar Volume (All Markets)

$72,190,000

Relative Rate

Sanctuary Home Mortgage's average 30 year fixed mortgage rate was 6.75%.

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

This yields a difference of 0.27%.

Relative Fees (Closing Costs)

Sanctuary Home Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $8,802.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 165 $69,215,000 $419,485 $8,627 6.70%
Outside of Metro Areas 6 $2,340,000 $390,000 $12,559 7.56%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $400,000 $200,000 $6,231 6.43%
Jefferson, GA (FHA|USDA|VA) 1 $235,000 $235,000 $10,905 6.75%
Sanctuary Home Mortgage's top markets include Atlanta, Athens, and Jefferson among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SANCTUARY HOME MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    LGE COMMUNITY
    Similarity Rank: 546
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 900
    East West Bank
    Similarity Rank: 925
    SANCTUARY HOME MORTGAGE LLC
    Similarity Rank: 1076
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1320
    PEACH STATE FEDERAL CREDIT UNION
    Similarity Rank: 1656
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 1700
    COCA-COLA
    Similarity Rank: 2847
    South Pacific Financial Corporation
    Similarity Rank: 2904

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 159 $66,735,000 $419,717 $8,130 6.73%
    FHA 10 $3,410,000 $341,000 $14,834 6.66%
    VA 5 $2,045,000 $409,000 $11,884 6.75%

    For 2023, Sanctuary Home Mortgage's most frequently originated type of loan was Conventional, with 159 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 170 $71,610,000 $421,235 $8,664 6.73%
    Cash Out Refi 4 $580,000 $145,000 $8,440 6.50%

    For 2023, Sanctuary Home Mortgage's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 168 $70,670,000 $420,655 $8,802 6.75%
    15 Year 6 $1,520,000 $253,333 $4,982 6.12%

    For 2023, Sanctuary Home Mortgage's most frequently cited loan duration was 30 Year, with 168 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 71 $36,565,000 $515,000
    $4k-5k 34 $11,310,000 $332,647
    $1k-2k 25 $11,785,000 $471,400
    $3k-4k 18 $4,360,000 $242,222
    $2k-3k 14 $5,180,000 $370,000

    Sanctuary Home Mortgage's average total fees were $8,802, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 71 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 98 $40,170,000 $409,898
    7-8% 44 $19,210,000 $436,591
    5-6% 26 $10,680,000 $410,769
    Over 8% 5 $1,815,000 $363,000
    4-5% 1 $315,000 $315,000

    During 2023, Sanctuary Home Mortgage's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 6-7%, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 79 $24,205,000 $306,392 $7,747 6.59%
    $400k-600k 55 $26,895,000 $489,000 $8,811 6.77%
    $600k-1MM 24 $16,690,000 $695,417 $11,757 6.97%
    $100k-200k 14 $2,170,000 $155,000 $6,100 6.97%
    $1MM+ 2 $2,230,000 $1,115,000 $13,125 6.56%

    2023 saw Sanctuary Home Mortgage place emphasis on $200k-400k loans with 79 originations, totaling $24,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 45 $19,715,000 $438,111 $9,141 6.75%
    $100k-150k 41 $15,525,000 $378,659 $8,000 6.61%
    $250k+ 38 $23,110,000 $608,158 $10,270 7.04%
    $75k-100k 25 $7,585,000 $303,400 $7,719 6.60%
    $50k-75k 20 $4,970,000 $248,500 $7,583 6.25%
    $50k or less 2 $420,000 $210,000 $5,889 6.56%

    Sanctuary Home Mortgage lent most frequently to those with incomes in the $150k-250k range, with 45 originations. The second most popular income band? $100k-150k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $14,720,000 $432,941 $8,210 6.74%
    30-36% 31 $12,995,000 $419,194 $8,626 6.63%
    <20% 9 $3,715,000 $412,778 $8,479 6.98%
    42% 9 $3,475,000 $386,111 $8,187 6.48%
    43% 9 $3,425,000 $380,556 $6,861 6.92%
    36% 8 $3,440,000 $430,000 $12,005 6.91%
    45% 8 $3,790,000 $473,750 $9,049 6.65%
    44% 7 $2,585,000 $369,286 $7,208 6.88%
    46% 7 $2,745,000 $392,143 $11,867 6.41%
    48% 7 $2,995,000 $427,857 $7,820 6.41%
    37% 6 $2,630,000 $438,333 $6,418 6.75%
    39% 6 $2,040,000 $340,000 $6,041 7.23%
    40% 6 $2,640,000 $440,000 $7,745 6.29%
    50-60% 6 $2,150,000 $358,333 $12,924 6.58%
    49% 5 $2,235,000 $447,000 $9,266 6.42%
    41% 5 $2,395,000 $479,000 $9,235 6.75%
    47% 4 $1,610,000 $402,500 $7,667 6.47%
    38% 4 $1,740,000 $435,000 $9,046 6.84%

    Sanctuary Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 133 $56,185,000 $422,444 $8,565 6.61%
    Not provided 17 $8,405,000 $494,412 $9,714 7.23%
    Black 12 $3,910,000 $325,833 $9,632 7.02%
    Asian 3 $1,205,000 $401,667 $9,180 7.08%
    Other Asian 3 $625,000 $208,333 $5,013 6.66%
    Asian Indian 2 $600,000 $300,000 $4,885 6.44%
    Japanese 1 $515,000 $515,000 $10,290 5.99%
    Not applicable 2 $490,000 $245,000 $0 8.69%
    American Indian 1 $255,000 $255,000 $7,617 6.13%

    Approval Rates

    Total approvals of all applications
    98.11%

    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
    65.52%

    Sanctuary Home Mortgage 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 174 $72,190,000 $414,885

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    174 $72,190,000 $414,885

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $1,285,000 $257,000 $5,674 6.70%
    40-60% 18 $4,740,000 $263,333 $6,141 6.68%
    60-80% 63 $29,155,000 $462,778 $8,962 6.88%
    80-100% 86 $36,560,000 $425,116 $9,124 6.64%
    Over 100% 1 $345,000 $345,000 $12,378 6.75%
    Under 20% 1 $105,000 $105,000 $4,252 5.50%