Homeowners First Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300VWVLYULYLIAM42

Tax ID: 84-3226150

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

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Homeowners First Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Homeowners First 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 Los Angeles, Riverside, San Diego, San Francisco, and Sacramento among others. Homeowners First 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. Homeowners First Mortgage is typically a high fee lendor.


Originations

265

Origination Dollar Volume (All Markets)

$162,665,000

Relative Rate

Homeowners First Mortgage 's average 30 year fixed rate mortgage of loans were 3.2%.

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

This yields a difference of 0.05%.

Relative Fees

Homeowners First Mortgage 's average total fees for a 30 year fixed rate mortgage are $9,933.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 190 $125,890,000 $662,579 $10,614 3.14%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 49 $20,295,000 $414,184 $7,174 3.35%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 14 $9,110,000 $650,714 $10,277 3.13%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $2,350,000 $1,175,000 $9,506 2.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $2,195,000 $439,000 $3,771 3.57%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $1,820,000 $455,000 $11,533 2.72%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $6,165 2.88%

Homeowners First Mortgage 's top markets include Los Angeles, Riverside, San Diego, San Francisco, and Sacramento among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 245 $149,895,000 $611,816 $9,568 3.19%
VA 14 $9,450,000 $675,000 $10,884 2.93%
FHA 6 $3,320,000 $553,333 $17,614 3.06%

For the 2021 period, Homeowners First Mortgage 's most frequently originated loan type of loans were Conventional, with 245 originations. Their 2nd most popular type is VA, with 14 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 127 $85,105,000 $670,118 $10,257 3.24%
Refi 92 $53,060,000 $576,739 $8,991 3.01%
Cash Out Refi 46 $24,500,000 $532,609 $10,270 3.31%

For the 2021, Homeowners First Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 127 originations. The 2nd most popular reason of loans were Refi, with 92 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 254 $157,990,000 $622,008 $9,933 3.20%
15 Year 6 $2,180,000 $363,333 $6,048 2.50%
20 Year 5 $2,495,000 $499,000 $8,606 2.72%

For the 2021, Homeowners First Mortgage 's most frequently cited loan length of loans were 30 Year, with 254 originations. The 2nd most popular length of loans were 15 Year, with 6 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 110 $62,880,000 $571,636
$5k+ 86 $62,480,000 $726,512
$3k-4k 39 $22,815,000 $585,000
$2k-3k 29 $13,855,000 $477,759
$<1k 1 $635,000 $635,000

$9,933 of loans were Homeowners First Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 110 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 126 $67,660,000 $536,984
2.5-3% 105 $69,795,000 $664,714
<2.5% 19 $14,235,000 $749,211
4-5% 12 $6,050,000 $504,167
5-6% 3 $4,925,000 $1,641,667

During 2021, Homeowners First Mortgage 's average interest rate of loans were 3.20%, while their most frequently originated rate bucket of loans were 3-4%, with 126 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 93 $46,315,000 $498,011 $8,030 3.14%
$600k-1MM 88 $67,010,000 $761,477 $12,487 3.09%
$200k-400k 55 $16,585,000 $301,545 $5,212 3.24%
$1MM+ 22 $31,520,000 $1,432,727 $20,195 3.32%
$100k-200k 7 $1,235,000 $176,429 $3,657 3.59%

2021 saw Homeowners First Mortgage place emphasis on $400k-600k loans with 93 originations, totaling $46,315,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 72 $47,140,000 $654,722 $11,632 3.08%
$100k-150k 67 $36,595,000 $546,194 $8,372 3.17%
$250k+ 51 $48,255,000 $946,176 $13,407 3.27%
$75k-100k 41 $17,015,000 $415,000 $6,373 3.12%
$50k-75k 25 $8,065,000 $322,600 $6,194 3.32%
$50k or less 1 $305,000 $305,000 $3,135 3.25%

Homeowners First Mortgage lent most frequently to those with incomes in the $150k-250k range, with 72 originations. The second most popular income band? $100k-150k, with 67 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 46 $26,440,000 $574,783 $8,537 3.14%
30-36% 41 $25,585,000 $624,024 $9,560 3.13%
49% 21 $11,885,000 $565,952 $8,596 3.08%
42% 21 $12,645,000 $602,143 $9,409 3.34%
41% 19 $13,105,000 $689,737 $14,825 3.05%
<20% 13 $11,075,000 $851,923 $12,098 3.61%
43% 13 $6,735,000 $518,077 $7,345 3.26%
44% 12 $5,940,000 $495,000 $6,931 3.00%
46% 11 $7,635,000 $694,091 $6,998 3.40%
47% 11 $6,245,000 $567,727 $10,998 2.90%
38% 10 $4,690,000 $469,000 $8,305 3.18%
39% 10 $7,460,000 $746,000 $9,347 3.10%
50-60% 9 $5,185,000 $576,111 $13,828 3.06%
40% 7 $5,965,000 $852,143 $19,320 3.39%
37% 6 $3,170,000 $528,333 $9,738 3.10%
45% 5 $2,205,000 $441,000 $6,519 3.35%
48% 3 $1,875,000 $625,000 $10,019 3.25%
36% 3 $2,265,000 $755,000 $9,642 3.46%

Homeowners First Mortgage lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 41 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 177 $103,665,000 $585,678 $9,149 3.19%
Not provided 63 $40,425,000 $641,667 $10,659 3.16%
Asian 16 $11,780,000 $736,250 $14,320 2.94%
Black 6 $5,170,000 $861,667 $11,163 3.48%
American Indian 3 $1,625,000 $541,667 $5,048 3.00%

Approval Rates

Total approvals of all applications
91.65%

Homeowners First Mortgage has an average approval rate.

Pick Rate

Approvals leading to origination
34.19%

Homeowners First 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 265 $162,665,000 $613,830

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
265 $162,665,000 $613,830

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 22 $7,690,000 $349,545 $6,105 3.10%
40-60% 59 $32,065,000 $543,475 $9,908 3.03%
60-80% 87 $57,855,000 $665,000 $11,197 3.20%
80-100% 91 $61,645,000 $677,418 $9,053 3.28%
Over 100% 3 $2,035,000 $678,333 $16,326 2.87%
Under 20% 3 $1,375,000 $458,333 $12,145 2.63%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Home American Mortgage Corp VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
Home American Mortgage Corp Conventional home mortgage Closing on a mortgage 3 42.9%
Home American Mortgage Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
Home American Mortgage Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
Home American Mortgage Corp VA mortgage Closing on a mortgage 1 14.3%