Homeowners First Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300VWVLYULYLIAM42

Tax ID: 84-3226150

1 stars - out of 5 stars, based on 8 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Homeowners First Mortgage is a smaller mortgage company specializing in loans. Homeowners First Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Sacramento, and San Luis Obispo among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Homeowners First 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. Homeowners First 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 about average 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 6.82% 3/27/23
    30 Year Conventional Refi 7.06% 3/27/23
    30 Year Cash-out Refi 7.02% 3/27/23
    30 Year FHA Purchase 7.55% 3/27/23
    30 Year FHA Refi 7.38% 3/27/23
    30 Year VA Purchase 6.38% 3/27/23
    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.


    Originations

    71

    Origination Dollar Volume (All Markets)

    $42,575,000

    Relative Rate

    Homeowners First Mortgage's average 30 year fixed mortgage rate was 4.93%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.17%.

    Relative Fees (Closing Costs)

    Homeowners First Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $10,368.

    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 $4,750.

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 39 $26,535,000 $680,385 $11,157 4.82%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 24 $11,340,000 $472,500 $10,314 4.91%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $3,245,000 $649,000 $8,137 5.48%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $840,000 $420,000 $3,731 4.43%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $615,000 $615,000 $11,366 5.25%
    Homeowners First Mortgage's top markets include Los Angeles, Riverside, San Diego, Sacramento, and San Luis Obispo among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    Credence Funding Corporation
    Similarity Rank: 316
    Chaffey Federal Credit Union
    Similarity Rank: 644
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 660
    MYPOINT Credit Union
    Similarity Rank: 770
    Christian Community Credit Union
    Similarity Rank: 1062
    Los Angeles Federal Credit Union
    Similarity Rank: 1120
    First City Credit Union
    Similarity Rank: 1300
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Water and Power Community Credit Union
    Similarity Rank: 1484
    THE FIRST FINANCIAL Federal Credit Union
    Similarity Rank: 1584

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 60 $36,730,000 $612,167 $9,073 4.85%
    FHA 7 $4,135,000 $590,714 $22,468 5.14%
    VA 4 $1,710,000 $427,500 $10,123 5.12%

    For 2022, Homeowners First Mortgage's most frequently originated type of loan was Conventional, with 60 originations. Their 2nd most popular type was FHA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 57 $33,975,000 $596,053 $10,279 5.02%
    Cash Out Refi 8 $4,850,000 $606,250 $8,797 4.39%
    Refi 6 $3,750,000 $625,000 $14,315 4.35%

    For 2022, Homeowners First Mortgage's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 70 $42,210,000 $603,000 $10,368 4.93%
    20 Year 1 $365,000 $365,000 $16,385 2.50%

    For 2022, Homeowners First Mortgage's most frequently cited loan duration was 30 Year, with 70 originations. The 2nd most popular length was 20 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 28 $17,860,000 $637,857
    $5k+ 27 $16,445,000 $609,074
    $3k-4k 6 $3,270,000 $545,000
    $4k-5k 6 $3,070,000 $511,667
    $<1k 2 $800,000 $400,000
    $2k-3k 2 $1,130,000 $565,000

    Homeowners First Mortgage's average total fees were $10,368, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 28 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 21 $14,645,000 $697,381
    4-5% 20 $11,810,000 $590,500
    3-4% 16 $8,660,000 $541,250
    6-7% 5 $2,755,000 $551,000
    2.5-3% 4 $2,410,000 $602,500
    7-8% 3 $1,665,000 $555,000
    Over 8% 1 $265,000 $265,000
    <2.5% 1 $365,000 $365,000

    During 2022, Homeowners First Mortgage's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 31 $15,405,000 $496,935 $10,841 4.86%
    $600k-1MM 22 $16,890,000 $767,727 $12,470 4.70%
    $200k-400k 13 $4,225,000 $325,000 $6,988 5.07%
    $1MM+ 5 $6,055,000 $1,211,000 $8,178 5.48%

    2022 saw Homeowners First Mortgage place emphasis on $400k-600k loans with 31 originations, totaling $15,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 70 $42,170,000 $602,429 $10,554 4.90%

    Homeowners First Mortgage lent most frequently to those with incomes in the $50k or less range, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 14 $8,510,000 $607,857 $10,548 4.51%
    44% 6 $3,340,000 $556,667 $15,619 5.14%
    38% 6 $4,150,000 $691,667 $8,735 4.83%
    36% 6 $2,590,000 $431,667 $9,293 5.48%
    45% 5 $3,035,000 $607,000 $9,851 5.15%
    37% 4 $1,960,000 $490,000 $7,787 4.81%
    39% 3 $2,135,000 $711,667 $7,467 6.25%
    49% 3 $2,715,000 $905,000 $5,972 5.50%
    50-60% 3 $1,665,000 $555,000 $18,462 5.96%
    47% 3 $1,675,000 $558,333 $14,590 5.41%
    46% 3 $1,505,000 $501,667 $11,482 4.12%
    48% 3 $1,885,000 $628,333 $15,247 3.41%
    42% 2 $1,220,000 $610,000 $7,115 3.75%
    20-30% 2 $680,000 $340,000 $7,622 5.81%
    40% 2 $790,000 $395,000 $1,876 4.31%
    41% 2 $2,060,000 $1,030,000 $9,457 5.63%
    <20% 2 $1,310,000 $655,000 $11,499 3.94%
    43% 2 $1,350,000 $675,000 $8,696 3.88%

    Homeowners First Mortgage lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 44%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $22,915,000 $619,324 $10,344 5.22%
    Not provided 22 $12,140,000 $551,818 $9,924 4.45%
    Asian 9 $5,335,000 $592,778 $12,006 4.64%
    American Indian 2 $1,530,000 $765,000 $9,785 4.44%
    Black 1 $655,000 $655,000 $13,485 5.75%

    Approval Rates

    Total approvals of all applications
    93.94%

    Homeowners First Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.46%

    Homeowners First Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 71 $42,575,000 $599,648

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    71 $42,575,000 $599,648

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $2,405,000 $481,000 $8,793 4.05%
    40-60% 3 $1,825,000 $608,333 $10,832 4.92%
    60-80% 31 $19,015,000 $613,387 $10,461 5.02%
    80-100% 30 $18,550,000 $618,333 $10,728 4.86%
    Over 100% 1 $465,000 $465,000 $11,665 4.99%
    Under 20% 1 $315,000 $315,000 $7,878 5.99%