Homeowners First Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300VWVLYULYLIAM42
Tax ID: 84-3226150
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Mortgage Data
Review & Overview
Homeowners First Mortgage is a smaller mortgage company specializing in Home Purchase loans. Homeowners First Mortgage has a high proportion of conventional loans. Their top two markets are Los Angeles and Riverside .Homeowners First Mortgage has an above average approval rate when compared to the average across all 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 11/17/24 |
| 30 Year Conventional Refi | 7.06% | 11/17/24 |
| 30 Year Cash-out Refi | 7.02% | 11/17/24 |
| 30 Year FHA Purchase | 7.55% | 11/17/24 |
| 30 Year FHA Refi | 7.38% | 11/17/24 |
| 30 Year VA Purchase | 6.38% | 11/17/24 |
| 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. | ||
Homeowners First Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
7Origination Dollar Volume (All Markets)
$4,415,000Relative Rate
Homeowners First Mortgage's average 30 year fixed mortgage rate was
6.13%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.35%.
Relative Fees (Closing Costs)
Homeowners First Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $12,854.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5 | $3,435,000 | $687,000 | $15,157 | 6.24% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $8,248 | 5.87% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 6 | $3,920,000 | $653,333 | $13,275 | 6.20% |
| VA | 1 | $495,000 | $495,000 | $10,752 | 5.75% |
For 2023, Homeowners First Mortgage's most frequently originated type of loan was Conventional, with 6 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 7 | $4,415,000 | $630,714 | $12,854 | 6.13% |
For 2023, Homeowners First Mortgage's most frequently cited loan purpose was Home Purchase, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 7 | $4,415,000 | $630,714 | $12,854 | 6.13% |
For 2023, Homeowners First Mortgage's most frequently cited loan duration was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 3 | $2,215,000 | $738,333 |
| $5k+ | 2 | $1,410,000 | $705,000 |
| $1k-2k | 1 | $485,000 | $485,000 |
Homeowners First Mortgage's average total fees were $12,854, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 3 | $1,545,000 | $515,000 |
| 6-7% | 2 | $1,650,000 | $825,000 |
| 4-5% | 1 | $915,000 | $915,000 |
| 7-8% | 1 | $305,000 | $305,000 |
During 2023, Homeowners First Mortgage's average interest rate for loans was 6.13%, while their most frequently originated rate bucket for loans was 5-6%, with 3 originations.
Loan Sizing
2023 saw Homeowners First Mortgage place emphasis on $400k-600k loans with 3 originations, totaling $1,545,000 in origination value.
Applicant Income
Homeowners First Mortgage lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
Homeowners First Mortgage lent most frequently to those with DTI ratios of 30-36%, with 1 originations. The next most common DTI ratio? 37%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.00%
Homeowners First Mortgage has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 7 | $4,415,000 | $630,714 |