Homeowners First Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300VWVLYULYLIAM42
Tax ID: 84-3226150
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
265Origination Dollar Volume (All Markets)
$162,665,000Relative 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 applications91.65%
Homeowners First Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination34.19%
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% |
