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 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 by origination volume include: Los Angeles, Riverside, San Diego, San Francisco, and Sacramento among others. We have data for 7 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 11/21/24 |
| 30 Year Conventional Refi | 7.06% | 11/21/24 |
| 30 Year Cash-out Refi | 7.02% | 11/21/24 |
| 30 Year FHA Purchase | 7.55% | 11/21/24 |
| 30 Year FHA Refi | 7.38% | 11/21/24 |
| 30 Year VA Purchase | 6.38% | 11/21/24 |
| 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
265Origination Dollar Volume (All Markets)
$162,665,000Top 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) | 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% |
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 | 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 2021, Homeowners First Mortgage's most frequently originated type of loan was Conventional, with 245 originations. Their 2nd most popular type was VA, with 14 originations.
Loan Reason
For 2021, Homeowners First Mortgage's most frequently cited loan purpose was Home Purchase, with 127 originations. The 2nd most popular reason was Refi, with 92 originations.
Loan Duration/Length
For 2021, Homeowners First Mortgage's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
Homeowners First Mortgage's average total fees were $9,933, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.20%, while their most frequently originated rate bucket for loans was 3-4%, with 126 originations.
Loan Sizing
2021 saw Homeowners First Mortgage place emphasis on $400k-600k loans with 93 originations, totaling $46,315,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.12%
Homeowners First Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination35.47%
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 |
LTV Distribution
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% |