Ownerschoice Funding Incorporated Mortgage Rates, Fees & Info
ALBANY, NYLEI: 549300W5V403XF1RX254
Tax ID: 14-1691162
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Mortgage Data
Review & Overview
Ownerschoice Funding Incorporated is a smaller mortgage company specializing in Cash Out Refi, Home Purchase, and Refi loans. Ownerschoice Funding Incorporated has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, New York, Utica, Syracuse, and Albany among others. We have data for 58 markets. (Some data included below & more in-depth data is available with an active subscription.)Ownerschoice Funding Incorporated 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. Ownerschoice Funding Incorporated is typically an average 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 | 6.69% | 3/19/23 |
| 30 Year Conventional Refi | 6.66% | 3/19/23 |
| 30 Year Cash-out Refi | 6.61% | 3/19/23 |
| 30 Year FHA Purchase | 6.27% | 3/19/23 |
| 30 Year VA Purchase | 6.27% | 3/19/23 |
| 30 Year USDA Purchase | 6.27% | 3/19/23 |
| 15 Year Conventional Purchase | 6.16% | 3/19/23 |
| 15 Year Conventional Refi | 6.10% | 3/19/23 |
| 15 Year Cash-out Refi | 6.10% | 3/19/23 |
| 15 Year FHA Purchase | 5.68% | 3/19/23 |
| 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
1,012Origination Dollar Volume (All Markets)
$180,600,000Awards
OWNERSCHOICE FUNDING INCORPORATED - 2021
OWNERSCHOICE FUNDING INCORPORATED is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Ownerschoice Funding Incorporated's average 30 year fixed mortgage rate was
3.17%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.02%.
Relative Fees (Closing Costs)
Ownerschoice Funding Incorporated's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,546.
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 |
|---|---|---|---|---|---|
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 416 | $67,030,000 | $161,130 | $2,910 | 2.85% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 147 | $43,945,000 | $298,946 | $4,795 | 2.94% |
| UTICA-ROME, NY (FHA|USDA|VA) | 91 | $14,405,000 | $158,297 | $3,221 | 2.98% |
| SYRACUSE, NY (FHA|USDA|VA) | 68 | $9,500,000 | $139,706 | $3,012 | 2.95% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 22 | $4,790,000 | $217,727 | $3,851 | 2.91% |
| ROCHESTER, NY (FHA|USDA|VA) | 35 | $4,635,000 | $132,429 | $3,090 | 2.93% |
| Outside of Metro Areas | 30 | $3,710,000 | $123,667 | $3,661 | 3.01% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 30 | $3,540,000 | $118,000 | $2,797 | 2.82% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 20 | $3,190,000 | $159,500 | $2,663 | 3.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 14 | $2,400,000 | $171,429 | $2,629 | 2.69% |
| PITTSBURGH, PA (FHA|USDA|VA) | 15 | $2,365,000 | $157,667 | $3,379 | 2.96% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 8 | $1,920,000 | $240,000 | $3,650 | 3.08% |
| GLENS FALLS, NY (FHA|USDA|VA) | 9 | $1,645,000 | $182,778 | $3,545 | 3.00% |
| KINGSTON, NY (FHA|USDA|VA) | 8 | $1,520,000 | $190,000 | $3,445 | 2.98% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $3,839 | 2.94% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $3,129 | 3.03% |
| DOVER, DE (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $3,633 | 2.93% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $4,013 | 2.83% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,104 | 3.04% |
| Plattsburgh, NY (FHA|USDA|VA) | 7 | $845,000 | $120,714 | $2,991 | 2.88% |
| Gloversville, NY (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $2,989 | 3.10% |
| Olean, NY (FHA|USDA|VA) | 6 | $610,000 | $101,667 | $3,277 | 2.88% |
| Auburn, NY (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $3,355 | 3.06% |
| New Castle, PA (FHA|USDA|VA) | 5 | $555,000 | $111,000 | $3,150 | 3.18% |
| Batavia, NY (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,803 | 2.54% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,792 | 2.56% |
| Oneonta, NY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,854 | 2.81% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,835 | 3.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,109 | 3.38% |
| BINGHAMTON, NY (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,287 | 3.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,205 | 2.38% |
| OCALA, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,827 | 3.25% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,958 | 3.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,573 | 2.63% |
| Bradford, PA (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $3,131 | 2.92% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,679 | 3.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,439 | 3.00% |
| Warren, PA (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $2,908 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,751 | 3.00% |
| Hudson, NY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,838 | 3.13% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,546 | 2.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,609 | 2.63% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,801 | 3.25% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,442 | 3.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,948 | 3.25% |
| St. Marys, PA (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $2,963 | 2.88% |
| Malone, NY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,996 | 2.69% |
| ERIE, PA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,883 | 3.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,418 | 3.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,671 | 3.38% |
| Keene, NH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,632 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,929 | 3.13% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,206 | 3.38% |
| Sayre, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,475 | 3.50% |
| Cortland, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,935 | 3.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,901 | 2.38% |
| Oil City, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,773 | 3.00% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $3,125 | 2.63% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,012 | $180,600,000 | $178,458 | $3,313 | 2.91% |
For 2021, Ownerschoice Funding Incorporated's most frequently originated type of loan was Conventional, with 1,012 originations.
Loan Reason
For 2021, Ownerschoice Funding Incorporated's most frequently cited loan purpose was Cash Out Refi, with 443 originations. The 2nd most popular reason was Home Purchase, with 285 originations.
Loan Duration/Length
For 2021, Ownerschoice Funding Incorporated's most frequently cited loan duration was 30 Year, with 446 originations. The 2nd most popular length was 15 Year, with 361 originations.
Origination Fees/Closing Costs
Ownerschoice Funding Incorporated's average total fees were $3,546, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 719 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 455 | $79,265,000 | $174,209 |
| 3-4% | 340 | $67,860,000 | $199,588 |
| <2.5% | 215 | $33,035,000 | $153,651 |
| 4-5% | 2 | $440,000 | $220,000 |
During 2021, Ownerschoice Funding Incorporated's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 455 originations.
Loan Sizing
2021 saw Ownerschoice Funding Incorporated place emphasis on $100k-200k loans with 490 originations, totaling $71,580,000 in origination value.
Applicant Income
Ownerschoice Funding Incorporated lent most frequently to those with incomes in the $100k-150k range, with 263 originations. The second most popular income band? $50k-75k, with 233 originations.
Applicant Debt to Income Ratio
Ownerschoice Funding Incorporated lent most frequently to those with DTI ratios of 20-30%, with 278 originations. The next most common DTI ratio? 30-36%, with 218 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.30%
Ownerschoice Funding Incorporated has an average approval rate.
Pick Rate
Approvals leading to origination54.25%
Ownerschoice Funding Incorporated 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 | 1,012 | $180,600,000 | $178,458 |