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 Home Purchase loans. Ownerschoice Funding Incorporated has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, Syracuse, Jamestown, Rochester, and Utica among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Ownerschoice Funding Incorporated has an 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 a low 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 | 6.97% | 6/22/25 |
| 30 Year Conventional Refi | 7.34% | 6/22/25 |
| 30 Year Cash-out Refi | 7.09% | 6/22/25 |
| 30 Year FHA Purchase | 6.72% | 6/22/25 |
| 30 Year VA Purchase | 6.72% | 6/22/25 |
| 30 Year USDA Purchase | 6.72% | 6/22/25 |
| 15 Year Conventional Purchase | 6.73% | 6/22/25 |
| 15 Year Conventional Refi | 5.64% | 6/22/25 |
| 15 Year Cash-out Refi | 5.64% | 6/22/25 |
| 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. | ||
Ownerschoice Funding Incorporated Mortgage Calculator
Your Estimates
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This is not an official calculator from Ownerschoice Funding Incorporated. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
97Origination Dollar Volume (All Markets)
$16,695,000Awards
OWNERSCHOICE FUNDING INCORPORATED - 2024
OWNERSCHOICE FUNDING INCORPORATED is a 2024 , due to their low .
For 2024, 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
6.75%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.2%.
Relative Fees (Closing Costs)
Ownerschoice Funding Incorporated's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,512.
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 $8,356.
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) | 30 | $6,010,000 | $200,333 | $4,290 | 6.62% |
| Outside of Metro Areas | 12 | $1,750,000 | $145,833 | $4,943 | 6.61% |
| SYRACUSE, NY (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $4,347 | 6.68% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 7 | $755,000 | $107,857 | $4,478 | 6.84% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $4,087 | 6.38% |
| UTICA-ROME, NY (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $5,453 | 6.71% |
| DuBois, PA (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $3,803 | 6.50% |
| Amsterdam, NY (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $5,656 | 6.50% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $4,484 | 7.13% |
| BINGHAMTON, NY (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $4,899 | 6.63% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $5,713 | 6.29% |
| Plattsburgh, NY (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $4,537 | 6.38% |
| New Castle, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,036 | 7.00% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,299 | 7.06% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,125 | 7.00% |
| Olean, NY (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,218 | 6.75% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,317 | 7.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,720 | 7.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,490 | 6.13% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,847 | 6.00% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,631 | 6.00% |
| Batavia, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,196 | 7.00% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,482 | 7.63% |
| Warren, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,707 | 6.50% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $5,525 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against OWNERSCHOICE FUNDING INCORPORATED 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 | 97 | $16,695,000 | $172,113 | $4,488 | 6.65% |
For 2024, Ownerschoice Funding Incorporated's most frequently originated type of loan was Conventional, with 97 originations.
Loan Reason
For 2024, Ownerschoice Funding Incorporated's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
For 2024, Ownerschoice Funding Incorporated's most frequently cited loan duration was 30 Year, with 80 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
Ownerschoice Funding Incorporated's average total fees were $4,512, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 59 | $10,285,000 | $174,322 |
| 7-8% | 21 | $3,635,000 | $173,095 |
| 5-6% | 15 | $2,485,000 | $165,667 |
| 4-5% | 1 | $155,000 | $155,000 |
| Over 8% | 1 | $135,000 | $135,000 |
During 2024, Ownerschoice Funding Incorporated's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 6-7%, with 59 originations.
Loan Sizing
2024 saw Ownerschoice Funding Incorporated place emphasis on $100k-200k loans with 48 originations, totaling $7,270,000 in origination value.
Applicant Income
Ownerschoice Funding Incorporated lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $50k-75k, with 23 originations.
Applicant Debt to Income Ratio
Ownerschoice Funding Incorporated lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.88%
Ownerschoice Funding Incorporated has a below average approval rate.
Pick Rate
Approvals leading to origination42.27%
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 | 97 | $16,695,000 | $172,113 |