Ownerschoice Funding Incorporated Mortgage Rates, Fees & Info
ALBANY, NYLEI: 549300W5V403XF1RX254
Tax ID: 14-1691162
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 include Buffalo, New York, Utica, Syracuse, and Albany among others. Ownerschoice Funding Incorporated has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Ownerschoice Funding Incorporated is typically an average fee lendor.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 rate mortgage of loans were
3.17%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.02%.
Relative Fees
Ownerschoice Funding Incorporated's average total fees for a 30 year fixed rate
mortgage are $3,546.
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 |
|---|---|---|---|---|---|
| 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% |
Ownerschoice Funding Incorporated's top markets include Buffalo, New York, Utica, Syracuse, and Albany among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,012 | $180,600,000 | $178,458 | $3,313 | 2.91% |
For the 2021 period, Ownerschoice Funding Incorporated's most frequently originated loan type of loans were Conventional, with 1,012 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 443 | $85,095,000 | $192,088 | $3,345 | 2.90% |
| Home Purchase | 285 | $49,805,000 | $174,754 | $3,532 | 3.06% |
| Refi | 284 | $45,700,000 | $160,915 | $3,042 | 2.77% |
For the 2021, Ownerschoice Funding Incorporated's most frequently cited loan purpose of loans were Cash Out Refi, with 443 originations. The 2nd most popular reason of loans were Home Purchase, with 285 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 446 | $88,100,000 | $197,534 | $3,546 | 3.17% |
| 15 Year | 361 | $56,625,000 | $156,856 | $3,010 | 2.59% |
| 20 Year | 136 | $26,480,000 | $194,706 | $3,473 | 2.98% |
| 10 Year | 49 | $5,635,000 | $115,000 | $2,939 | 2.49% |
| Other | 20 | $3,760,000 | $188,000 | $3,397 | 3.17% |
For the 2021, Ownerschoice Funding Incorporated's most frequently cited loan length of loans were 30 Year, with 446 originations. The 2nd most popular length of loans were 15 Year, with 361 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 719 | $118,745,000 | $165,153 |
| $1k-2k | 193 | $37,145,000 | $192,461 |
| $2k-3k | 46 | $9,300,000 | $202,174 |
| $3k-4k | 38 | $10,020,000 | $263,684 |
| $5k+ | 16 | $5,390,000 | $336,875 |
$3,546 of loans were Ownerschoice Funding Incorporated's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.17%, while their most frequently originated rate bucket of loans were 2.5-3%, with 455 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 490 | $71,580,000 | $146,082 | $3,039 | 2.91% |
| $200k-400k | 280 | $75,680,000 | $270,286 | $3,903 | 2.97% |
| $100,000 or less | 201 | $14,545,000 | $72,363 | $2,815 | 2.78% |
| $400k-600k | 39 | $17,515,000 | $449,103 | $5,026 | 3.10% |
| $600k-1MM | 2 | $1,280,000 | $640,000 | $4,593 | 3.06% |
2021 saw Ownerschoice Funding Incorporated place emphasis on $100k-200k loans with 490 originations, totaling $71,580,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 263 | $55,805,000 | $212,186 | $3,538 | 2.90% |
| $50k-75k | 233 | $32,695,000 | $140,322 | $3,150 | 2.95% |
| $75k-100k | 187 | $29,375,000 | $157,086 | $3,181 | 2.91% |
| $150k-250k | 158 | $42,390,000 | $268,291 | $3,715 | 2.85% |
| $50k or less | 153 | $14,875,000 | $97,222 | $2,899 | 2.94% |
| $250k+ | 18 | $5,460,000 | $303,333 | $3,471 | 2.69% |
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
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 278 | $47,540,000 | $171,007 | $3,155 | 2.85% |
| 30-36% | 218 | $39,060,000 | $179,174 | $3,341 | 2.95% |
| <20% | 110 | $15,460,000 | $140,545 | $3,075 | 2.80% |
| 36% | 42 | $7,760,000 | $184,762 | $3,628 | 2.90% |
| 42% | 36 | $7,240,000 | $201,111 | $3,509 | 3.00% |
| 38% | 36 | $7,480,000 | $207,778 | $3,458 | 2.98% |
| 37% | 34 | $6,270,000 | $184,412 | $3,636 | 2.90% |
| 43% | 32 | $5,060,000 | $158,125 | $3,363 | 2.92% |
| 44% | 32 | $6,120,000 | $191,250 | $3,470 | 2.99% |
| 39% | 31 | $5,275,000 | $170,161 | $2,873 | 2.98% |
| 40% | 30 | $6,150,000 | $205,000 | $3,847 | 3.08% |
| 41% | 27 | $5,325,000 | $197,222 | $3,434 | 2.94% |
| 47% | 26 | $5,360,000 | $206,154 | $3,599 | 2.96% |
| 46% | 22 | $4,270,000 | $194,091 | $3,305 | 2.81% |
| 49% | 22 | $4,440,000 | $201,818 | $3,521 | 2.91% |
| 45% | 17 | $3,425,000 | $201,471 | $3,124 | 3.10% |
| 48% | 14 | $2,560,000 | $182,857 | $3,224 | 2.81% |
| 50-60% | 5 | $1,805,000 | $361,000 | $4,719 | 3.13% |
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
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 823 | $146,975,000 | $178,584 | $3,294 | 2.91% |
| Not provided | 125 | $22,525,000 | $180,200 | $3,404 | 2.83% |
| Black | 38 | $6,750,000 | $177,632 | $3,592 | 3.03% |
| Asian | 16 | $2,680,000 | $167,500 | $3,071 | 3.19% |
| American Indian | 6 | $780,000 | $130,000 | $3,263 | 3.04% |
| Asian Indian | 2 | $630,000 | $315,000 | $2,881 | 3.00% |
| Other Pacific Islander | 1 | $195,000 | $195,000 | $2,769 | 3.13% |
| Japanese | 1 | $65,000 | $65,000 | $2,598 | 2.88% |
Approval Rates
Total approvals of all applications82.97%
Ownerschoice Funding Incorporated has a below average approval rate.
Pick Rate
Approvals leading to origination58.76%
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 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,012 | $180,600,000 | $178,458 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 74 | $8,140,000 | $110,000 | $2,953 | 2.66% |
| 40-60% | 254 | $40,450,000 | $159,252 | $2,994 | 2.76% |
| 60-80% | 430 | $85,630,000 | $199,140 | $3,481 | 2.94% |
| 80-100% | 248 | $45,900,000 | $185,081 | $3,458 | 3.08% |
| Under 20% | 6 | $480,000 | $80,000 | $3,215 | 2.60% |
