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 and Cash Out 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 53 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 | 6.89% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.81% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.90% | 4/21/24 |
| 15 Year Conventional Refi | 5.81% | 4/21/24 |
| 15 Year Cash-out Refi | 5.81% | 4/21/24 |
| 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. | ||
Ownerschoice Funding Incorporated Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
953Origination Dollar Volume (All Markets)
$154,165,000Awards
OWNERSCHOICE FUNDING INCORPORATED - 2019
OWNERSCHOICE FUNDING INCORPORATED is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 357 | $50,485,000 | $141,415 | $2,967 | 3.93% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 153 | $44,125,000 | $288,399 | $6,161 | 3.72% |
| UTICA-ROME, NY (FHA|USDA|VA) | 100 | $12,790,000 | $127,900 | $3,518 | 3.95% |
| SYRACUSE, NY (FHA|USDA|VA) | 87 | $11,225,000 | $129,023 | $3,085 | 4.02% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 28 | $6,200,000 | $221,429 | $4,140 | 4.03% |
| ROCHESTER, NY (FHA|USDA|VA) | 28 | $3,460,000 | $123,571 | $3,089 | 4.05% |
| Outside of Metro Areas | 26 | $3,240,000 | $124,615 | $3,476 | 3.95% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 21 | $2,215,000 | $105,476 | $3,275 | 3.93% |
| PITTSBURGH, PA (FHA|USDA|VA) | 16 | $2,060,000 | $128,750 | $3,278 | 4.05% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 11 | $1,675,000 | $152,273 | $3,218 | 4.25% |
| Olean, NY (FHA|USDA|VA) | 12 | $1,270,000 | $105,833 | $2,899 | 4.11% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 8 | $1,100,000 | $137,500 | $3,005 | 4.33% |
| Gloversville, NY (FHA|USDA|VA) | 11 | $975,000 | $88,636 | $3,599 | 4.16% |
| GLENS FALLS, NY (FHA|USDA|VA) | 6 | $950,000 | $158,333 | $3,982 | 4.10% |
| Warren, PA (FHA|USDA|VA) | 6 | $910,000 | $151,667 | $3,347 | 4.17% |
| Auburn, NY (FHA|USDA|VA) | 5 | $825,000 | $165,000 | $3,278 | 4.13% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $2,963 | 3.54% |
| Amsterdam, NY (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $4,108 | 4.16% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $3,631 | 3.96% |
| New Castle, PA (FHA|USDA|VA) | 6 | $600,000 | $100,000 | $3,466 | 3.92% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $3,281 | 3.75% |
| KINGSTON, NY (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,921 | 3.92% |
| Plattsburgh, NY (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $3,319 | 3.75% |
| Batavia, NY (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $2,797 | 4.09% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,803 | 4.31% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $2,850 | 3.92% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,446 | 4.25% |
| Malone, NY (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $3,102 | 4.03% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $9,182 | 4.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,265 | 3.25% |
| BINGHAMTON, NY (FHA|USDA|VA) | 5 | $335,000 | $67,000 | $3,182 | 3.95% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,410 | 4.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,347 | 4.06% |
| ERIE, PA (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,110 | 4.13% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,027 | 3.75% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,626 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,165 | 3.50% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,751 | 3.88% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,723 | 3.00% |
| Bradford, PA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $3,032 | 4.44% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,981 | 4.25% |
| Corning, NY (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $2,976 | 3.75% |
| Barre, VT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,664 | 4.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,390 | 3.25% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,812 | 3.88% |
| READING, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,967 | 5.13% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,641 | 3.88% |
| Meadville, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,185 | 3.50% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,559 | 4.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,133 | 2.75% |
| Bennington, VT (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $587 | 5.00% |
| St. Marys, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,682 | 4.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,531 | 3.13% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 953 | $154,165,000 | $161,768 | $3,669 | 3.93% |
For 2019, Ownerschoice Funding Incorporated's most frequently originated type of loan was Conventional, with 953 originations.
Loan Reason
For 2019, Ownerschoice Funding Incorporated's most frequently cited loan purpose was Home Purchase, with 526 originations. The 2nd most popular reason was Cash Out Refi, with 348 originations.
Loan Duration/Length
For 2019, Ownerschoice Funding Incorporated's most frequently cited loan duration was 30 Year, with 622 originations. The 2nd most popular length was 15 Year, with 216 originations.
Origination Fees/Closing Costs
Ownerschoice Funding Incorporated's average total fees were $3,848, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 576 originations.
Interest Rates
During 2019, Ownerschoice Funding Incorporated's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 557 originations.
Loan Sizing
2019 saw Ownerschoice Funding Incorporated place emphasis on $100k-200k loans with 434 originations, totaling $60,730,000 in origination value.
Applicant Income
Ownerschoice Funding Incorporated lent most frequently to those with incomes in the $50k-75k range, with 233 originations. The second most popular income band? $100k-150k, with 220 originations.
Applicant Debt to Income Ratio
Ownerschoice Funding Incorporated lent most frequently to those with DTI ratios of 20-30%, with 232 originations. The next most common DTI ratio? 30-36%, with 195 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.94%
Ownerschoice Funding Incorporated has a below average approval rate.
Pick Rate
Approvals leading to origination64.95%
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 | 953 | $154,165,000 | $161,768 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 7 | $575,000 | $82,143 |
| Single Family (1-4 Units):Site-Built | 946 | $153,590,000 | $162,357 |