Hometown Bank Mortgage Rates, Fees & Info

Kent, OH

LEI: 549300WF6CI48BRR4W39

Tax ID: 34-0295215

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Hometown Bank is a smaller bank specializing in Home Purchase loans. Hometown Bank has a high proportion of conventional loans. Their top two markets are Akron and Cleveland .

    Hometown Bank 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    24

    Origination Dollar Volume (All Markets)

    $5,510,000

    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
    AKRON, OH (FHA|USDA|VA) 21 $4,845,000 $230,714 $0 0.00%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $665,000 $221,667 $0 0.00%
    Hometown Bank's top markets include Akron and Cleveland among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Hometown Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PULTE MORTGAGE LLC
    Similarity Rank: 144
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
    Similarity Rank: 380
    WEST PENN FINANCIAL SERVICE CENTER, INC.
    Similarity Rank: 688
    Seven Seventeen Credit Union
    Similarity Rank: 820
    Independent Bank
    Similarity Rank: 1458
    Cf Bank
    Similarity Rank: 1550
    THE EQUITABLE MORTGAGE CORPORATION
    Similarity Rank: 1880
    The Farmers National Bank of Canfield
    Similarity Rank: 1960
    First Commonwealth Bank
    Similarity Rank: 2013
    UNION CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 2136

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 24 $5,510,000 $229,583 $0 0.00%

    For 2024, Hometown Bank's most frequently originated type of loan was Conventional, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 20 $4,810,000 $240,500 $0 0.00%
    Cash Out Refi 4 $700,000 $175,000 $0 0.00%

    For 2024, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 24 $5,510,000 $229,583 $0 0.00%

    For 2024, Hometown Bank's most frequently cited loan duration was Other, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 12 $1,950,000 $162,500 $0 0.00%
    $200k-400k 8 $2,370,000 $296,250 $0 0.00%
    $100,000 or less 2 $170,000 $85,000 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $615,000 $615,000 $0 0.00%

    2024 saw Hometown Bank place emphasis on $100k-200k loans with 12 originations, totaling $1,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 6 $1,660,000 $276,667 $0 0.00%
    $75k-100k 6 $1,130,000 $188,333 $0 0.00%
    $100k-150k 3 $585,000 $195,000 $0 0.00%
    $50k-75k 3 $545,000 $181,667 $0 0.00%
    $250k+ 2 $810,000 $405,000 $0 0.00%
    $50k or less 1 $125,000 $125,000 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 24 $5,510,000 $229,583 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 20 $4,580,000 $229,000 $0 0.00%
    Not applicable 2 $500,000 $250,000 $0 0.00%
    Not provided 2 $430,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.67%

    Hometown Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.17%

    Hometown Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 24 $5,510,000 $229,583

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    24 $5,510,000 $229,583