Hometown Bank Mortgage Rates, Fees & Info
Kent, OHLEI: 549300WF6CI48BRR4W39
Tax ID: 34-0295215
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Hometown Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Hometown Bank has a high proportion of conventional loans. Their top markets by origination volume include: Akron, Canton, Pittsburgh, Cleveland, and Youngstown among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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Originations
126Origination Dollar Volume (All Markets)
$26,610,000Top 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) | 100 | $21,020,000 | $210,200 | $0 | 0.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 6 | $1,200,000 | $200,000 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 6 | $930,000 | $155,000 | $0 | 0.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| Ashtabula, OH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| MANSFIELD, OH (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 0.00% |
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.
Similarity Rank: 312
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 126 | $26,610,000 | $211,190 | $0 | 0.00% |
For 2022, Hometown Bank's most frequently originated type of loan was Conventional, with 126 originations.
Loan Reason
For 2022, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 126 | $26,610,000 | $211,190 | $0 | 0.00% |
For 2022, Hometown Bank's most frequently cited loan duration was Other, with 126 originations.
Loan Sizing
2022 saw Hometown Bank place emphasis on $100k-200k loans with 48 originations, totaling $6,910,000 in origination value.
Applicant Income
Hometown Bank lent most frequently to those with incomes in the $75k-100k range, with 25 originations. The second most popular income band? $50k or less, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 126 | $26,610,000 | $211,190 | $0 | 0.00% |
Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 126 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.08%
Hometown Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.30%
Hometown Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 126 | $26,610,000 | $211,190 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |