Homesite Mortgage Rates, Fees & Info

SHELBY TOWNSHIP, MI

LEI: 549300WGEJKXK5PPHT03

Tax ID: 20-0976388

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Homesite Mortgage is a smaller mortgage company specializing in Home Purchase loans. Homesite Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, St. Louis, Ann Arbor, Flint, and Grand Rapids among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Homesite Mortgage 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. Homesite Mortgage 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.27% 11/17/24
    30 Year Conventional Refi 6.11% 11/17/24
    30 Year Cash-out Refi 7.71% 11/17/24
    30 Year FHA Purchase 7.15% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 6.15% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    30 Year USDA Purchase 6.92% 11/17/24
    15 Year Conventional Purchase 5.83% 11/17/24
    15 Year FHA Refi 5.68% 11/17/24
    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.

    Homesite Mortgage Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Homesite Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    581

    Origination Dollar Volume (All Markets)

    $167,185,000

    Awards

    HOMESITE MORTGAGE 30 Year Conventional Loans bronze
    Show all (1) awards

    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 347 $94,365,000 $271,945 $4,168 3.10%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 141 $47,655,000 $337,979 $3,258 3.14%
    ANN ARBOR, MI (FHA|USDA|VA) 69 $20,815,000 $301,667 $4,858 3.11%
    Outside of Metro Areas 8 $1,350,000 $168,750 $4,358 3.45%
    FLINT, MI (FHA|USDA|VA) 4 $890,000 $222,500 $6,933 2.97%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $410,000 $205,000 $3,468 2.81%
    PEORIA, IL (FHA|USDA|VA) 2 $380,000 $190,000 $7,805 3.62%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $280,000 $140,000 $3,895 3.31%
    JACKSON, MI (FHA|USDA|VA) 1 $255,000 $255,000 $2,899 3.25%
    Traverse City, MI (FHA|USDA|VA) 1 $245,000 $245,000 $2,256 2.99%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $185,000 $185,000 $6,451 2.75%
    MONROE, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,826 3.38%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $95,000 $95,000 $2,212 3.38%
    Martinsville, VA (FHA|USDA|VA) 1 $85,000 $85,000 $4,760 3.13%
    Homesite Mortgage's top markets include Detroit, St. Louis, Ann Arbor, Flint, and Grand Rapids among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

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

    Polish-American Federal Credit Union
    Similarity Rank: 212
    St James Mortgage Corporation
    Similarity Rank: 304
    Town & Country Bank
    Similarity Rank: 328
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 370
    CapGrow Home Mortgage, LLC
    Similarity Rank: 552
    T&I Credit union
    Similarity Rank: 618
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 627
    JERSEY STATE BANK
    Similarity Rank: 725
    HNB National Bank
    Similarity Rank: 910
    First National Bank of Waterloo
    Similarity Rank: 938

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 464 $136,580,000 $294,353 $3,231 3.13%
    FHA 84 $20,570,000 $244,881 $7,647 3.09%
    VA 28 $8,790,000 $313,929 $6,609 3.01%
    USDA 5 $1,245,000 $249,000 $5,755 3.12%

    For 2021, Homesite Mortgage's most frequently originated type of loan was Conventional, with 464 originations. Their 2nd most popular type was FHA, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 393 $121,845,000 $310,038 $4,717 3.06%
    Refi 122 $31,470,000 $257,951 $2,652 2.88%
    Cash Out Refi 66 $13,870,000 $210,152 $2,695 3.87%

    For 2021, Homesite Mortgage's most frequently cited loan purpose was Home Purchase, with 393 originations. The 2nd most popular reason was Refi, with 122 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 511 $152,795,000 $299,012 $4,300 3.09%
    15 Year 45 $10,635,000 $236,333 $2,711 2.51%
    20 Year 13 $2,515,000 $193,462 $2,300 2.99%
    Other 12 $1,240,000 $103,333 $520 6.70%

    For 2021, Homesite Mortgage's most frequently cited loan duration was 30 Year, with 511 originations. The 2nd most popular length was 15 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 444 $128,520,000 $289,459
    $1k-2k 58 $13,540,000 $233,448
    $2k-3k 41 $11,875,000 $289,634
    $3k-4k 20 $6,030,000 $301,500
    $4k-5k 11 $4,155,000 $377,727
    $5k+ 7 $3,065,000 $437,857

    Homesite Mortgage's average total fees were $4,300, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 444 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 281 $85,545,000 $304,431
    3-4% 247 $67,525,000 $273,381
    <2.5% 38 $11,080,000 $291,579
    6-7% 11 $1,105,000 $100,455
    4-5% 4 $1,930,000 $482,500

    During 2021, Homesite Mortgage's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 281 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 344 $99,110,000 $288,110 $4,468 3.08%
    $100k-200k 105 $16,155,000 $153,857 $3,232 3.13%
    $400k-600k 102 $47,660,000 $467,255 $3,884 2.94%
    $100,000 or less 27 $2,075,000 $76,852 $2,127 4.15%
    $600k-1MM 3 $2,185,000 $728,333 $8,507 3.66%

    2021 saw Homesite Mortgage place emphasis on $200k-400k loans with 344 originations, totaling $99,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 213 $68,245,000 $320,399 $4,303 3.09%
    $75k-100k 129 $32,905,000 $255,078 $4,387 3.11%
    $150k-250k 96 $35,300,000 $367,708 $3,456 3.21%
    $50k-75k 95 $20,425,000 $215,000 $3,954 3.10%
    $50k or less 33 $4,805,000 $145,606 $3,570 3.17%
    $250k+ 12 $4,490,000 $374,167 $3,107 2.90%

    Homesite Mortgage lent most frequently to those with incomes in the $100k-150k range, with 213 originations. The second most popular income band? $75k-100k, with 129 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 138 $38,480,000 $278,841 $3,485 3.00%
    30-36% 133 $40,385,000 $303,647 $3,887 3.07%
    <20% 40 $9,660,000 $241,500 $2,927 3.13%
    36% 29 $9,445,000 $325,690 $4,320 3.05%
    40% 25 $6,475,000 $259,000 $4,091 3.08%
    41% 22 $6,730,000 $305,909 $4,148 2.96%
    50-60% 21 $4,915,000 $234,048 $7,465 3.28%
    44% 21 $5,625,000 $267,857 $4,479 3.10%
    43% 20 $5,770,000 $288,500 $4,225 3.21%
    37% 18 $5,160,000 $286,667 $3,205 3.17%
    39% 18 $6,030,000 $335,000 $5,377 3.19%
    38% 17 $4,725,000 $277,941 $3,830 3.50%
    42% 17 $5,885,000 $346,176 $3,483 3.45%
    46% 16 $4,560,000 $285,000 $4,725 3.39%
    49% 14 $4,420,000 $315,714 $4,744 3.49%
    47% 11 $3,285,000 $298,636 $5,209 3.17%
    48% 11 $3,155,000 $286,818 $5,152 3.07%
    45% 10 $2,480,000 $248,000 $5,138 3.05%

    Homesite Mortgage lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 429 $118,415,000 $276,026 $3,789 3.10%
    Black 85 $24,795,000 $291,706 $5,458 3.22%
    Asian 42 $16,020,000 $381,429 $3,998 2.96%
    Not provided 24 $7,740,000 $322,500 $3,993 3.30%
    Native Hawaiian or Islander 1 $215,000 $215,000 $2,175 2.49%

    Approval Rates

    Total approvals of all applications
    99.25%

    Homesite Mortgage 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
    41.31%

    Homesite Mortgage 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 581 $167,185,000 $287,754

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    581 $167,185,000 $287,754

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,415,000 $163,519 $2,456 3.69%
    40-60% 49 $10,785,000 $220,102 $2,540 3.00%
    60-80% 172 $49,750,000 $289,244 $3,260 3.07%
    80-100% 321 $99,765,000 $310,794 $4,735 3.06%
    Over 100% 7 $2,225,000 $317,857 $11,602 3.09%
    Under 20% 5 $245,000 $49,000 $570 6.14%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    HOMESTEAD FUNDING CORPORATION Conventional home mortgage Struggling to pay mortgage 1 33.3%
    HOMESTEAD FUNDING CORPORATION Conventional home mortgage Trouble during payment process 1 33.3%
    HOMESTEAD FUNDING CORPORATION FHA mortgage Closing on a mortgage 1 33.3%