Homesite Mortgage Rates, Fees & Info
SHELBY TOWNSHIP, MILEI: 549300WGEJKXK5PPHT03
Tax ID: 20-0976388
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Mortgage Data
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, Columbia, and Chicago among others. We have data for 19 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.11% | 4/28/24 |
| 30 Year Cash-out Refi | 7.71% | 4/28/24 |
| 30 Year FHA Purchase | 7.15% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.15% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 6.92% | 4/28/24 |
| 15 Year Conventional Purchase | 5.83% | 4/28/24 |
| 15 Year FHA Refi | 5.68% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
320Origination Dollar Volume (All Markets)
$103,490,000Top 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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 160 | $53,860,000 | $336,625 | $5,017 | 4.84% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 74 | $24,860,000 | $335,946 | $2,489 | 4.97% |
| ANN ARBOR, MI (FHA|USDA|VA) | 57 | $20,135,000 | $353,246 | $3,927 | 4.85% |
| Outside of Metro Areas | 8 | $1,080,000 | $135,000 | $1,022 | 4.84% |
| COLUMBIA, MO (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $2,780 | 5.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $0 | 4.33% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,117 | 4.94% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,630 | 4.88% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,342 | 5.63% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 2.99% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,116 | 6.13% |
| FLINT, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $10,795 | 5.50% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,983 | 6.75% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,481 | 6.13% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.63% |
| Branson, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.65% |
| Kennett, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.63% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,571 | 5.99% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.13% |
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.
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Product Mix
For 2022, Homesite Mortgage's most frequently originated type of loan was Conventional, with 256 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
For 2022, Homesite Mortgage's most frequently cited loan purpose was Home Purchase, with 291 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.
Loan Duration/Length
For 2022, Homesite Mortgage's most frequently cited loan duration was 30 Year, with 313 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Homesite Mortgage's average total fees were $3,969, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 217 originations.
Interest Rates
During 2022, Homesite Mortgage's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 98 originations.
Loan Sizing
2022 saw Homesite Mortgage place emphasis on $200k-400k loans with 140 originations, totaling $43,300,000 in origination value.
Applicant Income
Homesite Mortgage lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $150k-250k, with 72 originations.
Applicant Debt to Income Ratio
Homesite Mortgage lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.33%
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 origination14.69%
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 | 320 | $103,490,000 | $323,406 |