Highland Homeloans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300XJN2FXJNUZ8F52

Tax ID: 26-3249727

2.1 stars - Updated: 7/11/24 - out of 5 stars, based on 20 reviews

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

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Mortgage Data

Review & Overview

Highland Homeloans is a smaller mortgage company specializing in Home Purchase loans. Highland Homeloans has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Austin, Houston, San Antonio, and Sherman among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Highland Homeloans 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. Highland Homeloans is typically a high 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 relatively high 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 6.43% 7/11/24
30 Year Conventional Refi 6.32% 7/11/24
30 Year Cash-out Refi 6.97% 7/11/24
30 Year FHA Purchase 7.03% 7/11/24
30 Year VA Purchase 6.36% 7/11/24
15 Year Conventional Purchase 5.83% 7/11/24
15 Year Conventional Refi 5.79% 7/11/24
15 Year Cash-out Refi 5.79% 7/11/24
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.

Highland Homeloans Mortgage Calculator






Your Estimates

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

This is not an official calculator from Highland Homeloans. 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

397

Origination Dollar Volume (All Markets)

$185,215,000

Awards

HIGHLAND HOMELOANS 30 Year Conventional Loans silver HIGHLAND HOMELOANS 30 Year Conventional Loans silver HIGHLAND HOMELOANS 30 Year Conventional Loans gold HIGHLAND HOMELOANS 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

Highland Homeloans's average 30 year fixed mortgage rate was 6.3%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.18%.

Relative Fees (Closing Costs)

Highland Homeloans's average total fees/closing costs for a 30 year fixed rate mortgage were $12,558.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 196 $94,020,000 $479,694 $13,348 6.19%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 60 $33,390,000 $556,500 $12,434 6.37%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 83 $33,365,000 $401,988 $10,460 6.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 40 $17,830,000 $445,750 $13,510 6.09%
SHERMAN-DENISON, TX (FHA|USDA|VA) 16 $5,690,000 $355,625 $10,848 5.77%
Ada, OK (FHA|USDA|VA) 1 $725,000 $725,000 $5,248 7.38%
Athens, TX (FHA|USDA|VA) 1 $195,000 $195,000 $9,386 7.25%
Highland Homeloans's top markets include Dallas, Austin, Houston, San Antonio, and Sherman among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

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

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    DATCU
    Similarity Rank: 981
    PRIMEWAY
    Similarity Rank: 1048
    HOMEWAY MORTGAGE LLC
    Similarity Rank: 1050

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 397 $185,215,000 $466,537 $12,496 6.26%

    For 2023, Highland Homeloans's most frequently originated type of loan was Conventional, with 397 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 397 $185,215,000 $466,537 $12,496 6.26%

    For 2023, Highland Homeloans's most frequently cited loan purpose was Home Purchase, with 397 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 376 $176,890,000 $470,452 $12,558 6.30%
    15 Year 15 $5,765,000 $384,333 $10,474 5.47%
    20 Year 5 $2,355,000 $471,000 $14,303 5.75%
    10 Year 1 $205,000 $205,000 $10,528 4.75%

    For 2023, Highland Homeloans's most frequently cited loan duration was 30 Year, with 376 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 249 $124,455,000 $499,819
    $1k-2k 74 $32,110,000 $433,919
    $<1k 22 $6,190,000 $281,364
    $2k-3k 22 $9,030,000 $410,455
    $4k-5k 15 $7,195,000 $479,667
    $3k-4k 14 $5,710,000 $407,857

    Highland Homeloans's average total fees were $12,558, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 249 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 160 $71,460,000 $446,625
    6-7% 147 $70,655,000 $480,646
    7-8% 64 $33,500,000 $523,438
    4-5% 24 $8,660,000 $360,833
    Over 8% 2 $940,000 $470,000

    During 2023, Highland Homeloans's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 5-6%, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 171 $83,655,000 $489,211 $13,587 6.28%
    $200k-400k 114 $37,400,000 $328,070 $9,924 6.09%
    $600k-1MM 90 $60,740,000 $674,889 $15,510 6.53%
    $100k-200k 22 $3,420,000 $155,455 $5,066 5.90%

    2023 saw Highland Homeloans place emphasis on $400k-600k loans with 171 originations, totaling $83,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 184 $91,860,000 $499,239 $13,774 6.34%
    $100k-150k 99 $40,415,000 $408,232 $11,483 6.09%
    $250k+ 76 $42,910,000 $564,605 $12,467 6.44%
    $75k-100k 31 $8,445,000 $272,419 $9,323 6.01%
    $50k-75k 7 $1,585,000 $226,429 $7,592 5.78%

    Highland Homeloans lent most frequently to those with incomes in the $150k-250k range, with 184 originations. The second most popular income band? $100k-150k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 66 $30,790,000 $466,515 $12,229 6.06%
    20-30% 59 $23,855,000 $404,322 $10,880 6.11%
    49% 32 $15,090,000 $471,563 $14,777 6.05%
    44% 29 $15,055,000 $519,138 $12,650 6.25%
    48% 22 $11,230,000 $510,455 $12,543 6.33%
    47% 21 $9,565,000 $455,476 $12,712 6.59%
    43% 20 $10,680,000 $534,000 $13,456 6.50%
    37% 19 $8,405,000 $442,368 $16,147 6.24%
    36% 18 $10,000,000 $555,556 $12,034 6.66%
    42% 16 $8,520,000 $532,500 $13,327 6.44%
    46% 16 $7,100,000 $443,750 $13,588 6.59%
    39% 15 $6,655,000 $443,667 $12,618 6.22%
    38% 14 $5,630,000 $402,143 $9,520 6.40%
    40% 13 $6,085,000 $468,077 $11,522 6.20%
    45% 11 $5,025,000 $456,818 $9,801 6.76%
    <20% 9 $2,835,000 $315,000 $9,086 6.04%
    41% 9 $5,065,000 $562,778 $15,532 6.18%
    50-60% 8 $3,630,000 $453,750 $13,193 6.01%

    Highland Homeloans lent most frequently to those with DTI ratios of 30-36%, with 66 originations. The next most common DTI ratio? 20-30%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 198 $86,300,000 $435,859 $11,860 6.24%
    Asian 66 $33,300,000 $504,545 $13,182 6.25%
    Not provided 55 $25,905,000 $471,000 $12,811 6.22%
    Asian Indian 30 $17,750,000 $591,667 $13,235 6.59%
    Black 35 $16,415,000 $469,000 $13,463 6.29%
    Other Asian 5 $2,755,000 $551,000 $15,783 6.07%
    Chinese 2 $660,000 $330,000 $9,960 6.19%
    American Indian 2 $620,000 $310,000 $9,420 5.81%
    Korean 1 $475,000 $475,000 $14,624 5.99%
    Vietnamese 1 $405,000 $405,000 $15,029 5.38%
    Native Hawaiian or Islander 1 $315,000 $315,000 $5,933 5.99%
    Filipino 1 $315,000 $315,000 $16,822 5.50%

    Approval Rates

    Total approvals of all applications
    96.88%

    Highland Homeloans 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
    82.87%

    Highland Homeloans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 397 $185,215,000 $466,537

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    397 $185,215,000 $466,537

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $5,280,000 $203,077 $5,623 5.89%
    40-60% 37 $13,085,000 $353,649 $10,840 5.85%
    60-80% 134 $65,650,000 $489,925 $13,040 6.31%
    80-100% 196 $100,390,000 $512,194 $13,436 6.35%
    Over 100% 1 $455,000 $455,000 $18,195 7.63%
    Under 20% 3 $355,000 $118,333 $5,087 5.83%