Highland Homeloans Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300XJN2FXJNUZ8F52
Tax ID: 26-3249727
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Mortgage Data
Review & Overview
Highland Homeloans is a smaller mortgage company specializing in loans. Highland Homeloans has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Dallas, Houston, Austin, 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 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 | 6.43% | 3/27/23 |
| 30 Year Conventional Refi | 6.32% | 3/27/23 |
| 30 Year Cash-out Refi | 6.97% | 3/27/23 |
| 30 Year FHA Purchase | 7.03% | 3/27/23 |
| 30 Year VA Purchase | 6.36% | 3/27/23 |
| 15 Year Conventional Purchase | 5.83% | 3/27/23 |
| 15 Year Conventional Refi | 5.79% | 3/27/23 |
| 15 Year Cash-out Refi | 5.79% | 3/27/23 |
| 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. | ||
Originations
491Origination Dollar Volume (All Markets)
$212,325,000Relative Rate
Highland Homeloans's average 30 year fixed mortgage rate was
4.81%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.05%.
Relative Fees (Closing Costs)
Highland Homeloans's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,422.
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 $4,750.
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) | 278 | $120,740,000 | $434,317 | $11,688 | 4.65% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 96 | $39,810,000 | $414,688 | $11,490 | 4.83% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 51 | $23,965,000 | $469,902 | $10,137 | 4.87% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 32 | $14,690,000 | $459,063 | $11,380 | 4.66% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 32 | $12,260,000 | $383,125 | $9,260 | 4.61% |
| Ada, OK (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,052 | 5.63% |
| Athens, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,746 | 4.13% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 489 | $211,395,000 | $432,301 | $11,275 | 4.71% |
| FHA | 1 | $425,000 | $425,000 | $17,844 | 5.63% |
| VA | 1 | $505,000 | $505,000 | $11,476 | 5.25% |
For 2022, Highland Homeloans's most frequently originated type of loan was Conventional, with 489 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2022, Highland Homeloans's most frequently cited loan purpose was Home Purchase, with 483 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
For 2022, Highland Homeloans's most frequently cited loan duration was 30 Year, with 442 originations. The 2nd most popular length was 15 Year, with 41 originations.
Origination Fees/Closing Costs
Highland Homeloans's average total fees were $11,422, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 259 originations.
Interest Rates
During 2022, Highland Homeloans's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 170 originations.
Loan Sizing
2022 saw Highland Homeloans place emphasis on $400k-600k loans with 250 originations, totaling $121,050,000 in origination value.
Applicant Income
Highland Homeloans lent most frequently to those with incomes in the $150k-250k range, with 210 originations. The second most popular income band? $100k-150k, with 169 originations.
Applicant Debt to Income Ratio
Highland Homeloans lent most frequently to those with DTI ratios of 20-30%, with 98 originations. The next most common DTI ratio? 30-36%, with 89 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.22%
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 origination71.89%
Highland Homeloans has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 491 | $212,325,000 | $432,434 |