Highland Homeloans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300XJN2FXJNUZ8F52

Tax ID: 26-3249727

2.7 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Dallas, Houston, Austin, San Antonio, and Sherman among others. Highland Homeloans has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Highland Homeloans is typically a high fee lendor.


Originations

954

Origination Dollar Volume (All Markets)

$338,490,000

Relative Rate

Highland Homeloans 's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Highland Homeloans 's average total fees for a 30 year fixed rate mortgage are $7,375.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 482 $173,400,000 $359,751 $7,160 2.96%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 238 $82,970,000 $348,613 $7,428 2.89%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 139 $48,735,000 $350,612 $6,727 2.96%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 64 $24,430,000 $381,719 $8,076 2.92%
SHERMAN-DENISON, TX (FHA|USDA|VA) 20 $6,600,000 $330,000 $6,838 3.06%
Outside of Metro Areas 3 $675,000 $225,000 $4,823 3.04%
Athens, TX (FHA|USDA|VA) 2 $470,000 $235,000 $4,279 2.87%
Bonham, TX (FHA|USDA|VA) 1 $365,000 $365,000 $7,054 2.99%
HAMMOND, LA (FHA|USDA|VA) 1 $225,000 $225,000 $5,744 3.50%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,810 2.75%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,106 2.99%
LUBBOCK, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,991 3.25%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $95,000 $95,000 $4,744 3.50%

Highland Homeloans 's top markets include Dallas, Houston, Austin, San Antonio, and Sherman among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 954 $338,490,000 $354,811 $7,191 2.94%

For the 2021 period, Highland Homeloans 's most frequently originated loan type of loans were Conventional, with 954 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 828 $299,510,000 $361,727 $7,473 2.94%
Refi 95 $28,425,000 $299,211 $4,937 2.87%
Cash Out Refi 31 $10,555,000 $340,484 $6,488 3.31%

For the 2021, Highland Homeloans 's most frequently cited loan purpose of loans were Home Purchase, with 828 originations. The 2nd most popular reason of loans were Refi, with 95 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 823 $300,445,000 $365,061 $7,375 3.03%
15 Year 99 $29,265,000 $295,606 $6,196 2.38%
20 Year 15 $4,595,000 $306,333 $7,154 2.80%
Other 9 $2,795,000 $310,556 $4,597 3.09%
10 Year 5 $1,365,000 $273,000 $5,776 2.15%
3 Year 3 $25,000 $8,333 $0 0.00%

For the 2021, Highland Homeloans 's most frequently cited loan length of loans were 30 Year, with 823 originations. The 2nd most popular length of loans were 15 Year, with 99 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 512 $175,940,000 $343,633
$2k-3k 186 $66,910,000 $359,731
$3k-4k 154 $57,350,000 $372,403
$5k+ 89 $36,665,000 $411,966
$<1k 13 $1,625,000 $125,000

$7,375 of loans were Highland Homeloans 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 512 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 508 $182,760,000 $359,764
3-4% 338 $124,770,000 $369,142
<2.5% 101 $29,005,000 $287,178
4-5% 6 $1,790,000 $298,333
5-6% 1 $165,000 $165,000

During 2021, Highland Homeloans 's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 508 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 555 $176,385,000 $317,811 $6,717 2.96%
$400k-600k 317 $150,365,000 $474,338 $8,651 2.98%
$100k-200k 71 $11,095,000 $156,268 $5,021 2.79%
$100,000 or less 11 $645,000 $58,636 $2,832 1.85%

2021 saw Highland Homeloans place emphasis on $200k-400k loans with 555 originations, totaling $176,385,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 365 $129,925,000 $355,959 $7,162 2.96%
$150k-250k 298 $116,970,000 $392,517 $7,644 2.95%
$75k-100k 129 $40,185,000 $311,512 $6,805 2.94%
$50k-75k 79 $19,435,000 $246,013 $5,933 2.89%
$250k+ 69 $29,945,000 $433,986 $7,943 2.93%
$50k or less 14 $2,030,000 $145,000 $5,284 2.88%

Highland Homeloans lent most frequently to those with incomes in the $100k-150k range, with 365 originations. The second most popular income band? $150k-250k, with 298 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 221 $77,115,000 $348,937 $6,893 2.92%
30-36% 207 $76,935,000 $371,667 $7,511 2.99%
<20% 73 $23,715,000 $324,863 $7,298 2.84%
42% 45 $15,895,000 $353,222 $7,953 2.99%
38% 45 $17,275,000 $383,889 $7,848 2.99%
43% 42 $13,910,000 $331,190 $7,053 2.92%
40% 42 $15,740,000 $374,762 $7,553 2.92%
36% 39 $12,995,000 $333,205 $6,156 2.96%
39% 35 $12,435,000 $355,286 $6,825 2.88%
37% 35 $12,425,000 $355,000 $7,544 2.98%
44% 31 $10,635,000 $343,065 $6,463 2.99%
41% 28 $10,270,000 $366,786 $7,090 3.02%
45% 25 $8,505,000 $340,200 $6,460 3.06%
46% 23 $8,035,000 $349,348 $7,063 2.92%
47% 21 $8,045,000 $383,095 $7,688 2.90%
49% 19 $6,725,000 $353,947 $7,558 2.96%
48% 15 $5,585,000 $372,333 $6,808 2.88%
50-60% 8 $2,250,000 $281,250 $6,439 2.78%

Highland Homeloans lent most frequently to those with DTI ratios of 20-30%, with 221 originations. The next most common DTI ratio? 30-36%, with 207 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 588 $208,780,000 $355,068 $7,227 2.96%
Asian 114 $42,650,000 $374,123 $7,370 2.89%
Not provided 123 $41,675,000 $338,821 $6,999 2.93%
Black 89 $31,745,000 $356,685 $7,091 3.00%
Asian Indian 19 $7,445,000 $391,842 $7,312 2.81%
Filipino 6 $1,850,000 $308,333 $7,766 2.98%
Vietnamese 5 $1,435,000 $287,000 $6,540 2.83%
American Indian 4 $1,160,000 $290,000 $6,338 2.72%
Other Asian 2 $690,000 $345,000 $6,409 3.37%
Chinese 2 $390,000 $195,000 $4,712 2.56%
Native Hawaiian 1 $345,000 $345,000 $6,238 2.88%
Korean 1 $325,000 $325,000 $6,394 2.63%

Approval Rates

Total approvals of all applications
98.55%

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
86.13%

Highland Homeloans has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 954 $338,490,000 $354,811

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
954 $338,490,000 $354,811

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 43 $6,345,000 $147,558 $4,846 2.71%
40-60% 82 $23,340,000 $284,634 $6,217 2.71%
60-80% 315 $113,335,000 $359,794 $7,107 2.95%
80-100% 506 $195,010,000 $385,395 $7,672 3.02%
Under 20% 8 $460,000 $57,500 $2,356 1.38%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HIGHLANDS RESIDENTIAL MORTGAGE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 27.3%
HIGHLANDS RESIDENTIAL MORTGAGE Conventional home mortgage Closing on a mortgage 1 9.1%
HIGHLANDS RESIDENTIAL MORTGAGE Conventional home mortgage Trouble during payment process 4 36.4%
HIGHLANDS RESIDENTIAL MORTGAGE FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
HIGHLANDS RESIDENTIAL MORTGAGE FHA mortgage Trouble during payment process 1 9.1%
HIGHLANDS RESIDENTIAL MORTGAGE VA mortgage Struggling to pay mortgage 1 9.1%