Highland Homeloans Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300XJN2FXJNUZ8F52
Tax ID: 26-3249727
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
954Origination Dollar Volume (All Markets)
$338,490,000Relative 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 applications98.55%
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 origination86.13%
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% |
