Kemba Financial Mortgage Rates, Fees & Info
Gahanna, OHLEI: 549300Y6FMTOZSY0VW06
Tax ID: 31-6034826
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Mortgage Data
Overview
Kemba Financial is a smaller mortgage company specializing in Cash Out Refi loans. Kemba Financial has a high proportion of conventional loans. Their top markets include Columbus, Bellefontaine, Mount Vernon, Toledo, and Cincinnati among others. Kemba Financial has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Kemba Financial is typically a low fee lendor.Originations
1,872Origination Dollar Volume (All Markets)
$214,160,000Awards
KEMBA FINANCIAL - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Kemba Financial's average 30 year fixed rate mortgage of loans were
3.34%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.19%.
Relative Fees
Kemba Financial's average total fees for a 30 year fixed rate
mortgage are $2,786.
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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 1,670 | $190,640,000 | $114,156 | $2,281 | 3.34% |
| Bellefontaine, OH (FHA|USDA|VA) | 55 | $5,445,000 | $99,000 | $2,431 | 3.09% |
| Mount Vernon, OH (FHA|USDA|VA) | 23 | $2,245,000 | $97,609 | $2,288 | 3.35% |
| TOLEDO, OH (FHA|USDA|VA) | 12 | $1,420,000 | $118,333 | $3,071 | 3.35% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 11 | $1,195,000 | $108,636 | $2,433 | 3.57% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 8 | $980,000 | $122,500 | $2,620 | 2.98% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $4,247 | 3.31% |
| Urbana, OH (FHA|USDA|VA) | 10 | $960,000 | $96,000 | $1,814 | 4.28% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 6 | $880,000 | $146,667 | $2,530 | 3.33% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $3,230 | 3.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 7 | $685,000 | $97,857 | $2,517 | 2.70% |
| Outside of Metro Areas | 5 | $665,000 | $133,000 | $2,755 | 2.88% |
| Zanesville, OH (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $2,952 | 3.45% |
| Marion, OH (FHA|USDA|VA) | 7 | $465,000 | $66,429 | $2,249 | 3.73% |
| Greeneville, TN (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,776 | 2.56% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $7,070 | 3.25% |
| Jackson, OH (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,653 | 3.00% |
| MANSFIELD, OH (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $2,411 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,014 | 2.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,755 | 3.06% |
| Chillicothe, OH (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $1,838 | 3.44% |
| Findlay, OH (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $2,101 | 3.46% |
| Athens, OH (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $2,741 | 2.96% |
| Ashland, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.25% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,120 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,755 | 2.88% |
| Washington Court House, OH (FHA|USDA|VA) | 4 | $230,000 | $57,500 | $2,520 | 3.81% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $2,154 | 2.81% |
| AKRON, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,457 | 3.63% |
| Sidney, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,961 | 3.00% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,296 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,618 | 3.50% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,531 | 3.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.25% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,228 | 3.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,090 | 2.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,727 | 3.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,581 | 3.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.75% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,449 | 3.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,053 | 3.75% |
| Norwalk, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,755 | 3.88% |
| LIMA, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.74% |
Kemba Financial's top markets include Columbus, Bellefontaine, Mount Vernon, Toledo, and Cincinnati among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,867 | $212,915,000 | $114,041 | $2,308 | 3.33% |
| VA | 5 | $1,245,000 | $249,000 | $6,014 | 2.88% |
For the 2021 period, Kemba Financial's most frequently originated loan type of loans were Conventional, with 1,867 originations. Their 2nd most popular type is VA, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 745 | $111,015,000 | $149,013 | $2,245 | 3.03% |
| Home Improvement | 487 | $30,125,000 | $61,858 | $1,642 | 3.78% |
| Other | 310 | $23,180,000 | $74,774 | $2,172 | 3.77% |
| Refi | 196 | $25,350,000 | $129,337 | $2,130 | 2.84% |
| Home Purchase | 134 | $24,490,000 | $182,761 | $3,110 | 3.09% |
For the 2021, Kemba Financial's most frequently cited loan purpose of loans were Cash Out Refi, with 745 originations. The 2nd most popular reason of loans were Home Improvement, with 487 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 957 | $67,635,000 | $70,674 | $2,438 | 3.78% |
| 15 Year | 375 | $57,135,000 | $152,360 | $2,199 | 2.60% |
| 30 Year | 340 | $63,630,000 | $187,147 | $2,786 | 3.34% |
| Other | 121 | $17,585,000 | $145,331 | $1,891 | 2.34% |
| 10 Year | 79 | $8,175,000 | $103,481 | $1,545 | 2.90% |
For the 2021, Kemba Financial's most frequently cited loan length of loans were 20 Year, with 957 originations. The 2nd most popular length of loans were 15 Year, with 375 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 849 | $137,065,000 | $161,443 |
| $1k-2k | 102 | $14,500,000 | $142,157 |
| $2k-3k | 9 | $2,645,000 | $293,889 |
| $3k-4k | 6 | $1,010,000 | $168,333 |
| $5k+ | 1 | $185,000 | $185,000 |
$2,786 of loans were Kemba Financial's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 849 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 912 | $90,590,000 | $99,331 |
| <2.5% | 357 | $51,775,000 | $145,028 |
| 2.5-3% | 313 | $52,965,000 | $169,217 |
| 4-5% | 232 | $16,480,000 | $71,034 |
| 5-6% | 52 | $2,080,000 | $40,000 |
| 6-7% | 5 | $235,000 | $47,000 |
| 7-8% | 1 | $35,000 | $35,000 |
During 2021, Kemba Financial's average interest rate of loans were 3.34%, while their most frequently originated rate bucket of loans were 3-4%, with 912 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 975 | $51,995,000 | $53,328 | $1,943 | 3.61% |
| $100k-200k | 623 | $88,615,000 | $142,239 | $2,279 | 3.04% |
| $200k-400k | 257 | $65,235,000 | $253,833 | $2,732 | 3.01% |
| $400k-600k | 15 | $6,875,000 | $458,333 | $3,682 | 2.97% |
| $600k-1MM | 2 | $1,440,000 | $720,000 | $2,697 | 2.75% |
2021 saw Kemba Financial place emphasis on $100,000 or less loans with 975 originations, totaling $51,995,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 499 | $62,875,000 | $126,002 | $2,365 | 3.37% |
| $50k-75k | 421 | $41,455,000 | $98,468 | $2,326 | 3.33% |
| $75k-100k | 370 | $40,380,000 | $109,135 | $2,258 | 3.35% |
| $150k-250k | 258 | $36,190,000 | $140,271 | $2,519 | 3.39% |
| $50k or less | 257 | $21,465,000 | $83,521 | $2,210 | 3.17% |
| $250k+ | 52 | $10,580,000 | $203,462 | $2,684 | 3.27% |
Kemba Financial lent most frequently to those with incomes in the $100k-150k range, with 499 originations. The second most popular income band? $50k-75k, with 421 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 487 | $56,505,000 | $116,027 | $2,326 | 3.24% |
| 30-36% | 377 | $41,515,000 | $110,119 | $2,269 | 3.31% |
| <20% | 156 | $15,510,000 | $99,423 | $2,060 | 3.07% |
| 40% | 87 | $11,455,000 | $131,667 | $2,329 | 3.50% |
| 44% | 80 | $11,300,000 | $141,250 | $2,452 | 3.31% |
| 37% | 79 | $8,835,000 | $111,835 | $2,528 | 3.56% |
| 41% | 78 | $9,680,000 | $124,103 | $2,338 | 3.39% |
| 39% | 74 | $7,830,000 | $105,811 | $2,397 | 3.57% |
| 36% | 70 | $8,070,000 | $115,286 | $2,263 | 3.46% |
| 38% | 69 | $7,935,000 | $115,000 | $2,428 | 3.64% |
| 42% | 68 | $9,040,000 | $132,941 | $2,547 | 3.49% |
| 43% | 67 | $7,865,000 | $117,388 | $2,346 | 3.27% |
| 45% | 42 | $4,290,000 | $102,143 | $2,210 | 3.47% |
| 46% | 32 | $3,040,000 | $95,000 | $2,624 | 3.54% |
| 48% | 31 | $3,355,000 | $108,226 | $2,497 | 3.32% |
| 50-60% | 26 | $2,670,000 | $102,692 | $2,018 | 3.09% |
| 47% | 23 | $2,585,000 | $112,391 | $2,827 | 3.31% |
| 49% | 21 | $1,955,000 | $93,095 | $2,465 | 3.34% |
| >60% | 5 | $725,000 | $145,000 | $2,944 | 3.25% |
Kemba Financial lent most frequently to those with DTI ratios of 20-30%, with 487 originations. The next most common DTI ratio? 30-36%, with 377 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,472 | $169,270,000 | $114,993 | $2,322 | 3.34% |
| Black | 233 | $24,545,000 | $105,343 | $2,317 | 3.38% |
| Not provided | 122 | $15,010,000 | $123,033 | $2,355 | 3.12% |
| Asian | 23 | $3,555,000 | $154,565 | $2,850 | 3.55% |
| Not applicable | 15 | $1,215,000 | $81,000 | $0 | 3.76% |
| American Indian | 4 | $260,000 | $65,000 | $1,045 | 3.38% |
| Native Hawaiian | 2 | $180,000 | $90,000 | $2,151 | 2.50% |
| Other Asian | 1 | $125,000 | $125,000 | $2,458 | 3.00% |
Approval Rates
Total approvals of all applications68.86%
Kemba Financial has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination77.59%
Kemba Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,872 | $214,160,000 | $114,402 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,872 | $214,160,000 | $114,402 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 401 | $33,745,000 | $84,152 | $1,811 | 3.43% |
| 40-60% | 306 | $42,240,000 | $138,039 | $2,125 | 2.91% |
| 60-80% | 463 | $80,655,000 | $174,201 | $2,422 | 2.97% |
| 80-100% | 156 | $33,590,000 | $215,321 | $2,915 | 3.04% |
| Under 20% | 546 | $23,930,000 | $43,828 | $894 | 3.89% |
