Kemba Financial Mortgage Rates, Fees & Info

Gahanna, OH

LEI: 549300Y6FMTOZSY0VW06

Tax ID: 31-6034826

5 stars - out of 5 stars, based on 43 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

1,872

Origination Dollar Volume (All Markets)

$214,160,000

Awards

KEMBA FINANCIAL 30 Year Conventional Loans silver KEMBA FINANCIAL 30 Year Conventional Loans bronze
Show all (2) awards

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 applications
68.86%

Kemba Financial has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
77.59%

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%