Kemba Financial Mortgage Rates, Fees & Info
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Mortgage Data
Review & 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 by origination volume include: Columbus, Bellefontaine, Urbana, Cleveland, and Mount Vernon among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)Kemba Financial has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Kemba Financial is typically a low 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 | 6.90% | 4/21/24 |
| 30 Year Conventional Refi | 6.58% | 4/21/24 |
| 30 Year Cash-out Refi | 6.63% | 4/21/24 |
| 30 Year FHA Purchase | 7.68% | 4/21/24 |
| 15 Year Conventional Purchase | 5.95% | 4/21/24 |
| 15 Year Conventional Refi | 5.90% | 4/21/24 |
| 15 Year Cash-out Refi | 5.90% | 4/21/24 |
| 15 Year FHA Purchase | 5.68% | 4/21/24 |
| 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. | ||
Kemba Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,491Origination Dollar Volume (All Markets)
$135,245,000Awards
KEMBA FINANCIAL - 2019
KEMBA FINANCIAL is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 1,364 | $124,140,000 | $91,012 | $2,029 | 5.14% |
| Bellefontaine, OH (FHA|USDA|VA) | 52 | $3,860,000 | $74,231 | $1,553 | 5.03% |
| Urbana, OH (FHA|USDA|VA) | 9 | $815,000 | $90,556 | $1,201 | 5.30% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $3,329 | 4.90% |
| Mount Vernon, OH (FHA|USDA|VA) | 8 | $600,000 | $75,000 | $1,432 | 5.03% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,782 | 3.93% |
| Outside of Metro Areas | 6 | $480,000 | $80,000 | $2,541 | 4.97% |
| Marion, OH (FHA|USDA|VA) | 5 | $465,000 | $93,000 | $3,257 | 5.54% |
| Jackson, OH (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,136 | 4.44% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $2,359 | 3.96% |
| MANSFIELD, OH (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $1,963 | 3.96% |
| TOLEDO, OH (FHA|USDA|VA) | 5 | $335,000 | $67,000 | $1,018 | 4.87% |
| Washington Court House, OH (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $1,880 | 4.31% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,371 | 3.50% |
| LIMA, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,797 | 3.38% |
| Zanesville, OH (FHA|USDA|VA) | 4 | $220,000 | $55,000 | $802 | 5.74% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $1,603 | 3.94% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $3,270 | 4.56% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,827 | 3.88% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,041 | 3.50% |
| Chillicothe, OH (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $1,900 | 5.25% |
| Sidney, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,198 | 4.63% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 6.62% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.74% |
| Salem, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $375 | 3.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.74% |
| Norwalk, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $625 | 3.38% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.24% |
| Cambridge, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.24% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.74% |
Similar Lenders
We use machine learning to identify the top lenders compared against KEMBA FINANCIAL 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 |
|---|---|---|---|---|---|
| HELOC | 828 | $44,340,000 | $53,551 | n/a | 5.94% |
| Conventional | 663 | $90,905,000 | $137,112 | $2,013 | 4.11% |
For 2019, Kemba Financial's most frequently originated type of loan was HELOC, with 828 originations. Their 2nd most popular type was Conventional, with 663 originations.
Loan Reason
For 2019, Kemba Financial's most frequently cited loan purpose was Cash Out Refi, with 613 originations. The 2nd most popular reason was Other, with 379 originations.
Loan Duration/Length
For 2019, Kemba Financial's most frequently cited loan duration was 20 Year, with 841 originations. The 2nd most popular length was 15 Year, with 205 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 329 | $30,535,000 | $92,812 |
| $1k-2k | 198 | $39,290,000 | $198,434 |
| $2k-3k | 17 | $5,335,000 | $313,824 |
| $3k-4k | 3 | $1,045,000 | $348,333 |
Kemba Financial's average total fees were $3,078, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 329 originations.
Interest Rates
During 2019, Kemba Financial's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 455 originations.
Loan Sizing
2019 saw Kemba Financial place emphasis on $100,000 or less loans with 1,002 originations, totaling $48,400,000 in origination value.
Applicant Income
Kemba Financial lent most frequently to those with incomes in the $100k-150k range, with 387 originations. The second most popular income band? $75k-100k, with 347 originations.
Applicant Debt to Income Ratio
Kemba Financial lent most frequently to those with DTI ratios of 20-30%, with 364 originations. The next most common DTI ratio? 30-36%, with 342 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.13%
Kemba Financial has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination78.14%
Kemba Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 3 | $125,000 | $41,667 |
| NA | 1,488 | $135,120,000 | $90,806 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $280,000 | $70,000 |
| Single Family (1-4 Units):Site-Built | 1,487 | $134,965,000 | $90,763 |