Investors Home Mortgage-ihm Rates, Fees & Info
Millburn, NJLEI: 549300Y6FZ3K9OD86C55
Tax ID: 22-1368780
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Mortgage Data
Review & Overview
Investors Home Mortgage-ihm is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Their top (well, only) market is New York.Investors Home Mortgage-ihm has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Investors Home Mortgage-ihm is typically a high 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.
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Originations
3Origination Dollar Volume (All Markets)
$855,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $9,371 | 4.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Investors Home Mortgage-IHM 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 |
|---|---|---|---|---|---|
| FHA | 3 | $855,000 | $285,000 | $9,371 | 4.75% |
For 2019, Investors Home Mortgage-ihm's most frequently originated type of loan was FHA, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 3 | $855,000 | $285,000 | $9,371 | 4.75% |
For 2019, Investors Home Mortgage-ihm's most frequently cited loan purpose was Home Purchase, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3 | $855,000 | $285,000 | $9,371 | 4.75% |
For 2019, Investors Home Mortgage-ihm's most frequently cited loan duration was 30 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 3 | $855,000 | $285,000 |
Investors Home Mortgage-ihm's average total fees were $9,371, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 3 | $855,000 | $285,000 |
During 2019, Investors Home Mortgage-ihm's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 3 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 2 | $670,000 | $335,000 | $10,562 | 4.69% |
| $100k-200k | 1 | $185,000 | $185,000 | $6,988 | 4.88% |
2019 saw Investors Home Mortgage-ihm place emphasis on $200k-400k loans with 2 originations, totaling $670,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $75k-100k | 2 | $670,000 | $335,000 | $10,562 | 4.69% |
| $50k-75k | 1 | $185,000 | $185,000 | $6,988 | 4.88% |
Investors Home Mortgage-ihm lent most frequently to those with incomes in the $75k-100k range, with 2 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 41% | 1 | $295,000 | $295,000 | $9,594 | 4.50% |
| 42% | 1 | $185,000 | $185,000 | $6,988 | 4.88% |
| 44% | 1 | $375,000 | $375,000 | $11,531 | 4.88% |
Investors Home Mortgage-ihm lent most frequently to those with DTI ratios of 41%, with 1 originations. The next most common DTI ratio? 42%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2 | $480,000 | $240,000 | $8,291 | 4.69% |
| Black | 1 | $375,000 | $375,000 | $11,531 | 4.88% |
Approval Rates
Total approvals of all applications82.96%
Investors Home Mortgage-ihm has a below average approval rate.
Pick Rate
Approvals leading to origination-2,833.33%
Investors Home Mortgage-ihm has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3 | $855,000 | $285,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 3 | $855,000 | $285,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 80-100% | 3 | $855,000 | $285,000 | $9,371 | 4.75% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| IMPAC MORTGAGE HOLDINGS, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 14.3% |
| IMPAC MORTGAGE HOLDINGS, INC. | Conventional home mortgage | Closing on a mortgage | 3 | 14.3% |
| IMPAC MORTGAGE HOLDINGS, INC. | Conventional home mortgage | Struggling to pay mortgage | 2 | 9.5% |
| IMPAC MORTGAGE HOLDINGS, INC. | Conventional home mortgage | Trouble during payment process | 13 | 61.9% |