Synergy Home Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300Y6YKK2XPSFJO71

Tax ID: 81-4919190

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Synergy Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. Synergy Home Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Reno, Fernley, Carson City, Las Vegas, and Gardnerville Ranchos among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Synergy Home Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Synergy Home Mortgage 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    375

    Origination Dollar Volume (All Markets)

    $111,835,000

    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
    RENO, NV (FHA|USDA|VA) 342 $103,860,000 $303,684 $4,346 4.20%
    Fernley, NV (FHA|USDA|VA) 18 $3,830,000 $212,778 $4,224 3.98%
    CARSON CITY, NV (FHA|USDA|VA) 6 $1,720,000 $286,667 $3,862 4.75%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $775,000 $258,333 $3,991 3.87%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 2 $770,000 $385,000 $4,620 3.94%
    Fallon, NV (FHA|USDA|VA) 2 $440,000 $220,000 $5,566 5.31%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,879 4.38%
    Outside of Metro Areas 1 $185,000 $185,000 $2,444 3.88%
    Synergy Home Mortgage's top markets include Reno, Fernley, Carson City, Las Vegas, and Gardnerville Ranchos among others.

    Their top states include:
  • Nevada (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SYNERGY HOME MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ONE NEVADA CREDIT UNION
    Similarity Rank: 168
    Great Basin Federal Credit Union
    Similarity Rank: 360
    Fremont Bank
    Similarity Rank: 972
    STAR ONE CREDIT UNION
    Similarity Rank: 1160
    BAY-VALLEY MORTGAGE GROUP
    Similarity Rank: 1269
    SYNERGY HOME MORTGAGE, LLC
    Similarity Rank: 1624
    Eagle Home Mortgage of CA
    Similarity Rank: 4002
    Zions Bank
    Similarity Rank: 4020
    City National Bank
    Similarity Rank: 4026
    INTERNATIONAL CITY MORTGAGE, INC.
    Similarity Rank: 4494

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 322 $95,220,000 $295,714 $3,676 4.15%
    FHA 32 $9,290,000 $290,313 $8,709 4.77%
    VA 21 $7,325,000 $348,810 $7,706 4.17%

    For 2019, Synergy Home Mortgage's most frequently originated type of loan was Conventional, with 322 originations. Their 2nd most popular type was FHA, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 241 $73,035,000 $303,050 $4,703 4.24%
    Cash Out Refi 67 $20,055,000 $299,328 $4,225 4.51%
    Refi 62 $18,620,000 $300,323 $3,340 3.97%
    Other 5 $125,000 $25,000 $140 1.40%

    For 2019, Synergy Home Mortgage's most frequently cited loan purpose was Home Purchase, with 241 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 331 $104,335,000 $315,211 $4,623 4.44%
    15 Year 19 $4,615,000 $242,895 $3,195 2.99%
    3 Year 13 $115,000 $8,846 $6 0.75%
    20 Year 7 $1,825,000 $260,714 $3,758 4.11%
    Other 3 $935,000 $311,667 $2,361 3.96%
    5 Year 2 $10,000 $5,000 $0 0.00%

    For 2019, Synergy Home Mortgage's most frequently cited loan duration was 30 Year, with 331 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 244 $76,300,000 $312,705
    $2k-3k 41 $11,755,000 $286,707
    $<1k 30 $3,090,000 $103,000
    $3k-4k 29 $9,155,000 $315,690
    $5k+ 16 $6,530,000 $408,125
    $4k-5k 15 $5,005,000 $333,667

    Synergy Home Mortgage's average total fees were $4,623, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 244 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 167 $52,065,000 $311,766
    3-4% 140 $44,470,000 $317,643
    5-6% 37 $10,235,000 $276,622
    <2.5% 17 $165,000 $9,706
    6-7% 13 $4,415,000 $339,615
    2.5-3% 1 $485,000 $485,000

    During 2019, Synergy Home Mortgage's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 4-5%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 241 $71,095,000 $295,000 $4,671 4.37%
    $400k-600k 56 $25,710,000 $459,107 $5,151 4.35%
    $100k-200k 45 $7,175,000 $159,444 $3,235 4.52%
    $100,000 or less 23 $505,000 $21,957 $360 1.27%
    $600k-1MM 10 $7,350,000 $735,000 $5,629 4.72%

    2019 saw Synergy Home Mortgage place emphasis on $200k-400k loans with 241 originations, totaling $71,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 110 $25,240,000 $229,455 $4,162 3.95%
    $75k-100k 80 $23,470,000 $293,375 $4,397 4.05%
    $100k-150k 70 $22,890,000 $327,000 $4,958 4.45%
    $150k-250k 54 $21,520,000 $398,519 $4,213 4.48%
    $50k or less 32 $6,240,000 $195,000 $3,469 4.29%
    $250k+ 24 $10,440,000 $435,000 $4,543 4.26%

    Synergy Home Mortgage lent most frequently to those with incomes in the $50k-75k range, with 110 originations. The second most popular income band? $75k-100k, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $22,915,000 $332,101 $3,912 4.19%
    30-36% 57 $17,035,000 $298,860 $4,407 4.26%
    <20% 50 $9,890,000 $197,800 $2,466 3.02%
    44% 22 $7,050,000 $320,455 $5,157 4.85%
    36% 18 $5,730,000 $318,333 $5,503 4.42%
    43% 17 $5,115,000 $300,882 $4,639 4.30%
    48% 17 $4,595,000 $270,294 $4,452 4.41%
    46% 17 $4,915,000 $289,118 $5,270 4.54%
    42% 15 $5,495,000 $366,333 $5,016 4.45%
    37% 15 $3,625,000 $241,667 $3,755 4.62%
    40% 15 $4,765,000 $317,667 $5,706 4.31%
    39% 14 $4,610,000 $329,286 $4,340 4.47%
    38% 13 $3,985,000 $306,538 $4,209 4.39%
    49% 10 $3,450,000 $345,000 $4,430 4.37%
    41% 9 $2,955,000 $328,333 $6,315 4.76%
    50-60% 8 $2,590,000 $323,750 $7,043 4.84%
    47% 5 $1,505,000 $301,000 $3,745 4.04%
    45% 3 $1,185,000 $395,000 $3,714 4.21%
    >60% 1 $425,000 $425,000 $3,272 3.50%

    Synergy Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 326 $96,570,000 $296,227 $4,334 4.20%
    Not provided 28 $9,090,000 $324,643 $4,411 4.28%
    Asian 11 $3,195,000 $290,455 $4,154 3.92%
    Black 5 $1,415,000 $283,000 $3,536 3.85%
    American Indian 3 $985,000 $328,333 $5,590 4.32%
    Native Hawaiian or Islander 2 $580,000 $290,000 $3,909 5.88%

    Approval Rates

    Total approvals of all applications
    96.56%

    Synergy Home Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    81.33%

    Synergy Home Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 375 $111,835,000 $298,227

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $1,090,000 $136,250
    Single Family (1-4 Units):Site-Built 367 $110,745,000 $301,757

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $570,000 $142,500 $3,014 3.84%
    40-60% 37 $9,795,000 $264,730 $3,434 4.16%
    60-80% 93 $29,255,000 $314,570 $3,727 4.38%
    80-100% 110 $37,280,000 $338,909 $4,891 4.55%
    Over 100% 3 $1,235,000 $411,667 $12,638 4.04%
    Under 20% 16 $370,000 $23,125 $376 1.58%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 37.5%
    SYNERGY ONE LENDING, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 3 37.5%