Synergy Home Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300Y6YKK2XPSFJO71
Tax ID: 81-4919190
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Mortgage Data
Review & Overview
Synergy Home Mortgage is a smaller mortgage company specializing in Refi and Home Purchase loans. Synergy Home Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Reno, Fernley, Carson City, Gardnerville Ranchos, and Las Vegas among others. We have data for 15 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.75% | 5/4/24 |
| 30 Year Conventional Refi | 6.61% | 5/4/24 |
| 30 Year Cash-out Refi | 6.82% | 5/4/24 |
| 30 Year FHA Purchase | 7.49% | 5/4/24 |
| 30 Year VA Purchase | 6.46% | 5/4/24 |
| 15 Year Conventional Purchase | 5.67% | 5/4/24 |
| 15 Year Conventional Refi | 5.86% | 5/4/24 |
| 15 Year Cash-out Refi | 5.86% | 5/4/24 |
| 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. | ||
Synergy Home Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
629Origination Dollar Volume (All Markets)
$198,955,000Top 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 |
|---|---|---|---|---|---|
| RENO, NV (FHA|USDA|VA) | 543 | $175,465,000 | $323,140 | $3,957 | 3.16% |
| Fernley, NV (FHA|USDA|VA) | 32 | $6,410,000 | $200,313 | $4,506 | 2.77% |
| CARSON CITY, NV (FHA|USDA|VA) | 16 | $4,640,000 | $290,000 | $4,175 | 3.18% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $4,035 | 3.50% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 6 | $1,940,000 | $323,333 | $3,092 | 3.27% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 5 | $1,855,000 | $371,000 | $4,381 | 3.00% |
| Fallon, NV (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $5,742 | 3.62% |
| Outside of Metro Areas | 4 | $1,140,000 | $285,000 | $5,272 | 3.62% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $6,789 | 3.16% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $6,450 | 2.56% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $3,692 | 3.50% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $5,726 | 2.99% |
| Elko, NV (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,849 | 3.38% |
| Winnemucca, NV (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,696 | 3.63% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,449 | 3.25% |
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.
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Product Mix
For 2020, Synergy Home Mortgage's most frequently originated type of loan was Conventional, with 556 originations. Their 2nd most popular type was VA, with 41 originations.
Loan Reason
For 2020, Synergy Home Mortgage's most frequently cited loan purpose was Refi, with 270 originations. The 2nd most popular reason was Home Purchase, with 263 originations.
Loan Duration/Length
For 2020, Synergy Home Mortgage's most frequently cited loan duration was 30 Year, with 533 originations. The 2nd most popular length was 15 Year, with 43 originations.
Origination Fees/Closing Costs
Synergy Home Mortgage's average total fees were $4,305, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 424 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 322 | $103,730,000 | $322,143 |
| 2.5-3% | 235 | $79,885,000 | $339,936 |
| <2.5% | 43 | $6,245,000 | $145,233 |
| 4-5% | 25 | $8,145,000 | $325,800 |
| 5-6% | 4 | $950,000 | $237,500 |
During 2020, Synergy Home Mortgage's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 322 originations.
Loan Sizing
2020 saw Synergy Home Mortgage place emphasis on $200k-400k loans with 390 originations, totaling $114,500,000 in origination value.
Applicant Income
Synergy Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 142 originations. The second most popular income band? $50k-75k, with 142 originations.
Applicant Debt to Income Ratio
Synergy Home Mortgage lent most frequently to those with DTI ratios of 30-36%, with 122 originations. The next most common DTI ratio? 20-30%, with 117 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.16%
Synergy Home Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination83.15%
Synergy Home Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 629 | $198,955,000 | $316,304 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 13 | $2,195,000 | $168,846 |
| Single Family (1-4 Units):Site-Built | 616 | $196,760,000 | $319,416 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SYNERGY ONE LENDING, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 33.3% |
| SYNERGY ONE LENDING, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 11.1% |
| SYNERGY ONE LENDING, INC. | Conventional home mortgage | Trouble during payment process | 1 | 11.1% |
| SYNERGY ONE LENDING, INC. | FHA mortgage | Closing on a mortgage | 1 | 11.1% |
| SYNERGY ONE LENDING, INC. | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
| SYNERGY ONE LENDING, INC. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
| SYNERGY ONE LENDING, INC. | VA mortgage | Closing on a mortgage | 1 | 11.1% |