We compare mortgage interest rate and loan related closing costs at HomeAmerican Mortgage Corp. with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (+0.01%)
Loan Related Closing Costs: lower than average (-$2817)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, HomeAmerican Mortgage Corp. originated 3761 mortgages, a national market share of 0.1%. It was most active in NV (0.8% market share), CO (0.7% market share), and AZ (0.3% market share).
On average, HomeAmerican Mortgage Corp.’s interest rates were similar to those of comparable mortgages at other lenders (+0.01%).1The comparable mortgages control for HomeAmerican Mortgage Corp.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3218, which was lower than those of comparable mortgages at $6035, with a difference of -$2817. Overall, we estimate that HomeAmerican Mortgage Corp. tends to be an cheap lender, with a cost-adjusted-rate difference of -0.14% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with HomeAmerican Mortgage Corp..
HomeAmerican Mortgage Corp. originated Conforming, FHA, Jumbo and VA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from HomeAmerican Mortgage Corp. compared to other lenders
|Interest Rate Difference||+0.09%||-0.21%||+0.04%||-0.09%|
|Loan related Closing Cost Difference||-$2878||-$3305||-$3585||-$1986|
|Cost Adjusted Rate Difference||-0.06%||-0.39%||-0.07%||-0.20%|
Based on the table above, HomeAmerican Mortgage Corp. is cheap for Conforming, FHA, Jumbo and VA purchase mortgages.
Other information about HomeAmerican Mortgage Corp.:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: DENVER, CO, 80237