Is Shelter Home Mortgage, Llc An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Shelter Home Mortgage, Llc with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (+0.01%)
Loan Related Closing Costs: higher than average (+$554)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Shelter Home Mortgage, Llc originated 1179 mortgages, a national market share of 0.0%. It was most active in GA (0.5% market share), NC (0.0% market share), and SC (0.0% market share).

On average, Shelter Home Mortgage, Llc’s interest rates were similar to those of comparable mortgages at other lenders (+0.01%).1The comparable mortgages control for Shelter Home Mortgage, Llc’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 $4971, which was higher than those of comparable mortgages at $4417, with a difference of +$554. Overall, we estimate that Shelter Home Mortgage, Llc tends to be an expensive lender, with a cost-adjusted-rate difference of +0.05% 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. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Shelter Home Mortgage, Llc.

Shelter Home Mortgage, Llc originated Conforming, FHA, Jumbo and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. 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 Shelter Home Mortgage, Llc compared to other lenders

Conforming FHA Jumbo VA
Interest Rate Difference -0.00% +0.04% +0.04% +0.17%
Loan related Closing Cost Difference +$524 +$618 +$559 +$940
Cost Adjusted Rate Difference +0.04% +0.09% +0.05% +0.21%

Based on the table above, Shelter Home Mortgage, Llc is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for FHA, Jumbo and VA purchase mortgages.

Mortgage Refinancing from Shelter Home Mortgage, Llc compared to other lenders

Conforming
Interest Rate Difference +0.02%
Loan Related Closing Cost Difference +$567
Cost Adjusted Rate Difference +0.08%

Based on the table above, Shelter Home Mortgage, Llc is more expensive than other lenders for Conforming mortgage refinance.

Other information about Shelter Home Mortgage, Llc:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: PLYMOUTH MEETING, PA, 19462

Footnotes   [ + ]

1. The comparable mortgages control for Shelter Home Mortgage, Llc’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.
2. Cost 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.

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