Is Land Home Financial Services Inc. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Land Home Financial Services Inc. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.08%)
Loan Related Closing Costs: higher than average (+$648)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Land Home Financial Services Inc. originated 7548 mortgages, a national market share of 0.1%. It was most active in IA (0.6% market share), MN (0.5% market share), and HI (0.5% market share).

On average, Land Home Financial Services Inc.’s interest rates were higher than those of comparable mortgages at other lenders (+0.08%).1The comparable mortgages control for Land Home Financial Services Inc.’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 $6179, which was higher than those of comparable mortgages at $5531, with a difference of +$648. Overall, we estimate that Land Home Financial Services Inc. tends to be an expensive 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. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Land Home Financial Services Inc..

Land Home Financial Services Inc. originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA 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 Land Home Financial Services Inc. compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference +0.05% +0.19% -0.10% +0.01%
Loan related Closing Cost Difference +$527 +$1135 +$316 +$160
Cost Adjusted Rate Difference +0.10% +0.30% -0.07% +0.03%

Based on the table above, Land Home Financial Services Inc. is cheap for USDA purchase mortgages. It is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages.

Mortgage Refinancing from Land Home Financial Services Inc. compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.01% -0.10% +0.08%
Loan Related Closing Cost Difference +$299 +$51 -$277
Cost Adjusted Rate Difference +0.02% -0.10% +0.07%

Based on the table above, Land Home Financial Services Inc. is cheap for FHA mortgage refinance. It is similar to other lenders for Conforming mortgage refinance. It is more expensive than other lenders for VA mortgage refinance.

Other information about Land Home Financial Services Inc.:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: CONCORD, CA, 94520
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Footnotes   [ + ]

1. The comparable mortgages control for Land Home Financial Services Inc.’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.