We compare mortgage interest rate and loan related closing costs at Equitable Home Mortgage Inc with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.12%)
Loan Related Closing Costs: similar to average (-$37)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Equitable Home Mortgage Inc originated 415 mortgages, a national market share of 0.0%. It was most active in AZ (0.2% market share), CA (0.0% market share), and ID (0.0% market share).
On average, Equitable Home Mortgage Inc’s interest rates were lower than those of comparable mortgages at other lenders (-0.12%).1The comparable mortgages control for Equitable Home Mortgage 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 $4502, which was similar to those of comparable mortgages at $4539, with a difference of -$37. Overall, we estimate that Equitable Home Mortgage Inc tends to be an cheap lender, with a cost-adjusted-rate difference of -0.12% 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 Equitable Home Mortgage Inc.
Equitable Home Mortgage Inc originated Conforming 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 Equitable Home Mortgage Inc compared to other lenders
|Interest Rate Difference||-0.12%|
|Loan related Closing Cost Difference||-$37|
|Cost Adjusted Rate Difference||-0.12%|
Based on the table above, Equitable Home Mortgage Inc is cheap for Conforming purchase mortgages.
Other information about Equitable Home Mortgage Inc:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: SCOTTSDALE, AZ, 85251