Is Lrs Financial Network Dba Hnb Mortgage An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Lrs Financial Network Dba Hnb Mortgage with other lenders for mortgages with similar borrower characteristics:

Interest Rate: lower than average (-0.10%)
Loan Related Closing Costs: similar to average (-$129)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Lrs Financial Network Dba Hnb Mortgage originated 625 mortgages, a national market share of 0.0%. It was primarily active in TX (0.1% market share) and NM (0.0% market share).

On average, Lrs Financial Network Dba Hnb Mortgage’s interest rates were lower than those of comparable mortgages at other lenders (-0.10%).1The comparable mortgages control for Lrs Financial Network Dba Hnb Mortgage’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 $5047, which was similar to those of comparable mortgages at $5176, with a difference of -$129. Overall, we estimate that Lrs Financial Network Dba Hnb Mortgage tends to be an cheap lender, with a cost-adjusted-rate difference of -0.11% 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 Lrs Financial Network Dba Hnb Mortgage.

Lrs Financial Network Dba Hnb Mortgage originated Conforming and FHA 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 Lrs Financial Network Dba Hnb Mortgage compared to other lenders

Conforming FHA
Interest Rate Difference -0.04% -0.38%
Loan related Closing Cost Difference -$118 -$74
Cost Adjusted Rate Difference -0.05% -0.40%

Based on the table above, Lrs Financial Network Dba Hnb Mortgage is cheap for Conforming and FHA purchase mortgages.

Mortgage Refinancing from Lrs Financial Network Dba Hnb Mortgage compared to other lenders

Conforming
Interest Rate Difference -0.13%
Loan Related Closing Cost Difference -$285
Cost Adjusted Rate Difference -0.14%

Based on the table above, Lrs Financial Network Dba Hnb Mortgage is cheap for Conforming mortgage refinance.

Other information about Lrs Financial Network Dba Hnb Mortgage:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Midland, TX, 79705

Footnotes   [ + ]

1. The comparable mortgages control for Lrs Financial Network Dba Hnb Mortgage’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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