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We analyzed every closed loan from Homestead Funding — 4.7k loans across 6k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Strong
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo · USDA
Place
Strong
National · 31 mkts
Safe Rate Awards💎Conventional Champion💎FHA Champion💎VA Champion⭐Jumbo Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Competitive pricing compared to the market
- Lower than average lender fees
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
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Report Card
Homestead Funding Corp. performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Highly Competitive +9.6 bps above market avg | |
Pull Through Closing strength | Market Leader Top 20% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Market Leader Top 20% of lenders | |
Jumbo | Highly Competitive Top 40% of lenders | |
USDA | Highly Competitive Top 40% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders National32 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 3,704 | 78.9% | +0.055%Above | $1,522Fees | ||||
FHA Loans | 719 | 15.3% | +0.489%Above | $1,252Fees | ||||
VA Loans | 221 | 4.7% | -0.211%Below | $1,096Fees | ||||
Jumbo Loans | 27 | 0.6% | -0.435%Below | $257Fees | ||||
USDA Loans | — | 26 | 0.6% | +0.446%Above | $297Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 4,488 | 95.6% | +0.104%Above | $1,470Fees | ||||
Refinance | 209 | 4.4% | -0.033%Below | $1,465Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
4,697
Applications
5,652
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+0.096%
vs. market APOR
Avg Net Fees
$1,470
Origination − Credits
Pullthrough Rate
83.1%
Applications → Closed
Typical Borrower
Avg Loan Amount
$295,145
Avg Borrower Income
$132,662
Avg Property Value
$362,926
Geographic Coverage
Geographic Performance
Metro Areas
31
States Served
42
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
ALARAZCACOCTDCDEFLGAIAIDILINKSKYLAMAMDMEMIMNMTNCNHNJNMNYOHOKORPARISCSDTNTXVAVTWAWIWY
Top Metro Areas by Place Specialization Score
1
Binghamton, NY, NYMSA
Volume: 347Mix: 7.39%of portfolio
Place
Exceptional2
Norwich, CTMSA
Volume: 167Mix: 3.56%of portfolio
Place
Exceptional3
Albany, NYMSA
Volume: 1,321Mix: 28.12%of portfolio
Place
Exceptional4
Glens Falls, NY, NYMSA
Volume: 169Mix: 3.60%of portfolio
Place
Exceptional5
Kingston, NY, NYMSA
Volume: 127Mix: 2.70%of portfolio
Place
Exceptional6
Kiryas Joel, NYMSA
Volume: 271Mix: 5.77%of portfolio
Place
Exceptional7
Utica, NYMSA
Volume: 147Mix: 3.13%of portfolio
Place
Exceptional8
Watertown, NYMSA
Volume: 78Mix: 1.66%of portfolio
Place
Exceptional9
Syracuse, NY, NYMSA
Volume: 191Mix: 4.07%of portfolio
Place
Strong10
Buffalo, NYMSA
Volume: 217Mix: 4.62%of portfolio
Place
StrongShowing 10 of 31 metro areas
Top States by Place Specialization Score
1
NYState
Volume: 3,576Mix: 76.13%of portfolio
Place
Exceptional2
CTState
Volume: 358Mix: 7.62%of portfolio
Place
Strong3
PAState
Volume: 158Mix: 3.36%of portfolio
Place
Strong4
MAState
Volume: 131Mix: 2.79%of portfolio
Place
Strong5
NCState
Volume: 86Mix: 1.83%of portfolio
Place
Sound6
FLState
Volume: 85Mix: 1.81%of portfolio
Place
Sound7
WIState
Volume: 29Mix: 0.62%of portfolio
Place
Sound8
TNState
Volume: 27Mix: 0.57%of portfolio
Place
Sound9
SCState
Volume: 24Mix: 0.51%of portfolio
Place
Sound10
NJState
Volume: 21Mix: 0.45%of portfolio
Place
SoundShowing 10 of 18 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.