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HOMESTEAD FUNDING CORP.
Independent Mortgage Company|ALBANY, NY|National
Loans Originated
4,697
Applications
5,652
Volume
$1 billion
Offers loans directly to consumers
Overall Pricing
Strong
Overall Pull Through
Exceptional
Safe Rate Awards💎Conventional Champion💎FHA Champion💎VA Champion⭐Jumbo Superstar⭐Purchase Superstar⭐Refinance Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.096%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$1,470
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
83.1%
Percentage of applications that result in closed loans
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
Report Card
HOMESTEAD FUNDING CORP. performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Strong | Highly Competitive | |
Pull Through Closing Strength | Exceptional | Market Leader | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Exceptional | Market Leader | |
FHA | Exceptional | Market Leader | |
VA | Exceptional | Market Leader | |
Jumbo | Strong | Highly Competitive | |
USDA | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Exceptional | Market Leader | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | National · 32 metro areas · 42 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$295,145
Average Borrower Income
$132,662
Average Property Value
$362,926
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Exceptional | Exceptional | Strong | Exceptional | 3,704 | 78.9% | +0.055% | $1,522 |
FHA Loans | Exceptional | Exceptional | Strong | Exceptional | 719 | 15.3% | +0.489% | $1,252 |
VA Loans | Exceptional | Exceptional | Strong | Exceptional | 221 | 4.7% | -0.211% | $1,096 |
Jumbo Loans | Strong | Strong | Exceptional | Strong | 27 | 0.6% | -0.435% | $257 |
USDA Loans | Strong | Strong | N/A | Strong | 26 | 0.6% | +0.446% | $297 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Strong | Exceptional | Strong | Strong | 4,488 | 95.6% | +0.104% | $1,470 |
Refinance | Strong | Strong | Strong | Strong | 209 | 4.4% | -0.033% | $1,465 |
Geographic Coverage
Metro Areas
31
States Served
42
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
ALARAZCACOCTDCDEFLGAIAIDILINKSKYLAMAMDMEMIMNMTNCNHNJNMNYOHOKORPARISCSDTNTXVAVTWAWIWY
Top Metro Areas by Place Specialization Score
1
Binghamton, NY, NYMSA
Volume: 347Mix: 7.39%
Place Specialization
Exceptional
2
Norwich, CTMSA
Volume: 167Mix: 3.56%
Place Specialization
Exceptional
3
Albany, NYMSA
Volume: 1,321Mix: 28.12%
Place Specialization
Exceptional
4
Glens Falls, NY, NYMSA
Volume: 169Mix: 3.60%
Place Specialization
Exceptional
5
Kingston, NY, NYMSA
Volume: 127Mix: 2.70%
Place Specialization
Exceptional
6
Kiryas Joel, NYMSA
Volume: 271Mix: 5.77%
Place Specialization
Exceptional
7
Utica, NYMSA
Volume: 147Mix: 3.13%
Place Specialization
Exceptional
8
Watertown, NYMSA
Volume: 78Mix: 1.66%
Place Specialization
Exceptional
9
Syracuse, NY, NYMSA
Volume: 191Mix: 4.07%
Place Specialization
Strong
10
Buffalo, NYMSA
Volume: 217Mix: 4.62%
Place Specialization
Strong
Showing 10 of 31 metro areas
Top States by Place Specialization Score
1
NYState
Volume: 3,576Mix: 76.13%
Place Specialization
Exceptional
2
CTState
Volume: 358Mix: 7.62%
Place Specialization
Strong
3
PAState
Volume: 158Mix: 3.36%
Place Specialization
Strong
4
MAState
Volume: 131Mix: 2.79%
Place Specialization
Strong
5
NCState
Volume: 86Mix: 1.83%
Place Specialization
Sound
6
FLState
Volume: 85Mix: 1.81%
Place Specialization
Sound
7
WIState
Volume: 29Mix: 0.62%
Place Specialization
Sound
8
TNState
Volume: 27Mix: 0.57%
Place Specialization
Sound
9
SCState
Volume: 24Mix: 0.51%
Place Specialization
Sound
10
NJState
Volume: 21Mix: 0.45%
Place Specialization
Sound
Showing 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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