We compare mortgage interest rate and loan related closing costs at Home Solution Lenders Inc with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.09%)
Loan Related Closing Costs: similar to average (+$176)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Home Solution Lenders Inc originated 411 mortgages, a national market share of 0.0%. It was primarily active in FL, with a 0.1% market share.
On average, Home Solution Lenders Inc’s interest rates were lower than those of comparable mortgages at other lenders (-0.09%).1The comparable mortgages control for Home Solution Lenders 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 $5944, which was similar to those of comparable mortgages at $5768, with a difference of +$176. Overall, we estimate that Home Solution Lenders Inc tends to be an cheap lender, with a cost-adjusted-rate difference of -0.07% 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 Home Solution Lenders Inc.
Home Solution Lenders Inc originated Conforming and FHA 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 Home Solution Lenders Inc compared to other lenders
|Interest Rate Difference||+0.07%||-0.20%|
|Loan related Closing Cost Difference||-$140||+$416|
|Cost Adjusted Rate Difference||+0.06%||-0.17%|
Based on the table above, Home Solution Lenders Inc is cheap for FHA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages.
Other information about Home Solution Lenders Inc:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: Bartow, FL, 33830