Is Shamrock Home Loans a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Shamrock Home Loans to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Shamrock Home Loans nationally:
|Review Item||Shamrock Home Loans|
|Interest Rate||higher than other lenders (+0.10%)|
|Loan Related Closing Costs||similar to other lenders (-$26)|
|National Rate and Closing Cost Star Rating||(3)|
On average, Shamrock Home Loans’s interest rates were higher than those of other lenders (+0.10%) for a comparable set of borrowers. On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of -$26. Overall, combining interest rates and closing costs we estimate that Shamrock Home Loans tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars. To visit Shamrock Home Loans, its website is located at: https://www.shamrockhomeloans.com.
Shamrock Home Loans’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Shamrock Home Loans was most active in:
You can click through to check out Shamrock Home Loans’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.
Shamrock Home Loans’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Shamrock Home Loans originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
|New Purchase Mortgages||Conforming||FHA||USDA||VA|
|Interest Rate Difference||+0.08%||+0.19%||-0.00%||+0.01%|
|Loan Related Closing Cost Difference||+$194||+$185||-$5||-$95|
|Cost Adjusted Rate Difference||+0.10%||+0.20%||-0.00%||+0.00%|
|National Star Rating|
|Interest Rate Difference||+0.06%||+0.05%||+0.00%|
|Loan Related Closing Cost Difference||-$123||-$857||-$389|
|Cost Adjusted Rate Difference||+0.05%||-0.00%||-0.02%|
|Average Star Rating|
As a summary, Shamrock Home Loans is similar to other lenders for USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages. For refinancing mortgages, Shamrock Home Loans is similar to other lenders for FHA and VA mortgage refinance. It is more expensive than other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Shamrock Home Loans:
Registered city and state: EAST PROVIDENCE, RI, 02916
Regulator: United States Department of Housing and Urban Development (HUD)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Shamrock Home Loans’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.