Hallmark Home Mortgage Interest Rate and Cost Review

Is Hallmark Home Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Hallmark Home Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Hallmark Home Mortgage nationally:

Review ItemHallmark Home Mortgage
Interest Ratehigher than other lenders (+0.10%)
Loan Related Closing Costshigher than other lenders (+$287)
National Rate and Closing Cost Star Rating(3)

On average, Hallmark Home Mortgage’s interest rates were higher than those of other lenders (+0.10%). Its loan related closing costs were also higher than those of other lenders, with a difference of +$287. Overall, combining interest rates and closing costs we estimate that Hallmark Home Mortgage tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Hallmark Home Mortgage, check out its website at: https://www.hallmarkhomemortgage.com.

Hallmark Home Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Hallmark Home Mortgage was most active in:

  1. Indianapolis, IN
  2. Fort Wayne, IN
  3. South Bend, IN
  4. Columbus, IN
  5. Lafayette, IN

Hallmark Home Mortgage’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, Hallmark Home Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.13%+0.11%+0.03%+0.03%+0.03%
Loan Related Closing Cost Difference+$317+$422-$73+$189+$151
Cost Adjusted Rate Difference+0.16%+0.16%+0.03%+0.05%+0.04%
National Star Rating(2.5)(2.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.10%+0.02%+0.01%+0.01%-0.01%
Loan Related Closing Cost Difference+$105+$17-$59-$1-$89
Cost Adjusted Rate Difference+0.11%+0.02%+0.01%+0.01%-0.01%
Average Star Rating(3)(3.5)(3.5)(3.5)(3.5)

As a summary, Hallmark Home Mortgage is similar to other lenders for Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages. For refinancing, Hallmark Home Mortgage is similar to other lenders for FHA, Jumbo, USDA 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 Hallmark Home Mortgage:

Registered name: Hallmark Home Mortgage
Registered city and state: Fort Wayne, IN, 46825
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 Hallmark Home 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 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.