Semper Home Loans Mortgage Interest Rate and Cost Review

Is Semper 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 Semper Home Loans to those of other lenders for a comparable set of borrowers. Here is our review of Semper Home Loans nationally:

Review ItemSemper Home Loans
Interest Ratesimilar to other lenders (+0.06%)
Loan Related Closing Costshigher than other lenders (+$348)
National Rate and Closing Cost Star Rating(3)

On average, Semper Home Loans’s interest rates were similar to those of other lenders (+0.06%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$348. Overall, combining interest rates and closing costs we estimate that Semper Home Loans tends to be an average cost 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 Semper Home Loans, check out its website at: https://semperhomeloans.com.

Semper Home Loans’s Rate Review by City

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

  1. Providence, RI
  2. Stamford, CT
  3. Boston, MA
  4. Miami, FL
  5. San Antonio, TX

Semper 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, Semper 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference+0.11%+0.09%-0.00%+0.01%
Loan Related Closing Cost Difference+$559+$555+$55+$247
Cost Adjusted Rate Difference+0.15%+0.13%+0.00%+0.02%
National Star Rating(3)(3)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference+0.08%-0.01%-0.01%
Loan Related Closing Cost Difference+$165+$96-$57
Cost Adjusted Rate Difference+0.09%-0.00%-0.02%
Average Star Rating(3)(3.5)(3.5)

As a summary, Semper 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, Semper 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 Semper Home Loans:

Registered name: Semper Home Loans, Inc
Registered city and state: Providence, RI, 02907
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 Semper 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.