1st Franklin Financial Corporation Mortgage Rates, Fees & Info
Toccoa, GALEI: 25490092DWDTDJ002J62
Tax ID: 58-0521233
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Mortgage Data
Review & Overview
1st Franklin Financial Corporation is a smaller mortgage company specializing in Other and Home Improvement loans. 1st Franklin Financial Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Birmingham, Greenville, Morgan City, and Houma among others. We have data for 85 markets. (Some data included below & more in-depth data is available with an active subscription.)1st Franklin Financial Corporation has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 3/24/24 |
| 15 Year Conventional Refi | 19.40% | 3/24/24 |
| 15 Year Cash-out Refi | 19.40% | 3/24/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
1st Franklin Financial Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
396Origination Dollar Volume (All Markets)
$10,010,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 88 | $2,200,000 | $25,000 | $2,282 | 18.36% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 32 | $1,040,000 | $32,500 | $2,778 | 18.52% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 18 | $360,000 | $20,000 | $1,790 | 18.99% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 7 | $325,000 | $46,429 | $2,718 | 18.12% |
| Morgan City, LA (FHA|USDA|VA) | 7 | $265,000 | $37,857 | $3,078 | 18.13% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 10 | $240,000 | $24,000 | $2,079 | 18.69% |
| Albertville, AL (FHA|USDA|VA) | 13 | $235,000 | $18,077 | $1,783 | 18.45% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 7 | $205,000 | $29,286 | $2,107 | 18.56% |
| SPARTANBURG, SC (FHA|USDA|VA) | 5 | $205,000 | $41,000 | $2,276 | 18.19% |
| Meridian, MS (FHA|USDA|VA) | 9 | $195,000 | $21,667 | $2,136 | 18.39% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 5 | $195,000 | $39,000 | $2,774 | 17.99% |
| Alexander City, AL (FHA|USDA|VA) | 11 | $185,000 | $16,818 | $1,992 | 18.36% |
| GADSDEN, AL (FHA|USDA|VA) | 7 | $175,000 | $25,000 | $2,297 | 18.56% |
| DECATUR, AL (FHA|USDA|VA) | 10 | $170,000 | $17,000 | $1,123 | 19.29% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 7 | $165,000 | $23,571 | $3,017 | 17.99% |
| Atmore, AL (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $3,264 | 17.99% |
| LAFAYETTE, LA (FHA|USDA|VA) | 5 | $155,000 | $31,000 | $2,906 | 19.39% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 5 | $145,000 | $29,000 | $2,282 | 18.59% |
| KNOXVILLE, TN (FHA|USDA|VA) | 4 | $140,000 | $35,000 | $2,002 | 17.99% |
| BATON ROUGE, LA (FHA|USDA|VA) | 5 | $135,000 | $27,000 | $2,670 | 18.59% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 7 | $115,000 | $16,429 | $1,813 | 18.56% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 8 | $100,000 | $12,500 | $1,456 | 19.49% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $2,185 | 17.99% |
| Enterprise, AL (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $1,630 | 18.99% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 5 | $85,000 | $17,000 | $1,897 | 19.18% |
| Americus, GA (FHA|USDA|VA) | 5 | $85,000 | $17,000 | $2,367 | 19.19% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $1,465 | 19.66% |
| Jefferson, GA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $2,914 | 18.49% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 3 | $75,000 | $25,000 | $2,225 | 18.66% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 3 | $75,000 | $25,000 | $1,278 | 19.32% |
| Cullman, AL (FHA|USDA|VA) | 5 | $75,000 | $15,000 | $1,359 | 18.79% |
| Union, SC (FHA|USDA|VA) | 3 | $75,000 | $25,000 | $1,786 | 19.33% |
| Gaffney, SC (FHA|USDA|VA) | 3 | $75,000 | $25,000 | $2,339 | 18.66% |
| MONTGOMERY, AL (FHA|USDA|VA) | 4 | $70,000 | $17,500 | $2,619 | 18.23% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $3,558 | 18.00% |
| Opelousas, LA (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $3,762 | 17.99% |
| Cedartown, GA (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $2,021 | 19.65% |
| Cordele, GA (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $1,166 | 19.99% |
| LaGrange, GA-AL (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $2,611 | 17.98% |
| Ozark, AL (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $4,519 | 18.48% |
| Scottsboro, AL (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $1,754 | 18.99% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 3 | $55,000 | $18,333 | $2,364 | 18.35% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,199 | 22.01% |
| ALBANY, GA (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $3,644 | 20.00% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $3,695 | 17.99% |
| Laurel, MS (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $3,397 | 17.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $3,642 | 18.00% |
| Troy, AL (FHA|USDA|VA) | 3 | $45,000 | $15,000 | $1,523 | 19.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 3 | $45,000 | $15,000 | $1,418 | 18.66% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,682 | 18.99% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $45,000 | $15,000 | $1,922 | 18.60% |
| Greeneville, TN (FHA|USDA|VA) | 3 | $45,000 | $15,000 | $2,133 | 18.66% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,181 | 17.98% |
| Moultrie, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,386 | 18.98% |
| Newport, TN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,248 | 17.99% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,066 | 17.99% |
| Minden, LA (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $2,985 | 17.99% |
| Starkville, MS (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $942 | 19.91% |
| Tupelo, MS (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $1,072 | 18.49% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,044 | 21.99% |
| Brookhaven, MS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $3,714 | 16.84% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $2,964 | 18.99% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $2,990 | 18.00% |
| ROME, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,679 | 17.99% |
| Greenwood, MS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,362 | 17.15% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $2,656 | 17.99% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $2,898 | 17.99% |
| Dayton, TN (FHA|USDA|VA) | 2 | $30,000 | $15,000 | $1,608 | 19.49% |
| Jasper, AL (FHA|USDA|VA) | 2 | $30,000 | $15,000 | $2,318 | 17.98% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,237 | 18.99% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $3,002 | 19.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,739 | 17.99% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,506 | 17.99% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,370 | 17.99% |
| Fort Payne, AL (FHA|USDA|VA) | 3 | $25,000 | $8,333 | $802 | 19.32% |
| McComb, MS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,761 | 18.05% |
| Columbus, MS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $3,932 | 17.99% |
| DOTHAN, AL (FHA|USDA|VA) | 2 | $20,000 | $10,000 | $767 | 20.98% |
| Thomaston, GA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,876 | 17.98% |
| DeRidder, LA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $2,191 | 18.99% |
| Douglas, GA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,386 | 18.98% |
| Fort Polk South, LA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,957 | 18.99% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,272 | 17.99% |
| Grenada, MS (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $2,477 | 17.99% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $3,557 | 17.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 396 | $10,010,000 | $25,278 | $2,248 | 18.59% |
For 2020, 1st Franklin Financial Corporation's most frequently originated type of loan was Conventional, with 396 originations.
Loan Reason
For 2020, 1st Franklin Financial Corporation's most frequently cited loan purpose was Other, with 216 originations. The 2nd most popular reason was Home Improvement, with 110 originations.
Loan Duration/Length
For 2020, 1st Franklin Financial Corporation's most frequently cited loan duration was Other, with 179 originations. The 2nd most popular length was 10 Year, with 95 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 396 | $10,010,000 | $25,278 |
During 2020, 1st Franklin Financial Corporation's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 396 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 396 | $10,010,000 | $25,278 | $2,248 | 18.59% |
2020 saw 1st Franklin Financial Corporation place emphasis on $100,000 or less loans with 396 originations, totaling $10,010,000 in origination value.
Applicant Income
1st Franklin Financial Corporation lent most frequently to those with incomes in the $50k or less range, with 305 originations. The second most popular income band? $50k-75k, with 57 originations.
Applicant Debt to Income Ratio
1st Franklin Financial Corporation lent most frequently to those with DTI ratios of 50-60%, with 96 originations. The next most common DTI ratio? 20-30%, with 70 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications64.23%
1st Franklin Financial Corporation has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination95.45%
1st Franklin Financial Corporation has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 396 | $10,010,000 | $25,278 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 150 | $2,500,000 | $16,667 |
| Single Family (1-4 Units):Site-Built | 246 | $7,510,000 | $30,528 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 1st Franklin Financial Corporation | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |