Fm Home Loans Mortgage Rates, Fees & Info
Brooklyn, NYLEI: 254900ACUWEGW702BR80
Tax ID: 02-0594137
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Fm Home Loans is a mid-sized mortgage company specializing in Home Purchase and Refi loans. Fm Home Loans has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include New York, Miami, Bridgeport, Poughkeepsie, and Los Angeles among others. Fm Home Loans has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Fm Home Loans is typically a high fee lendor.Originations
5,621Origination Dollar Volume (All Markets)
$3,062,435,000Awards
FM Home Loans - 2021
FM Home Loans is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Fm Home Loans 's average 30 year fixed rate mortgage of loans were
3.33%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.18%.
Relative Fees
Fm Home Loans 's average total fees for a 30 year fixed rate
mortgage are $8,425.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4,581 | $2,580,455,000 | $563,295 | $8,484 | 3.26% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 432 | $249,700,000 | $578,009 | $8,869 | 3.58% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 94 | $48,370,000 | $514,574 | $5,846 | 3.04% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 127 | $47,625,000 | $375,000 | $8,224 | 3.27% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 16 | $14,370,000 | $898,125 | $13,254 | 3.82% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 49 | $13,455,000 | $274,592 | $4,844 | 3.15% |
| Outside of Metro Areas | 39 | $12,695,000 | $325,513 | $7,133 | 3.49% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 36 | $11,580,000 | $321,667 | $6,872 | 3.22% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 28 | $10,840,000 | $387,143 | $6,941 | 3.39% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 30 | $9,950,000 | $331,667 | $6,613 | 3.68% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 32 | $8,640,000 | $270,000 | $4,172 | 3.13% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 24 | $8,570,000 | $357,083 | $4,418 | 4.39% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $3,350,000 | $837,500 | $14,412 | 3.94% |
| KINGSTON, NY (FHA|USDA|VA) | 9 | $3,045,000 | $338,333 | $8,076 | 3.54% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $2,950,000 | $368,750 | $8,180 | 3.22% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 10 | $2,700,000 | $270,000 | $5,235 | 2.78% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $2,415,000 | $345,000 | $4,643 | 3.02% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 4 | $2,060,000 | $515,000 | $7,206 | 2.88% |
| Torrington, CT (FHA|USDA|VA) | 5 | $1,925,000 | $385,000 | $5,445 | 2.85% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 8 | $1,720,000 | $215,000 | $4,763 | 3.16% |
| Hudson, NY (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $6,169 | 3.16% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $3,720 | 3.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $1,440,000 | $360,000 | $7,516 | 3.19% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 4 | $1,410,000 | $352,500 | $9,115 | 4.13% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $1,380,000 | $690,000 | $12,406 | 4.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $5,226 | 2.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $5,652 | 2.92% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $5,878 | 3.29% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $6,533 | 3.38% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $5,039 | 3.08% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $4,568 | 3.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $8,021 | 3.04% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $6,697 | 2.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $5,460 | 3.25% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $5,606 | 3.81% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,306 | 3.06% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,519 | 3.06% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $6,793 | 4.06% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $5,165 | 3.44% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $10,761 | 4.38% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $8,053 | 2.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $4,444 | 3.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $7,811 | 3.63% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,110 | 3.38% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,149 | 3.75% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,796 | 3.44% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $12,281 | 5.00% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,082 | 3.50% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,677 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,119 | 3.13% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,949 | 3.25% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,460 | 3.63% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,072 | 3.38% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,870 | 3.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,906 | 3.38% |
Fm Home Loans 's top markets include New York, Miami, Bridgeport, Poughkeepsie, and Los Angeles among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 5,478 | $2,991,280,000 | $546,053 | $8,152 | 3.31% |
| FHA | 137 | $68,895,000 | $502,883 | $14,792 | 2.74% |
| VA | 6 | $2,260,000 | $376,667 | $10,375 | 2.65% |
For the 2021 period, Fm Home Loans 's most frequently originated loan type of loans were Conventional, with 5,478 originations. Their 2nd most popular type is FHA, with 137 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 3,061 | $1,655,865,000 | $540,956 | $7,859 | 3.22% |
| Refi | 2,560 | $1,406,570,000 | $549,441 | $8,864 | 3.38% |
For the 2021, Fm Home Loans 's most frequently cited loan purpose of loans were Home Purchase, with 3,061 originations. The 2nd most popular reason of loans were Refi, with 2,560 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5,307 | $2,935,845,000 | $553,202 | $8,425 | 3.33% |
| 15 Year | 197 | $78,835,000 | $400,178 | $6,247 | 2.59% |
| 20 Year | 80 | $32,090,000 | $401,125 | $6,742 | 2.87% |
| Other | 35 | $15,385,000 | $439,571 | $7,311 | 2.94% |
| 10 Year | 2 | $280,000 | $140,000 | $5,075 | 2.44% |
For the 2021, Fm Home Loans 's most frequently cited loan length of loans were 30 Year, with 5,307 originations. The 2nd most popular length of loans were 15 Year, with 197 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 3,203 | $1,610,955,000 | $502,952 |
| $5k+ | 1,457 | $1,021,765,000 | $701,280 |
| $3k-4k | 588 | $271,240,000 | $461,293 |
| $2k-3k | 371 | $157,365,000 | $424,164 |
$8,425 of loans were Fm Home Loans 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,203 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 2,422 | $1,366,950,000 | $564,389 |
| 2.5-3% | 2,178 | $1,090,840,000 | $500,845 |
| 4-5% | 542 | $377,400,000 | $696,310 |
| <2.5% | 380 | $157,570,000 | $414,658 |
| 5-6% | 89 | $64,965,000 | $729,944 |
| 6-7% | 9 | $4,605,000 | $511,667 |
| 7-8% | 1 | $105,000 | $105,000 |
During 2021, Fm Home Loans 's average interest rate of loans were 3.33%, while their most frequently originated rate bucket of loans were 3-4%, with 2,422 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $400k-600k | 1,931 | $948,985,000 | $491,447 | $7,486 | 3.18% |
| $200k-400k | 1,699 | $525,685,000 | $309,408 | $5,975 | 3.20% |
| $600k-1MM | 1,286 | $957,730,000 | $744,736 | $10,639 | 3.43% |
| $1MM+ | 417 | $583,615,000 | $1,399,556 | $17,119 | 3.77% |
| $100k-200k | 281 | $45,775,000 | $162,900 | $4,630 | 3.27% |
| $100,000 or less | 7 | $645,000 | $92,143 | $3,765 | 3.21% |
2021 saw Fm Home Loans place emphasis on $400k-600k loans with 1,931 originations, totaling $948,985,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1,322 | $629,410,000 | $476,104 | $7,478 | 3.11% |
| $150k-250k | 1,299 | $730,385,000 | $562,267 | $8,027 | 3.16% |
| $250k+ | 1,253 | $946,725,000 | $755,567 | $10,088 | 3.36% |
| $75k-100k | 742 | $293,350,000 | $395,350 | $6,701 | 3.04% |
| $50k or less | 527 | $312,925,000 | $593,786 | $11,113 | 4.48% |
| $50k-75k | 477 | $149,265,000 | $312,925 | $6,216 | 3.03% |
Fm Home Loans lent most frequently to those with incomes in the $100k-150k range, with 1,322 originations. The second most popular income band? $150k-250k, with 1,299 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 785 | $434,025,000 | $552,898 | $7,664 | 3.15% |
| 30-36% | 756 | $405,800,000 | $536,772 | $7,801 | 3.14% |
| <20% | 404 | $265,500,000 | $657,178 | $9,603 | 3.44% |
| 49% | 298 | $148,670,000 | $498,893 | $7,929 | 3.10% |
| 44% | 272 | $136,240,000 | $500,882 | $7,725 | 3.10% |
| 42% | 221 | $132,965,000 | $601,652 | $9,122 | 3.19% |
| 39% | 208 | $107,280,000 | $515,769 | $7,558 | 3.16% |
| 41% | 205 | $112,895,000 | $550,707 | $8,100 | 3.20% |
| 43% | 200 | $97,240,000 | $486,200 | $7,969 | 3.13% |
| 45% | 187 | $93,415,000 | $499,545 | $7,558 | 3.10% |
| 48% | 176 | $84,980,000 | $482,841 | $7,858 | 3.16% |
| 37% | 171 | $92,845,000 | $542,953 | $8,161 | 3.15% |
| 46% | 167 | $79,595,000 | $476,617 | $7,594 | 3.05% |
| 40% | 165 | $91,065,000 | $551,909 | $7,881 | 3.21% |
| 38% | 164 | $92,820,000 | $565,976 | $7,696 | 3.13% |
| 47% | 163 | $82,455,000 | $505,859 | $8,204 | 3.20% |
| 36% | 149 | $79,355,000 | $532,584 | $7,615 | 3.16% |
| 50-60% | 97 | $47,035,000 | $484,897 | $11,107 | 2.91% |
| >60% | 7 | $4,145,000 | $592,143 | $8,140 | 3.98% |
Fm Home Loans lent most frequently to those with DTI ratios of 20-30%, with 785 originations. The next most common DTI ratio? 30-36%, with 756 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4,734 | $2,585,600,000 | $546,177 | $8,165 | 3.30% |
| Not provided | 525 | $300,275,000 | $571,952 | $9,372 | 3.31% |
| Black | 191 | $88,715,000 | $464,476 | $9,313 | 3.14% |
| Asian | 120 | $61,240,000 | $510,333 | $7,760 | 3.25% |
| Asian Indian | 15 | $8,225,000 | $548,333 | $7,534 | 2.83% |
| Chinese | 10 | $6,290,000 | $629,000 | $13,027 | 3.19% |
| Other Asian | 7 | $3,395,000 | $485,000 | $8,795 | 3.02% |
| Native Hawaiian | 6 | $3,060,000 | $510,000 | $10,267 | 3.19% |
| American Indian | 6 | $3,050,000 | $508,333 | $9,032 | 3.08% |
| Filipino | 3 | $1,005,000 | $335,000 | $4,738 | 2.50% |
| Korean | 2 | $710,000 | $355,000 | $4,102 | 2.75% |
| Other Pacific Islander | 1 | $445,000 | $445,000 | $14,633 | 3.13% |
| Native Hawiian | 1 | $425,000 | $425,000 | $10,164 | 3.00% |
Approval Rates
Total approvals of all applications98.32%
Fm Home Loans has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination63.17%
Fm Home Loans has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,621 | $3,062,435,000 | $544,820 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,621 | $3,062,435,000 | $544,820 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 291 | $132,825,000 | $456,443 | $7,766 | 3.10% |
| 40-60% | 991 | $552,245,000 | $557,260 | $8,014 | 3.17% |
| 60-80% | 3,047 | $1,707,105,000 | $560,258 | $8,624 | 3.43% |
| 80-100% | 1,254 | $657,660,000 | $524,450 | $7,964 | 3.10% |
| Over 100% | 1 | $495,000 | $495,000 | $16,220 | 2.75% |
| Under 20% | 37 | $12,105,000 | $327,162 | $7,180 | 3.07% |
