Fm Home Loans Mortgage Rates, Fees & Info
Brooklyn, NYLEI: 254900ACUWEGW702BR80
Tax ID: 02-0594137
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Mortgage Data
Review & Overview
Fm Home Loans is a small 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 by origination volume include: New York, Miami, Poughkeepsie, Philadelphia, and Orlando among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)Fm Home Loans has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fm Home Loans is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.26% | 7/13/25 |
| 30 Year Conventional Refi | 7.77% | 7/13/25 |
| 30 Year FHA Purchase | 7.36% | 7/13/25 |
| 30 Year FHA Refi | 7.11% | 7/13/25 |
| 30 Year VA Purchase | 6.91% | 7/13/25 |
| 15 Year Conventional Purchase | 6.31% | 7/13/25 |
| 15 Year Conventional Refi | 6.76% | 7/13/25 |
| 15 Year Cash-out Refi | 6.76% | 7/13/25 |
| 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. | ||
Fm Home Loans Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Fm Home Loans. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,644Origination Dollar Volume (All Markets)
$1,049,270,000Relative Rate
Fm Home Loans's average 30 year fixed mortgage rate was
7.15%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.6%.
Relative Fees (Closing Costs)
Fm Home Loans's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,305.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1,156 | $784,260,000 | $678,426 | $9,103 | 7.09% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 161 | $113,555,000 | $705,311 | $10,566 | 7.11% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 83 | $40,475,000 | $487,651 | $7,702 | 7.20% |
| Outside of Metro Areas | 82 | $36,860,000 | $449,512 | $7,529 | 7.24% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 28 | $10,120,000 | $361,429 | $7,929 | 7.24% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 14 | $8,150,000 | $582,143 | $10,189 | 7.42% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 6 | $5,670,000 | $945,000 | $15,177 | 7.31% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 5 | $3,895,000 | $779,000 | $19,983 | 8.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 13 | $3,595,000 | $276,538 | $0 | 7.14% |
| KINGSTON, NY (FHA|USDA|VA) | 9 | $3,125,000 | $347,222 | $12,887 | 8.18% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $3,125,000 | $1,041,667 | $23,627 | 8.37% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $3,095,000 | $442,143 | $19,936 | 7.61% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 9 | $2,945,000 | $327,222 | $4,842 | 7.53% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $2,600,000 | $650,000 | $19,074 | 8.06% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $2,255,000 | $751,667 | $17,337 | 6.50% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $1,905,000 | $1,905,000 | $8,840 | 7.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $1,640,000 | $820,000 | $11,380 | 8.25% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,635,000 | $545,000 | $4,869 | 6.54% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $0 | 8.88% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $1,400,000 | $700,000 | $4,953 | 7.13% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $3,999 | 7.46% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $1,215,000 | $1,215,000 | $0 | 7.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $6,721 | 6.90% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $0 | 8.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $4,811 | 6.81% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $6,875 | 6.87% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $0 | 7.88% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $9,837 | 6.62% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $6,435 | 7.18% |
| PITTSFIELD, MA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $11,190 | 7.25% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $6,835 | 7.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $5,038 | 6.50% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $10,293 | 6.99% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $4,653 | 6.93% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,537 | 7.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,358 | 8.50% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,040 | 6.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,962 | 7.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $8,165 | 7.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,581 | 6.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 7.38% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 7.88% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,306 | 7.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,660 | 6.99% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,628 | 6.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 6.99% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 8.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,570 | 5.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.63% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,795 | 8.63% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against FM Home Loans based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2024, Fm Home Loans's most frequently originated type of loan was Conventional, with 1,597 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
For 2024, Fm Home Loans's most frequently cited loan purpose was Home Purchase, with 1,171 originations. The 2nd most popular reason was Refi, with 471 originations.
Loan Duration/Length
For 2024, Fm Home Loans's most frequently cited loan duration was 30 Year, with 1,611 originations. The 2nd most popular length was 5 Year, with 18 originations.
Origination Fees/Closing Costs
Fm Home Loans's average total fees were $9,305, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 527 originations.
Interest Rates
During 2024, Fm Home Loans's average interest rate for loans was 7.15%, while their most frequently originated rate bucket for loans was 6-7%, with 742 originations.
Loan Sizing
2024 saw Fm Home Loans place emphasis on $400k-600k loans with 480 originations, totaling $236,560,000 in origination value.
Applicant Income
Fm Home Loans lent most frequently to those with incomes in the $250k+ range, with 481 originations. The second most popular income band? $150k-250k, with 362 originations.
Applicant Debt to Income Ratio
Fm Home Loans lent most frequently to those with DTI ratios of 30-36%, with 69 originations. The next most common DTI ratio? 20-30%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.92%
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 origination45.32%
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 | 1,644 | $1,049,270,000 | $638,242 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,644 | $1,049,270,000 | $638,242 |