Fm Home Loans Mortgage Rates, Fees & Info

Brooklyn, NY

LEI: 254900ACUWEGW702BR80

Tax ID: 02-0594137

1 stars - out of 5 stars, based on 75 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: New York, Miami, Bridgeport, Poughkeepsie, and Los Angeles among others. We have data for 55 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 a high 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 about average 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 7.06% 11/26/22
    30 Year Conventional Refi 7.25% 11/26/22
    30 Year FHA Purchase 7.45% 11/26/22
    30 Year FHA Refi 6.98% 11/26/22
    30 Year VA Purchase 6.62% 11/26/22
    30 Year VA Refi 6.71% 11/26/22
    15 Year Conventional Purchase 6.14% 11/26/22
    15 Year Conventional Refi 6.40% 11/26/22
    15 Year Cash-out Refi 6.40% 11/26/22
    15 Year VA Refi 6.38% 11/26/22
    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.


    Originations

    5,621

    Origination Dollar Volume (All Markets)

    $3,062,435,000

    Awards

    FM Home Loans FHA Loans gold FM Home Loans FHA Loans silver
    Show all (2) awards

    Relative Rate

    Fm Home Loans's average 30 year fixed mortgage rate was 3.33%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.18%.

    Relative Fees (Closing Costs)

    Fm Home Loans's average total fees/closing costs for a 30 year fixed rate mortgage were $8,425.

    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 $4,750.

    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) 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.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • 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.

    N C P D Federal Credit Union
    Similarity Rank: 102
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    Schuyler Savings Bank
    Similarity Rank: 352
    Christian Community Credit Union
    Similarity Rank: 354
    POLISH NATIONAL
    Similarity Rank: 376
    First Credit Union
    Similarity Rank: 378
    Louviers Federal Credit Union
    Similarity Rank: 410
    Sanborn Mortgage Corporation
    Similarity Rank: 435
    MID-HUDSON VALLEY
    Similarity Rank: 448
    POINT BREEZE
    Similarity Rank: 477

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Fm Home Loans's most frequently originated type of loan was Conventional, with 5,478 originations. Their 2nd most popular type was FHA, with 137 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Fm Home Loans's most frequently cited loan purpose was Home Purchase, with 3,061 originations. The 2nd most popular reason was 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 2021, Fm Home Loans's most frequently cited loan duration was 30 Year, with 5,307 originations. The 2nd most popular length was 15 Year, with 197 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,203 $1,610,955,000 $502,952
    $5k+ 1,457 $1,021,765,000 $701,280
    $2k-3k 371 $157,365,000 $424,164
    $3k-4k 304 $136,240,000 $448,158
    $4k-5k 284 $135,000,000 $475,352

    Fm Home Loans's average total fees were $8,425, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.33%, while their most frequently originated rate bucket for loans was 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 or Islander 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 Hawaiian 1 $425,000 $425,000 $10,164 3.00%

    Approval Rates

    Total approvals of all applications
    99.16%

    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 origination
    61.98%

    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%