Firstmark Mortgage Rates, Fees & Info
San Antonio, TXLEI: 254900ZPTT694OV6U433
Tax ID: 74-0879805
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Mortgage Data
Review & Overview
Firstmark is a smaller mortgage company specializing in Home Improvement, Other, and Refi loans. Firstmark has a high proportion of conventional loans. Their top markets by origination volume include: San Antonio, Pearsall, Houston, Austin, and Kerrville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Firstmark has a below average approval rate when compared to the average across all lenders. They have a below 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 |
|---|---|---|
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.23% | 11/17/24 |
| 15 Year Conventional Refi | 6.51% | 11/17/24 |
| 15 Year Cash-out Refi | 6.51% | 11/17/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
304Origination Dollar Volume (All Markets)
$19,310,000Top 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 |
|---|---|---|---|---|---|
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 292 | $18,550,000 | $63,527 | $433 | 7.72% |
| Pearsall, TX (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $650 | 7.92% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $288 | 7.81% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $470 | 7.82% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $471 | 7.14% |
| Eagle Pass, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $301 | 7.54% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $275 | 7.14% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $303 | 6.89% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $360 | 7.94% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 304 | $19,310,000 | $63,520 | $431 | 7.72% |
For 2023, Firstmark's most frequently originated type of loan was Conventional, with 304 originations.
Loan Reason
For 2023, Firstmark's most frequently cited loan purpose was Home Improvement, with 114 originations. The 2nd most popular reason was Other, with 95 originations.
Loan Duration/Length
For 2023, Firstmark's most frequently cited loan duration was 10 Year, with 75 originations. The 2nd most popular length was 20 Year, with 72 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 298 | $18,940,000 | $63,557 |
Firstmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 298 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 173 | $12,155,000 | $70,260 |
| Over 8% | 84 | $5,160,000 | $61,429 |
| 6-7% | 47 | $1,995,000 | $42,447 |
During 2023, Firstmark's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 173 originations.
Loan Sizing
2023 saw Firstmark place emphasis on $100,000 or less loans with 252 originations, totaling $11,940,000 in origination value.
Applicant Income
Firstmark lent most frequently to those with incomes in the $50k-75k range, with 77 originations. The second most popular income band? $100k-150k, with 75 originations.
Applicant Debt to Income Ratio
Firstmark lent most frequently to those with DTI ratios of 42%, with 73 originations. The next most common DTI ratio? 30-36%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications54.14%
Firstmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination67.43%
Firstmark 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 | 304 | $19,310,000 | $63,520 |