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 Refi, Home Improvement, and Other loans. Firstmark has a high proportion of conventional loans. Their top markets by origination volume include: San Antonio, Fredericksburg, Houston, Austin, and Brownsville 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% | 5/26/24 |
| 15 Year Conventional Purchase | 5.23% | 5/26/24 |
| 15 Year Conventional Refi | 6.51% | 5/26/24 |
| 15 Year Cash-out Refi | 6.51% | 5/26/24 |
| 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
574Origination Dollar Volume (All Markets)
$33,400,000Top 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) | 554 | $32,240,000 | $58,195 | $301 | 5.00% |
| Outside of Metro Areas | 8 | $390,000 | $48,750 | $281 | 4.93% |
| Fredericksburg, TX (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $1,197 | 4.90% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $229 | 6.48% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $202 | 4.60% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $217 | 4.60% |
| Pearsall, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $219 | 4.90% |
| Kerrville, TX (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $472 | 6.03% |
| Eagle Pass, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $247 | 4.65% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 574 | $33,400,000 | $58,188 | $305 | 5.00% |
For 2018, Firstmark's most frequently originated type of loan was Conventional, with 574 originations.
Loan Reason
For 2018, Firstmark's most frequently cited loan purpose was Refi, with 211 originations. The 2nd most popular reason was Home Improvement, with 201 originations.
Loan Duration/Length
For 2018, Firstmark's most frequently cited loan duration was 15 Year, with 173 originations. The 2nd most popular length was 10 Year, with 159 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 567 | $32,975,000 | $58,157 |
Firstmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 567 originations.
Interest Rates
During 2018, Firstmark's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 273 originations.
Loan Sizing
2018 saw Firstmark place emphasis on $100,000 or less loans with 510 originations, totaling $24,510,000 in origination value.
Applicant Income
Firstmark lent most frequently to those with incomes in the $50k-75k range, with 180 originations. The second most popular income band? $50k or less, with 143 originations.
Applicant Debt to Income Ratio
Firstmark lent most frequently to those with DTI ratios of 30-36%, with 139 originations. The next most common DTI ratio? 20-30%, with 117 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications47.43%
Firstmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination78.05%
Firstmark has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 574 | $33,400,000 | $58,188 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 574 | $33,400,000 | $58,188 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRSTBANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 33.3% |
| FIRSTBANK | Other type of mortgage | Trouble during payment process | 1 | 33.3% |
| FIRSTBANK | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |