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 and Refi loans. Firstmark has a high proportion of conventional loans. Their top markets by origination volume include: San Antonio, Dallas, Fredericksburg, Pearsall, and Eagle Pass among others. We have data for 13 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% | 11/21/24 |
| 15 Year Conventional Purchase | 5.23% | 11/21/24 |
| 15 Year Conventional Refi | 6.51% | 11/21/24 |
| 15 Year Cash-out Refi | 6.51% | 11/21/24 |
| 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. | ||
Firstmark Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
434Origination Dollar Volume (All Markets)
$28,150,000Top 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) | 413 | $26,375,000 | $63,862 | $142 | 4.08% |
| Outside of Metro Areas | 3 | $295,000 | $98,333 | $256 | 4.40% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 3.35% |
| Fredericksburg, TX (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $950 | 3.68% |
| Pearsall, TX (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 3.98% |
| Eagle Pass, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,427 | 3.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $175 | 4.04% |
| WACO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.60% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.35% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.30% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.55% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.44% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.44% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 434 | $28,150,000 | $64,862 | $149 | 4.07% |
For 2021, Firstmark's most frequently originated type of loan was Conventional, with 434 originations.
Loan Reason
For 2021, Firstmark's most frequently cited loan purpose was Home Improvement, with 181 originations. The 2nd most popular reason was Refi, with 147 originations.
Loan Duration/Length
For 2021, Firstmark's most frequently cited loan duration was 10 Year, with 121 originations. The 2nd most popular length was Other, with 101 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 396 | $25,820,000 | $65,202 |
Firstmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 396 originations.
Interest Rates
During 2021, Firstmark's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 246 originations.
Loan Sizing
2021 saw Firstmark place emphasis on $100,000 or less loans with 363 originations, totaling $17,965,000 in origination value.
Applicant Income
Firstmark lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $50k or less, with 102 originations.
Applicant Debt to Income Ratio
Firstmark lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications60.82%
Firstmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination63.59%
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 | 434 | $28,150,000 | $64,862 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 10 | 29.4% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | FHA mortgage | Closing on a mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 6 | 17.6% |
| FIRST HORIZON BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 2.9% |