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, Refi, and Other loans. Firstmark has a high proportion of conventional loans. Their top markets by origination volume include: San Antonio, Austin, Killeen, Fredericksburg, and Mcallen among others. We have data for 11 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% | 5/14/24 |
| 15 Year Conventional Purchase | 5.23% | 5/14/24 |
| 15 Year Conventional Refi | 6.51% | 5/14/24 |
| 15 Year Cash-out Refi | 6.51% | 5/14/24 |
| 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
483Origination Dollar Volume (All Markets)
$37,885,000Top 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) | 463 | $36,355,000 | $78,521 | $307 | 4.86% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $721 | 4.70% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 4 | $270,000 | $67,500 | $388 | 4.84% |
| Fredericksburg, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $663 | 4.68% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $563 | 5.97% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $758 | 4.72% |
| Outside of Metro Areas | 2 | $130,000 | $65,000 | $123 | 4.72% |
| Pearsall, TX (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 5.97% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.50% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.15% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 3.60% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 483 | $37,885,000 | $78,437 | $312 | 4.86% |
For 2022, Firstmark's most frequently originated type of loan was Conventional, with 483 originations.
Loan Reason
For 2022, Firstmark's most frequently cited loan purpose was Home Improvement, with 199 originations. The 2nd most popular reason was Refi, with 154 originations.
Loan Duration/Length
For 2022, Firstmark's most frequently cited loan duration was 15 Year, with 133 originations. The 2nd most popular length was 10 Year, with 122 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 449 | $35,535,000 | $79,143 |
Firstmark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 449 originations.
Interest Rates
During 2022, Firstmark's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 168 originations.
Loan Sizing
2022 saw Firstmark place emphasis on $100,000 or less loans with 368 originations, totaling $19,840,000 in origination value.
Applicant Income
Firstmark lent most frequently to those with incomes in the $50k-75k range, with 145 originations. The second most popular income band? $100k-150k, with 107 originations.
Applicant Debt to Income Ratio
Firstmark lent most frequently to those with DTI ratios of 30-36%, with 90 originations. The next most common DTI ratio? 42%, with 79 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications60.46%
Firstmark has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination74.33%
Firstmark has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 483 | $37,885,000 | $78,437 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |