First State Mortgage Services Rates, Fees & Info
MENDOTA, ILLEI: 5493000F6NFDOVVZP043
Tax ID: 41-2181683
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
First State Mortgage Services is a smaller mortgage company specializing in Home Purchase and Refi loans. First State Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Bloomington, Chicago, Milwaukee, Peoria, and Champaign among others. First State Mortgage Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First State Mortgage Services is typically an average fee lendor.Originations
3,261Origination Dollar Volume (All Markets)
$698,565,000Awards
FIRST STATE MORTGAGE SERVICES - 2021
FIRST STATE MORTGAGE SERVICES is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
First State Mortgage Services 's average 30 year fixed rate mortgage of loans were
3.08%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.07%.
Relative Fees
First State Mortgage Services 's average total fees for a 30 year fixed rate
mortgage are $3,563.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| BLOOMINGTON, IL (FHA|USDA|VA) | 1,166 | $215,390,000 | $184,726 | $2,884 | 2.98% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 806 | $201,670,000 | $250,211 | $3,949 | 2.95% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 338 | $83,680,000 | $247,574 | $2,492 | 2.94% |
| PEORIA, IL (FHA|USDA|VA) | 204 | $29,670,000 | $145,441 | $3,322 | 3.06% |
| Outside of Metro Areas | 90 | $18,430,000 | $204,778 | $3,163 | 2.97% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 51 | $9,875,000 | $193,627 | $3,572 | 2.93% |
| Grand Rapids, MN (FHA|USDA|VA) | 35 | $7,055,000 | $201,571 | $3,720 | 2.81% |
| DECATUR, IL (FHA|USDA|VA) | 47 | $6,595,000 | $140,319 | $2,934 | 2.95% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 14 | $6,420,000 | $458,571 | $6,653 | 2.80% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 26 | $6,030,000 | $231,923 | $1,983 | 2.48% |
| Whitewater, WI (FHA|USDA|VA) | 19 | $5,185,000 | $272,895 | $2,624 | 2.95% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 22 | $5,090,000 | $231,364 | $4,965 | 3.06% |
| Ottawa, IL (FHA|USDA|VA) | 32 | $4,370,000 | $136,563 | $4,805 | 3.16% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 12 | $3,690,000 | $307,500 | $5,249 | 3.02% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 8 | $3,540,000 | $442,500 | $7,869 | 2.97% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 15 | $3,465,000 | $231,000 | $2,831 | 3.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 15 | $2,815,000 | $187,667 | $2,253 | 3.53% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,785,000 | $309,444 | $3,902 | 3.07% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $2,660,000 | $332,500 | $3,284 | 2.95% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 7 | $2,615,000 | $373,571 | $3,846 | 2.73% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 10 | $2,550,000 | $255,000 | $3,861 | 2.66% |
| Beaver Dam, WI (FHA|USDA|VA) | 13 | $2,375,000 | $182,692 | $2,305 | 2.89% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 8 | $2,330,000 | $291,250 | $6,664 | 2.84% |
| MADISON, WI (FHA|USDA|VA) | 9 | $2,325,000 | $258,333 | $3,327 | 3.03% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 17 | $2,275,000 | $133,824 | $2,835 | 3.54% |
| Pontiac, IL (FHA|USDA|VA) | 16 | $2,140,000 | $133,750 | $3,928 | 3.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $2,135,000 | $305,000 | $4,022 | 2.87% |
| ROCKFORD, IL (FHA|USDA|VA) | 10 | $2,050,000 | $205,000 | $3,579 | 3.04% |
| Lincoln, IL (FHA|USDA|VA) | 16 | $2,000,000 | $125,000 | $3,244 | 3.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $2,747 | 2.80% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 9 | $1,675,000 | $186,111 | $2,467 | 3.32% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 10 | $1,460,000 | $146,000 | $2,861 | 2.96% |
| RACINE, WI (FHA|USDA|VA) | 7 | $1,415,000 | $202,143 | $1,946 | 3.21% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $1,390,000 | $695,000 | $6,984 | 2.88% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 7 | $1,365,000 | $195,000 | $2,913 | 3.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $6,279 | 2.78% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 6 | $1,330,000 | $221,667 | $3,042 | 3.15% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $5,275 | 2.90% |
| APPLETON, WI (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $5,673 | 3.16% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $6,558 | 2.54% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $5,300 | 2.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $6,600 | 3.04% |
| THE VILLAGES, FL (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $4,222 | 3.04% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $3,593 | 2.96% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $3,443 | 2.75% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $3,172 | 3.31% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $3,536 | 2.67% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $5,212 | 2.69% |
| Rochelle, IL (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $6,617 | 2.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $2,999 | 2.66% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $2,282 | 2.92% |
| LINCOLN, NE (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $7,189 | 2.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $3,359 | 2.75% |
| FOND DU LAC, WI (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $1,936 | 2.92% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $3,456 | 2.38% |
| KANKAKEE, IL (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $5,262 | 3.00% |
| Galesburg, IL (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $3,957 | 3.21% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $4,307 | 2.99% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $5,559 | 2.81% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $3,981 | 2.75% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $2,540 | 3.42% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $3,949 | 3.19% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $2,383 | 2.94% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $4,917 | 2.84% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,526 | 3.06% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $2,515 | 2.94% |
| Greenwood, MS (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,986 | 2.75% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,599 | 2.75% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,323 | 3.25% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $4,935 | 2.49% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $2,236 | 2.88% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $1,052 | 2.88% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $1,758 | 2.69% |
| TULSA, OK (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,289 | 3.25% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,890 | 2.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,456 | 2.75% |
| Manitowoc, WI (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $5,009 | 3.00% |
| Holland, MI (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,086 | 2.75% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,944 | 2.13% |
| RENO, NV (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,812 | 2.25% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,274 | 3.13% |
| COLUMBIA, MO (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $1,732 | 3.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,101 | 2.88% |
| Jacksonville, IL (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $2,862 | 3.04% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,312 | 3.25% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $0 | 3.71% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $8,435 | 2.50% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,281 | 2.99% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,570 | 2.49% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,451 | 2.75% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,228 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,388 | 3.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,876 | 2.88% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 3.81% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,974 | 2.63% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,219 | 2.88% |
| IOWA CITY, IA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,376 | 3.06% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,963 | 2.75% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 3.63% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,917 | 2.63% |
| Batesville, AR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,890 | 2.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,895 | 2.75% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,142 | 2.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,009 | 2.63% |
| WACO, TX (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 3.44% |
| Lexington, NE (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,766 | 2.81% |
| Atchison, KS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,192 | 3.12% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 3.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,663 | 2.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,029 | 3.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,838 | 3.00% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,224 | 3.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,808 | 3.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,991 | 3.37% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,603 | 3.38% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,405 | 2.63% |
| Forest City, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,663 | 2.88% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 4.25% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,870 | 3.75% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,879 | 2.75% |
| OCALA, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,007 | 3.25% |
| Shawano, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,749 | 3.25% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,986 | 2.13% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.50% |
| AMES, IA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,984 | 2.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,690 | 2.99% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,782 | 2.63% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,409 | 2.25% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,609 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,154 | 3.63% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,274 | 3.38% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,039 | 2.63% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,699 | 2.38% |
| Durango, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,551 | 3.13% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,039 | 2.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,048 | 2.25% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.50% |
| Dixon, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,952 | 2.75% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,165 | 3.00% |
| Scottsbluff, NE (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,779 | 3.00% |
First State Mortgage Services 's top markets include Bloomington, Chicago, Milwaukee, Peoria, and Champaign among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,768 | $609,940,000 | $220,354 | $2,878 | 2.99% |
| FHA | 284 | $45,150,000 | $158,979 | $5,932 | 3.03% |
| VA | 124 | $32,870,000 | $265,081 | $5,528 | 2.62% |
| USDA | 85 | $10,605,000 | $124,765 | $3,998 | 2.86% |
For the 2021 period, First State Mortgage Services 's most frequently originated loan type of loans were Conventional, with 2,768 originations. Their 2nd most popular type is FHA, with 284 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,913 | $400,895,000 | $209,564 | $3,989 | 3.06% |
| Refi | 952 | $207,480,000 | $217,941 | $2,219 | 2.77% |
| Cash Out Refi | 373 | $84,865,000 | $227,520 | $2,550 | 3.02% |
| Other | 17 | $4,135,000 | $243,235 | $2,375 | 3.08% |
| Home Improvement | 6 | $1,190,000 | $198,333 | $2,770 | 3.13% |
For the 2021, First State Mortgage Services 's most frequently cited loan purpose of loans were Home Purchase, with 1,913 originations. The 2nd most popular reason of loans were Refi, with 952 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,621 | $563,065,000 | $214,828 | $3,563 | 3.08% |
| 15 Year | 437 | $91,765,000 | $209,989 | $2,275 | 2.48% |
| 20 Year | 149 | $34,755,000 | $233,255 | $2,285 | 2.82% |
| 10 Year | 51 | $8,235,000 | $161,471 | $1,994 | 2.39% |
| Other | 3 | $745,000 | $248,333 | $2,486 | 2.83% |
For the 2021, First State Mortgage Services 's most frequently cited loan length of loans were 30 Year, with 2,621 originations. The 2nd most popular length of loans were 15 Year, with 437 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,610 | $351,330,000 | $218,217 |
| $1k-2k | 1,049 | $217,495,000 | $207,336 |
| $2k-3k | 238 | $47,740,000 | $200,588 |
| $3k-4k | 126 | $41,200,000 | $326,984 |
| $5k+ | 22 | $9,960,000 | $452,727 |
$3,563 of loans were First State Mortgage Services 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,610 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,400 | $323,360,000 | $230,971 |
| 3-4% | 1,280 | $237,670,000 | $185,680 |
| <2.5% | 545 | $131,575,000 | $241,422 |
| 4-5% | 36 | $5,960,000 | $165,556 |
During 2021, First State Mortgage Services 's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,400 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 1,352 | $199,890,000 | $147,848 | $3,021 | 3.02% |
| $200k-400k | 1,293 | $351,915,000 | $272,169 | $3,497 | 2.90% |
| $100,000 or less | 376 | $29,200,000 | $77,660 | $2,835 | 3.18% |
| $400k-600k | 230 | $110,100,000 | $478,696 | $3,984 | 2.79% |
| $600k-1MM | 10 | $7,460,000 | $746,000 | $12,427 | 2.92% |
2021 saw First State Mortgage Services place emphasis on $100k-200k loans with 1,352 originations, totaling $199,890,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 765 | $190,795,000 | $249,405 | $3,124 | 2.93% |
| $50k-75k | 694 | $117,860,000 | $169,827 | $3,512 | 3.03% |
| $75k-100k | 609 | $126,715,000 | $208,071 | $3,229 | 2.94% |
| $50k or less | 537 | $63,785,000 | $118,780 | $3,449 | 3.10% |
| $150k-250k | 462 | $134,040,000 | $290,130 | $3,098 | 2.94% |
| $250k+ | 161 | $57,235,000 | $355,497 | $3,559 | 2.85% |
First State Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 765 originations. The second most popular income band? $50k-75k, with 694 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 881 | $188,015,000 | $213,411 | $2,988 | 2.92% |
| 30-36% | 635 | $133,765,000 | $210,654 | $3,251 | 2.99% |
| <20% | 307 | $64,785,000 | $211,026 | $2,624 | 2.84% |
| 44% | 148 | $31,510,000 | $212,905 | $3,568 | 3.15% |
| 42% | 124 | $26,190,000 | $211,210 | $3,680 | 3.08% |
| 38% | 123 | $23,955,000 | $194,756 | $3,398 | 3.05% |
| 40% | 119 | $25,225,000 | $211,975 | $3,593 | 3.06% |
| 39% | 116 | $26,700,000 | $230,172 | $3,537 | 3.06% |
| 41% | 113 | $24,175,000 | $213,938 | $3,633 | 2.95% |
| 37% | 108 | $23,660,000 | $219,074 | $3,731 | 3.08% |
| 43% | 108 | $22,300,000 | $206,481 | $3,464 | 3.07% |
| 36% | 102 | $21,840,000 | $214,118 | $3,445 | 3.05% |
| 45% | 72 | $16,690,000 | $231,806 | $3,819 | 3.00% |
| 49% | 62 | $14,920,000 | $240,645 | $3,213 | 2.89% |
| 50-60% | 60 | $12,900,000 | $215,000 | $6,228 | 2.89% |
| 46% | 59 | $14,415,000 | $244,322 | $4,145 | 2.97% |
| 48% | 52 | $11,500,000 | $221,154 | $3,322 | 2.95% |
| 47% | 45 | $9,705,000 | $215,667 | $3,283 | 3.01% |
| >60% | 2 | $520,000 | $260,000 | $5,059 | 3.25% |
First State Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 881 originations. The next most common DTI ratio? 30-36%, with 635 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,636 | $570,340,000 | $216,366 | $3,183 | 2.96% |
| Not provided | 340 | $66,300,000 | $195,000 | $3,793 | 3.07% |
| Asian | 126 | $31,920,000 | $253,333 | $3,807 | 2.94% |
| Black | 100 | $17,910,000 | $179,100 | $4,074 | 3.10% |
| Asian Indian | 34 | $7,470,000 | $219,706 | $3,513 | 3.01% |
| American Indian | 12 | $2,050,000 | $170,833 | $4,632 | 3.05% |
| Chinese | 6 | $910,000 | $151,667 | $3,216 | 2.75% |
| Other Asian | 2 | $480,000 | $240,000 | $4,172 | 2.87% |
| Filipino | 1 | $445,000 | $445,000 | $0 | 3.88% |
| Vietnamese | 1 | $215,000 | $215,000 | $5,193 | 3.25% |
| Samoan | 1 | $195,000 | $195,000 | $2,462 | 3.13% |
| Other Pacific Islander | 1 | $185,000 | $185,000 | $7,759 | 3.13% |
| Native Hawaiian | 1 | $145,000 | $145,000 | $0 | 3.63% |
Approval Rates
Total approvals of all applications95.94%
First State Mortgage Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.68%
First State Mortgage Services has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,261 | $698,565,000 | $214,218 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,261 | $698,565,000 | $214,218 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 72 | $11,960,000 | $166,111 | $2,103 | 2.67% |
| 40-60% | 310 | $65,910,000 | $212,613 | $2,259 | 2.72% |
| 60-80% | 1,214 | $274,810,000 | $226,367 | $2,680 | 2.98% |
| 80-100% | 1,645 | $340,535,000 | $207,012 | $3,856 | 3.03% |
| Over 100% | 19 | $5,295,000 | $278,684 | $9,941 | 2.51% |
| Under 20% | 1 | $55,000 | $55,000 | $3,040 | 3.25% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Mortgage Solutions | Conventional home mortgage | Closing on a mortgage | 3 | 75.0% |
| First Mortgage Solutions | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
