First State Mortgage Services Rates, Fees & Info

MENDOTA, IL

LEI: 5493000F6NFDOVVZP043

Tax ID: 41-2181683

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • Origination Fees (Closing Costs)

    • Review & Overview

    First State Mortgage Services is a smaller mortgage company specializing in Refi and Home Purchase loans. First State Mortgage Services has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Bloomington, Milwaukee, Peoria, and Grand Rapids among others. We have data for 153 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First State Mortgage Services has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First State Mortgage Services is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.65% 12/17/24
    30 Year Conventional Refi 6.37% 12/17/24
    30 Year Cash-out Refi 6.63% 12/17/24
    30 Year FHA Purchase 7.38% 12/17/24
    30 Year FHA Refi 5.84% 12/17/24
    30 Year VA Purchase 6.34% 12/17/24
    30 Year VA Refi 5.89% 12/17/24
    30 Year USDA Purchase 6.66% 12/17/24
    15 Year Conventional Purchase 6.10% 12/17/24
    15 Year Conventional Refi 6.06% 12/17/24
    15 Year Cash-out Refi 6.06% 12/17/24
    15 Year FHA Purchase 7.09% 12/17/24
    15 Year VA Purchase 5.35% 12/17/24
    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.

    First State Mortgage Services Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First State Mortgage Services. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    4,391

    Origination Dollar Volume (All Markets)

    $944,355,000
    Show all (24) awards

    Top 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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1,302 $327,550,000 $251,575 $3,355 2.98%
    BLOOMINGTON, IL (FHA|USDA|VA) 1,418 $253,610,000 $178,850 $2,752 3.02%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 497 $128,165,000 $257,877 $2,388 3.05%
    PEORIA, IL (FHA|USDA|VA) 246 $36,370,000 $147,846 $3,298 3.06%
    Outside of Metro Areas 120 $22,470,000 $187,250 $3,044 3.03%
    Grand Rapids, MN (FHA|USDA|VA) 56 $11,790,000 $210,536 $3,294 3.06%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 56 $11,450,000 $204,464 $2,757 3.05%
    DECATUR, IL (FHA|USDA|VA) 84 $10,760,000 $128,095 $2,917 3.14%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 35 $7,975,000 $227,857 $3,433 3.30%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 21 $6,305,000 $300,238 $2,686 2.93%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 27 $5,955,000 $220,556 $2,200 3.20%
    SPRINGFIELD, IL (FHA|USDA|VA) 29 $5,475,000 $188,793 $3,001 2.88%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 23 $5,285,000 $229,783 $3,086 3.15%
    Ottawa, IL (FHA|USDA|VA) 27 $4,865,000 $180,185 $3,992 3.14%
    Whitewater, WI (FHA|USDA|VA) 14 $4,330,000 $309,286 $2,418 2.91%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 16 $3,570,000 $223,125 $2,409 2.89%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $3,425,000 $380,556 $4,058 2.96%
    MADISON, WI (FHA|USDA|VA) 12 $3,380,000 $281,667 $3,028 3.06%
    RACINE, WI (FHA|USDA|VA) 12 $3,370,000 $280,833 $1,958 2.97%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $3,085,000 $440,714 $3,175 2.64%
    LINCOLN, NE (FHA|USDA|VA) 11 $3,035,000 $275,909 $4,673 3.05%
    Beaver Dam, WI (FHA|USDA|VA) 15 $2,935,000 $195,667 $1,853 3.01%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 11 $2,595,000 $235,909 $4,338 3.13%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 8 $2,480,000 $310,000 $2,964 2.78%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 6 $2,320,000 $386,667 $3,511 2.90%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 19 $2,245,000 $118,158 $6,138 3.64%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 7 $2,245,000 $320,714 $2,556 3.07%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 10 $2,170,000 $217,000 $4,945 2.94%
    ROCKFORD, IL (FHA|USDA|VA) 13 $2,125,000 $163,462 $4,037 3.29%
    SPRINGFIELD, MO (FHA|USDA|VA) 9 $2,075,000 $230,556 $2,009 2.79%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 8 $2,070,000 $258,750 $4,485 2.95%
    Pontiac, IL (FHA|USDA|VA) 14 $1,940,000 $138,571 $3,288 3.07%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 13 $1,905,000 $146,538 $7,744 3.44%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $1,875,000 $267,857 $2,536 3.18%
    TUCSON, AZ (FHA|USDA|VA) 7 $1,795,000 $256,429 $3,183 3.16%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $1,730,000 $432,500 $3,225 2.84%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,705,000 $341,000 $5,064 3.37%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,680,000 $420,000 $4,433 3.03%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 10 $1,570,000 $157,000 $2,179 3.36%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 6 $1,510,000 $251,667 $2,762 2.79%
    Lincoln, IL (FHA|USDA|VA) 12 $1,460,000 $121,667 $3,697 3.00%
    KANKAKEE, IL (FHA|USDA|VA) 6 $1,430,000 $238,333 $3,396 3.17%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,385,000 $461,667 $4,913 3.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $1,385,000 $277,000 $3,042 2.85%
    TOLEDO, OH (FHA|USDA|VA) 3 $1,165,000 $388,333 $4,799 2.96%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,025,000 $205,000 $3,581 3.35%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,025,000 $341,667 $4,874 3.29%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 3 $955,000 $318,333 $2,550 3.21%
    JACKSONVILLE, FL (FHA|USDA|VA) 5 $865,000 $173,000 $2,435 3.18%
    ASHEVILLE, NC (FHA|USDA|VA) 3 $835,000 $278,333 $2,879 2.79%
    OCALA, FL (FHA|USDA|VA) 4 $820,000 $205,000 $3,409 2.84%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 4 $820,000 $205,000 $3,657 3.63%
    Breckenridge, CO (FHA|USDA|VA) 2 $780,000 $390,000 $0 3.63%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 5 $745,000 $149,000 $2,713 3.70%
    Brainerd, MN (FHA|USDA|VA) 5 $735,000 $147,000 $1,989 3.60%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $730,000 $365,000 $3,581 3.31%
    AKRON, OH (FHA|USDA|VA) 2 $720,000 $360,000 $4,646 3.25%
    SHEBOYGAN, WI (FHA|USDA|VA) 3 $705,000 $235,000 $2,061 3.04%
    LOUISVILLE, KY (FHA|USDA|VA) 3 $675,000 $225,000 $2,505 2.58%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $640,000 $320,000 $2,420 3.06%
    BOISE CITY, ID (FHA|USDA|VA) 2 $550,000 $275,000 $4,033 3.19%
    PUEBLO, CO (FHA|USDA|VA) 2 $550,000 $275,000 $3,010 2.63%
    Baraboo, WI (FHA|USDA|VA) 2 $530,000 $265,000 $4,335 2.88%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $530,000 $265,000 $2,629 2.56%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $530,000 $265,000 $2,369 2.81%
    Morehead City, NC (FHA|USDA|VA) 1 $515,000 $515,000 $4,326 2.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $505,000 $505,000 $3,436 2.75%
    Traverse City, MI (FHA|USDA|VA) 1 $495,000 $495,000 $3,536 3.00%
    ANN ARBOR, MI (FHA|USDA|VA) 2 $490,000 $245,000 $2,263 3.06%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $485,000 $485,000 $2,510 2.88%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 2 $480,000 $240,000 $3,473 2.69%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $455,000 $455,000 $6,786 2.63%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $455,000 $455,000 $3,214 2.63%
    RICHMOND, VA (FHA|USDA|VA) 1 $405,000 $405,000 $3,196 2.75%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 2 $400,000 $200,000 $3,453 2.81%
    Edwards, CO (FHA|USDA|VA) 1 $385,000 $385,000 $2,376 2.88%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $385,000 $385,000 $3,960 2.88%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $380,000 $190,000 $0 3.13%
    Sevierville, TN (FHA|USDA|VA) 1 $375,000 $375,000 $5,070 2.88%
    BATON ROUGE, LA (FHA|USDA|VA) 2 $370,000 $185,000 $2,910 2.81%
    Galesburg, IL (FHA|USDA|VA) 3 $355,000 $118,333 $2,261 2.83%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $345,000 $345,000 $3,296 2.75%
    Stevens Point, WI (FHA|USDA|VA) 1 $345,000 $345,000 $1,677 2.63%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $345,000 $345,000 $3,200 3.13%
    ST. GEORGE, UT (FHA|USDA|VA) 1 $335,000 $335,000 $3,030 3.63%
    COLUMBUS, OH (FHA|USDA|VA) 2 $330,000 $165,000 $3,672 2.94%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $325,000 $325,000 $4,175 2.25%
    MONROE, LA (FHA|USDA|VA) 1 $325,000 $325,000 $10,422 2.63%
    GREEN BAY, WI (FHA|USDA|VA) 2 $320,000 $160,000 $2,022 2.88%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $315,000 $315,000 $2,445 2.38%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $305,000 $305,000 $5,172 3.00%
    STOCKTON, CA (FHA|USDA|VA) 1 $305,000 $305,000 $2,551 2.88%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $295,000 $295,000 $8,961 2.75%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $295,000 $295,000 $2,967 3.50%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $295,000 $295,000 $3,117 3.38%
    FOND DU LAC, WI (FHA|USDA|VA) 2 $290,000 $145,000 $4,054 3.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $285,000 $285,000 $2,892 2.50%
    Athens, TX (FHA|USDA|VA) 1 $285,000 $285,000 $5,882 3.13%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $265,000 $265,000 $3,519 2.88%
    Freeport, IL (FHA|USDA|VA) 1 $255,000 $255,000 $9,439 3.50%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $255,000 $255,000 $3,190 3.13%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,404 3.13%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $245,000 $245,000 $5,903 2.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,253 3.13%
    SAVANNAH, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,899 3.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $235,000 $235,000 $1,887 2.75%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $235,000 $235,000 $2,673 3.38%
    Warrensburg, MO (FHA|USDA|VA) 1 $235,000 $235,000 $2,867 2.50%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $225,000 $225,000 $2,689 2.63%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $2,465 3.38%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $225,000 $225,000 $2,105 3.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,372 3.13%
    Marinette, WI-MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,272 3.25%
    WACO, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,044 3.50%
    HAMMOND, LA (FHA|USDA|VA) 1 $215,000 $215,000 $5,971 2.38%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $210,000 $105,000 $0 4.50%
    Crossville, TN (FHA|USDA|VA) 1 $205,000 $205,000 $2,675 3.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,201 3.75%
    DANVILLE, IL (FHA|USDA|VA) 2 $200,000 $100,000 $5,464 3.19%
    Holland, MI (FHA|USDA|VA) 1 $195,000 $195,000 $6,831 3.25%
    Vidalia, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,355 2.75%
    Jacksonville, IL (FHA|USDA|VA) 2 $190,000 $95,000 $2,792 3.19%
    DECATUR, AL (FHA|USDA|VA) 1 $185,000 $185,000 $3,166 2.75%
    VICTORIA, TX (FHA|USDA|VA) 1 $175,000 $175,000 $1,975 2.50%
    APPLETON, WI (FHA|USDA|VA) 1 $165,000 $165,000 $1,777 2.75%
    Paducah, KY-IL (FHA|USDA|VA) 1 $165,000 $165,000 $4,054 2.63%
    MANHATTAN, KS (FHA|USDA|VA) 1 $165,000 $165,000 $4,811 2.75%
    Lexington, NE (FHA|USDA|VA) 2 $160,000 $80,000 $2,256 3.69%
    IOWA CITY, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,308 3.38%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $155,000 $155,000 $1,777 3.25%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,826 2.50%
    MUSKEGON, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,508 4.75%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,258 2.38%
    Dixon, IL (FHA|USDA|VA) 1 $145,000 $145,000 $5,388 2.88%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $6,511 3.50%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $145,000 $145,000 $5,261 2.38%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,795 2.88%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,410 3.88%
    West Plains, MO (FHA|USDA|VA) 1 $125,000 $125,000 $1,695 2.75%
    Quincy, IL-MO (FHA|USDA|VA) 1 $115,000 $115,000 $2,786 2.63%
    COLUMBIA, SC (FHA|USDA|VA) 1 $115,000 $115,000 $2,991 3.00%
    Macomb, IL (FHA|USDA|VA) 1 $115,000 $115,000 $5,746 3.63%
    Beatrice, NE (FHA|USDA|VA) 2 $110,000 $55,000 $2,464 3.25%
    Big Rapids, MI (FHA|USDA|VA) 1 $105,000 $105,000 $5,392 3.63%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.25%
    Rochelle, IL (FHA|USDA|VA) 1 $105,000 $105,000 $4,782 2.75%
    Bardstown, KY (FHA|USDA|VA) 1 $95,000 $95,000 $1,623 2.25%
    Mount Vernon, IL (FHA|USDA|VA) 1 $95,000 $95,000 $4,192 3.38%
    Taylorville, IL (FHA|USDA|VA) 1 $95,000 $95,000 $3,406 2.75%
    Platteville, WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.25%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $75,000 $75,000 $2,680 2.75%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.25%
    Effingham, IL (FHA|USDA|VA) 1 $55,000 $55,000 $4,011 3.13%
    First State Mortgage Services's top markets include Chicago, Bloomington, Milwaukee, Peoria, and Grand Rapids among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST STATE MORTGAGE SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,799 $836,845,000 $220,280 $2,704 3.03%
    FHA 266 $40,010,000 $150,414 $5,747 3.20%
    VA 243 $57,625,000 $237,140 $4,287 2.77%
    USDA 83 $9,875,000 $118,976 $3,840 2.99%

    For 2020, First State Mortgage Services's most frequently originated type of loan was Conventional, with 3,799 originations. Their 2nd most popular type was FHA, with 266 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,097 $494,665,000 $235,892 $2,273 2.91%
    Home Purchase 1,777 $329,905,000 $185,653 $4,010 3.15%
    Cash Out Refi 506 $117,760,000 $232,727 $2,583 3.09%
    Other 8 $1,540,000 $192,500 $2,163 2.83%
    Home Improvement 3 $485,000 $161,667 $2,199 3.00%

    For 2020, First State Mortgage Services's most frequently cited loan purpose was Refi, with 2,097 originations. The 2nd most popular reason was Home Purchase, with 1,777 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,196 $686,250,000 $214,722 $3,343 3.13%
    15 Year 793 $166,135,000 $209,502 $2,133 2.63%
    20 Year 307 $71,605,000 $233,241 $2,212 3.01%
    10 Year 60 $11,680,000 $194,667 $1,986 2.57%
    Other 35 $8,685,000 $248,143 $2,232 3.11%

    For 2020, First State Mortgage Services's most frequently cited loan duration was 30 Year, with 3,196 originations. The 2nd most popular length was 15 Year, with 793 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,327 $499,085,000 $214,476
    $1k-2k 1,336 $289,990,000 $217,058
    $2k-3k 339 $63,165,000 $186,327
    $3k-4k 105 $29,355,000 $279,571
    $4k-5k 63 $22,525,000 $357,540
    $5k+ 31 $14,035,000 $452,742

    First State Mortgage Services's average total fees were $3,343, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,327 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,926 $443,940,000 $230,498
    3-4% 1,673 $325,295,000 $194,438
    <2.5% 664 $155,010,000 $233,449
    4-5% 124 $19,500,000 $157,258
    5-6% 4 $610,000 $152,500

    During 2020, First State Mortgage Services's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,926 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,879 $510,685,000 $271,786 $3,075 2.94%
    $100k-200k 1,821 $272,775,000 $149,794 $2,874 3.08%
    $100,000 or less 417 $32,785,000 $78,621 $2,874 3.28%
    $400k-600k 272 $126,830,000 $466,287 $3,579 2.92%
    $600k-1MM 2 $1,280,000 $640,000 $7,260 3.38%

    2020 saw First State Mortgage Services place emphasis on $200k-400k loans with 1,879 originations, totaling $510,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,047 $250,015,000 $238,792 $2,779 2.98%
    $50k-75k 927 $154,175,000 $166,316 $3,282 3.09%
    $75k-100k 792 $164,340,000 $207,500 $2,963 3.02%
    $150k-250k 744 $210,820,000 $283,360 $2,803 2.96%
    $50k or less 621 $81,785,000 $131,699 $3,273 3.16%
    $250k+ 217 $72,855,000 $335,737 $2,902 2.88%

    First State Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 1,047 originations. The second most popular income band? $50k-75k, with 927 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,293 $282,005,000 $218,101 $2,733 2.97%
    30-36% 842 $181,280,000 $215,297 $2,941 3.07%
    <20% 503 $103,295,000 $205,358 $2,398 2.88%
    44% 172 $35,050,000 $203,779 $3,519 3.11%
    43% 165 $34,535,000 $209,303 $3,505 3.21%
    36% 154 $33,300,000 $216,234 $3,241 3.11%
    38% 144 $31,370,000 $217,847 $3,077 3.04%
    42% 138 $30,480,000 $220,870 $3,509 3.15%
    41% 135 $27,865,000 $206,407 $3,528 3.15%
    37% 132 $27,790,000 $210,530 $3,247 3.13%
    40% 119 $25,955,000 $218,109 $3,600 3.08%
    39% 115 $22,695,000 $197,348 $3,637 3.20%
    45% 84 $16,270,000 $193,690 $3,195 3.09%
    49% 78 $17,510,000 $224,487 $2,903 2.91%
    46% 77 $17,465,000 $226,818 $3,636 3.04%
    47% 68 $15,390,000 $226,324 $3,865 3.05%
    48% 55 $13,815,000 $251,182 $3,358 3.10%
    50-60% 46 $10,230,000 $222,391 $5,461 3.03%
    >60% 4 $730,000 $182,500 $1,555 2.94%

    First State Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 1,293 originations. The next most common DTI ratio? 30-36%, with 842 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,792 $818,810,000 $215,931 $2,931 3.02%
    Not provided 369 $73,095,000 $198,089 $3,387 3.10%
    Asian 104 $26,310,000 $252,981 $3,524 2.87%
    Black 84 $17,090,000 $203,452 $4,223 3.13%
    Asian Indian 19 $4,115,000 $216,579 $3,724 2.93%
    American Indian 12 $2,630,000 $219,167 $3,139 2.90%
    Other Pacific Islander 3 $625,000 $208,333 $3,078 3.04%
    Japanese 2 $540,000 $270,000 $2,484 2.81%
    Filipino 3 $505,000 $168,333 $2,679 3.00%
    Other Asian 2 $440,000 $220,000 $3,089 3.13%
    Native Hawaiian or Islander 1 $195,000 $195,000 $0 3.63%

    Approval Rates

    Total approvals of all applications
    96.52%

    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 origination
    89.36%

    First State Mortgage Services has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,391 $944,355,000 $215,066

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 4,391 $944,355,000 $215,066

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 96 $18,560,000 $193,333 $2,270 2.87%
    40-60% 499 $110,305,000 $221,052 $2,218 2.84%
    60-80% 1,734 $399,380,000 $230,323 $2,367 2.99%
    80-100% 2,017 $405,485,000 $201,034 $3,644 3.11%
    Over 100% 40 $9,840,000 $246,000 $8,106 2.78%
    Under 20% 5 $785,000 $157,000 $2,484 2.80%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRSTRUST MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 50.0%
    FIRSTRUST MORTGAGE, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%