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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    • Mortgage Data

  • Originations
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  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Bloomington, Chicago, Milwaukee, Peoria, and Champaign among others. We have data for 141 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 an above 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% 4/28/24
    30 Year Conventional Refi 6.37% 4/28/24
    30 Year Cash-out Refi 6.63% 4/28/24
    30 Year FHA Purchase 7.38% 4/28/24
    30 Year FHA Refi 5.84% 4/28/24
    30 Year VA Purchase 6.34% 4/28/24
    30 Year VA Refi 5.89% 4/28/24
    30 Year USDA Purchase 6.66% 4/28/24
    15 Year Conventional Purchase 6.10% 4/28/24
    15 Year Conventional Refi 6.06% 4/28/24
    15 Year Cash-out Refi 6.06% 4/28/24
    15 Year FHA Purchase 7.09% 4/28/24
    15 Year VA Purchase 5.35% 4/28/24
    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

    3,261

    Origination Dollar Volume (All Markets)

    $698,565,000
    Show all (11) 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
    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.

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

    First State Bank
    Similarity Rank: 24
    First Savings Bank of Hegewisch
    Similarity Rank: 45
    Alliance Community Bank
    Similarity Rank: 128
    Liberty Bank for Savings
    Similarity Rank: 153
    HEARTLAND
    Similarity Rank: 161
    MEMBERS COOPERATIVE
    Similarity Rank: 168
    Deerwood Bank
    Similarity Rank: 288
    Northview Bank
    Similarity Rank: 323
    Goodfield State Bank
    Similarity Rank: 324
    Town & Country Bank
    Similarity Rank: 328

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First State Mortgage Services's most frequently originated type of loan was Conventional, with 2,768 originations. Their 2nd most popular type was FHA, with 284 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First State Mortgage Services's most frequently cited loan purpose was Home Purchase, with 1,913 originations. The 2nd most popular reason was 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 2021, First State Mortgage Services's most frequently cited loan duration was 30 Year, with 2,621 originations. The 2nd most popular length was 15 Year, with 437 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 84 $26,670,000 $317,500
    $4k-5k 42 $14,530,000 $345,952
    $5k+ 22 $9,960,000 $452,727

    First State Mortgage Services's average total fees were $3,563, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.08%, while their most frequently originated rate bucket for loans was 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 or Islander 1 $145,000 $145,000 $0 3.63%

    Approval Rates

    Total approvals of all applications
    96.39%

    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
    90.95%

    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%