First Heritage Financial Mortgage Rates, Fees & Info

Trevose, PA

LEI: 5493001E3OD1D4Y8KX63

Tax ID: 23-3102701

4.5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Heritage Financial is a smaller mortgage company specializing in Home Purchase loans. First Heritage Financial 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 Philadelphia, Lansing, Detroit, Allentown, and Bloomsburg among others. First Heritage Financial has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. First Heritage Financial is typically an average fee lendor.


Originations

897

Origination Dollar Volume (All Markets)

$169,055,000

Awards

FIRST HERITAGE FINANCIAL  30 Year Conventional Loans silver FIRST HERITAGE FINANCIAL  FHA Loans gold FIRST HERITAGE FINANCIAL  30 Year Conventional Loans gold FIRST HERITAGE FINANCIAL  FHA Loans bronze
Show all (4) awards

Relative Rate

First Heritage Financial 's average 30 year fixed rate mortgage of loans were 3.2%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.05%.

Relative Fees

First Heritage Financial 's average total fees for a 30 year fixed rate mortgage are $5,113.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 264 $60,660,000 $229,773 $5,460 3.20%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 136 $23,050,000 $169,485 $5,278 3.19%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 68 $14,680,000 $215,882 $3,859 3.14%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 74 $13,430,000 $181,486 $4,373 2.88%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 41 $7,965,000 $194,268 $4,820 3.18%
LEBANON, PA (FHA|USDA|VA) 38 $6,020,000 $158,421 $4,655 2.86%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 31 $4,635,000 $149,516 $4,475 3.09%
ERIE, PA (FHA|USDA|VA) 38 $4,110,000 $108,158 $4,305 2.96%
Sunbury, PA (FHA|USDA|VA) 28 $3,680,000 $131,429 $3,833 3.13%
Outside of Metro Areas 17 $3,235,000 $190,294 $5,140 3.04%
READING, PA (FHA|USDA|VA) 12 $2,360,000 $196,667 $5,854 3.01%
Selinsgrove, PA (FHA|USDA|VA) 12 $2,080,000 $173,333 $4,054 3.11%
Lewisburg, PA (FHA|USDA|VA) 12 $1,910,000 $159,167 $3,768 3.15%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 9 $1,685,000 $187,222 $4,280 3.26%
YORK-HANOVER, PA (FHA|USDA|VA) 13 $1,655,000 $127,308 $4,596 3.28%
FLINT, MI (FHA|USDA|VA) 7 $1,155,000 $165,000 $5,059 3.25%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 7 $1,105,000 $157,857 $4,253 2.91%
WILLIAMSPORT, PA (FHA|USDA|VA) 8 $1,090,000 $136,250 $4,175 3.23%
Pottsville, PA (FHA|USDA|VA) 9 $985,000 $109,444 $4,189 3.14%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $940,000 $235,000 $8,029 3.00%
LANCASTER, PA (FHA|USDA|VA) 7 $925,000 $132,143 $4,127 3.04%
PITTSBURGH, PA (FHA|USDA|VA) 5 $805,000 $161,000 $4,494 2.76%
JACKSON, MI (FHA|USDA|VA) 4 $740,000 $185,000 $6,869 3.06%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $710,000 $355,000 $3,307 2.50%
STATE COLLEGE, PA (FHA|USDA|VA) 4 $690,000 $172,500 $3,699 2.89%
Key West, FL (FHA|USDA|VA) 1 $675,000 $675,000 $7,450 3.25%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $590,000 $295,000 $5,458 3.13%
Traverse City, MI (FHA|USDA|VA) 2 $530,000 $265,000 $3,502 3.35%
ALTOONA, PA (FHA|USDA|VA) 4 $530,000 $132,500 $5,307 3.09%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,031 3.10%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $485,000 $161,667 $5,524 2.83%
Alma, MI (FHA|USDA|VA) 2 $440,000 $220,000 $7,187 3.31%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,953 3.63%
Meadville, PA (FHA|USDA|VA) 3 $345,000 $115,000 $4,231 3.04%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $330,000 $165,000 $3,653 3.10%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 3 $315,000 $105,000 $3,267 2.84%
Ashtabula, OH (FHA|USDA|VA) 1 $285,000 $285,000 $3,813 3.05%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $285,000 $285,000 $2,807 3.25%
Jefferson, GA (FHA|USDA|VA) 1 $275,000 $275,000 $3,886 3.13%
AKRON, OH (FHA|USDA|VA) 1 $265,000 $265,000 $8,757 2.88%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $225,000 $225,000 $7,259 3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,075 2.50%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $205,000 $205,000 $9,274 2.50%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $190,000 $95,000 $2,619 3.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,606 2.63%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,483 3.50%
Adrian, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,919 3.13%
NILES, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,425 2.63%
Tifton, GA (FHA|USDA|VA) 1 $155,000 $155,000 $3,319 3.05%
Lewistown, PA (FHA|USDA|VA) 1 $135,000 $135,000 $5,404 3.25%
New Castle, PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,232 2.35%
LYNCHBURG, VA (FHA|USDA|VA) 1 $105,000 $105,000 $2,474 3.00%
MUSKEGON, MI (FHA|USDA|VA) 1 $95,000 $95,000 $3,521 2.38%
Oil City, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,830 3.25%
DuBois, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,411 3.00%
Cadillac, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,798 2.75%
SAGINAW, MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,194 2.58%
Lock Haven, PA (FHA|USDA|VA) 1 $55,000 $55,000 $2,969 2.75%

First Heritage Financial 's top markets include Philadelphia, Lansing, Detroit, Allentown, and Bloomsburg among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 639 $124,755,000 $195,235 $4,043 3.12%
FHA 225 $37,575,000 $167,000 $6,926 3.13%
VA 25 $5,425,000 $217,000 $5,983 2.85%
USDA 8 $1,300,000 $162,500 $5,598 2.77%

For the 2021 period, First Heritage Financial 's most frequently originated loan type of loans were Conventional, with 639 originations. Their 2nd most popular type is FHA, with 225 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 608 $114,600,000 $188,487 $5,143 3.16%
Refi 169 $32,325,000 $191,272 $3,921 2.88%
Cash Out Refi 120 $22,130,000 $184,417 $4,633 3.15%

For the 2021, First Heritage Financial 's most frequently cited loan purpose of loans were Home Purchase, with 608 originations. The 2nd most popular reason of loans were Refi, with 169 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 728 $139,870,000 $192,129 $5,113 3.20%
15 Year 107 $17,515,000 $163,692 $3,623 2.61%
20 Year 50 $9,950,000 $199,000 $3,821 2.95%
10 Year 11 $1,475,000 $134,091 $3,505 2.42%
Other 1 $245,000 $245,000 $7,228 3.58%

For the 2021, First Heritage Financial 's most frequently cited loan length of loans were 30 Year, with 728 originations. The 2nd most popular length of loans were 15 Year, with 107 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 414 $81,300,000 $196,377
$1k-2k 293 $49,785,000 $169,915
$3k-4k 78 $15,220,000 $195,128
$2k-3k 71 $11,975,000 $168,662
$5k+ 24 $8,050,000 $335,417

$5,113 of loans were First Heritage Financial 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 414 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 470 $91,360,000 $194,383
2.5-3% 338 $63,300,000 $187,278
<2.5% 74 $12,180,000 $164,595
4-5% 11 $1,945,000 $176,818
5-6% 4 $270,000 $67,500

During 2021, First Heritage Financial 's average interest rate of loans were 3.20%, while their most frequently originated rate bucket of loans were 3-4%, with 470 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 446 $67,260,000 $150,807 $4,558 3.09%
$200k-400k 274 $73,080,000 $266,715 $5,556 3.11%
$100,000 or less 140 $10,470,000 $74,786 $3,644 3.14%
$400k-600k 35 $16,695,000 $477,000 $7,585 3.10%
$600k-1MM 2 $1,550,000 $775,000 $7,709 3.31%

2021 saw First Heritage Financial place emphasis on $100k-200k loans with 446 originations, totaling $67,260,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 281 $38,205,000 $135,961 $4,712 3.11%
$50k-75k 262 $44,230,000 $168,817 $4,821 3.14%
$75k-100k 139 $29,545,000 $212,554 $4,971 3.15%
$100k-150k 129 $29,305,000 $227,171 $4,846 3.05%
$150k-250k 50 $15,170,000 $303,400 $4,731 3.01%
$250k+ 29 $10,855,000 $374,310 $6,337 3.14%

First Heritage Financial lent most frequently to those with incomes in the $50k or less range, with 281 originations. The second most popular income band? $50k-75k, with 262 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 175 $33,105,000 $189,171 $4,496 3.09%
30-36% 169 $30,135,000 $178,314 $4,392 3.10%
<20% 67 $12,205,000 $182,164 $4,123 3.02%
39% 47 $8,405,000 $178,830 $5,138 3.08%
37% 45 $9,055,000 $201,222 $5,324 3.14%
43% 44 $10,240,000 $232,727 $5,542 3.15%
42% 40 $7,580,000 $189,500 $5,494 3.07%
44% 39 $6,375,000 $163,462 $4,861 3.16%
41% 37 $6,985,000 $188,784 $4,963 3.20%
36% 35 $6,025,000 $172,143 $4,068 3.24%
38% 35 $7,085,000 $202,429 $4,487 3.24%
40% 32 $6,120,000 $191,250 $4,968 3.03%
50-60% 28 $4,620,000 $165,000 $6,267 2.97%
45% 28 $5,800,000 $207,143 $5,807 3.11%
46% 27 $5,415,000 $200,556 $5,630 3.25%
48% 18 $3,280,000 $182,222 $5,209 3.17%
49% 13 $2,235,000 $171,923 $5,516 3.12%
47% 12 $2,900,000 $241,667 $6,518 3.00%
>60% 6 $1,490,000 $248,333 $5,045 2.88%

First Heritage Financial lent most frequently to those with DTI ratios of 20-30%, with 175 originations. The next most common DTI ratio? 30-36%, with 169 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 709 $133,825,000 $188,752 $4,677 3.09%
Black 116 $20,610,000 $177,672 $5,604 3.22%
Asian 32 $8,770,000 $274,063 $5,474 3.09%
Not provided 36 $5,070,000 $140,833 $5,084 3.11%
American Indian 2 $310,000 $155,000 $5,975 3.01%
Other Asian 1 $235,000 $235,000 $3,587 3.75%
Chinese 1 $235,000 $235,000 $8,289 3.75%

Approval Rates

Total approvals of all applications
94.36%

First Heritage Financial has an average approval rate.

Pick Rate

Approvals leading to origination
91.49%

First Heritage Financial has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 897 $169,055,000 $188,467

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
897 $169,055,000 $188,467

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 23 $2,425,000 $105,435 $3,093 2.81%
40-60% 88 $14,190,000 $161,250 $3,588 2.85%
60-80% 239 $48,785,000 $204,121 $4,388 3.17%
80-100% 543 $103,285,000 $190,212 $5,321 3.14%
Over 100% 1 $195,000 $195,000 $7,693 3.25%
Under 20% 3 $175,000 $58,333 $3,058 2.84%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST FINANCIAL BANCORP Other type of mortgage Trouble during payment process 1 25.0%
FIRST FINANCIAL BANCORP Home equity loan or line of credit (HELOC) Trouble during payment process 1 25.0%
FIRST FINANCIAL BANCORP Conventional home mortgage Trouble during payment process 1 25.0%
FIRST FINANCIAL BANCORP Conventional home mortgage Struggling to pay mortgage 1 25.0%