F-m Mortgage Corporation Rates, Fees & Info
FARGO, NDLEI: 5493002J9TC73T8T7610
Tax ID: 45-0425495
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Mortgage Data
Review & Overview
F-m Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. They have a a high proportion of FHA loans. F-m Mortgage Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Fargo, Bismarck, Wahpeton, and Jamestown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)F-m Mortgage Corporation has an average approval rate when compared to the average across all lenders. F-m Mortgage Corporation 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.
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Originations
18Origination Dollar Volume (All Markets)
$2,670,000Awards
F-M MORTGAGE CORPORATION - 2018
F-M MORTGAGE CORPORATION is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| FARGO, ND-MN (FHA|USDA|VA) | 10 | $1,690,000 | $169,000 | $5,522 | 4.97% |
| Outside of Metro Areas | 5 | $535,000 | $107,000 | $3,332 | 4.60% |
| BISMARCK, ND (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,830 | 5.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,119 | 4.55% |
| Jamestown, ND (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,720 | 4.88% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 11 | $1,615,000 | $146,818 | $4,523 | 4.84% |
| Conventional | 6 | $880,000 | $146,667 | $4,878 | 4.85% |
| VA | 1 | $175,000 | $175,000 | $0 | 4.75% |
For 2018, F-m Mortgage Corporation's most frequently originated type of loan was FHA, with 11 originations. Their 2nd most popular type was Conventional, with 6 originations.
Loan Reason
For 2018, F-m Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 17 | $2,475,000 | $145,588 | $4,483 | 4.85% |
| 20 Year | 1 | $195,000 | $195,000 | $7,303 | 4.63% |
For 2018, F-m Mortgage Corporation's most frequently cited loan duration was 30 Year, with 17 originations. The 2nd most popular length was 20 Year, with 1 originations.
Origination Fees/Closing Costs
F-m Mortgage Corporation's average total fees were $4,483, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 14 | $1,940,000 | $138,571 |
| 5-6% | 4 | $730,000 | $182,500 |
During 2018, F-m Mortgage Corporation's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 14 originations.
Loan Sizing
2018 saw F-m Mortgage Corporation place emphasis on $100k-200k loans with 12 originations, totaling $1,920,000 in origination value.
Applicant Income
F-m Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
F-m Mortgage Corporation lent most frequently to those with DTI ratios of 50-60%, with 3 originations. The next most common DTI ratio? 41%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 18 | $2,670,000 | $148,333 | $4,649 | 4.84% |
Approval Rates
Total approvals of all applications84.00%
F-m Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 18 | $2,670,000 | $148,333 |