First Colony Mortgage Corporation Rates, Fees & Info
OREM, UTLEI: 5493003V40VGM7YDFM54
Tax ID: 87-0415314
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Mortgage Data
Review & Overview
First Colony Mortgage Corporation is a mid-sized mortgage company specializing in Home Purchase and Refi loans. First Colony Mortgage Corporation 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: Provo, Salt Lake City, St. George, Ogden, and Logan among others. We have data for 92 markets. (Some data included below & more in-depth data is available with an active subscription.)First Colony Mortgage Corporation 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 Colony Mortgage Corporation is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.63% | 10/3/22 |
| 30 Year Conventional Refi | 6.51% | 10/3/22 |
| 30 Year Cash-out Refi | 6.64% | 10/3/22 |
| 30 Year FHA Purchase | 7.25% | 10/3/22 |
| 30 Year FHA Refi | 7.06% | 10/3/22 |
| 30 Year VA Purchase | 6.10% | 10/3/22 |
| 30 Year VA Refi | 6.14% | 10/3/22 |
| 30 Year USDA Purchase | 6.45% | 10/3/22 |
| 30 Year USDA Refi | 6.50% | 10/3/22 |
| 15 Year Conventional Purchase | 6.19% | 10/3/22 |
| 15 Year Conventional Refi | 6.18% | 10/3/22 |
| 15 Year Cash-out Refi | 6.18% | 10/3/22 |
| 15 Year VA Refi | 6.39% | 10/3/22 |
| 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. | ||
Originations
9,933Origination Dollar Volume (All Markets)
$3,275,525,000Awards
FIRST COLONY MORTGAGE CORPORATION - 2021
FIRST COLONY MORTGAGE CORPORATION 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 Colony Mortgage Corporation's average 30 year fixed mortgage rate was
3.06%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
First Colony Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,176.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| PROVO-OREM, UT (FHA|USDA|VA) | 4,460 | $1,545,590,000 | $346,545 | $4,864 | 2.97% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1,603 | $567,725,000 | $354,164 | $4,844 | 3.06% |
| ST. GEORGE, UT (FHA|USDA|VA) | 914 | $311,690,000 | $341,018 | $4,588 | 3.05% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 748 | $245,510,000 | $328,222 | $5,094 | 3.01% |
| LOGAN, UT-ID (FHA|USDA|VA) | 381 | $123,215,000 | $323,399 | $5,290 | 2.87% |
| POCATELLO, ID (FHA|USDA|VA) | 281 | $64,145,000 | $228,274 | $6,017 | 3.04% |
| Outside of Metro Areas | 221 | $49,725,000 | $225,000 | $5,143 | 3.12% |
| Ontario, OR-ID (FHA|USDA|VA) | 191 | $41,875,000 | $219,241 | $6,627 | 3.13% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 154 | $41,390,000 | $268,766 | $6,141 | 3.09% |
| BOISE CITY, ID (FHA|USDA|VA) | 89 | $34,645,000 | $389,270 | $6,841 | 3.37% |
| Heber, UT (FHA|USDA|VA) | 66 | $28,230,000 | $427,727 | $5,009 | 2.94% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 69 | $27,645,000 | $400,652 | $4,086 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 149 | $23,485,000 | $157,617 | $5,612 | 3.54% |
| Cedar City, UT (FHA|USDA|VA) | 78 | $20,250,000 | $259,615 | $4,891 | 3.15% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 48 | $14,830,000 | $308,958 | $5,814 | 3.14% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 29 | $13,105,000 | $451,897 | $5,762 | 3.49% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 32 | $10,890,000 | $340,313 | $6,167 | 2.99% |
| Blackfoot, ID (FHA|USDA|VA) | 38 | $10,100,000 | $265,789 | $6,300 | 2.91% |
| Elko, NV (FHA|USDA|VA) | 41 | $9,555,000 | $233,049 | $5,065 | 3.04% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 38 | $8,610,000 | $226,579 | $5,139 | 3.28% |
| Vernal, UT (FHA|USDA|VA) | 26 | $5,800,000 | $223,077 | $4,213 | 3.29% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 12 | $5,750,000 | $479,167 | $6,779 | 3.03% |
| Burley, ID (FHA|USDA|VA) | 22 | $5,290,000 | $240,455 | $7,089 | 3.09% |
| Rexburg, ID (FHA|USDA|VA) | 16 | $4,800,000 | $300,000 | $7,123 | 2.97% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 29 | $4,645,000 | $160,172 | $5,041 | 3.29% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 13 | $4,435,000 | $341,154 | $3,702 | 2.79% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 28 | $4,160,000 | $148,571 | $4,974 | 3.58% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 5 | $2,735,000 | $547,000 | $7,482 | 3.13% |
| Price, UT (FHA|USDA|VA) | 13 | $2,735,000 | $210,385 | $4,355 | 3.01% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $2,680,000 | $446,667 | $4,677 | 2.98% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $2,515,000 | $359,286 | $4,582 | 3.09% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 5 | $2,065,000 | $413,000 | $6,400 | 3.28% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $2,035,000 | $290,714 | $8,213 | 3.46% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $1,845,000 | $615,000 | $6,097 | 3.13% |
| TWIN FALLS, ID (FHA|USDA|VA) | 7 | $1,835,000 | $262,143 | $6,566 | 2.68% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $1,620,000 | $405,000 | $4,541 | 3.25% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $1,555,000 | $518,333 | $2,786 | 3.25% |
| Evanston, WY (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $5,885 | 3.30% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 7 | $1,215,000 | $173,571 | $5,737 | 3.64% |
| GREELEY, CO (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $4,152 | 3.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $4,124 | 2.84% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $4,739 | 3.13% |
| Hailey, ID (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $10,776 | 2.88% |
| BOULDER, CO (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $2,266 | 2.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $4,646 | 2.81% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $3,317 | 2.94% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $4,150 | 3.25% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $5,487 | 3.58% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $7,899 | 3.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $5,711 | 3.04% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $3,730 | 2.79% |
| Mountain Home, ID (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $5,964 | 3.04% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $4,329 | 3.88% |
| TULSA, OK (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $8,146 | 2.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,974 | 2.88% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $12,047 | 3.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,137 | 3.38% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $8,793 | 2.88% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $2,186 | 2.75% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,726 | 2.88% |
| RENO, NV (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $17,923 | 2.50% |
| Riverton, WY (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,626 | 3.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,802 | 2.38% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,644 | 3.13% |
| Outside of Metro Areas | 1 | $395,000 | $395,000 | $8,124 | 3.63% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $7,252 | 3.63% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $10,059 | 2.25% |
| Moscow, ID (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,599 | 3.50% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,965 | 3.25% |
| La Grande, OR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,868 | 3.13% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $14,203 | 3.50% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,187 | 3.38% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,425 | 4.00% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,470 | 3.13% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,896 | 3.00% |
| Astoria, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,396 | 2.75% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,085 | 2.38% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,556 | 2.88% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,244 | 2.75% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,100 | 2.75% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,288 | 3.13% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,150 | 3.25% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,695 | 4.00% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,976 | 2.88% |
| REDDING, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,953 | 2.88% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,492 | 3.13% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,049 | 4.00% |
| Pullman, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,498 | 3.00% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,599 | 3.38% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,561 | 3.63% |
| Rock Springs, WY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,703 | 2.88% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,141 | 3.00% |
First Colony Mortgage Corporation's top markets include Provo, Salt Lake City, St. George, Ogden, and Logan among others.
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We use machine learning to identify the top lenders compared against FIRST COLONY MORTGAGE CORPORATION 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
For 2021, First Colony Mortgage Corporation's most frequently originated type of loan was Conventional, with 8,826 originations. Their 2nd most popular type was FHA, with 628 originations.
Loan Reason
For 2021, First Colony Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 5,041 originations. The 2nd most popular reason was Refi, with 4,179 originations.
Loan Duration/Length
For 2021, First Colony Mortgage Corporation's most frequently cited loan duration was 30 Year, with 9,056 originations. The 2nd most popular length was 15 Year, with 572 originations.
Origination Fees/Closing Costs
First Colony Mortgage Corporation's average total fees were $5,176, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,687 originations.
Interest Rates
During 2021, First Colony Mortgage Corporation's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 5,217 originations.
Loan Sizing
2021 saw First Colony Mortgage Corporation place emphasis on $200k-400k loans with 5,545 originations, totaling $1,670,125,000 in origination value.
Applicant Income
First Colony Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 2,724 originations. The second most popular income band? $100k-150k, with 2,252 originations.
Applicant Debt to Income Ratio
First Colony Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 1,993 originations. The next most common DTI ratio? 30-36%, with 1,880 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.63%
First Colony Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.87%
First Colony Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 9,933 | $3,275,525,000 | $329,762 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 9,933 | $3,275,525,000 | $329,762 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HOME MORTGAGE CORPORATION | Conventional home mortgage | Closing on a mortgage | 1 | 10.0% |
| FIRST HOME MORTGAGE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
| FIRST HOME MORTGAGE CORPORATION | Other type of mortgage | Closing on a mortgage | 1 | 10.0% |
| FIRST HOME MORTGAGE CORPORATION | Conventional home mortgage | Trouble during payment process | 7 | 70.0% |
