First Colony Mortgage Corporation Rates, Fees & Info
OREM, UTLEI: 5493003V40VGM7YDFM54
Tax ID: 87-0415314
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
First Colony Mortgage Corporation is a small mortgage company specializing in Home Purchase 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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Provo, Salt Lake City, St. George, Ogden, and Logan among others. We have data for 146 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 a high 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 relatively high 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 | 6.61% | 11/17/24 |
| 30 Year Conventional Refi | 6.60% | 11/17/24 |
| 30 Year Cash-out Refi | 6.62% | 11/17/24 |
| 30 Year FHA Purchase | 7.13% | 11/17/24 |
| 30 Year FHA Refi | 7.03% | 11/17/24 |
| 30 Year VA Purchase | 5.87% | 11/17/24 |
| 30 Year VA Refi | 6.12% | 11/17/24 |
| 30 Year USDA Purchase | 6.33% | 11/17/24 |
| 15 Year Conventional Purchase | 6.70% | 11/17/24 |
| 15 Year Conventional Refi | 6.06% | 11/17/24 |
| 15 Year Cash-out Refi | 6.06% | 11/17/24 |
| 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 Colony Mortgage Corporation Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from First Colony Mortgage Corporation. 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
3,647Origination Dollar Volume (All Markets)
$1,347,175,000Awards
FIRST COLONY MORTGAGE CORPORATION - 2023
FIRST COLONY MORTGAGE CORPORATION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for FIRST COLONY MORTGAGE CORPORATION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
First Colony Mortgage Corporation's average 30 year fixed mortgage rate was
6.59%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.11%.
Relative Fees (Closing Costs)
First Colony Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,276.
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 $9,089.
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) | 1,178 | $486,440,000 | $412,937 | $10,793 | 6.45% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 515 | $225,375,000 | $437,621 | $12,165 | 6.52% |
| ST. GEORGE, UT (FHA|USDA|VA) | 227 | $92,735,000 | $408,524 | $10,639 | 6.68% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 219 | $83,755,000 | $382,443 | $10,811 | 6.55% |
| LOGAN, UT-ID (FHA|USDA|VA) | 215 | $77,885,000 | $362,256 | $9,905 | 6.51% |
| Outside of Metro Areas | 141 | $35,515,000 | $251,879 | $8,288 | 6.68% |
| POCATELLO, ID (FHA|USDA|VA) | 126 | $32,900,000 | $261,111 | $7,384 | 6.90% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 96 | $29,350,000 | $305,729 | $7,364 | 7.20% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 102 | $28,370,000 | $278,137 | $8,619 | 6.57% |
| BOISE CITY, ID (FHA|USDA|VA) | 59 | $23,485,000 | $398,051 | $11,491 | 6.51% |
| Heber, UT (FHA|USDA|VA) | 34 | $19,320,000 | $568,235 | $10,281 | 6.59% |
| Ontario, OR-ID (FHA|USDA|VA) | 66 | $15,540,000 | $235,455 | $9,058 | 6.80% |
| OCALA, FL (FHA|USDA|VA) | 73 | $14,415,000 | $197,466 | $9,018 | 6.10% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 34 | $12,540,000 | $368,824 | $8,568 | 7.09% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 30 | $8,450,000 | $281,667 | $8,516 | 7.18% |
| MISSOULA, MT (FHA|USDA|VA) | 21 | $8,315,000 | $395,952 | $11,318 | 6.54% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 27 | $8,015,000 | $296,852 | $7,578 | 6.14% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 17 | $7,805,000 | $459,118 | $9,495 | 7.16% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 12 | $4,960,000 | $413,333 | $9,000 | 6.73% |
| Cedar City, UT (FHA|USDA|VA) | 12 | $4,930,000 | $410,833 | $12,396 | 6.38% |
| Blackfoot, ID (FHA|USDA|VA) | 20 | $4,880,000 | $244,000 | $5,775 | 6.76% |
| Rexburg, ID (FHA|USDA|VA) | 16 | $4,860,000 | $303,750 | $6,689 | 6.77% |
| Dickinson, ND (FHA|USDA|VA) | 17 | $4,855,000 | $285,588 | $5,777 | 6.35% |
| Vernal, UT (FHA|USDA|VA) | 16 | $4,400,000 | $275,000 | $7,938 | 6.95% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 12 | $4,310,000 | $359,167 | $9,322 | 7.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 15 | $3,805,000 | $253,667 | $12,220 | 6.66% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 19 | $3,785,000 | $199,211 | $7,289 | 6.75% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 10 | $3,290,000 | $329,000 | $7,414 | 7.35% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 9 | $3,185,000 | $353,889 | $5,749 | 7.24% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $2,790,000 | $465,000 | $6,277 | 7.04% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 12 | $2,680,000 | $223,333 | $7,276 | 6.83% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $2,660,000 | $332,500 | $14,679 | 6.72% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 7 | $2,625,000 | $375,000 | $7,763 | 7.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $2,550,000 | $425,000 | $6,730 | 7.29% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 13 | $2,245,000 | $172,692 | $7,862 | 6.47% |
| TWIN FALLS, ID (FHA|USDA|VA) | 7 | $2,215,000 | $316,429 | $8,165 | 6.82% |
| Burley, ID (FHA|USDA|VA) | 6 | $2,200,000 | $366,667 | $10,796 | 7.33% |
| RAPID CITY, SD (FHA|USDA|VA) | 7 | $2,015,000 | $287,857 | $6,473 | 5.95% |
| LYNCHBURG, VA (FHA|USDA|VA) | 8 | $1,870,000 | $233,750 | $6,516 | 7.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 9 | $1,855,000 | $206,111 | $10,078 | 6.18% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 5 | $1,825,000 | $365,000 | $8,315 | 7.43% |
| TULSA, OK (FHA|USDA|VA) | 5 | $1,725,000 | $345,000 | $4,681 | 7.23% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,620,000 | $270,000 | $6,587 | 6.56% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,465,000 | $293,000 | $7,098 | 7.35% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $8,250 | 6.75% |
| Price, UT (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $5,343 | 6.65% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $1,380,000 | $690,000 | $9,796 | 7.81% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $12,219 | 6.29% |
| KNOXVILLE, TN (FHA|USDA|VA) | 7 | $1,345,000 | $192,143 | $6,573 | 7.30% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 5 | $1,335,000 | $267,000 | $7,340 | 7.35% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 8 | $1,330,000 | $166,250 | $4,477 | 6.91% |
| ANN ARBOR, MI (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $7,437 | 7.33% |
| Outside of Metro Areas | 2 | $1,210,000 | $605,000 | $11,787 | 6.94% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $9,329 | 7.08% |
| DECATUR, AL (FHA|USDA|VA) | 2 | $1,130,000 | $565,000 | $13,512 | 7.56% |
| LUBBOCK, TX (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $5,801 | 6.94% |
| RENO, NV (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $12,015 | 7.13% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $7,646 | 7.03% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $5,800 | 7.33% |
| Statesboro, GA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $9,010 | 7.08% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $13,915 | 6.31% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $6,940 | 7.42% |
| ROANOKE, VA (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $14,520 | 6.83% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $6,646 | 7.20% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $12,630 | 7.21% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $20,754 | 6.50% |
| Mountain Home, ID (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $8,832 | 6.03% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $12,550 | 6.63% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $7,882 | 7.50% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $8,989 | 6.83% |
| Liberal, KS (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $4,771 | 6.75% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $4,214 | 6.44% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $7,791 | 7.56% |
| Lewisburg, TN (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $5,421 | 6.08% |
| FLINT, MI (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $6,111 | 7.23% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $9,370 | 6.50% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $5,052 | 6.94% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $12,639 | 7.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $13,319 | 7.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $2,739 | 8.13% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $8,883 | 7.06% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $7,308 | 7.31% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $27,913 | 6.13% |
| CASPER, WY (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $9,545 | 7.19% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $17,155 | 6.13% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,839 | 7.63% |
| MONROE, LA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $11,382 | 5.81% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $9,366 | 6.75% |
| Milledgeville, GA (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,157 | 7.21% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $9,024 | 7.44% |
| Helena, MT (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $8,537 | 6.69% |
| McMinnville, TN (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $4,761 | 7.13% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,075 | 7.19% |
| Centralia, WA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $7,015 | 8.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $12,047 | 8.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $11,440 | 7.63% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $10,998 | 6.88% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,391 | 7.31% |
| Cordele, GA (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $6,159 | 7.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $11,003 | 6.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,550 | 7.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,811 | 6.94% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $21,387 | 6.75% |
| Albertville, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,107 | 7.63% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $7,420 | 8.50% |
| Fernley, NV (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $13,171 | 7.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,900 | 6.75% |
| Columbus, MS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,792 | 8.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $12,948 | 6.63% |
| Dublin, GA (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $5,011 | 7.13% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $10,888 | 6.88% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,171 | 8.00% |
| GREAT FALLS, MT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,561 | 6.75% |
| CLEVELAND, TN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,474 | 7.13% |
| Laurel, MS (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $8,616 | 6.88% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,436 | 7.25% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $2,051 | 6.94% |
| Meridian, MS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $12,348 | 7.25% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,405 | 7.38% |
| TYLER, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,832 | 5.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,758 | 7.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $13,884 | 5.63% |
| Athens, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $14,684 | 5.75% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,487 | 7.75% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,808 | 6.25% |
| DALTON, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,267 | 7.00% |
| DuBois, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,237 | 7.25% |
| Dodge City, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,463 | 5.38% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,623 | 6.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,858 | 7.25% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,487 | 7.63% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,772 | 7.13% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,858 | 7.50% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,765 | 8.00% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,240 | 7.50% |
| Susanville, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,797 | 7.13% |
| Greenville, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,134 | 7.25% |
| BECKLEY, WV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,407 | 7.25% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,709 | 7.25% |
| Murray, KY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,205 | 7.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,752 | 7.13% |
| McComb, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,276 | 5.88% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,547 | 6.88% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,945 | 6.38% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,721 | 7.00% |
| Minden, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,930 | 7.50% |
Similar Lenders
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.
Similarity Rank: 64
Similarity Rank: 72
Similarity Rank: 72
Similarity Rank: 176
Similarity Rank: 210
Similarity Rank: 258
Similarity Rank: 261
Similarity Rank: 285
Similarity Rank: 288
Similarity Rank: 300
Product Mix
For 2023, First Colony Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,702 originations. Their 2nd most popular type was FHA, with 730 originations.
Loan Reason
For 2023, First Colony Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3,436 originations. The 2nd most popular reason was Refi, with 180 originations.
Loan Duration/Length
For 2023, First Colony Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3,523 originations. The 2nd most popular length was 15 Year, with 90 originations.
Origination Fees/Closing Costs
First Colony Mortgage Corporation's average total fees were $10,276, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,955 originations.
Interest Rates
During 2023, First Colony Mortgage Corporation's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 6-7%, with 1,594 originations.
Loan Sizing
2023 saw First Colony Mortgage Corporation place emphasis on $200k-400k loans with 1,609 originations, totaling $488,225,000 in origination value.
Applicant Income
First Colony Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 1,100 originations. The second most popular income band? $75k-100k, with 844 originations.
Applicant Debt to Income Ratio
First Colony Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 493 originations. The next most common DTI ratio? 20-30%, with 443 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.96%
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 origination80.53%
First Colony Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,647 | $1,347,175,000 | $369,393 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,647 | $1,347,175,000 | $369,393 |