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 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. Their top markets by origination volume include: Provo, Salt Lake City, St. George, Ogden, and Logan among others. We have data for 96 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 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 | 6.61% | 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,702Origination Dollar Volume (All Markets)
$1,839,940,000Awards
FIRST COLONY MORTGAGE CORPORATION - 2022
FIRST COLONY MORTGAGE CORPORATION is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| PROVO-OREM, UT (FHA|USDA|VA) | 1,824 | $782,500,000 | $429,002 | $8,401 | 4.66% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 642 | $280,200,000 | $436,449 | $8,761 | 4.81% |
| ST. GEORGE, UT (FHA|USDA|VA) | 429 | $181,435,000 | $422,925 | $8,564 | 4.72% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 350 | $142,370,000 | $406,771 | $8,634 | 4.63% |
| LOGAN, UT-ID (FHA|USDA|VA) | 294 | $111,860,000 | $380,476 | $8,508 | 4.81% |
| Outside of Metro Areas | 164 | $40,750,000 | $248,476 | $7,211 | 4.91% |
| POCATELLO, ID (FHA|USDA|VA) | 126 | $31,750,000 | $251,984 | $7,251 | 4.62% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 95 | $31,635,000 | $333,000 | $9,484 | 5.05% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 93 | $27,995,000 | $301,022 | $7,855 | 5.18% |
| Ontario, OR-ID (FHA|USDA|VA) | 101 | $26,345,000 | $260,842 | $8,880 | 4.74% |
| BOISE CITY, ID (FHA|USDA|VA) | 67 | $25,365,000 | $378,582 | $11,340 | 5.21% |
| OCALA, FL (FHA|USDA|VA) | 114 | $22,720,000 | $199,298 | $7,738 | 5.16% |
| Heber, UT (FHA|USDA|VA) | 38 | $18,760,000 | $493,684 | $9,730 | 5.15% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 36 | $15,150,000 | $420,833 | $9,604 | 4.84% |
| Cedar City, UT (FHA|USDA|VA) | 45 | $14,445,000 | $321,000 | $8,160 | 4.96% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 23 | $10,275,000 | $446,739 | $10,991 | 5.22% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 14 | $5,280,000 | $377,143 | $7,207 | 5.13% |
| Rexburg, ID (FHA|USDA|VA) | 14 | $4,280,000 | $305,714 | $9,853 | 4.70% |
| Blackfoot, ID (FHA|USDA|VA) | 21 | $3,745,000 | $178,333 | $6,292 | 4.93% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 9 | $3,585,000 | $398,333 | $8,032 | 5.24% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $3,320,000 | $553,333 | $9,078 | 3.88% |
| Price, UT (FHA|USDA|VA) | 16 | $2,710,000 | $169,375 | $5,953 | 5.29% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $2,690,000 | $448,333 | $8,389 | 5.04% |
| Dickinson, ND (FHA|USDA|VA) | 8 | $2,530,000 | $316,250 | $6,403 | 6.42% |
| MISSOULA, MT (FHA|USDA|VA) | 5 | $2,385,000 | $477,000 | $13,540 | 6.00% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 11 | $2,235,000 | $203,182 | $7,776 | 5.40% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $2,095,000 | $299,286 | $8,804 | 5.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $2,085,000 | $417,000 | $8,772 | 4.23% |
| Vernal, UT (FHA|USDA|VA) | 11 | $1,935,000 | $175,909 | $6,792 | 4.77% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 9 | $1,785,000 | $198,333 | $8,175 | 5.57% |
| Evanston, WY (FHA|USDA|VA) | 8 | $1,770,000 | $221,250 | $7,109 | 5.20% |
| Elko, NV (FHA|USDA|VA) | 6 | $1,770,000 | $295,000 | $9,328 | 4.94% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $1,745,000 | $581,667 | $7,063 | 6.00% |
| Jackson, WY-ID (FHA|USDA|VA) | 3 | $1,725,000 | $575,000 | $17,392 | 5.92% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 8 | $1,560,000 | $195,000 | $7,248 | 5.77% |
| TWIN FALLS, ID (FHA|USDA|VA) | 7 | $1,555,000 | $222,143 | $6,581 | 4.30% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $11,786 | 4.03% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $7,833 | 3.71% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $5,862 | 3.94% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $9,554 | 4.94% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $6,540 | 7.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $9,266 | 4.44% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $14,619 | 6.38% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $5,446 | 3.63% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $9,313 | 7.21% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $15,851 | 6.00% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $17,378 | 6.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $12,528 | 4.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $10,205 | 5.50% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $7,736 | 6.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $7,661 | 5.94% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $8,553 | 5.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $6,104 | 4.63% |
| Burley, ID (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $9,595 | 4.31% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $8,775 | 5.50% |
| Pahrump, NV (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $5,424 | 6.06% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,855 | 5.13% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $8,807 | 4.63% |
| Helena, MT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $436 | 6.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,919 | 4.38% |
| Hailey, ID (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $11,875 | 7.00% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $8,653 | 5.38% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,632 | 6.50% |
| TULSA, OK (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $6,186 | 6.58% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $8,295 | 5.19% |
| Newport, OR (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $14,718 | 3.88% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,350 | 5.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,024 | 4.44% |
| MERCED, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $9,595 | 4.88% |
| RENO, NV (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $10,148 | 5.63% |
| Mountain Home, ID (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $17,806 | 5.75% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $6,265 | 3.88% |
| Liberal, KS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,745 | 6.13% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,802 | 4.38% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,508 | 6.63% |
| Laramie, WY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $15,434 | 6.13% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,640 | 5.13% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $12,054 | 6.50% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,105 | 5.75% |
| BEND, OR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,771 | 5.50% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,295 | 3.88% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,095 | 4.38% |
| Rock Springs, WY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,316 | 5.13% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,755 | 5.38% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,460 | 6.00% |
| Safford, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,325 | 5.88% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,241 | 3.13% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,120 | 3.13% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,562 | 6.00% |
| Sterling, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,031 | 4.88% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,463 | 3.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,340 | 4.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $8,137 | 7.50% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,851 | 4.38% |
| Riverton, WY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,970 | 6.88% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,921 | 4.25% |
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Product Mix
For 2022, First Colony Mortgage Corporation's most frequently originated type of loan was Conventional, with 3,976 originations. Their 2nd most popular type was FHA, with 478 originations.
Loan Reason
For 2022, First Colony Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3,800 originations. The 2nd most popular reason was Refi, with 725 originations.
Loan Duration/Length
For 2022, First Colony Mortgage Corporation's most frequently cited loan duration was 30 Year, with 4,501 originations. The 2nd most popular length was 15 Year, with 146 originations.
Origination Fees/Closing Costs
First Colony Mortgage Corporation's average total fees were $8,616, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 2,127 originations.
Interest Rates
During 2022, First Colony Mortgage Corporation's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 4-5%, with 1,351 originations.
Loan Sizing
2022 saw First Colony Mortgage Corporation place emphasis on $200k-400k loans with 2,050 originations, totaling $635,910,000 in origination value.
Applicant Income
First Colony Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 1,298 originations. The second most popular income band? $75k-100k, with 1,066 originations.
Applicant Debt to Income Ratio
First Colony Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 760 originations. The next most common DTI ratio? 20-30%, with 587 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.76%
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 origination80.50%
First Colony Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,702 | $1,839,940,000 | $391,310 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,702 | $1,839,940,000 | $391,310 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |