First Hope Bank A National Banking Association Mortgage Rates, Fees & Info

Hope, NJ

LEI: 5493003XLOX5FDT9R120

Tax ID: 22-0998445

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Mortgage Data

Review & Overview

First Hope Bank A National Banking Association is a smaller bank specializing in Home Improvement, Home Purchase, and Refi loans. First Hope Bank A National Banking Association has a high proportion of conventional 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: New York, Allentown, East Stroudsburg, Baltimore, and Las Vegas among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Hope Bank A National Banking Association has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

82

Origination Dollar Volume (All Markets)

$14,950,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 42 $9,160,000 $218,095 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 31 $3,245,000 $104,677 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 5 $1,385,000 $277,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
First Hope Bank A National Banking Association's top markets include New York, Allentown, East Stroudsburg, Baltimore, and Las Vegas among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $14,450,000 $180,625 $0 0.00%
    FHA 2 $500,000 $250,000 $0 0.00%

    For 2023, First Hope Bank A National Banking Association's most frequently originated type of loan was Conventional, with 80 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 29 $3,065,000 $105,690 $0 0.00%
    Home Purchase 19 $6,505,000 $342,368 $0 0.00%
    Refi 17 $3,235,000 $190,294 $0 0.00%
    Other 15 $1,685,000 $112,333 $0 0.00%
    Cash Out Refi 2 $460,000 $230,000 $0 0.00%

    For 2023, First Hope Bank A National Banking Association's most frequently cited loan purpose was Home Improvement, with 29 originations. The 2nd most popular reason was Home Purchase, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 82 $14,950,000 $182,317 $0 0.00%

    For 2023, First Hope Bank A National Banking Association's most frequently cited loan duration was Other, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $1,660,000 $48,824 $0 0.00%
    $200k-400k 20 $5,210,000 $260,500 $0 0.00%
    $100k-200k 17 $2,375,000 $139,706 $0 0.00%
    $400k-600k 9 $4,465,000 $496,111 $0 0.00%
    $600k-1MM 2 $1,240,000 $620,000 $0 0.00%

    2023 saw First Hope Bank A National Banking Association place emphasis on $100,000 or less loans with 34 originations, totaling $1,660,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 25 $4,695,000 $187,800 $0 0.00%
    $100k-150k 20 $2,730,000 $136,500 $0 0.00%
    $250k+ 12 $3,800,000 $316,667 $0 0.00%
    $75k-100k 10 $1,420,000 $142,000 $0 0.00%
    $50k-75k 9 $1,155,000 $128,333 $0 0.00%
    $50k or less 1 $25,000 $25,000 $0 0.00%

    First Hope Bank A National Banking Association lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $100k-150k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 82 $14,950,000 $182,317 $0 0.00%

    First Hope Bank A National Banking Association lent most frequently to those with DTI ratios of Exempt%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 63 $11,735,000 $186,270 $0 0.00%
    Not provided 12 $1,380,000 $115,000 $0 0.00%
    Not applicable 4 $1,080,000 $270,000 $0 0.00%
    Asian 2 $700,000 $350,000 $0 0.00%
    Black 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.62%

    First Hope Bank A National Banking Association has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.59%

    First Hope Bank A National Banking Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 82 $14,950,000 $182,317

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    82 $14,950,000 $182,317