Palm Beach First Financial & Mortgage Company Rates, Fees & Info

West Palm Beach, FL

LEI: 54930041G5GFMURNTN14

Tax ID: 11-3692254

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Palm Beach First Financial & Mortgage Company is a smaller mortgage company specializing in Home Purchase and Refi loans. Palm Beach First Financial & Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Miami, Naples, North Port, Palm Bay, and Tampa among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Palm Beach First Financial & Mortgage Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Palm Beach First Financial & Mortgage Company 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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    Originations

    112

    Origination Dollar Volume (All Markets)

    $35,040,000

    Awards

    PALM BEACH FIRST FINANCIAL & MORTGAGE COMPANY FHA Loans silver PALM BEACH FIRST FINANCIAL & MORTGAGE COMPANY FHA Loans bronze
    Show all (2) awards

    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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 98 $31,180,000 $318,163 $5,508 3.15%
    Outside of Metro Areas 5 $1,575,000 $315,000 $3,482 2.87%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,562 2.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $345,000 $345,000 $2,887 3.63%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $9,093 2.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $325,000 $325,000 $2,805 2.63%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $315,000 $315,000 $2,887 2.88%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $270,000 $135,000 $2,704 3.31%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,096 2.75%
    OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,451 3.63%
    Palm Beach First Financial & Mortgage Company's top markets include Miami, Naples, North Port, Palm Bay, and Tampa among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PALM BEACH FIRST FINANCIAL & MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    We Florida Financial
    Similarity Rank: 638
    POWER FINANCIAL
    Similarity Rank: 870
    Florida Home Trust Mortgage, Inc.
    Similarity Rank: 2127
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2268
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2646
    Chicago Financial Services, Inc.
    Similarity Rank: 2736
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 2976
    GET A RATE LLC
    Similarity Rank: 3094
    CROSSFIRE FINANCIAL NETWORK, INC.
    Similarity Rank: 3135

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 89 $28,365,000 $318,708 $4,491 3.17%
    FHA 19 $4,995,000 $262,895 $7,894 3.06%
    VA 4 $1,680,000 $420,000 $11,683 2.53%

    For 2020, Palm Beach First Financial & Mortgage Company's most frequently originated type of loan was Conventional, with 89 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $17,830,000 $297,167 $5,881 3.12%
    Refi 33 $10,955,000 $331,970 $4,088 3.05%
    Cash Out Refi 19 $6,255,000 $329,211 $5,716 3.31%

    For 2020, Palm Beach First Financial & Mortgage Company's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 91 $28,985,000 $318,516 $5,615 3.16%
    15 Year 10 $2,370,000 $237,000 $4,044 2.89%
    20 Year 6 $1,960,000 $326,667 $4,139 3.32%
    Other 4 $1,260,000 $315,000 $4,321 2.98%
    10 Year 1 $465,000 $465,000 $2,859 2.50%

    For 2020, Palm Beach First Financial & Mortgage Company's most frequently cited loan duration was 30 Year, with 91 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 58 $20,030,000 $345,345
    $<1k 21 $5,835,000 $277,857
    $2k-3k 13 $2,925,000 $225,000
    $3k-4k 8 $1,920,000 $240,000
    $5k+ 7 $2,765,000 $395,000
    $4k-5k 5 $1,565,000 $313,000

    Palm Beach First Financial & Mortgage Company's average total fees were $5,615, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 58 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 62 $18,580,000 $299,677
    3-4% 41 $12,695,000 $309,634
    <2.5% 7 $2,575,000 $367,857
    6-7% 2 $1,190,000 $595,000

    During 2020, Palm Beach First Financial & Mortgage Company's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 71 $20,515,000 $288,944 $5,363 3.08%
    $400k-600k 21 $10,215,000 $486,429 $5,507 3.08%
    $100k-200k 17 $2,655,000 $156,176 $4,325 3.19%
    $600k-1MM 2 $1,580,000 $790,000 $11,146 4.94%
    $100,000 or less 1 $75,000 $75,000 $4,182 2.88%

    2020 saw Palm Beach First Financial & Mortgage Company place emphasis on $200k-400k loans with 71 originations, totaling $20,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $9,750,000 $325,000 $6,555 3.03%
    $75k-100k 23 $6,235,000 $271,087 $4,739 3.17%
    $150k-250k 21 $7,675,000 $365,476 $4,464 3.23%
    $50k-75k 21 $4,785,000 $227,857 $5,389 3.04%
    $250k+ 12 $5,280,000 $440,000 $4,847 3.36%
    $50k or less 5 $1,315,000 $263,000 $5,135 2.92%

    Palm Beach First Financial & Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $75k-100k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $7,565,000 $280,185 $5,421 3.09%
    30-36% 19 $6,425,000 $338,158 $4,843 3.22%
    50-60% 10 $2,740,000 $274,000 $7,282 2.92%
    45% 8 $2,740,000 $342,500 $6,571 3.14%
    36% 7 $3,185,000 $455,000 $5,437 3.65%
    44% 5 $1,505,000 $301,000 $5,210 3.63%
    49% 5 $1,385,000 $277,000 $3,620 2.97%
    <20% 4 $1,190,000 $297,500 $3,384 2.94%
    37% 4 $1,200,000 $300,000 $6,303 3.26%
    39% 4 $1,600,000 $400,000 $3,891 2.93%
    40% 4 $1,410,000 $352,500 $3,793 3.00%
    46% 4 $800,000 $200,000 $4,674 2.97%
    38% 3 $845,000 $281,667 $3,589 3.06%
    48% 2 $700,000 $350,000 $9,156 2.56%
    41% 2 $520,000 $260,000 $3,928 3.56%
    43% 2 $820,000 $410,000 $9,279 2.69%
    42% 1 $175,000 $175,000 $3,811 3.00%
    47% 1 $235,000 $235,000 $2,928 2.90%

    Palm Beach First Financial & Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $29,445,000 $316,613 $5,248 3.15%
    Not provided 10 $3,240,000 $324,000 $5,841 2.95%
    Black 4 $1,020,000 $255,000 $5,765 3.03%
    Asian 3 $805,000 $268,333 $5,773 3.00%
    Other Asian 1 $315,000 $315,000 $5,915 3.50%
    Other Pacific Islander 1 $215,000 $215,000 $3,662 3.13%

    Approval Rates

    Total approvals of all applications
    96.67%

    Palm Beach First Financial & Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    99.11%

    Palm Beach First Financial & Mortgage Company has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 112 $35,040,000 $312,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 112 $35,040,000 $312,857

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $440,000 $220,000 $4,337 2.85%
    40-60% 14 $3,990,000 $285,000 $4,030 3.09%
    60-80% 51 $17,385,000 $340,882 $4,976 3.17%
    80-100% 44 $12,770,000 $290,227 $5,811 3.12%
    Over 100% 1 $455,000 $455,000 $21,841 2.88%