First American Mortgage Rates, Fees & Info

YUKON, OK

LEI: 5493006KM0C07F0DE248

Tax ID: 73-1432800

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    First American Mortgage is a smaller mortgage company specializing in Home Purchase loans. First American Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Oklahoma City, Weatherford, Stillwater, Tulsa, and Lawton among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First American Mortgage 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. First American Mortgage is typically a low 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.

    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 6.76% 11/17/24
    30 Year Conventional Refi 6.76% 11/17/24
    30 Year Cash-out Refi 6.87% 11/17/24
    30 Year FHA Purchase 7.60% 11/17/24
    30 Year FHA Refi 6.65% 11/17/24
    30 Year VA Purchase 6.10% 11/17/24
    30 Year USDA Purchase 7.79% 11/17/24
    15 Year Conventional Purchase 6.16% 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 American Mortgage Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First American Mortgage. 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

    522

    Origination Dollar Volume (All Markets)

    $94,080,000

    Awards

    FIRST AMERICAN MORTGAGE FHA Loans bronze FIRST AMERICAN MORTGAGE FHA Loans bronze FIRST AMERICAN MORTGAGE VA Loans bronze FIRST AMERICAN MORTGAGE FHA Loans silver
    Show all (4) 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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 469 $85,245,000 $181,759 $4,242 4.60%
    Weatherford, OK (FHA|USDA|VA) 22 $3,990,000 $181,364 $4,826 4.44%
    Outside of Metro Areas 18 $2,550,000 $141,667 $4,481 4.53%
    Stillwater, OK (FHA|USDA|VA) 2 $550,000 $275,000 $3,745 5.06%
    TULSA, OK (FHA|USDA|VA) 3 $425,000 $141,667 $5,251 4.42%
    LAWTON, OK (FHA|USDA|VA) 2 $390,000 $195,000 $3,444 4.54%
    Elk City, OK (FHA|USDA|VA) 1 $265,000 $265,000 $7,019 4.13%
    Durant, OK (FHA|USDA|VA) 1 $225,000 $225,000 $10,434 4.25%
    Altus, OK (FHA|USDA|VA) 1 $205,000 $205,000 $3,299 4.75%
    Shawnee, OK (FHA|USDA|VA) 2 $140,000 $70,000 $3,478 4.13%
    ENID, OK (FHA|USDA|VA) 1 $95,000 $95,000 $2,975 4.63%
    First American Mortgage's top markets include Oklahoma City, Weatherford, Stillwater, Tulsa, and Lawton among others.

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

    • Similar Lenders

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

    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 89
    WEOKIE
    Similarity Rank: 120
    First Fidelity Bank
    Similarity Rank: 180
    TRUE SKY
    Similarity Rank: 240
    Washita Mortgage, Inc.
    Similarity Rank: 564
    US Employees O.C. Federal Credit Union
    Similarity Rank: 620
    OKLAHOMA'S
    Similarity Rank: 714
    CWM PARTNERS, L.P.
    Similarity Rank: 918
    COMMUNICATION
    Similarity Rank: 1020
    Republic Bank & Trust
    Similarity Rank: 1177

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 254 $50,220,000 $197,717 $3,213 4.72%
    FHA 200 $30,230,000 $151,150 $5,384 4.49%
    VA 55 $12,215,000 $222,091 $5,316 4.37%
    USDA 13 $1,415,000 $108,846 $3,838 4.51%

    For 2018, First American Mortgage's most frequently originated type of loan was Conventional, with 254 originations. Their 2nd most popular type was FHA, with 200 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 473 $84,785,000 $179,249 $4,290 4.59%
    Cash Out Refi 29 $4,625,000 $159,483 $4,651 4.62%
    Refi 20 $4,670,000 $233,500 $3,668 4.54%

    For 2018, First American Mortgage's most frequently cited loan purpose was Home Purchase, with 473 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 478 $86,040,000 $180,000 $4,356 4.62%
    15 Year 34 $6,110,000 $179,706 $3,688 4.10%
    20 Year 7 $1,325,000 $189,286 $2,991 4.61%
    10 Year 2 $150,000 $75,000 $2,759 4.13%
    Other 1 $455,000 $455,000 $3,454 4.50%

    For 2018, First American Mortgage's most frequently cited loan duration was 30 Year, with 478 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 453 $83,095,000 $183,433
    $1k-2k 43 $5,595,000 $130,116
    $2k-3k 15 $2,485,000 $165,667
    $3k-4k 4 $640,000 $160,000
    $5k+ 3 $795,000 $265,000
    $4k-5k 2 $1,180,000 $590,000

    First American Mortgage's average total fees were $4,356, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 453 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 387 $71,595,000 $185,000
    3-4% 68 $12,520,000 $184,118
    5-6% 61 $9,185,000 $150,574
    6-7% 6 $780,000 $130,000

    During 2018, First American Mortgage's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 387 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 274 $39,880,000 $145,547 $4,207 4.60%
    $200k-400k 145 $37,855,000 $261,069 $4,888 4.49%
    $100,000 or less 81 $6,305,000 $77,840 $3,464 4.73%
    $400k-600k 21 $9,235,000 $439,762 $4,156 4.49%
    $600k-1MM 1 $805,000 $805,000 $7,775 5.25%

    2018 saw First American Mortgage place emphasis on $100k-200k loans with 274 originations, totaling $39,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 137 $19,635,000 $143,321 $4,432 4.67%
    $50k or less 119 $13,955,000 $117,269 $4,097 4.55%
    $75k-100k 107 $19,845,000 $185,467 $4,582 4.56%
    $100k-150k 101 $22,515,000 $222,921 $4,225 4.58%
    $150k-250k 44 $13,500,000 $306,818 $3,879 4.53%
    $250k+ 14 $4,630,000 $330,714 $3,945 4.66%

    First American Mortgage lent most frequently to those with incomes in the $50k-75k range, with 137 originations. The second most popular income band? $50k or less, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 140 $26,460,000 $189,000 $4,045 4.61%
    30-36% 115 $21,255,000 $184,826 $4,173 4.60%
    <20% 31 $5,855,000 $188,871 $3,429 4.66%
    44% 28 $5,110,000 $182,500 $4,599 4.70%
    39% 21 $3,125,000 $148,810 $4,131 4.77%
    36% 21 $3,805,000 $181,190 $4,439 4.56%
    43% 21 $3,975,000 $189,286 $5,249 4.41%
    38% 19 $2,955,000 $155,526 $4,422 4.30%
    41% 17 $3,095,000 $182,059 $4,080 4.54%
    40% 16 $2,790,000 $174,375 $5,155 4.54%
    37% 16 $2,790,000 $174,375 $4,633 4.42%
    46% 14 $2,320,000 $165,714 $4,808 4.45%
    42% 12 $2,070,000 $172,500 $3,749 4.65%
    48% 12 $1,830,000 $152,500 $4,672 4.79%
    47% 11 $1,565,000 $142,273 $5,027 4.71%
    49% 11 $2,195,000 $199,545 $5,150 4.51%
    45% 11 $1,945,000 $176,818 $3,906 4.64%
    50-60% 6 $940,000 $156,667 $5,254 4.26%

    First American Mortgage lent most frequently to those with DTI ratios of 20-30%, with 140 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 455 $82,095,000 $180,429 $4,226 4.60%
    American Indian 38 $7,310,000 $192,368 $4,967 4.46%
    Asian 13 $1,785,000 $137,308 $4,278 4.73%
    Black 10 $1,630,000 $163,000 $4,305 4.56%
    Not provided 5 $1,095,000 $219,000 $4,264 4.38%
    Asian Indian 1 $165,000 $165,000 $5,758 4.50%

    Approval Rates

    Total approvals of all applications
    97.44%

    First American Mortgage 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
    91.19%

    First American Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 522 $94,080,000 $180,230

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $825,000 $117,857
    Single Family (1-4 Units):Site-Built 515 $93,255,000 $181,078

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $815,000 $163,000 $2,727 4.22%
    40-60% 23 $3,405,000 $148,043 $3,061 4.60%
    60-80% 90 $16,560,000 $184,000 $3,533 4.63%
    80-100% 393 $70,945,000 $180,522 $4,414 4.59%
    Over 100% 10 $2,280,000 $228,000 $9,897 4.43%
    Under 20% 1 $75,000 $75,000 $1,958 5.38%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Colony Mortgage Corp. FHA mortgage Closing on a mortgage 1 100.0%