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

Jump to:

  • 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 and Refi loans. First American Mortgage 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: Oklahoma City, Weatherford, Tulsa, Lawton, and Stillwater 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% 11/22/24
    30 Year Conventional Refi 6.76% 11/22/24
    30 Year Cash-out Refi 6.87% 11/22/24
    30 Year FHA Purchase 7.60% 11/22/24
    30 Year FHA Refi 6.65% 11/22/24
    30 Year VA Purchase 6.10% 11/22/24
    30 Year USDA Purchase 7.79% 11/22/24
    15 Year Conventional Purchase 6.16% 11/22/24
    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

    754

    Origination Dollar Volume (All Markets)

    $159,450,000

    Awards

    FIRST AMERICAN MORTGAGE 30 Year Conventional Loans silver FIRST AMERICAN MORTGAGE FHA Loans gold FIRST AMERICAN MORTGAGE FHA Loans gold FIRST AMERICAN MORTGAGE USDA Loans gold
    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) 698 $148,560,000 $212,837 $3,262 3.13%
    Weatherford, OK (FHA|USDA|VA) 18 $3,420,000 $190,000 $3,186 2.80%
    Outside of Metro Areas 17 $3,225,000 $189,706 $3,166 3.27%
    TULSA, OK (FHA|USDA|VA) 6 $1,410,000 $235,000 $5,123 2.98%
    LAWTON, OK (FHA|USDA|VA) 7 $915,000 $130,714 $3,742 2.93%
    Stillwater, OK (FHA|USDA|VA) 2 $630,000 $315,000 $4,248 3.00%
    Shawnee, OK (FHA|USDA|VA) 2 $370,000 $185,000 $5,230 2.81%
    Durant, OK (FHA|USDA|VA) 1 $365,000 $365,000 $4,296 2.50%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $265,000 $265,000 $3,238 2.88%
    Altus, OK (FHA|USDA|VA) 1 $215,000 $215,000 $3,073 2.88%
    Ponca City, OK (FHA|USDA|VA) 1 $75,000 $75,000 $4,448 3.75%
    First American Mortgage's top markets include Oklahoma City, Weatherford, Tulsa, Lawton, and Stillwater 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.

    TRUE SKY
    Similarity Rank: 168
    WEOKIE
    Similarity Rank: 420
    ALLEGIANCE
    Similarity Rank: 432
    Republic Bank & Trust
    Similarity Rank: 512
    TTCU Federal Credit Union
    Similarity Rank: 650
    US Employees O.C. Federal Credit Union
    Similarity Rank: 836
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 880
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 920
    Central Bank of Oklahoma
    Similarity Rank: 960
    InterBank
    Similarity Rank: 1148

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 455 $98,825,000 $217,198 $2,730 3.10%
    FHA 179 $31,605,000 $176,564 $4,214 3.29%
    VA 101 $26,465,000 $262,030 $4,395 2.94%
    USDA 19 $2,555,000 $134,474 $2,036 3.09%

    For 2020, First American Mortgage's most frequently originated type of loan was Conventional, with 455 originations. Their 2nd most popular type was FHA, with 179 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 533 $110,335,000 $207,008 $3,074 3.17%
    Refi 164 $37,560,000 $229,024 $3,674 2.90%
    Cash Out Refi 57 $11,555,000 $202,719 $4,174 3.30%

    For 2020, First American Mortgage's most frequently cited loan purpose was Home Purchase, with 533 originations. The 2nd most popular reason was Refi, with 164 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 660 $140,950,000 $213,561 $3,265 3.17%
    15 Year 69 $13,205,000 $191,377 $3,315 2.73%
    20 Year 18 $3,870,000 $215,000 $3,553 2.92%
    Other 6 $1,240,000 $206,667 $4,634 2.85%
    10 Year 1 $185,000 $185,000 $3,353 2.38%

    For 2020, First American Mortgage's most frequently cited loan duration was 30 Year, with 660 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 660 $144,080,000 $218,303
    $1k-2k 53 $7,795,000 $147,075
    $2k-3k 28 $4,970,000 $177,500
    $3k-4k 10 $1,750,000 $175,000
    $4k-5k 2 $640,000 $320,000
    $5k+ 1 $215,000 $215,000

    First American Mortgage's average total fees were $3,265, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 660 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 320 $72,250,000 $225,781
    3-4% 314 $61,040,000 $194,395
    <2.5% 87 $19,725,000 $226,724
    4-5% 32 $6,360,000 $198,750
    5-6% 1 $75,000 $75,000

    During 2020, First American Mortgage's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 320 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 352 $53,420,000 $151,761 $3,118 3.16%
    $200k-400k 287 $78,115,000 $272,178 $3,477 3.01%
    $100,000 or less 67 $5,135,000 $76,642 $2,852 3.44%
    $400k-600k 46 $21,430,000 $465,870 $3,973 3.01%
    $600k-1MM 2 $1,350,000 $675,000 $4,687 4.00%

    2020 saw First American Mortgage place emphasis on $100k-200k loans with 352 originations, totaling $53,420,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 190 $32,780,000 $172,526 $3,304 3.10%
    $100k-150k 165 $41,205,000 $249,727 $3,348 3.04%
    $50k or less 145 $21,215,000 $146,310 $3,106 3.18%
    $75k-100k 133 $27,095,000 $203,722 $3,334 3.19%
    $150k-250k 84 $25,150,000 $299,405 $3,191 3.14%
    $250k+ 36 $11,900,000 $330,556 $3,717 3.10%

    First American Mortgage lent most frequently to those with incomes in the $50k-75k range, with 190 originations. The second most popular income band? $100k-150k, with 165 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 214 $45,980,000 $214,860 $3,170 3.06%
    30-36% 145 $27,575,000 $190,172 $3,288 3.12%
    <20% 83 $19,595,000 $236,084 $3,179 2.95%
    36% 33 $6,015,000 $182,273 $2,781 3.21%
    42% 32 $6,370,000 $199,063 $4,366 3.30%
    37% 30 $6,080,000 $202,667 $2,931 3.05%
    41% 29 $7,385,000 $254,655 $3,409 3.02%
    40% 27 $5,315,000 $196,852 $2,879 3.45%
    44% 26 $4,730,000 $181,923 $3,568 3.39%
    39% 22 $5,210,000 $236,818 $3,116 3.51%
    38% 19 $4,645,000 $244,474 $3,455 3.21%
    43% 19 $3,265,000 $171,842 $3,301 3.24%
    45% 19 $4,865,000 $256,053 $3,555 3.19%
    47% 18 $4,090,000 $227,222 $3,700 3.08%
    46% 16 $3,360,000 $210,000 $2,817 3.07%
    49% 10 $1,920,000 $192,000 $3,734 3.18%
    48% 7 $2,015,000 $287,857 $4,671 2.75%
    50-60% 5 $1,035,000 $207,000 $4,985 3.05%

    First American Mortgage lent most frequently to those with DTI ratios of 20-30%, with 214 originations. The next most common DTI ratio? 30-36%, with 145 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 671 $142,085,000 $211,751 $3,270 3.12%
    American Indian 42 $9,390,000 $223,571 $3,894 3.15%
    Black 14 $2,800,000 $200,000 $3,301 3.24%
    Asian 14 $2,290,000 $163,571 $2,787 3.14%
    Not provided 11 $2,195,000 $199,545 $2,903 2.93%
    Native Hawaiian or Islander 2 $690,000 $345,000 $1,850 2.63%

    Approval Rates

    Total approvals of all applications
    97.00%

    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
    90.05%

    First American Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 754 $159,450,000 $211,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $230,000 $115,000
    Single Family (1-4 Units):Site-Built 752 $159,220,000 $211,729

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $955,000 $106,111 $2,547 2.92%
    40-60% 47 $8,235,000 $175,213 $3,364 2.96%
    60-80% 195 $40,125,000 $205,769 $3,262 3.14%
    80-100% 484 $105,440,000 $217,851 $3,119 3.14%
    Over 100% 19 $4,695,000 $247,105 $8,000 2.87%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRSTRUST MORTGAGE, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    FIRSTRUST MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 50.0%