First American Mortgage Rates, Fees & Info
YUKON, OKLEI: 5493006KM0C07F0DE248
Tax ID: 73-1432800
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Mortgage Data
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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Oklahoma City, Weatherford, Lawton, Ardmore, and Shawnee among others. We have data for 14 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 a below 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 11/21/24 |
| 30 Year Conventional Refi | 6.76% | 11/21/24 |
| 30 Year Cash-out Refi | 6.87% | 11/21/24 |
| 30 Year FHA Purchase | 7.60% | 11/21/24 |
| 30 Year FHA Refi | 6.65% | 11/21/24 |
| 30 Year VA Purchase | 6.10% | 11/21/24 |
| 30 Year USDA Purchase | 7.79% | 11/21/24 |
| 15 Year Conventional Purchase | 6.16% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
563Origination Dollar Volume (All Markets)
$125,675,000Awards
FIRST AMERICAN MORTGAGE - 2021
FIRST AMERICAN MORTGAGE is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 497 | $112,625,000 | $226,610 | $4,080 | 2.90% |
| Outside of Metro Areas | 21 | $3,905,000 | $185,952 | $4,026 | 3.10% |
| Weatherford, OK (FHA|USDA|VA) | 16 | $2,980,000 | $186,250 | $3,740 | 2.90% |
| LAWTON, OK (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $3,411 | 3.00% |
| Ardmore, OK (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $8,299 | 2.69% |
| Shawnee, OK (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $4,429 | 3.22% |
| Elk City, OK (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $5,288 | 2.58% |
| TULSA, OK (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $5,261 | 2.75% |
| Stillwater, OK (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $5,926 | 2.56% |
| Ponca City, OK (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,069 | 2.99% |
| ENID, OK (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,133 | 2.75% |
| Ada, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,087 | 2.38% |
| Tahlequah, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,319 | 3.38% |
| Duncan, OK (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,727 | 3.25% |
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.
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Product Mix
For 2021, First American Mortgage's most frequently originated type of loan was Conventional, with 360 originations. Their 2nd most popular type was FHA, with 125 originations.
Loan Reason
For 2021, First American Mortgage's most frequently cited loan purpose was Home Purchase, with 422 originations. The 2nd most popular reason was Refi, with 89 originations.
Loan Duration/Length
For 2021, First American Mortgage's most frequently cited loan duration was 30 Year, with 499 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
First American Mortgage's average total fees were $4,240, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 485 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 288 | $66,700,000 | $231,597 |
| 3-4% | 158 | $30,590,000 | $193,608 |
| <2.5% | 116 | $28,270,000 | $243,707 |
| 4-5% | 1 | $115,000 | $115,000 |
During 2021, First American Mortgage's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 288 originations.
Loan Sizing
2021 saw First American Mortgage place emphasis on $200k-400k loans with 262 originations, totaling $70,630,000 in origination value.
Applicant Income
First American Mortgage lent most frequently to those with incomes in the $50k-75k range, with 136 originations. The second most popular income band? $100k-150k, with 132 originations.
Applicant Debt to Income Ratio
First American Mortgage lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? 30-36%, with 98 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.32%
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 origination89.52%
First American Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 563 | $125,675,000 | $223,224 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST MORTGAGE COMPANY | Conventional home mortgage | Trouble during payment process | 5 | 83.3% |
| FIRST MORTGAGE COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |