First American Mortgage Rates, Fees & Info

YUKON, OK

LEI: 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.

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% 3/28/24
30 Year Conventional Refi 6.76% 3/28/24
30 Year Cash-out Refi 6.87% 3/28/24
30 Year FHA Purchase 7.60% 3/28/24
30 Year FHA Refi 6.65% 3/28/24
30 Year VA Purchase 6.10% 3/28/24
30 Year USDA Purchase 7.79% 3/28/24
15 Year Conventional Purchase 6.16% 3/28/24
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

563

Origination Dollar Volume (All Markets)

$125,675,000

Awards

FIRST AMERICAN MORTGAGE 30 Year Conventional Loans gold FIRST AMERICAN MORTGAGE FHA Loans silver FIRST AMERICAN MORTGAGE FHA Loans silver FIRST AMERICAN MORTGAGE 30 Year Conventional 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) 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%
First American Mortgage's top markets include Oklahoma City, Weatherford, Lawton, Ardmore, and Shawnee 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.

    WEOKIE
    Similarity Rank: 432
    American Bank of Oklahoma
    Similarity Rank: 459
    TTCU Federal Credit Union
    Similarity Rank: 518
    TRUE SKY
    Similarity Rank: 550
    ALLEGIANCE
    Similarity Rank: 657
    CWM PARTNERS, L.P.
    Similarity Rank: 666
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 728
    InterBank
    Similarity Rank: 841

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 360 $79,830,000 $221,750 $3,097 2.95%
    FHA 125 $24,965,000 $199,720 $5,914 2.98%
    VA 72 $19,820,000 $275,278 $6,055 2.59%
    USDA 6 $1,060,000 $176,667 $4,253 2.96%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 422 $94,450,000 $223,815 $4,181 2.94%
    Refi 89 $20,385,000 $229,045 $3,470 2.78%
    Cash Out Refi 52 $10,840,000 $208,462 $4,687 2.90%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 499 $112,415,000 $225,281 $4,240 2.94%
    15 Year 39 $7,975,000 $204,487 $3,107 2.55%
    20 Year 17 $4,135,000 $243,235 $3,147 2.98%
    10 Year 5 $655,000 $131,000 $3,098 2.60%
    Other 3 $495,000 $165,000 $3,695 2.75%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 485 $111,015,000 $228,897
    $1k-2k 50 $9,720,000 $194,400
    $2k-3k 19 $2,675,000 $140,789
    $3k-4k 6 $1,150,000 $191,667
    $4k-5k 3 $1,115,000 $371,667

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 262 $70,630,000 $269,580 $4,396 2.88%
    $100k-200k 220 $33,900,000 $154,091 $3,865 2.94%
    $100,000 or less 44 $3,650,000 $82,955 $2,898 3.08%
    $400k-600k 37 $17,495,000 $472,838 $5,064 2.70%

    2021 saw First American Mortgage place emphasis on $200k-400k loans with 262 originations, totaling $70,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 136 $26,120,000 $192,059 $4,237 2.93%
    $100k-150k 132 $32,990,000 $249,924 $3,803 2.90%
    $50k or less 107 $16,575,000 $154,907 $3,703 2.94%
    $75k-100k 105 $23,845,000 $227,095 $4,246 2.88%
    $150k-250k 64 $19,960,000 $311,875 $4,923 2.85%
    $250k+ 12 $4,660,000 $388,333 $4,236 2.96%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 137 $31,385,000 $229,088 $4,249 2.91%
    30-36% 98 $22,210,000 $226,633 $4,012 2.84%
    <20% 67 $13,365,000 $199,478 $3,571 2.72%
    38% 29 $7,185,000 $247,759 $3,970 3.01%
    44% 27 $5,375,000 $199,074 $3,428 3.05%
    43% 23 $5,135,000 $223,261 $4,758 2.83%
    40% 22 $4,430,000 $201,364 $4,958 3.09%
    41% 22 $5,090,000 $231,364 $3,974 3.04%
    36% 21 $5,065,000 $241,190 $4,241 3.08%
    37% 20 $4,350,000 $217,500 $4,069 3.03%
    48% 19 $3,865,000 $203,421 $3,625 2.88%
    42% 17 $4,415,000 $259,706 $3,724 3.00%
    39% 17 $3,575,000 $210,294 $3,784 2.98%
    45% 16 $3,740,000 $233,750 $5,973 3.03%
    47% 10 $1,780,000 $178,000 $4,707 2.87%
    49% 8 $2,240,000 $280,000 $4,869 2.77%
    46% 6 $1,650,000 $275,000 $4,701 2.77%
    50-60% 1 $305,000 $305,000 $3,430 2.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 483 $108,955,000 $225,580 $4,097 2.91%
    American Indian 37 $7,705,000 $208,243 $4,413 2.84%
    Black 15 $3,025,000 $201,667 $4,691 3.01%
    Not provided 13 $2,785,000 $214,231 $4,144 2.88%
    Asian 11 $2,325,000 $211,364 $3,692 2.88%
    Native Hawaiian or Islander 2 $330,000 $165,000 $1,372 2.87%
    Vietnamese 1 $275,000 $275,000 $4,452 2.99%
    Asian Indian 1 $275,000 $275,000 $2,705 2.99%

    Approval Rates

    Total approvals of all applications
    96.32%

    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 origination
    89.52%

    First American Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 563 $125,675,000 $223,224

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    563 $125,675,000 $223,224

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $645,000 $92,143 $2,447 2.71%
    40-60% 30 $5,540,000 $184,667 $3,090 2.77%
    60-80% 155 $31,325,000 $202,097 $3,439 2.96%
    80-100% 358 $84,180,000 $235,140 $4,251 2.91%
    Over 100% 12 $3,930,000 $327,500 $12,441 2.51%
    Under 20% 1 $55,000 $55,000 $3,042 2.63%

    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%