First Mortgage Company Rates, Fees & Info

BOISE, ID

LEI: 5493008PQSMR41Y70C36

Tax ID: 82-0416590

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 Mortgage Company is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. First Mortgage Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top (well, only) market is Boise City.

    First Mortgage Company 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 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.

    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 6.45% 12/16/24
    30 Year Conventional Refi 6.38% 12/16/24
    30 Year Cash-out Refi 6.84% 12/16/24
    30 Year FHA Purchase 6.98% 12/16/24
    30 Year FHA Refi 7.33% 12/16/24
    30 Year VA Purchase 6.22% 12/16/24
    15 Year Conventional Purchase 6.80% 12/16/24
    15 Year Conventional Refi 6.07% 12/16/24
    15 Year Cash-out Refi 6.07% 12/16/24
    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 Mortgage Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Mortgage Company. 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

    52

    Origination Dollar Volume (All Markets)

    $11,570,000

    Awards

    FIRST MORTGAGE COMPANY 30 Year Conventional Loans silver FIRST MORTGAGE COMPANY 30 Year Conventional Loans silver
    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
    BOISE CITY, ID (FHA|USDA|VA) 50 $11,340,000 $226,800 $5,506 3.82%
    Outside of Metro Areas 2 $230,000 $115,000 $3,272 3.56%
    First Mortgage Company's top markets include and Boise City among others.

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

    • Similar Lenders

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

    SOMERSET
    Similarity Rank: 26
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 114
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    ESSA Bank & Trust
    Similarity Rank: 120
    First Ipswich Bank
    Similarity Rank: 139
    POWER FINANCIAL
    Similarity Rank: 188
    WEST COMMUNITY
    Similarity Rank: 190
    The Honesdale National Bank
    Similarity Rank: 192
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 225

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $10,785,000 $220,102 $5,074 3.84%
    VA 2 $570,000 $285,000 $12,153 3.19%
    FHA 1 $215,000 $215,000 $8,895 3.63%

    For 2019, First Mortgage Company's most frequently originated type of loan was Conventional, with 49 originations. Their 2nd most popular type was VA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 19 $4,965,000 $261,316 $6,331 3.95%
    Refi 18 $3,820,000 $212,222 $4,467 3.68%
    Cash Out Refi 14 $2,670,000 $190,714 $5,678 3.79%
    Other 1 $115,000 $115,000 $1,660 3.88%

    For 2019, First Mortgage Company's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 44 $10,280,000 $233,636 $5,696 3.87%
    15 Year 7 $1,035,000 $147,857 $3,690 3.30%
    30+ year 1 $255,000 $255,000 $5,368 5.00%

    For 2019, First Mortgage Company's most frequently cited loan duration was 30 Year, with 44 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 13 $1,705,000 $131,154
    $2k-3k 13 $2,565,000 $197,308
    $3k-4k 9 $2,205,000 $245,000
    $5k+ 8 $2,650,000 $331,250
    $4k-5k 6 $1,640,000 $273,333
    $<1k 3 $805,000 $268,333

    First Mortgage Company's average total fees were $5,696, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 38 $8,400,000 $221,053
    4-5% 12 $2,980,000 $248,333
    2.5-3% 1 $65,000 $65,000
    5-6% 1 $125,000 $125,000

    During 2019, First Mortgage Company's average interest rate for loans was 3.87%, while their most frequently originated rate bucket for loans was 3-4%, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 23 $6,275,000 $272,826 $6,917 3.82%
    $100k-200k 20 $3,090,000 $154,500 $4,106 3.82%
    $100,000 or less 5 $385,000 $77,000 $2,729 3.58%
    $400k-600k 4 $1,820,000 $455,000 $6,750 4.03%

    2019 saw First Mortgage Company place emphasis on $200k-400k loans with 23 originations, totaling $6,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 17 $3,535,000 $207,941 $5,436 3.73%
    $50k-75k 12 $2,330,000 $194,167 $5,340 3.74%
    $100k-150k 11 $2,635,000 $239,545 $5,944 3.83%
    $250k+ 6 $1,400,000 $233,333 $5,394 4.10%
    $150k-250k 4 $1,260,000 $315,000 $4,962 3.84%
    $50k or less 2 $410,000 $205,000 $3,876 4.00%

    First Mortgage Company lent most frequently to those with incomes in the $75k-100k range, with 17 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $3,365,000 $224,333 $5,439 3.77%
    30-36% 12 $3,030,000 $252,500 $5,353 3.81%
    <20% 11 $1,875,000 $170,455 $4,684 3.83%
    36% 4 $1,080,000 $270,000 $8,951 3.53%
    43% 3 $455,000 $151,667 $3,596 3.71%
    41% 2 $760,000 $380,000 $8,268 3.94%
    42% 1 $215,000 $215,000 $3,799 4.25%
    37% 1 $275,000 $275,000 $5,534 4.50%
    44% 1 $145,000 $145,000 $3,623 3.38%
    45% 1 $255,000 $255,000 $5,368 5.00%
    46% 1 $115,000 $115,000 $3,050 3.75%

    First Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $9,905,000 $230,349 $5,371 3.84%
    Not provided 8 $1,410,000 $176,250 $5,656 3.73%
    American Indian 1 $255,000 $255,000 $5,661 3.50%

    Approval Rates

    Total approvals of all applications
    98.81%

    First 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
    40.38%

    First Mortgage Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 52 $11,570,000 $222,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 52 $11,570,000 $222,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $825,000 $165,000 $4,449 3.60%
    40-60% 10 $2,080,000 $208,000 $4,007 3.74%
    60-80% 22 $5,500,000 $250,000 $5,711 3.91%
    80-100% 12 $2,730,000 $227,500 $7,029 3.75%
    Over 100% 1 $255,000 $255,000 $5,368 5.00%
    Under 20% 2 $180,000 $90,000 $2,083 3.44%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First Colony Mortgage Corp. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%