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 Refi, Cash Out Refi, and Home Purchase loans. First Mortgage Company has a high proportion of conventional loans. Their top markets by origination volume include: Boise City, Hailey, and Ontario among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

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    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

    158

    Origination Dollar Volume (All Markets)

    $36,680,000

    Awards

    FIRST MORTGAGE COMPANY 30 Year Conventional Loans gold FIRST MORTGAGE COMPANY 30 Year Conventional Loans gold
    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) 148 $34,460,000 $232,838 $4,619 2.93%
    Outside of Metro Areas 8 $1,600,000 $200,000 $4,463 2.58%
    Hailey, ID (FHA|USDA|VA) 1 $525,000 $525,000 $8,915 2.75%
    Ontario, OR-ID (FHA|USDA|VA) 1 $95,000 $95,000 $3,175 3.13%
    First Mortgage Company's top markets include Boise City, Hailey, and Ontario among others.

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

    HNB National Bank
    Similarity Rank: 165
    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    United Bank of Union
    Similarity Rank: 245
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    The Honesdale National Bank
    Similarity Rank: 294
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    Piscataqua Savings Bank
    Similarity Rank: 310
    CapGrow Home Mortgage, LLC
    Similarity Rank: 352

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 157 $36,405,000 $231,879 $4,634 2.91%
    VA 1 $275,000 $275,000 $3,853 3.25%

    For 2020, First Mortgage Company's most frequently originated type of loan was Conventional, with 157 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 81 $16,625,000 $205,247 $3,863 2.78%
    Cash Out Refi 52 $12,520,000 $240,769 $5,245 3.02%
    Home Purchase 23 $7,375,000 $320,652 $6,256 3.15%
    Other 2 $160,000 $80,000 $580 2.81%

    For 2020, First Mortgage Company's most frequently cited loan purpose was Refi, with 81 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 133 $32,555,000 $244,774 $4,750 2.96%
    15 Year 19 $3,045,000 $160,263 $3,960 2.70%
    20 Year 5 $895,000 $179,000 $4,080 2.65%
    10 Year 1 $185,000 $185,000 $3,329 2.50%

    For 2020, First Mortgage Company's most frequently cited loan duration was 30 Year, with 133 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 54 $9,070,000 $167,963
    $2k-3k 42 $9,530,000 $226,905
    $3k-4k 27 $6,615,000 $245,000
    $<1k 12 $2,700,000 $225,000
    $4k-5k 12 $4,070,000 $339,167
    $5k+ 10 $4,550,000 $455,000

    First Mortgage Company's average total fees were $4,750, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 54 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 73 $18,065,000 $247,466
    3-4% 45 $10,005,000 $222,333
    <2.5% 38 $7,720,000 $203,158
    4-5% 2 $890,000 $445,000

    During 2020, First Mortgage Company's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 2.5-3%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 75 $20,825,000 $277,667 $5,366 2.92%
    $100k-200k 62 $9,230,000 $148,871 $3,624 2.90%
    $400k-600k 11 $5,165,000 $469,545 $6,394 2.83%
    $100,000 or less 9 $755,000 $83,889 $2,263 2.79%
    $600k-1MM 1 $705,000 $705,000 $12,571 5.00%

    2020 saw First Mortgage Company place emphasis on $200k-400k loans with 75 originations, totaling $20,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 39 $9,155,000 $234,744 $4,719 2.88%
    $75k-100k 31 $7,515,000 $242,419 $4,286 2.99%
    $50k-75k 27 $5,145,000 $190,556 $4,340 2.76%
    $100k-150k 26 $6,800,000 $261,538 $5,269 3.07%
    $50k or less 21 $3,155,000 $150,238 $3,367 2.89%
    $250k+ 11 $4,065,000 $369,545 $6,556 2.84%

    First Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 39 originations. The second most popular income band? $75k-100k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 43 $9,865,000 $229,419 $4,156 2.87%
    <20% 35 $7,425,000 $212,143 $4,400 2.73%
    30-36% 28 $7,180,000 $256,429 $5,245 2.89%
    37% 10 $1,860,000 $186,000 $4,014 3.04%
    40% 7 $1,645,000 $235,000 $4,848 2.95%
    38% 6 $1,430,000 $238,333 $5,645 3.31%
    49% 5 $1,655,000 $331,000 $4,978 2.75%
    39% 3 $795,000 $265,000 $5,579 2.96%
    46% 3 $1,065,000 $355,000 $7,563 3.79%
    47% 3 $585,000 $195,000 $4,708 3.08%
    43% 2 $370,000 $185,000 $4,432 3.38%
    44% 2 $430,000 $215,000 $4,889 2.69%
    36% 2 $560,000 $280,000 $3,461 2.88%
    41% 2 $300,000 $150,000 $3,226 3.38%
    42% 2 $290,000 $145,000 $3,947 3.44%
    48% 1 $105,000 $105,000 $2,802 3.25%
    45% 1 $275,000 $275,000 $5,199 2.50%

    First Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? <20%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $29,605,000 $233,110 $4,711 2.92%
    Not provided 26 $6,220,000 $239,231 $4,372 2.86%
    Asian 5 $855,000 $171,000 $3,695 3.08%

    Approval Rates

    Total approvals of all applications
    98.12%

    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
    67.72%

    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 158 $36,680,000 $232,152

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $175,000 $175,000
    Single Family (1-4 Units):Site-Built 157 $36,505,000 $232,516

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $4,200,000 $140,000 $3,457 2.73%
    40-60% 44 $9,370,000 $212,955 $4,206 2.82%
    60-80% 69 $19,055,000 $276,159 $5,466 3.05%
    80-100% 12 $3,680,000 $306,667 $5,003 3.01%
    Under 20% 3 $375,000 $125,000 $2,096 2.63%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Other type of mortgage Closing on a mortgage 1 20.0%
    FIRST GUARANTY MORTGAGE CORP VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    FIRST GUARANTY MORTGAGE CORP VA mortgage Improper use of your report 1 20.0%
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 40.0%