First Mortgage Company Rates, Fees & Info
BOISE, IDLEI: 5493008PQSMR41Y70C36
Tax ID: 82-0416590
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Mortgage Data
Review & Overview
First Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. First Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Miami, Providence, Boston, Deltona, and Houston among others. We have data for 50 markets. (Some data included below & more in-depth data is available with an active subscription.)First Mortgage Company has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. First Mortgage Company is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 5/5/24 |
| 30 Year Conventional Refi | 6.38% | 5/5/24 |
| 30 Year Cash-out Refi | 6.84% | 5/5/24 |
| 30 Year FHA Purchase | 6.98% | 5/5/24 |
| 30 Year FHA Refi | 7.33% | 5/5/24 |
| 30 Year VA Purchase | 6.22% | 5/5/24 |
| 15 Year Conventional Purchase | 6.80% | 5/5/24 |
| 15 Year Conventional Refi | 6.07% | 5/5/24 |
| 15 Year Cash-out Refi | 6.07% | 5/5/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
715Origination Dollar Volume (All Markets)
$393,105,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 234 | $183,220,000 | $782,991 | $10,946 | 4.35% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 79 | $28,675,000 | $362,975 | $10,939 | 5.08% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 67 | $27,435,000 | $409,478 | $8,915 | 5.33% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 50 | $16,850,000 | $337,000 | $7,297 | 4.73% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 17 | $14,515,000 | $853,824 | $22,336 | 4.85% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 36 | $14,060,000 | $390,556 | $9,897 | 5.50% |
| Outside of Metro Areas | 5 | $14,015,000 | $2,803,000 | $25,856 | 4.87% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 34 | $11,220,000 | $330,000 | $8,022 | 4.97% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $10,795,000 | $10,795,000 | $0 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 10 | $10,480,000 | $1,048,000 | $15,269 | 4.67% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 28 | $9,680,000 | $345,714 | $7,622 | 5.16% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 22 | $9,230,000 | $419,545 | $6,884 | 4.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 16 | $4,660,000 | $291,250 | $7,218 | 5.70% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 8 | $4,580,000 | $572,500 | $9,831 | 5.15% |
| BOISE CITY, ID (FHA|USDA|VA) | 12 | $4,310,000 | $359,167 | $9,050 | 4.10% |
| Palatka, FL (FHA|USDA|VA) | 19 | $4,085,000 | $215,000 | $7,931 | 4.99% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 10 | $3,580,000 | $358,000 | $8,130 | 5.61% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 10 | $3,280,000 | $328,000 | $8,621 | 5.46% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $2,065,000 | $295,000 | $8,944 | 5.43% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $1,485,000 | $495,000 | $7,857 | 5.38% |
| Key West, FL (FHA|USDA|VA) | 2 | $1,470,000 | $735,000 | $17,009 | 4.25% |
| Concord, NH (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $9,542 | 4.81% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $6,043 | 6.29% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $12,181 | 5.19% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $26,659 | 6.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $8,036 | 5.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 5.25% |
| OCALA, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $11,069 | 5.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $2,562 | 6.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $4,508 | 4.46% |
| GAINESVILLE, FL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $4,465 | 5.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $11,060 | 5.63% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $14,233 | 6.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $6,421 | 4.50% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $9,828 | 5.63% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,133 | 5.63% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $16,048 | 4.63% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 6.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $6,952 | 5.99% |
| Laconia, NH (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,703 | 5.38% |
| RENO, NV (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 6.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $7,158 | 6.81% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,260 | 5.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,963 | 5.38% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,165 | 6.63% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,210 | 7.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 8.63% |
| Berlin, NH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,619 | 6.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.75% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,933 | 5.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 606 | $352,250,000 | $581,271 | $9,465 | 4.87% |
| FHA | 97 | $36,135,000 | $372,526 | $12,834 | 4.91% |
| VA | 12 | $4,720,000 | $393,333 | $9,667 | 5.18% |
For 2022, First Mortgage Company's most frequently originated type of loan was Conventional, with 606 originations. Their 2nd most popular type was FHA, with 97 originations.
Loan Reason
For 2022, First Mortgage Company's most frequently cited loan purpose was Home Purchase, with 538 originations. The 2nd most popular reason was Cash Out Refi, with 122 originations.
Loan Duration/Length
For 2022, First Mortgage Company's most frequently cited loan duration was 30 Year, with 682 originations. The 2nd most popular length was 15 Year, with 17 originations.
Origination Fees/Closing Costs
First Mortgage Company's average total fees were $9,738, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 213 originations.
Interest Rates
During 2022, First Mortgage Company's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 5-6%, with 213 originations.
Loan Sizing
2022 saw First Mortgage Company place emphasis on $200k-400k loans with 306 originations, totaling $91,990,000 in origination value.
Applicant Income
First Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 158 originations. The second most popular income band? $100k-150k, with 154 originations.
Applicant Debt to Income Ratio
First Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 89 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.80%
First Mortgage Company has an average approval rate.
Pick Rate
Approvals leading to origination90.35%
First Mortgage Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 715 | $393,105,000 | $549,797 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |