1st Financial Mortgage Rates, Fees & Info

MILLERSVILLE, MD

LEI: 549300AT7S7TRS2KSX88

Tax ID: 04-3694338

1 stars - Updated: 12/6/24 - out of 5 stars, based on 20 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

1st Financial is a smaller mortgage company specializing in Home Purchase loans. 1st Financial has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Miami, Baltimore, Tampa, Washington, and Cape Coral among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

1st Financial 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. 1st Financial 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 relatively high 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 7.04% 12/6/24
30 Year Conventional Refi 6.83% 12/6/24
30 Year Cash-out Refi 7.01% 12/6/24
30 Year FHA Purchase 7.62% 12/6/24
30 Year FHA Refi 7.66% 12/6/24
30 Year VA Purchase 6.43% 12/6/24
30 Year VA Refi 5.62% 12/6/24
30 Year USDA Purchase 6.85% 12/6/24
15 Year Conventional Purchase 6.53% 12/6/24
15 Year Conventional Refi 6.55% 12/6/24
15 Year Cash-out Refi 6.55% 12/6/24
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.

1st Financial Mortgage Calculator






Your Estimates

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

This is not an official calculator from 1st Financial. 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

399

Origination Dollar Volume (All Markets)

$160,905,000

Relative Rate

1st Financial's average 30 year fixed mortgage rate was 6.74%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.26%.

Relative Fees (Closing Costs)

1st Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $15,941.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 285 $124,985,000 $438,544 $16,963 6.79%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 23 $6,425,000 $279,348 $12,242 6.59%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 19 $5,785,000 $304,474 $10,450 6.69%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 11 $4,545,000 $413,182 $20,848 5.98%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 15 $4,295,000 $286,333 $9,988 6.34%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 9 $4,075,000 $452,778 $21,358 7.36%
PORT ST. LUCIE, FL (FHA|USDA|VA) 7 $1,955,000 $279,286 $13,246 7.04%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $1,280,000 $320,000 $16,922 6.44%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $915,000 $305,000 $11,859 7.79%
YORK-HANOVER, PA (FHA|USDA|VA) 3 $855,000 $285,000 $10,490 6.50%
Outside of Metro Areas 2 $650,000 $325,000 $17,119 6.81%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $650,000 $325,000 $17,488 7.31%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $580,000 $290,000 $4,988 6.63%
Key West, FL (FHA|USDA|VA) 1 $565,000 $565,000 $21,417 7.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $520,000 $260,000 $13,814 6.12%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $515,000 $515,000 $29,619 6.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $435,000 $435,000 $23,152 6.75%
RICHMOND, VA (FHA|USDA|VA) 2 $370,000 $185,000 $5,900 6.50%
Clewiston, FL (FHA|USDA|VA) 1 $285,000 $285,000 $13,176 6.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $275,000 $275,000 $10,214 6.50%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $9,726 7.38%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $235,000 $235,000 $5,462 5.99%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,432 7.13%
Pottsville, PA (FHA|USDA|VA) 1 $145,000 $145,000 $5,667 6.99%
OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $9,955 5.75%
1st Financial's top markets include Miami, Baltimore, Tampa, Washington, and Cape Coral among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against 1ST FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 117
    POINT BREEZE
    Similarity Rank: 160
    FineMark National Bank & Trust
    Similarity Rank: 280
    IDB Global Federal Credit Union
    Similarity Rank: 416
    ACHIEVA CREDIT UNION
    Similarity Rank: 441
    ORLANDO CREDIT UNION
    Similarity Rank: 459
    We Florida Financial
    Similarity Rank: 476

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 266 $107,320,000 $403,459 $13,399 6.73%
    FHA 128 $51,680,000 $403,750 $20,784 6.79%
    VA 4 $1,690,000 $422,500 $12,639 6.44%
    USDA 1 $215,000 $215,000 $6,711 6.50%

    For 2023, 1st Financial's most frequently originated type of loan was Conventional, with 266 originations. Their 2nd most popular type was FHA, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 350 $140,900,000 $402,571 $16,073 6.62%
    Cash Out Refi 25 $11,665,000 $466,600 $11,334 8.10%
    Refi 23 $7,895,000 $343,261 $16,084 7.17%
    Home Improvement 1 $445,000 $445,000 $24,119 6.63%

    For 2023, 1st Financial's most frequently cited loan purpose was Home Purchase, with 350 originations. The 2nd most popular reason was Cash Out Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 398 $160,450,000 $403,141 $15,941 6.74%
    15 Year 1 $455,000 $455,000 $0 7.00%

    For 2023, 1st Financial's most frequently cited loan duration was 30 Year, with 398 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 262 $121,960,000 $465,496
    $1k-2k 36 $13,850,000 $384,722
    $4k-5k 27 $6,195,000 $229,444
    $<1k 21 $1,665,000 $79,286
    $2k-3k 14 $3,210,000 $229,286
    $3k-4k 11 $2,925,000 $265,909

    1st Financial's average total fees were $15,941, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 262 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 161 $65,475,000 $406,677
    7-8% 155 $65,435,000 $422,161
    Over 8% 33 $18,115,000 $548,939
    5-6% 32 $11,520,000 $360,000
    <2.5% 18 $360,000 $20,000

    During 2023, 1st Financial's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 166 $81,510,000 $491,024 $20,462 6.97%
    $200k-400k 133 $41,315,000 $310,639 $12,861 7.06%
    $600k-1MM 42 $29,060,000 $691,905 $22,082 7.51%
    $100k-200k 33 $5,285,000 $160,152 $7,522 6.85%
    $100,000 or less 23 $735,000 $31,957 $970 1.46%
    $1MM+ 2 $3,000,000 $1,500,000 $0 9.56%

    2023 saw 1st Financial place emphasis on $400k-600k loans with 166 originations, totaling $81,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 149 $59,385,000 $398,557 $16,835 6.47%
    $75k-100k 84 $24,580,000 $292,619 $12,578 6.31%
    $150k-250k 83 $44,055,000 $530,783 $19,532 7.09%
    $50k-75k 35 $8,285,000 $236,714 $11,213 6.71%
    $250k+ 29 $19,345,000 $667,069 $21,602 7.75%
    $50k or less 19 $5,255,000 $276,579 $6,821 7.77%

    1st Financial lent most frequently to those with incomes in the $100k-150k range, with 149 originations. The second most popular income band? $75k-100k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 77 $28,055,000 $364,351 $18,379 6.00%
    49% 67 $24,745,000 $369,328 $13,895 6.82%
    44% 24 $9,630,000 $401,250 $14,893 7.05%
    30-36% 24 $9,480,000 $395,000 $14,583 7.12%
    48% 22 $8,830,000 $401,364 $16,724 7.11%
    45% 22 $9,510,000 $432,273 $15,734 6.65%
    20-30% 21 $9,395,000 $447,381 $13,052 7.37%
    43% 19 $7,505,000 $395,000 $14,619 7.01%
    47% 16 $5,920,000 $370,000 $13,883 5.64%
    42% 15 $6,925,000 $461,667 $18,757 7.00%
    41% 15 $6,545,000 $436,333 $15,848 6.54%
    46% 14 $7,080,000 $505,714 $21,256 6.95%
    40% 14 $6,000,000 $428,571 $14,291 6.83%
    39% 13 $4,955,000 $381,154 $16,426 6.58%
    38% 13 $6,405,000 $492,692 $18,539 7.08%
    36% 6 $2,290,000 $381,667 $13,903 6.83%
    <20% 6 $3,070,000 $511,667 $10,833 7.44%
    37% 2 $680,000 $340,000 $17,405 6.50%

    1st Financial lent most frequently to those with DTI ratios of 50-60%, with 77 originations. The next most common DTI ratio? 49%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 357 $143,625,000 $402,311 $15,746 6.73%
    Black 31 $12,025,000 $387,903 $18,584 6.76%
    Not provided 9 $4,115,000 $457,222 $10,954 7.24%
    Asian 1 $595,000 $595,000 $19,466 6.49%
    American Indian 1 $545,000 $545,000 $32,253 6.75%

    Approval Rates

    Total approvals of all applications
    91.23%

    1st Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.41%

    1st Financial 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 399 $160,905,000 $403,271

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    399 $160,905,000 $403,271

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,040,000 $173,333 $5,549 6.98%
    40-60% 30 $8,500,000 $283,333 $11,041 7.15%
    60-80% 81 $34,135,000 $421,420 $15,510 7.37%
    80-100% 263 $116,535,000 $443,099 $17,747 6.96%
    Over 100% 1 $335,000 $335,000 $15,415 5.75%
    Under 20% 18 $360,000 $20,000 $0 0.00%