1st Financial Mortgage Rates, Fees & Info
MILLERSVILLE, MDLEI: 549300AT7S7TRS2KSX88
Tax ID: 04-3694338
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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, Orlando, and Washington among others. We have data for 38 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.04% | 12/3/24 |
| 30 Year Conventional Refi | 6.83% | 12/3/24 |
| 30 Year Cash-out Refi | 7.01% | 12/3/24 |
| 30 Year FHA Purchase | 7.62% | 12/3/24 |
| 30 Year FHA Refi | 7.66% | 12/3/24 |
| 30 Year VA Purchase | 6.43% | 12/3/24 |
| 30 Year VA Refi | 5.62% | 12/3/24 |
| 30 Year USDA Purchase | 6.85% | 12/3/24 |
| 15 Year Conventional Purchase | 6.53% | 12/3/24 |
| 15 Year Conventional Refi | 6.55% | 12/3/24 |
| 15 Year Cash-out Refi | 6.55% | 12/3/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,272Origination Dollar Volume (All Markets)
$324,530,000Top 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) | 644 | $174,970,000 | $271,693 | $8,347 | 4.80% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 187 | $52,605,000 | $281,310 | $6,994 | 4.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 154 | $35,660,000 | $231,558 | $6,991 | 4.61% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 133 | $26,095,000 | $196,203 | $8,331 | 5.12% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 34 | $11,220,000 | $330,000 | $6,685 | 4.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 19 | $3,495,000 | $183,947 | $8,554 | 5.10% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 9 | $1,895,000 | $210,556 | $6,434 | 4.87% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 11 | $1,835,000 | $166,818 | $6,670 | 4.77% |
| Key West, FL (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $8,618 | 4.78% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $1,285,000 | $183,571 | $7,340 | 4.23% |
| OCALA, FL (FHA|USDA|VA) | 9 | $1,225,000 | $136,111 | $7,467 | 4.89% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $8,472 | 4.72% |
| Outside of Metro Areas | 5 | $1,045,000 | $209,000 | $5,104 | 4.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $9,061 | 4.97% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $8,756 | 5.41% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $6,936 | 4.94% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $4,293 | 4.79% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $7,832 | 5.06% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $6,501 | 4.47% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $7,897 | 3.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $10,946 | 4.50% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,596 | 5.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $5,063 | 4.87% |
| Easton, MD (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $11,827 | 5.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $7,226 | 6.06% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,531 | 3.99% |
| READING, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,877 | 4.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,843 | 4.13% |
| Clewiston, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $6,233 | 5.40% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,276 | 4.13% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,926 | 3.99% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,010 | 4.75% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,512 | 3.88% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,039 | 3.99% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,228 | 4.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,996 | 5.75% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,917 | 5.65% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $7,401 | 4.75% |
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Product Mix
For 2019, 1st Financial's most frequently originated type of loan was Conventional, with 754 originations. Their 2nd most popular type was FHA, with 447 originations.
Loan Reason
For 2019, 1st Financial's most frequently cited loan purpose was Home Purchase, with 1,003 originations. The 2nd most popular reason was Refi, with 219 originations.
Loan Duration/Length
For 2019, 1st Financial's most frequently cited loan duration was 30 Year, with 1,239 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
1st Financial's average total fees were $7,897, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 626 originations.
Interest Rates
During 2019, 1st Financial's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 632 originations.
Loan Sizing
2019 saw 1st Financial place emphasis on $200k-400k loans with 745 originations, totaling $210,465,000 in origination value.
Applicant Income
1st Financial lent most frequently to those with incomes in the $50k-75k range, with 381 originations. The second most popular income band? $75k-100k, with 265 originations.
Applicant Debt to Income Ratio
1st Financial lent most frequently to those with DTI ratios of 50-60%, with 228 originations. The next most common DTI ratio? 30-36%, with 124 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.21%
1st Financial has an average approval rate.
Pick Rate
Approvals leading to origination51.57%
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 | 1,272 | $324,530,000 | $255,134 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 11 | $1,645,000 | $149,545 |
| Single Family (1-4 Units):Site-Built | 1,261 | $322,885,000 | $256,055 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 1ST FINANCIAL, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| 1ST FINANCIAL, INC. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| 1ST FINANCIAL, INC. | FHA mortgage | Closing on a mortgage | 1 | 33.3% |