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 and Refi loans. 1st Financial has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Miami, Baltimore, Washington, Tampa, and Key West among others. We have data for 67 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.83% | 11/21/24 |
| 30 Year Cash-out Refi | 7.01% | 11/21/24 |
| 30 Year FHA Purchase | 7.62% | 11/21/24 |
| 30 Year FHA Refi | 7.66% | 11/21/24 |
| 30 Year VA Purchase | 6.43% | 11/21/24 |
| 30 Year VA Refi | 5.62% | 11/21/24 |
| 30 Year USDA Purchase | 6.85% | 11/21/24 |
| 15 Year Conventional Purchase | 6.53% | 11/21/24 |
| 15 Year Conventional Refi | 6.55% | 11/21/24 |
| 15 Year Cash-out Refi | 6.55% | 11/21/24 |
| 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
1,679Origination Dollar Volume (All Markets)
$512,725,000Top 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) | 736 | $230,090,000 | $312,622 | $7,971 | 3.21% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 471 | $144,245,000 | $306,253 | $5,947 | 3.05% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 155 | $53,865,000 | $347,516 | $7,673 | 3.09% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 73 | $21,045,000 | $288,288 | $5,816 | 3.00% |
| Key West, FL (FHA|USDA|VA) | 8 | $5,480,000 | $685,000 | $11,731 | 3.27% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 17 | $5,035,000 | $296,176 | $7,358 | 3.18% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 15 | $4,475,000 | $298,333 | $4,882 | 2.93% |
| Outside of Metro Areas | 13 | $3,605,000 | $277,308 | $6,135 | 3.14% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 14 | $3,430,000 | $245,000 | $7,821 | 3.18% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 11 | $3,075,000 | $279,545 | $5,976 | 3.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 13 | $2,805,000 | $215,769 | $5,805 | 3.03% |
| RICHMOND, VA (FHA|USDA|VA) | 9 | $2,235,000 | $248,333 | $4,789 | 2.89% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 8 | $1,990,000 | $248,750 | $7,858 | 2.95% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $1,965,000 | $280,714 | $7,028 | 3.26% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,960,000 | $490,000 | $10,722 | 3.33% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 9 | $1,795,000 | $199,444 | $4,129 | 3.08% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,790,000 | $298,333 | $7,095 | 3.10% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,625,000 | $325,000 | $5,099 | 3.07% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $9,053 | 3.31% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 7 | $1,375,000 | $196,429 | $5,781 | 3.07% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $7,622 | 3.39% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $1,245,000 | $249,000 | $4,999 | 2.85% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 6 | $1,170,000 | $195,000 | $7,286 | 2.54% |
| OCALA, FL (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $8,136 | 3.37% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $3,769 | 3.31% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $3,738 | 3.00% |
| READING, PA (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $6,929 | 3.30% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $9,028 | 3.04% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $4,144 | 2.25% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $6,875 | 2.81% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $6,701 | 3.54% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $6,964 | 3.43% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $5,808 | 2.87% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $5,663 | 3.88% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,628 | 2.63% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $8,107 | 3.06% |
| ERIE, PA (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $4,021 | 2.75% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,274 | 2.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $5,119 | 2.88% |
| Easton, MD (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,803 | 3.00% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,518 | 3.38% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,515 | 3.25% |
| Lake City, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,829 | 3.75% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,415 | 2.75% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,098 | 3.38% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,054 | 2.88% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,916 | 3.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,855 | 2.99% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,976 | 3.13% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,946 | 3.00% |
| Beeville, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,516 | 3.13% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,428 | 3.25% |
| DOVER, DE (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,298 | 2.88% |
| WACO, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,684 | 2.75% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $9,054 | 3.75% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,341 | 3.00% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,309 | 3.50% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,792 | 3.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,980 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,710 | 2.75% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,542 | 2.99% |
| TYLER, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,991 | 2.99% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,208 | 2.75% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,567 | 2.87% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,707 | 2.75% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,183 | 2.99% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,910 | 4.00% |
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Product Mix
For 2021, 1st Financial's most frequently originated type of loan was Conventional, with 1,252 originations. Their 2nd most popular type was FHA, with 334 originations.
Loan Reason
For 2021, 1st Financial's most frequently cited loan purpose was Home Purchase, with 858 originations. The 2nd most popular reason was Refi, with 472 originations.
Loan Duration/Length
For 2021, 1st Financial's most frequently cited loan duration was 30 Year, with 1,469 originations. The 2nd most popular length was 15 Year, with 112 originations.
Origination Fees/Closing Costs
1st Financial's average total fees were $7,360, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 994 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 845 | $258,685,000 | $306,136 |
| 2.5-3% | 634 | $194,030,000 | $306,041 |
| <2.5% | 152 | $46,900,000 | $308,553 |
| 4-5% | 48 | $13,110,000 | $273,125 |
During 2021, 1st Financial's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 845 originations.
Loan Sizing
2021 saw 1st Financial place emphasis on $200k-400k loans with 950 originations, totaling $276,370,000 in origination value.
Applicant Income
1st Financial lent most frequently to those with incomes in the $50k-75k range, with 450 originations. The second most popular income band? $100k-150k, with 371 originations.
Applicant Debt to Income Ratio
1st Financial lent most frequently to those with DTI ratios of 30-36%, with 243 originations. The next most common DTI ratio? 20-30%, with 233 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.19%
1st Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination56.82%
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 | 1,679 | $512,725,000 | $305,375 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHPOINT FINANCIAL SERVICES, INC. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |