First Continental Mortgage Ltd. Rates, Fees & Info

HOUSTON, TX

LEI: 549300C20KZIWPASBC15

Tax ID: 76-0629353

5 stars - Updated: 11/17/24 - out of 5 stars, based on 17 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Continental Mortgage Ltd. is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. First Continental Mortgage Ltd. has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Atlanta, Houston, Seattle, and Huntsville among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Continental Mortgage Ltd. 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 Continental Mortgage Ltd. 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.48% 11/17/24
    30 Year Conventional Refi 6.56% 11/17/24
    30 Year Cash-out Refi 6.74% 11/17/24
    30 Year FHA Purchase 7.72% 11/17/24
    30 Year VA Purchase 6.14% 11/17/24
    15 Year Conventional Purchase 5.68% 11/17/24
    15 Year Conventional Refi 5.68% 11/17/24
    15 Year Cash-out Refi 5.68% 11/17/24
    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 Continental Mortgage Ltd. Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Continental Mortgage Ltd.. 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

    282

    Origination Dollar Volume (All Markets)

    $105,020,000
    Show all (11) awards

    Relative Rate

    First Continental Mortgage Ltd.'s average 30 year fixed mortgage rate was 6.34%.

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

    This yields a difference of -0.14%.

    Relative Fees (Closing Costs)

    First Continental Mortgage Ltd.'s average total fees/closing costs for a 30 year fixed rate mortgage were $6,904.

    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
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 75 $26,645,000 $355,267 $6,690 6.24%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 37 $16,875,000 $456,081 $6,088 6.23%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 41 $12,655,000 $308,659 $6,656 5.96%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 23 $11,665,000 $507,174 $7,701 6.76%
    HUNTSVILLE, AL (FHA|USDA|VA) 35 $10,605,000 $303,000 $6,154 6.48%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 23 $8,835,000 $384,130 $9,182 6.86%
    SAVANNAH, GA (FHA|USDA|VA) 10 $3,500,000 $350,000 $4,972 6.83%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $2,850,000 $712,500 $12,228 5.72%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 5 $2,345,000 $469,000 $8,160 6.33%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 8 $2,200,000 $275,000 $6,298 6.62%
    DECATUR, AL (FHA|USDA|VA) 6 $1,770,000 $295,000 $6,968 6.06%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,660,000 $415,000 $7,771 6.53%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $900,000 $450,000 $8,572 6.12%
    Shelbyville, TN (FHA|USDA|VA) 2 $570,000 $285,000 $4,794 6.81%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $495,000 $495,000 $12,926 5.00%
    Cullman, AL (FHA|USDA|VA) 1 $355,000 $355,000 $10,917 6.50%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $355,000 $355,000 $9,829 7.13%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $335,000 $335,000 $10,827 6.63%
    Pullman, WA (FHA|USDA|VA) 2 $230,000 $115,000 $2,378 3.63%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $175,000 $175,000 $525 7.25%
    First Continental Mortgage Ltd.'s top markets include Dallas, Atlanta, Houston, Seattle, and Huntsville among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    KITSAP Credit Union
    Similarity Rank: 238
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    LO, INC.
    Similarity Rank: 492
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 770
    Generations Community Federal Credit Union
    Similarity Rank: 824
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 966

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 168 $60,710,000 $361,369 $8,277 6.14%
    Conventional 86 $32,810,000 $381,512 $4,166 6.82%
    VA 28 $11,500,000 $410,714 $6,930 6.05%

    For 2023, First Continental Mortgage Ltd.'s most frequently originated type of loan was FHA, with 168 originations. Their 2nd most popular type was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 281 $104,575,000 $372,153 $6,895 6.34%
    Refi 1 $445,000 $445,000 $5,490 5.88%

    For 2023, First Continental Mortgage Ltd.'s most frequently cited loan purpose was Home Purchase, with 281 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 280 $104,370,000 $372,750 $6,904 6.34%
    15 Year 1 $265,000 $265,000 $5 6.50%
    20 Year 1 $385,000 $385,000 $9,742 5.63%

    For 2023, First Continental Mortgage Ltd.'s most frequently cited loan duration was 30 Year, with 280 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
    $<1k 199 $72,595,000 $364,799
    $5k+ 25 $11,635,000 $465,400
    $1k-2k 24 $7,770,000 $323,750
    $3k-4k 15 $6,045,000 $403,000
    $2k-3k 10 $3,440,000 $344,000
    $4k-5k 9 $3,535,000 $392,778

    First Continental Mortgage Ltd.'s average total fees were $6,904, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 199 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 106 $39,980,000 $377,170
    5-6% 93 $34,535,000 $371,344
    7-8% 56 $21,070,000 $376,250
    4-5% 24 $8,560,000 $356,667
    Over 8% 2 $870,000 $435,000
    <2.5% 1 $5,000 $5,000

    During 2023, First Continental Mortgage Ltd.'s average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 181 $56,645,000 $312,956 $6,181 6.32%
    $400k-600k 78 $36,810,000 $471,923 $8,648 6.37%
    $600k-1MM 12 $8,710,000 $725,833 $10,684 6.67%
    $100k-200k 8 $1,260,000 $157,500 $1,317 6.75%
    $100,000 or less 2 $100,000 $50,000 $1,305 3.00%
    $1MM+ 1 $1,495,000 $1,495,000 $8,204 6.00%

    2023 saw First Continental Mortgage Ltd. place emphasis on $200k-400k loans with 181 originations, totaling $56,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 108 $40,480,000 $374,815 $7,569 6.23%
    $150k-250k 58 $24,420,000 $421,034 $6,983 6.70%
    $75k-100k 58 $19,420,000 $334,828 $6,903 6.24%
    $50k-75k 33 $8,545,000 $258,939 $5,751 6.05%
    $250k+ 15 $8,405,000 $560,333 $8,401 6.88%
    $50k or less 10 $3,750,000 $375,000 $426 6.05%

    First Continental Mortgage Ltd. lent most frequently to those with incomes in the $100k-150k range, with 108 originations. The second most popular income band? $150k-250k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 51 $19,865,000 $389,510 $8,276 6.02%
    20-30% 31 $9,935,000 $320,484 $4,853 6.25%
    30-36% 31 $11,265,000 $363,387 $6,329 6.18%
    46% 22 $8,590,000 $390,455 $8,849 6.12%
    49% 18 $6,700,000 $372,222 $8,248 6.41%
    44% 16 $6,000,000 $375,000 $5,634 6.41%
    43% 14 $5,070,000 $362,143 $5,999 6.45%
    39% 13 $5,115,000 $393,462 $4,697 6.59%
    48% 12 $5,430,000 $452,500 $11,395 6.10%
    40% 12 $4,520,000 $376,667 $6,670 6.58%
    45% 12 $4,880,000 $406,667 $4,609 6.74%
    37% 11 $3,655,000 $332,273 $5,822 6.69%
    42% 10 $3,000,000 $300,000 $5,837 6.53%
    41% 7 $2,455,000 $350,714 $4,714 6.89%
    36% 6 $2,210,000 $368,333 $6,226 6.73%
    47% 6 $2,090,000 $348,333 $6,364 6.62%
    38% 5 $1,705,000 $341,000 $7,760 6.25%
    <20% 3 $1,585,000 $528,333 $8,617 6.83%
    >60% 2 $950,000 $475,000 $14,053 6.88%

    First Continental Mortgage Ltd. lent most frequently to those with DTI ratios of 50-60%, with 51 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 145 $54,065,000 $372,862 $6,904 6.37%
    Black 68 $24,720,000 $363,529 $7,061 6.12%
    Not provided 34 $12,870,000 $378,529 $6,086 6.44%
    Asian 31 $11,295,000 $364,355 $6,896 6.57%
    Chinese 1 $945,000 $945,000 $22,169 6.50%
    American Indian 2 $680,000 $340,000 $9,415 6.43%
    Asian Indian 1 $445,000 $445,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    99.94%

    First Continental Mortgage Ltd. 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
    78.01%

    First Continental Mortgage Ltd. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 282 $105,020,000 $372,411

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    282 $105,020,000 $372,411

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,445,000 $206,429 $1,863 6.32%
    40-60% 10 $2,400,000 $240,000 $2,766 6.69%
    60-80% 33 $13,775,000 $417,424 $4,656 6.79%
    80-100% 225 $84,845,000 $377,089 $7,387 6.28%
    Over 100% 6 $2,550,000 $425,000 $14,386 6.43%
    Under 20% 1 $5,000 $5,000 $202 0.00%