First Continental Mortgage Ltd. Rates, Fees & Info
HOUSTON, TXLEI: 549300C20KZIWPASBC15
Tax ID: 76-0629353
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.48% | 10/13/24 |
30 Year Conventional Refi | 6.56% | 10/13/24 |
30 Year Cash-out Refi | 6.74% | 10/13/24 |
30 Year FHA Purchase | 7.72% | 10/13/24 |
30 Year VA Purchase | 6.14% | 10/13/24 |
15 Year Conventional Purchase | 5.68% | 10/13/24 |
15 Year Conventional Refi | 5.68% | 10/13/24 |
15 Year Cash-out Refi | 5.68% | 10/13/24 |
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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
282Origination Dollar Volume (All Markets)
$105,020,000FIRST CONTINENTAL MORTGAGE LTD. - 2023
FIRST CONTINENTAL MORTGAGE LTD. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
2023 saw First Continental Mortgage Ltd. place emphasis on $200k-400k loans with 181 originations, totaling $56,645,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.94%
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 origination78.01%
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 |