First Continental Mortgage Ltd. Rates, Fees & Info

HOUSTON, TX

LEI: 549300C20KZIWPASBC15

Tax ID: 76-0629353

1.1 stars - out of 5 stars, based on 11 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Mortgage Calculator
  • 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 loans. First Continental Mortgage Ltd. has an average proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Seattle, Dallas, San Antonio, Houston, and Austin among others. We have data for 10 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 an above average pick rate when compared to similar lenders. First Continental Mortgage Ltd. 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 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.

    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 6.48% 4/1/23
    30 Year Conventional Refi 6.56% 4/1/23
    30 Year Cash-out Refi 6.74% 4/1/23
    30 Year FHA Purchase 7.72% 4/1/23
    30 Year VA Purchase 6.14% 4/1/23
    15 Year Conventional Purchase 5.68% 4/1/23
    15 Year Conventional Refi 5.68% 4/1/23
    15 Year Cash-out Refi 5.68% 4/1/23
    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

    132

    Origination Dollar Volume (All Markets)

    $67,290,000
    Show all (6) awards

    Relative Rate

    First Continental Mortgage Ltd.'s average 30 year fixed mortgage rate was 4.35%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.41%.

    Relative Fees (Closing Costs)

    First Continental Mortgage Ltd.'s average total fees/closing costs for a 30 year fixed rate mortgage were $11,673.

    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 $4,750.

    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
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 30 $18,180,000 $606,000 $9,519 4.79%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 37 $16,705,000 $451,486 $12,125 4.61%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 32 $16,500,000 $515,625 $13,308 3.88%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 18 $8,810,000 $489,444 $11,726 3.99%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 7 $3,215,000 $459,286 $12,970 3.94%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 4 $2,230,000 $557,500 $8,442 4.75%
    WENATCHEE, WA (FHA|USDA|VA) 1 $545,000 $545,000 $5,044 3.75%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $405,000 $405,000 $12,720 5.63%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $405,000 $405,000 $14,245 3.25%
    VICTORIA, TX (FHA|USDA|VA) 1 $295,000 $295,000 $13,160 5.38%
    First Continental Mortgage Ltd.'s top markets include Seattle, Dallas, San Antonio, Houston, and Austin among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Colorado (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.

    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 385
    Generations Community Federal Credit Union
    Similarity Rank: 704
    AMOCO
    Similarity Rank: 810
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 960
    PRIMEWAY
    Similarity Rank: 1050
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 1194
    Bank of the Pacific
    Similarity Rank: 1334
    TEXAS BAY
    Similarity Rank: 1557
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1770
    TEXANS
    Similarity Rank: 1845

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    VA 88 $45,990,000 $522,614 $12,511 4.05%
    Conventional 29 $15,085,000 $520,172 $7,151 5.01%
    FHA 15 $6,215,000 $414,333 $15,501 4.87%

    For 2022, First Continental Mortgage Ltd.'s most frequently originated type of loan was VA, with 88 originations. Their 2nd most popular type was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 129 $66,275,000 $513,760 $11,820 4.37%
    Cash Out Refi 2 $660,000 $330,000 $6,046 3.75%
    Refi 1 $355,000 $355,000 $3,914 3.38%

    For 2022, First Continental Mortgage Ltd.'s most frequently cited loan purpose was Home Purchase, with 129 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 132 $67,290,000 $509,773 $11,673 4.35%

    For 2022, First Continental Mortgage Ltd.'s most frequently cited loan duration was 30 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 60 $32,300,000 $538,333
    $<1k 33 $15,645,000 $474,091
    $1k-2k 18 $9,600,000 $533,333
    $2k-3k 10 $4,230,000 $423,000
    $3k-4k 6 $2,980,000 $496,667
    $4k-5k 5 $2,535,000 $507,000

    First Continental Mortgage Ltd.'s average total fees were $11,673, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 60 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 44 $22,130,000 $502,955
    4-5% 38 $19,060,000 $501,579
    5-6% 24 $12,060,000 $502,500
    2.5-3% 12 $6,200,000 $516,667
    6-7% 11 $6,495,000 $590,455
    7-8% 2 $800,000 $400,000
    <2.5% 1 $545,000 $545,000

    During 2022, First Continental Mortgage Ltd.'s average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 3-4%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 58 $28,130,000 $485,000 $11,824 4.23%
    $600k-1MM 37 $26,895,000 $726,892 $14,223 4.48%
    $200k-400k 36 $12,070,000 $335,278 $9,039 4.40%
    $100k-200k 1 $195,000 $195,000 $3,364 5.75%

    2022 saw First Continental Mortgage Ltd. place emphasis on $400k-600k loans with 58 originations, totaling $28,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 46 $26,350,000 $572,826 $13,742 4.27%
    $100k-150k 45 $21,755,000 $483,444 $11,056 4.36%
    $75k-100k 21 $8,145,000 $387,857 $10,913 4.17%
    $250k+ 11 $7,585,000 $689,545 $10,079 5.47%
    $50k-75k 9 $3,455,000 $383,889 $7,904 3.83%

    First Continental Mortgage Ltd. lent most frequently to those with incomes in the $150k-250k range, with 46 originations. The second most popular income band? $100k-150k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 27 $14,325,000 $530,556 $13,937 4.11%
    30-36% 18 $9,000,000 $500,000 $9,798 4.28%
    20-30% 9 $4,495,000 $499,444 $9,695 3.92%
    40% 9 $4,435,000 $492,778 $8,578 4.56%
    47% 8 $4,050,000 $506,250 $14,541 4.10%
    41% 7 $3,525,000 $503,571 $8,930 4.35%
    43% 7 $3,415,000 $487,857 $12,688 5.22%
    48% 6 $3,050,000 $508,333 $9,998 4.92%
    38% 6 $2,480,000 $413,333 $13,811 4.26%
    >60% 6 $3,340,000 $556,667 $16,130 4.54%
    45% 5 $2,045,000 $409,000 $5,842 4.33%
    37% 4 $2,030,000 $507,500 $10,845 3.72%
    49% 4 $2,170,000 $542,500 $14,298 4.90%
    46% 4 $2,000,000 $500,000 $13,899 4.01%
    42% 3 $1,705,000 $568,333 $14,686 3.39%
    <20% 3 $1,495,000 $498,333 $8,901 6.00%
    44% 2 $1,340,000 $670,000 $11,969 3.59%
    39% 2 $980,000 $490,000 $7,125 4.19%
    36% 2 $1,410,000 $705,000 $11,054 6.31%

    First Continental Mortgage Ltd. lent most frequently to those with DTI ratios of 50-60%, with 27 originations. The next most common DTI ratio? 30-36%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $33,290,000 $475,571 $11,194 4.39%
    Black 28 $14,070,000 $502,500 $12,414 4.34%
    Not provided 20 $11,670,000 $583,500 $13,020 4.03%
    Asian 11 $6,535,000 $594,091 $11,357 4.80%
    Filipino 1 $735,000 $735,000 $14,626 6.50%
    Native Hawaiian or Islander 1 $705,000 $705,000 $4,286 3.38%
    Vietnamese 1 $285,000 $285,000 $5,459 3.13%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    90.15%

    First Continental Mortgage Ltd. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 132 $67,290,000 $509,773

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    132 $67,290,000 $509,773

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $950,000 $237,500 $2,561 5.16%
    40-60% 6 $1,910,000 $318,333 $7,148 3.83%
    60-80% 14 $7,330,000 $523,571 $7,288 4.32%
    80-100% 91 $48,525,000 $533,242 $11,180 4.40%
    Over 100% 17 $8,575,000 $504,412 $21,666 4.13%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%