First Continental Mortgage Ltd. Rates, Fees & Info

HOUSTON, TX

LEI: 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. First Continental Mortgage Ltd. 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: Seattle, Dallas, Houston, San Antonio, and Boulder among others. We have data for 22 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 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% 3/28/24
30 Year Conventional Refi 6.56% 3/28/24
30 Year Cash-out Refi 6.74% 3/28/24
30 Year FHA Purchase 7.72% 3/28/24
30 Year VA Purchase 6.14% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
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

855

Origination Dollar Volume (All Markets)

$261,335,000
Show all (12) awards

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) 196 $68,480,000 $349,388 $6,033 4.07%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 198 $50,160,000 $253,333 $5,730 4.22%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 173 $49,985,000 $288,931 $3,941 3.95%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 65 $21,625,000 $332,692 $5,794 3.80%
BOULDER, CO (FHA|USDA|VA) 63 $21,325,000 $338,492 $3,411 4.06%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 60 $19,010,000 $316,833 $4,487 3.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 41 $13,655,000 $333,049 $3,464 4.30%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 22 $8,420,000 $382,727 $6,118 4.31%
GREELEY, CO (FHA|USDA|VA) 8 $2,540,000 $317,500 $5,776 3.89%
FORT COLLINS, CO (FHA|USDA|VA) 3 $1,375,000 $458,333 $3,288 4.08%
SAVANNAH, GA (FHA|USDA|VA) 6 $1,190,000 $198,333 $1,529 3.42%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 3 $795,000 $265,000 $4,990 4.63%
Centralia, WA (FHA|USDA|VA) 3 $505,000 $168,333 $2,577 2.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $440,000 $220,000 $6,987 2.44%
Shelton, WA (FHA|USDA|VA) 2 $350,000 $175,000 $105 2.50%
Aberdeen, WA (FHA|USDA|VA) 3 $335,000 $111,667 $5,027 3.17%
Moses Lake, WA (FHA|USDA|VA) 1 $275,000 $275,000 $3,450 5.00%
WALLA WALLA, WA (FHA|USDA|VA) 1 $255,000 $255,000 $2,879 5.63%
Outside of Metro Areas 1 $195,000 $195,000 $3,420 4.75%
Port Angeles, WA (FHA|USDA|VA) 1 $165,000 $165,000 $4,007 4.25%
LONGVIEW, WA (FHA|USDA|VA) 2 $130,000 $65,000 $428 2.56%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $125,000 $125,000 $5,377 4.13%
First Continental Mortgage Ltd.'s top markets include Seattle, Dallas, Houston, San Antonio, and Boulder among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 558 $163,690,000 $293,351 $3,574 4.00%
    FHA 156 $48,600,000 $311,538 $7,479 4.26%
    VA 137 $48,085,000 $350,985 $7,348 3.98%
    USDA 4 $960,000 $240,000 $3,894 3.91%

    For 2019, First Continental Mortgage Ltd.'s most frequently originated type of loan was Conventional, with 558 originations. Their 2nd most popular type was FHA, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 762 $231,030,000 $303,189 $4,975 4.03%
    Refi 61 $20,435,000 $335,000 $4,486 4.00%
    Cash Out Refi 28 $8,960,000 $320,000 $6,025 4.53%
    Home Improvement 3 $775,000 $258,333 $3,815 4.17%
    Other 1 $135,000 $135,000 $3,197 4.25%

    For 2019, First Continental Mortgage Ltd.'s most frequently cited loan purpose was Home Purchase, with 762 originations. The 2nd most popular reason was Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 806 $249,000,000 $308,933 $5,121 4.07%
    15 Year 35 $8,755,000 $250,143 $2,535 3.56%
    20 Year 13 $3,475,000 $267,308 $2,852 3.83%
    10 Year 1 $105,000 $105,000 $286 3.38%

    For 2019, First Continental Mortgage Ltd.'s most frequently cited loan duration was 30 Year, with 806 originations. The 2nd most popular length was 15 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 510 $154,690,000 $303,314
    $1k-2k 141 $45,305,000 $321,312
    $2k-3k 67 $20,425,000 $304,851
    $3k-4k 43 $13,185,000 $306,628
    $5k+ 36 $11,950,000 $331,944
    $4k-5k 21 $7,235,000 $344,524

    First Continental Mortgage Ltd.'s average total fees were $5,121, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 510 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 402 $125,500,000 $312,189
    4-5% 379 $120,195,000 $317,137
    5-6% 43 $12,435,000 $289,186
    <2.5% 22 $350,000 $15,909
    2.5-3% 9 $2,855,000 $317,222

    During 2019, First Continental Mortgage Ltd.'s average interest rate for loans was 4.07%, while their most frequently originated rate bucket for loans was 3-4%, with 402 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 614 $180,870,000 $294,577 $4,973 4.15%
    $400k-600k 132 $61,170,000 $463,409 $6,831 4.14%
    $100k-200k 74 $11,970,000 $161,757 $2,568 4.15%
    $100,000 or less 25 $565,000 $22,600 $584 0.49%
    $600k-1MM 10 $6,760,000 $676,000 $5,716 4.20%

    2019 saw First Continental Mortgage Ltd. place emphasis on $200k-400k loans with 614 originations, totaling $180,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 280 $88,950,000 $317,679 $5,254 4.11%
    $75k-100k 208 $61,880,000 $297,500 $5,377 4.10%
    $50k-75k 146 $36,060,000 $246,986 $4,223 4.13%
    $150k-250k 145 $55,725,000 $384,310 $5,379 4.14%
    $50k or less 47 $7,985,000 $169,894 $2,490 2.87%
    $250k+ 28 $10,450,000 $373,214 $5,002 3.96%

    First Continental Mortgage Ltd. lent most frequently to those with incomes in the $100k-150k range, with 280 originations. The second most popular income band? $75k-100k, with 208 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 134 $40,420,000 $301,642 $4,760 4.07%
    <20% 111 $31,205,000 $281,126 $3,946 3.27%
    20-30% 109 $32,855,000 $301,422 $4,302 4.01%
    50-60% 85 $27,205,000 $320,059 $7,148 4.34%
    49% 45 $12,845,000 $285,444 $3,756 4.29%
    40% 34 $10,600,000 $311,765 $4,875 4.25%
    48% 33 $9,795,000 $296,818 $4,521 4.18%
    42% 32 $9,940,000 $310,625 $3,826 4.25%
    38% 32 $10,350,000 $323,438 $6,063 4.02%
    39% 29 $9,915,000 $341,897 $5,358 4.25%
    44% 29 $7,715,000 $266,034 $3,440 4.14%
    41% 28 $9,000,000 $321,429 $6,030 4.10%
    47% 27 $9,345,000 $346,111 $5,412 4.19%
    46% 26 $8,080,000 $310,769 $5,580 4.26%
    43% 26 $8,430,000 $324,231 $5,591 4.17%
    45% 25 $8,145,000 $325,800 $5,232 4.25%
    37% 23 $7,385,000 $321,087 $6,773 4.16%
    36% 23 $6,925,000 $301,087 $4,951 4.11%
    >60% 3 $895,000 $298,333 $5,692 3.79%

    First Continental Mortgage Ltd. lent most frequently to those with DTI ratios of 30-36%, with 134 originations. The next most common DTI ratio? <20%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 488 $149,700,000 $306,762 $5,159 4.07%
    Not provided 249 $75,805,000 $304,438 $4,548 4.01%
    Black 75 $22,215,000 $296,200 $4,975 3.99%
    Asian 38 $11,700,000 $307,895 $4,973 3.98%
    Native Hawaiian or Islander 3 $1,365,000 $455,000 $11,320 4.29%
    Filipino 1 $305,000 $305,000 $605 3.75%
    American Indian 1 $245,000 $245,000 $6,062 4.63%

    Approval Rates

    Total approvals of all applications
    99.63%

    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
    88.89%

    First Continental Mortgage Ltd. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 855 $261,335,000 $305,655

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $2,240,000 $280,000
    Single Family (1-4 Units):Site-Built 847 $259,095,000 $305,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,775,000 $164,130 $2,513 3.76%
    40-60% 51 $12,845,000 $251,863 $3,177 3.91%
    60-80% 184 $55,740,000 $302,935 $3,963 4.18%
    80-100% 524 $171,210,000 $326,737 $5,144 4.17%
    Over 100% 48 $16,920,000 $352,500 $11,340 4.13%
    Under 20% 24 $560,000 $23,333 $575 0.56%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST CONTINENTAL MORTGAGE LTD VA mortgage Trouble during payment process 1 33.3%
    FIRST CONTINENTAL MORTGAGE LTD Conventional home mortgage Closing on a mortgage 1 33.3%
    FIRST CONTINENTAL MORTGAGE LTD FHA mortgage Trouble during payment process 1 33.3%