First Continental Mortgage Ltd. Rates, Fees & Info

HOUSTON, TX

LEI: 549300C20KZIWPASBC15

Tax ID: 76-0629353

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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. 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: Houston, Seattle, Austin, San Antonio, and Bremerton among others. We have data for 19 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% 4/21/24
    30 Year Conventional Refi 6.56% 4/21/24
    30 Year Cash-out Refi 6.74% 4/21/24
    30 Year FHA Purchase 7.72% 4/21/24
    30 Year VA Purchase 6.14% 4/21/24
    15 Year Conventional Purchase 5.68% 4/21/24
    15 Year Conventional Refi 5.68% 4/21/24
    15 Year Cash-out Refi 5.68% 4/21/24
    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.

    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

    961

    Origination Dollar Volume (All Markets)

    $326,235,000
    Show all (7) 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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 376 $113,350,000 $301,463 $3,932 3.03%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 256 $98,770,000 $385,820 $5,265 3.27%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 145 $49,935,000 $344,379 $4,709 3.02%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 91 $34,455,000 $378,626 $5,359 2.98%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 25 $9,585,000 $383,400 $3,987 3.47%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 26 $7,150,000 $275,000 $4,860 3.08%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 10 $3,750,000 $375,000 $7,797 3.00%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 7 $2,505,000 $357,857 $6,820 3.21%
    SAVANNAH, GA (FHA|USDA|VA) 8 $1,850,000 $231,250 $3,089 3.06%
    BOULDER, CO (FHA|USDA|VA) 3 $1,635,000 $545,000 $10,017 3.46%
    Shelton, WA (FHA|USDA|VA) 4 $870,000 $217,500 $1,584 3.31%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $490,000 $245,000 $4,853 3.06%
    Outside of Metro Areas 2 $420,000 $210,000 $5,992 4.75%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $315,000 $315,000 $1,465 2.88%
    LONGVIEW, WA (FHA|USDA|VA) 1 $285,000 $285,000 $3,889 3.88%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $255,000 $255,000 $641 3.50%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $215,000 $215,000 $3,203 3.00%
    TYLER, TX (FHA|USDA|VA) 1 $205,000 $205,000 $2,796 2.88%
    WENATCHEE, WA (FHA|USDA|VA) 1 $195,000 $195,000 $4,455 4.88%
    First Continental Mortgage Ltd.'s top markets include Houston, Seattle, Austin, San Antonio, and Bremerton among others.

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

    TRISTAR FINANCE, INC.
    Similarity Rank: 378
    United Heritage Credit Union
    Similarity Rank: 657
    LOANSNAP, INC.
    Similarity Rank: 1106
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1265
    AAXY L.L.C.
    Similarity Rank: 1314
    TEXANS
    Similarity Rank: 1368
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1480
    MEMBERS CHOICE Credit Union
    Similarity Rank: 1824
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 1830
    ASSOCIATED CREDIT UNION OF TEXAS
    Similarity Rank: 1895

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 682 $223,850,000 $328,226 $3,458 3.08%
    VA 151 $59,875,000 $396,523 $6,943 3.10%
    FHA 123 $41,355,000 $336,220 $8,297 3.31%
    USDA 5 $1,155,000 $231,000 $4,037 2.93%

    For 2020, First Continental Mortgage Ltd.'s most frequently originated type of loan was Conventional, with 682 originations. Their 2nd most popular type was VA, with 151 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 751 $260,905,000 $347,410 $4,709 3.11%
    Refi 162 $49,580,000 $306,049 $3,948 3.02%
    Cash Out Refi 48 $15,750,000 $328,125 $5,661 3.39%

    For 2020, First Continental Mortgage Ltd.'s most frequently cited loan purpose was Home Purchase, with 751 originations. The 2nd most popular reason was Refi, with 162 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 885 $306,215,000 $346,006 $4,775 3.14%
    15 Year 58 $15,210,000 $262,241 $2,925 2.70%
    20 Year 12 $3,400,000 $283,333 $2,613 3.12%
    Other 4 $1,050,000 $262,500 $2,802 2.94%
    10 Year 1 $195,000 $195,000 $6,784 2.25%
    30+ year 1 $165,000 $165,000 $3,150 3.00%

    For 2020, First Continental Mortgage Ltd.'s most frequently cited loan duration was 30 Year, with 885 originations. The 2nd most popular length was 15 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 565 $187,105,000 $331,159
    $1k-2k 170 $55,570,000 $326,882
    $2k-3k 46 $16,820,000 $365,652
    $3k-4k 37 $12,615,000 $340,946
    $5k+ 29 $12,465,000 $429,828
    $4k-5k 16 $5,650,000 $353,125

    First Continental Mortgage Ltd.'s average total fees were $4,775, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 565 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 431 $150,085,000 $348,225
    2.5-3% 362 $120,840,000 $333,812
    <2.5% 133 $43,515,000 $327,180
    4-5% 32 $11,020,000 $344,375
    5-6% 3 $775,000 $258,333

    During 2020, First Continental Mortgage Ltd.'s average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 626 $193,050,000 $308,387 $4,243 3.13%
    $400k-600k 240 $110,460,000 $460,250 $5,999 3.11%
    $100k-200k 77 $12,665,000 $164,481 $2,734 3.00%
    $600k-1MM 14 $9,780,000 $698,571 $9,607 3.34%
    $100,000 or less 4 $280,000 $70,000 $1,574 1.94%

    2020 saw First Continental Mortgage Ltd. place emphasis on $200k-400k loans with 626 originations, totaling $193,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 350 $122,810,000 $350,886 $4,407 3.08%
    $150k-250k 211 $81,545,000 $386,469 $4,832 3.13%
    $75k-100k 181 $59,505,000 $328,757 $5,329 3.16%
    $50k-75k 121 $31,535,000 $260,620 $4,614 3.12%
    $250k+ 52 $19,090,000 $367,115 $3,905 3.14%
    $50k or less 34 $7,960,000 $234,118 $3,796 3.07%

    First Continental Mortgage Ltd. lent most frequently to those with incomes in the $100k-150k range, with 350 originations. The second most popular income band? $150k-250k, with 211 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 165 $56,715,000 $343,727 $4,052 3.08%
    20-30% 156 $48,090,000 $308,269 $3,764 3.00%
    50-60% 83 $31,635,000 $381,145 $7,402 3.24%
    44% 53 $18,535,000 $349,717 $4,837 3.28%
    <20% 45 $15,165,000 $337,000 $3,429 2.88%
    49% 42 $14,490,000 $345,000 $4,953 3.10%
    40% 40 $14,140,000 $353,500 $5,757 3.19%
    41% 39 $13,085,000 $335,513 $4,187 3.29%
    39% 38 $12,750,000 $335,526 $4,789 3.15%
    43% 38 $13,320,000 $350,526 $3,649 3.25%
    36% 37 $12,765,000 $345,000 $4,462 2.97%
    37% 36 $12,900,000 $358,333 $3,335 3.20%
    38% 30 $10,260,000 $342,000 $5,561 3.16%
    42% 28 $9,440,000 $337,143 $4,967 3.24%
    45% 27 $8,935,000 $330,926 $4,501 3.09%
    48% 26 $7,950,000 $305,769 $4,824 3.13%
    46% 25 $7,855,000 $314,200 $4,781 3.11%
    47% 23 $7,775,000 $338,043 $6,481 3.04%
    >60% 10 $3,440,000 $344,000 $7,871 2.72%

    First Continental Mortgage Ltd. lent most frequently to those with DTI ratios of 30-36%, with 165 originations. The next most common DTI ratio? 20-30%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 579 $195,255,000 $337,228 $4,707 3.14%
    Not provided 232 $79,910,000 $344,440 $4,314 3.04%
    Black 75 $26,205,000 $349,400 $5,647 3.07%
    Asian 60 $20,220,000 $337,000 $3,794 3.13%
    American Indian 7 $2,095,000 $299,286 $5,541 3.30%
    Native Hawaiian or Islander 4 $1,340,000 $335,000 $4,443 3.53%
    Asian Indian 2 $650,000 $325,000 $3,234 2.81%
    Korean 1 $295,000 $295,000 $3,625 2.38%
    Filipino 1 $265,000 $265,000 $3,347 2.88%

    Approval Rates

    Total approvals of all applications
    99.79%

    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
    88.24%

    First Continental Mortgage Ltd. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 961 $326,235,000 $339,475

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 961 $326,235,000 $339,475

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $4,400,000 $157,143 $2,442 2.83%
    40-60% 74 $18,010,000 $243,378 $3,088 2.97%
    60-80% 244 $80,410,000 $329,549 $3,860 3.10%
    80-100% 558 $201,580,000 $361,254 $4,635 3.16%
    Over 100% 45 $18,295,000 $406,556 $13,191 3.14%
    Under 20% 1 $15,000 $15,000 $40 0.00%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST CONTINENTAL MORTGAGE LTD Conventional home mortgage Struggling to pay mortgage 1 25.0%
    FIRST CONTINENTAL MORTGAGE LTD Conventional home mortgage Trouble during payment process 2 50.0%
    FIRST CONTINENTAL MORTGAGE LTD VA mortgage Closing on a mortgage 1 25.0%