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: Seattle, Houston, Dallas, San Antonio, and Austin among others. We have data for 13 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.

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    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

    477

    Origination Dollar Volume (All Markets)

    $187,635,000
    Show all (6) 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) 146 $69,320,000 $474,795 $6,277 3.16%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 120 $39,230,000 $326,917 $6,133 2.94%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 69 $22,975,000 $332,971 $6,028 3.19%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 46 $21,180,000 $460,435 $8,947 2.89%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 58 $19,280,000 $332,414 $4,883 2.90%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 11 $5,305,000 $482,273 $6,256 3.05%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 11 $4,615,000 $419,545 $5,187 3.20%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 9 $3,345,000 $371,667 $8,074 2.86%
    Shelton, WA (FHA|USDA|VA) 3 $1,425,000 $475,000 $6,200 3.21%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,732 2.75%
    GREELEY, CO (FHA|USDA|VA) 1 $275,000 $275,000 $2,598 3.38%
    SAVANNAH, GA (FHA|USDA|VA) 1 $235,000 $235,000 $6,056 3.13%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,446 3.25%
    First Continental Mortgage Ltd.'s top markets include Seattle, Houston, Dallas, San Antonio, and Austin 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.

    AMOCO
    Similarity Rank: 405
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 560
    United Heritage Credit Union
    Similarity Rank: 636
    Generations Community Federal Credit Union
    Similarity Rank: 704
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 1320
    Bank of the Pacific
    Similarity Rank: 1682
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1770
    TEXAS BAY
    Similarity Rank: 2076
    TEXANS
    Similarity Rank: 2091
    America's Credit Union
    Similarity Rank: 2352

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 228 $87,860,000 $385,351 $4,068 3.06%
    VA 155 $68,515,000 $442,032 $8,654 2.95%
    FHA 92 $30,710,000 $333,804 $7,792 3.16%
    USDA 2 $550,000 $275,000 $5,656 3.06%

    For 2021, First Continental Mortgage Ltd.'s most frequently originated type of loan was Conventional, with 228 originations. Their 2nd most popular type was VA, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 332 $140,590,000 $423,464 $7,182 3.08%
    Refi 109 $33,115,000 $303,807 $3,390 2.87%
    Cash Out Refi 36 $13,930,000 $386,944 $6,759 3.24%

    For 2021, First Continental Mortgage Ltd.'s most frequently cited loan purpose was Home Purchase, with 332 originations. The 2nd most popular reason was Refi, with 109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 447 $179,415,000 $401,376 $6,482 3.08%
    15 Year 20 $5,330,000 $266,500 $3,165 2.48%
    20 Year 5 $1,285,000 $257,000 $4,864 2.90%
    Other 3 $1,155,000 $385,000 $2,518 2.79%
    10 Year 2 $450,000 $225,000 $2,237 2.25%

    For 2021, First Continental Mortgage Ltd.'s most frequently cited loan duration was 30 Year, with 447 originations. The 2nd most popular length was 15 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 291 $112,275,000 $385,825
    $1k-2k 101 $37,885,000 $375,099
    $2k-3k 29 $12,355,000 $426,034
    $5k+ 28 $13,860,000 $495,000
    $3k-4k 23 $8,995,000 $391,087
    $4k-5k 5 $2,265,000 $453,000

    First Continental Mortgage Ltd.'s average total fees were $6,482, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 291 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 243 $98,675,000 $406,070
    2.5-3% 169 $66,665,000 $394,467
    <2.5% 64 $22,020,000 $344,063
    4-5% 1 $275,000 $275,000

    During 2021, First Continental Mortgage Ltd.'s average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 3-4%, with 243 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 258 $79,450,000 $307,946 $5,329 3.04%
    $400k-600k 135 $64,875,000 $480,556 $7,867 3.03%
    $600k-1MM 55 $38,725,000 $704,091 $8,568 3.15%
    $100k-200k 25 $4,235,000 $169,400 $3,169 2.96%
    $100,000 or less 4 $350,000 $87,500 $2,389 2.72%

    2021 saw First Continental Mortgage Ltd. place emphasis on $200k-400k loans with 258 originations, totaling $79,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 171 $68,665,000 $401,550 $6,610 3.06%
    $150k-250k 98 $46,670,000 $476,224 $7,453 3.13%
    $75k-100k 87 $30,105,000 $346,034 $5,820 3.00%
    $50k-75k 67 $20,845,000 $311,119 $6,202 3.04%
    $250k+ 29 $14,345,000 $494,655 $4,713 2.96%
    $50k or less 23 $6,565,000 $285,435 $2,990 2.83%

    First Continental Mortgage Ltd. lent most frequently to those with incomes in the $100k-150k range, with 171 originations. The second most popular income band? $150k-250k, with 98 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 73 $26,805,000 $367,192 $5,099 3.02%
    20-30% 68 $27,310,000 $401,618 $5,523 2.97%
    50-60% 54 $22,340,000 $413,704 $9,573 3.07%
    38% 25 $10,475,000 $419,000 $6,586 3.12%
    44% 23 $9,175,000 $398,913 $6,373 3.13%
    47% 22 $9,240,000 $420,000 $8,380 3.03%
    40% 21 $7,535,000 $358,810 $5,958 3.13%
    41% 20 $8,990,000 $449,500 $6,566 2.98%
    <20% 19 $7,345,000 $386,579 $3,458 2.88%
    42% 18 $6,660,000 $370,000 $6,208 3.19%
    49% 18 $6,720,000 $373,333 $6,038 3.22%
    36% 15 $6,395,000 $426,333 $4,949 3.09%
    48% 15 $6,895,000 $459,667 $7,826 3.06%
    43% 13 $4,515,000 $347,308 $5,372 2.89%
    45% 13 $4,325,000 $332,692 $5,233 3.16%
    >60% 12 $5,670,000 $472,500 $11,348 2.90%
    46% 11 $4,345,000 $395,000 $5,349 3.26%
    37% 10 $4,240,000 $424,000 $7,390 3.12%
    39% 10 $3,010,000 $301,000 $4,412 3.13%

    First Continental Mortgage Ltd. lent most frequently to those with DTI ratios of 30-36%, with 73 originations. The next most common DTI ratio? 20-30%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 260 $104,190,000 $400,731 $6,601 3.09%
    Not provided 106 $40,000,000 $377,358 $5,633 2.95%
    Black 70 $27,010,000 $385,857 $6,917 3.03%
    Asian 30 $12,350,000 $411,667 $5,030 3.01%
    American Indian 8 $2,890,000 $361,250 $4,383 3.13%
    Native Hawaiian or Islander 1 $545,000 $545,000 $5,080 2.75%
    Asian Indian 1 $475,000 $475,000 $2,996 2.63%
    Chinese 1 $175,000 $175,000 $5,510 2.88%

    Approval Rates

    Total approvals of all applications
    99.70%

    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
    85.95%

    First Continental Mortgage Ltd. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 477 $187,635,000 $393,365

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    477 $187,635,000 $393,365

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,325,000 $147,222 $3,219 2.79%
    40-60% 40 $10,530,000 $263,250 $3,429 2.88%
    60-80% 116 $45,280,000 $390,345 $4,335 3.09%
    80-100% 269 $112,035,000 $416,487 $6,024 3.05%
    Over 100% 39 $17,405,000 $446,282 $17,652 3.08%
    Under 20% 2 $620,000 $310,000 $5,017 2.75%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST CONTINENTAL MORTGAGE LTD VA mortgage Trouble during payment process 2 50.0%
    FIRST CONTINENTAL MORTGAGE LTD FHA mortgage Struggling to pay mortgage 1 25.0%
    FIRST CONTINENTAL MORTGAGE LTD Conventional home mortgage Trouble during payment process 1 25.0%