First Financial Of Maryland Mortgage Rates, Fees & Info

Lutherville, MD

LEI: 549300C5JF1UNQK9KC45

Tax ID: 52-0677883

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • Overview

    First Financial Of Maryland is a smaller mortgage company specializing in Refi and Cash Out Refi loans. First Financial Of Maryland has a high proportion of conventional loans. Their top markets include Baltimore, York, Washington, Gettysburg, and Philadelphia among others. First Financial Of Maryland has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Financial Of Maryland is typically a low fee lendor.


    Originations

    840

    Origination Dollar Volume (All Markets)

    $136,810,000

    Awards

    FIRST FINANCIAL OF MARYLAND 30 Year Conventional Loans gold FIRST FINANCIAL OF MARYLAND 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    First Financial Of Maryland's average 30 year fixed rate mortgage of loans were 3%.

    The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

    This yields a difference of -0.15%.

    Relative Fees

    First Financial Of Maryland's average total fees for a 30 year fixed rate mortgage are $2,661.

    The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

    Top Markets

    Market Originations Total Value Average Loan Average Fees Average Rate
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 751 $121,915,000 $162,337 $1,827 2.85%
    YORK-HANOVER, PA (FHA|USDA|VA) 33 $4,705,000 $142,576 $1,752 3.24%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 22 $4,250,000 $193,182 $1,913 2.44%
    GETTYSBURG, PA (FHA|USDA|VA) 13 $2,285,000 $175,769 $2,267 2.92%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9 $2,145,000 $238,333 $2,778 2.54%
    Outside of Metro Areas 4 $470,000 $117,500 $2,095 2.63%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $465,000 $155,000 $1,600 2.26%
    LEBANON, PA (FHA|USDA|VA) 1 $215,000 $215,000 $1,239 2.38%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $145,000 $145,000 $0 1.90%
    Cambridge, MD (FHA|USDA|VA) 1 $145,000 $145,000 $1,215 2.38%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.90%
    LANCASTER, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.90%

    First Financial Of Maryland's top markets include Baltimore, York, Washington, Gettysburg, and Philadelphia among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 840 $136,810,000 $162,869 $1,842 2.85%

    For the 2021 period, First Financial Of Maryland's most frequently originated loan type of loans were Conventional, with 840 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Refi 235 $51,955,000 $221,085 $1,865 2.75%
    Home Improvement 224 $15,790,000 $70,491 $436 2.68%
    Cash Out Refi 222 $52,610,000 $236,982 $2,025 2.91%
    Other 121 $9,535,000 $78,802 $501 3.18%
    Home Purchase 38 $6,920,000 $182,105 $3,292 2.99%

    For the 2021, First Financial Of Maryland's most frequently cited loan purpose of loans were Refi, with 235 originations. The 2nd most popular reason of loans were Home Improvement, with 224 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 406 $46,420,000 $114,335 $1,472 2.61%
    30 Year 208 $55,290,000 $265,817 $2,661 3.00%
    15 Year 147 $28,645,000 $194,864 $1,493 2.78%
    10 Year 56 $5,230,000 $93,393 $919 3.70%
    5 Year 23 $1,225,000 $53,261 $690 3.97%

    For the 2021, First Financial Of Maryland's most frequently cited loan length of loans were 20 Year, with 406 originations. The 2nd most popular length of loans were 30 Year, with 208 originations.

    Origination Fees

    Origination Fee Originations Total Value Average Loan
    $<1k 548 $111,750,000 $203,923
    $1k-2k 4 $1,160,000 $290,000
    $2k-3k 1 $545,000 $545,000

    $2,661 of loans were First Financial Of Maryland's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 548 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 413 $50,185,000 $121,513
    2.5-3% 270 $66,960,000 $248,000
    3-4% 72 $13,480,000 $187,222
    4-5% 40 $3,770,000 $94,250
    5-6% 22 $1,430,000 $65,000
    7-8% 9 $395,000 $43,889
    6-7% 7 $325,000 $46,429
    Over 8% 7 $265,000 $37,857

    During 2021, First Financial Of Maryland's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were <2.5%, with 413 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 312 $15,810,000 $50,673 $916 3.01%
    $200k-400k 247 $66,495,000 $269,211 $2,138 2.81%
    $100k-200k 242 $35,650,000 $147,314 $1,699 2.66%
    $400k-600k 37 $17,185,000 $464,459 $3,271 2.95%
    $600k-1MM 2 $1,670,000 $835,000 $3,466 2.69%

    2021 saw First Financial Of Maryland place emphasis on $100,000 or less loans with 312 originations, totaling $15,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 260 $44,620,000 $171,615 $1,867 2.85%
    $150k-250k 164 $33,150,000 $202,134 $1,939 2.86%
    $75k-100k 158 $23,200,000 $146,835 $1,692 2.85%
    $50k-75k 139 $17,405,000 $125,216 $1,757 2.87%
    $50k or less 74 $8,220,000 $111,081 $1,843 2.83%
    $250k+ 45 $10,215,000 $227,000 $2,335 2.71%

    First Financial Of Maryland lent most frequently to those with incomes in the $100k-150k range, with 260 originations. The second most popular income band? $150k-250k, with 164 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 253 $45,275,000 $178,953 $1,951 2.71%
    30-36% 161 $24,725,000 $153,571 $1,766 2.79%
    <20% 84 $14,440,000 $171,905 $1,732 2.69%
    50-60% 38 $5,770,000 $151,842 $1,622 3.08%
    42% 32 $4,990,000 $155,938 $1,946 2.72%
    41% 29 $4,215,000 $145,345 $1,627 3.13%
    37% 28 $3,970,000 $141,786 $1,426 3.05%
    36% 28 $3,980,000 $142,143 $1,982 2.93%
    40% 26 $3,880,000 $149,231 $2,111 2.82%
    47% 23 $3,625,000 $157,609 $1,514 3.88%
    44% 22 $1,980,000 $90,000 $1,512 3.03%
    38% 22 $4,440,000 $201,818 $1,897 2.86%
    43% 21 $3,695,000 $175,952 $2,360 3.03%
    45% 19 $3,395,000 $178,684 $2,516 2.59%
    39% 18 $3,040,000 $168,889 $1,855 3.32%
    46% 14 $2,190,000 $156,429 $1,506 3.19%
    49% 10 $1,780,000 $178,000 $2,156 2.50%
    48% 8 $1,100,000 $137,500 $2,281 2.64%
    >60% 4 $320,000 $80,000 $0 3.58%

    First Financial Of Maryland lent most frequently to those with DTI ratios of 20-30%, with 253 originations. The next most common DTI ratio? 30-36%, with 161 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 467 $72,005,000 $154,186 $1,809 2.80%
    Not provided 270 $48,030,000 $177,889 $1,923 2.80%
    Black 80 $12,490,000 $156,125 $1,765 3.33%
    Asian 19 $3,885,000 $204,474 $1,979 2.53%
    Asian Indian 1 $225,000 $225,000 $0 1.90%
    Guamanian 1 $85,000 $85,000 $0 1.90%
    Filipino 1 $65,000 $65,000 $497 4.75%
    American Indian 1 $25,000 $25,000 $392 4.75%

    Approval Rates

    Total approvals of all applications
    92.23%

    First Financial Of Maryland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.81%

    First Financial Of Maryland has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 840 $136,810,000 $162,869

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    840 $136,810,000 $162,869

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 147 $16,375,000 $111,395 $1,347 2.70%
    40-60% 139 $28,665,000 $206,223 $1,762 2.68%
    60-80% 254 $64,280,000 $253,071 $2,141 2.90%
    80-100% 58 $15,780,000 $272,069 $2,709 3.03%
    Under 20% 242 $11,710,000 $48,388 $634 2.93%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    First Midwest Financial Conventional home mortgage Trouble during payment process 1 100.0%