First Financial Of Maryland Mortgage Rates, Fees & Info

Lutherville, MD

LEI: 549300C5JF1UNQK9KC45

Tax ID: 52-0677883

5 stars - Updated: 5/14/24 - out of 5 stars, based on 25 reviews

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

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Mortgage Data

Review & Overview

First Financial Of Maryland is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. First Financial Of Maryland has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, York, Washington, Salisbury, and Easton among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Financial Of Maryland 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 Financial Of Maryland is typically a low 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 relatively high 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
Home Equity Line of Credit (HELOC) 4.52% 5/14/24
30 Year Conventional Purchase 5.63% 5/14/24
30 Year Conventional Refi 5.74% 5/14/24
30 Year Cash-out Refi 5.74% 5/14/24
15 Year Conventional Purchase 5.92% 5/14/24
15 Year Conventional Refi 5.35% 5/14/24
15 Year Cash-out Refi 5.35% 5/14/24
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 Financial Of Maryland Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Financial Of Maryland. 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

632

Origination Dollar Volume (All Markets)

$80,800,000

Awards

FIRST FINANCIAL OF MARYLAND 30 Year Conventional Loans gold FIRST FINANCIAL OF MARYLAND 30 Year Conventional Loans gold FIRST FINANCIAL OF MARYLAND 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

First Financial Of Maryland's average 30 year fixed mortgage rate was 5.66%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.82%.

Relative Fees (Closing Costs)

First Financial Of Maryland's average total fees/closing costs for a 30 year fixed rate mortgage were $3,702.

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 $9,089.

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
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 555 $71,355,000 $128,568 $600 4.94%
YORK-HANOVER, PA (FHA|USDA|VA) 37 $3,685,000 $99,595 $657 5.04%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 12 $1,860,000 $155,000 $731 4.87%
SALISBURY, MD-DE (FHA|USDA|VA) 10 $1,030,000 $103,000 $725 5.29%
Easton, MD (FHA|USDA|VA) 3 $825,000 $275,000 $1,828 3.13%
GETTYSBURG, PA (FHA|USDA|VA) 4 $760,000 $190,000 $2,256 5.69%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $390,000 $195,000 $634 6.38%
READING, PA (FHA|USDA|VA) 1 $285,000 $285,000 $4,645 7.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $260,000 $65,000 $0 5.79%
PITTSBURGH, PA (FHA|USDA|VA) 1 $175,000 $175,000 $4,220 5.88%
Outside of Metro Areas 1 $85,000 $85,000 $0 5.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.00%
LEBANON, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 2.49%
First Financial Of Maryland's top markets include Baltimore, York, Washington, Salisbury, and Easton among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST FINANCIAL OF MARYLAND based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 117
    POINT BREEZE
    Similarity Rank: 160
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 572
    Orrstown Bank
    Similarity Rank: 1488
    United Nations Federal Credit Union
    Similarity Rank: 1974
    Homesale Mortgage, LLC
    Similarity Rank: 2592

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 632 $80,800,000 $127,848 $630 4.96%

    For 2023, First Financial Of Maryland's most frequently originated type of loan was Conventional, with 632 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 549 $52,005,000 $94,727 $130 4.85%
    Home Purchase 74 $26,450,000 $357,432 $4,236 5.71%
    Refi 9 $2,345,000 $260,556 $1,472 5.68%

    For 2023, First Financial Of Maryland's most frequently cited loan purpose was Cash Out Refi, with 549 originations. The 2nd most popular reason was Home Purchase, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 374 $37,010,000 $98,957 $52 4.16%
    30 Year 91 $32,475,000 $356,868 $3,702 5.66%
    10 Year 73 $5,505,000 $75,411 $313 6.26%
    15 Year 65 $4,805,000 $73,923 $228 6.91%
    5 Year 29 $1,005,000 $34,655 $137 5.54%

    For 2023, First Financial Of Maryland's most frequently cited loan duration was 20 Year, with 374 originations. The 2nd most popular length was 30 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 629 $79,515,000 $126,415
    $2k-3k 2 $1,000,000 $500,000
    $1k-2k 1 $285,000 $285,000

    First Financial Of Maryland's average total fees were $3,702, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 629 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 261 $25,665,000 $98,333
    5-6% 132 $23,490,000 $177,955
    6-7% 79 $11,045,000 $139,810
    Over 8% 67 $5,325,000 $79,478
    4-5% 53 $10,945,000 $206,509
    7-8% 40 $4,330,000 $108,250

    During 2023, First Financial Of Maryland's average interest rate for loans was 5.66%, while their most frequently originated rate bucket for loans was <2.5%, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 373 $20,695,000 $55,483 $58 5.02%
    $100k-200k 141 $19,175,000 $135,993 $430 4.79%
    $200k-400k 84 $22,040,000 $262,381 $2,043 4.81%
    $400k-600k 25 $12,295,000 $491,800 $4,027 5.47%
    $600k-1MM 8 $5,550,000 $693,750 $4,689 5.39%
    $1MM+ 1 $1,045,000 $1,045,000 $5,995 5.13%

    2023 saw First Financial Of Maryland place emphasis on $100,000 or less loans with 373 originations, totaling $20,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 194 $31,100,000 $160,309 $839 4.89%
    $100k-150k 170 $18,710,000 $110,059 $452 5.14%
    $75k-100k 111 $10,325,000 $93,018 $389 5.18%
    $50k-75k 77 $7,185,000 $93,312 $805 5.35%
    $250k+ 53 $11,865,000 $223,868 $777 3.89%
    $50k or less 27 $1,615,000 $59,815 $451 4.52%

    First Financial Of Maryland lent most frequently to those with incomes in the $150k-250k range, with 194 originations. The second most popular income band? $100k-150k, with 170 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 144 $18,610,000 $129,236 $782 4.44%
    30-36% 102 $13,900,000 $136,275 $826 4.86%
    50-60% 83 $9,175,000 $110,542 $165 4.80%
    <20% 49 $6,395,000 $130,510 $614 4.45%
    44% 24 $2,700,000 $112,500 $340 5.30%
    42% 22 $2,060,000 $93,636 $451 5.16%
    36% 22 $4,090,000 $185,909 $1,295 4.76%
    43% 21 $2,325,000 $110,714 $504 5.31%
    49% 20 $3,530,000 $176,500 $788 7.05%
    40% 17 $1,785,000 $105,000 $398 5.29%
    37% 16 $2,300,000 $143,750 $782 5.18%
    46% 15 $1,285,000 $85,667 $0 5.78%
    39% 15 $2,535,000 $169,000 $1,590 6.38%
    47% 15 $1,675,000 $111,667 $266 5.60%
    41% 14 $2,050,000 $146,429 $1,091 5.22%
    45% 14 $1,620,000 $115,714 $605 4.87%
    >60% 13 $1,815,000 $139,615 $0 3.63%
    48% 13 $1,115,000 $85,769 $137 6.45%
    38% 13 $1,835,000 $141,154 $925 5.78%

    First Financial Of Maryland lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? 30-36%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 463 $57,605,000 $124,417 $625 4.76%
    Not provided 65 $9,715,000 $149,462 $689 5.38%
    Black 76 $8,750,000 $115,132 $541 5.68%
    Asian 23 $4,415,000 $191,957 $990 4.80%
    American Indian 4 $300,000 $75,000 $0 8.31%
    Native Hawaiian or Islander 1 $15,000 $15,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    91.92%

    First Financial Of Maryland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.91%

    First Financial Of Maryland has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 632 $80,800,000 $127,848

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    632 $80,800,000 $127,848

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 171 $20,355,000 $119,035 $74 4.63%
    40-60% 45 $8,515,000 $189,222 $987 4.92%
    60-80% 41 $13,025,000 $317,683 $3,104 5.39%
    80-100% 48 $19,320,000 $402,500 $4,230 5.67%
    Under 20% 327 $19,585,000 $59,893 $33 4.98%