First Financial Of Maryland Mortgage Rates, Fees & Info

Lutherville, MD

LEI: 549300C5JF1UNQK9KC45

Tax ID: 52-0677883

5 stars - Updated: 9/25/23 - out of 5 stars, based on 27 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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 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, Washington, York, Gettysburg, and Philadelphia among others. We have data for 12 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 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
    Home Equity Line of Credit (HELOC) 4.52% 9/25/23
    30 Year Conventional Purchase 5.63% 9/25/23
    30 Year Conventional Refi 5.74% 9/25/23
    30 Year Cash-out Refi 5.74% 9/25/23
    15 Year Conventional Purchase 5.92% 9/25/23
    15 Year Conventional Refi 5.35% 9/25/23
    15 Year Cash-out Refi 5.35% 9/25/23
    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

    743

    Origination Dollar Volume (All Markets)

    $119,335,000

    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 mortgage rate was 3.55%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -1.21%.

    Relative Fees (Closing Costs)

    First Financial Of Maryland's average total fees/closing costs for a 30 year fixed rate mortgage were $3,438.

    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 $4,750.

    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) 667 $107,725,000 $161,507 $1,516 4.20%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 21 $4,085,000 $194,524 $2,020 3.92%
    YORK-HANOVER, PA (FHA|USDA|VA) 31 $3,465,000 $111,774 $1,700 4.57%
    GETTYSBURG, PA (FHA|USDA|VA) 7 $1,195,000 $170,714 $4,058 3.94%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $710,000 $177,500 $2,544 3.51%
    SALISBURY, MD-DE (FHA|USDA|VA) 5 $575,000 $115,000 $1,434 5.70%
    Cambridge, MD (FHA|USDA|VA) 1 $445,000 $445,000 $3,627 3.88%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $435,000 $145,000 $3,893 4.05%
    Lewisburg, PA (FHA|USDA|VA) 1 $255,000 $255,000 $3,842 2.88%
    Easton, MD (FHA|USDA|VA) 1 $255,000 $255,000 $3,908 4.13%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.38%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.25%
    First Financial Of Maryland's top markets include Baltimore, Washington, York, Gettysburg, and Philadelphia 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.

    POINT BREEZE
    Similarity Rank: 477
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 738
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 780
    Congressional Bank
    Similarity Rank: 840
    JAMS-01, INC.
    Similarity Rank: 1008
    MISSION MORTGAGE LLC
    Similarity Rank: 1185
    ACNB Bank
    Similarity Rank: 1260
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1344
    Kwik Mortgage Corporation
    Similarity Rank: 1370
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1404

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 551 $103,465,000 $187,777 $1,585 4.85%
    HELOC 192 $15,870,000 $82,656 n/a 2.39%

    For 2022, First Financial Of Maryland's most frequently originated type of loan was Conventional, with 551 originations. Their 2nd most popular type was HELOC, with 192 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 250 $44,340,000 $177,360 $930 5.18%
    Home Improvement 196 $14,430,000 $73,622 $476 3.78%
    Home Purchase 107 $30,625,000 $286,215 $4,135 3.82%
    Other 102 $6,980,000 $68,431 $461 4.29%
    Refi 88 $22,960,000 $260,909 $2,083 2.84%

    For 2022, First Financial Of Maryland's most frequently cited loan purpose was Cash Out Refi, with 250 originations. The 2nd most popular reason was Home Improvement, with 196 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 392 $39,750,000 $101,403 $444 4.27%
    30 Year 181 $59,205,000 $327,099 $3,438 3.55%
    15 Year 93 $15,135,000 $162,742 $1,286 4.29%
    10 Year 52 $4,220,000 $81,154 $625 5.58%
    5 Year 25 $1,025,000 $41,000 $545 5.03%

    For 2022, First Financial Of Maryland's most frequently cited loan duration was 20 Year, with 392 originations. The 2nd most popular length was 30 Year, with 181 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 546 $101,310,000 $185,549
    $2k-3k 3 $1,665,000 $555,000
    $1k-2k 1 $445,000 $445,000

    First Financial Of Maryland's average total fees were $3,438, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 546 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 217 $24,415,000 $112,512
    2.5-3% 110 $33,690,000 $306,273
    5-6% 94 $9,060,000 $96,383
    3-4% 84 $26,610,000 $316,786
    4-5% 82 $12,750,000 $155,488
    6-7% 80 $6,310,000 $78,875
    7-8% 42 $3,850,000 $91,667
    Over 8% 34 $2,650,000 $77,941

    During 2022, First Financial Of Maryland's average interest rate for loans was 3.55%, while their most frequently originated rate bucket for loans was <2.5%, with 217 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 347 $17,645,000 $50,850 $350 4.77%
    $100k-200k 174 $24,970,000 $143,506 $1,328 4.08%
    $200k-400k 167 $46,595,000 $279,012 $2,622 3.51%
    $400k-600k 44 $20,900,000 $475,000 $3,786 3.26%
    $600k-1MM 10 $7,150,000 $715,000 $4,810 3.35%
    $1MM+ 1 $2,075,000 $2,075,000 $4,649 3.75%

    2022 saw First Financial Of Maryland place emphasis on $100,000 or less loans with 347 originations, totaling $17,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 224 $34,750,000 $155,134 $1,532 4.23%
    $150k-250k 188 $34,670,000 $184,415 $1,796 3.85%
    $75k-100k 119 $15,205,000 $127,773 $1,522 4.40%
    $50k-75k 112 $13,610,000 $121,518 $1,437 4.44%
    $250k+ 56 $17,160,000 $306,429 $1,808 4.48%
    $50k or less 44 $3,940,000 $89,545 $1,316 4.28%

    First Financial Of Maryland lent most frequently to those with incomes in the $100k-150k range, with 224 originations. The second most popular income band? $150k-250k, with 188 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 183 $31,775,000 $173,634 $1,872 3.57%
    30-36% 118 $20,880,000 $176,949 $1,987 3.99%
    50-60% 76 $7,480,000 $98,421 $504 5.62%
    <20% 67 $14,755,000 $220,224 $1,966 3.23%
    41% 33 $5,735,000 $173,788 $1,337 3.87%
    36% 31 $4,745,000 $153,065 $1,475 4.63%
    42% 25 $4,135,000 $165,400 $2,009 5.14%
    40% 23 $3,385,000 $147,174 $1,580 4.90%
    43% 23 $3,605,000 $156,739 $1,152 5.14%
    39% 22 $4,640,000 $210,909 $2,671 4.09%
    37% 22 $3,130,000 $142,273 $981 5.12%
    38% 20 $2,690,000 $134,500 $1,328 4.37%
    44% 19 $1,815,000 $95,526 $834 4.63%
    46% 18 $2,920,000 $162,222 $1,797 3.06%
    47% 16 $1,490,000 $93,125 $373 5.84%
    45% 14 $2,940,000 $210,000 $2,588 3.35%
    49% 13 $1,285,000 $98,846 $1,055 4.65%
    48% 12 $1,530,000 $127,500 $1,483 5.04%
    >60% 6 $280,000 $46,667 $0 5.30%

    First Financial Of Maryland lent most frequently to those with DTI ratios of 20-30%, with 183 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 446 $75,340,000 $168,924 $1,586 4.16%
    Not provided 192 $31,250,000 $162,760 $1,639 4.02%
    Black 80 $8,960,000 $112,000 $1,400 4.95%
    Asian 20 $3,340,000 $167,000 $1,735 4.24%
    American Indian 5 $445,000 $89,000 $1,645 4.36%

    Approval Rates

    Total approvals of all applications
    92.92%

    First Financial Of Maryland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.14%

    First Financial Of Maryland has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 743 $119,335,000 $160,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    743 $119,335,000 $160,612

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 166 $20,870,000 $125,723 $648 4.59%
    40-60% 69 $14,175,000 $205,435 $1,675 3.68%
    60-80% 119 $38,535,000 $323,824 $2,683 3.31%
    80-100% 87 $29,595,000 $340,172 $3,971 3.58%
    Under 20% 300 $16,040,000 $53,467 $271 4.68%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%