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

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

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Mortgage Data

  • SimulatedRates™
  • 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 Refi and Cash Out Refi loans. First Financial Of Maryland has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, York, Washington, 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) 5.63% 3/19/23
    30 Year Conventional Purchase 6.60% 3/19/23
    30 Year Conventional Refi 6.40% 3/19/23
    30 Year Cash-out Refi 6.42% 3/19/23
    15 Year Conventional Purchase 7.43% 3/19/23
    15 Year Conventional Refi 5.92% 3/19/23
    15 Year Cash-out Refi 5.92% 3/19/23
    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.


    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 mortgage rate was 3%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.15%.

    Relative Fees (Closing Costs)

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

    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) 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.

    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
    Securityplus FCU
    Similarity Rank: 736
    Kwik Mortgage Corporation
    Similarity Rank: 1180
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1300
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1344
    ACNB Bank
    Similarity Rank: 1350
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1392
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 1394
    JAMS-01, INC.
    Similarity Rank: 1428
    Congressional Bank
    Similarity Rank: 1988

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 553 $113,455,000 $205,163 $1,842 3.20%
    HELOC 287 $23,355,000 $81,376 n/a 2.17%

    For 2021, First Financial Of Maryland's most frequently originated type of loan was Conventional, with 553 originations. Their 2nd most popular type was HELOC, with 287 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First Financial Of Maryland's most frequently cited loan purpose was Refi, with 235 originations. The 2nd most popular reason was 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 2021, First Financial Of Maryland's most frequently cited loan duration was 20 Year, with 406 originations. The 2nd most popular length was 30 Year, with 208 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    First Financial Of Maryland's average total fees were $2,661, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.00%, while their most frequently originated rate bucket for loans was <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
    91.37%

    First Financial Of Maryland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.33%

    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%