First Financial Of Maryland Mortgage Rates, Fees & Info
Lutherville, MDLEI: 549300C5JF1UNQK9KC45
Tax ID: 52-0677883
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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
840Origination Dollar Volume (All Markets)
$136,810,000Relative 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 applications92.23%
First Financial Of Maryland has an average approval rate.
Pick Rate
Approvals leading to origination71.81%
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% |