First Financial Of Maryland Mortgage Rates, Fees & Info
Lutherville, MDLEI: 549300C5JF1UNQK9KC45
Tax ID: 52-0677883
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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, 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.52% | 4/21/24 |
| 30 Year Conventional Purchase | 5.63% | 4/21/24 |
| 30 Year Conventional Refi | 5.74% | 4/21/24 |
| 30 Year Cash-out Refi | 5.74% | 4/21/24 |
| 15 Year Conventional Purchase | 5.92% | 4/21/24 |
| 15 Year Conventional Refi | 5.35% | 4/21/24 |
| 15 Year Cash-out Refi | 5.35% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
743Origination Dollar Volume (All Markets)
$119,335,000Awards
FIRST FINANCIAL OF MARYLAND - 2022
FIRST FINANCIAL OF MARYLAND is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications92.92%
First Financial Of Maryland has an average approval rate.
Pick Rate
Approvals leading to origination86.14%
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 |
LTV Distribution
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% |