First Savings Mortgage Corporation Rates, Fees & Info
MCLEAN, VALEI: 549300CF8MP6S7MZV277
Tax ID: 54-1476331
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
First Savings Mortgage Corporation is a mid-sized mortgage company specializing in Home Purchase and Refi loans. First Savings Mortgage Corporation has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Washington, Baltimore, Virginia Beach, Salisbury, and Richmond among others. First Savings Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. First Savings Mortgage Corporation is typically a high fee lendor.Originations
6,955Origination Dollar Volume (All Markets)
$3,868,835,000Awards
FIRST SAVINGS MORTGAGE CORPORATION - 2021
FIRST SAVINGS MORTGAGE CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
First Savings Mortgage Corporation's average 30 year fixed rate mortgage of loans were
2.95%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.2%.
Relative Fees
First Savings Mortgage Corporation's average total fees for a 30 year fixed rate
mortgage are $7,069.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 6,308 | $3,604,320,000 | $571,389 | $6,901 | 2.90% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 261 | $114,165,000 | $437,414 | $5,820 | 2.89% |
| Outside of Metro Areas | 62 | $23,340,000 | $376,452 | $5,744 | 3.02% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 42 | $17,920,000 | $426,667 | $4,675 | 2.96% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 50 | $16,730,000 | $334,600 | $5,289 | 2.98% |
| RICHMOND, VA (FHA|USDA|VA) | 41 | $12,485,000 | $304,512 | $4,693 | 2.86% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 23 | $11,775,000 | $511,957 | $6,637 | 3.20% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 17 | $6,525,000 | $383,824 | $6,438 | 2.97% |
| Easton, MD (FHA|USDA|VA) | 14 | $4,890,000 | $349,286 | $4,751 | 2.80% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 10 | $4,610,000 | $461,000 | $8,106 | 2.95% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 14 | $4,450,000 | $317,857 | $5,243 | 2.80% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $4,375,000 | $625,000 | $6,004 | 2.70% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 8 | $4,040,000 | $505,000 | $4,864 | 3.02% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 7 | $3,275,000 | $467,857 | $5,546 | 2.95% |
| WILMINGTON, NC (FHA|USDA|VA) | 5 | $2,785,000 | $557,000 | $5,289 | 2.90% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 8 | $2,650,000 | $331,250 | $4,206 | 2.86% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 7 | $2,635,000 | $376,429 | $5,597 | 2.73% |
| ROANOKE, VA (FHA|USDA|VA) | 5 | $2,495,000 | $499,000 | $5,895 | 2.98% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $2,465,000 | $2,465,000 | $32,326 | 3.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 6 | $2,180,000 | $363,333 | $5,313 | 2.77% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 6 | $2,040,000 | $340,000 | $4,873 | 3.27% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $23,696 | 2.63% |
| HARRISONBURG, VA (FHA|USDA|VA) | 7 | $2,005,000 | $286,429 | $6,652 | 2.95% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,810,000 | $452,500 | $5,287 | 2.94% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $1,620,000 | $405,000 | $6,740 | 3.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $4,512 | 2.69% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,335,000 | $267,000 | $4,410 | 2.88% |
| Cambridge, MD (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $5,358 | 2.94% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $4,818 | 2.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $2,616 | 2.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $5,537 | 3.08% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $5,680 | 3.13% |
| Key West, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $5,565 | 2.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,224 | 2.75% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,365 | 3.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,337 | 2.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,591 | 3.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,350 | 3.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,968 | 2.50% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,617 | 2.88% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,754 | 2.38% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,005 | 2.38% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,491 | 2.88% |
| STAUNTON, VA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $1,760 | 3.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,930 | 3.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,129 | 3.63% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,020 | 3.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,094 | 2.63% |
First Savings Mortgage Corporation's top markets include Washington, Baltimore, Virginia Beach, Salisbury, and Richmond among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 6,450 | $3,574,540,000 | $554,192 | $6,315 | 2.92% |
| VA | 398 | $249,070,000 | $625,804 | $12,737 | 2.60% |
| FHA | 107 | $45,225,000 | $422,664 | $12,700 | 2.97% |
For the 2021 period, First Savings Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 6,450 originations. Their 2nd most popular type is VA, with 398 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 3,816 | $2,283,680,000 | $598,449 | $7,950 | 2.95% |
| Refi | 2,512 | $1,270,820,000 | $505,900 | $5,041 | 2.78% |
| Cash Out Refi | 627 | $314,335,000 | $501,332 | $6,638 | 3.05% |
For the 2021, First Savings Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 3,816 originations. The 2nd most popular reason of loans were Refi, with 2,512 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 6,167 | $3,549,995,000 | $575,644 | $7,069 | 2.95% |
| 15 Year | 563 | $216,195,000 | $384,005 | $4,358 | 2.38% |
| 20 Year | 183 | $87,545,000 | $478,388 | $5,119 | 2.78% |
| Other | 35 | $13,645,000 | $389,857 | $4,340 | 3.45% |
| 10 Year | 4 | $990,000 | $247,500 | $3,635 | 2.31% |
| 5 Year | 3 | $465,000 | $155,000 | $2,868 | 6.25% |
For the 2021, First Savings Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 6,167 originations. The 2nd most popular length of loans were 15 Year, with 563 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4,269 | $2,140,565,000 | $501,421 |
| $5k+ | 1,157 | $985,095,000 | $851,422 |
| $3k-4k | 809 | $455,385,000 | $562,899 |
| $2k-3k | 658 | $273,420,000 | $415,532 |
| $<1k | 62 | $14,370,000 | $231,774 |
$7,069 of loans were First Savings Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 4,269 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 4,094 | $2,322,540,000 | $567,303 |
| 3-4% | 1,854 | $1,061,110,000 | $572,335 |
| <2.5% | 981 | $472,265,000 | $481,412 |
| 4-5% | 19 | $11,925,000 | $627,632 |
| 6-7% | 5 | $885,000 | $177,000 |
| 5-6% | 1 | $85,000 | $85,000 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2021, First Savings Mortgage Corporation's average interest rate of loans were 2.95%, while their most frequently originated rate bucket of loans were 2.5-3%, with 4,094 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $400k-600k | 2,212 | $1,092,060,000 | $493,698 | $5,933 | 2.86% |
| $200k-400k | 2,096 | $647,560,000 | $308,950 | $4,719 | 2.86% |
| $600k-1MM | 1,752 | $1,326,870,000 | $757,346 | $8,823 | 2.97% |
| $1MM+ | 549 | $751,485,000 | $1,368,825 | $13,711 | 2.96% |
| $100k-200k | 305 | $49,755,000 | $163,131 | $3,697 | 2.87% |
| $100,000 or less | 41 | $1,105,000 | $26,951 | $871 | 3.64% |
2021 saw First Savings Mortgage Corporation place emphasis on $400k-600k loans with 2,212 originations, totaling $1,092,060,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 2,052 | $1,181,800,000 | $575,926 | $6,795 | 2.92% |
| $100k-150k | 1,682 | $757,620,000 | $450,428 | $5,983 | 2.88% |
| $250k+ | 1,600 | $1,353,130,000 | $845,706 | $8,931 | 2.92% |
| $75k-100k | 794 | $296,670,000 | $373,640 | $5,649 | 2.90% |
| $50k-75k | 538 | $163,400,000 | $303,717 | $5,222 | 2.89% |
| $50k or less | 177 | $56,325,000 | $318,220 | $5,216 | 2.92% |
First Savings Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 2,052 originations. The second most popular income band? $100k-150k, with 1,682 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 2,030 | $1,142,710,000 | $562,911 | $6,412 | 2.88% |
| 30-36% | 1,302 | $756,270,000 | $580,853 | $7,046 | 2.93% |
| <20% | 861 | $465,105,000 | $540,192 | $5,782 | 2.80% |
| 38% | 249 | $142,525,000 | $572,390 | $6,877 | 2.94% |
| 39% | 226 | $137,340,000 | $607,699 | $7,371 | 2.95% |
| 40% | 220 | $128,470,000 | $583,955 | $7,408 | 2.99% |
| 42% | 217 | $130,535,000 | $601,544 | $7,082 | 2.95% |
| 36% | 213 | $125,775,000 | $590,493 | $6,942 | 2.93% |
| 37% | 211 | $126,815,000 | $601,019 | $7,413 | 2.91% |
| 44% | 200 | $97,120,000 | $485,600 | $6,732 | 3.02% |
| 41% | 195 | $104,575,000 | $536,282 | $7,191 | 3.01% |
| 43% | 175 | $82,875,000 | $473,571 | $6,459 | 3.00% |
| 45% | 156 | $72,630,000 | $465,577 | $6,631 | 2.94% |
| 49% | 140 | $68,770,000 | $491,214 | $6,881 | 2.95% |
| 47% | 131 | $62,845,000 | $479,733 | $7,236 | 2.90% |
| 46% | 114 | $58,150,000 | $510,088 | $6,726 | 2.93% |
| 48% | 105 | $51,815,000 | $493,476 | $7,273 | 2.98% |
| 50-60% | 84 | $44,590,000 | $530,833 | $13,964 | 2.79% |
| >60% | 9 | $6,995,000 | $777,222 | $21,174 | 2.68% |
First Savings Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 2,030 originations. The next most common DTI ratio? 30-36%, with 1,302 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4,942 | $2,827,010,000 | $572,038 | $6,728 | 2.89% |
| Not provided | 951 | $514,035,000 | $540,521 | $6,964 | 2.91% |
| Asian | 494 | $253,700,000 | $513,563 | $6,483 | 2.87% |
| Black | 432 | $201,910,000 | $467,384 | $7,369 | 2.98% |
| Asian Indian | 52 | $28,650,000 | $550,962 | $6,195 | 2.91% |
| American Indian | 41 | $22,255,000 | $542,805 | $6,589 | 2.89% |
| Other Asian | 24 | $12,270,000 | $511,250 | $7,245 | 2.82% |
| Native Hawaiian | 5 | $2,565,000 | $513,000 | $7,147 | 2.85% |
| Filipino | 4 | $2,510,000 | $627,500 | $9,936 | 2.88% |
| Korean | 3 | $1,405,000 | $468,333 | $4,234 | 2.88% |
| Chinese | 3 | $1,015,000 | $338,333 | $5,938 | 2.54% |
| Japanese | 2 | $790,000 | $395,000 | $10,135 | 2.88% |
| Other Pacific Islander | 1 | $455,000 | $455,000 | $3,743 | 3.25% |
| Vietnamese | 1 | $265,000 | $265,000 | $5,941 | 3.63% |
Approval Rates
Total approvals of all applications99.10%
First Savings Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.79%
First Savings Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,955 | $3,868,835,000 | $556,267 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6,955 | $3,868,835,000 | $556,267 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 332 | $111,400,000 | $335,542 | $4,298 | 2.70% |
| 40-60% | 1,270 | $595,450,000 | $468,858 | $4,919 | 2.78% |
| 60-80% | 2,557 | $1,558,945,000 | $609,677 | $6,595 | 2.93% |
| 80-100% | 2,625 | $1,534,175,000 | $584,448 | $7,701 | 2.95% |
| Over 100% | 103 | $59,855,000 | $581,117 | $22,052 | 2.63% |
| Under 20% | 67 | $8,395,000 | $125,299 | $1,827 | 3.48% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HOME MORTGAGE CORPORATION | Other type of mortgage | Closing on a mortgage | 1 | 10.0% |
| FIRST HOME MORTGAGE CORPORATION | Conventional home mortgage | Trouble during payment process | 7 | 70.0% |
| FIRST HOME MORTGAGE CORPORATION | Conventional home mortgage | Closing on a mortgage | 1 | 10.0% |
| FIRST HOME MORTGAGE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
