First Savings Mortgage Corporation Rates, Fees & Info

MCLEAN, VA

LEI: 549300CF8MP6S7MZV277

Tax ID: 54-1476331

3.7 stars - Updated: 10/29/24 - out of 5 stars, based on 42 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

First Savings Mortgage Corporation is a smaller mortgage company specializing in Home Purchase 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Baltimore, Richmond, Virginia Beach, and Miami among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Savings Mortgage Corporation 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 Savings Mortgage Corporation is typically a high 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 relatively high 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
30 Year Conventional Purchase 6.30% 10/29/24
30 Year Conventional Refi 6.24% 10/29/24
30 Year Cash-out Refi 6.49% 10/29/24
30 Year FHA Purchase 7.13% 10/29/24
30 Year FHA Refi 6.79% 10/29/24
30 Year VA Purchase 6.09% 10/29/24
30 Year VA Refi 5.64% 10/29/24
15 Year Conventional Purchase 6.20% 10/29/24
15 Year Conventional Refi 5.94% 10/29/24
15 Year Cash-out Refi 5.94% 10/29/24
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 Savings Mortgage Corporation Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Savings Mortgage Corporation. 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

1,724

Origination Dollar Volume (All Markets)

$994,480,000

Relative Rate

First Savings Mortgage Corporation's average 30 year fixed mortgage rate was 6.56%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.08%.

Relative Fees (Closing Costs)

First Savings Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $10,107.

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 $9,089.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1,505 $897,865,000 $596,588 $10,174 6.54%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 96 $44,460,000 $463,125 $9,222 6.57%
RICHMOND, VA (FHA|USDA|VA) 18 $6,780,000 $376,667 $8,754 6.56%
Outside of Metro Areas 18 $6,530,000 $362,778 $8,291 6.64%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 13 $4,915,000 $378,077 $7,387 6.53%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $4,730,000 $591,250 $9,950 6.86%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $3,760,000 $626,667 $13,261 7.04%
SALISBURY, MD-DE (FHA|USDA|VA) 7 $3,345,000 $477,857 $9,864 7.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 5 $3,145,000 $629,000 $7,269 6.25%
WINCHESTER, VA-WV (FHA|USDA|VA) 7 $2,915,000 $416,429 $7,277 6.70%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $2,030,000 $507,500 $5,544 6.31%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $1,470,000 $367,500 $8,353 6.91%
Easton, MD (FHA|USDA|VA) 3 $1,185,000 $395,000 $10,300 7.17%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $1,135,000 $378,333 $10,404 6.42%
LYNCHBURG, VA (FHA|USDA|VA) 2 $1,030,000 $515,000 $8,816 7.06%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $945,000 $945,000 $5,519 5.50%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $940,000 $470,000 $11,368 7.38%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $910,000 $455,000 $8,744 6.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $870,000 $435,000 $8,080 7.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $715,000 $715,000 $20,047 6.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $630,000 $315,000 $5,215 6.44%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $630,000 $315,000 $8,757 7.06%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $625,000 $625,000 $12,086 7.63%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $525,000 $525,000 $8,271 6.50%
STAUNTON, VA (FHA|USDA|VA) 2 $370,000 $185,000 $7,495 7.31%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $325,000 $325,000 $12,492 5.75%
ROANOKE, VA (FHA|USDA|VA) 1 $285,000 $285,000 $11,892 6.88%
WILMINGTON, NC (FHA|USDA|VA) 1 $235,000 $235,000 $8,196 7.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $8,449 7.38%
Martinsville, VA (FHA|USDA|VA) 1 $205,000 $205,000 $7,743 5.88%
Cambridge, MD (FHA|USDA|VA) 1 $205,000 $205,000 $5,700 6.63%
HARRISONBURG, VA (FHA|USDA|VA) 1 $205,000 $205,000 $7,567 6.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $6,036 6.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,141 6.13%
First Savings Mortgage Corporation's top markets include Washington, Baltimore, Richmond, Virginia Beach, and Miami among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST SAVINGS MORTGAGE CORPORATION 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 1,479 $842,115,000 $569,381 $8,839 6.59%
    VA 159 $105,865,000 $665,818 $16,634 6.21%
    FHA 85 $46,215,000 $543,706 $18,137 6.57%
    USDA 1 $285,000 $285,000 $9,468 6.50%

    For 2023, First Savings Mortgage Corporation's most frequently originated type of loan was Conventional, with 1,479 originations. Their 2nd most popular type was VA, with 159 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,585 $910,685,000 $574,565 $10,167 6.52%
    Refi 100 $65,670,000 $656,700 $7,697 6.73%
    Cash Out Refi 39 $18,125,000 $464,744 $9,834 7.43%

    For 2023, First Savings Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 1,585 originations. The 2nd most popular reason was Refi, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,681 $977,315,000 $581,389 $10,107 6.56%
    15 Year 33 $14,375,000 $435,606 $6,468 6.08%
    20 Year 7 $2,465,000 $352,143 $7,449 7.63%
    10 Year 2 $170,000 $85,000 $4,938 8.06%
    Other 1 $155,000 $155,000 $3,656 8.38%

    For 2023, First Savings Mortgage Corporation's most frequently cited loan duration was 30 Year, with 1,681 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 693 $443,435,000 $639,877
    $1k-2k 567 $352,185,000 $621,138
    $3k-4k 169 $79,005,000 $467,485
    $4k-5k 153 $67,455,000 $440,882
    $2k-3k 133 $50,615,000 $380,564
    $<1k 9 $1,785,000 $198,333

    First Savings Mortgage Corporation's average total fees were $10,107, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 693 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 870 $484,460,000 $556,851
    5-6% 443 $285,945,000 $645,474
    7-8% 393 $218,325,000 $555,534
    Over 8% 17 $5,315,000 $312,647
    4-5% 1 $435,000 $435,000

    During 2023, First Savings Mortgage Corporation's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 6-7%, with 870 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 528 $259,350,000 $491,193 $9,258 6.57%
    $600k-1MM 522 $392,970,000 $752,816 $12,349 6.43%
    $200k-400k 410 $126,560,000 $308,683 $7,375 6.69%
    $1MM+ 154 $199,820,000 $1,297,532 $15,282 6.47%
    $100k-200k 95 $14,995,000 $157,842 $5,474 6.71%
    $100,000 or less 15 $785,000 $52,333 $2,470 6.96%

    2023 saw First Savings Mortgage Corporation place emphasis on $400k-600k loans with 528 originations, totaling $259,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 534 $303,200,000 $567,790 $10,589 6.55%
    $250k+ 519 $437,785,000 $843,516 $11,822 6.56%
    $100k-150k 364 $160,460,000 $440,824 $9,107 6.52%
    $75k-100k 159 $52,455,000 $329,906 $7,301 6.61%
    $50k-75k 100 $25,300,000 $253,000 $6,835 6.54%
    $50k or less 47 $14,675,000 $312,234 $6,418 6.73%

    First Savings Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 534 originations. The second most popular income band? $250k+, with 519 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 329 $184,655,000 $561,261 $9,147 6.51%
    30-36% 310 $186,230,000 $600,742 $9,531 6.54%
    42% 95 $67,095,000 $706,263 $9,634 6.50%
    41% 81 $58,295,000 $719,691 $11,982 6.48%
    39% 81 $46,455,000 $573,519 $8,503 6.55%
    50-60% 78 $49,650,000 $636,538 $19,068 6.38%
    49% 77 $37,805,000 $490,974 $9,504 6.72%
    44% 74 $35,520,000 $480,000 $9,752 6.64%
    <20% 73 $32,645,000 $447,192 $8,107 6.66%
    38% 69 $41,805,000 $605,870 $9,856 6.62%
    40% 67 $40,085,000 $598,284 $9,156 6.54%
    36% 65 $39,115,000 $601,769 $8,784 6.53%
    37% 64 $39,310,000 $614,219 $9,422 6.54%
    43% 61 $29,995,000 $491,721 $9,892 6.61%
    47% 50 $24,180,000 $483,600 $8,808 6.57%
    45% 49 $24,105,000 $491,939 $9,580 6.67%
    48% 45 $25,355,000 $563,444 $12,097 6.69%
    46% 39 $18,975,000 $486,538 $9,293 6.73%
    >60% 16 $12,600,000 $787,500 $18,324 6.40%

    First Savings Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 329 originations. The next most common DTI ratio? 30-36%, with 310 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,167 $681,015,000 $583,560 $9,944 6.54%
    Not provided 267 $155,725,000 $583,240 $10,092 6.59%
    Asian 143 $80,335,000 $561,783 $9,382 6.59%
    Black 106 $53,330,000 $503,113 $11,502 6.55%
    Asian Indian 16 $10,850,000 $678,125 $10,293 6.75%
    American Indian 13 $6,225,000 $478,846 $10,199 6.50%
    Other Asian 5 $2,675,000 $535,000 $11,303 6.55%
    Filipino 2 $1,450,000 $725,000 $8,197 6.69%
    Korean 1 $1,095,000 $1,095,000 $6,242 6.25%
    Native Hawaiian or Islander 1 $735,000 $735,000 $17,519 6.63%
    Japanese 1 $405,000 $405,000 $6,786 6.63%
    Vietnamese 1 $405,000 $405,000 $4,631 6.88%
    Chinese 1 $235,000 $235,000 $3,752 7.13%

    Approval Rates

    Total approvals of all applications
    99.03%

    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 origination
    75.29%

    First Savings Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,724 $994,480,000 $576,845

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,724 $994,480,000 $576,845

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 81 $30,145,000 $372,160 $6,564 6.60%
    40-60% 186 $87,710,000 $471,559 $7,707 6.62%
    60-80% 552 $351,640,000 $637,029 $9,633 6.61%
    80-100% 848 $502,290,000 $592,323 $10,762 6.49%
    Over 100% 30 $19,430,000 $647,667 $25,268 6.20%
    Under 20% 27 $3,265,000 $120,926 $3,767 7.16%