First Savings Mortgage Corporation Rates, Fees & Info
MCLEAN, VALEI: 549300CF8MP6S7MZV277
Tax ID: 54-1476331
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.30% | 11/17/24 |
| 30 Year Conventional Refi | 6.24% | 11/17/24 |
| 30 Year Cash-out Refi | 6.49% | 11/17/24 |
| 30 Year FHA Purchase | 7.13% | 11/17/24 |
| 30 Year FHA Refi | 6.79% | 11/17/24 |
| 30 Year VA Purchase | 6.09% | 11/17/24 |
| 30 Year VA Refi | 5.64% | 11/17/24 |
| 15 Year Conventional Purchase | 6.20% | 11/17/24 |
| 15 Year Conventional Refi | 5.94% | 11/17/24 |
| 15 Year Cash-out Refi | 5.94% | 11/17/24 |
| 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
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This is not an official calculator from First Savings Mortgage Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,724Origination Dollar Volume (All Markets)
$994,480,000Relative 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% |
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.
Similarity Rank: 17
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Product Mix
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
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
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
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
2023 saw First Savings Mortgage Corporation place emphasis on $400k-600k loans with 528 originations, totaling $259,350,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.03%
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 origination75.29%
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 |