First Savings Mortgage Corporation Rates, Fees & Info

MCLEAN, VA

LEI: 549300CF8MP6S7MZV277

Tax ID: 54-1476331

3.3 stars - out of 5 stars, based on 83 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

6,955

Origination Dollar Volume (All Markets)

$3,868,835,000

Awards

FIRST SAVINGS MORTGAGE CORPORATION 30 Year Conventional Loans gold FIRST SAVINGS MORTGAGE CORPORATION 30 Year Conventional Loans bronze
Show all (2) awards

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 applications
99.10%

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 origination
94.79%

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%