First Savings Mortgage Corporation Rates, Fees & Info

MCLEAN, VA

LEI: 549300CF8MP6S7MZV277

Tax ID: 54-1476331

2.3 stars - Updated: 2/26/24 - out of 5 stars, based on 53 reviews

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

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Mortgage Data

Review & Overview

First Savings Mortgage Corporation is a small 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.) Their top markets by origination volume include: Washington, Baltimore, Charleston, Salisbury, and Richmond among others. We have data for 46 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 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.

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% 2/26/24
30 Year Conventional Refi 6.24% 2/26/24
30 Year Cash-out Refi 6.49% 2/26/24
30 Year FHA Purchase 7.13% 2/26/24
30 Year FHA Refi 6.79% 2/26/24
30 Year VA Purchase 6.09% 2/26/24
30 Year VA Refi 5.64% 2/26/24
15 Year Conventional Purchase 6.20% 2/26/24
15 Year Conventional Refi 5.94% 2/26/24
15 Year Cash-out Refi 5.94% 2/26/24
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

2,781

Origination Dollar Volume (All Markets)

$1,698,355,000

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 mortgage rate was 4.65%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.11%.

Relative Fees (Closing Costs)

First Savings Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $9,581.

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 $4,750.

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) 2,460 $1,553,630,000 $631,557 $9,636 4.59%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 125 $61,295,000 $490,360 $8,143 4.97%
Outside of Metro Areas 30 $10,860,000 $362,000 $5,789 5.19%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 12 $8,170,000 $680,833 $8,983 4.42%
SALISBURY, MD-DE (FHA|USDA|VA) 15 $7,645,000 $509,667 $7,874 5.05%
RICHMOND, VA (FHA|USDA|VA) 19 $7,545,000 $397,105 $7,125 4.97%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 10 $5,420,000 $542,000 $8,627 4.54%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 13 $4,515,000 $347,308 $6,690 4.62%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 9 $3,135,000 $348,333 $10,072 4.69%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 10 $3,100,000 $310,000 $5,696 4.66%
WINCHESTER, VA-WV (FHA|USDA|VA) 9 $2,845,000 $316,111 $5,122 5.39%
ROANOKE, VA (FHA|USDA|VA) 5 $2,665,000 $533,000 $8,299 4.75%
WILMINGTON, NC (FHA|USDA|VA) 4 $2,330,000 $582,500 $8,935 4.66%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 4 $2,300,000 $575,000 $8,890 4.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $2,225,000 $741,667 $15,483 3.79%
Key West, FL (FHA|USDA|VA) 1 $1,955,000 $1,955,000 $13,669 4.88%
RALEIGH-CARY, NC (FHA|USDA|VA) 5 $1,885,000 $377,000 $4,097 3.90%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $1,260,000 $315,000 $5,803 4.66%
Easton, MD (FHA|USDA|VA) 3 $1,115,000 $371,667 $4,999 4.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $1,105,000 $368,333 $6,984 5.42%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $1,100,000 $550,000 $5,242 5.38%
Cambridge, MD (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $28,325 4.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $855,000 $285,000 $10,293 4.96%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $810,000 $405,000 $9,445 5.19%
THE VILLAGES, FL (FHA|USDA|VA) 1 $805,000 $805,000 $3,315 3.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $795,000 $265,000 $5,765 4.92%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $685,000 $685,000 $4,771 6.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $670,000 $335,000 $8,660 5.44%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $670,000 $335,000 $4,831 5.63%
HARRISONBURG, VA (FHA|USDA|VA) 2 $580,000 $290,000 $4,972 3.56%
Morehead City, NC (FHA|USDA|VA) 1 $555,000 $555,000 $4,211 3.75%
ASHEVILLE, NC (FHA|USDA|VA) 2 $540,000 $270,000 $3,928 5.13%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $485,000 $485,000 $9,120 6.75%
LYNCHBURG, VA (FHA|USDA|VA) 1 $485,000 $485,000 $6,652 3.13%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $470,000 $235,000 $5,942 5.50%
BURLINGTON, NC (FHA|USDA|VA) 1 $465,000 $465,000 $8,413 4.50%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $465,000 $465,000 $8,828 5.13%
COLUMBIA, SC (FHA|USDA|VA) 1 $395,000 $395,000 $6,969 5.38%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $5,352 3.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $235,000 $235,000 $6,230 5.50%
OCALA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $6,649 3.50%
Forest City, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,889 5.63%
Wilson, NC (FHA|USDA|VA) 1 $175,000 $175,000 $3,840 5.88%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,006 3.13%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,605 4.88%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $85,000 $85,000 $5,389 3.88%
First Savings Mortgage Corporation's top markets include Washington, Baltimore, Charleston, Salisbury, and Richmond among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,505 $1,543,485,000 $616,162 $8,661 4.63%
    VA 196 $121,770,000 $621,276 $16,699 4.43%
    FHA 80 $33,100,000 $413,750 $14,485 4.84%

    For 2022, First Savings Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,505 originations. Their 2nd most popular type was VA, with 196 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,373 $1,458,035,000 $614,427 $9,716 4.71%
    Refi 224 $135,770,000 $606,116 $7,144 4.01%
    Cash Out Refi 184 $104,550,000 $568,207 $7,998 4.27%

    For 2022, First Savings Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 2,373 originations. The 2nd most popular reason was Refi, with 224 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,649 $1,649,595,000 $622,724 $9,581 4.65%
    15 Year 78 $26,260,000 $336,667 $5,517 3.69%
    20 Year 36 $17,350,000 $481,944 $6,459 3.64%
    Other 16 $3,520,000 $220,000 $3,651 6.52%
    30+ year 2 $1,630,000 $815,000 $14,768 5.19%

    For 2022, First Savings Mortgage Corporation's most frequently cited loan duration was 30 Year, with 2,649 originations. The 2nd most popular length was 15 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,036 $749,150,000 $723,118
    $1k-2k 944 $577,210,000 $611,451
    $3k-4k 276 $131,160,000 $475,217
    $4k-5k 268 $142,110,000 $530,261
    $2k-3k 233 $89,185,000 $382,768
    $<1k 24 $9,540,000 $397,500

    First Savings Mortgage Corporation's average total fees were $9,581, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,036 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 858 $555,120,000 $646,993
    3-4% 772 $505,730,000 $655,091
    5-6% 712 $402,740,000 $565,646
    6-7% 216 $94,490,000 $437,454
    2.5-3% 152 $110,900,000 $729,605
    7-8% 42 $15,190,000 $361,667
    <2.5% 26 $13,140,000 $505,385
    Over 8% 3 $1,045,000 $348,333

    During 2022, First Savings Mortgage Corporation's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 858 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 886 $666,240,000 $751,964 $10,630 4.50%
    $400k-600k 750 $371,080,000 $494,773 $8,633 4.76%
    $200k-400k 665 $206,085,000 $309,902 $6,835 4.77%
    $1MM+ 332 $432,710,000 $1,303,343 $15,104 4.17%
    $100k-200k 137 $21,725,000 $158,577 $4,738 4.97%
    $100,000 or less 11 $515,000 $46,818 $2,126 5.56%

    2022 saw First Savings Mortgage Corporation place emphasis on $600k-1MM loans with 886 originations, totaling $666,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 860 $528,010,000 $613,965 $9,493 4.61%
    $250k+ 831 $739,915,000 $890,391 $10,981 4.50%
    $100k-150k 562 $254,340,000 $452,562 $8,975 4.72%
    $75k-100k 283 $101,675,000 $359,276 $7,470 4.76%
    $50k-75k 178 $51,880,000 $291,461 $7,007 4.68%
    $50k or less 61 $19,265,000 $315,820 $6,503 4.76%

    First Savings Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 860 originations. The second most popular income band? $250k+, with 831 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 635 $376,255,000 $592,528 $8,587 4.46%
    30-36% 572 $371,430,000 $649,353 $9,141 4.55%
    <20% 189 $115,815,000 $612,778 $8,416 4.24%
    41% 135 $90,045,000 $667,000 $9,405 4.69%
    42% 132 $94,030,000 $712,348 $9,803 4.96%
    40% 122 $71,210,000 $583,689 $9,527 4.91%
    39% 117 $84,135,000 $719,103 $10,649 4.59%
    38% 115 $82,815,000 $720,130 $10,573 4.81%
    36% 106 $67,740,000 $639,057 $9,510 4.48%
    37% 105 $63,725,000 $606,905 $8,681 4.68%
    44% 96 $48,200,000 $502,083 $9,799 4.62%
    48% 83 $43,635,000 $525,723 $10,478 4.90%
    43% 80 $39,110,000 $488,875 $8,973 4.99%
    50-60% 67 $37,955,000 $566,493 $16,988 4.79%
    45% 64 $30,920,000 $483,125 $8,367 4.95%
    49% 54 $28,300,000 $524,074 $10,000 5.23%
    46% 46 $21,880,000 $475,652 $8,110 4.78%
    47% 45 $20,545,000 $456,556 $8,928 4.67%
    >60% 13 $7,705,000 $592,692 $14,735 4.43%

    First Savings Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 635 originations. The next most common DTI ratio? 30-36%, with 572 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,948 $1,215,870,000 $624,163 $9,291 4.59%
    Not provided 365 $220,945,000 $605,329 $9,604 4.67%
    Asian 209 $122,565,000 $586,435 $9,207 4.69%
    Black 203 $104,545,000 $515,000 $9,987 4.80%
    Asian Indian 23 $14,895,000 $647,609 $8,155 4.55%
    American Indian 14 $8,310,000 $593,571 $13,618 4.47%
    Other Asian 8 $3,810,000 $476,250 $6,664 4.09%
    Native Hawaiian or Islander 4 $3,030,000 $757,500 $18,671 4.34%
    Chinese 2 $1,670,000 $835,000 $10,546 4.75%
    Korean 2 $1,390,000 $695,000 $7,577 4.38%
    Vietnamese 2 $770,000 $385,000 $5,446 6.69%
    Filipino 1 $555,000 $555,000 $19,913 6.63%

    Approval Rates

    Total approvals of all applications
    99.62%

    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
    77.17%

    First Savings Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,781 $1,698,355,000 $610,699

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,781 $1,698,355,000 $610,699

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 96 $34,790,000 $362,396 $5,685 4.61%
    40-60% 257 $132,575,000 $515,856 $7,126 4.33%
    60-80% 879 $574,265,000 $653,316 $9,049 4.61%
    80-100% 1,469 $920,975,000 $626,940 $9,763 4.67%
    Over 100% 54 $31,640,000 $585,926 $25,390 4.34%
    Under 20% 26 $4,110,000 $158,077 $3,197 5.52%

    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%