First Savings Mortgage Corporation Rates, Fees & Info

MCLEAN, VA

LEI: 549300CF8MP6S7MZV277

Tax ID: 54-1476331

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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, Miami, Salisbury, and Virginia Beach among others. We have data for 39 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 an above average pick rate when compared to similar lenders. First Savings Mortgage Corporation is typically an average 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% 3/28/24
30 Year Conventional Refi 6.24% 3/28/24
30 Year Cash-out Refi 6.49% 3/28/24
30 Year FHA Purchase 7.13% 3/28/24
30 Year FHA Refi 6.79% 3/28/24
30 Year VA Purchase 6.09% 3/28/24
30 Year VA Refi 5.64% 3/28/24
15 Year Conventional Purchase 6.20% 3/28/24
15 Year Conventional Refi 5.94% 3/28/24
15 Year Cash-out Refi 5.94% 3/28/24
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

2,807

Origination Dollar Volume (All Markets)

$1,384,405,000

Awards

FIRST SAVINGS MORTGAGE CORPORATION 30 Year Conventional Loans bronze FIRST SAVINGS MORTGAGE CORPORATION FHA Loans bronze FIRST SAVINGS MORTGAGE CORPORATION FHA Loans bronze FIRST SAVINGS MORTGAGE CORPORATION VA Loans bronze
Show all (4) awards

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) 2,557 $1,300,865,000 $508,747 $6,888 4.53%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 109 $39,425,000 $361,697 $5,399 4.62%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $5,450,000 $454,167 $6,987 4.15%
SALISBURY, MD-DE (FHA|USDA|VA) 13 $5,175,000 $398,077 $5,108 4.50%
Outside of Metro Areas 12 $4,640,000 $386,667 $5,560 4.57%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 11 $3,255,000 $295,909 $4,845 4.68%
RICHMOND, VA (FHA|USDA|VA) 11 $3,145,000 $285,909 $5,515 4.65%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $2,540,000 $254,000 $4,151 4.09%
RALEIGH-CARY, NC (FHA|USDA|VA) 8 $2,300,000 $287,500 $3,203 3.92%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 7 $1,835,000 $262,143 $4,314 4.50%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $1,600,000 $266,667 $3,906 4.42%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,455,000 $291,000 $4,562 4.03%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,290,000 $322,500 $3,679 4.09%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $1,190,000 $297,500 $2,620 4.69%
Easton, MD (FHA|USDA|VA) 2 $990,000 $495,000 $4,902 4.50%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $870,000 $217,500 $3,085 4.03%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $830,000 $415,000 $3,979 5.19%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $730,000 $365,000 $14,247 4.63%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $610,000 $305,000 $8,628 4.19%
Key West, FL (FHA|USDA|VA) 1 $605,000 $605,000 $11,659 4.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $565,000 $188,333 $4,597 4.63%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $525,000 $525,000 $24,651 4.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $505,000 $505,000 $9,659 5.00%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $430,000 $215,000 $3,904 4.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,409 4.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,650 4.13%
WILMINGTON, NC (FHA|USDA|VA) 2 $340,000 $170,000 $4,274 4.94%
Cambridge, MD (FHA|USDA|VA) 2 $320,000 $160,000 $2,951 4.69%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $305,000 $305,000 $5,916 4.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $265,000 $265,000 $4,123 3.88%
GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $2,620 4.50%
ROANOKE, VA (FHA|USDA|VA) 2 $240,000 $120,000 $4,295 4.94%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,632 4.25%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,567 3.75%
LYNCHBURG, VA (FHA|USDA|VA) 1 $175,000 $175,000 $5,427 4.75%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,151 3.88%
COLUMBIA, SC (FHA|USDA|VA) 1 $165,000 $165,000 $3,242 4.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $115,000 $115,000 $3,555 4.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $85,000 $85,000 $4,594 5.25%
First Savings Mortgage Corporation's top markets include Washington, Baltimore, Miami, Salisbury, and Virginia Beach 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.

    APL
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    DUPONT COMMUNITY
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    DOMINION ENERGY CREDIT UNION
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    FIRST FINANCIAL OF MARYLAND
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,448 $1,210,880,000 $494,641 $6,099 4.55%
    VA 230 $122,270,000 $531,609 $11,019 4.27%
    FHA 129 $51,255,000 $397,326 $11,243 4.45%

    For 2018, First Savings Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,448 originations. Their 2nd most popular type was VA, with 230 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,432 $1,202,110,000 $494,289 $6,899 4.53%
    Refi 213 $109,465,000 $513,920 $5,339 4.36%
    Cash Out Refi 157 $71,075,000 $452,707 $6,059 4.63%
    Home Improvement 5 $1,755,000 $351,000 $9,654 5.78%

    For 2018, First Savings Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 2,432 originations. The 2nd most popular reason was Refi, with 213 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,645 $1,325,165,000 $501,008 $6,822 4.53%
    15 Year 108 $36,650,000 $339,352 $4,829 4.30%
    20 Year 28 $11,850,000 $423,214 $5,241 4.23%
    Other 22 $8,740,000 $397,273 $7,343 5.87%
    10 Year 2 $860,000 $430,000 $5,682 3.81%
    30+ year 1 $955,000 $955,000 $18,683 4.38%
    5 Year 1 $185,000 $185,000 $0 6.50%

    For 2018, First Savings Mortgage Corporation's most frequently cited loan duration was 30 Year, with 2,645 originations. The 2nd most popular length was 15 Year, with 108 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,877 $859,155,000 $457,728
    $2k-3k 324 $151,850,000 $468,673
    $5k+ 277 $201,535,000 $727,563
    $3k-4k 169 $94,165,000 $557,189
    $4k-5k 125 $71,375,000 $571,000
    $<1k 35 $6,325,000 $180,714

    First Savings Mortgage Corporation's average total fees were $6,822, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,877 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,268 $1,146,940,000 $505,705
    3-4% 341 $161,745,000 $474,326
    5-6% 170 $70,170,000 $412,765
    6-7% 27 $5,145,000 $190,556
    7-8% 1 $405,000 $405,000

    During 2018, First Savings Mortgage Corporation's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 2,268 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 927 $284,965,000 $307,406 $5,480 4.52%
    $400k-600k 875 $423,955,000 $484,520 $7,004 4.51%
    $600k-1MM 652 $474,380,000 $727,577 $8,190 4.47%
    $100k-200k 195 $31,205,000 $160,026 $3,871 4.66%
    $1MM+ 128 $167,980,000 $1,312,344 $12,140 4.43%
    $100,000 or less 30 $1,920,000 $64,000 $1,754 5.70%

    2018 saw First Savings Mortgage Corporation place emphasis on $200k-400k loans with 927 originations, totaling $284,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 782 $418,240,000 $534,834 $6,801 4.53%
    $100k-150k 698 $295,540,000 $423,410 $6,572 4.53%
    $250k+ 541 $418,095,000 $772,819 $8,165 4.52%
    $75k-100k 414 $145,660,000 $351,836 $5,965 4.51%
    $50k-75k 292 $85,770,000 $293,733 $5,749 4.53%
    $50k or less 80 $21,100,000 $263,750 $5,571 4.53%

    First Savings Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 782 originations. The second most popular income band? $100k-150k, with 698 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 597 $297,295,000 $497,982 $6,208 4.51%
    30-36% 545 $264,325,000 $485,000 $6,371 4.53%
    <20% 166 $77,400,000 $466,265 $5,259 4.44%
    41% 138 $75,620,000 $547,971 $7,617 4.59%
    42% 127 $74,385,000 $585,709 $6,889 4.53%
    40% 126 $61,730,000 $489,921 $6,575 4.60%
    50-60% 118 $60,030,000 $508,729 $10,660 4.37%
    38% 113 $62,355,000 $551,814 $6,649 4.55%
    36% 105 $59,805,000 $569,571 $7,127 4.52%
    37% 104 $56,110,000 $539,519 $7,219 4.43%
    39% 101 $53,405,000 $528,762 $6,563 4.50%
    44% 96 $40,330,000 $420,104 $6,160 4.62%
    43% 95 $40,105,000 $422,158 $7,232 4.57%
    49% 94 $40,060,000 $426,170 $6,887 4.55%
    45% 70 $28,720,000 $410,286 $6,369 4.70%
    47% 66 $25,870,000 $391,970 $7,112 4.51%
    48% 55 $24,855,000 $451,909 $7,143 4.56%
    46% 54 $22,490,000 $416,481 $6,067 4.59%
    >60% 36 $19,090,000 $530,278 $10,238 4.51%

    First Savings Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 597 originations. The next most common DTI ratio? 30-36%, with 545 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,904 $966,960,000 $507,857 $6,665 4.51%
    Not provided 529 $261,365,000 $494,074 $6,731 4.56%
    Asian 211 $88,245,000 $418,223 $6,323 4.49%
    Black 146 $59,910,000 $410,342 $7,972 4.62%
    American Indian 8 $4,270,000 $533,750 $12,203 4.55%
    Asian Indian 7 $2,515,000 $359,286 $6,205 4.93%
    Native Hawaiian or Islander 2 $1,140,000 $570,000 $12,384 4.50%

    Approval Rates

    Total approvals of all applications
    98.07%

    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
    99.93%

    First Savings Mortgage Corporation has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,807 $1,384,405,000 $493,197

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $365,000 $365,000
    Single Family (1-4 Units):Site-Built 2,806 $1,384,040,000 $493,243

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $19,280,000 $292,121 $4,277 4.59%
    40-60% 236 $112,080,000 $474,915 $5,604 4.37%
    60-80% 918 $500,580,000 $545,294 $6,145 4.49%
    80-100% 1,480 $717,040,000 $484,486 $7,133 4.54%
    Over 100% 59 $29,615,000 $501,949 $16,762 4.27%
    Under 20% 48 $5,810,000 $121,042 $2,479 5.72%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST MORTGAGE CORPORATION FHA mortgage Closing on a mortgage 1 100.0%