First Savings Mortgage Corporation Rates, Fees & Info

MCLEAN, VA

LEI: 549300CF8MP6S7MZV277

Tax ID: 54-1476331

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Washington, Baltimore, Virginia Beach, Salisbury, and Richmond among others. We have data for 48 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.30% 4/18/24
    30 Year Conventional Refi 6.24% 4/18/24
    30 Year Cash-out Refi 6.49% 4/18/24
    30 Year FHA Purchase 7.13% 4/18/24
    30 Year FHA Refi 6.79% 4/18/24
    30 Year VA Purchase 6.09% 4/18/24
    30 Year VA Refi 5.64% 4/18/24
    15 Year Conventional Purchase 6.20% 4/18/24
    15 Year Conventional Refi 5.94% 4/18/24
    15 Year Cash-out Refi 5.94% 4/18/24
    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

    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

    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) 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.

    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.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    Member Options, LLC
    Similarity Rank: 279
    HENRICO Federal Credit Union
    Similarity Rank: 420
    DUPONT COMMUNITY
    Similarity Rank: 476
    POINT BREEZE
    Similarity Rank: 477
    ABNB Federal Credit Union
    Similarity Rank: 544
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    Hebron Savings Bank
    Similarity Rank: 676
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 722
    Securityplus FCU
    Similarity Rank: 736

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First Savings Mortgage Corporation's most frequently originated type of loan was Conventional, with 6,450 originations. Their 2nd most popular type was VA, with 398 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First Savings Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3,816 originations. The 2nd most popular reason was 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 2021, First Savings Mortgage Corporation's most frequently cited loan duration was 30 Year, with 6,167 originations. The 2nd most popular length was 15 Year, with 563 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 4,269 $2,140,565,000 $501,421
    $5k+ 1,157 $985,095,000 $851,422
    $2k-3k 658 $273,420,000 $415,532
    $3k-4k 477 $259,765,000 $544,581
    $4k-5k 332 $195,620,000 $589,217
    $<1k 62 $14,370,000 $231,774

    First Savings Mortgage Corporation's average total fees were $7,069, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.95%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    99.40%

    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
    83.35%

    First Savings Mortgage Corporation has a below 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%