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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.30% | 11/21/24 |
| 30 Year Conventional Refi | 6.24% | 11/21/24 |
| 30 Year Cash-out Refi | 6.49% | 11/21/24 |
| 30 Year FHA Purchase | 7.13% | 11/21/24 |
| 30 Year FHA Refi | 6.79% | 11/21/24 |
| 30 Year VA Purchase | 6.09% | 11/21/24 |
| 30 Year VA Refi | 5.64% | 11/21/24 |
| 15 Year Conventional Purchase | 6.20% | 11/21/24 |
| 15 Year Conventional Refi | 5.94% | 11/21/24 |
| 15 Year Cash-out Refi | 5.94% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,781Origination Dollar Volume (All Markets)
$1,698,355,000Top 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% |
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.
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Product Mix
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
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
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
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
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
2022 saw First Savings Mortgage Corporation place emphasis on $600k-1MM loans with 886 originations, totaling $666,240,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.62%
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 origination77.17%
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
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% |