First Home Bank Mortgage Rates, Fees & Info

Saint Petersburg, FL

LEI: 549300DMI3W6YLDVSK93

Tax ID: 59-3526917

4.4 stars - Updated: 6/17/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

First Home Bank is a smaller bank specializing in Home Improvement, Other, and Home Purchase loans. First Home Bank has an average proportion of conventional loans. Their top markets by origination volume include: Tampa, North Port, Orlando, Lakeland, and Punta Gorda among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Home Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Home Bank is typically a low 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 relatively high 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 6.44% 6/17/24
30 Year Conventional Refi 6.36% 6/17/24
30 Year Cash-out Refi 6.56% 6/17/24
30 Year FHA Purchase 7.14% 6/17/24
30 Year FHA Refi 6.32% 6/17/24
30 Year VA Purchase 6.15% 6/17/24
30 Year VA Refi 3.11% 6/17/24
30 Year USDA Purchase 6.25% 6/17/24
15 Year Conventional Purchase 6.05% 6/17/24
15 Year Conventional Refi 6.22% 6/17/24
15 Year Cash-out Refi 6.22% 6/17/24
15 Year FHA Purchase 4.48% 6/17/24
15 Year FHA Refi 5.68% 6/17/24
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 Home Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Home Bank. 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

720

Origination Dollar Volume (All Markets)

$131,600,000

Relative Rate

First Home Bank's average 30 year fixed mortgage rate was 8.73%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 2.25%.

Relative Fees (Closing Costs)

First Home Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,877.

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 $9,089.

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
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 389 $65,595,000 $168,625 $319 8.44%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 296 $61,350,000 $207,264 $2,443 8.47%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,055,000 $211,000 $0 8.75%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 9 $825,000 $91,667 $132 8.78%
PUNTA GORDA, FL (FHA|USDA|VA) 6 $670,000 $111,667 $0 7.96%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $305,000 $305,000 $0 5.13%
GAINESVILLE, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 6.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $285,000 $285,000 $0 8.50%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $275,000 $91,667 $578 8.83%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $200,000 $100,000 $0 7.88%
Arcadia, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.75%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $55,000 $55,000 $0 9.50%
First Home Bank's top markets include Tampa, North Port, Orlando, Lakeland, and Punta Gorda among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First Home Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Walden Savings Bank
    Similarity Rank: 15
    DEL-ONE FEDERAL CREDIT UNION
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    OCEAN STATE CREDIT UNION
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    Charter Oak Federal Credit Union
    Similarity Rank: 56
    ABNB Federal Credit Union
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    HOMEFIELD
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    MISSION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 539 $94,325,000 $175,000 n/a 8.80%
    Conventional 181 $37,275,000 $205,939 $898 7.40%

    For 2023, First Home Bank's most frequently originated type of loan was HELOC, with 539 originations. Their 2nd most popular type was Conventional, with 181 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 328 $52,050,000 $158,689 $144 8.57%
    Other 296 $39,130,000 $132,196 $26 8.61%
    Home Purchase 46 $28,330,000 $615,870 $9,781 6.83%
    Refi 44 $10,600,000 $240,909 $609 8.31%
    Cash Out Refi 6 $1,490,000 $248,333 $1,803 7.02%

    For 2023, First Home Bank's most frequently cited loan purpose was Home Improvement, with 328 originations. The 2nd most popular reason was Other, with 296 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 556 $94,930,000 $170,737 $2,877 8.73%
    20 Year 92 $10,660,000 $115,870 $105 7.78%
    10 Year 23 $1,895,000 $82,391 $25 7.38%
    15 Year 20 $2,340,000 $117,000 $0 7.81%
    Other 17 $12,435,000 $731,471 $0 6.18%
    5 Year 8 $470,000 $58,750 $36 6.84%
    30+ year 4 $8,870,000 $2,217,500 $23,847 7.00%

    For 2023, First Home Bank's most frequently cited loan duration was 30 Year, with 556 originations. The 2nd most popular length was 20 Year, with 92 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 145 $15,295,000 $105,483
    $1k-2k 8 $2,600,000 $325,000
    $5k+ 3 $8,565,000 $2,855,000
    $2k-3k 1 $305,000 $305,000

    First Home Bank's average total fees were $2,877, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 145 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 523 $83,885,000 $160,392
    7-8% 147 $24,625,000 $167,517
    6-7% 29 $5,405,000 $186,379
    5-6% 18 $16,810,000 $933,889
    4-5% 3 $875,000 $291,667

    During 2023, First Home Bank's average interest rate for loans was 8.73%, while their most frequently originated rate bucket for loans was Over 8%, with 523 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 283 $39,185,000 $138,463 $132 8.62%
    $100,000 or less 243 $14,695,000 $60,473 $32 8.49%
    $200k-400k 141 $37,305,000 $264,574 $1,399 8.25%
    $400k-600k 39 $17,985,000 $461,154 $3,327 7.98%
    $1MM+ 7 $16,985,000 $2,426,429 $28,816 6.82%
    $600k-1MM 7 $5,445,000 $777,857 $0 8.00%

    2023 saw First Home Bank place emphasis on $100k-200k loans with 283 originations, totaling $39,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 197 $29,035,000 $147,386 $316 8.50%
    $150k-250k 164 $33,180,000 $202,317 $807 8.44%
    $75k-100k 112 $13,410,000 $119,732 $154 8.54%
    $250k+ 102 $37,860,000 $371,176 $6,136 8.33%
    $50k-75k 84 $7,460,000 $88,810 $375 8.46%
    $50k or less 36 $2,260,000 $62,778 $42 8.34%

    First Home Bank lent most frequently to those with incomes in the $100k-150k range, with 197 originations. The second most popular income band? $150k-250k, with 164 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 106 $17,820,000 $168,113 $1,539 8.59%
    49% 88 $12,260,000 $139,318 $23 8.69%
    30-36% 86 $15,050,000 $175,000 $383 8.44%
    20-30% 78 $12,020,000 $154,103 $18 8.31%
    45% 37 $6,195,000 $167,432 $2,720 8.46%
    43% 36 $5,510,000 $153,056 $59 8.53%
    44% 35 $5,845,000 $167,000 $864 8.53%
    48% 31 $4,515,000 $145,645 $0 8.32%
    <20% 29 $11,885,000 $409,828 $5,634 8.13%
    40% 25 $5,865,000 $234,600 $932 8.15%
    38% 25 $4,695,000 $187,800 $844 8.36%
    42% 24 $4,370,000 $182,083 $1,277 8.08%
    46% 23 $3,625,000 $157,609 $49 8.40%
    39% 20 $3,580,000 $179,000 $1,315 8.36%
    36% 20 $2,520,000 $126,000 $0 8.63%
    41% 17 $3,035,000 $178,529 $201 8.60%
    37% 17 $3,395,000 $199,706 $1,601 8.35%
    47% 17 $2,825,000 $166,176 $0 8.57%
    >60% 2 $200,000 $100,000 $0 9.50%

    First Home Bank lent most frequently to those with DTI ratios of 50-60%, with 106 originations. The next most common DTI ratio? 49%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 564 $98,630,000 $174,876 $933 8.46%
    Not provided 108 $19,160,000 $177,407 $1,122 8.53%
    Not applicable 4 $6,390,000 $1,597,500 $0 6.78%
    Black 20 $2,740,000 $137,000 $0 8.23%
    Asian 10 $2,620,000 $262,000 $1,269 7.78%
    American Indian 6 $1,150,000 $191,667 $263 8.75%
    Asian Indian 3 $415,000 $138,333 $0 8.75%
    Native Hawaiian or Islander 2 $230,000 $115,000 $0 8.00%
    Filipino 2 $190,000 $95,000 $0 7.75%
    Other Asian 1 $75,000 $75,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    78.24%

    First Home Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.75%

    First Home Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 720 $131,600,000 $182,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    720 $131,600,000 $182,778

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 293 $51,575,000 $176,024 $165 8.57%
    40-60% 76 $26,080,000 $343,158 $8,033 8.49%
    60-80% 36 $15,790,000 $438,611 $6,148 7.49%
    80-100% 15 $5,545,000 $369,667 $3,338 6.92%
    Under 20% 299 $27,605,000 $92,324 $47 8.52%