First Heritage Mortgage Rates, Fees & Info

RESTON, VA

LEI: 549300EM8ID8J7F8OM55

Tax ID: 54-1822464

2.1 stars - Updated: 3/17/24 - out of 5 stars, based on 68 reviews

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

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Mortgage Data

Review & Overview

First Heritage Mortgage is a small mortgage company specializing in Home Purchase loans. First Heritage Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Raleigh, Charlottesville, Columbia, and Richmond among others. We have data for 91 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Heritage Mortgage 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 Heritage Mortgage 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 6.65% 3/17/24
30 Year Conventional Refi 6.50% 3/17/24
30 Year Cash-out Refi 6.80% 3/17/24
30 Year FHA Purchase 7.36% 3/17/24
30 Year FHA Refi 7.50% 3/17/24
30 Year VA Purchase 6.22% 3/17/24
30 Year VA Refi 5.98% 3/17/24
30 Year USDA Purchase 6.67% 3/17/24
15 Year Conventional Purchase 6.05% 3/17/24
15 Year Conventional Refi 6.10% 3/17/24
15 Year Cash-out Refi 6.10% 3/17/24
15 Year VA Purchase 6.27% 3/17/24
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 Heritage Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Heritage Mortgage. 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

4,652

Origination Dollar Volume (All Markets)

$1,955,640,000
Show all (5) awards

Relative Rate

First Heritage Mortgage's average 30 year fixed mortgage rate was 4.91%.

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

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

First Heritage Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $9,012.

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) 1,756 $951,100,000 $541,629 $10,923 4.69%
RALEIGH-CARY, NC (FHA|USDA|VA) 343 $137,565,000 $401,064 $7,405 4.85%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 283 $131,665,000 $465,247 $7,420 4.66%
COLUMBIA, SC (FHA|USDA|VA) 398 $116,230,000 $292,035 $8,517 5.04%
RICHMOND, VA (FHA|USDA|VA) 326 $103,310,000 $316,902 $7,154 5.32%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 167 $69,025,000 $413,323 $9,308 4.77%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 145 $52,475,000 $361,897 $7,104 5.28%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 125 $34,155,000 $273,240 $9,758 4.89%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 68 $33,100,000 $486,765 $8,356 4.34%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 109 $29,065,000 $266,651 $5,220 5.03%
Outside of Metro Areas 80 $28,780,000 $359,750 $6,940 4.71%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 71 $23,065,000 $324,859 $7,310 5.05%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 59 $21,715,000 $368,051 $6,495 4.71%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 53 $20,475,000 $386,321 $10,712 5.40%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 57 $20,185,000 $354,123 $7,570 4.65%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 68 $16,720,000 $245,882 $6,527 4.72%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 48 $15,220,000 $317,083 $11,767 5.36%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 61 $12,075,000 $197,951 $5,823 5.20%
ROANOKE, VA (FHA|USDA|VA) 33 $11,285,000 $341,970 $6,664 5.06%
SPARTANBURG, SC (FHA|USDA|VA) 52 $11,280,000 $216,923 $7,232 4.86%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 22 $11,000,000 $500,000 $7,297 4.69%
STAUNTON, VA (FHA|USDA|VA) 28 $7,320,000 $261,429 $5,286 4.69%
WINCHESTER, VA-WV (FHA|USDA|VA) 18 $7,120,000 $395,556 $8,285 4.50%
WILMINGTON, NC (FHA|USDA|VA) 18 $7,110,000 $395,000 $5,679 4.83%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 23 $6,875,000 $298,913 $9,390 5.21%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 15 $6,595,000 $439,667 $6,826 4.71%
FAYETTEVILLE, NC (FHA|USDA|VA) 26 $6,300,000 $242,308 $7,173 5.29%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 23 $5,845,000 $254,130 $6,819 5.01%
PITTSBURGH, PA (FHA|USDA|VA) 20 $4,900,000 $245,000 $5,243 4.93%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $3,855,000 $428,333 $7,400 4.12%
SALISBURY, MD-DE (FHA|USDA|VA) 6 $3,760,000 $626,667 $9,305 4.04%
HARRISONBURG, VA (FHA|USDA|VA) 8 $2,910,000 $363,750 $8,581 5.16%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 9 $2,595,000 $288,333 $11,214 5.69%
Kill Devil Hills, NC (FHA|USDA|VA) 4 $2,570,000 $642,500 $6,404 4.30%
LYNCHBURG, VA (FHA|USDA|VA) 8 $2,400,000 $300,000 $4,534 3.53%
Morehead City, NC (FHA|USDA|VA) 4 $1,750,000 $437,500 $6,044 4.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $1,635,000 $327,000 $6,628 5.15%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,600,000 $400,000 $9,413 6.09%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,570,000 $785,000 $5,860 5.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,430,000 $357,500 $10,896 4.59%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $1,190,000 $297,500 $5,718 4.53%
Easton, MD (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $7,190 3.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $1,085,000 $361,667 $5,979 4.32%
WINSTON-SALEM, NC (FHA|USDA|VA) 4 $1,070,000 $267,500 $5,010 5.78%
YORK-HANOVER, PA (FHA|USDA|VA) 4 $1,050,000 $262,500 $7,085 4.55%
JACKSONVILLE, NC (FHA|USDA|VA) 4 $1,040,000 $260,000 $5,772 4.38%
BURLINGTON, NC (FHA|USDA|VA) 4 $1,030,000 $257,500 $5,920 5.17%
GETTYSBURG, PA (FHA|USDA|VA) 4 $970,000 $242,500 $7,340 5.28%
GOLDSBORO, NC (FHA|USDA|VA) 4 $950,000 $237,500 $4,483 5.36%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $940,000 $470,000 $9,353 3.81%
Danville, VA (FHA|USDA|VA) 4 $940,000 $235,000 $6,777 4.74%
OCALA, FL (FHA|USDA|VA) 4 $880,000 $220,000 $6,110 4.74%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $865,000 $865,000 $8,312 4.25%
Sanford, NC (FHA|USDA|VA) 3 $805,000 $268,333 $11,058 5.42%
Henderson, NC (FHA|USDA|VA) 2 $690,000 $345,000 $8,954 4.37%
Cullowhee, NC (FHA|USDA|VA) 2 $690,000 $345,000 $8,842 4.63%
ROCKY MOUNT, NC (FHA|USDA|VA) 3 $655,000 $218,333 $6,075 4.67%
Cambridge, MD (FHA|USDA|VA) 1 $645,000 $645,000 $23,114 3.50%
Newberry, SC (FHA|USDA|VA) 1 $615,000 $615,000 $8,117 3.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $615,000 $615,000 $15,759 2.88%
NEW BERN, NC (FHA|USDA|VA) 2 $520,000 $260,000 $7,563 4.50%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $505,000 $505,000 $6,733 5.50%
GAINESVILLE, GA (FHA|USDA|VA) 1 $505,000 $505,000 $6,341 5.98%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $495,000 $495,000 $18,406 4.99%
GAINESVILLE, FL (FHA|USDA|VA) 1 $485,000 $485,000 $7,693 6.88%
Martinsville, VA (FHA|USDA|VA) 1 $485,000 $485,000 $4,156 3.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $470,000 $235,000 $13,283 5.19%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $440,000 $220,000 $3,198 5.38%
Boone, NC (FHA|USDA|VA) 1 $425,000 $425,000 $5,930 4.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $425,000 $425,000 $17,953 4.88%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $425,000 $425,000 $4,060 4.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $420,000 $210,000 $4,248 4.94%
Jefferson, GA (FHA|USDA|VA) 1 $375,000 $375,000 $20,445 4.38%
Gaffney, SC (FHA|USDA|VA) 2 $350,000 $175,000 $5,174 4.75%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $345,000 $345,000 $7,067 5.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $14,333 5.50%
Georgetown, SC (FHA|USDA|VA) 2 $310,000 $155,000 $4,184 5.87%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $305,000 $305,000 $4,801 4.75%
Milledgeville, GA (FHA|USDA|VA) 1 $295,000 $295,000 $6,867 4.63%
HINESVILLE, GA (FHA|USDA|VA) 1 $265,000 $265,000 $14,178 6.63%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $265,000 $265,000 $7,311 5.38%
Wilson, NC (FHA|USDA|VA) 1 $255,000 $255,000 $7,651 5.25%
North Wilkesboro, NC (FHA|USDA|VA) 1 $235,000 $235,000 $5,239 5.25%
ASHEVILLE, NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,680 2.75%
Union, SC (FHA|USDA|VA) 1 $195,000 $195,000 $8,099 6.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $185,000 $185,000 $6,476 6.00%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $175,000 $175,000 $8,384 6.63%
Arcadia, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,149 5.00%
Lake City, FL (FHA|USDA|VA) 2 $150,000 $75,000 $3,902 5.63%
PANAMA CITY, FL (FHA|USDA|VA) 1 $115,000 $115,000 $6,690 5.50%
Pottsville, PA (FHA|USDA|VA) 1 $75,000 $75,000 $4,325 5.88%
First Heritage Mortgage's top markets include Washington, Raleigh, Charlottesville, Columbia, and Richmond among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

    CENTRAL VIRGINIA
    Similarity Rank: 222
    DUPONT COMMUNITY
    Similarity Rank: 231
    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 280
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 361
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 361
    HENRICO Federal Credit Union
    Similarity Rank: 420
    Piedmont Federal Savings Bank
    Similarity Rank: 544
    Cedar Point Federal Credit Union
    Similarity Rank: 546

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,485 $1,452,375,000 $416,750 $7,164 4.83%
    VA 625 $312,125,000 $499,400 $14,823 4.78%
    FHA 505 $181,455,000 $359,317 $13,489 5.10%
    USDA 37 $9,685,000 $261,757 $7,649 4.18%

    For 2022, First Heritage Mortgage's most frequently originated type of loan was Conventional, with 3,485 originations. Their 2nd most popular type was VA, with 625 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,419 $1,864,925,000 $422,024 $9,052 4.89%
    Cash Out Refi 138 $55,570,000 $402,681 $6,613 4.16%
    Refi 92 $34,390,000 $373,804 $4,851 3.77%
    Home Improvement 3 $755,000 $251,667 $4,174 5.46%

    For 2022, First Heritage Mortgage's most frequently cited loan purpose was Home Purchase, with 4,419 originations. The 2nd most popular reason was Cash Out Refi, with 138 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,467 $1,898,285,000 $424,957 $9,012 4.91%
    15 Year 139 $44,345,000 $319,029 $6,464 3.57%
    20 Year 31 $9,195,000 $296,613 $5,305 3.54%
    10 Year 9 $785,000 $87,222 $1,768 1.49%
    Other 4 $740,000 $185,000 $2,927 5.63%
    30+ year 2 $2,290,000 $1,145,000 $9,918 3.56%

    For 2022, First Heritage Mortgage's most frequently cited loan duration was 30 Year, with 4,467 originations. The 2nd most popular length was 15 Year, with 139 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,653 $644,205,000 $389,719
    $5k+ 1,404 $724,420,000 $515,969
    $2k-3k 599 $218,025,000 $363,982
    $3k-4k 496 $183,440,000 $369,839
    $4k-5k 426 $176,200,000 $413,615
    $<1k 70 $8,570,000 $122,429

    First Heritage Mortgage's average total fees were $9,012, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,653 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 1,336 $522,230,000 $390,891
    3-4% 1,227 $556,675,000 $453,688
    4-5% 1,129 $513,915,000 $455,195
    6-7% 613 $215,755,000 $351,966
    2.5-3% 176 $93,560,000 $531,591
    7-8% 142 $48,140,000 $339,014
    <2.5% 29 $5,365,000 $185,000

    During 2022, First Heritage Mortgage's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 5-6%, with 1,336 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,142 $645,120,000 $301,176 $7,547 5.04%
    $400k-600k 1,257 $615,945,000 $490,012 $10,002 4.79%
    $600k-1MM 653 $481,195,000 $736,899 $13,543 4.50%
    $100k-200k 410 $66,000,000 $160,976 $5,028 4.93%
    $1MM+ 111 $144,345,000 $1,300,405 $15,727 4.02%
    $100,000 or less 79 $3,035,000 $38,418 $1,836 4.26%

    2022 saw First Heritage Mortgage place emphasis on $200k-400k loans with 2,142 originations, totaling $645,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,291 $519,545,000 $402,436 $9,140 4.94%
    $150k-250k 1,211 $616,215,000 $508,848 $9,751 4.81%
    $75k-100k 730 $236,870,000 $324,479 $8,375 4.99%
    $50k-75k 680 $175,370,000 $257,897 $7,413 4.74%
    $250k+ 568 $377,260,000 $664,190 $10,031 4.71%
    $50k or less 168 $29,260,000 $174,167 $5,478 4.71%

    First Heritage Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,291 originations. The second most popular income band? $150k-250k, with 1,211 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 838 $350,010,000 $417,673 $8,058 4.82%
    20-30% 832 $349,460,000 $420,024 $7,875 4.66%
    50-60% 333 $143,425,000 $430,706 $14,732 5.00%
    <20% 264 $96,680,000 $366,212 $6,565 4.40%
    42% 207 $100,235,000 $484,227 $9,146 4.95%
    41% 205 $84,765,000 $413,488 $8,809 4.88%
    44% 199 $84,355,000 $423,894 $9,422 4.84%
    39% 196 $91,460,000 $466,633 $9,306 4.88%
    37% 193 $84,195,000 $436,244 $7,962 4.73%
    43% 183 $74,405,000 $406,585 $8,853 4.94%
    40% 182 $82,010,000 $450,604 $8,836 4.91%
    36% 170 $68,220,000 $401,294 $7,252 4.99%
    49% 160 $59,250,000 $370,313 $9,344 5.40%
    38% 147 $62,395,000 $424,456 $7,769 4.87%
    45% 146 $59,650,000 $408,562 $9,558 5.02%
    48% 134 $54,490,000 $406,642 $8,931 5.24%
    47% 119 $49,815,000 $418,613 $10,110 4.90%
    46% 113 $43,575,000 $385,619 $9,997 5.04%
    >60% 29 $16,435,000 $566,724 $14,950 5.10%

    First Heritage Mortgage lent most frequently to those with DTI ratios of 30-36%, with 838 originations. The next most common DTI ratio? 20-30%, with 832 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,063 $844,715,000 $409,460 $8,137 4.77%
    Not provided 1,316 $588,140,000 $446,915 $9,536 4.81%
    Black 694 $278,600,000 $401,441 $10,397 5.05%
    Asian 471 $199,155,000 $422,834 $8,347 4.94%
    Asian Indian 75 $31,345,000 $417,933 $7,792 5.36%
    American Indian 15 $5,815,000 $387,667 $10,971 5.08%
    Other Asian 7 $3,965,000 $566,429 $11,654 4.55%
    Filipino 5 $1,635,000 $327,000 $6,900 5.25%
    Korean 4 $1,470,000 $367,500 $9,789 5.17%
    Guamanian 1 $595,000 $595,000 $21,072 5.25%
    Chinese 1 $205,000 $205,000 $4,091 6.63%

    Approval Rates

    Total approvals of all applications
    99.02%

    First Heritage Mortgage 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
    66.04%

    First Heritage Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,652 $1,955,640,000 $420,387

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,652 $1,955,640,000 $420,387

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $23,870,000 $217,000 $4,543 4.77%
    40-60% 280 $94,370,000 $337,036 $6,055 4.69%
    60-80% 1,259 $546,005,000 $433,681 $7,330 4.77%
    80-100% 2,719 $1,186,665,000 $436,434 $9,349 4.95%
    Over 100% 202 $96,360,000 $477,030 $21,551 4.61%
    Under 20% 65 $2,725,000 $41,923 $1,397 3.99%

    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%