First Heritage Mortgage Rates, Fees & Info

RESTON, VA

LEI: 549300EM8ID8J7F8OM55

Tax ID: 54-1822464

4.1 stars - out of 5 stars, based on 94 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Heritage Mortgage is a mid-sized mortgage company specializing in Home Purchase and Refi 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 include Washington, Charlottesville, Raleigh, Richmond, and Baltimore among others. First Heritage Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Heritage Mortgage is typically a high fee lendor.


Originations

8,915

Origination Dollar Volume (All Markets)

$3,482,095,000
Show all (5) awards

Relative Rate

First Heritage Mortgage 's average 30 year fixed rate mortgage of loans were 2.99%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.16%.

Relative Fees

First Heritage Mortgage 's average total fees for a 30 year fixed rate mortgage are $6,089.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4,505 $2,045,125,000 $453,968 $6,720 2.92%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 663 $264,755,000 $399,329 $5,036 2.94%
RALEIGH-CARY, NC (FHA|USDA|VA) 615 $203,745,000 $331,293 $4,158 2.96%
RICHMOND, VA (FHA|USDA|VA) 413 $124,605,000 $301,707 $4,620 3.06%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 308 $120,230,000 $390,357 $6,309 3.04%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 275 $95,985,000 $349,036 $4,127 2.94%
Outside of Metro Areas 233 $72,725,000 $312,124 $5,406 2.97%
COLUMBIA, SC (FHA|USDA|VA) 262 $64,150,000 $244,847 $5,508 2.87%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 161 $51,485,000 $319,783 $4,198 2.94%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 192 $47,670,000 $248,281 $4,104 3.00%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 121 $43,215,000 $357,149 $7,039 2.87%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 116 $41,860,000 $360,862 $5,235 2.94%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 114 $40,560,000 $355,789 $6,014 2.91%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 100 $29,860,000 $298,600 $4,812 3.04%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 111 $23,245,000 $209,414 $5,015 2.97%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 95 $22,545,000 $237,316 $6,726 2.97%
SPARTANBURG, SC (FHA|USDA|VA) 96 $20,410,000 $212,604 $5,348 3.05%
WINCHESTER, VA-WV (FHA|USDA|VA) 43 $14,835,000 $345,000 $5,335 3.09%
ROANOKE, VA (FHA|USDA|VA) 38 $11,240,000 $295,789 $4,495 2.95%
SALISBURY, MD-DE (FHA|USDA|VA) 34 $11,040,000 $324,706 $4,355 2.95%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 30 $9,690,000 $323,000 $4,510 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 18 $7,880,000 $437,778 $5,270 3.05%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 18 $6,990,000 $388,333 $4,468 2.93%
WILMINGTON, NC (FHA|USDA|VA) 20 $6,570,000 $328,500 $4,785 3.05%
STAUNTON, VA (FHA|USDA|VA) 24 $5,840,000 $243,333 $4,493 2.89%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 18 $5,360,000 $297,778 $7,014 3.06%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 11 $5,225,000 $475,000 $10,366 3.18%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 26 $4,870,000 $187,308 $5,003 3.27%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 12 $4,480,000 $373,333 $5,209 3.02%
Kill Devil Hills, NC (FHA|USDA|VA) 10 $4,320,000 $432,000 $5,564 3.02%
FAYETTEVILLE, NC (FHA|USDA|VA) 18 $4,240,000 $235,556 $5,996 3.03%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $3,970,000 $1,985,000 $9,525 3.38%
JACKSONVILLE, NC (FHA|USDA|VA) 9 $3,445,000 $382,778 $5,950 3.18%
Morehead City, NC (FHA|USDA|VA) 10 $3,310,000 $331,000 $3,504 3.06%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 17 $2,905,000 $170,882 $3,767 3.04%
BURLINGTON, NC (FHA|USDA|VA) 9 $2,505,000 $278,333 $5,252 3.11%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $2,465,000 $2,465,000 $7,304 3.13%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $2,360,000 $295,000 $5,531 2.83%
LYNCHBURG, VA (FHA|USDA|VA) 9 $2,225,000 $247,222 $4,787 3.18%
Boone, NC (FHA|USDA|VA) 6 $1,980,000 $330,000 $5,221 3.46%
YORK-HANOVER, PA (FHA|USDA|VA) 7 $1,895,000 $270,714 $6,197 3.12%
GAINESVILLE, GA (FHA|USDA|VA) 7 $1,885,000 $269,286 $3,803 3.19%
WINSTON-SALEM, NC (FHA|USDA|VA) 5 $1,855,000 $371,000 $4,553 3.22%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,705,000 $568,333 $5,612 2.83%
NEW BERN, NC (FHA|USDA|VA) 5 $1,645,000 $329,000 $2,676 2.87%
ASHEVILLE, NC (FHA|USDA|VA) 5 $1,535,000 $307,000 $4,401 2.83%
Union, SC (FHA|USDA|VA) 1 $1,515,000 $1,515,000 $4,607 2.50%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,495,000 $498,333 $9,221 2.54%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,485,000 $495,000 $4,057 2.83%
HARRISONBURG, VA (FHA|USDA|VA) 6 $1,410,000 $235,000 $4,144 3.10%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $1,340,000 $670,000 $4,234 2.75%
GETTYSBURG, PA (FHA|USDA|VA) 6 $1,300,000 $216,667 $4,599 3.02%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,235,000 $411,667 $4,423 2.91%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 4 $1,210,000 $302,500 $8,564 2.81%
VALDOSTA, GA (FHA|USDA|VA) 5 $1,195,000 $239,000 $6,157 2.78%
Sanford, NC (FHA|USDA|VA) 6 $1,180,000 $196,667 $6,465 3.14%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,291 2.67%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $1,045,000 $348,333 $4,493 3.13%
ROCKY MOUNT, NC (FHA|USDA|VA) 4 $940,000 $235,000 $5,422 2.84%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $745,000 $248,333 $5,115 2.94%
Henderson, NC (FHA|USDA|VA) 2 $730,000 $365,000 $6,688 2.75%
Easton, MD (FHA|USDA|VA) 1 $705,000 $705,000 $5,286 3.00%
PANAMA CITY, FL (FHA|USDA|VA) 2 $650,000 $325,000 $3,303 2.69%
Roanoke Rapids, NC (FHA|USDA|VA) 2 $630,000 $315,000 $3,546 3.25%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $610,000 $305,000 $16,313 3.19%
Danville, VA (FHA|USDA|VA) 4 $590,000 $147,500 $4,445 2.75%
Wilson, NC (FHA|USDA|VA) 2 $570,000 $285,000 $4,188 2.81%
Key West, FL (FHA|USDA|VA) 1 $555,000 $555,000 $5,525 3.25%
Georgetown, SC (FHA|USDA|VA) 3 $555,000 $185,000 $3,537 2.25%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $545,000 $545,000 $10,763 3.13%
MORGANTOWN, WV (FHA|USDA|VA) 2 $520,000 $260,000 $3,808 2.56%
PITTSBURGH, PA (FHA|USDA|VA) 2 $500,000 $250,000 $3,734 2.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $475,000 $158,333 $4,049 2.96%
GOLDSBORO, NC (FHA|USDA|VA) 3 $455,000 $151,667 $4,938 3.16%
Bluefield, WV-VA (FHA|USDA|VA) 2 $450,000 $225,000 $2,844 2.81%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $425,000 $141,667 $4,103 3.24%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,850 3.13%
BRUNSWICK, GA (FHA|USDA|VA) 1 $375,000 $375,000 $4,070 2.88%
Calhoun, GA (FHA|USDA|VA) 1 $355,000 $355,000 $3,624 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $335,000 $335,000 $5,632 3.00%
SUMTER, SC (FHA|USDA|VA) 1 $315,000 $315,000 $5,845 2.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $300,000 $150,000 $3,847 3.19%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $285,000 $285,000 $2,858 3.25%
Jefferson, GA (FHA|USDA|VA) 1 $285,000 $285,000 $3,118 3.13%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $275,000 $275,000 $3,538 3.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,045 2.98%
SAVANNAH, GA (FHA|USDA|VA) 1 $225,000 $225,000 $3,521 3.13%
HINESVILLE, GA (FHA|USDA|VA) 1 $225,000 $225,000 $8,823 3.25%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,854 3.38%
Indiana, PA (FHA|USDA|VA) 1 $195,000 $195,000 $5,630 3.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $185,000 $185,000 $4,105 2.98%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $165,000 $165,000 $6,854 2.75%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $165,000 $165,000 $6,517 3.17%
Elizabeth City, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,673 2.75%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $155,000 $155,000 $2,968 3.25%
Statesboro, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,533 3.13%
Cambridge, MD (FHA|USDA|VA) 1 $135,000 $135,000 $5,259 2.88%
Huntingdon, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,937 2.63%
Newberry, SC (FHA|USDA|VA) 1 $85,000 $85,000 $2,884 3.13%
Douglas, GA (FHA|USDA|VA) 1 $85,000 $85,000 $3,182 3.63%

First Heritage Mortgage 's top markets include Washington, Charlottesville, Raleigh, Richmond, and Baltimore among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 6,986 $2,688,140,000 $384,790 $4,741 2.98%
VA 1,017 $491,255,000 $483,043 $9,865 2.69%
FHA 763 $263,025,000 $344,725 $10,666 2.99%
USDA 149 $39,675,000 $266,275 $6,829 2.77%

For the 2021 period, First Heritage Mortgage 's most frequently originated loan type of loans were Conventional, with 6,986 originations. Their 2nd most popular type is VA, with 1,017 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 6,338 $2,518,630,000 $397,386 $6,555 2.98%
Refi 1,896 $705,950,000 $372,336 $4,034 2.78%
Cash Out Refi 672 $255,120,000 $379,643 $4,826 3.06%
Home Improvement 9 $2,395,000 $266,111 $4,761 3.29%

For the 2021, First Heritage Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 6,338 originations. The 2nd most popular reason of loans were Refi, with 1,896 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 8,112 $3,227,870,000 $397,913 $6,089 2.99%
15 Year 597 $187,325,000 $313,777 $3,782 2.48%
20 Year 140 $46,430,000 $331,643 $3,567 2.70%
10 Year 34 $6,340,000 $186,471 $2,393 1.55%
Other 20 $7,230,000 $361,500 $3,922 2.88%
30+ year 11 $6,475,000 $588,636 $6,615 2.85%
1 Year 1 $425,000 $425,000 $0 5.99%

For the 2021, First Heritage Mortgage 's most frequently cited loan length of loans were 30 Year, with 8,112 originations. The 2nd most popular length of loans were 15 Year, with 597 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 6,224 $2,350,530,000 $377,656
$2k-3k 789 $298,955,000 $378,904
$3k-4k 760 $330,670,000 $435,092
$5k+ 593 $370,065,000 $624,056
$<1k 540 $130,070,000 $240,870

$6,089 of loans were First Heritage Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 6,224 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 4,460 $1,835,280,000 $411,498
3-4% 3,200 $1,160,240,000 $362,575
<2.5% 1,224 $476,940,000 $389,657
4-5% 25 $7,255,000 $290,200
5-6% 6 $2,380,000 $396,667

During 2021, First Heritage Mortgage 's average interest rate of loans were 2.99%, while their most frequently originated rate bucket of loans were 2.5-3%, with 4,460 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 4,234 $1,269,420,000 $299,816 $5,135 2.96%
$400k-600k 2,441 $1,181,425,000 $483,992 $6,601 2.91%
$100k-200k 932 $151,230,000 $162,264 $3,900 3.03%
$600k-1MM 931 $674,705,000 $724,710 $9,614 2.93%
$100,000 or less 225 $8,565,000 $38,067 $1,422 2.92%
$1MM+ 152 $196,750,000 $1,294,408 $11,678 2.86%

2021 saw First Heritage Mortgage place emphasis on $200k-400k loans with 4,234 originations, totaling $1,269,420,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 2,317 $916,625,000 $395,609 $6,099 2.98%
$150k-250k 2,005 $949,545,000 $473,589 $6,169 2.95%
$75k-100k 1,551 $509,885,000 $328,746 $5,840 2.95%
$50k-75k 1,410 $365,040,000 $258,894 $5,357 2.96%
$250k+ 846 $528,990,000 $625,284 $6,825 2.94%
$50k or less 517 $96,065,000 $185,812 $4,442 2.95%

First Heritage Mortgage lent most frequently to those with incomes in the $100k-150k range, with 2,317 originations. The second most popular income band? $150k-250k, with 2,005 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,957 $750,375,000 $383,431 $5,063 2.92%
30-36% 1,735 $676,815,000 $390,095 $5,687 2.98%
<20% 730 $257,470,000 $352,699 $4,328 2.87%
43% 361 $134,595,000 $372,839 $6,082 3.04%
44% 350 $133,910,000 $382,600 $6,898 3.00%
42% 339 $135,495,000 $399,690 $6,195 3.00%
41% 338 $136,400,000 $403,550 $6,280 3.02%
38% 323 $129,195,000 $399,985 $5,729 2.98%
37% 317 $123,015,000 $388,060 $5,704 3.00%
40% 313 $132,665,000 $423,850 $6,344 3.00%
50-60% 312 $130,340,000 $417,756 $11,104 2.91%
39% 310 $121,770,000 $392,806 $6,020 2.98%
36% 292 $115,370,000 $395,103 $5,850 3.02%
49% 221 $85,275,000 $385,860 $6,396 2.95%
46% 211 $90,995,000 $431,256 $6,928 2.93%
45% 199 $78,645,000 $395,201 $6,358 2.94%
48% 195 $74,885,000 $384,026 $7,004 2.99%
47% 164 $65,090,000 $396,890 $6,650 2.98%
>60% 24 $10,900,000 $454,167 $10,952 2.98%

First Heritage Mortgage lent most frequently to those with DTI ratios of 20-30%, with 1,957 originations. The next most common DTI ratio? 30-36%, with 1,735 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,644 $1,752,310,000 $377,328 $5,326 2.94%
Not provided 2,395 $981,155,000 $409,668 $6,062 2.95%
Black 1,200 $470,460,000 $392,050 $7,440 2.98%
Asian 565 $229,825,000 $406,770 $6,200 2.92%
Asian Indian 60 $29,420,000 $490,333 $6,722 2.99%
American Indian 26 $9,450,000 $363,462 $6,251 3.01%
Native Hawaiian 12 $4,660,000 $388,333 $5,570 2.77%
Other Asian 7 $3,015,000 $430,714 $7,419 2.80%
Vietnamese 2 $620,000 $310,000 $6,059 2.69%
Filipino 2 $590,000 $295,000 $9,091 2.94%
Korean 1 $465,000 $465,000 $3,302 2.75%
Japanese 1 $125,000 $125,000 $3,474 3.25%

Approval Rates

Total approvals of all applications
99.16%

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
76.10%

First Heritage Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 8,915 $3,482,095,000 $390,588

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
8,915 $3,482,095,000 $390,588

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 237 $50,225,000 $211,920 $3,544 2.81%
40-60% 790 $259,920,000 $329,013 $3,826 2.80%
60-80% 2,638 $1,084,450,000 $411,088 $4,716 3.00%
80-100% 4,514 $1,833,770,000 $406,241 $6,613 2.99%
Over 100% 274 $127,320,000 $464,672 $17,897 2.80%
Under 20% 164 $4,610,000 $28,110 $661 2.78%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST MORTGAGE COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
FIRST MORTGAGE COMPANY Conventional home mortgage Trouble during payment process 5 83.3%