First Heritage Mortgage Rates, Fees & Info

RESTON, VA

LEI: 549300EM8ID8J7F8OM55

Tax ID: 54-1822464

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 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, Charlottesville, Richmond, Raleigh, and Baltimore among others. We have data for 43 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 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.

    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% 12/16/24
    30 Year Conventional Refi 6.50% 12/16/24
    30 Year Cash-out Refi 6.80% 12/16/24
    30 Year FHA Purchase 7.36% 12/16/24
    30 Year FHA Refi 7.50% 12/16/24
    30 Year VA Purchase 6.22% 12/16/24
    30 Year VA Refi 5.98% 12/16/24
    30 Year USDA Purchase 6.67% 12/16/24
    15 Year Conventional Purchase 6.05% 12/16/24
    15 Year Conventional Refi 6.10% 12/16/24
    15 Year Cash-out Refi 6.10% 12/16/24
    15 Year VA Purchase 6.27% 12/16/24
    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

    3,637

    Origination Dollar Volume (All Markets)

    $1,333,035,000
    Show all (10) 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) 2,331 $917,815,000 $393,743 $7,713 4.56%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 438 $163,220,000 $372,648 $5,284 4.34%
    RICHMOND, VA (FHA|USDA|VA) 264 $72,450,000 $274,432 $4,933 4.53%
    RALEIGH-CARY, NC (FHA|USDA|VA) 139 $45,205,000 $325,216 $4,575 4.32%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 73 $26,185,000 $358,699 $6,589 4.86%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 74 $22,820,000 $308,378 $6,604 4.56%
    Outside of Metro Areas 92 $22,220,000 $241,522 $4,726 4.62%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 44 $9,470,000 $215,227 $4,233 4.54%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 27 $8,175,000 $302,778 $4,365 4.50%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 20 $6,960,000 $348,000 $4,551 4.73%
    SALISBURY, MD-DE (FHA|USDA|VA) 21 $6,665,000 $317,381 $4,808 4.62%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 14 $6,090,000 $435,000 $6,527 4.50%
    WINCHESTER, VA-WV (FHA|USDA|VA) 14 $4,480,000 $320,000 $6,736 4.65%
    STAUNTON, VA (FHA|USDA|VA) 18 $3,840,000 $213,333 $4,264 4.62%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 8 $2,410,000 $301,250 $5,508 4.77%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 5 $1,415,000 $283,000 $5,358 4.70%
    LYNCHBURG, VA (FHA|USDA|VA) 7 $1,215,000 $173,571 $3,014 4.54%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $1,190,000 $297,500 $7,901 4.56%
    ROANOKE, VA (FHA|USDA|VA) 6 $1,180,000 $196,667 $3,474 4.58%
    HARRISONBURG, VA (FHA|USDA|VA) 4 $1,040,000 $260,000 $4,576 4.22%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $805,000 $268,333 $3,115 4.42%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $655,000 $655,000 $6,866 4.00%
    Morehead City, NC (FHA|USDA|VA) 1 $645,000 $645,000 $4,411 4.63%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $630,000 $315,000 $3,818 4.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $615,000 $615,000 $6,546 4.25%
    FAYETTEVILLE, NC (FHA|USDA|VA) 3 $585,000 $195,000 $7,186 4.79%
    WILMINGTON, NC (FHA|USDA|VA) 3 $575,000 $191,667 $4,541 4.17%
    Roanoke Rapids, NC (FHA|USDA|VA) 1 $545,000 $545,000 $3,629 4.88%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $530,000 $265,000 $4,528 4.69%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $490,000 $245,000 $7,875 4.31%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $485,000 $161,667 $4,078 4.58%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $415,000 $415,000 $11,317 4.88%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $285,000 $285,000 $10,861 4.50%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,065 4.63%
    DOVER, DE (FHA|USDA|VA) 1 $235,000 $235,000 $8,505 4.13%
    BURLINGTON, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,311 4.63%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,246 4.88%
    Cambridge, MD (FHA|USDA|VA) 1 $185,000 $185,000 $4,277 4.50%
    COLUMBIA, SC (FHA|USDA|VA) 1 $165,000 $165,000 $6,282 4.11%
    Henderson, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,716 4.50%
    ERIE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $4,598 4.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,963 5.13%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $85,000 $85,000 $3,766 5.25%
    First Heritage Mortgage's top markets include Washington, Charlottesville, Richmond, Raleigh, and Baltimore among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • District of Columbia (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.

    ABNB Federal Credit Union
    Similarity Rank: 40
    DUPONT COMMUNITY
    Similarity Rank: 77
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 108
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 123
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 147
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 264
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 285
    Hebron Savings Bank
    Similarity Rank: 305
    F & M BANK CORP.
    Similarity Rank: 312
    Bank of Clarke County
    Similarity Rank: 340

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,744 $983,090,000 $358,269 $5,503 4.51%
    VA 462 $210,780,000 $456,234 $11,451 4.51%
    FHA 392 $129,950,000 $331,505 $10,457 4.69%
    USDA 39 $9,215,000 $236,282 $6,437 4.59%

    For 2018, First Heritage Mortgage's most frequently originated type of loan was Conventional, with 2,744 originations. Their 2nd most popular type was VA, with 462 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,374 $1,231,220,000 $364,914 $6,914 4.55%
    Refi 174 $66,890,000 $384,425 $5,100 4.29%
    Cash Out Refi 76 $27,080,000 $356,316 $5,481 4.21%
    Home Improvement 13 $7,845,000 $603,462 $8,065 4.24%

    For 2018, First Heritage Mortgage's most frequently cited loan purpose was Home Purchase, with 3,374 originations. The 2nd most popular reason was Refi, with 174 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,492 $1,291,920,000 $369,966 $6,891 4.55%
    15 Year 117 $33,835,000 $289,188 $4,744 3.93%
    20 Year 20 $5,230,000 $261,500 $3,474 4.45%
    Other 4 $980,000 $245,000 $5,508 4.43%
    10 Year 2 $180,000 $90,000 $3,078 4.50%
    30+ year 2 $890,000 $445,000 $10,176 4.25%

    For 2018, First Heritage Mortgage's most frequently cited loan duration was 30 Year, with 3,492 originations. The 2nd most popular length was 15 Year, with 117 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,712 $601,430,000 $351,303
    $<1k 488 $131,520,000 $269,508
    $5k+ 475 $243,625,000 $512,895
    $2k-3k 465 $156,105,000 $335,710
    $3k-4k 323 $128,955,000 $399,241
    $4k-5k 173 $70,965,000 $410,202

    First Heritage Mortgage's average total fees were $6,891, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,712 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,406 $867,640,000 $360,615
    3-4% 730 $308,620,000 $422,767
    5-6% 480 $151,070,000 $314,729
    6-7% 12 $3,010,000 $250,833
    2.5-3% 9 $2,695,000 $299,444

    During 2018, First Heritage Mortgage's average interest rate for loans was 4.55%, while their most frequently originated rate bucket for loans was 4-5%, with 2,406 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,849 $563,745,000 $304,892 $6,045 4.56%
    $400k-600k 1,005 $481,545,000 $479,149 $8,391 4.45%
    $100k-200k 390 $61,830,000 $158,538 $4,047 4.63%
    $600k-1MM 261 $182,395,000 $698,831 $11,670 4.34%
    $100,000 or less 101 $3,935,000 $38,960 $1,444 4.91%
    $1MM+ 31 $39,585,000 $1,276,935 $11,521 4.00%

    2018 saw First Heritage Mortgage place emphasis on $200k-400k loans with 1,849 originations, totaling $563,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,046 $388,430,000 $371,348 $7,210 4.56%
    $150k-250k 778 $360,590,000 $463,483 $7,572 4.41%
    $75k-100k 688 $214,960,000 $312,442 $6,568 4.62%
    $50k-75k 632 $159,850,000 $252,927 $5,671 4.61%
    $250k+ 290 $172,870,000 $596,103 $7,940 4.27%
    $50k or less 193 $33,585,000 $174,016 $4,453 4.68%

    First Heritage Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,046 originations. The second most popular income band? $150k-250k, with 778 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 631 $235,025,000 $372,464 $6,309 4.52%
    20-30% 618 $223,790,000 $362,120 $5,782 4.39%
    50-60% 238 $96,100,000 $403,782 $11,196 4.64%
    44% 195 $63,995,000 $328,179 $7,214 4.72%
    43% 174 $63,450,000 $364,655 $6,924 4.61%
    <20% 165 $54,065,000 $327,667 $5,378 4.21%
    41% 160 $57,440,000 $359,000 $6,265 4.53%
    40% 160 $58,570,000 $366,063 $6,319 4.63%
    49% 156 $54,450,000 $349,038 $7,419 4.60%
    42% 137 $50,335,000 $367,409 $6,396 4.56%
    48% 135 $50,035,000 $370,630 $7,206 4.56%
    39% 130 $48,980,000 $376,769 $6,489 4.54%
    38% 130 $47,890,000 $368,385 $7,074 4.56%
    47% 116 $42,180,000 $363,621 $7,113 4.62%
    45% 115 $42,665,000 $371,000 $6,652 4.57%
    46% 113 $40,315,000 $356,770 $6,047 4.61%
    36% 113 $44,965,000 $397,920 $7,135 4.49%
    37% 110 $42,900,000 $390,000 $7,125 4.48%
    >60% 35 $13,955,000 $398,714 $9,729 4.61%

    First Heritage Mortgage lent most frequently to those with DTI ratios of 30-36%, with 631 originations. The next most common DTI ratio? 20-30%, with 618 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,049 $739,985,000 $361,144 $6,352 4.47%
    Not provided 698 $268,160,000 $384,183 $7,303 4.55%
    Black 531 $191,615,000 $360,857 $8,091 4.80%
    Asian 318 $116,870,000 $367,516 $6,465 4.39%
    Asian Indian 13 $6,235,000 $479,615 $6,167 4.52%
    American Indian 13 $4,985,000 $383,462 $5,381 4.67%
    Native Hawaiian or Islander 9 $3,325,000 $369,444 $10,847 4.58%
    Other Asian 5 $1,615,000 $323,000 $4,129 4.48%
    Chinese 1 $245,000 $245,000 $3,723 3.63%

    Approval Rates

    Total approvals of all applications
    98.23%

    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
    72.94%

    First Heritage Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,637 $1,333,035,000 $366,520

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $715,000 $143,000
    Single Family (1-4 Units):Site-Built 3,632 $1,332,320,000 $366,828

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 80 $15,950,000 $199,375 $3,841 4.08%
    40-60% 220 $65,250,000 $296,591 $4,714 4.12%
    60-80% 887 $349,535,000 $394,064 $5,395 4.33%
    80-100% 2,213 $827,415,000 $373,888 $7,133 4.64%
    Over 100% 167 $73,365,000 $439,311 $16,622 4.61%
    Under 20% 70 $1,520,000 $21,714 $628 4.89%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Colony Mortgage Corp. FHA mortgage Closing on a mortgage 1 100.0%