First Heritage Mortgage Rates, Fees & Info
RESTON, VALEI: 549300EM8ID8J7F8OM55
Tax ID: 54-1822464
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Mortgage Data
Review & 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 by origination volume include: Washington, Charlottesville, Raleigh, Richmond, and Baltimore among others. We have data for 88 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 4/21/24 |
| 30 Year Conventional Refi | 6.50% | 4/21/24 |
| 30 Year Cash-out Refi | 6.80% | 4/21/24 |
| 30 Year FHA Purchase | 7.36% | 4/21/24 |
| 30 Year FHA Refi | 7.50% | 4/21/24 |
| 30 Year VA Purchase | 6.22% | 4/21/24 |
| 30 Year VA Refi | 5.98% | 4/21/24 |
| 30 Year USDA Purchase | 6.67% | 4/21/24 |
| 15 Year Conventional Purchase | 6.05% | 4/21/24 |
| 15 Year Conventional Refi | 6.10% | 4/21/24 |
| 15 Year Cash-out Refi | 6.10% | 4/21/24 |
| 15 Year VA Purchase | 6.27% | 4/21/24 |
| 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 Heritage Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
10,158Origination Dollar Volume (All Markets)
$3,738,710,000Awards
First Heritage Mortgage - 2020
First Heritage Mortgage is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 5,796 | $2,385,300,000 | $411,542 | $6,202 | 3.06% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 787 | $293,455,000 | $372,878 | $4,270 | 3.09% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 778 | $234,410,000 | $301,298 | $3,662 | 3.11% |
| RICHMOND, VA (FHA|USDA|VA) | 445 | $120,715,000 | $271,270 | $4,591 | 3.12% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 307 | $110,155,000 | $358,811 | $5,560 | 3.09% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 304 | $102,730,000 | $337,928 | $4,218 | 3.04% |
| Outside of Metro Areas | 232 | $62,110,000 | $267,716 | $4,680 | 3.10% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 172 | $54,530,000 | $317,035 | $4,069 | 3.03% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 134 | $49,460,000 | $369,104 | $4,602 | 3.01% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 123 | $41,385,000 | $336,463 | $5,699 | 3.00% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 185 | $41,335,000 | $223,432 | $3,725 | 3.24% |
| COLUMBIA, SC (FHA|USDA|VA) | 154 | $39,390,000 | $255,779 | $5,063 | 2.84% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 103 | $31,275,000 | $303,641 | $4,557 | 2.90% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 78 | $22,980,000 | $294,615 | $4,775 | 2.92% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 53 | $16,455,000 | $310,472 | $4,509 | 2.95% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 48 | $15,690,000 | $326,875 | $6,319 | 3.13% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 36 | $8,240,000 | $228,889 | $5,274 | 2.92% |
| STAUNTON, VA (FHA|USDA|VA) | 28 | $6,650,000 | $237,500 | $3,454 | 3.06% |
| SPARTANBURG, SC (FHA|USDA|VA) | 28 | $6,150,000 | $219,643 | $4,559 | 3.04% |
| WILMINGTON, NC (FHA|USDA|VA) | 18 | $5,650,000 | $313,889 | $4,094 | 3.08% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 28 | $5,420,000 | $193,571 | $4,271 | 3.02% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 16 | $5,220,000 | $326,250 | $4,595 | 2.99% |
| LYNCHBURG, VA (FHA|USDA|VA) | 21 | $5,165,000 | $245,952 | $4,432 | 3.00% |
| ROANOKE, VA (FHA|USDA|VA) | 19 | $4,955,000 | $260,789 | $3,865 | 3.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 18 | $4,840,000 | $268,889 | $3,448 | 2.99% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 16 | $4,700,000 | $293,750 | $5,539 | 3.11% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 21 | $4,585,000 | $218,333 | $4,471 | 3.31% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 13 | $3,635,000 | $279,615 | $3,489 | 3.03% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 17 | $3,435,000 | $202,059 | $3,416 | 3.20% |
| BURLINGTON, NC (FHA|USDA|VA) | 14 | $2,810,000 | $200,714 | $3,995 | 3.05% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 9 | $2,745,000 | $305,000 | $4,148 | 3.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $2,690,000 | $336,250 | $4,705 | 2.93% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 7 | $2,605,000 | $372,143 | $4,600 | 3.02% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 5 | $2,605,000 | $521,000 | $6,409 | 3.55% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 4 | $1,980,000 | $495,000 | $5,113 | 3.19% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 8 | $1,890,000 | $236,250 | $5,987 | 2.98% |
| Morehead City, NC (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $3,085 | 3.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,360,000 | $340,000 | $5,862 | 2.97% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $4,042 | 3.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,280,000 | $213,333 | $3,107 | 2.85% |
| HARRISONBURG, VA (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $3,115 | 2.81% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $4,749 | 3.28% |
| GAINESVILLE, GA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $3,255 | 3.17% |
| NEW BERN, NC (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $2,776 | 3.38% |
| DOVER, DE (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $7,896 | 2.97% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $5,455 | 2.97% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 7 | $1,075,000 | $153,571 | $3,959 | 3.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $4,793 | 2.81% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $4,443 | 2.71% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $3,821 | 3.04% |
| GETTYSBURG, PA (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $6,712 | 3.38% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $2,974 | 3.06% |
| Sanford, NC (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $5,501 | 3.18% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $3,827 | 3.13% |
| BRUNSWICK, GA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,009 | 3.06% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,703 | 3.31% |
| Wilson, NC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $8,151 | 3.17% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $4,418 | 3.56% |
| Easton, MD (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $3,254 | 3.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $3,509 | 3.22% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,807 | 3.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $6,695 | 3.06% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,497 | 3.63% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $4,296 | 2.58% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,131 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,718 | 3.00% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,686 | 2.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,443 | 2.50% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,249 | 3.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,425 | 3.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,714 | 2.75% |
| Seneca, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,263 | 3.00% |
| Washington, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,882 | 2.63% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,118 | 2.88% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,183 | 3.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,389 | 2.50% |
| Forest City, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,255 | 2.75% |
| Brevard, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,205 | 3.88% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,849 | 2.88% |
| Indiana, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,103 | 2.50% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,259 | 3.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,678 | 2.63% |
| Henderson, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,162 | 3.88% |
| Danville, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,907 | 3.63% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,203 | 4.00% |
| ERIE, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,966 | 2.75% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,883 | 3.25% |
| Marion, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,865 | 4.99% |
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Product Mix
For 2020, First Heritage Mortgage's most frequently originated type of loan was Conventional, with 7,977 originations. Their 2nd most popular type was VA, with 1,305 originations.
Loan Reason
For 2020, First Heritage Mortgage's most frequently cited loan purpose was Home Purchase, with 5,775 originations. The 2nd most popular reason was Refi, with 3,709 originations.
Loan Duration/Length
For 2020, First Heritage Mortgage's most frequently cited loan duration was 30 Year, with 9,188 originations. The 2nd most popular length was 15 Year, with 702 originations.
Origination Fees/Closing Costs
First Heritage Mortgage's average total fees were $5,646, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 6,558 originations.
Interest Rates
During 2020, First Heritage Mortgage's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 4,902 originations.
Loan Sizing
2020 saw First Heritage Mortgage place emphasis on $200k-400k loans with 5,212 originations, totaling $1,573,540,000 in origination value.
Applicant Income
First Heritage Mortgage lent most frequently to those with incomes in the $100k-150k range, with 2,730 originations. The second most popular income band? $150k-250k, with 2,235 originations.
Applicant Debt to Income Ratio
First Heritage Mortgage lent most frequently to those with DTI ratios of 20-30%, with 2,411 originations. The next most common DTI ratio? 30-36%, with 1,856 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.32%
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 origination81.41%
First Heritage Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10,158 | $3,738,710,000 | $368,056 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 16 | $1,680,000 | $105,000 |
| Single Family (1-4 Units):Site-Built | 10,142 | $3,737,030,000 | $368,471 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRSTRUST MORTGAGE, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
| FIRSTRUST MORTGAGE, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |