Family First Of Ny Mortgage Rates, Fees & Info

Rochester, NY

LEI: 549300EZIROI6ZF7B419

Tax ID: 16-0967546

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

    Family First Of Ny is a smaller mortgage company specializing in Refi and Home Purchase loans. Family First Of Ny has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Buffalo, Batavia, Punta Gorda, and Poughkeepsie among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Family First Of Ny 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. Family First Of Ny 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.39% 12/3/24
    30 Year Conventional Purchase 6.51% 12/3/24
    30 Year Conventional Refi 6.45% 12/3/24
    30 Year Cash-out Refi 6.16% 12/3/24
    15 Year Conventional Purchase 6.45% 12/3/24
    15 Year Conventional Refi 6.34% 12/3/24
    15 Year Cash-out Refi 6.34% 12/3/24
    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.

    Family First Of Ny Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Family First Of Ny. 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

    478

    Origination Dollar Volume (All Markets)

    $59,980,000

    Awards

    FAMILY FIRST OF NY 30 Year Conventional Loans gold FAMILY FIRST OF NY 30 Year Conventional Loans bronze
    Show all (2) 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
    ROCHESTER, NY (FHA|USDA|VA) 457 $55,455,000 $121,346 $2,637 3.92%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 7 $2,475,000 $353,571 $3,109 4.06%
    Batavia, NY (FHA|USDA|VA) 6 $1,090,000 $181,667 $2,169 3.22%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $295,000 $295,000 $2,970 3.38%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $185,000 $185,000 $3,730 2.75%
    Seneca Falls, NY (FHA|USDA|VA) 1 $185,000 $185,000 $1,698 3.25%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $165,000 $165,000 $2,834 3.00%
    Corning, NY (FHA|USDA|VA) 1 $65,000 $65,000 $2,289 3.75%
    Outside of Metro Areas 3 $65,000 $21,667 $0 4.05%
    Family First Of Ny's top markets include Rochester, Buffalo, Batavia, Punta Gorda, and Poughkeepsie among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    Pittsford Federal Credit Union
    Similarity Rank: 70
    RELIANT COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 190
    ESL Federal Credit Union
    Similarity Rank: 276
    FAMILY FIRST OF NY
    Similarity Rank: 378
    Fairport Savings Bank
    Similarity Rank: 399
    THE SUMMIT Federal Credit Union
    Similarity Rank: 432
    Five Star Bank
    Similarity Rank: 589
    HOME TOWN FUNDING, INC.
    Similarity Rank: 1254
    The Lyons National Bank
    Similarity Rank: 1856
    PARAGON HOME LOANS INC.
    Similarity Rank: 1856

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 315 $48,655,000 $154,460 $2,635 3.80%
    HELOC 163 $11,325,000 $69,479 n/a 4.11%

    For 2020, Family First Of Ny's most frequently originated type of loan was Conventional, with 315 originations. Their 2nd most popular type was HELOC, with 163 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 162 $28,530,000 $176,111 $2,540 3.33%
    Home Purchase 117 $18,375,000 $157,051 $2,855 3.63%
    Other 101 $6,595,000 $65,297 $0 4.60%
    Home Improvement 89 $4,865,000 $54,663 $5 4.62%
    Cash Out Refi 9 $1,615,000 $179,444 $2,533 2.99%

    For 2020, Family First Of Ny's most frequently cited loan purpose was Refi, with 162 originations. The 2nd most popular reason was Home Purchase, with 117 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 165 $12,575,000 $76,212 $2,743 4.04%
    30 Year 150 $22,770,000 $151,800 $2,678 3.44%
    15 Year 119 $21,825,000 $183,403 $2,606 3.75%
    10 Year 29 $1,905,000 $65,690 $1,897 5.96%
    5 Year 11 $305,000 $27,727 $1,452 4.80%
    Other 4 $600,000 $150,000 $2,878 3.06%

    For 2020, Family First Of Ny's most frequently cited loan duration was 20 Year, with 165 originations. The 2nd most popular length was 30 Year, with 150 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 143 $20,505,000 $143,392
    $1k-2k 67 $10,535,000 $157,239
    $2k-3k 12 $2,890,000 $240,833
    $3k-4k 2 $430,000 $215,000
    $4k-5k 1 $185,000 $185,000

    Family First Of Ny's average total fees were $2,678, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 257 $28,655,000 $111,498
    2.5-3% 95 $13,835,000 $145,632
    4-5% 56 $10,350,000 $184,821
    5-6% 41 $4,515,000 $110,122
    <2.5% 11 $1,845,000 $167,727
    6-7% 8 $330,000 $41,250
    7-8% 5 $265,000 $53,000
    Over 8% 5 $185,000 $37,000

    During 2020, Family First Of Ny's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 3-4%, with 257 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 230 $12,030,000 $52,304 $2,386 4.31%
    $100k-200k 178 $25,310,000 $142,191 $2,648 3.50%
    $200k-400k 61 $15,655,000 $256,639 $2,803 3.50%
    $600k-1MM 4 $2,940,000 $735,000 $0 4.68%
    $400k-600k 3 $1,455,000 $485,000 $4,085 3.67%
    $1MM+ 2 $2,590,000 $1,295,000 $0 4.63%

    2020 saw Family First Of Ny place emphasis on $100,000 or less loans with 230 originations, totaling $12,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 118 $14,160,000 $120,000 $2,580 3.83%
    $50k-75k 86 $8,110,000 $94,302 $2,548 3.69%
    $150k-250k 75 $10,485,000 $139,800 $2,789 3.89%
    $50k or less 71 $5,815,000 $81,901 $2,710 3.92%
    $75k-100k 65 $6,875,000 $105,769 $2,500 3.68%
    $250k+ 32 $4,480,000 $140,000 $3,635 4.11%

    Family First Of Ny lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $50k-75k, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 131 $16,015,000 $122,252 $2,520 3.59%
    30-36% 97 $9,315,000 $96,031 $2,720 4.00%
    <20% 54 $5,650,000 $104,630 $2,581 3.73%
    41% 22 $2,490,000 $113,182 $2,589 3.84%
    37% 17 $1,675,000 $98,529 $2,274 4.19%
    39% 17 $2,175,000 $127,941 $2,472 3.51%
    40% 16 $1,320,000 $82,500 $2,725 3.96%
    36% 16 $1,840,000 $115,000 $2,943 3.92%
    38% 16 $1,590,000 $99,375 $2,878 4.18%
    44% 15 $1,665,000 $111,000 $2,506 3.92%
    43% 14 $1,500,000 $107,143 $2,971 3.65%
    42% 14 $1,510,000 $107,857 $2,661 4.10%
    47% 6 $1,380,000 $230,000 $2,800 3.15%
    45% 5 $505,000 $101,000 $2,295 4.77%
    46% 5 $585,000 $117,000 $2,996 5.47%
    48% 2 $420,000 $210,000 $3,197 2.94%
    49% 2 $470,000 $235,000 $3,697 3.50%

    Family First Of Ny lent most frequently to those with DTI ratios of 20-30%, with 131 originations. The next most common DTI ratio? 30-36%, with 97 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 417 $47,355,000 $113,561 $2,630 3.82%
    Not applicable 30 $9,930,000 $331,000 $2,811 5.04%
    Black 16 $1,510,000 $94,375 $2,693 3.97%
    Asian 8 $750,000 $93,750 $2,640 3.30%
    Korean 2 $130,000 $65,000 $0 4.50%
    Asian Indian 1 $105,000 $105,000 $0 3.95%
    American Indian 2 $100,000 $50,000 $0 5.87%
    Not provided 2 $100,000 $50,000 $0 3.95%

    Approval Rates

    Total approvals of all applications
    95.34%

    Family First Of Ny 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
    85.15%

    Family First Of Ny has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 478 $59,980,000 $125,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 15 $7,825,000 $521,667
    Single Family (1-4 Units):Manufactured 209 $14,475,000 $69,258
    Single Family (1-4 Units):Site-Built 254 $37,680,000 $148,346

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $4,045,000 $60,373 $2,211 4.34%
    40-60% 53 $6,555,000 $123,679 $2,456 3.73%
    60-80% 144 $25,780,000 $179,028 $2,611 3.49%
    80-100% 102 $18,800,000 $184,314 $2,774 3.50%
    Over 100% 1 $95,000 $95,000 $0 4.50%
    Under 20% 111 $4,705,000 $42,387 $1,658 4.62%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Family First Funding LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Family First Funding LLC FHA mortgage Closing on a mortgage 1 50.0%