First Entertainment Mortgage Rates, Fees & Info
Los Angeles, CALEI: 549300F6S4S7QMOUVG59
Tax ID: 95-2513485
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Mortgage Data
Review & Overview
First Entertainment is a smaller mortgage company specializing in Refi loans. First Entertainment has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Diego, Oxnard, Riverside, and Madera among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)First Entertainment 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 Entertainment 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 6.00% | 4/18/24 |
| 30 Year Conventional Refi | 6.06% | 4/18/24 |
| 30 Year Cash-out Refi | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 5.46% | 4/18/24 |
| 15 Year Conventional Refi | 5.48% | 4/18/24 |
| 15 Year Cash-out Refi | 5.48% | 4/18/24 |
| 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 Entertainment Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
612Origination Dollar Volume (All Markets)
$320,940,000Awards
FIRST ENTERTAINMENT - 2021
FIRST ENTERTAINMENT is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 525 | $271,445,000 | $517,038 | $3,092 | 2.79% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 9 | $12,295,000 | $1,366,111 | $4,648 | 2.83% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 26 | $11,540,000 | $443,846 | $2,497 | 2.77% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 34 | $9,950,000 | $292,647 | $3,108 | 2.90% |
| MADERA, CA (FHA|USDA|VA) | 2 | $4,760,000 | $2,380,000 | $4,329 | 3.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $2,930,000 | $1,465,000 | $2,814 | 3.13% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,450,000 | $725,000 | $3,134 | 3.13% |
| CHICO, CA (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $0 | 3.88% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,315,000 | $1,315,000 | $3,041 | 3.13% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $1,310,000 | $655,000 | $4,456 | 2.81% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $4,908 | 3.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $2,566 | 2.75% |
| Outside of Metro Areas | 1 | $505,000 | $505,000 | $9,526 | 3.00% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,489 | 2.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $2,119 | 2.50% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,173 | 2.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against FIRST ENTERTAINMENT based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 612 | $320,940,000 | $524,412 | $3,101 | 2.80% |
For 2021, First Entertainment's most frequently originated type of loan was Conventional, with 612 originations.
Loan Reason
For 2021, First Entertainment's most frequently cited loan purpose was Refi, with 532 originations. The 2nd most popular reason was Home Purchase, with 68 originations.
Loan Duration/Length
For 2021, First Entertainment's most frequently cited loan duration was 30 Year, with 402 originations. The 2nd most popular length was 15 Year, with 125 originations.
Origination Fees/Closing Costs
First Entertainment's average total fees were $3,606, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 484 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 274 | $141,290,000 | $515,657 |
| <2.5% | 168 | $54,920,000 | $326,905 |
| 3-4% | 168 | $124,070,000 | $738,512 |
| 4-5% | 2 | $660,000 | $330,000 |
During 2021, First Entertainment's average interest rate for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 274 originations.
Loan Sizing
2021 saw First Entertainment place emphasis on $200k-400k loans with 211 originations, totaling $62,975,000 in origination value.
Applicant Income
First Entertainment lent most frequently to those with incomes in the $150k-250k range, with 161 originations. The second most popular income band? $100k-150k, with 153 originations.
Applicant Debt to Income Ratio
First Entertainment lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? 30-36%, with 108 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.06%
First Entertainment has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination19.77%
First Entertainment 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 |
|---|---|---|---|
| 10760.0 | 1 | $1,855,000 | $1,855,000 |
| 11975.0 | 1 | $2,095,000 | $2,095,000 |
| 12000.0 | 1 | $2,105,000 | $2,105,000 |
| 12850.0 | 1 | $2,275,000 | $2,275,000 |
| 13410.0 | 1 | $2,385,000 | $2,385,000 |
| 13875.0 | 1 | $2,475,000 | $2,475,000 |
| 15190.0 | 1 | $4,345,000 | $4,345,000 |
| 22200.0 | 1 | $4,145,000 | $4,145,000 |
| 23985.0 | 1 | $4,495,000 | $4,495,000 |
| 5375.0 | 1 | $975,000 | $975,000 |
| 5750.0 | 1 | $855,000 | $855,000 |
| 5820.0 | 1 | $865,000 | $865,000 |
| 6170.0 | 1 | $935,000 | $935,000 |
| 6185.0 | 1 | $935,000 | $935,000 |
| 7360.0 | 1 | $1,175,000 | $1,175,000 |
| 7375.0 | 1 | $1,175,000 | $1,175,000 |
| 8500.0 | 1 | $1,405,000 | $1,405,000 |
| 8625.0 | 1 | $1,655,000 | $1,655,000 |
| 8875.0 | 1 | $1,475,000 | $1,475,000 |
| 9750.0 | 1 | $1,655,000 | $1,655,000 |
| NA | 592 | $281,660,000 | $475,777 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST INTERSTATE BANCSYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| FIRST INTERSTATE BANCSYSTEM, INC. | Other type of mortgage | Trouble during payment process | 1 | 50.0% |