First United Corporation Mortgage Rates, Fees & Info

Oakland, MD

LEI: 549300G54QPXQLB4KN58

Tax ID: 52-0312890

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Mortgage Data

Review & Overview

First United Corporation is a smaller mortgage company specializing in Home Purchase loans. First United Corporation has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Morgantown, Cumberland, Hagerstown, Washington, and Miami among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

First United Corporation has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

266

Origination Dollar Volume (All Markets)

$88,230,000

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
Outside of Metro Areas 76 $34,600,000 $455,263 $0 0.00%
MORGANTOWN, WV (FHA|USDA|VA) 37 $13,025,000 $352,027 $0 0.00%
CUMBERLAND, MD-WV (FHA|USDA|VA) 72 $11,070,000 $153,750 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 27 $9,005,000 $333,519 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 17 $8,215,000 $483,235 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,980,000 $990,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 2 $1,870,000 $935,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $930,000 $465,000 $0 0.00%
Morehead City, NC (FHA|USDA|VA) 1 $885,000 $885,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $840,000 $420,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $825,000 $275,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $785,000 $785,000 $0 0.00%
Fairmont, WV (FHA|USDA|VA) 4 $730,000 $182,500 $0 0.00%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 3 $655,000 $218,333 $0 0.00%
Clarksburg, WV (FHA|USDA|VA) 3 $465,000 $155,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
Somerset, PA (FHA|USDA|VA) 3 $285,000 $95,000 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
BECKLEY, WV (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
GETTYSBURG, PA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
First United Corporation's top markets include Morgantown, Cumberland, Hagerstown, Washington, and Miami among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 265 $88,095,000 $332,434 $0 0.00%
    USDA 1 $135,000 $135,000 $0 0.00%

    For 2023, First United Corporation's most frequently originated type of loan was Conventional, with 265 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 214 $73,530,000 $343,598 $0 0.00%
    Cash Out Refi 28 $7,510,000 $268,214 $0 0.00%
    Refi 21 $6,885,000 $327,857 $0 0.00%
    Home Improvement 3 $305,000 $101,667 $0 0.00%

    For 2023, First United Corporation's most frequently cited loan purpose was Home Purchase, with 214 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 266 $88,230,000 $331,692 $0 0.00%

    For 2023, First United Corporation's most frequently cited loan duration was Other, with 266 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 81 $12,365,000 $152,654 $0 0.00%
    $200k-400k 76 $21,040,000 $276,842 $0 0.00%
    $100,000 or less 44 $3,060,000 $69,545 $0 0.00%
    $400k-600k 32 $15,200,000 $475,000 $0 0.00%
    $600k-1MM 18 $13,600,000 $755,556 $0 0.00%
    $1MM+ 15 $22,965,000 $1,531,000 $0 0.00%

    2023 saw First United Corporation place emphasis on $100k-200k loans with 81 originations, totaling $12,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 48 $37,500,000 $781,250 $0 0.00%
    $50k or less 46 $6,830,000 $148,478 $0 0.00%
    $100k-150k 41 $10,665,000 $260,122 $0 0.00%
    $150k-250k 40 $14,620,000 $365,500 $0 0.00%
    $50k-75k 39 $5,495,000 $140,897 $0 0.00%
    $75k-100k 26 $5,640,000 $216,923 $0 0.00%

    First United Corporation lent most frequently to those with incomes in the $250k+ range, with 48 originations. The second most popular income band? $50k or less, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 266 $88,230,000 $331,692 $0 0.00%

    First United Corporation lent most frequently to those with DTI ratios of Exempt%, with 266 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 203 $58,895,000 $290,123 $0 0.00%
    Not provided 32 $16,340,000 $510,625 $0 0.00%
    Not applicable 24 $7,080,000 $295,000 $0 0.00%
    Asian 3 $4,245,000 $1,415,000 $0 0.00%
    Black 3 $1,325,000 $441,667 $0 0.00%
    Chinese 1 $345,000 $345,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.56%

    First United Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.95%

    First United Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 266 $88,230,000 $331,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    266 $88,230,000 $331,692