First United Corporation Mortgage Rates, Fees & Info
Oakland, MDLEI: 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 and Refi 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, Washington, Hagerstown, Cumberland, and Chambersburg among others. We have data for 22 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
304Origination Dollar Volume (All Markets)
$110,400,000Top 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 | 107 | $54,035,000 | $505,000 | $0 | 0.00% |
| MORGANTOWN, WV (FHA|USDA|VA) | 52 | $13,340,000 | $256,538 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 20 | $9,870,000 | $493,500 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 28 | $9,250,000 | $330,357 | $0 | 0.00% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 52 | $8,710,000 | $167,500 | $0 | 0.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 8 | $2,650,000 | $331,250 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $2,395,000 | $798,333 | $0 | 0.00% |
| Clarksburg, WV (FHA|USDA|VA) | 8 | $2,290,000 | $286,250 | $0 | 0.00% |
| Fairmont, WV (FHA|USDA|VA) | 8 | $1,500,000 | $187,500 | $0 | 0.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 0.00% |
| Somerset, PA (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $0 | 0.00% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 299 | $109,755,000 | $367,074 | $0 | 0.00% |
| USDA | 5 | $645,000 | $129,000 | $0 | 0.00% |
For 2022, First United Corporation's most frequently originated type of loan was Conventional, with 299 originations. Their 2nd most popular type was USDA, with 5 originations.
Loan Reason
For 2022, First United Corporation's most frequently cited loan purpose was Home Purchase, with 215 originations. The 2nd most popular reason was Refi, with 48 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 304 | $110,400,000 | $363,158 | $0 | 0.00% |
For 2022, First United Corporation's most frequently cited loan duration was Other, with 304 originations.
Loan Sizing
2022 saw First United Corporation place emphasis on $200k-400k loans with 94 originations, totaling $25,940,000 in origination value.
Applicant Income
First United Corporation lent most frequently to those with incomes in the $250k+ range, with 60 originations. The second most popular income band? $100k-150k, with 44 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 304 | $110,400,000 | $363,158 | $0 | 0.00% |
First United Corporation lent most frequently to those with DTI ratios of Exempt%, with 304 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.22%
First United Corporation has an average approval rate.
Pick Rate
Approvals leading to origination81.91%
First United Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 304 | $110,400,000 | $363,158 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |