First Home Mortgage Corporation Rates, Fees & Info

LUTHERVILLE TIMONIUM, MD

LEI: 549300GPO6DWUZR4UY30

Tax ID: 52-1696740

2020 Data | 2019 Data | 2018 Data


Overview

First Home Mortgage Corporation is a mid-sized mortgage company specializing in Home Purchase and Refi loans. First Home Mortgage Corporation 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 include Washington, Baltimore, Frederick, California, and Salisbury among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. First Home Mortgage Corporation is typically a high fee lendor.


Originations

16,338

Origination Dollar Volume (All Markets)

$5,668,880,000

Relative Rate

First Home Mortgage Corporation's average 30 year fixed rate mortgage was 3.27%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.09%.

Relative Fees

First Home Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $6,884.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 11,550 $4,020,920,000 $348,132 $5,768 3.24%
FHA 2,302 $665,130,000 $288,936 $10,663 3.29%
VA 1,915 $842,555,000 $439,977 $7,299 2.91%
USDA 571 $140,275,000 $245,665 $6,947 3.08%

For the 2020 period, First Home Mortgage Corporation's most frequently originated loan type was Conventional, with 11,550 originations. Their 2nd most popular type is FHA, with 2,302 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 8,708 $2,990,620,000 $343,434 $7,798 3.28%
Refi 6,428 $2,299,040,000 $357,660 $5,226 3.08%
Cash Out Refi 1,155 $369,225,000 $319,675 $6,104 3.30%
Other 25 $5,765,000 $230,600 $4,996 3.40%
Home Improvement 22 $4,230,000 $192,273 $5,424 3.68%

For the 2020, First Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 8,708 originations. The 2nd most popular reason was Refi, with 6,428 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 14,413 $5,084,505,000 $352,772 $6,866 3.25%
15 Year 1,349 $394,015,000 $292,079 $4,438 2.71%
20 Year 379 $127,935,000 $337,559 $4,641 3.11%
Other 127 $45,355,000 $357,126 $4,677 3.19%
10 Year 70 $17,070,000 $243,857 $3,885 2.60%

For the 2020, First Home Mortgage Corporation's most frequently cited loan length was 30 Year, with 14,413 originations. The 2nd most popular length was 15 Year, with 1,349 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 8,282 $2,705,080,000 $326,622
$3k-4k 2,711 $876,745,000 $323,403
$5k+ 2,079 $996,095,000 $479,122
$2k-3k 1,876 $541,140,000 $288,454
$<1k 1,390 $549,820,000 $395,554

$6,884 was First Home Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 8,282 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 4,653 $1,926,665,000 $414,069 $7,357 3.17%
BALTIMORE-COLUMBIA-TOWSON, MD 5,731 $1,879,035,000 $327,872 $6,812 3.21%
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 1,555 $627,815,000 $403,740 $6,355 3.16%
CALIFORNIA-LEXINGTON PARK, MD 787 $249,635,000 $317,198 $6,346 3.10%
Outside of Metro Areas 574 $155,940,000 $271,672 $5,309 3.21%
SALISBURY, MD-DE 614 $151,070,000 $246,042 $4,981 3.29%
PROVIDENCE-WARWICK, RI-MA 499 $133,165,000 $266,864 $5,401 3.34%
CHARLESTON-NORTH CHARLESTON, SC 407 $131,575,000 $323,280 $4,313 3.21%
BOSTON, MA 309 $99,875,000 $323,220 $6,308 3.25%
HAGERSTOWN-MARTINSBURG, MD-WV 311 $70,575,000 $226,929 $5,720 3.30%
RICHMOND, VA 170 $46,610,000 $274,176 $4,676 3.29%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 76 $17,140,000 $225,526 $6,222 3.21%
BARNSTABLE TOWN, MA 45 $16,455,000 $365,667 $5,892 3.22%
WILMINGTON, DE-MD-NJ 58 $15,100,000 $260,345 $6,772 3.21%
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 36 $12,670,000 $351,944 $5,224 3.09%
WORCESTER, MA-CT 44 $11,830,000 $268,864 $5,733 3.23%
CHARLOTTE-CONCORD-GASTONIA, NC-SC 43 $11,235,000 $261,279 $3,908 3.30%
YORK-HANOVER, PA 40 $10,010,000 $250,250 $7,717 3.20%
CHAMBERSBURG-WAYNESBORO, PA 39 $7,455,000 $191,154 $5,594 3.26%
DOVER, DE 29 $6,905,000 $238,103 $6,910 3.38%
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 17 $5,735,000 $337,353 $6,254 3.11%
WINCHESTER, VA-WV 16 $4,970,000 $310,625 $5,566 3.24%
GREENVILLE-ANDERSON, SC 9 $3,815,000 $423,889 $4,959 3.06%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 16 $3,810,000 $238,125 $4,902 3.36%
CHARLOTTESVILLE, VA 9 $3,595,000 $399,444 $4,998 2.92%
JACKSONVILLE, FL 7 $3,475,000 $496,429 $6,880 2.96%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 9 $3,315,000 $368,333 $5,518 3.29%
HILTON HEAD ISLAND-BLUFFTON, SC 9 $2,775,000 $308,333 $4,066 3.18%
NORTH PORT-SARASOTA-BRADENTON, FL 10 $2,550,000 $255,000 $4,716 3.15%
RALEIGH-CARY, NC 8 $2,540,000 $317,500 $2,987 3.05%
ASHEVILLE, NC 8 $2,530,000 $316,250 $3,716 3.11%
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 8 $2,320,000 $290,000 $5,200 3.41%
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 4 $2,140,000 $535,000 $4,951 3.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 7 $2,085,000 $297,857 $6,745 3.00%
WILMINGTON, NC 7 $2,085,000 $297,857 $4,292 2.79%
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 6 $1,850,000 $308,333 $6,416 3.10%
NEWARK, NJ-PA 4 $1,640,000 $410,000 $7,205 3.16%
MIAMI-MIAMI BEACH-KENDALL, FL 5 $1,635,000 $327,000 $9,556 3.05%
GETTYSBURG, PA 8 $1,580,000 $197,500 $6,258 3.02%
ORLANDO-KISSIMMEE-SANFORD, FL 5 $1,565,000 $313,000 $3,743 3.23%
SPRINGFIELD, MA 8 $1,540,000 $192,500 $8,467 3.39%
HARRISBURG-CARLISLE, PA 6 $1,500,000 $250,000 $4,629 3.25%
CUMBERLAND, MD-WV 11 $1,435,000 $130,455 $5,695 3.43%
PITTSBURGH, PA 7 $1,375,000 $196,429 $5,399 3.20%
NEW BRUNSWICK-LAKEWOOD, NJ 4 $1,370,000 $342,500 $8,158 3.31%
PUNTA GORDA, FL 3 $1,235,000 $411,667 $6,833 3.25%
PORT ST. LUCIE, FL 3 $1,135,000 $378,333 $6,247 3.13%
JACKSONVILLE, NC 5 $1,135,000 $227,000 $3,558 2.93%
LYNCHBURG, VA 5 $1,055,000 $211,000 $3,448 3.90%
CAPE CORAL-FORT MYERS, FL 4 $1,050,000 $262,500 $6,460 2.97%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 4 $1,000,000 $250,000 $7,078 3.00%
CAMDEN, NJ 4 $900,000 $225,000 $5,325 3.25%
PHILADELPHIA, PA 4 $900,000 $225,000 $5,686 3.06%
MANCHESTER-NASHUA, NH 3 $865,000 $288,333 $6,586 3.29%
NAPLES-MARCO ISLAND, FL 3 $825,000 $275,000 $8,274 3.13%
READING, PA 4 $750,000 $187,500 $5,098 2.97%
SEBASTIAN-VERO BEACH, FL 3 $725,000 $241,667 $5,409 2.79%
COLUMBIA, SC 5 $695,000 $139,000 $3,635 4.13%
NEW HAVEN-MILFORD, CT 4 $690,000 $172,500 $3,683 2.84%
BRIDGEPORT-STAMFORD-NORWALK, CT 2 $660,000 $330,000 $4,561 3.25%
GREENSBORO-HIGH POINT, NC 4 $610,000 $152,500 $2,083 3.00%
NEW BERN, NC 2 $550,000 $275,000 $8,236 3.00%
OCEAN CITY, NJ 1 $515,000 $515,000 $13,220 2.50%
TALLAHASSEE, FL 1 $515,000 $515,000 $7,619 3.00%
ROCKY MOUNT, NC 2 $510,000 $255,000 $3,602 2.63%
FAYETTEVILLE, NC 3 $495,000 $165,000 $1,976 2.71%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 3 $485,000 $161,667 $4,009 3.25%
DURHAM-CHAPEL HILL, NC 2 $420,000 $210,000 $3,579 2.81%
LANCASTER, PA 1 $395,000 $395,000 $16,024 2.88%
CHATTANOOGA, TN-GA 1 $385,000 $385,000 $2,509 2.75%
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 1 $375,000 $375,000 $3,582 3.88%
ATLANTIC CITY-HAMMONTON, NJ 2 $370,000 $185,000 $5,367 3.06%
PENSACOLA-FERRY PASS-BRENT, FL 2 $370,000 $185,000 $5,176 3.25%
HARRISONBURG, VA 2 $360,000 $180,000 $3,847 4.06%
ROANOKE, VA 1 $355,000 $355,000 $3,780 2.88%
CHARLESTON, WV 1 $355,000 $355,000 $3,738 3.50%
TRENTON-PRINCETON, NJ 1 $335,000 $335,000 $5,158 2.63%
SAVANNAH, GA 1 $305,000 $305,000 $2,450 3.00%
SCRANTON--WILKES-BARRE, PA 2 $300,000 $150,000 $4,043 3.56%
OCALA, FL 2 $300,000 $150,000 $4,350 3.06%
GAINESVILLE, GA 1 $295,000 $295,000 $1,720 3.13%
HICKORY-LENOIR-MORGANTON, NC 1 $235,000 $235,000 $2,303 2.75%
SPARTANBURG, SC 1 $225,000 $225,000 $2,773 3.38%
FLORENCE, SC 1 $215,000 $215,000 $3,174 3.50%
STAUNTON, VA 1 $215,000 $215,000 $3,177 3.25%
WINSTON-SALEM, NC 1 $195,000 $195,000 $3,956 2.38%
NORWICH-NEW LONDON, CT 1 $175,000 $175,000 $6,405 2.63%
BURLINGTON, NC 1 $175,000 $175,000 $4,680 3.13%
PITTSFIELD, MA 2 $170,000 $85,000 $0 2.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $165,000 $165,000 $2,433 2.88%
BLACKSBURG-CHRISTIANSBURG, VA 1 $145,000 $145,000 $4,261 5.00%
HOMOSASSA SPRINGS, FL 1 $135,000 $135,000 $3,493 3.50%
STATE COLLEGE, PA 1 $125,000 $125,000 $6,521 3.38%
LEWISTON-AUBURN, ME 1 $125,000 $125,000 $3,154 3.25%
DETROIT-DEARBORN-LIVONIA, MI 1 $95,000 $95,000 $4,334 3.88%
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $95,000 $95,000 $4,178 3.00%
MORGANTOWN, WV 1 $95,000 $95,000 $4,846 5.25%
LAKELAND-WINTER HAVEN, FL 1 $85,000 $85,000 $3,073 5.50%

First Home Mortgage Corporation's top markets include Washington, Baltimore, Frederick, California, and Salisbury among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 8,560 $2,849,210,000 $332,852
2.5-3% 5,977 $2,213,115,000 $370,272
<2.5% 1,132 $429,770,000 $379,655
4-5% 609 $164,215,000 $269,647
5-6% 60 $12,570,000 $209,500

During 2020, First Home Mortgage Corporation's average interest rate was 3.27%, while their most frequently originated rate bucket was 3-4%, with 8,560 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 8,997 $2,648,565,000 $294,383 $5,976 3.20%
$400k-600k 3,805 $1,814,155,000 $476,782 $7,444 3.12%
$100k-200k 2,223 $359,875,000 $161,887 $4,871 3.37%
$600k-1MM 996 $711,710,000 $714,568 $11,066 3.09%
$100,000 or less 221 $14,335,000 $64,864 $3,733 3.48%
$1MM+ 96 $120,240,000 $1,252,500 $12,129 3.06%

2020 saw First Home Mortgage Corporation place emphasis on $200k-400k loans with 8,997 originations, totaling $2,648,565,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 3,828 $1,384,670,000 $361,722 $6,936 3.20%
$50k-75k 3,151 $773,985,000 $245,632 $6,205 3.28%
$150k-250k 3,068 $1,323,070,000 $431,248 $6,960 3.16%
$75k-100k 2,836 $861,040,000 $303,611 $6,553 3.25%
$250k+ 1,246 $683,310,000 $548,403 $7,163 3.11%
$50k or less 1,087 $195,635,000 $179,977 $5,774 3.36%

First Home Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 3,828 originations. The second most popular income band? $50k-75k, with 3,151 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,633 $1,280,295,000 $352,407 $5,941 3.17%
30-36% 2,851 $984,045,000 $345,158 $6,484 3.25%
<20% 1,338 $492,780,000 $368,296 $5,453 3.04%
44% 694 $215,780,000 $310,922 $7,208 3.36%
43% 609 $198,505,000 $325,952 $7,081 3.35%
50-60% 605 $208,175,000 $344,091 $10,664 3.10%
42% 578 $193,560,000 $334,879 $6,878 3.28%
38% 577 $192,465,000 $333,562 $6,879 3.27%
41% 560 $187,590,000 $334,982 $7,299 3.32%
39% 559 $188,085,000 $336,467 $7,087 3.27%
40% 545 $179,435,000 $329,239 $6,555 3.28%
37% 544 $180,950,000 $332,629 $6,540 3.28%
36% 492 $167,300,000 $340,041 $6,727 3.27%
45% 368 $123,210,000 $334,810 $7,308 3.24%
48% 339 $115,885,000 $341,844 $7,728 3.22%
49% 338 $108,830,000 $321,982 $7,251 3.25%
46% 333 $114,465,000 $343,739 $7,173 3.25%
47% 302 $102,800,000 $340,397 $7,399 3.25%
>60% 18 $10,510,000 $583,889 $13,352 3.19%

First Home Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 3,633 originations. The next most common DTI ratio? 30-36%, with 2,851 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 11,605 $4,046,825,000 $348,714 $6,261 3.18%
Black 2,406 $760,210,000 $315,964 $7,839 3.32%
Not provided 1,672 $621,890,000 $371,944 $7,291 3.17%
Asian 529 $194,585,000 $367,836 $5,897 3.09%
American Indian 66 $22,600,000 $342,424 $7,390 3.15%
Native Hawaiian 28 $10,060,000 $359,286 $5,810 3.06%
Asian Indian 13 $5,165,000 $397,308 $5,819 3.38%
Other Asian 8 $3,680,000 $460,000 $8,240 3.38%
Filipino 7 $2,395,000 $342,143 $9,021 3.09%
Chinese 2 $890,000 $445,000 $11,201 3.38%
Other Pacific Islander 2 $580,000 $290,000 $8,984 3.19%

Approval Rates

Total approvals of all applications
97.27%

First Home Mortgage Corporation 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
81.69%

First Home Mortgage Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 16,338 $5,668,880,000 $346,975

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 3 $445,000 $148,333
Single Family (1-4 Units):Site-Built 16,335 $5,668,435,000 $347,012

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 278 $67,420,000 $242,518 $4,075 3.00%
40-60% 1,264 $413,880,000 $327,437 $4,628 2.98%
60-80% 4,560 $1,638,610,000 $359,344 $5,479 3.21%
80-100% 8,794 $2,976,400,000 $338,458 $7,473 3.28%
Over 100% 405 $175,365,000 $433,000 $14,551 3.02%
Under 20% 75 $3,695,000 $49,267 $2,080 2.84%