First Alliance Home Mortgage Rates, Fees & Info

Cranford, NJ

LEI: 549300H12E7AUMUHP294

Tax ID: 20-1792214

2.4 stars - out of 5 stars, based on 47 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Alliance Home Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. First Alliance Home Mortgage 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 New York, Philadelphia, Charlotte, Harrisburg, and Miami among others. First Alliance Home Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Alliance Home Mortgage is typically a high fee lendor.


Originations

2,197

Origination Dollar Volume (All Markets)

$735,055,000

Awards

FIRST ALLIANCE HOME MORTGAGE  FHA Loans bronze FIRST ALLIANCE HOME MORTGAGE  30 Year Conventional Loans bronze FIRST ALLIANCE HOME MORTGAGE  30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

First Alliance Home Mortgage 's average 30 year fixed rate mortgage of loans were 3.12%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.03%.

Relative Fees

First Alliance Home Mortgage 's average total fees for a 30 year fixed rate mortgage are $7,402.

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 $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1,211 $459,555,000 $379,484 $8,075 3.03%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 172 $51,450,000 $299,128 $5,012 2.94%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 86 $27,630,000 $321,279 $3,388 2.88%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 94 $20,740,000 $220,638 $5,576 2.98%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 69 $20,125,000 $291,667 $6,655 3.11%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 56 $17,720,000 $316,429 $4,820 2.88%
YORK-HANOVER, PA (FHA|USDA|VA) 81 $16,715,000 $206,358 $6,093 2.97%
RALEIGH-CARY, NC (FHA|USDA|VA) 39 $12,665,000 $324,744 $2,920 2.76%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 38 $10,450,000 $275,000 $6,348 3.21%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 19 $7,225,000 $380,263 $3,730 2.80%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 14 $6,620,000 $472,857 $11,154 3.42%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 26 $5,980,000 $230,000 $3,724 3.02%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 24 $5,380,000 $224,167 $6,744 3.19%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 15 $4,905,000 $327,000 $3,628 2.58%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 9 $3,625,000 $402,778 $6,390 2.90%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 10 $3,470,000 $347,000 $3,260 2.68%
Outside of Metro Areas 11 $3,395,000 $308,636 $6,371 3.20%
STOCKTON, CA (FHA|USDA|VA) 11 $3,285,000 $298,636 $7,183 3.11%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 15 $2,975,000 $198,333 $6,348 2.94%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $2,620,000 $327,500 $4,424 3.23%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 7 $2,545,000 $363,571 $6,267 2.71%
GETTYSBURG, PA (FHA|USDA|VA) 11 $2,275,000 $206,818 $5,766 3.16%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 8 $2,020,000 $252,500 $6,125 3.44%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 6 $1,920,000 $320,000 $8,416 3.04%
READING, PA (FHA|USDA|VA) 9 $1,825,000 $202,778 $6,077 3.06%
EAST STROUDSBURG, PA (FHA|USDA|VA) 8 $1,750,000 $218,750 $6,961 3.14%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,725,000 $575,000 $6,804 2.96%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $1,690,000 $422,500 $3,136 3.03%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $1,630,000 $407,500 $6,548 2.81%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 7 $1,535,000 $219,286 $7,122 3.46%
Pottsville, PA (FHA|USDA|VA) 14 $1,520,000 $108,571 $4,719 3.07%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $1,460,000 $243,333 $3,432 2.77%
LANCASTER, PA (FHA|USDA|VA) 7 $1,455,000 $207,857 $6,532 3.09%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,265,000 $421,667 $3,733 2.75%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 4 $1,250,000 $312,500 $3,877 3.41%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,175,000 $391,667 $5,406 3.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $1,125,000 $160,714 $5,427 3.39%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,000,000 $500,000 $13,085 2.99%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 4 $950,000 $237,500 $4,863 3.13%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $910,000 $455,000 $5,041 2.94%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $900,000 $225,000 $5,023 2.78%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $890,000 $445,000 $3,619 3.63%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 5 $885,000 $177,000 $3,395 3.05%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $820,000 $410,000 $8,802 2.56%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $815,000 $271,667 $5,571 3.25%
LEBANON, PA (FHA|USDA|VA) 4 $780,000 $195,000 $5,408 2.94%
PITTSBURGH, PA (FHA|USDA|VA) 3 $765,000 $255,000 $5,437 2.83%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $650,000 $325,000 $5,503 3.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $600,000 $300,000 $3,311 2.56%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $545,000 $545,000 $3,760 2.25%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $525,000 $525,000 $4,017 3.50%
CHICO, CA (FHA|USDA|VA) 1 $525,000 $525,000 $4,762 3.25%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $520,000 $260,000 $3,168 3.13%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $500,000 $125,000 $6,979 3.22%
MORRISTOWN, TN (FHA|USDA|VA) 1 $445,000 $445,000 $6,095 3.50%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $430,000 $215,000 $4,164 3.44%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $365,000 $365,000 $3,205 3.38%
GAINESVILLE, FL (FHA|USDA|VA) 1 $355,000 $355,000 $5,126 2.00%
OCALA, FL (FHA|USDA|VA) 2 $350,000 $175,000 $6,928 3.19%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $345,000 $345,000 $7,763 3.38%
MODESTO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $4,546 3.50%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $325,000 $325,000 $4,722 3.00%
STAUNTON, VA (FHA|USDA|VA) 1 $315,000 $315,000 $8,748 2.38%
COLUMBUS, OH (FHA|USDA|VA) 1 $305,000 $305,000 $3,793 2.50%
SYRACUSE, NY (FHA|USDA|VA) 1 $295,000 $295,000 $4,788 2.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $295,000 $295,000 $10,319 3.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $265,000 $265,000 $3,387 3.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,666 3.50%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $245,000 $245,000 $4,671 2.50%
Statesboro, GA (FHA|USDA|VA) 2 $240,000 $120,000 $3,369 3.44%
Cookeville, TN (FHA|USDA|VA) 1 $235,000 $235,000 $3,586 2.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $205,000 $205,000 $7,564 3.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,000 2.88%
KINGSTON, NY (FHA|USDA|VA) 1 $185,000 $185,000 $4,408 3.38%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $185,000 $185,000 $6,213 2.88%
WILMINGTON, NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,737 3.25%
ROCHESTER, NY (FHA|USDA|VA) 1 $185,000 $185,000 $5,171 4.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $175,000 $175,000 $7,346 2.88%
Sanford, NC (FHA|USDA|VA) 1 $175,000 $175,000 $5,041 3.63%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $165,000 $165,000 $2,379 3.00%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $165,000 $165,000 $7,040 2.75%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $155,000 $155,000 $3,093 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $6,532 3.25%
Huntingdon, PA (FHA|USDA|VA) 1 $135,000 $135,000 $5,341 2.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $115,000 $115,000 $5,387 3.00%

First Alliance Home Mortgage 's top markets include New York, Philadelphia, Charlotte, Harrisburg, and Miami among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,739 $578,855,000 $332,867 $5,420 3.00%
FHA 438 $148,480,000 $338,995 $12,162 3.07%
VA 16 $6,920,000 $432,500 $13,467 2.88%
USDA 4 $800,000 $200,000 $6,878 3.03%

For the 2021 period, First Alliance Home Mortgage 's most frequently originated loan type of loans were Conventional, with 1,739 originations. Their 2nd most popular type is FHA, with 438 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,135 $388,295,000 $342,110 $8,226 3.13%
Refi 1,061 $346,355,000 $326,442 $5,329 2.89%
Home Improvement 1 $405,000 $405,000 $4,900 2.88%

For the 2021, First Alliance Home Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,135 originations. The 2nd most popular reason of loans were Refi, with 1,061 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,798 $607,840,000 $338,065 $7,402 3.12%
15 Year 280 $91,930,000 $328,321 $3,968 2.40%
20 Year 80 $24,420,000 $305,250 $4,746 2.74%
Other 26 $7,580,000 $291,538 $5,293 2.89%
10 Year 13 $3,285,000 $252,692 $4,459 3.06%

For the 2021, First Alliance Home Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,798 originations. The 2nd most popular length of loans were 15 Year, with 280 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,349 $454,495,000 $336,913
$3k-4k 281 $90,565,000 $322,295
$5k+ 253 $105,755,000 $418,004
$2k-3k 220 $61,400,000 $279,091
$<1k 93 $22,495,000 $241,882

$7,402 of loans were First Alliance Home Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,349 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 942 $299,330,000 $317,760
2.5-3% 814 $280,940,000 $345,135
<2.5% 392 $139,400,000 $355,612
4-5% 46 $14,930,000 $324,565
5-6% 2 $30,000 $15,000
6-7% 1 $425,000 $425,000

During 2021, First Alliance Home Mortgage 's average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were 3-4%, with 942 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,143 $341,735,000 $298,981 $6,449 3.02%
$400k-600k 564 $269,680,000 $478,156 $8,361 2.93%
$100k-200k 367 $58,335,000 $158,951 $4,751 3.09%
$600k-1MM 81 $57,475,000 $709,568 $12,116 2.98%
$100,000 or less 38 $2,830,000 $74,474 $3,873 3.34%
$1MM+ 4 $5,000,000 $1,250,000 $9,213 3.16%

2021 saw First Alliance Home Mortgage place emphasis on $200k-400k loans with 1,143 originations, totaling $341,735,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 539 $194,085,000 $360,083 $6,992 3.00%
$75k-100k 437 $149,545,000 $342,208 $8,292 3.07%
$150k-250k 397 $151,165,000 $380,768 $5,618 2.92%
$50k-75k 385 $100,025,000 $259,805 $7,249 3.11%
$50k or less 222 $44,320,000 $199,640 $6,335 3.00%
$250k+ 213 $94,805,000 $445,094 $5,410 2.94%

First Alliance Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 539 originations. The second most popular income band? $75k-100k, with 437 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 375 $125,825,000 $335,533 $4,945 2.87%
30-36% 321 $100,515,000 $313,131 $5,768 2.98%
50-60% 180 $64,440,000 $358,000 $12,468 3.07%
<20% 134 $46,390,000 $346,194 $5,669 2.80%
44% 104 $34,420,000 $330,962 $7,305 3.25%
48% 100 $34,860,000 $348,600 $7,264 3.00%
43% 97 $31,765,000 $327,474 $6,803 3.13%
42% 94 $29,060,000 $309,149 $6,982 3.09%
39% 89 $30,135,000 $338,596 $6,073 3.09%
49% 88 $29,490,000 $335,114 $7,653 3.09%
40% 86 $29,320,000 $340,930 $6,586 3.07%
45% 85 $29,495,000 $347,000 $8,349 3.14%
46% 84 $28,580,000 $340,238 $7,077 3.01%
47% 82 $27,640,000 $337,073 $8,244 3.17%
36% 75 $23,085,000 $307,800 $5,797 2.95%
37% 73 $23,745,000 $325,274 $5,597 2.99%
41% 68 $23,990,000 $352,794 $6,326 3.03%
38% 58 $20,780,000 $358,276 $7,180 3.05%
>60% 4 $1,520,000 $380,000 $8,274 3.28%

First Alliance Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 375 originations. The next most common DTI ratio? 30-36%, with 321 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,274 $426,710,000 $334,937 $7,793 3.07%
Asian 677 $230,055,000 $339,815 $4,416 2.83%
Black 172 $51,380,000 $298,721 $9,025 3.27%
Not provided 65 $23,815,000 $366,385 $7,052 3.04%
American Indian 8 $2,370,000 $296,250 $6,519 2.98%
Native Hawaiian 1 $725,000 $725,000 $14,724 3.13%

Approval Rates

Total approvals of all applications
94.35%

First Alliance Home Mortgage has an average approval rate.

Pick Rate

Approvals leading to origination
52.62%

First Alliance Home Mortgage 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
NA 2,197 $735,055,000 $334,572

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,197 $735,055,000 $334,572

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 78 $19,730,000 $252,949 $4,455 2.76%
40-60% 344 $110,880,000 $322,326 $4,659 2.76%
60-80% 893 $299,105,000 $334,944 $5,620 3.05%
80-100% 874 $304,010,000 $347,838 $9,134 3.09%
Over 100% 3 $1,155,000 $385,000 $12,642 3.17%
Under 20% 5 $175,000 $35,000 $1,062 3.65%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST ALLIANCE HOME MORTGAGE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%