First Alliance Home Mortgage Rates, Fees & Info
Cranford, NJLEI: 549300H12E7AUMUHP294
Tax ID: 20-1792214
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Mortgage Data
Review & Overview
First Alliance Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. First Alliance Home Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Philadelphia, Miami, Harrisburg, and York among others. We have data for 85 markets. (Some data included below & more in-depth data is available with an active subscription.)First Alliance Home Mortgage 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 Alliance Home Mortgage is typically a high 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) | 6.85% | 4/28/24 |
| 30 Year Conventional Purchase | 6.93% | 4/28/24 |
| 30 Year Conventional Refi | 6.77% | 4/28/24 |
| 30 Year FHA Purchase | 7.51% | 4/28/24 |
| 30 Year FHA Refi | 7.34% | 4/28/24 |
| 30 Year VA Purchase | 6.67% | 4/28/24 |
| 30 Year VA Refi | 7.02% | 4/28/24 |
| 30 Year USDA Purchase | 7.13% | 4/28/24 |
| 30 Year USDA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.65% | 4/28/24 |
| 15 Year Conventional Refi | 5.74% | 4/28/24 |
| 15 Year Cash-out Refi | 5.74% | 4/28/24 |
| 15 Year FHA Refi | 5.68% | 4/28/24 |
| 15 Year VA Refi | 5.68% | 4/28/24 |
| 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 Alliance Home Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,042Origination Dollar Volume (All Markets)
$323,730,000Awards
FIRST ALLIANCE HOME MORTGAGE - 2022
FIRST ALLIANCE HOME MORTGAGE is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 329 | $136,015,000 | $413,419 | $13,538 | 5.07% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 119 | $32,555,000 | $273,571 | $7,966 | 4.96% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 68 | $23,270,000 | $342,206 | $10,878 | 5.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 87 | $19,215,000 | $220,862 | $8,988 | 5.54% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 76 | $15,150,000 | $199,342 | $8,594 | 5.23% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 26 | $8,630,000 | $331,923 | $4,024 | 4.05% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 19 | $8,295,000 | $436,579 | $13,361 | 3.42% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 21 | $5,915,000 | $281,667 | $9,403 | 4.94% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 16 | $5,170,000 | $323,125 | $8,560 | 4.70% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 20 | $4,880,000 | $244,000 | $9,237 | 5.68% |
| READING, PA (FHA|USDA|VA) | 24 | $4,810,000 | $200,417 | $8,718 | 5.47% |
| PITTSBURGH, PA (FHA|USDA|VA) | 18 | $4,290,000 | $238,333 | $6,413 | 5.53% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5 | $2,555,000 | $511,000 | $5,835 | 3.38% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 6 | $2,240,000 | $373,333 | $3,395 | 3.54% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 7 | $2,175,000 | $310,714 | $13,666 | 5.41% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 9 | $2,045,000 | $227,222 | $4,537 | 4.35% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 8 | $1,870,000 | $233,750 | $10,727 | 4.47% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $1,770,000 | $442,500 | $4,810 | 3.31% |
| GETTYSBURG, PA (FHA|USDA|VA) | 8 | $1,740,000 | $217,500 | $8,719 | 5.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $1,725,000 | $345,000 | $11,671 | 5.78% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 5 | $1,705,000 | $341,000 | $10,853 | 4.58% |
| Pottsville, PA (FHA|USDA|VA) | 12 | $1,600,000 | $133,333 | $6,955 | 5.53% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $1,555,000 | $311,000 | $12,577 | 5.03% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 5 | $1,525,000 | $305,000 | $3,689 | 3.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $12,670 | 5.80% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,370,000 | $228,333 | $7,131 | 5.29% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 6 | $1,330,000 | $221,667 | $10,873 | 5.40% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 7 | $1,325,000 | $189,286 | $12,203 | 6.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $3,818 | 4.40% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $14,165 | 6.63% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $4,997 | 4.13% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $1,040,000 | $173,333 | $6,388 | 4.37% |
| LEBANON, PA (FHA|USDA|VA) | 7 | $1,035,000 | $147,857 | $6,321 | 5.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $5,641 | 3.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $11,709 | 5.63% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $4,598 | 3.75% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $10,206 | 5.28% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 6 | $910,000 | $151,667 | $8,482 | 5.63% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $4,781 | 6.24% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $7,026 | 4.59% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $6,408 | 5.03% |
| LANCASTER, PA (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $7,089 | 5.26% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $6,697 | 4.75% |
| Outside of Metro Areas | 3 | $655,000 | $218,333 | $9,436 | 6.33% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $6,680 | 4.63% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $4,483 | 4.94% |
| Jefferson, GA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $5,653 | 3.63% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $3,984 | 4.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $6,596 | 4.38% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $12,207 | 6.13% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $7,775 | 6.06% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,742 | 6.25% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $15,211 | 3.88% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $11,252 | 6.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,775 | 2.56% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,407 | 5.37% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,347 | 4.44% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,672 | 4.69% |
| Coos Bay, OR (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 7.03% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 7.06% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,279 | 4.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $5,160 | 3.12% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $15,720 | 7.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,900 | 5.63% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,549 | 3.75% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,577 | 3.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,333 | 5.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.83% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $14,903 | 6.13% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.10% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $17,829 | 5.63% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $13,854 | 5.75% |
| Astoria, OR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 7.26% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $16,512 | 5.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,817 | 5.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $13,179 | 5.63% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $12,123 | 7.13% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $12,256 | 7.63% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,731 | 6.75% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,688 | 6.13% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $10,657 | 5.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $9,509 | 5.75% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $11,340 | 5.75% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 7.16% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.82% |
Their top states include:
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Product Mix
For 2022, First Alliance Home Mortgage's most frequently originated type of loan was Conventional, with 692 originations. Their 2nd most popular type was FHA, with 291 originations.
Loan Reason
For 2022, First Alliance Home Mortgage's most frequently cited loan purpose was Home Purchase, with 826 originations. The 2nd most popular reason was Refi, with 196 originations.
Loan Duration/Length
For 2022, First Alliance Home Mortgage's most frequently cited loan duration was 30 Year, with 972 originations. The 2nd most popular length was Other, with 34 originations.
Origination Fees/Closing Costs
First Alliance Home Mortgage's average total fees were $10,330, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 392 originations.
Interest Rates
During 2022, First Alliance Home Mortgage's average interest rate for loans was 5.12%, while their most frequently originated rate bucket for loans was 5-6%, with 356 originations.
Loan Sizing
2022 saw First Alliance Home Mortgage place emphasis on $200k-400k loans with 487 originations, totaling $144,525,000 in origination value.
Applicant Income
First Alliance Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 256 originations. The second most popular income band? $50k-75k, with 233 originations.
Applicant Debt to Income Ratio
First Alliance Home Mortgage lent most frequently to those with DTI ratios of 30-36%, with 148 originations. The next most common DTI ratio? 50-60%, with 132 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.93%
First Alliance Home Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination31.09%
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 | 1,042 | $323,730,000 | $310,681 |
LTV Distribution
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% |