First Shore Federal Savings And Loan Association Mortgage Rates, Fees & Info

Salisbury, MD

LEI: 549300HJP2WLL8KDCA15

Tax ID: 52-0633253

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First Shore Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase loans. First Shore Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Salisbury, Dover, and Cambridge among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Shore Federal Savings And Loan Association 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

284

Origination Dollar Volume (All Markets)

$46,380,000

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
SALISBURY, MD-DE (FHA\|USDA\|VA)	261	$42,065,000	$161,169	$0	0.00%
DOVER, DE (FHA\|USDA\|VA)	13	$2,975,000	$228,846	$0	0.00%
Outside of Metro Areas	5	$825,000	$165,000	$0	0.00%
Cambridge, MD (FHA\|USDA\|VA)	5	$515,000	$103,000	$0	0.00%

First Shore Federal Savings And Loan Association's top markets include Salisbury, Dover, and Cambridge among others.

Their top states include:

Delaware (FHA|USDA|VA)

Maryland (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	284	$46,380,000	$163,310	$0	0.00%

For 2022, First Shore Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 284 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	207	$36,985,000	$178,671	$0	0.00%
Refi	48	$7,030,000	$146,458	$0	0.00%
Home Improvement	18	$1,590,000	$88,333	$0	0.00%
Other	11	$775,000	$70,455	$0	0.00%

For 2022, First Shore Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 207 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	284	$46,380,000	$163,310	$0	0.00%

For 2022, First Shore Federal Savings And Loan Association's most frequently cited loan duration was Other, with 284 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	122	$7,680,000	$62,951	$0	0.00%
$100k-200k	106	$15,190,000	$143,302	$0	0.00%
$200k-400k	38	$9,990,000	$262,895	$0	0.00%
$600k-1MM	8	$6,140,000	$767,500	$0	0.00%
$400k-600k	7	$3,355,000	$479,286	$0	0.00%
$1MM+	3	$4,025,000	$1,341,667	$0	0.00%

2022 saw First Shore Federal Savings And Loan Association place emphasis on $100,000 or less loans with 122 originations, totaling $7,680,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	59	$6,395,000	$108,390	$0	0.00%
$150k-250k	54	$10,550,000	$195,370	$0	0.00%
$100k-150k	53	$8,205,000	$154,811	$0	0.00%
$75k-100k	50	$5,750,000	$115,000	$0	0.00%
$50k or less	38	$2,880,000	$75,789	$0	0.00%
$250k+	30	$12,600,000	$420,000	$0	0.00%

First Shore Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 59 originations. The second most popular income band? $150k-250k, with 54 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	284	$46,380,000	$163,310	$0	0.00%

First Shore Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 284 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	253	$40,155,000	$158,715	$0	0.00%
Not provided	18	$3,780,000	$210,000	$0	0.00%
Black	11	$1,725,000	$156,818	$0	0.00%
Asian	1	$575,000	$575,000	$0	0.00%
American Indian	1	$145,000	$145,000	$0	0.00%

Approval Rates

Total approvals of all applications
83.83%

First Shore Federal Savings And Loan Association has a below average approval rate.

Pick Rate

Approvals leading to origination
80.28%

First Shore Federal Savings And Loan Association has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	284	$46,380,000	$163,310

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	284	$46,380,000	$163,310

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%