Liberty First Mortgage Rates, Fees & Info

Lincoln, NE

LEI: 549300IPZIRQSNKHX741

Tax ID: 47-0116167

5 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Liberty First is a smaller mortgage company specializing in Refi and Home Purchase loans. Liberty First has a high proportion of conventional 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 include Lincoln, Omaha, Beatrice, Grand Island, and Norfolk among others. Liberty First 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. Liberty First is typically a low fee lendor.


Originations

1,226

Origination Dollar Volume (All Markets)

$217,770,000
Show all (14) awards

Relative Rate

Liberty First's average 30 year fixed rate mortgage of loans were 2.9%.

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

This yields a difference of -0.25%.

Relative Fees

Liberty First's average total fees for a 30 year fixed rate mortgage are $2,326.

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
LINCOLN, NE (FHA|USDA|VA) 1,064 $189,020,000 $177,650 $1,891 2.93%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 83 $16,305,000 $196,446 $2,697 3.05%
Outside of Metro Areas 48 $7,090,000 $147,708 $2,105 3.00%
Beatrice, NE (FHA|USDA|VA) 20 $3,560,000 $178,000 $1,920 2.85%
GRAND ISLAND, NE (FHA|USDA|VA) 4 $730,000 $182,500 $2,200 2.81%
Norfolk, NE (FHA|USDA|VA) 3 $435,000 $145,000 $1,838 3.83%
Scottsbluff, NE (FHA|USDA|VA) 2 $390,000 $195,000 $2,759 2.67%
North Platte, NE (FHA|USDA|VA) 1 $125,000 $125,000 $2,547 2.25%
Columbus, NE (FHA|USDA|VA) 1 $115,000 $115,000 $1,181 2.25%

Liberty First's top markets include Lincoln, Omaha, Beatrice, Grand Island, and Norfolk among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,107 $190,775,000 $172,335 $1,657 3.01%
VA 59 $15,305,000 $259,407 $3,902 2.22%
FHA 51 $10,195,000 $199,902 $5,342 2.41%
USDA 9 $1,495,000 $166,111 $3,147 2.29%

For the 2021 period, Liberty First's most frequently originated loan type of loans were Conventional, with 1,107 originations. Their 2nd most popular type is VA, with 59 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 631 $107,085,000 $169,707 $1,753 2.74%
Home Purchase 404 $86,280,000 $213,564 $2,736 2.96%
Cash Out Refi 148 $16,530,000 $111,689 $1,277 3.80%
Other 37 $7,195,000 $194,459 $2,098 2.64%
Home Improvement 6 $680,000 $113,333 $1,775 3.77%

For the 2021, Liberty First's most frequently cited loan purpose of loans were Refi, with 631 originations. The 2nd most popular reason of loans were Home Purchase, with 404 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 784 $159,580,000 $203,546 $2,326 2.90%
15 Year 231 $35,845,000 $155,173 $1,644 2.52%
20 Year 80 $13,560,000 $169,500 $1,448 3.13%
10 Year 74 $5,360,000 $72,432 $857 3.44%
5 Year 46 $1,450,000 $31,522 $426 4.55%
Other 10 $1,490,000 $149,000 $1,735 3.45%
30+ year 1 $485,000 $485,000 $0 3.25%

For the 2021, Liberty First's most frequently cited loan length of loans were 30 Year, with 784 originations. The 2nd most popular length of loans were 15 Year, with 231 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,026 $178,530,000 $174,006
$1k-2k 159 $26,815,000 $168,648
$2k-3k 30 $7,960,000 $265,333
$3k-4k 7 $2,795,000 $399,286
$5k+ 3 $1,635,000 $545,000

$2,326 of loans were Liberty First's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,026 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 468 $86,890,000 $185,662
<2.5% 414 $77,160,000 $186,377
3-4% 242 $42,760,000 $176,694
4-5% 69 $9,155,000 $132,681
5-6% 16 $1,180,000 $73,750
6-7% 9 $315,000 $35,000
Over 8% 8 $310,000 $38,750

During 2021, Liberty First's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 468 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 591 $87,875,000 $148,689 $1,931 2.82%
$200k-400k 371 $96,485,000 $260,067 $2,508 2.80%
$100,000 or less 223 $13,705,000 $61,457 $998 3.55%
$400k-600k 40 $18,580,000 $464,500 $2,693 2.80%
$1MM+ 1 $1,125,000 $1,125,000 $0 2.88%

2021 saw Liberty First place emphasis on $100k-200k loans with 591 originations, totaling $87,875,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 319 $49,265,000 $154,436 $1,962 2.93%
$100k-150k 306 $66,540,000 $217,451 $2,009 3.03%
$75k-100k 246 $44,170,000 $179,553 $2,014 3.01%
$50k or less 240 $30,430,000 $126,792 $1,919 2.82%
$150k-250k 85 $19,845,000 $233,471 $1,627 3.00%
$250k+ 7 $2,655,000 $379,286 $1,376 3.09%

Liberty First lent most frequently to those with incomes in the $50k-75k range, with 319 originations. The second most popular income band? $100k-150k, with 306 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 248 $40,200,000 $162,097 $1,941 3.00%
20-30% 247 $43,715,000 $176,984 $1,689 2.75%
<20% 82 $12,060,000 $147,073 $1,513 2.62%
50-60% 60 $11,980,000 $199,667 $3,307 3.45%
42% 59 $9,985,000 $169,237 $1,958 3.01%
41% 52 $9,380,000 $180,385 $1,856 3.31%
44% 50 $10,510,000 $210,200 $2,360 3.25%
43% 47 $9,305,000 $197,979 $2,116 3.02%
36% 47 $9,615,000 $204,574 $2,159 3.01%
38% 41 $6,965,000 $169,878 $1,671 2.93%
39% 40 $6,120,000 $153,000 $1,795 2.95%
37% 39 $7,005,000 $179,615 $1,680 2.97%
40% 34 $6,890,000 $202,647 $2,018 2.67%
49% 34 $5,870,000 $172,647 $2,212 3.11%
45% 32 $5,990,000 $187,188 $2,727 2.93%
47% 32 $5,720,000 $178,750 $2,518 2.93%
46% 31 $6,485,000 $209,194 $1,975 2.97%
48% 30 $5,850,000 $195,000 $1,805 2.91%
>60% 3 $565,000 $188,333 $2,578 3.75%

Liberty First lent most frequently to those with DTI ratios of 30-36%, with 248 originations. The next most common DTI ratio? 20-30%, with 247 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,038 $184,440,000 $177,688 $1,956 2.94%
Not provided 119 $20,125,000 $169,118 $1,898 2.89%
Black 26 $6,080,000 $233,846 $2,284 3.21%
Asian 25 $4,165,000 $166,600 $1,622 2.91%
American Indian 14 $2,280,000 $162,857 $2,225 2.92%
Other Asian 1 $225,000 $225,000 $0 3.25%
Vietnamese 1 $215,000 $215,000 $1,964 2.85%
Japanese 1 $185,000 $185,000 $2,586 2.75%
Native Hawaiian 1 $55,000 $55,000 $0 3.00%

Approval Rates

Total approvals of all applications
96.34%

Liberty First 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
79.93%

Liberty First has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,226 $217,770,000 $177,626

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,226 $217,770,000 $177,626

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 67 $5,635,000 $84,104 $1,019 3.47%
40-60% 160 $22,730,000 $142,063 $1,629 2.58%
60-80% 485 $87,895,000 $181,227 $1,748 2.82%
80-100% 434 $97,520,000 $224,700 $2,788 2.93%
Over 100% 6 $1,450,000 $241,667 $9,818 2.46%
Under 20% 73 $2,375,000 $32,534 $435 4.24%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Liberty Finance Co., Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%