First Community Mortgage Rates, Fees & Info

Coquille, OR

LEI: 549300L44U62O7WHRR78

Tax ID: 93-0468003

5 stars - Updated: 5/26/24 - out of 5 stars, based on 26 reviews

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

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Mortgage Data

Review & Overview

First Community is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. First Community has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Coos Bay, Hermiston, Grants Pass, and Bend among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Community 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. First Community is typically an average 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.32% 5/26/24
30 Year Conventional Refi 6.16% 5/26/24
30 Year Cash-out Refi 6.38% 5/26/24
15 Year Conventional Purchase 5.16% 5/26/24
15 Year Conventional Refi 5.61% 5/26/24
15 Year Cash-out Refi 5.61% 5/26/24
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 Community Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Community. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

655

Origination Dollar Volume (All Markets)

$75,925,000

Awards

FIRST COMMUNITY 30 Year Conventional Loans gold FIRST COMMUNITY 30 Year Conventional Loans silver FIRST COMMUNITY 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

First Community's average 30 year fixed mortgage rate was 6.62%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.14%.

Relative Fees (Closing Costs)

First Community's average total fees/closing costs for a 30 year fixed rate mortgage were $5,488.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 136 $18,680,000 $137,353 $7,478 6.26%
Coos Bay, OR (FHA|USDA|VA) 120 $13,240,000 $110,333 $5,346 6.39%
Hermiston-Pendleton, OR (FHA|USDA|VA) 71 $7,065,000 $99,507 $4,934 6.54%
GRANTS PASS, OR (FHA|USDA|VA) 68 $6,880,000 $101,176 $4,040 6.33%
BEND, OR (FHA|USDA|VA) 38 $6,030,000 $158,684 $4,803 6.20%
Roseburg, OR (FHA|USDA|VA) 41 $4,035,000 $98,415 $6,814 6.23%
Klamath Falls, OR (FHA|USDA|VA) 37 $4,015,000 $108,514 $4,094 6.49%
MEDFORD, OR (FHA|USDA|VA) 34 $3,650,000 $107,353 $4,239 6.38%
Outside of Metro Areas 22 $3,510,000 $159,545 $5,330 6.45%
SALEM, OR (FHA|USDA|VA) 26 $2,790,000 $107,308 $0 6.28%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 37 $2,425,000 $65,541 $2,649 6.27%
Prineville, OR (FHA|USDA|VA) 5 $815,000 $163,000 $6,692 5.93%
Newport, OR (FHA|USDA|VA) 3 $605,000 $201,667 $6,500 6.79%
La Grande, OR (FHA|USDA|VA) 1 $385,000 $385,000 $0 6.75%
WALLA WALLA, WA (FHA|USDA|VA) 3 $325,000 $108,333 $2,775 5.88%
The Dalles, OR (FHA|USDA|VA) 3 $305,000 $101,667 $0 6.25%
Brookings, OR (FHA|USDA|VA) 3 $285,000 $95,000 $0 6.00%
CHICO, CA (FHA|USDA|VA) 1 $275,000 $275,000 $3,477 7.00%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $165,000 $165,000 $3,035 6.50%
ALBANY-LEBANON, OR (FHA|USDA|VA) 2 $160,000 $80,000 $2,805 6.00%
CORVALLIS, OR (FHA|USDA|VA) 1 $155,000 $155,000 $0 6.00%
Aberdeen, WA (FHA|USDA|VA) 1 $105,000 $105,000 $3,768 6.13%
Astoria, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.25%
First Community's top markets include Portland, Coos Bay, Hermiston, Grants Pass, and Bend among others.

Their top states include:
  • Oregon (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SELCO COMMUNITY
    Similarity Rank: 198
    INROADS
    Similarity Rank: 238
    Clackamas Federal Credit Union
    Similarity Rank: 776
    COLUMBIA COMMUNITY CREDIT UNION
    Similarity Rank: 988
    MOUNTAIN WEST FINANCIAL, INC.
    Similarity Rank: 1200
    FIBRE FEDERAL CREDIT UNION
    Similarity Rank: 1281
    ADVANTIS
    Similarity Rank: 1288

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 562 $48,670,000 $86,601 n/a 6.32%
    Conventional 93 $27,255,000 $293,065 $5,310 6.51%

    For 2023, First Community's most frequently originated type of loan was HELOC, with 562 originations. Their 2nd most popular type was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 290 $19,410,000 $66,931 $0 6.34%
    Other 164 $13,860,000 $84,512 $0 6.33%
    Home Purchase 103 $28,485,000 $276,553 $5,591 6.41%
    Cash Out Refi 72 $11,500,000 $159,722 $4,673 6.36%
    Refi 26 $2,670,000 $102,692 $3,243 6.19%

    For 2023, First Community's most frequently cited loan purpose was Home Improvement, with 290 originations. The 2nd most popular reason was Other, with 164 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 566 $49,540,000 $87,527 $2,673 6.32%
    30 Year 68 $21,410,000 $314,853 $5,488 6.62%
    15 Year 12 $2,120,000 $176,667 $4,656 5.85%
    20 Year 4 $910,000 $227,500 $5,476 6.38%
    30+ year 4 $1,890,000 $472,500 $8,146 6.34%
    10 Year 1 $55,000 $55,000 $1,965 7.00%

    For 2023, First Community's most frequently cited loan duration was Other, with 566 originations. The 2nd most popular length was 30 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 40 $11,310,000 $282,750
    $1k-2k 19 $3,035,000 $159,737
    $5k+ 10 $4,650,000 $465,000
    $2k-3k 9 $2,525,000 $280,556
    $3k-4k 7 $2,395,000 $342,143
    $4k-5k 6 $2,830,000 $471,667

    First Community's average total fees were $5,488, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 332 $40,350,000 $121,536
    5-6% 239 $25,215,000 $105,502
    7-8% 72 $8,340,000 $115,833
    Over 8% 9 $1,375,000 $152,778
    4-5% 2 $590,000 $295,000
    3-4% 1 $55,000 $55,000

    During 2023, First Community's average interest rate for loans was 6.62%, while their most frequently originated rate bucket for loans was 6-7%, with 332 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 419 $21,195,000 $50,585 $2,732 6.37%
    $100k-200k 126 $16,840,000 $133,651 $4,208 6.18%
    $200k-400k 88 $25,160,000 $285,909 $4,977 6.43%
    $400k-600k 14 $6,880,000 $491,429 $7,963 6.44%
    $600k-1MM 7 $4,735,000 $676,429 $10,246 6.59%
    $1MM+ 1 $1,115,000 $1,115,000 $8,845 6.25%

    2023 saw First Community place emphasis on $100,000 or less loans with 419 originations, totaling $21,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 194 $22,400,000 $115,464 $5,653 6.34%
    $150k-250k 120 $17,060,000 $142,167 $5,282 6.48%
    $75k-100k 119 $11,545,000 $97,017 $5,059 6.39%
    $50k-75k 110 $9,630,000 $87,545 $4,290 6.26%
    $50k or less 72 $4,690,000 $65,139 $2,647 6.03%
    $250k+ 38 $10,090,000 $265,526 $8,175 6.60%

    First Community lent most frequently to those with incomes in the $100k-150k range, with 194 originations. The second most popular income band? $150k-250k, with 120 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 184 $18,270,000 $99,293 $5,412 6.31%
    30-36% 134 $14,490,000 $108,134 $5,842 6.37%
    <20% 132 $13,070,000 $99,015 $3,731 6.14%
    38% 22 $3,410,000 $155,000 $5,258 6.47%
    40% 21 $2,985,000 $142,143 $6,211 6.72%
    39% 21 $3,655,000 $174,048 $6,670 6.10%
    36% 20 $1,910,000 $95,500 $4,965 6.56%
    37% 17 $1,585,000 $93,235 $4,574 6.40%
    46% 13 $1,235,000 $95,000 $2,301 6.88%
    43% 13 $1,875,000 $144,231 $5,561 6.28%
    44% 13 $3,615,000 $278,077 $5,764 6.50%
    41% 12 $1,420,000 $118,333 $5,040 6.41%
    50-60% 12 $1,350,000 $112,500 $0 6.52%
    42% 10 $1,800,000 $180,000 $3,061 6.48%
    48% 8 $710,000 $88,750 $3,111 6.63%
    45% 7 $1,945,000 $277,857 $11,650 6.59%
    47% 6 $1,310,000 $218,333 $11,535 6.42%
    49% 5 $485,000 $97,000 $0 6.35%
    >60% 3 $295,000 $98,333 $0 6.67%

    First Community lent most frequently to those with DTI ratios of 20-30%, with 184 originations. The next most common DTI ratio? 30-36%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 617 $67,715,000 $109,749 $5,059 6.33%
    American Indian 13 $2,165,000 $166,538 $6,921 6.50%
    Asian 5 $1,555,000 $311,000 $18,734 6.48%
    Not provided 5 $1,475,000 $295,000 $4,706 6.53%
    Asian Indian 1 $1,115,000 $1,115,000 $8,845 6.25%
    Not applicable 2 $510,000 $255,000 $0 7.06%
    Native Hawaiian or Islander 2 $430,000 $215,000 $4,282 6.31%
    Other Asian 1 $355,000 $355,000 $0 6.75%
    Black 4 $350,000 $87,500 $0 6.13%
    Japanese 1 $75,000 $75,000 $0 6.00%
    Filipino 2 $70,000 $35,000 $0 6.88%
    Native Hawaiian 1 $55,000 $55,000 $0 6.50%
    Vietnamese 1 $55,000 $55,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    84.72%

    First Community has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    58.17%

    First Community 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 655 $75,925,000 $115,916

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    655 $75,925,000 $115,916

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 125 $15,525,000 $124,200 $3,783 6.18%
    40-60% 62 $14,920,000 $240,645 $5,484 6.18%
    60-80% 47 $14,625,000 $311,170 $5,985 6.72%
    80-100% 25 $8,755,000 $350,200 $5,090 6.55%
    Under 20% 395 $21,895,000 $55,430 $3,142 6.36%