First Foundation Bank Mortgage Rates, Fees & Info
Irvine, CALEI: 549300M5KSPQD2HH1N54
Tax ID: 32-0211527
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Mortgage Data
Review & Overview
First Foundation Bank is a smaller bank specializing in Refi loans. First Foundation Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Phoenix, San Diego, Sebring, and San Francisco among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)First Foundation Bank 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 Foundation Bank is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.07% | 11/17/24 |
| 30 Year Conventional Refi | 5.76% | 11/17/24 |
| 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 Foundation Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
27Origination Dollar Volume (All Markets)
$49,265,000Relative Rate
First Foundation Bank's average 30 year fixed mortgage rate was
6.3%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.18%.
Relative Fees (Closing Costs)
First Foundation Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,000.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 22 | $38,040,000 | $1,729,091 | $4,000 | 6.04% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $3,125,000 | $3,125,000 | $0 | 4.81% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $0 | 5.90% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $2,625,000 | $2,625,000 | $0 | 6.25% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $2,470,000 | $1,235,000 | $0 | 3.10% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Foundation Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $49,265,000 | $1,824,630 | $4,000 | 5.78% |
For 2023, First Foundation Bank's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 20 | $39,470,000 | $1,973,500 | $4,000 | 6.27% |
| Home Purchase | 7 | $9,795,000 | $1,399,286 | $0 | 4.38% |
For 2023, First Foundation Bank's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2023, First Foundation Bank's most frequently cited loan duration was 30 Year, with 21 originations. The 2nd most popular length was Other, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $3,000,000 | $1,500,000 |
First Foundation Bank's average total fees were $4,000, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
During 2023, First Foundation Bank's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 6-7%, with 13 originations.
Loan Sizing
2023 saw First Foundation Bank place emphasis on $1MM+ loans with 20 originations, totaling $44,420,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.49%
First Foundation Bank has a below average approval rate.
Pick Rate
Approvals leading to origination77.78%
First Foundation Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 27 | $49,265,000 | $1,824,630 |