1st Preference Mortgage Corp. Rates, Fees & Info
TOWSON, MDLEI: 549300OO44FL6BHIUV48
Tax ID: 52-1720545
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Mortgage Data
Review & Overview
1st Preference Mortgage Corp. is a smaller mortgage company specializing in Home Purchase and Refi loans. 1st Preference Mortgage Corp. has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Baltimore, Atlanta, San Antonio, and California among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)1st Preference Mortgage Corp. 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. 1st Preference Mortgage Corp. 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 about average rates.
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Originations
651Origination Dollar Volume (All Markets)
$207,275,000Awards
1ST PREFERENCE MORTGAGE CORP. - 2021
1ST PREFERENCE MORTGAGE CORP. is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 254 | $98,430,000 | $387,520 | $10,374 | 3.07% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 205 | $60,215,000 | $293,732 | $7,241 | 3.09% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 29 | $7,345,000 | $253,276 | $7,378 | 3.44% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 25 | $5,875,000 | $235,000 | $9,487 | 3.36% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 11 | $4,035,000 | $366,818 | $7,301 | 3.05% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 15 | $2,835,000 | $189,000 | $7,481 | 3.23% |
| LANCASTER, PA (FHA|USDA|VA) | 9 | $2,495,000 | $277,222 | $8,745 | 3.15% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 9 | $2,415,000 | $268,333 | $6,024 | 2.94% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 12 | $2,290,000 | $190,833 | $7,557 | 3.29% |
| COLUMBIA, SC (FHA|USDA|VA) | 12 | $2,240,000 | $186,667 | $5,212 | 3.26% |
| Outside of Metro Areas | 9 | $2,065,000 | $229,444 | $6,688 | 3.17% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 7 | $1,745,000 | $249,286 | $5,835 | 3.05% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $1,250,000 | $625,000 | $10,878 | 3.06% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $8,368 | 3.44% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $6,790 | 3.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $4,962 | 3.04% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $8,776 | 3.25% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $10,811 | 3.04% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $7,410 | 3.13% |
| LEBANON, PA (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $5,666 | 3.42% |
| GETTYSBURG, PA (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $7,021 | 3.21% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,870 | 2.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $7,672 | 2.88% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $7,057 | 3.79% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $17,043 | 2.50% |
| WACO, TX (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $4,050 | 3.46% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,882 | 2.69% |
| Newberry, SC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,124 | 3.25% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,961 | 2.75% |
| Easton, MD (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,318 | 3.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,867 | 3.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,531 | 2.63% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,531 | 3.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,933 | 3.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,361 | 3.75% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,470 | 2.88% |
| READING, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,480 | 3.25% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,132 | 3.00% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,172 | 2.63% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,249 | 3.25% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,847 | 2.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,788 | 3.88% |
| DOVER, DE (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,094 | 3.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against 1ST PREFERENCE MORTGAGE CORP. 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
For 2021, 1st Preference Mortgage Corp.'s most frequently originated type of loan was Conventional, with 356 originations. Their 2nd most popular type was FHA, with 220 originations.
Loan Reason
For 2021, 1st Preference Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 362 originations. The 2nd most popular reason was Refi, with 181 originations.
Loan Duration/Length
For 2021, 1st Preference Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 612 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
1st Preference Mortgage Corp.'s average total fees were $8,671, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 171 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 300 | $91,790,000 | $305,967 |
| 2.5-3% | 282 | $93,680,000 | $332,199 |
| <2.5% | 47 | $15,435,000 | $328,404 |
| 4-5% | 22 | $6,370,000 | $289,545 |
During 2021, 1st Preference Mortgage Corp.'s average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 3-4%, with 300 originations.
Loan Sizing
2021 saw 1st Preference Mortgage Corp. place emphasis on $200k-400k loans with 383 originations, totaling $111,055,000 in origination value.
Applicant Income
1st Preference Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 163 originations. The second most popular income band? $75k-100k, with 153 originations.
Applicant Debt to Income Ratio
1st Preference Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 117 originations. The next most common DTI ratio? 20-30%, with 103 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.89%
1st Preference Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.48%
1st Preference Mortgage Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 651 | $207,275,000 | $318,395 |