First Option Mortgage Rates, Fees & Info
Atlanta, GALEI: 549300PFJ7GCGDLB2E65
Tax ID: 68-0570826
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Mortgage Data
Review & Overview
First Option Mortgage is a small mortgage company specializing in loans. First Option Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Indianapolis, Las Vegas, Phoenix, and Baton Rouge among others. We have data for 191 markets. (Some data included below & more in-depth data is available with an active subscription.)First Option Mortgage 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. First Option Mortgage is typically an average fee lender. They typically have about average 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 in 2021-- chances are they are still one in 2022.
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 | 6.12% | 8/6/22 |
| 30 Year Conventional Refi | 5.69% | 8/6/22 |
| 30 Year Cash-out Refi | 5.90% | 8/6/22 |
| 30 Year FHA Purchase | 6.74% | 8/6/22 |
| 30 Year FHA Refi | 6.26% | 8/6/22 |
| 30 Year VA Purchase | 5.70% | 8/6/22 |
| 30 Year VA Refi | 5.16% | 8/6/22 |
| 30 Year USDA Purchase | 6.04% | 8/6/22 |
| 30 Year USDA Refi | 5.82% | 8/6/22 |
| 15 Year Conventional Purchase | 4.94% | 8/6/22 |
| 15 Year Conventional Refi | 4.61% | 8/6/22 |
| 15 Year Cash-out Refi | 4.61% | 8/6/22 |
| 15 Year FHA Purchase | 4.26% | 8/6/22 |
| 15 Year FHA Refi | 4.26% | 8/6/22 |
| 15 Year VA Purchase | 5.20% | 8/6/22 |
| 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. | ||
Originations
5,047Origination Dollar Volume (All Markets)
$1,236,295,000Awards
First Option Mortgage - 2021
First Option Mortgage is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
First Option Mortgage 's average 30 year fixed rate mortgage of loans were
3.34%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.19%.
Relative Fees
First Option Mortgage 's average total fees for a 30 year fixed rate
mortgage are $6,252.
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
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 |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) » | 1,645 | $430,475,000 | $261,687 | $6,253 | 3.42% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) » | 417 | $101,265,000 | $242,842 | $5,699 | 3.27% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) » | 311 | $89,635,000 | $288,215 | $6,157 | 3.10% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) » | 216 | $69,080,000 | $319,815 | $6,496 | 3.27% |
| BATON ROUGE, LA (FHA|USDA|VA) » | 216 | $51,360,000 | $237,778 | $5,487 | 3.20% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) » | 195 | $44,235,000 | $226,846 | $6,650 | 3.05% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) » | 316 | $43,260,000 | $136,899 | $4,804 | 3.24% |
| London, KY (FHA|USDA|VA) » | 227 | $37,185,000 | $163,811 | $5,065 | 3.23% |
| JACKSONVILLE, FL (FHA|USDA|VA) » | 129 | $34,315,000 | $266,008 | $5,669 | 3.11% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) » | 99 | $32,265,000 | $325,909 | $8,601 | 3.32% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) » | 77 | $26,925,000 | $349,675 | $7,098 | 3.33% |
| Outside of Metro Areas | 122 | $21,490,000 | $176,148 | $5,466 | 3.27% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) » | 66 | $19,950,000 | $302,273 | $7,748 | 3.34% |
| GAINESVILLE, GA (FHA|USDA|VA) » | 55 | $15,105,000 | $274,636 | $6,361 | 3.44% |
| HUNTSVILLE, AL (FHA|USDA|VA) » | 71 | $14,605,000 | $205,704 | $5,541 | 3.09% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) » | 59 | $13,945,000 | $236,356 | $6,811 | 3.30% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) » | 45 | $12,825,000 | $285,000 | $5,600 | 3.47% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) » | 57 | $10,615,000 | $186,228 | $4,951 | 3.16% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) » | 24 | $10,020,000 | $417,500 | $8,270 | 3.26% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) » | 36 | $9,550,000 | $265,278 | $6,166 | 3.04% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) » | 32 | $8,390,000 | $262,188 | $7,310 | 3.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) » | 19 | $5,965,000 | $313,947 | $7,736 | 3.34% |
| Somerset, KY (FHA|USDA|VA) » | 28 | $5,690,000 | $203,214 | $6,286 | 3.21% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) » | 29 | $5,385,000 | $185,690 | $7,426 | 3.16% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) » | 12 | $4,110,000 | $342,500 | $7,900 | 3.08% |
| LAREDO, TX (FHA|USDA|VA) » | 23 | $4,015,000 | $174,565 | $6,959 | 3.10% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) » | 15 | $3,825,000 | $255,000 | $6,774 | 3.15% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) » | 14 | $3,560,000 | $254,286 | $6,725 | 3.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) » | 17 | $3,495,000 | $205,588 | $5,629 | 3.21% |
| Jefferson, GA (FHA|USDA|VA) » | 14 | $3,460,000 | $247,143 | $5,638 | 3.21% |
| DECATUR, AL (FHA|USDA|VA) » | 28 | $3,370,000 | $120,357 | $4,895 | 2.72% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) » | 9 | $3,025,000 | $336,111 | $4,017 | 3.10% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) » | 9 | $2,905,000 | $322,778 | $8,511 | 3.26% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) » | 5 | $2,665,000 | $533,000 | $10,589 | 2.90% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) » | 9 | $2,355,000 | $261,667 | $4,273 | 3.17% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) » | 10 | $2,330,000 | $233,000 | $4,355 | 3.18% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) » | 11 | $2,245,000 | $204,091 | $6,772 | 3.73% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) » | 7 | $2,225,000 | $317,857 | $5,620 | 3.39% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) » | 10 | $2,160,000 | $216,000 | $6,929 | 3.46% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) » | 10 | $2,040,000 | $204,000 | $5,590 | 3.85% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) » | 4 | $1,960,000 | $490,000 | $7,733 | 3.16% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) » | 6 | $1,880,000 | $313,333 | $8,659 | 3.21% |
| DECATUR, IL (FHA|USDA|VA) » | 14 | $1,800,000 | $128,571 | $5,604 | 3.52% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) » | 10 | $1,730,000 | $173,000 | $5,323 | 3.43% |
| Crawfordsville, IN (FHA|USDA|VA) » | 8 | $1,720,000 | $215,000 | $6,385 | 3.22% |
| SAVANNAH, GA (FHA|USDA|VA) » | 7 | $1,705,000 | $243,571 | $7,304 | 2.82% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) » | 8 | $1,680,000 | $210,000 | $6,920 | 2.44% |
| DALTON, GA (FHA|USDA|VA) » | 9 | $1,625,000 | $180,556 | $6,174 | 2.97% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) » | 3 | $1,455,000 | $485,000 | $8,662 | 3.00% |
| KNOXVILLE, TN (FHA|USDA|VA) » | 4 | $1,450,000 | $362,500 | $5,829 | 3.56% |
| WARNER ROBINS, GA (FHA|USDA|VA) » | 8 | $1,390,000 | $173,750 | $6,379 | 2.69% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) » | 7 | $1,335,000 | $190,714 | $5,087 | 3.36% |
| YORK-HANOVER, PA (FHA|USDA|VA) » | 5 | $1,315,000 | $263,000 | $9,955 | 3.23% |
| MUNCIE, IN (FHA|USDA|VA) » | 10 | $1,270,000 | $127,000 | $4,985 | 3.39% |
| TUCSON, AZ (FHA|USDA|VA) » | 4 | $1,260,000 | $315,000 | $3,934 | 3.47% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) » | 6 | $1,250,000 | $208,333 | $6,465 | 3.48% |
| OCALA, FL (FHA|USDA|VA) » | 6 | $1,240,000 | $206,667 | $6,174 | 3.23% |
| Portsmouth, OH (FHA|USDA|VA) » | 10 | $1,200,000 | $120,000 | $5,682 | 3.28% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) » | 4 | $1,090,000 | $272,500 | $5,416 | 3.22% |
| TALLAHASSEE, FL (FHA|USDA|VA) » | 4 | $1,060,000 | $265,000 | $8,757 | 3.38% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) » | 4 | $1,040,000 | $260,000 | $5,526 | 3.34% |
| PUNTA GORDA, FL (FHA|USDA|VA) » | 4 | $1,010,000 | $252,500 | $3,594 | 2.94% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) » | 3 | $995,000 | $331,667 | $4,818 | 3.33% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) » | 5 | $975,000 | $195,000 | $4,067 | 3.15% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) » | 2 | $920,000 | $460,000 | $9,546 | 4.00% |
| Statesboro, GA (FHA|USDA|VA) » | 4 | $910,000 | $227,500 | $8,499 | 3.28% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) » | 1 | $875,000 | $875,000 | $5,100 | 2.75% |
| TUSCALOOSA, AL (FHA|USDA|VA) » | 3 | $845,000 | $281,667 | $5,730 | 3.54% |
| Richmond-Berea, KY (FHA|USDA|VA) » | 5 | $835,000 | $167,000 | $6,332 | 3.18% |
| Cordele, GA (FHA|USDA|VA) » | 4 | $810,000 | $202,500 | $7,268 | 3.53% |
| PANAMA CITY, FL (FHA|USDA|VA) » | 3 | $805,000 | $268,333 | $4,729 | 3.04% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) » | 6 | $790,000 | $131,667 | $5,347 | 3.18% |
| Pahrump, NV (FHA|USDA|VA) » | 3 | $775,000 | $258,333 | $8,684 | 3.33% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) » | 4 | $760,000 | $190,000 | $6,901 | 3.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) » | 2 | $740,000 | $370,000 | $3,976 | 3.13% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) » | 1 | $725,000 | $725,000 | $7,178 | 3.50% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) » | 3 | $715,000 | $238,333 | $3,775 | 3.08% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) » | 5 | $685,000 | $137,000 | $4,435 | 3.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) » | 3 | $625,000 | $208,333 | $5,387 | 3.21% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) » | 2 | $600,000 | $300,000 | $5,164 | 4.19% |
| BRUNSWICK, GA (FHA|USDA|VA) » | 3 | $595,000 | $198,333 | $5,494 | 2.83% |
| Calhoun, GA (FHA|USDA|VA) » | 3 | $555,000 | $185,000 | $6,842 | 3.33% |
| RALEIGH-CARY, NC (FHA|USDA|VA) » | 1 | $545,000 | $545,000 | $3,176 | 2.88% |
| Middlesborough, KY (FHA|USDA|VA) » | 3 | $545,000 | $181,667 | $4,895 | 3.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) » | 1 | $545,000 | $545,000 | $3,094 | 3.00% |
| ASHEVILLE, NC (FHA|USDA|VA) » | 3 | $525,000 | $175,000 | $6,217 | 3.54% |
| BLOOMINGTON, IN (FHA|USDA|VA) » | 3 | $495,000 | $165,000 | $4,646 | 3.42% |
| STOCKTON, CA (FHA|USDA|VA) » | 2 | $490,000 | $245,000 | $9,421 | 2.13% |
| Cullman, AL (FHA|USDA|VA) » | 2 | $490,000 | $245,000 | $4,532 | 3.31% |
| Key West, FL (FHA|USDA|VA) » | 1 | $485,000 | $485,000 | $4,322 | 3.13% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) » | 1 | $475,000 | $475,000 | $17,031 | 4.38% |
| Show Low, AZ (FHA|USDA|VA) » | 2 | $470,000 | $235,000 | $6,294 | 3.31% |
| PINE BLUFF, AR (FHA|USDA|VA) » | 2 | $460,000 | $230,000 | $3,011 | 3.06% |
| Glasgow, KY (FHA|USDA|VA) » | 4 | $450,000 | $112,500 | $4,505 | 3.22% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) » | 1 | $425,000 | $425,000 | $2,960 | 2.25% |
| Cedartown, GA (FHA|USDA|VA) » | 3 | $425,000 | $141,667 | $4,426 | 3.46% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) » | 2 | $420,000 | $210,000 | $4,488 | 3.38% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) » | 1 | $395,000 | $395,000 | $4,892 | 3.38% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) » | 1 | $395,000 | $395,000 | $5,184 | 3.13% |
| COLUMBUS, IN (FHA|USDA|VA) » | 2 | $390,000 | $195,000 | $3,021 | 2.88% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) » | 1 | $385,000 | $385,000 | $22,629 | 3.50% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) » | 2 | $380,000 | $190,000 | $4,949 | 2.75% |
| HAMMOND, LA (FHA|USDA|VA) » | 1 | $375,000 | $375,000 | $4,635 | 3.50% |
| Toccoa, GA (FHA|USDA|VA) » | 2 | $370,000 | $185,000 | $7,366 | 3.44% |
| ROME, GA (FHA|USDA|VA) » | 2 | $370,000 | $185,000 | $6,927 | 3.50% |
| RICHMOND, VA (FHA|USDA|VA) » | 2 | $370,000 | $185,000 | $5,671 | 3.19% |
| Greensburg, IN (FHA|USDA|VA) » | 1 | $365,000 | $365,000 | $10,109 | 3.38% |
| COLUMBUS, OH (FHA|USDA|VA) » | 1 | $345,000 | $345,000 | $8,927 | 3.88% |
| HATTIESBURG, MS (FHA|USDA|VA) » | 1 | $345,000 | $345,000 | $9,932 | 3.13% |
| EL PASO, TX (FHA|USDA|VA) » | 1 | $335,000 | $335,000 | $5,508 | 3.13% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) » | 1 | $335,000 | $335,000 | $15,431 | 3.50% |
| DANVILLE, IL (FHA|USDA|VA) » | 2 | $320,000 | $160,000 | $7,867 | 3.38% |
| JONESBORO, AR (FHA|USDA|VA) » | 2 | $320,000 | $160,000 | $3,419 | 3.00% |
| ROANOKE, VA (FHA|USDA|VA) » | 1 | $315,000 | $315,000 | $13,310 | 3.88% |
| LaGrange, GA-AL (FHA|USDA|VA) » | 2 | $310,000 | $155,000 | $3,638 | 3.69% |
| Cornelia, GA (FHA|USDA|VA) » | 2 | $310,000 | $155,000 | $3,281 | 3.13% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) » | 1 | $305,000 | $305,000 | $2,641 | 3.50% |
| Cookeville, TN (FHA|USDA|VA) » | 1 | $295,000 | $295,000 | $3,985 | 3.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) » | 3 | $295,000 | $98,333 | $5,096 | 3.54% |
| SPRINGFIELD, MA (FHA|USDA|VA) » | 1 | $295,000 | $295,000 | $9,892 | 3.38% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) » | 1 | $285,000 | $285,000 | $3,570 | 3.50% |
| Thomasville, GA (FHA|USDA|VA) » | 1 | $275,000 | $275,000 | $4,675 | 3.13% |
| COLUMBIA, SC (FHA|USDA|VA) » | 2 | $270,000 | $135,000 | $4,436 | 3.63% |
| Wabash, IN (FHA|USDA|VA) » | 2 | $270,000 | $135,000 | $3,394 | 3.19% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) » | 1 | $265,000 | $265,000 | $6,426 | 2.88% |
| TERRE HAUTE, IN (FHA|USDA|VA) » | 3 | $265,000 | $88,333 | $3,623 | 3.58% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) » | 1 | $265,000 | $265,000 | $5,310 | 3.63% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $3,935 | 2.25% |
| KANKAKEE, IL (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $2,835 | 2.75% |
| GAINESVILLE, FL (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $3,827 | 3.00% |
| JACKSON, MS (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $6,198 | 2.75% |
| FORT SMITH, AR-OK (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $8,042 | 2.88% |
| CHICO, CA (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $3,449 | 4.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) » | 1 | $255,000 | $255,000 | $3,818 | 3.13% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) » | 2 | $250,000 | $125,000 | $5,589 | 3.13% |
| Payson, AZ (FHA|USDA|VA) » | 1 | $245,000 | $245,000 | $4,685 | 3.13% |
| El Dorado, AR (FHA|USDA|VA) » | 1 | $235,000 | $235,000 | $8,373 | 3.75% |
| Arcadia, FL (FHA|USDA|VA) » | 1 | $235,000 | $235,000 | $8,498 | 3.00% |
| Dublin, GA (FHA|USDA|VA) » | 1 | $235,000 | $235,000 | $7,916 | 3.25% |
| SPRINGFIELD, IL (FHA|USDA|VA) » | 1 | $225,000 | $225,000 | $6,861 | 3.88% |
| BLOOMINGTON, IL (FHA|USDA|VA) » | 1 | $225,000 | $225,000 | $7,116 | 4.13% |
| Rochelle, IL (FHA|USDA|VA) » | 1 | $225,000 | $225,000 | $3,455 | 3.38% |
| New Castle, IN (FHA|USDA|VA) » | 1 | $225,000 | $225,000 | $4,129 | 3.50% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) » | 1 | $215,000 | $215,000 | $3,166 | 3.63% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) » | 1 | $215,000 | $215,000 | $8,405 | 4.50% |
| St. Marys, GA (FHA|USDA|VA) » | 2 | $210,000 | $105,000 | $5,494 | 3.75% |
| CARSON CITY, NV (FHA|USDA|VA) » | 1 | $205,000 | $205,000 | $6,645 | 3.13% |
| Kinston, NC (FHA|USDA|VA) » | 1 | $205,000 | $205,000 | $8,904 | 6.38% |
| Brownsville, TN (FHA|USDA|VA) » | 1 | $205,000 | $205,000 | $7,207 | 2.88% |
| Mayfield, KY (FHA|USDA|VA) » | 2 | $200,000 | $100,000 | $4,560 | 3.13% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) » | 1 | $195,000 | $195,000 | $3,179 | 3.50% |
| Summerville, GA (FHA|USDA|VA) » | 1 | $195,000 | $195,000 | $8,823 | 7.24% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) » | 1 | $195,000 | $195,000 | $4,386 | 3.00% |
| Albertville, AL (FHA|USDA|VA) » | 1 | $185,000 | $185,000 | $5,482 | 3.75% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) » | 1 | $175,000 | $175,000 | $3,700 | 3.38% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) » | 1 | $175,000 | $175,000 | $3,679 | 4.13% |
| ALBANY, GA (FHA|USDA|VA) » | 1 | $175,000 | $175,000 | $7,217 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) » | 1 | $165,000 | $165,000 | $7,419 | 3.00% |
| Sturgis, MI (FHA|USDA|VA) » | 1 | $165,000 | $165,000 | $5,218 | 2.25% |
| THE VILLAGES, FL (FHA|USDA|VA) » | 1 | $165,000 | $165,000 | $9,083 | 3.13% |
| Danville, KY (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $5,079 | 3.25% |
| LAFAYETTE, LA (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $6,750 | 3.25% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $6,727 | 3.50% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $5,730 | 4.50% |
| North Vernon, IN (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $3,081 | 3.63% |
| SPARTANBURG, SC (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $7,437 | 5.88% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $5,997 | 3.50% |
| HOT SPRINGS, AR (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $5,161 | 3.13% |
| VICTORIA, TX (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $5,262 | 3.25% |
| Opelousas, LA (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $4,153 | 3.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $4,325 | 2.75% |
| COLUMBUS, GA-AL (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $5,150 | 7.50% |
| Athens, TX (FHA|USDA|VA) » | 1 | $135,000 | $135,000 | $7,549 | 3.63% |
| CLEVELAND, TN (FHA|USDA|VA) » | 1 | $135,000 | $135,000 | $3,250 | 3.13% |
| Maysville, KY (FHA|USDA|VA) » | 1 | $135,000 | $135,000 | $4,906 | 3.25% |
| Russellville, AR (FHA|USDA|VA) » | 1 | $125,000 | $125,000 | $2,632 | 3.50% |
| Marion, IN (FHA|USDA|VA) » | 1 | $125,000 | $125,000 | $3,088 | 3.38% |
| FLORENCE, SC (FHA|USDA|VA) » | 1 | $125,000 | $125,000 | $4,983 | 3.00% |
| KOKOMO, IN (FHA|USDA|VA) » | 1 | $115,000 | $115,000 | $5,263 | 3.13% |
| CHARLESTON, WV (FHA|USDA|VA) » | 1 | $115,000 | $115,000 | $3,423 | 2.50% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) » | 1 | $115,000 | $115,000 | $3,053 | 2.88% |
| Sulphur Springs, TX (FHA|USDA|VA) » | 1 | $105,000 | $105,000 | $4,375 | 3.00% |
| Campbellsville, KY (FHA|USDA|VA) » | 1 | $105,000 | $105,000 | $4,491 | 3.50% |
| Ottawa, IL (FHA|USDA|VA) » | 1 | $95,000 | $95,000 | $3,825 | 3.75% |
| Vidalia, GA (FHA|USDA|VA) » | 1 | $95,000 | $95,000 | $5,778 | 3.63% |
| Roanoke Rapids, NC (FHA|USDA|VA) » | 1 | $95,000 | $95,000 | $3,328 | 3.00% |
| FORT WAYNE, IN (FHA|USDA|VA) » | 1 | $75,000 | $75,000 | $3,106 | 2.75% |
| Richmond, IN (FHA|USDA|VA) » | 1 | $75,000 | $75,000 | $4,711 | 3.25% |
| MONTGOMERY, AL (FHA|USDA|VA) » | 1 | $75,000 | $75,000 | $4,105 | 4.38% |
| Paducah, KY-IL (FHA|USDA|VA) » | 1 | $75,000 | $75,000 | $2,269 | 2.75% |
| BATTLE CREEK, MI (FHA|USDA|VA) » | 1 | $75,000 | $75,000 | $4,534 | 3.50% |
First Option Mortgage 's top markets include Atlanta, Indianapolis, Las Vegas, Phoenix, and Baton Rouge among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional » | 3,076 | $792,900,000 | $257,770 | $4,824 | 3.32% |
| FHA » | 1,379 | $316,735,000 | $229,685 | $8,871 | 3.29% |
| USDA » | 351 | $56,885,000 | $162,066 | $5,431 | 3.14% |
| VA » | 241 | $69,775,000 | $289,523 | $6,806 | 3.12% |
For the 2021 period, First Option Mortgage 's most frequently originated loan type of loans were Conventional, with 3,076 originations. Their 2nd most popular type is FHA, with 1,379 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase » | 3,960 | $965,220,000 | $243,742 | $6,353 | 3.33% |
| Refi » | 589 | $141,525,000 | $240,280 | $4,594 | 3.02% |
| Cash Out Refi » | 498 | $129,550,000 | $260,141 | $5,547 | 3.31% |
For the 2021, First Option Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 3,960 originations. The 2nd most popular reason of loans were Refi, with 589 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year » | 4,683 | $1,164,605,000 | $248,688 | $6,252 | 3.34% |
| 15 Year » | 211 | $49,495,000 | $234,573 | $4,396 | 2.67% |
| 20 Year » | 62 | $14,520,000 | $234,194 | $4,514 | 3.14% |
| 10 Year » | 53 | $3,835,000 | $72,358 | $1,316 | 2.58% |
| Other » | 15 | $3,695,000 | $246,333 | $4,600 | 3.37% |
| 3 Year » | 12 | $90,000 | $7,500 | $2 | 0.00% |
| 5 Year » | 11 | $55,000 | $5,000 | $15 | 0.00% |
For the 2021, First Option Mortgage 's most frequently cited loan length of loans were 30 Year, with 4,683 originations. The 2nd most popular length of loans were 15 Year, with 211 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k » | 2,693 | $636,455,000 | $236,337 |
| $2k-3k » | 919 | $225,185,000 | $245,033 |
| $3k-4k » | 510 | $131,230,000 | $257,314 |
| $5k+ » | 381 | $136,965,000 | $359,488 |
| $4k-5k » | 283 | $76,155,000 | $269,099 |
| $<1k » | 256 | $29,020,000 | $113,359 |
$6,252 of loans were First Option Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,693 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% » | 3,167 | $799,375,000 | $252,408 |
| 2.5-3% » | 1,263 | $318,205,000 | $251,944 |
| <2.5% » | 292 | $48,330,000 | $165,514 |
| 4-5% » | 180 | $44,510,000 | $247,278 |
| 7-8% » | 65 | $13,855,000 | $213,154 |
| Over 8% » | 22 | $5,310,000 | $241,364 |
| 5-6% » | 18 | $1,610,000 | $89,444 |
| 6-7% » | 17 | $4,925,000 | $289,706 |
During 2021, First Option Mortgage 's average interest rate of loans were 3.34%, while their most frequently originated rate bucket of loans were 3-4%, with 3,167 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k » | 2,604 | $719,770,000 | $276,409 | $6,715 | 3.34% |
| $100k-200k » | 1,552 | $241,910,000 | $155,870 | $5,157 | 3.36% |
| $400k-600k » | 449 | $212,015,000 | $472,194 | $7,665 | 3.31% |
| $100,000 or less » | 391 | $21,095,000 | $53,951 | $2,679 | 2.57% |
| $600k-1MM » | 44 | $32,150,000 | $730,682 | $11,374 | 3.37% |
| $1MM+ » | 7 | $9,355,000 | $1,336,429 | $21,145 | 3.93% |
2021 saw First Option Mortgage place emphasis on $200k-400k loans with 2,604 originations, totaling $719,770,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k » | 1,650 | $374,280,000 | $226,836 | $6,190 | 3.29% |
| $50k or less » | 1,407 | $236,795,000 | $168,298 | $5,433 | 3.15% |
| $75k-100k » | 824 | $221,310,000 | $268,580 | $6,274 | 3.35% |
| $100k-150k » | 705 | $218,075,000 | $309,326 | $6,504 | 3.41% |
| $150k-250k » | 333 | $124,815,000 | $374,820 | $6,196 | 3.44% |
| $250k+ » | 127 | $60,375,000 | $475,394 | $7,271 | 3.49% |
First Option Mortgage lent most frequently to those with incomes in the $50k-75k range, with 1,650 originations. The second most popular income band? $50k or less, with 1,407 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% » | 820 | $197,820,000 | $241,244 | $5,720 | 3.37% |
| 20-30% » | 780 | $180,400,000 | $231,282 | $5,132 | 3.29% |
| 50-60% » | 468 | $116,460,000 | $248,846 | $9,210 | 3.24% |
| 44% » | 242 | $58,950,000 | $243,595 | $5,599 | 3.26% |
| <20% » | 233 | $56,175,000 | $241,094 | $4,808 | 3.31% |
| 40% » | 229 | $56,075,000 | $244,869 | $5,505 | 3.33% |
| 43% » | 225 | $53,665,000 | $238,511 | $5,848 | 3.24% |
| 42% » | 210 | $52,380,000 | $249,429 | $6,308 | 3.28% |
| 41% » | 207 | $49,935,000 | $241,232 | $5,857 | 3.25% |
| 45% » | 193 | $52,535,000 | $272,202 | $6,318 | 3.26% |
| 38% » | 191 | $47,025,000 | $246,204 | $5,831 | 3.24% |
| 39% » | 184 | $47,670,000 | $259,076 | $6,107 | 3.33% |
| 49% » | 183 | $48,045,000 | $262,541 | $6,425 | 3.28% |
| 47% » | 175 | $44,175,000 | $252,429 | $6,430 | 3.24% |
| 36% » | 173 | $40,015,000 | $231,301 | $5,637 | 3.30% |
| 46% » | 166 | $42,480,000 | $255,904 | $7,006 | 3.31% |
| 48% » | 160 | $39,820,000 | $248,875 | $6,395 | 3.25% |
| 37% » | 156 | $39,120,000 | $250,769 | $5,504 | 3.34% |
| >60% » | 6 | $1,810,000 | $301,667 | $2,597 | 2.55% |
First Option Mortgage lent most frequently to those with DTI ratios of 30-36%, with 820 originations. The next most common DTI ratio? 20-30%, with 780 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White » | 3,467 | $814,555,000 | $234,945 | $5,822 | 3.32% |
| Black » | 998 | $242,740,000 | $243,226 | $6,947 | 3.28% |
| Asian » | 553 | $170,985,000 | $309,195 | $6,015 | 3.12% |
| Native Hawaiian or Islander » | 17 | $4,895,000 | $287,941 | $6,320 | 3.38% |
| American Indian » | 12 | $3,120,000 | $260,000 | $6,332 | 3.30% |
Approval Rates
Total approvals of all applications97.60%
First Option Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.32%
First Option Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,047 | $1,236,295,000 | $244,956 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| » | 5,047 | $1,236,295,000 | $244,956 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% » | 51 | $8,755,000 | $171,667 | $3,953 | 2.91% |
| 40-60% » | 284 | $62,740,000 | $220,915 | $4,336 | 3.01% |
| 60-80% » | 1,128 | $304,730,000 | $270,151 | $5,386 | 3.56% |
| 80-100% » | 3,382 | $842,510,000 | $249,116 | $6,642 | 3.32% |
| Over 100% » | 55 | $15,975,000 | $290,455 | $11,313 | 3.13% |
| Under 20% » | 147 | $1,585,000 | $10,782 | $165 | 0.96% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Mortgage Solutions | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| First Mortgage Solutions | Conventional home mortgage | Closing on a mortgage | 3 | 75.0% |
