First Option Mortgage Rates, Fees & Info

Atlanta, GA

LEI: 549300PFJ7GCGDLB2E65

Tax ID: 68-0570826

2.9 stars - out of 5 stars, based on 71 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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. (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.

    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 7.43% 11/26/22
    30 Year Conventional Refi 7.00% 11/26/22
    30 Year Cash-out Refi 7.21% 11/26/22
    30 Year FHA Purchase 8.05% 11/26/22
    30 Year FHA Refi 7.57% 11/26/22
    30 Year VA Purchase 7.01% 11/26/22
    30 Year VA Refi 6.47% 11/26/22
    30 Year USDA Purchase 7.35% 11/26/22
    30 Year USDA Refi 7.13% 11/26/22
    15 Year Conventional Purchase 6.58% 11/26/22
    15 Year Conventional Refi 6.25% 11/26/22
    15 Year Cash-out Refi 6.25% 11/26/22
    15 Year FHA Purchase 5.90% 11/26/22
    15 Year FHA Refi 5.90% 11/26/22
    15 Year VA Purchase 6.84% 11/26/22
    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

    5,047

    Origination Dollar Volume (All Markets)

    $1,236,295,000

    Awards

    First Option Mortgage VA Loans bronze
    Show all (1) awards

    Relative Rate

    First Option Mortgage's average 30 year fixed mortgage rate was 3.34%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.19%.

    Relative Fees (Closing Costs)

    First Option Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $6,252.

    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 $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.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

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

    DADE COUNTY FEDERAL CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First Option Mortgage's most frequently originated type of loan was Conventional, with 3,076 originations. Their 2nd most popular type was FHA, with 1,379 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First Option Mortgage's most frequently cited loan purpose was Home Purchase, with 3,960 originations. The 2nd most popular reason was 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 2021, First Option Mortgage's most frequently cited loan duration was 30 Year, with 4,683 originations. The 2nd most popular length was 15 Year, with 211 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    First Option Mortgage's average total fees were $6,252, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.34%, while their most frequently originated rate bucket for loans was 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 applications
    97.60%

    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 origination
    76.32%

    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%