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 smaller mortgage company specializing in Home Purchase 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, Baton Rouge, and Huntington among others. We have data for 166 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 a high 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 | 7.37% | 11/30/23 |
| 30 Year Conventional Refi | 6.91% | 11/30/23 |
| 30 Year Cash-out Refi | 7.10% | 11/30/23 |
| 30 Year FHA Purchase | 7.61% | 11/30/23 |
| 30 Year FHA Refi | 7.53% | 11/30/23 |
| 30 Year VA Purchase | 6.66% | 11/30/23 |
| 30 Year USDA Purchase | 7.08% | 11/30/23 |
| 15 Year Conventional Purchase | 6.36% | 11/30/23 |
| 15 Year Conventional Refi | 6.20% | 11/30/23 |
| 15 Year Cash-out Refi | 6.20% | 11/30/23 |
| 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 Option Mortgage Mortgage Calculator
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This is not an official calculator from First Option Mortgage. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,319Origination Dollar Volume (All Markets)
$924,335,000Awards
First Option Mortgage - 2022
First Option Mortgage is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
First Option Mortgage's average 30 year fixed mortgage rate was
5.46%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.7%.
Relative Fees (Closing Costs)
First Option Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,511.
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) | 1,118 | $351,360,000 | $314,275 | $8,877 | 5.87% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 281 | $74,055,000 | $263,541 | $8,556 | 5.19% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 130 | $44,490,000 | $342,231 | $9,803 | 5.06% |
| BATON ROUGE, LA (FHA|USDA|VA) | 156 | $39,300,000 | $251,923 | $7,725 | 5.15% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 263 | $38,135,000 | $145,000 | $5,654 | 5.10% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 110 | $36,290,000 | $329,909 | $9,675 | 5.07% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 86 | $32,760,000 | $380,930 | $11,142 | 5.61% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 63 | $29,945,000 | $475,317 | $11,017 | 5.69% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 74 | $20,250,000 | $273,649 | $6,827 | 4.66% |
| GAINESVILLE, GA (FHA|USDA|VA) | 67 | $18,175,000 | $271,269 | $10,336 | 5.89% |
| KNOXVILLE, TN (FHA|USDA|VA) | 72 | $18,080,000 | $251,111 | $7,164 | 4.83% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 56 | $16,960,000 | $302,857 | $9,569 | 5.28% |
| LAREDO, TX (FHA|USDA|VA) | 69 | $15,855,000 | $229,783 | $9,848 | 5.09% |
| Outside of Metro Areas | 92 | $15,540,000 | $168,913 | $5,906 | 5.12% |
| London, KY (FHA|USDA|VA) | 49 | $9,265,000 | $189,082 | $5,976 | 4.14% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 30 | $8,390,000 | $279,667 | $7,470 | 4.82% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 42 | $8,140,000 | $193,810 | $4,846 | 5.01% |
| Jefferson, GA (FHA|USDA|VA) | 21 | $7,215,000 | $343,571 | $11,295 | 5.82% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 9 | $6,255,000 | $695,000 | $14,974 | 5.28% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 24 | $6,060,000 | $252,500 | $10,063 | 5.29% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 22 | $5,870,000 | $266,818 | $7,999 | 5.15% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 20 | $4,770,000 | $238,500 | $7,669 | 4.54% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $4,675,000 | $425,000 | $10,631 | 5.99% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 15 | $4,665,000 | $311,000 | $8,593 | 5.46% |
| DECATUR, IL (FHA|USDA|VA) | 33 | $4,535,000 | $137,424 | $6,556 | 5.52% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 16 | $4,490,000 | $280,625 | $6,602 | 5.78% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 20 | $3,740,000 | $187,000 | $8,648 | 4.71% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $3,625,000 | $402,778 | $11,216 | 5.69% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 11 | $3,165,000 | $287,727 | $10,472 | 5.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 9 | $3,155,000 | $350,556 | $8,280 | 5.18% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 13 | $2,735,000 | $210,385 | $9,671 | 5.45% |
| Sevierville, TN (FHA|USDA|VA) | 6 | $2,680,000 | $446,667 | $11,257 | 6.06% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 5 | $2,605,000 | $521,000 | $7,337 | 5.33% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 20 | $2,480,000 | $124,000 | $5,382 | 5.37% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 9 | $2,325,000 | $258,333 | $10,979 | 5.89% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $2,015,000 | $287,857 | $10,388 | 5.32% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 14 | $1,990,000 | $142,143 | $5,810 | 4.79% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 8 | $1,880,000 | $235,000 | $5,716 | 5.14% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $1,820,000 | $910,000 | $16,904 | 4.88% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $1,715,000 | $1,715,000 | $42,961 | 4.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 5 | $1,585,000 | $317,000 | $10,909 | 5.20% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 5 | $1,485,000 | $297,000 | $8,159 | 5.83% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $7,414 | 4.50% |
| Somerset, KY (FHA|USDA|VA) | 7 | $1,435,000 | $205,000 | $5,978 | 3.93% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $11,869 | 5.56% |
| DECATUR, AL (FHA|USDA|VA) | 7 | $1,415,000 | $202,143 | $5,598 | 3.89% |
| Portsmouth, OH (FHA|USDA|VA) | 10 | $1,410,000 | $141,000 | $6,448 | 5.35% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $1,385,000 | $461,667 | $7,816 | 4.88% |
| Cornelia, GA (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $6,651 | 6.44% |
| Toccoa, GA (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $7,035 | 6.29% |
| OCALA, FL (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $8,778 | 4.91% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 6 | $1,160,000 | $193,333 | $7,914 | 5.69% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $15,440 | 5.31% |
| Calhoun, GA (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $6,685 | 5.05% |
| Crawfordsville, IN (FHA|USDA|VA) | 7 | $1,075,000 | $153,571 | $6,813 | 5.75% |
| Show Low, AZ (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $7,625 | 5.50% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $17,165 | 4.19% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $8,221 | 4.75% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $5,043 | 6.22% |
| BRUNSWICK, GA (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $12,392 | 5.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $9,898 | 4.31% |
| PEORIA, IL (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $4,829 | 6.34% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $4,169 | 5.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $8,515 | 6.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $13,385 | 6.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $7,953 | 4.56% |
| Somerset, PA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $18,445 | 6.63% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $11,691 | 6.19% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $5,314 | 6.42% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,666 | 5.04% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $13,015 | 6.75% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $9,794 | 5.17% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $3,959 | 5.21% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $9,246 | 6.13% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $7,096 | 4.38% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $13,968 | 6.81% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $23,223 | 8.38% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $9,997 | 7.13% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $4,946 | 4.88% |
| TULSA, OK (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $12,995 | 4.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $13,402 | 5.88% |
| Pahrump, NV (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $8,796 | 5.13% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $13,885 | 5.56% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $7,243 | 6.25% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $8,491 | 5.56% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $10,275 | 4.44% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,585 | 5.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $11,606 | 5.44% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $12,103 | 7.00% |
| ROME, GA (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $7,816 | 6.29% |
| Cedartown, GA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,651 | 4.56% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,550 | 4.54% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $15,185 | 5.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $6,360 | 6.13% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $9,132 | 4.38% |
| Mount Sterling, KY (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $7,006 | 5.79% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,936 | 7.50% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,720 | 3.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $19,044 | 5.63% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $10,899 | 5.44% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $13,218 | 6.13% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $11,775 | 5.88% |
| MUNCIE, IN (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $5,406 | 5.00% |
| HAMMOND, LA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $7,281 | 4.06% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,603 | 5.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $15,471 | 4.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,342 | 5.63% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,129 | 3.99% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $18,314 | 5.13% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $7,477 | 7.19% |
| Washington, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,281 | 4.88% |
| Danville, KY (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $5,505 | 5.06% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $13,872 | 6.63% |
| Athens, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,459 | 4.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,723 | 6.88% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $14,212 | 4.50% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,027 | 5.63% |
| Richmond, IN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,651 | 7.13% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,741 | 9.19% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,752 | 4.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,151 | 7.13% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $9,119 | 3.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $15,624 | 6.75% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,759 | 3.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,122 | 3.00% |
| Maysville, KY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,855 | 6.88% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,890 | 4.25% |
| Taylorville, IL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $6,258 | 5.63% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,995 | 4.31% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,520 | 4.50% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,325 | 5.13% |
| Campbellsville, KY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,198 | 3.75% |
| Newport, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,643 | 5.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,661 | 7.13% |
| Payson, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $10,377 | 6.00% |
| Bonham, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.63% |
| AKRON, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,506 | 4.63% |
| CHICO, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,354 | 4.88% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,867 | 4.88% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,018 | 6.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,582 | 6.13% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $12,357 | 4.38% |
| El Dorado, AR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,154 | 5.13% |
| Richmond-Berea, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,805 | 3.25% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,550 | 4.00% |
| Thomaston, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,807 | 8.00% |
| Corsicana, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $10,047 | 8.50% |
| Middlesborough, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,776 | 3.63% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,750 | 5.13% |
| Albertville, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,033 | 5.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,794 | 4.25% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,523 | 5.63% |
| DALTON, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,358 | 4.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,838 | 3.00% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,704 | 6.13% |
| Cordele, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,162 | 5.13% |
| Big Stone Gap, VA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,251 | 6.75% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,484 | 5.00% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,267 | 4.38% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $8,917 | 6.75% |
| Waycross, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,035 | 7.50% |
| New Castle, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,578 | 5.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,703 | 6.63% |
| Freeport, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,397 | 5.63% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,536 | 7.38% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,803 | 4.88% |
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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.
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Product Mix
For 2022, First Option Mortgage's most frequently originated type of loan was Conventional, with 2,063 originations. Their 2nd most popular type was FHA, with 973 originations.
Loan Reason
For 2022, First Option Mortgage's most frequently cited loan purpose was Home Purchase, with 2,951 originations. The 2nd most popular reason was Cash Out Refi, with 299 originations.
Loan Duration/Length
For 2022, First Option Mortgage's most frequently cited loan duration was 30 Year, with 3,218 originations. The 2nd most popular length was 15 Year, with 57 originations.
Origination Fees/Closing Costs
First Option Mortgage's average total fees were $8,511, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,049 originations.
Interest Rates
During 2022, First Option Mortgage's average interest rate for loans was 5.46%, while their most frequently originated rate bucket for loans was 5-6%, with 1,089 originations.
Loan Sizing
2022 saw First Option Mortgage place emphasis on $200k-400k loans with 1,839 originations, totaling $533,675,000 in origination value.
Applicant Income
First Option Mortgage lent most frequently to those with incomes in the $50k-75k range, with 1,015 originations. The second most popular income band? $75k-100k, with 660 originations.
Applicant Debt to Income Ratio
First Option Mortgage lent most frequently to those with DTI ratios of 30-36%, with 496 originations. The next most common DTI ratio? 20-30%, with 380 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.65%
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 origination69.30%
First Option Mortgage 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 | 3,319 | $924,335,000 | $278,498 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |