First Community Mortgage Rates, Fees & Info

Chesterfield, MO

LEI: 549300T67186NPGCHI50

Tax ID: 43-0687711

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Community is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. First Community has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Farmington, Springfield, Hannibal, and Columbia among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Community has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Community 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 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
    Home Equity Line of Credit (HELOC) 5.16% 11/21/24
    30 Year Conventional Purchase 6.51% 11/21/24
    30 Year Conventional Refi 6.20% 11/21/24
    30 Year Cash-out Refi 6.31% 11/21/24
    15 Year Conventional Purchase 5.64% 11/21/24
    15 Year Conventional Refi 5.66% 11/21/24
    15 Year Cash-out Refi 5.66% 11/21/24
    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 Community Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Community. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,998

    Origination Dollar Volume (All Markets)

    $208,700,000
    Show all (6) awards

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1,938 $202,150,000 $104,309 $1,469 4.62%
    Outside of Metro Areas 35 $4,295,000 $122,714 $1,770 4.71%
    Farmington, MO (FHA|USDA|VA) 9 $745,000 $82,778 $1,562 4.26%
    SPRINGFIELD, MO (FHA|USDA|VA) 2 $350,000 $175,000 $3,202 4.94%
    Hannibal, MO (FHA|USDA|VA) 4 $270,000 $67,500 $1,227 4.28%
    COLUMBIA, MO (FHA|USDA|VA) 2 $230,000 $115,000 $844 4.56%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $155,000 $155,000 $1,450 3.75%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $135,000 $135,000 $3,565 4.88%
    Poplar Bluff, MO (FHA|USDA|VA) 1 $135,000 $135,000 $2,768 4.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $100,000 $50,000 $0 5.43%
    Sikeston, MO (FHA|USDA|VA) 1 $65,000 $65,000 $2,005 4.13%
    JEFFERSON CITY, MO (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.49%
    Branson, MO (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.49%
    First Community's top markets include St. Louis, Farmington, Springfield, Hannibal, and Columbia among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    Ozarks Federal Savings and Loan Association
    Similarity Rank: 100
    Community Bank of Trenton
    Similarity Rank: 108
    First National Bank of Waterloo
    Similarity Rank: 200
    RELIANCE BANK
    Similarity Rank: 238
    CapGrow Home Mortgage, LLC
    Similarity Rank: 272
    JERSEY STATE BANK
    Similarity Rank: 354
    Farmers and Merchants Bank of St. Clair
    Similarity Rank: 408
    United Bank of Union
    Similarity Rank: 415
    HNB National Bank
    Similarity Rank: 576
    Bank of Hillsboro
    Similarity Rank: 679

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,106 $148,500,000 $134,268 $1,483 4.78%
    HELOC 892 $60,200,000 $67,489 n/a 4.43%

    For 2018, First Community's most frequently originated type of loan was Conventional, with 1,106 originations. Their 2nd most popular type was HELOC, with 892 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 676 $32,410,000 $47,944 $355 4.76%
    Other 490 $32,690,000 $66,714 $370 4.72%
    Home Purchase 465 $79,265,000 $170,462 $2,125 4.75%
    Cash Out Refi 233 $42,525,000 $182,511 $1,760 4.01%
    Refi 119 $19,075,000 $160,294 $1,898 4.04%
    NA 15 $2,735,000 $182,333 $0 5.75%

    For 2018, First Community's most frequently cited loan purpose was Home Improvement, with 676 originations. The 2nd most popular reason was Other, with 490 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 1,208 $83,690,000 $69,280 $724 4.51%
    30 Year 507 $92,665,000 $182,771 $2,006 4.73%
    15 Year 223 $22,715,000 $101,861 $1,338 4.91%
    20 Year 34 $4,980,000 $146,471 $2,792 4.51%
    5 Year 20 $4,130,000 $206,500 $0 5.77%
    3 Year 4 $330,000 $82,500 $0 5.38%
    Other 1 $55,000 $55,000 $0 5.75%
    30+ year 1 $135,000 $135,000 $0 5.25%

    For 2018, First Community's most frequently cited loan duration was 10 Year, with 1,208 originations. The 2nd most popular length was 30 Year, with 507 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 9 $1,295,000 $143,889
    $1k-2k 6 $880,000 $146,667
    $2k-3k 1 $115,000 $115,000
    $3k-4k 1 $275,000 $275,000

    First Community's average total fees were $2,006, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 1,018 $68,690,000 $67,475
    4-5% 331 $59,995,000 $181,254
    3-4% 284 $52,310,000 $184,190
    2.5-3% 210 $14,840,000 $70,667
    <2.5% 151 $11,365,000 $75,265
    6-7% 3 $965,000 $321,667
    7-8% 1 $535,000 $535,000

    During 2018, First Community's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 5-6%, with 1,018 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,227 $54,245,000 $44,209 $762 4.77%
    $100k-200k 514 $72,990,000 $142,004 $1,880 4.43%
    $200k-400k 205 $53,115,000 $259,098 $2,529 4.37%
    $400k-600k 39 $18,905,000 $484,744 $2,296 4.03%
    $600k-1MM 12 $8,310,000 $692,500 $1,815 4.20%
    $1MM+ 1 $1,135,000 $1,135,000 $0 4.75%

    2018 saw First Community place emphasis on $100,000 or less loans with 1,227 originations, totaling $54,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 519 $54,525,000 $105,058 $1,617 4.58%
    $50k-75k 385 $30,225,000 $78,506 $1,311 4.65%
    $75k-100k 382 $32,760,000 $85,759 $1,391 4.75%
    $150k-250k 336 $43,900,000 $130,655 $1,795 4.52%
    $50k or less 216 $13,740,000 $63,611 $1,302 4.66%
    $250k+ 96 $24,420,000 $254,375 $1,815 4.33%

    First Community lent most frequently to those with incomes in the $100k-150k range, with 519 originations. The second most popular income band? $50k-75k, with 385 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 599 $60,025,000 $100,209 $1,577 4.59%
    30-36% 425 $44,645,000 $105,047 $1,431 4.65%
    <20% 203 $22,375,000 $110,222 $1,795 4.45%
    42% 108 $10,650,000 $98,611 $1,470 4.63%
    39% 96 $8,970,000 $93,438 $1,391 4.67%
    41% 85 $8,575,000 $100,882 $1,284 4.57%
    36% 84 $10,080,000 $120,000 $1,371 4.67%
    40% 81 $8,745,000 $107,963 $1,425 4.81%
    38% 81 $8,285,000 $102,284 $1,423 4.81%
    37% 80 $9,370,000 $117,125 $1,109 4.79%
    43% 34 $3,020,000 $88,824 $0 4.03%
    44% 21 $1,155,000 $55,000 $375 4.31%
    50-60% 16 $2,400,000 $150,000 $727 4.58%
    >60% 15 $1,995,000 $133,000 $903 4.80%
    45% 14 $960,000 $68,571 $0 4.53%
    46% 5 $475,000 $95,000 $1,013 4.09%
    47% 4 $380,000 $95,000 $0 3.18%
    48% 2 $400,000 $200,000 $1,809 4.75%
    49% 1 $85,000 $85,000 $2,529 4.00%

    First Community lent most frequently to those with DTI ratios of 20-30%, with 599 originations. The next most common DTI ratio? 30-36%, with 425 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,691 $170,015,000 $100,541 $1,485 4.65%
    Not provided 164 $19,730,000 $120,305 $1,648 4.27%
    Asian 34 $5,710,000 $167,941 $2,415 3.83%
    Black 62 $5,020,000 $80,968 $692 4.99%
    Not applicable 24 $4,570,000 $190,417 $0 5.71%
    Asian Indian 8 $1,070,000 $133,750 $1,470 4.24%
    American Indian 5 $805,000 $161,000 $757 5.20%
    Chinese 3 $745,000 $248,333 $2,101 3.50%
    Other Pacific Islander 2 $470,000 $235,000 $2,136 4.75%
    Other Asian 2 $290,000 $145,000 $1,099 4.25%
    Native Hawaiian or Islander 2 $200,000 $100,000 $0 5.62%
    Vietnamese 1 $75,000 $75,000 $2,160 4.25%

    Approval Rates

    Total approvals of all applications
    52.33%

    First Community has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    33.73%

    First Community 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 1,998 $208,700,000 $104,454

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $875,000 $79,545
    Single Family (1-4 Units):Site-Built 1,987 $207,825,000 $104,592

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 372 $30,700,000 $82,527 $1,232 4.52%
    40-60% 176 $26,450,000 $150,284 $1,886 4.06%
    60-80% 285 $50,925,000 $178,684 $2,396 4.33%
    80-100% 380 $72,640,000 $191,158 $1,659 4.71%
    Over 100% 2 $620,000 $310,000 $0 6.94%
    Under 20% 782 $27,240,000 $34,834 $377 4.86%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 33.3%
    FIRST COMMUNITY MORTGAGE, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Trouble during payment process 1 33.3%