First Community Mortgage Rates, Fees & Info
Chesterfield, MOLEI: 549300T67186NPGCHI50
Tax ID: 43-0687711
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Mortgage Data
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, Chicago, Farmington, Columbia, and Kansas City among others. We have data for 17 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.16% | 5/4/24 |
| 30 Year Conventional Purchase | 6.51% | 5/4/24 |
| 30 Year Conventional Refi | 6.20% | 5/4/24 |
| 30 Year Cash-out Refi | 6.31% | 5/4/24 |
| 15 Year Conventional Purchase | 5.64% | 5/4/24 |
| 15 Year Conventional Refi | 5.66% | 5/4/24 |
| 15 Year Cash-out Refi | 5.66% | 5/4/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,825Origination Dollar Volume (All Markets)
$331,065,000Awards
FIRST COMMUNITY - 2019
FIRST COMMUNITY is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2,731 | $319,575,000 | $117,018 | $2,006 | 4.10% |
| Outside of Metro Areas | 54 | $6,070,000 | $112,407 | $2,122 | 3.73% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $1,330,000 | $332,500 | $5,336 | 3.69% |
| Farmington, MO (FHA|USDA|VA) | 10 | $950,000 | $95,000 | $667 | 4.74% |
| COLUMBIA, MO (FHA|USDA|VA) | 5 | $755,000 | $151,000 | $2,257 | 3.87% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $1,535 | 4.70% |
| Branson, MO (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,406 | 3.66% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $1,673 | 4.31% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,592 | 3.13% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $1,813 | 4.25% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,097 | 3.00% |
| Sikeston, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,874 | 4.38% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.50% |
| Mount Vernon, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.88% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,424 | 4.25% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.49% |
| Mexico, MO (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,188 | 3.75% |
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.
Similarity Rank: 190
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Similarity Rank: 792
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,771 | $262,315,000 | $148,117 | $2,008 | 4.41% |
| HELOC | 1,054 | $68,750,000 | $65,228 | n/a | 3.57% |
For 2019, First Community's most frequently originated type of loan was Conventional, with 1,771 originations. Their 2nd most popular type was HELOC, with 1,054 originations.
Loan Reason
For 2019, First Community's most frequently cited loan purpose was Home Purchase, with 751 originations. The 2nd most popular reason was Home Improvement, with 740 originations.
Loan Duration/Length
For 2019, First Community's most frequently cited loan duration was 10 Year, with 1,369 originations. The 2nd most popular length was 30 Year, with 938 originations.
Origination Fees/Closing Costs
First Community's average total fees were $2,723, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.
Interest Rates
During 2019, First Community's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 5-6%, with 698 originations.
Loan Sizing
2019 saw First Community place emphasis on $100,000 or less loans with 1,523 originations, totaling $70,685,000 in origination value.
Applicant Income
First Community lent most frequently to those with incomes in the $100k-150k range, with 709 originations. The second most popular income band? $50k-75k, with 604 originations.
Applicant Debt to Income Ratio
First Community lent most frequently to those with DTI ratios of 20-30%, with 837 originations. The next most common DTI ratio? 30-36%, with 633 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications57.43%
First Community has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination29.20%
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 | 2,825 | $331,065,000 | $117,191 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST COMMUNITY MORTGAGE, INC. | VA mortgage | Closing on a mortgage | 1 | 50.0% |
| FIRST COMMUNITY MORTGAGE, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |