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 Refi, Cash Out Refi, and Home Purchase loans. First Community has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Farmington, Chicago, Columbia, and Cape Girardeau among others. We have data for 21 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% | 4/21/24 |
| 30 Year Conventional Purchase | 6.51% | 4/21/24 |
| 30 Year Conventional Refi | 6.20% | 4/21/24 |
| 30 Year Cash-out Refi | 6.31% | 4/21/24 |
| 15 Year Conventional Purchase | 5.64% | 4/21/24 |
| 15 Year Conventional Refi | 5.66% | 4/21/24 |
| 15 Year Cash-out Refi | 5.66% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,157Origination Dollar Volume (All Markets)
$662,415,000Top 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) | 4,022 | $642,510,000 | $159,749 | $2,241 | 3.36% |
| Outside of Metro Areas | 80 | $12,530,000 | $156,625 | $2,342 | 3.24% |
| Farmington, MO (FHA|USDA|VA) | 9 | $1,175,000 | $130,556 | $1,741 | 3.74% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 10 | $1,110,000 | $111,000 | $2,571 | 3.48% |
| COLUMBIA, MO (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $2,505 | 3.23% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $964 | 3.53% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $2,220 | 2.93% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $4,249 | 3.12% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $1,489 | 3.34% |
| Branson, MO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,845 | 3.63% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $1,367 | 3.50% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,802 | 2.75% |
| Poplar Bluff, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,327 | 3.25% |
| Rolla, MO (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.25% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,163 | 3.13% |
| Marshall, MO (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,089 | 2.75% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,081 | 2.75% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,900 | 2.50% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,769 | 3.00% |
| Jacksonville, IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $917 | 3.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $673 | 4.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3,174 | $593,770,000 | $187,073 | $2,241 | 3.35% |
| HELOC | 983 | $68,645,000 | $69,832 | n/a | 3.40% |
For 2020, First Community's most frequently originated type of loan was Conventional, with 3,174 originations. Their 2nd most popular type was HELOC, with 983 originations.
Loan Reason
For 2020, First Community's most frequently cited loan purpose was Refi, with 1,224 originations. The 2nd most popular reason was Cash Out Refi, with 1,041 originations.
Loan Duration/Length
For 2020, First Community's most frequently cited loan duration was 30 Year, with 1,500 originations. The 2nd most popular length was 15 Year, with 1,233 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3,134 | $586,230,000 | $187,055 |
| $2k-3k | 4 | $1,230,000 | $307,500 |
| $1k-2k | 3 | $805,000 | $268,333 |
| $5k+ | 3 | $685,000 | $228,333 |
First Community's average total fees were $2,142, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,134 originations.
Interest Rates
During 2020, First Community's average interest rate for loans was 3.54%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,859 originations.
Loan Sizing
2020 saw First Community place emphasis on $100k-200k loans with 1,551 originations, totaling $227,155,000 in origination value.
Applicant Income
First Community lent most frequently to those with incomes in the $100k-150k range, with 1,119 originations. The second most popular income band? $50k-75k, with 816 originations.
Applicant Debt to Income Ratio
First Community lent most frequently to those with DTI ratios of 20-30%, with 1,350 originations. The next most common DTI ratio? 30-36%, with 880 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.00%
First Community has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination14.24%
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 |
|---|---|---|---|
| 0.0 | 907 | $63,875,000 | $70,424 |
| NA | 3,250 | $598,540,000 | $184,166 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Other type of mortgage | Closing on a mortgage | 1 | 20.0% |
| FIRST GUARANTY MORTGAGE CORP | VA mortgage | Improper use of your report | 1 | 20.0% |
| FIRST GUARANTY MORTGAGE CORP | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 40.0% |