First Mortgage Solutions Rates, Fees & Info

LEES SUMMIT, MO

LEI: 549300V1JRN7CMTCF305

Tax ID: 20-8802502

5 stars - Updated: 2/19/24 - out of 5 stars, based on 29 reviews

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

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Mortgage Data

Review & Overview

First Mortgage Solutions is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. First Mortgage Solutions has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Dallas, Houston, Atlanta, and Austin among others. We have data for 121 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Mortgage Solutions 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 Mortgage Solutions 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 6.32% 2/19/24
30 Year Conventional Refi 6.09% 2/19/24
30 Year Cash-out Refi 6.36% 2/19/24
30 Year FHA Purchase 7.02% 2/19/24
30 Year VA Purchase 5.70% 2/19/24
30 Year VA Refi 5.47% 2/19/24
15 Year Conventional Purchase 5.57% 2/19/24
15 Year Conventional Refi 5.62% 2/19/24
15 Year Cash-out Refi 5.62% 2/19/24
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 Mortgage Solutions Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Mortgage Solutions. 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

818

Origination Dollar Volume (All Markets)

$377,930,000
Show all (82) awards

Relative Rate

First Mortgage Solutions's average 30 year fixed mortgage rate was 3.69%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -1.07%.

Relative Fees (Closing Costs)

First Mortgage Solutions's average total fees/closing costs for a 30 year fixed rate mortgage were $6,383.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 66 $38,050,000 $576,515 $7,462 3.40%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 74 $34,170,000 $461,757 $6,579 3.72%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 49 $21,135,000 $431,327 $6,338 3.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 43 $17,605,000 $409,419 $5,110 3.78%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 39 $17,585,000 $450,897 $6,513 3.53%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 30 $14,860,000 $495,333 $4,060 3.58%
KANSAS CITY, MO-KS (FHA|USDA|VA) 41 $12,185,000 $297,195 $3,917 3.87%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 26 $11,360,000 $436,923 $5,697 3.65%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 19 $10,185,000 $536,053 $6,977 3.65%
Outside of Metro Areas 23 $9,305,000 $404,565 $3,661 3.83%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 19 $9,055,000 $476,579 $6,858 3.68%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 20 $8,720,000 $436,000 $4,637 3.87%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 13 $8,405,000 $646,538 $5,744 3.39%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 15 $8,385,000 $559,000 $7,887 3.36%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 15 $7,735,000 $515,667 $4,205 3.62%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $7,395,000 $672,273 $8,036 3.35%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 18 $6,900,000 $383,333 $8,632 4.03%
COLORADO SPRINGS, CO (FHA|USDA|VA) 14 $6,690,000 $477,857 $7,306 3.79%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 12 $5,040,000 $420,000 $6,191 4.03%
RALEIGH-CARY, NC (FHA|USDA|VA) 10 $4,270,000 $427,000 $6,524 3.92%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 9 $4,265,000 $473,889 $6,523 3.17%
JACKSONVILLE, FL (FHA|USDA|VA) 8 $3,950,000 $493,750 $7,540 3.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 7 $3,795,000 $542,143 $7,652 3.66%
RICHMOND, VA (FHA|USDA|VA) 10 $3,670,000 $367,000 $4,940 3.90%
ST. LOUIS, MO-IL (FHA|USDA|VA) 8 $3,610,000 $451,250 $5,945 3.67%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 7 $3,265,000 $466,429 $4,258 4.21%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 6 $3,150,000 $525,000 $4,123 3.44%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 7 $3,095,000 $442,143 $3,313 3.68%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $3,005,000 $1,001,667 $7,983 3.00%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $2,940,000 $735,000 $11,904 3.03%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $2,885,000 $577,000 $7,432 3.58%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $2,515,000 $503,000 $4,338 3.02%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 6 $2,490,000 $415,000 $7,271 3.77%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 4 $2,470,000 $617,500 $14,334 2.72%
Boone, NC (FHA|USDA|VA) 5 $2,435,000 $487,000 $6,605 4.15%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $2,385,000 $795,000 $8,026 3.00%
BOISE CITY, ID (FHA|USDA|VA) 5 $1,985,000 $397,000 $5,462 3.37%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $1,970,000 $492,500 $12,991 3.94%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $1,955,000 $391,000 $5,076 3.52%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,895,000 $379,000 $4,575 3.92%
BOULDER, CO (FHA|USDA|VA) 3 $1,825,000 $608,333 $2,614 2.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,775,000 $591,667 $9,898 3.08%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $1,735,000 $347,000 $5,274 3.68%
Sevierville, TN (FHA|USDA|VA) 3 $1,645,000 $548,333 $4,035 3.41%
SAVANNAH, GA (FHA|USDA|VA) 3 $1,625,000 $541,667 $9,249 2.96%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,555,000 $518,333 $4,324 2.91%
WILMINGTON, NC (FHA|USDA|VA) 3 $1,545,000 $515,000 $7,311 4.21%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,385,000 $461,667 $4,519 3.17%
Morehead City, NC (FHA|USDA|VA) 3 $1,375,000 $458,333 $5,394 3.87%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $1,345,000 $448,333 $4,582 3.79%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $1,295,000 $431,667 $4,092 3.08%
ASHEVILLE, NC (FHA|USDA|VA) 3 $1,275,000 $425,000 $3,119 3.50%
FRESNO, CA (FHA|USDA|VA) 2 $1,250,000 $625,000 $6,132 2.94%
CORPUS CHRISTI, TX (FHA|USDA|VA) 3 $1,175,000 $391,667 $9,025 3.58%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $1,170,000 $585,000 $5,477 3.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $1,165,000 $388,333 $4,424 3.75%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $1,135,000 $378,333 $8,651 3.33%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $1,110,000 $555,000 $20,698 3.63%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $1,100,000 $550,000 $9,257 4.12%
SPRINGFIELD, MO (FHA|USDA|VA) 3 $1,095,000 $365,000 $4,780 3.16%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $1,065,000 $355,000 $7,444 3.79%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 4 $1,050,000 $262,500 $10,021 4.06%
COLUMBIA, MO (FHA|USDA|VA) 2 $970,000 $485,000 $1,862 4.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $965,000 $321,667 $9,907 3.96%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $960,000 $480,000 $5,799 2.93%
Key West, FL (FHA|USDA|VA) 2 $940,000 $470,000 $6,688 3.06%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 3 $935,000 $311,667 $3,295 3.71%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $880,000 $440,000 $5,848 3.06%
Jefferson, GA (FHA|USDA|VA) 2 $870,000 $435,000 $11,422 2.69%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $860,000 $430,000 $3,519 3.00%
EL PASO, TX (FHA|USDA|VA) 2 $810,000 $405,000 $5,398 4.94%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $780,000 $390,000 $2,599 3.75%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $770,000 $385,000 $12,263 3.06%
IDAHO FALLS, ID (FHA|USDA|VA) 2 $770,000 $385,000 $7,225 3.56%
PITTSBURGH, PA (FHA|USDA|VA) 2 $750,000 $375,000 $4,053 3.38%
BRUNSWICK, GA (FHA|USDA|VA) 2 $730,000 $365,000 $3,851 4.56%
STAUNTON, VA (FHA|USDA|VA) 2 $720,000 $360,000 $2,441 2.50%
Outside of Metro Areas 1 $645,000 $645,000 $8,591 2.63%
Cookeville, TN (FHA|USDA|VA) 1 $645,000 $645,000 $17,790 4.25%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $605,000 $605,000 $4,655 3.25%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $605,000 $605,000 $1,987 4.99%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $605,000 $605,000 $5,558 2.88%
GAINESVILLE, FL (FHA|USDA|VA) 2 $600,000 $300,000 $3,048 3.31%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $595,000 $595,000 $5,499 3.75%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $590,000 $295,000 $2,573 3.69%
Seneca, SC (FHA|USDA|VA) 1 $565,000 $565,000 $22,646 2.62%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $560,000 $280,000 $6,454 4.88%
WICHITA, KS (FHA|USDA|VA) 2 $520,000 $260,000 $2,094 2.88%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $515,000 $515,000 $9,482 3.00%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $515,000 $515,000 $4,964 4.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $495,000 $495,000 $2,204 3.38%
ABILENE, TX (FHA|USDA|VA) 1 $475,000 $475,000 $21,258 4.25%
LONGVIEW, WA (FHA|USDA|VA) 1 $465,000 $465,000 $2,556 3.25%
Branson, MO (FHA|USDA|VA) 1 $455,000 $455,000 $16,355 3.88%
Edwards, CO (FHA|USDA|VA) 1 $445,000 $445,000 $7,486 3.13%
Centralia, WA (FHA|USDA|VA) 1 $435,000 $435,000 $2,399 4.99%
PUEBLO, CO (FHA|USDA|VA) 1 $425,000 $425,000 $9,407 3.88%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $415,000 $415,000 $4,454 5.00%
Rolla, MO (FHA|USDA|VA) 1 $415,000 $415,000 $17,653 2.25%
MEDFORD, OR (FHA|USDA|VA) 1 $415,000 $415,000 $13,299 2.38%
CORVALLIS, OR (FHA|USDA|VA) 1 $405,000 $405,000 $10,336 3.38%
Port Angeles, WA (FHA|USDA|VA) 1 $405,000 $405,000 $2,331 4.38%
VISALIA, CA (FHA|USDA|VA) 1 $405,000 $405,000 $2,955 2.88%
YUBA CITY, CA (FHA|USDA|VA) 1 $375,000 $375,000 $1,735 2.38%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $365,000 $365,000 $6,592 3.88%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $365,000 $365,000 $5,599 2.75%
SALEM, OR (FHA|USDA|VA) 1 $365,000 $365,000 $10,501 3.13%
REDDING, CA (FHA|USDA|VA) 1 $365,000 $365,000 $5,275 3.38%
WACO, TX (FHA|USDA|VA) 1 $355,000 $355,000 $4,695 3.25%
STOCKTON, CA (FHA|USDA|VA) 1 $345,000 $345,000 $2,981 2.38%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $345,000 $345,000 $11,065 4.88%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $295,000 $295,000 $5,339 5.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $295,000 $295,000 $3,476 5.00%
Warrensburg, MO (FHA|USDA|VA) 1 $295,000 $295,000 $7,799 3.75%
LAREDO, TX (FHA|USDA|VA) 1 $275,000 $275,000 $3,505 3.88%
SPARTANBURG, SC (FHA|USDA|VA) 1 $265,000 $265,000 $5,032 4.38%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $265,000 $265,000 $3,937 3.00%
GREELEY, CO (FHA|USDA|VA) 1 $255,000 $255,000 $2,695 4.13%
ODESSA, TX (FHA|USDA|VA) 1 $255,000 $255,000 $5,242 3.99%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $235,000 $235,000 $2,071 4.87%
COLUMBIA, SC (FHA|USDA|VA) 1 $225,000 $225,000 $2,490 4.75%
First Mortgage Solutions's top markets include Washington, Dallas, Houston, Atlanta, and Austin among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 675 $302,795,000 $448,585 $4,971 3.72%
    VA 126 $68,420,000 $543,016 $12,087 3.15%
    FHA 17 $6,715,000 $395,000 $10,930 3.41%

    For 2022, First Mortgage Solutions's most frequently originated type of loan was Conventional, with 675 originations. Their 2nd most popular type was VA, with 126 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 553 $257,075,000 $464,873 $6,770 3.77%
    Cash Out Refi 188 $83,440,000 $443,830 $5,596 3.45%
    Refi 77 $37,415,000 $485,909 $3,515 3.06%

    For 2022, First Mortgage Solutions's most frequently cited loan purpose was Home Purchase, with 553 originations. The 2nd most popular reason was Cash Out Refi, with 188 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 732 $340,620,000 $465,328 $6,383 3.69%
    15 Year 63 $26,775,000 $425,000 $4,839 3.17%
    20 Year 19 $8,505,000 $447,632 $4,018 3.10%
    10 Year 3 $1,505,000 $501,667 $2,981 2.29%
    Other 1 $525,000 $525,000 $1,778 2.75%

    For 2022, First Mortgage Solutions's most frequently cited loan duration was 30 Year, with 732 originations. The 2nd most popular length was 15 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 523 $243,245,000 $465,096
    $1k-2k 90 $37,950,000 $421,667
    $5k+ 86 $46,940,000 $545,814
    $2k-3k 57 $22,135,000 $388,333
    $3k-4k 35 $15,795,000 $451,286
    $4k-5k 27 $11,865,000 $439,444

    First Mortgage Solutions's average total fees were $6,383, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 523 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 349 $160,455,000 $459,756
    4-5% 183 $78,535,000 $429,153
    2.5-3% 171 $87,025,000 $508,918
    <2.5% 63 $33,695,000 $534,841
    5-6% 49 $16,985,000 $346,633
    6-7% 3 $1,235,000 $411,667

    During 2022, First Mortgage Solutions's average interest rate for loans was 3.69%, while their most frequently originated rate bucket for loans was 3-4%, with 349 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 368 $181,010,000 $491,875 $6,239 3.49%
    $200k-400k 284 $91,620,000 $322,606 $4,927 3.85%
    $600k-1MM 132 $90,290,000 $684,015 $8,422 3.44%
    $100k-200k 23 $3,455,000 $150,217 $3,102 4.17%
    $1MM+ 8 $11,290,000 $1,411,250 $22,120 3.09%
    $100,000 or less 3 $265,000 $88,333 $3,453 4.87%

    2022 saw First Mortgage Solutions place emphasis on $400k-600k loans with 368 originations, totaling $181,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 281 $140,445,000 $499,804 $6,184 3.62%
    $100k-150k 254 $114,860,000 $452,205 $6,153 3.63%
    $250k+ 114 $62,440,000 $547,719 $6,914 3.71%
    $75k-100k 109 $41,785,000 $383,349 $6,089 3.62%
    $50k-75k 48 $14,720,000 $306,667 $5,446 3.58%
    $50k or less 12 $3,680,000 $306,667 $4,324 3.37%

    First Mortgage Solutions lent most frequently to those with incomes in the $150k-250k range, with 281 originations. The second most popular income band? $100k-150k, with 254 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 171 $76,705,000 $448,567 $5,283 3.47%
    30-36% 142 $67,820,000 $477,606 $5,480 3.63%
    <20% 41 $16,065,000 $391,829 $4,929 3.52%
    50-60% 40 $20,990,000 $524,750 $14,498 3.35%
    44% 39 $18,325,000 $469,872 $6,162 3.88%
    49% 35 $17,495,000 $499,857 $9,197 3.59%
    39% 35 $16,445,000 $469,857 $4,419 4.09%
    40% 34 $14,860,000 $437,059 $5,581 3.59%
    42% 30 $13,320,000 $444,000 $6,226 3.84%
    36% 30 $13,440,000 $448,000 $7,143 3.41%
    38% 29 $14,875,000 $512,931 $5,466 3.83%
    45% 29 $11,695,000 $403,276 $6,026 3.93%
    43% 29 $13,515,000 $466,034 $4,826 3.66%
    41% 28 $12,090,000 $431,786 $6,096 3.46%
    46% 26 $12,890,000 $495,769 $7,530 3.74%
    37% 26 $13,360,000 $513,846 $7,275 3.82%
    47% 23 $9,515,000 $413,696 $5,223 3.65%
    48% 22 $10,110,000 $459,545 $5,394 3.86%
    >60% 9 $4,415,000 $490,556 $3,060 3.04%

    First Mortgage Solutions lent most frequently to those with DTI ratios of 20-30%, with 171 originations. The next most common DTI ratio? 30-36%, with 142 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 446 $200,610,000 $449,798 $6,147 3.69%
    Not provided 211 $98,505,000 $466,848 $6,016 3.67%
    Asian 119 $60,225,000 $506,092 $6,327 3.42%
    Black 33 $14,915,000 $451,970 $7,512 3.53%
    American Indian 9 $3,675,000 $408,333 $5,977 2.96%

    Approval Rates

    Total approvals of all applications
    91.70%

    First Mortgage Solutions has an average approval rate.

    Pick Rate

    Approvals leading to origination
    26.89%

    First Mortgage Solutions 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 818 $377,930,000 $462,017

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    818 $377,930,000 $462,017

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $8,770,000 $438,500 $4,963 3.11%
    40-60% 87 $35,725,000 $410,632 $4,401 3.37%
    60-80% 311 $138,775,000 $446,222 $5,505 3.77%
    80-100% 366 $175,920,000 $480,656 $5,906 3.64%
    Over 100% 32 $18,130,000 $566,563 $21,984 3.13%
    Under 20% 2 $610,000 $305,000 $2,675 3.69%

    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%