First Mortgage Solutions Rates, Fees & Info
LEES SUMMIT, MOLEI: 549300V1JRN7CMTCF305
Tax ID: 20-8802502
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Mortgage Data
Review & Overview
First Mortgage Solutions is a smaller mortgage company specializing in Home Purchase loans. First Mortgage Solutions 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: Kansas City, Atlanta, Los Angeles, Washington, and Seattle among others. We have data for 118 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.32% | 11/22/24 |
| 30 Year Conventional Refi | 6.09% | 11/22/24 |
| 30 Year Cash-out Refi | 6.36% | 11/22/24 |
| 30 Year FHA Purchase | 7.02% | 11/22/24 |
| 30 Year VA Purchase | 5.70% | 11/22/24 |
| 30 Year VA Refi | 5.47% | 11/22/24 |
| 15 Year Conventional Purchase | 5.57% | 11/22/24 |
| 15 Year Conventional Refi | 5.62% | 11/22/24 |
| 15 Year Cash-out Refi | 5.62% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
776Origination Dollar Volume (All Markets)
$235,290,000Awards
First Mortgage Solutions - 2018
First Mortgage Solutions is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 235 | $45,165,000 | $192,191 | $3,503 | 4.80% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 33 | $12,805,000 | $388,030 | $7,226 | 4.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 18 | $11,050,000 | $613,889 | $7,961 | 4.28% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 22 | $10,350,000 | $470,455 | $7,000 | 3.99% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 16 | $8,150,000 | $509,375 | $7,464 | 4.01% |
| MANHATTAN, KS (FHA|USDA|VA) | 37 | $6,915,000 | $186,892 | $3,800 | 4.55% |
| LAWRENCE, KS (FHA|USDA|VA) | 30 | $6,830,000 | $227,667 | $2,576 | 4.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 12 | $6,470,000 | $539,167 | $7,425 | 4.18% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 9 | $6,435,000 | $715,000 | $7,163 | 4.28% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 17 | $6,155,000 | $362,059 | $8,920 | 4.07% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 15 | $5,965,000 | $397,667 | $9,984 | 4.23% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 13 | $5,735,000 | $441,154 | $5,581 | 3.96% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 14 | $4,590,000 | $327,857 | $7,356 | 4.08% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 15 | $4,205,000 | $280,333 | $6,383 | 4.49% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 11 | $4,045,000 | $367,727 | $6,623 | 4.15% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 5 | $3,905,000 | $781,000 | $6,709 | 4.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 9 | $3,895,000 | $432,778 | $7,412 | 4.19% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $3,490,000 | $349,000 | $8,439 | 4.36% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 9 | $3,475,000 | $386,111 | $6,883 | 4.42% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 15 | $3,465,000 | $231,000 | $5,640 | 4.70% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $3,440,000 | $430,000 | $9,314 | 4.23% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 9 | $3,165,000 | $351,667 | $6,457 | 4.08% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 9 | $3,095,000 | $343,889 | $3,034 | 4.24% |
| Outside of Metro Areas | 18 | $3,080,000 | $171,111 | $4,737 | 4.71% |
| TOPEKA, KS (FHA|USDA|VA) | 21 | $2,915,000 | $138,810 | $3,363 | 5.24% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 6 | $2,120,000 | $353,333 | $6,769 | 4.19% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,965,000 | $655,000 | $3,616 | 4.38% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $1,955,000 | $391,000 | $10,687 | 4.15% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $1,915,000 | $383,000 | $7,748 | 4.08% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 4 | $1,810,000 | $452,500 | $6,307 | 3.97% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,780,000 | $890,000 | $4,648 | 4.56% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $1,755,000 | $351,000 | $6,053 | 4.35% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 4 | $1,690,000 | $422,500 | $8,341 | 4.16% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,590,000 | $397,500 | $8,390 | 4.00% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 2 | $1,560,000 | $780,000 | $13,869 | 3.81% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 5 | $1,465,000 | $293,000 | $6,395 | 4.10% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $4,480 | 4.21% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $3,364 | 4.06% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $7,385 | 4.17% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $11,750 | 3.83% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $9,248 | 3.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $5,842 | 4.31% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $7,718 | 4.17% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $2,718 | 3.31% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $4,047 | 4.38% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $1,688 | 5.93% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $9,190 | 3.56% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $7,661 | 3.94% |
| Oak Harbor, WA (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $7,088 | 4.13% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $9,961 | 3.75% |
| Key West, FL (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $6,083 | 4.13% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $7,602 | 4.29% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $7,971 | 4.00% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $4,329 | 5.00% |
| Atchison, KS (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $2,996 | 4.53% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $9,752 | 4.19% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $12,923 | 5.13% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $7,611 | 4.13% |
| BEND, OR (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $5,957 | 4.13% |
| Ottawa, KS (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $2,423 | 5.38% |
| MADERA, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,391 | 4.13% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,855 | 3.75% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $2,939 | 4.83% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $19,408 | 4.13% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,060 | 5.13% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $14,060 | 4.50% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,680 | 3.88% |
| Lumberton, NC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $12,260 | 3.25% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,142 | 4.88% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,779 | 4.50% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,434 | 4.19% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,955 | 4.75% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,682 | 5.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,596 | 4.25% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $7,337 | 4.69% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,181 | 3.63% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $6,769 | 5.00% |
| Sikeston, MO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $10,113 | 4.75% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,085 | 4.56% |
| Rolla, MO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,915 | 4.38% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,733 | 4.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $11,041 | 4.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $6,563 | 4.56% |
| Granbury, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,784 | 4.50% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,480 | 4.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,072 | 4.50% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,823 | 4.25% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,629 | 4.13% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $14,101 | 3.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,940 | 4.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,827 | 3.75% |
| Wilson, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $13,458 | 3.88% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $15,900 | 4.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,308 | 4.75% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,476 | 4.25% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $12,209 | 4.25% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,559 | 3.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,902 | 3.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,208 | 4.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,836 | 5.13% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,207 | 4.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,582 | 4.88% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,697 | 3.88% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,275 | 4.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,646 | 4.25% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,940 | 4.75% |
| Branson, MO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,329 | 4.75% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,953 | 4.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,779 | 4.00% |
| Lebanon, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,858 | 5.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,165 | 4.38% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,420 | 4.63% |
| WACO, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,018 | 5.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,542 | 5.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,450 | 3.63% |
| Salina, KS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,342 | 4.88% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,944 | 5.13% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,843 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Mortgage Solutions 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 2018, First Mortgage Solutions's most frequently originated type of loan was Conventional, with 420 originations. Their 2nd most popular type was VA, with 227 originations.
Loan Reason
For 2018, First Mortgage Solutions's most frequently cited loan purpose was Home Purchase, with 567 originations. The 2nd most popular reason was Cash Out Refi, with 132 originations.
Loan Duration/Length
For 2018, First Mortgage Solutions's most frequently cited loan duration was 30 Year, with 721 originations. The 2nd most popular length was 15 Year, with 45 originations.
Origination Fees/Closing Costs
First Mortgage Solutions's average total fees were $5,583, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 475 originations.
Interest Rates
During 2018, First Mortgage Solutions's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 4-5%, with 442 originations.
Loan Sizing
2018 saw First Mortgage Solutions place emphasis on $200k-400k loans with 319 originations, totaling $92,885,000 in origination value.
Applicant Income
First Mortgage Solutions lent most frequently to those with incomes in the $100k-150k range, with 210 originations. The second most popular income band? $50k-75k, with 166 originations.
Applicant Debt to Income Ratio
First Mortgage Solutions lent most frequently to those with DTI ratios of 30-36%, with 133 originations. The next most common DTI ratio? 20-30%, with 125 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.50%
First Mortgage Solutions has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination55.67%
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 |
|---|---|---|---|
| 295.0 | 1 | $65,000 | $65,000 |
| NA | 775 | $235,225,000 | $303,516 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 776 | $235,290,000 | $303,209 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST MORTGAGE CORPORATION | FHA mortgage | Closing on a mortgage | 1 | 100.0% |