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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.32% | 4/28/24 |
| 30 Year Conventional Refi | 6.09% | 4/28/24 |
| 30 Year Cash-out Refi | 6.36% | 4/28/24 |
| 30 Year FHA Purchase | 7.02% | 4/28/24 |
| 30 Year VA Purchase | 5.70% | 4/28/24 |
| 30 Year VA Refi | 5.47% | 4/28/24 |
| 15 Year Conventional Purchase | 5.57% | 4/28/24 |
| 15 Year Conventional Refi | 5.62% | 4/28/24 |
| 15 Year Cash-out Refi | 5.62% | 4/28/24 |
| 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
818Origination Dollar Volume (All Markets)
$377,930,000Awards
First Mortgage Solutions - 2022
First Mortgage Solutions is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| 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% |
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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
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
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
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
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
2022 saw First Mortgage Solutions place emphasis on $400k-600k loans with 368 originations, totaling $181,010,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications91.70%
First Mortgage Solutions has an average approval rate.
Pick Rate
Approvals leading to origination26.89%
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 |
LTV Distribution
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% |