Consumer First Mortgage Rates, Fees & Info

NORTHPORT, AL

LEI: 549300XHEKTWE48VS407

Tax ID: 63-1254889

5 stars - Updated: 3/27/24 - out of 5 stars, based on 12 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Consumer First Mortgage is a smaller mortgage company specializing in Home Purchase loans. Consumer First Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Florence, Decatur, Tuscaloosa, Montgomery, and Birmingham among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Consumer First Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Consumer First Mortgage 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 relatively high 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 6.91% 3/27/24
30 Year Conventional Refi 6.61% 3/27/24
30 Year FHA Purchase 7.53% 3/27/24
30 Year FHA Refi 7.45% 3/27/24
30 Year VA Purchase 6.68% 3/27/24
30 Year VA Refi 6.27% 3/27/24
30 Year USDA Purchase 6.99% 3/27/24
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.

Consumer First Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Consumer First Mortgage. 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

150

Origination Dollar Volume (All Markets)

$28,010,000

Awards

Consumer First Mortgage VA Loans gold
Show all (1) awards

Relative Rate

Consumer First Mortgage's average 30 year fixed mortgage rate was 6.63%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

Consumer First Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $6,662.

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
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 29 $4,875,000 $168,103 $6,618 6.76%
Outside of Metro Areas 28 $3,840,000 $137,143 $5,710 6.62%
DECATUR, AL (FHA|USDA|VA) 13 $2,505,000 $192,692 $5,318 6.74%
TUSCALOOSA, AL (FHA|USDA|VA) 11 $2,385,000 $216,818 $7,299 6.42%
MONTGOMERY, AL (FHA|USDA|VA) 11 $2,045,000 $185,909 $6,437 6.52%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 9 $1,895,000 $210,556 $5,678 6.54%
HUNTSVILLE, AL (FHA|USDA|VA) 6 $1,740,000 $290,000 $9,708 6.35%
MOBILE, AL (FHA|USDA|VA) 8 $1,620,000 $202,500 $7,009 6.87%
Cullman, AL (FHA|USDA|VA) 5 $1,355,000 $271,000 $8,925 6.63%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 5 $1,115,000 $223,000 $8,917 6.60%
Fort Payne, AL (FHA|USDA|VA) 5 $875,000 $175,000 $6,185 6.35%
Scottsboro, AL (FHA|USDA|VA) 3 $445,000 $148,333 $6,667 6.83%
Selma, AL (FHA|USDA|VA) 2 $440,000 $220,000 $8,460 6.88%
Talladega-Sylacauga, AL (FHA|USDA|VA) 2 $430,000 $215,000 $7,518 5.88%
Ozark, AL (FHA|USDA|VA) 2 $410,000 $205,000 $8,560 6.12%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $385,000 $385,000 $21,715 5.75%
GADSDEN, AL (FHA|USDA|VA) 3 $375,000 $125,000 $4,872 6.71%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $285,000 $285,000 $7,060 7.38%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $255,000 $255,000 $4,512 6.50%
Eufaula, AL-GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,954 7.50%
PANAMA CITY, FL (FHA|USDA|VA) 1 $175,000 $175,000 $6,982 5.88%
Albertville, AL (FHA|USDA|VA) 1 $145,000 $145,000 $3,811 7.63%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $125,000 $125,000 $4,177 6.50%
Jasper, AL (FHA|USDA|VA) 1 $105,000 $105,000 $4,867 7.25%
Consumer First Mortgage's top markets include Florence, Decatur, Tuscaloosa, Montgomery, and Birmingham among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Consumer First Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TVA Community Credit Union
    Similarity Rank: 24
    AOD Federal Credit Union
    Similarity Rank: 40
    Listerhill Credit Union
    Similarity Rank: 85
    New Horizons Credit Union
    Similarity Rank: 156
    DSLD MORTGAGE, LLC
    Similarity Rank: 198
    MAX Credit Union
    Similarity Rank: 288
    Consumer First Mortgage, Inc.
    Similarity Rank: 336
    Liberty Mortgage Corporation
    Similarity Rank: 348
    Mutual Savings Credit Union
    Similarity Rank: 360
    CB&S Bank, Inc.
    Similarity Rank: 370

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $13,550,000 $188,194 $5,127 6.60%
    FHA 60 $11,150,000 $185,833 $8,619 6.64%
    VA 11 $2,225,000 $202,273 $6,059 6.90%
    USDA 7 $1,085,000 $155,000 $6,630 6.38%

    For 2023, Consumer First Mortgage's most frequently originated type of loan was Conventional, with 72 originations. Their 2nd most popular type was FHA, with 60 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 132 $24,660,000 $186,818 $6,743 6.62%
    Refi 18 $3,350,000 $186,111 $6,074 6.66%

    For 2023, Consumer First Mortgage's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 150 $28,010,000 $186,733 $6,662 6.63%

    For 2023, Consumer First Mortgage's most frequently cited loan duration was 30 Year, with 150 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 54 $8,520,000 $157,778
    $3k-4k 36 $7,560,000 $210,000
    $1k-2k 28 $3,200,000 $114,286
    $4k-5k 16 $3,530,000 $220,625
    $5k+ 15 $5,115,000 $341,000
    $<1k 1 $85,000 $85,000

    Consumer First Mortgage's average total fees were $6,662, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 54 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 107 $19,385,000 $181,168
    7-8% 29 $5,065,000 $174,655
    5-6% 13 $3,275,000 $251,923
    4-5% 1 $285,000 $285,000

    During 2023, Consumer First Mortgage's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 81 $12,375,000 $152,778 $5,904 6.64%
    $200k-400k 47 $12,075,000 $256,915 $8,549 6.56%
    $100,000 or less 18 $1,370,000 $76,111 $4,155 6.74%
    $400k-600k 2 $880,000 $440,000 $7,325 6.49%
    $600k-1MM 2 $1,310,000 $655,000 $14,940 6.69%

    2023 saw Consumer First Mortgage place emphasis on $100k-200k loans with 81 originations, totaling $12,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $8,545,000 $174,388 $6,283 6.59%
    $50k or less 47 $5,675,000 $120,745 $5,615 6.64%
    $75k-100k 28 $5,600,000 $200,000 $7,014 6.61%
    $100k-150k 18 $5,440,000 $302,222 $7,865 6.76%
    $150k-250k 8 $2,750,000 $343,750 $11,204 6.53%

    Consumer First Mortgage lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $50k or less, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 22 $3,590,000 $163,182 $5,726 6.73%
    50-60% 19 $3,935,000 $207,105 $9,050 6.66%
    20-30% 19 $2,565,000 $135,000 $4,541 6.58%
    39% 9 $1,865,000 $207,222 $6,512 6.83%
    41% 8 $1,750,000 $218,750 $7,245 6.47%
    48% 8 $2,030,000 $253,750 $7,262 6.55%
    43% 8 $1,430,000 $178,750 $7,049 6.94%
    44% 7 $1,255,000 $179,286 $5,690 6.68%
    42% 6 $860,000 $143,333 $5,280 6.67%
    37% 6 $1,000,000 $166,667 $5,601 6.31%
    38% 6 $1,060,000 $176,667 $6,401 6.56%
    40% 6 $1,050,000 $175,000 $6,199 6.81%
    45% 6 $1,950,000 $325,000 $11,314 6.39%
    46% 5 $1,055,000 $211,000 $6,513 6.43%
    47% 5 $835,000 $167,000 $7,667 6.88%
    36% 5 $1,085,000 $217,000 $8,447 6.52%
    49% 3 $535,000 $178,333 $4,983 6.33%
    <20% 2 $160,000 $80,000 $3,721 6.13%

    Consumer First Mortgage lent most frequently to those with DTI ratios of 30-36%, with 22 originations. The next most common DTI ratio? 50-60%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $23,745,000 $186,969 $6,769 6.65%
    Black 22 $4,100,000 $186,364 $6,097 6.52%
    Not provided 1 $165,000 $165,000 $5,609 6.25%

    Approval Rates

    Total approvals of all applications
    94.25%

    Consumer First Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    99.33%

    Consumer First Mortgage has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 150 $28,010,000 $186,733

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    150 $28,010,000 $186,733

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $430,000 $107,500 $3,891 6.63%
    40-60% 6 $1,060,000 $176,667 $5,299 6.37%
    60-80% 29 $5,615,000 $193,621 $5,890 6.65%
    80-100% 110 $20,730,000 $188,455 $7,011 6.63%
    Over 100% 1 $175,000 $175,000 $10,031 7.25%