# FIRST SOURCE

> **Canonical URL:** https://saferate.com/lenders/first-source


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


FIRST SOURCE is a credit union, headquartered in New Hartford, NY, with 149 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 62% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 21% for loan approval success

## Overview

- **Institution Type:** Credit Union
- **LEI (Legal Entity Identifier):** 549300NBSU5FHMDN5F74
- **Headquarters:** New Hartford, NY
- **Geographic Reach:** Single State
- **States Served:** 1
- **State List:** NY
- **Markets (MSAs):** 1
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 38/100
- Rating: ●●○○○ (2/5)

### Pull Through: Strong 😀
- Score: 79/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** +0.044%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,015
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 149
- **Dollar Volume:** $26 million
- **Applications Received:** 201
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $176,074
- **Average Borrower Income:** $100,510
- **Average Property Value:** $251,107

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 60/100 | 149 | +0.044% | $1,015 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 75 loans, Score: 51/100 (Sound)
- Refinance: 74 loans, Score: 70/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 50/100 | 75 | $16M | +0.041% | Sound ☺️ |
| Refinance | 68/100 | 74 | $11M | +0.064% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| NY | 149 | 0.13% | 72/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Utica | NY | 138 | 96/100 |

## Where This Lender Ranks

FIRST SOURCE appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥉 **#3** in Utica Credit Unions
  - [View Full Rankings](https://saferate.com/utica/best-mortgage-lenders/credit-unions)
- 🏆 **#5** in Utica for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/utica/best-mortgage-lenders/credit-unions/conventional-loans)
- 🏆 **#16** in Utica
  - [View Full Rankings](https://saferate.com/utica/best-mortgage-lenders)
- 🏆 **#18** in Utica for Conventional Loans
  - [View Full Rankings](https://saferate.com/utica/best-mortgage-lenders/conventional-loans)

## Frequently Asked Questions

### What loan types does FIRST SOURCE offer?

FIRST SOURCE offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does FIRST SOURCE offer mortgages?

FIRST SOURCE offers mortgages in 1 states: NY.

### How competitive are FIRST SOURCE's mortgage rates?

FIRST SOURCE has a pricing score of 38/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.044% above market average.

### What type of lender is FIRST SOURCE?

FIRST SOURCE is a member-owned financial cooperative that typically offers competitive rates to its members, headquartered in New Hartford, NY.

### What is FIRST SOURCE's loan approval success rate?

FIRST SOURCE has a pull-through score of 79/100 (Strong). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/first-source

### How to Cite

> "FIRST SOURCE Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/first-source

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