First Option Mortgage
We analyzed every closed loan from First Option Mortgage — 1.7k loans across 2k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Mediocre
1/5
vs. all lenders
Pull-through
Strong
4/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA · Jumbo
Place
Sound
3/5
Near-National · 17 mkts
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 80 basis points above market average
- Higher than average fees ($4,525)
Explore another lender or local market
Report Card
First Option Mortgage performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+79.8 bps above market avg
Pull Through
Closing strength
Strong
Top 40% of lenders
By Loan Product· Specialization by type
Conventional
Strong
Top 40% of lenders
FHA
Strong
Top 40% of lenders
VA
Strong
Top 40% of lenders
Jumbo
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Sound
Top 60% of lenders
By Location· Geographic coverage
Geographic Reach
Near-National · 18 markets
Sound
Top 60% of lenders
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 1,104 | 64.0% | +0.759%Above | $4,520Fees | ||||
FHA Loans | 558 | 32.4% | +0.899%Above | $4,519Fees | ||||
VA Loans | — | 41 | 2.4% | +0.052%Above | $5,501Fees | |||
Jumbo Loans | — | — | 12 | 0.7% | +0.038%Above | $4,080Fees |
Conventional
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume1,104
Mix64.0%
Spread
+0.759%Above
Fees
$4,520Fees
FHA Loans
OverallSound
ProductStrong
PricingMediocre
Pull ThroughStrong
Volume558
Mix32.4%
Spread
+0.899%Above
Fees
$4,519Fees
VA Loans
OverallStrong
ProductStrong
Pricing—
Pull ThroughSound
Volume41
Mix2.4%
Spread
+0.052%Above
Fees
$5,501Fees
Jumbo Loans
OverallStrong
ProductStrong
Pricing—
Pull Through—
Volume12
Mix0.7%
Spread
+0.038%Above
Fees
$4,080Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 1,610 | 93.4% | +0.800%Above | $4,497Fees | ||||
Refinance | 114 | 6.6% | +0.767%Above | $4,988Fees |
Purchase
OverallSound
ProductStrong
PricingMediocre
Pull ThroughStrong
Volume1,610
Mix93.4%
Spread
+0.800%Above
Fees
$4,497Fees
Refinance
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughSound
Volume114
Mix6.6%
Spread
+0.767%Above
Fees
$4,988Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,724
Applications
2,440
Volume
$556 million
Pricing & Closing
Avg Rate Spread
+0.798%
vs. market APOR
Avg Net Fees
$4,525
Origination − Credits
Pullthrough Rate
70.7%
Applications → Closed
Typical Borrower
Avg Loan Amount
$322,836
Avg Borrower Income
$132,682
Avg Property Value
$378,422
Geographic Coverage
Geographic Performance
Metro Areas
17
markets with activity
States Served
25
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
25Northeast2
NJPA
Midwest6
ILINMIMOOHWI
South14
ALARDCFLGAKYLAMDNCOKSCTNTXVA
West3
CACONV
Top Metro Areas by Place Specialization Score
Volume 766Mix 44.43% of portfolio
90/100
Exceptional
Volume 60Mix 3.48% of portfolio
81/100
Exceptional
Volume 146Mix 8.47% of portfolio
77/100
Strong
Volume 47Mix 2.73% of portfolio
74/100
Strong
Volume 131Mix 7.60% of portfolio
70/100
Strong
Volume 54Mix 3.13% of portfolio
60/100
Sound
Volume 23Mix 1.33% of portfolio
59/100
Sound
Volume 57Mix 3.31% of portfolio
56/100
Sound
Volume 32Mix 1.86% of portfolio
54/100
Sound
Volume 19Mix 1.10% of portfolio
50/100
SoundShowing 10 of 17 metro areas
Top States by Place Specialization Score
1
GeorgiaState
Volume 1,045Mix 60.61% of portfolio
87/100
Exceptional2
IndianaState
Volume 180Mix 10.44% of portfolio
67/100
Strong3
TexasState
Volume 188Mix 10.90% of portfolio
63/100
Strong4
NevadaState
Volume 56Mix 3.25% of portfolio
59/100
Sound5
FloridaState
Volume 106Mix 6.15% of portfolio
56/100
Sound6
LouisianaState
Volume 45Mix 2.61% of portfolio
54/100
Sound7
MarylandState
Volume 35Mix 2.03% of portfolio
50/100
Sound8
South CarolinaState
Volume 16Mix 0.93% of portfolio
41/100
SoundHow We Rank Lenders
Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.
Our Point System (Max 30 Points)
10/ 30 pts
Pricing
Rate and fee competitiveness (33%)
10/ 30 pts
Pull Through
Reliability in closing loans (33%)
10/ 30 pts
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.