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
Promptness
Not enough data
—/5
No quote responses measured yet
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
1/5
Pull Through
Closing strength
Strong
Top 40% of lenders
4/5
By Loan Product· Specialization by type
Conventional
1,104 loans · 0.76% above market
Strong
Top 40% of lenders
4/5
FHA
558 loans · 0.90% above market
Strong
Top 40% of lenders
4/5
VA
41 loans · 0.05% above market
Strong
Top 40% of lenders
4/5
Jumbo
12 loans · 0.04% above market
Strong
Top 40% of lenders
4/5
By Loan Purpose· Transaction purpose mix
Purchase
1,610 loans · 0.80% above market
Strong
Top 40% of lenders
4/5
Refinance
114 loans · 0.77% above market
Sound
Top 60% of lenders
3/5
By Location· Geographic coverage
Geographic Reach
Near-National · 18 markets
Sound
Top 60% of lenders
3/5
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
25Full-year 2024 · HMDALoans originated
< 5050–100100–200200+None
Northeast2
NJPA
Midwest6
ILINMIMOOHWI
South14
ALARDCFLGAKYLAMDNCOKSCTNTXVA
West3
CACONV
Top Metro Areas by Place Specialization Score
Showing 10 of 17 metro areas
Top States by Place Specialization Score
How We Rank Lenders
Our rankings use an equal-weight average of scores across the 5 Ps — Pricing, Product, Pull-Through, and Place — with lender promptness blending in as the fifth once a lender has responded to real shopper quote requests.
Our Point System (Max 50 Points)
10/ 50 pts
Pricing
How competitively a lender prices vs. the market benchmark (20%).
10/ 50 pts
Product
Performance on your specific loan type (20%).
10/ 50 pts
Pull Through
How reliably a lender closes the loans it starts (20%).
10/ 50 pts
Place
Depth of a lender's expertise in your local market (20%).
10/ 50 pts
Promptness
How quickly a lender answers real quote requests — blended in once they respond (20%).
Champion(80%+ = 40-50 points)
Superstar(60-79% = 30-39 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.