First Heritage Mortgage Interest Rate and Cost Review

Is First Heritage Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by First Heritage Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of First Heritage Mortgage nationally:

Review ItemFirst Heritage Mortgage
Interest Ratesimilar to other lenders (-0.05%)
Loan Related Closing Costshigher than other lenders (+$288)
National Rate and Closing Cost Star Rating(4)

On average, First Heritage Mortgage’s interest rates were similar to those of other lenders (-0.05%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$288. Overall, combining interest rates and closing costs we estimate that First Heritage Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First Heritage Mortgage, check out its website at:

First Heritage Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track First Heritage Mortgage was most active in:

  1. Washington, DC
  2. Culpeper, VA
  3. Raleigh, NC
  4. Stafford Courthouse, VA
  5. Richmond, VA

In addition, First Heritage Mortgage is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

First Heritage Mortgage’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, First Heritage Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.06%-0.06%+0.02%-0.03%+0.05%
Loan Related Closing Cost Difference+$289+$314+$400+$38+$935
Cost Adjusted Rate Difference-0.09%-0.05%+0.03%-0.03%+0.08%
National Star Rating(4)(3.5)(3.5)(3.5)(3)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.11%+0.02%+0.01%-0.00%+0.05%
Loan Related Closing Cost Difference-$101+$159+$33+$37-$143
Cost Adjusted Rate Difference-0.12%+0.02%+0.01%-0.00%+0.04%
Average Star Rating(4)(3.5)(3.5)(3.5)(3.5)

As a summary, First Heritage Mortgage is cheap for Conforming purchase mortgages. It is similar to other lenders for FHA, Jumbo and USDA purchase mortgages. It is more expensive than other lenders for VA purchase mortgages. For refinancing, First Heritage Mortgage is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo, USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about First Heritage Mortgage:

Registered name: First Heritage Mortgage
Registered city and state: Fairfax, VA, 22030
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for First Heritage Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.