First Community Mortgage Interest Rate and Cost Review

Is First Community 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 Community Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of First Community Mortgage nationally:

Review ItemFirst Community Mortgage
Interest Ratesimilar to other lenders (+0.01%)
Loan Related Closing Costssimilar to other lenders (+$118)
National Rate and Closing Cost Star Rating(3.5)

On average, First Community Mortgage’s interest rates were similar to those of other lenders (+0.01%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$118. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First Community Mortgage, check out its website at:

First Community 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 Community Mortgage was most active in:

  1. Nashville, TN
  2. Kansas City, MO
  3. Shelbyville, TN
  4. Knoxville, TN
  5. Des Moines, IA

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

  1. Shelbyville, TN, for Jumbo mortgages
  2. Columbia, TN, for VA mortgages
  3. Mountain Home, AR, for VA mortgages
  4. Alamogordo, NM, overall

First Community 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 Community 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+0.07%-0.04%+0.03%-0.00%-0.05%
Loan Related Closing Cost Difference+$191+$322+$96+$1-$18
Cost Adjusted Rate Difference+0.08%-0.02%+0.03%-0.00%-0.05%
National Star Rating(3)(3.5)(3.5)(3.5)(4)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.01%-0.04%+0.02%-0.00%+0.00%
Loan Related Closing Cost Difference-$108-$145+$201-$4-$57
Cost Adjusted Rate Difference-0.01%-0.05%+0.02%-0.00%-0.00%
Average Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)

As a summary, First Community Mortgage is cheap for VA purchase mortgages. It is similar to other lenders for FHA, Jumbo and USDA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing, First Community Mortgage is similar to other lenders for Conforming, 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 Community Mortgage:

Registered name: First Community Mortgage Inc
Registered city and state: MURFREESBORO, TN, 37129
Regulator: Federal Deposit Insurance Corporation (FDIC)

* 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 Community 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.