We compare mortgage interest rate and loan related closing costs at 1St Alliance Lending, Llc with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (+0.03%)
Loan Related Closing Costs: similar to average (+$13)
Assessment: this lender tends to be a average cost lender.
This scoreboard is based on data reported to FFIEC. In the data, 1St Alliance Lending, Llc originated 1711 mortgages, a national market share of 0.0%. It was most active in CT (0.1% market share), VT (0.1% market share), and WY (0.1% market share).
On average, 1St Alliance Lending, Llc’s interest rates were similar to those of comparable mortgages at other lenders (+0.03%).1The comparable mortgages control for 1St Alliance Lending, Llc’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $6079, which was similar to those of comparable mortgages at $6066, with a difference of +$13. Overall, we estimate that 1St Alliance Lending, Llc tends to be an average cost lender, with a cost-adjusted-rate difference of +0.03% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with 1St Alliance Lending, Llc.
1St Alliance Lending, Llc originated Conforming, FHA and USDA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from 1St Alliance Lending, Llc compared to other lenders
|Interest Rate Difference||+0.02%||-0.06%||+0.37%|
|Loan related Closing Cost Difference||-$162||+$74||-$64|
|Cost Adjusted Rate Difference||+0.01%||-0.06%||+0.36%|
Based on the table above, 1St Alliance Lending, Llc is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for USDA purchase mortgages.
Other information about 1St Alliance Lending, Llc:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: EAST HARTFORD, CT, 06108