First Savings Mortgage Corporation

What First Savings Mortgage Corporation does

First Savings Mortgage Corporation is a privately owned residential mortgage lender founded in 1989 and headquartered in McLean, Virginia. The company originates and processes conventional, FHA, VA, USDA, jumbo, low down payment jumbo, bridge, renovation, home equity, asset depletion, and pledged asset mortgage products for individual homebuyers, homeowners refinancing existing mortgages, and real estate investors across the Mid-Atlantic and Southeast, with active lender licenses in Virginia, Maryland, Washington D.C., Florida, Delaware, North Carolina, and South Carolina. Itself self-describes as the largest privately owned residential mortgage lender in the Washington metropolitan area.

The company operates a hybrid distribution model that combines a network of 45+ loan officers across multiple branch locations (McLean/Tysons, Washington D.C., North Bethesda) with a direct-to-consumer digital channel comprising the SimpleNexus-powered mobile application on iOS and Android and the HomeHub web portal for application submission, document upload, loan status tracking, e-signature, and instant messaging. Loan officer productivity is reported at average annual volumes exceeding $40M per LO, over three times industry average, supported by referral partnerships with real estate agents, title attorneys, builders, accountants, and financial planners.

Revenue is generated transactionally through mortgage origination fees and gain-on-sale economics, with originated loans sold into the secondary market via Fannie Mae, Freddie Mac, FHA, VA, and USDA channels. Underwriting, processing, closing, and post-closing functions are performed in-house, supporting differentiated turnaround versus bank competitors. The technology stack relies on the SimpleNexus third-party platform rather than proprietary AI-driven systems, and the company operates without disclosed external institutional funding, M&A activity, or public market exposure.

Name

First Savings Mortgage Corporation

Legal name

First Savings Mortgage Corporation

Website

https://firstsavingsmortgage.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

First Savings Mortgage Corporation is a privately owned residential mortgage lender founded in 1989, originating conventional, FHA, VA, USDA, jumbo, and specialty mortgage products for individual homebuyers and investors across the Mid-Atlantic and Southeast via 45+ loan officers and a digital channel.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Real Estate Credit (522292), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)

akta.pro primary industry

Bank Branch / Retail Purchase Mortgages (FSALAAAA)

akta.pro secondary industries

Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI), First-Time Homebuyer (FTHB) Mortgage Origination (FSALAAAG), Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL), Closed-End Home Equity Loans (Second Mortgages) (FSALAGAA)

Keywords

• Residential mortgage lending
• Home purchase loans
• Mortgage refinancing
• FHA and VA loans
• Jumbo loan programs

Headquarters

HQ city

Mclean

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Mortgage Origination: First Savings Mortgage generates revenue primarily through originating mortgage loans. As a privately owned residential mortgage lender, they earn fees and interest income from the loans they originate. They offer conventional loans, FHA loans, VA loans, jumbo loans, bridge loans, and other specialized mortgage products.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

First Savings Mortgage Corporation originates and processes residential mortgage loans for individual homebuyers and homeowners across the Mid-Atlantic region. Its portfolio spans conventional, FHA, VA, USDA, and jumbo loan products (including a Low Down Payment Jumbo program), supplemented by bridge, renovation, home equity, asset depletion, and pledged asset loans. A 45+ loan officer branch network delivers the products, supported by an in-house SimpleNexus-powered mobile app and HomeHub online application portal that streamline application, document upload, secure messaging, and electronic disclosures.

Product overview

First Savings Mortgage Corporation operates as a comprehensive residential mortgage lender offering a diverse portfolio of loan products and digital mortgage tools. The core lending business includes conventional loans (fixed and adjustable rate), government-backed products (FHA, VA, USDA), and jumbo loan options including their specialized Low Down Payment (LDP) Jumbo program. Beyond primary mortgage products, they offer supplementary financing solutions such as bridge loans, renovation loans, home equity products, asset depletion loans, and pledged asset loans. The company also provides specialized first-time homebuyer programs and state-specific products including Virginia Housing and DC Open Doors programs. The technology platform includes a mobile app (SimpleNexus-powered) and web portal enabling end-to-end digital mortgage processing including applications, document uploads, secure messaging, and e-signatures. The product architecture is organized around loan officer-guided mortgage origination supported by in-house processing, underwriting, and closing operations across Mid-Atlantic states.

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Loans Home loans not insured or guaranteed by the federal government, backed by private lenders following Fannie Mae and Freddie Mac guidelines. Available as fixed-rate and adjustable-rate options with terms from 10 to 40 years, for individual homebuyers and homeowners.
• FHA Mortgages Federal Housing Administration insured home loans with flexible qualification requirements, featuring down payments as low as 3.5% for borrowers with credit scores of 580 or higher, competitive interest rates, and assumable loan terms.
• VA Loans U.S. Department of Veterans Affairs backed mortgage loans for eligible veterans, service members, and surviving spouses, offering 0% down payment options, lower interest rates, and no private mortgage insurance requirements.
• LDP Jumbo Loans (Low Down Payment Jumbo) Jumbo mortgage loans with low down payment options: 5% down up to $1.5 million, 10.01% down up to $5 million, and 15% down up to $3 million. Fixed rate and ARM options available, primary residences only.
• High-Balance & Jumbo Loans High-balance mortgages exceeding standard conforming loan limits but within high-cost area limits, backed by Fannie Mae and Freddie Mac, plus jumbo mortgages exceeding high-balance limits that are privately funded with stricter underwriting standards.
• Bridge Financing Short-term loans designed to bridge the gap between purchasing a new home and selling an existing one, allowing buyers to purchase before closing on their old home, secured on existing property equity with terms typically around six months.
• Renovation Loans Loans that use the expected worth of the home after renovations to offer appropriate financing for homebuyers purchasing properties that need repairs or improvements.
• Home Equity Loans and Lines of Credit Loans using the home as collateral, allowing borrowers to access a lump sum or revolving credit at fixed interest rates over set periods, leveraging accumulated equity in the property.
• Asset Depletion Loans Loans that use a person's total assets instead of traditional income documentation to determine loan eligibility, suitable for self-employed individuals or those with non-traditional income sources.
• Pledged Asset Loans Loans that use a person's securities or investments as a down payment without requiring the assets to be sold, preserving investment portfolios while accessing home financing.
• First-Time Homebuyer Programs Specialized loan programs and guidance for first-time homebuyers, including education on the home buying process, down payment assistance options, and access to community lending programs.
• Refinance Loans Mortgage refinancing options allowing homeowners to restructure their existing mortgages, potentially lowering interest rates, changing loan terms, or accessing home equity.
• Fixed-Rate Mortgages Mortgages with interest rates that remain constant throughout the loan term, providing payment predictability. Available in 15, 20, 30, and 40-year terms with the 30-year option being most popular.
• Virginia Housing Programs State-specific housing finance programs available in Virginia, including down payment assistance and favorable loan terms for eligible Virginia residents.
• DC Open Doors Program District of Columbia housing program providing financing options for DC residents, with down payment assistance and competitive rates for qualified homebuyers in Washington D.C.

Named customers3 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Fannie MaecoreTechnology or IntegrationFirst Savings originates loans that conform to Fannie Mae guidelines for conventional mortgage products. This partnership allows the company to offer conventional loans with competitive terms and sell loans on the secondary market.
• Freddie MaccoreTechnology or IntegrationFirst Savings offers conventional loan products meeting Freddie Mac underwriting guidelines. Loans can be sold to Freddie Mac on the secondary mortgage market.
• Federal Housing Administration (FHA)coreTechnology or IntegrationFirst Savings is an approved FHA lender offering FHA-insured mortgages with flexible down payment requirements (as low as 3.5%) and credit score qualifications.
• U.S. Department of Veterans Affairs (VA)coreTechnology or IntegrationFirst Savings is a VA-approved lender offering VA home loans to eligible veterans, service members, and surviving spouses with benefits including no down payment requirement and competitive interest rates.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• loanDepot: Top-5 US retail mortgage lender offering conventional, government, and HELOC products with both retail branch and digital origination. Direct competitor for refinance and purchase volume across First Savings' footprint.
• United Wholesale Mortgage (UWM): Largest US wholesale mortgage lender, partnering with independent mortgage brokers. While UWM operates in a wholesale channel rather than retail, it competes for similar borrower flow and pressures retail margins through broker-channel competition.
• Rocket Mortgage: Largest US retail mortgage lender offering the full suite of conventional, FHA, VA, and jumbo products primarily through a digital-first channel. Competes for the same borrowers nationwide, but with much broader scale and a fundamentally different technology-led delivery model.
• Guaranteed Rate: National retail mortgage lender offering FHA, VA, conventional, and jumbo loans with a hybrid branch + digital model. Comparable product mix with substantially broader geographic reach.

Direct peers

• Cardinal Financial Company: Privately-held residential mortgage lender headquartered in Virginia that originates FHA, VA, conventional, and jumbo loans via retail branch networks. Directly comparable geographic footprint and product portfolio.
• Embrace Home Loans: Mid-Atlantic-headquartered (Newport News, VA) private residential mortgage lender operating across similar East Coast states with comparable retail branch and loan officer model. Both target the same geography and offer similar FHA/VA/conventional/jumbo mix to first-time and repeat buyers.
• NewRez (formerly New Penn Financial): National residential mortgage lender with strong East Coast/Mid-Atlantic presence offering FHA, VA, conventional, and non-QM products through retail and wholesale channels. Comparable product breadth and borrower targeting.
• HomeTrust Mortgage: Mid-sized regional residential mortgage lender offering FHA, VA, conventional, and jumbo products with branch-based loan officer distribution across multiple states. Closely comparable in scale, product mix, and customer segments to First Savings.

Emerging players

• Better.com: Digital-first mortgage lender offering conventional, FHA, and HELOC products entirely online. Represents the emerging end of competition targeting tech-enabled borrowers that could overlap with First Savings' first-time homebuyer segment.

Regional players

• Academy Mortgage: Privately-held retail mortgage lender operating across multiple states with similar branch-and-loan-officer distribution model. Comparable in scale and product mix, with broader but partially overlapping geographic coverage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/firstsavingsmortgage
• LinkedInlinkedin.com/company/first-savings-mortgage
• Instagraminstagram.com/firstsavingsmortgage
• Xx.com/firstsavingsmor

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Savings Mortgage Corporation