First Heritage Mortgage

What First Heritage Mortgage does

First Heritage Mortgage is a privately held residential mortgage lender headquartered in Fairfax, Virginia, founded in 1996. The company originates and services a comprehensive suite of mortgage products including conventional fixed-rate and adjustable-rate loans, government-backed FHA, VA, and USDA loans, state and local first-time homebuyer programs, construction and renovation financing (including FHA 203(k)), and specialty financing such as DSCR loans for real estate investors, bank statement loans for self-employed borrowers, non-warrantable condo loans, and physician mortgage programs. Operations span 25+ branch locations across 19 states with NMLS Consumer Access registration under company ID #86548 and individual branch-level NMLS IDs. First Heritage is majority-owned by Stanley Martin Homes, a top-25 U.S. homebuilder, for which the firm serves as the exclusive mortgage lender, embedding a structural referral pipeline within the homebuilder's new construction sales.

The company's go-to-market pairs a direct sales model with a relationship-driven partner referral network. Loan officers average more than 15 years of mortgage banking experience, supported by a co-branded partner platform (Mortgage +Plus) and the LoanNow mobile app that extend the lender's brand onto real estate agent and builder websites with CRM-driven lead generation and single-property marketing collateral. Revenue is generated primarily through transaction-based fees on loan origination (gain on sale into the secondary market, including refinances) plus recurring fee income from an in-house loan servicing operation. Marketing is multi-channel — organic content (a multi-page blog), SEO-optimized educational resources, real estate partner referrals, organic social, and the Empower Hour podcast — and the firm maintains multilingual staffing (Spanish, Arabic, Tagalog, Korean, Japanese, Bulgarian) to broaden its addressable consumer base. The firm has been recognized as a Top 50 lender nationwide and the #1 independent mortgage bank by volume in the Washington D.C. metro area, and has received multiple workplace and marketing industry awards.

Operationally, the firm has scaled to 330+ employees under CEO Alex Wish, who joined in 2000 when it was a three-person joint venture. The senior leadership team includes President Steven Lagana (joined June 2024, with prior tenure as President of First Home Mortgage Corporation where he grew closed volume from $1 billion to nearly $6 billion), COO Banks Gatchel, CSO Phil Denfeld (a 25-year FHM veteran who oversees the Stanley Martin relationship), EVP of Capital Markets Bryan Bjerk (joined April 2026, CFA charterholder with a Cornell Machine Learning post-graduate certificate), and other long-tenured executives. The firm is currently executing a planned production leadership transition from EVP Jerry Berry (26+ year leader) to SVP Jenny Kim effective January 1, 2027, and has continued to expand its branch footprint within its existing 19-state licensed perimeter, including a new Columbia, Maryland branch in 2026.

Name

First Heritage Mortgage

Legal name

First Heritage Mortgage, LLC

Website

https://fhmtg.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

First Heritage Mortgage is a privately held residential mortgage lender headquartered in Fairfax, Virginia, offering purchase, refinance, construction, and specialty financing to individual homebuyers across 19 states through 25+ branch offices and a co-branded real estate partner platform.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Purchase Mortgage Origination (Homebuyer Focused) (FSALAAAD)

akta.pro secondary industries

Consumer Direct / Online Mortgage Origination (FSALAAAB), Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL), Closed-End Home Equity Loans (Second Mortgages) (FSALAGAA)

Keywords

• Residential mortgage lending
• Home purchase financing
• Refinance loans
• Construction loans
• Specialty mortgage financing

Headquarters

HQ city

Fairfax

HQ country

United States

HQ region

North America

Offices26 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Mortgage Origination: Primary revenue from originating mortgage loans including purchase mortgages, refinances, construction loans, and specialty financing. Revenue earned through origination fees and gain on sale of loans into the secondary market
2. Loan Servicing: Loan servicing operations generating fee income from managing existing mortgage portfolios. Servicing hours 8:30 AM - 5:00 PM CST with dedicated servicing team
3. Refinance Processing: Revenue from refinancing existing mortgages, including rate-and-term refinances, cash-out refinances, and streamline refinance programs for FHA/VA loans

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

First Heritage Mortgage is a residential mortgage lender that originates and services home purchase, refinance, construction, renovation, and specialty mortgage loans for individual homebuyers and real estate investors across 19 states through 25+ branches and a mobile loan officer network. Revenue is earned through origination fees and gain on sale of loans into the secondary market, with additional fee income from in-house loan servicing. The company also operates a co-branded digital platform, Mortgage +Plus, that supplies real estate partners with marketing tools and the LoanNow mobile app.

Product overview

First Heritage Mortgage offers a comprehensive mortgage lending platform consisting of core home financing products, specialty financing programs, and digital tools. Core products include conventional fixed-rate and adjustable-rate mortgages, government-backed loans (FHA, VA, USDA), and state homebuyer assistance programs for purchase transactions, plus rate-and-term, cash-out, streamline, and HARP refinance options. Construction, bridge, and renovation financing (including FHA 203(k) loans) supports custom builds and home improvements. Specialty products address non-standard situations: DSCR loans for investors, bank statement loans for self-employed borrowers, non-warrantable condo financing, and physician mortgage programs. Digital offerings include the LoanNow mobile app, mortgage calculators, and Freddie Mac/Fannie Mae loan lookup tools. The Mortgage +Plus partner services platform provides marketing tools for referral partners including co-branded websites, video production, CRM-based lead generation, and print collateral.

Differentiator

Problem solved

Functional benefit

Brands

• Mortgage +Plus: A registered mark of First Heritage Mortgage, LLC providing co-branded marketing solutions, technology tools, and partner services for referral partners including LoanNow mobile app, co-branded videos, lead generation campaigns, and single property websites.
• LoanNow

Products and services

• Purchase Mortgage Loans Suite of mortgage loans for homebuyers, including Fixed-Rate Mortgages, Adjustable Rate Mortgages (ARMs), FHA Loans (as low as 3.5% down), VA Loans (zero down, no PMI), USDA Loans (zero down for eligible rural/suburban buyers), and State Homebuyer Programs providing bond programs, down payment assistance, and grants across the lending footprint. Designed for first-time buyers, move-up buyers, downsizers, and investors purchasing primary residences.
• Refinance Mortgage Loans Refinance options for existing homeowners including Rate-and-Term Refinance (lower rate or change loan term), Cash-Out Refinance (access home equity for improvements, debt consolidation, tuition, or investment properties), Streamline Refinance (faster simplified process for qualifying FHA or VA loans), and HARP / Relief Refinance Programs for current borrowers with little to no equity. Closing costs typically 2-5% of loan amount and may be rolled into loan or offset with lender credits.
• Construction, Bridge, and Renovation Loans Construction Loans for building custom homes from the ground up with flexible one-time close (combines construction and permanent financing) or two-time close options; Bridge Loans for short-term financing that allows homeowners to tap current home equity to make a strong offer on their next home before selling; Renovation Loans that roll the cost of home improvements into the mortgage; and FHA 203(k) Renovation Loans with low down payment and flexible credit requirements for financing improvements alongside purchase or refinance.
• Specialty Financing Products Non-QM and specialty financing including DSCR Loans for real estate investors qualifying on property rental income with LLC financing and no cap on number of properties; Bank Statement Loans for self-employed borrowers qualifying on 12 or 24 months of bank statements instead of tax returns; Non-Warrantable Condo Loans up to $2 million for condos not meeting standard warrantable guidelines; and Loans for Medical Professionals allowing qualification using future employment contracts, up to $2 million with zero down and no mortgage insurance.
• Loan Servicing Loan servicing operations generating fee income from managing existing mortgage portfolios. Includes a dedicated servicing team reachable through [email protected] with operations from 8:30 AM to 5:00 PM CST.
• LoanNow Mobile App Mobile application that provides mortgage tools to simplify the home loan journey, offering real-time loan progress monitoring and instant notifications about loan milestones. Available on Apple App Store and Google Play and co-branded for real estate partners.
• Mortgage +Plus Partner Services Marketing services platform for referral partners providing co-branded mobile app (LoanNow), single property websites and flyers, co-branded videos, lead generation campaigns with CRM tools, custom print collateral, and builder marketing toolkit to help real estate partners generate and convert leads.
• Mortgage Calculators Suite Suite of online financial planning tools including mortgage amortization calculator, payoff calculator, refinancing calculator, consolidation calculator, renter affordability calculator, tax savings calculator, and term comparison calculator.

Quantifiable outcome

• Loan officers average more than 15 years of mortgage banking experience
• +1 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Children's Miracle NetworkcoreOthers · 1 January 2014FHM is a national partner since 2021, supporting 49 hospitals across 17 states through the Miracle Lender Program founded in 2014. Loan officers can pledge a percentage of commissions to local Network hospitals on behalf of each customer. Since inception, participating Miracle Lender Program members have contributed nearly $600,000 towards children's hospitals.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fairway Independent Mortgage Corporation: Large independent mortgage bank with a similar branch-based, relationship-driven model across multiple states. Newly hired EVP Capital Markets Bryan Bjerk previously led secondary marketing at Fairway, making it a direct operating-model comparable.
• First Home Mortgage Corporation: Mid-Atlantic-headquartered independent mortgage bank with a comparable product suite (purchase, refi, construction) and similar mid-size scale. FHM President Steven Lagana previously led First Home Mortgage, growing it from $1B to ~$6B in annual closed volume.
• CrossCountry Mortgage: Fast-growing independent mortgage bank competing in the same Top-50 IMB tier with a multi-state branch network, retail loan officer model, and similar emphasis on purchase originations and partner relationships.
• PRMG (Paramount Residential Mortgage Group): Independent mortgage banker operating a national retail and wholesale platform with a comparable product mix (conventional, FHA, VA, specialty) and similar target on relationship-based lending through local branches.
• Guild Mortgage: Mid-size independent mortgage lender with a comparable multi-state branch footprint, full product menu including construction and specialty programs, and similar positioning as a Top-50 U.S. lender.
• Movement Mortgage: Independent mortgage banker with a similarly large retail loan officer network, multi-state presence, and emphasis on purchase mortgage volume and partner (real estate agent) referral channels.

Broad incumbents

• loanDepot: Larger national nonbank mortgage lender offering the same core products (purchase, refi, HELOC, specialty) across all 50 states. Operates retail, wholesale, and consumer-direct channels that overlap with FHM's offerings at greater scale.
• United Wholesale Mortgage (UWM): Largest U.S. wholesale mortgage lender, indirectly comparable as the dominant nonbank competitor in the broker/wholesale channel that sits adjacent to FHM's retail purchase and refi business.
• Rocket Mortgage: Largest U.S. mortgage originator with a consumer-direct digital model competing for the same purchase and refinance demand. Sets the price-discovery benchmark that affects the entire retail mortgage market, including FHM's gain-on-sale margins.
• NewRez (formerly New Penn Financial): National nonbank mortgage company with retail, wholesale, and servicing operations offering overlapping conventional, FHA, VA, and specialty loan products. Comparable to FHM in product breadth and multi-channel approach, but at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/first-heritage-mortgage

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Heritage Mortgage