First Bankers Trust Company Mortgage Rates, Fees & Info

Quincy, IL

LEI: 2549003SD8SH7JXN6S72

Tax ID: 37-0622729

5 stars - Updated: 10/13/24 - out of 5 stars, based on 15 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

First Bankers Trust Company is a smaller bank specializing in Home Purchase loans. First Bankers Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Quincy, Kansas City, St. Louis, Breckenridge, and New Castle among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Bankers Trust Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Bankers Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 10/13/24
30 Year Conventional Purchase 6.56% 10/13/24
30 Year Conventional Refi 6.58% 10/13/24
30 Year Cash-out Refi 6.56% 10/13/24
30 Year USDA Purchase 7.13% 10/13/24
15 Year Conventional Purchase 6.19% 10/13/24
15 Year Conventional Refi 6.05% 10/13/24
15 Year Cash-out Refi 6.05% 10/13/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

First Bankers Trust Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Bankers Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

230

Origination Dollar Volume (All Markets)

$67,420,000

Awards

First Bankers Trust Company 30 Year Conventional Loans gold First Bankers Trust Company 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

First Bankers Trust Company's average 30 year fixed mortgage rate was 6.7%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.22%.

Relative Fees (Closing Costs)

First Bankers Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $1,765.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Quincy, IL-MO (FHA|USDA|VA) 136 $17,820,000 $131,029 $1,518 6.98%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $9,375,000 $3,125,000 $0 7.13%
ST. LOUIS, MO-IL (FHA|USDA|VA) 10 $5,590,000 $559,000 $0 7.48%
Breckenridge, CO (FHA|USDA|VA) 1 $5,585,000 $5,585,000 $0 7.75%
New Castle, IN (FHA|USDA|VA) 2 $4,880,000 $2,440,000 $0 8.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $3,675,000 $3,675,000 $0 7.25%
MUNCIE, IN (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $0 8.50%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $2,705,000 $2,705,000 $0 7.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $2,595,000 $865,000 $4,703 8.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $2,450,000 $612,500 $0 7.98%
Outside of Metro Areas 16 $2,430,000 $151,875 $1,828 7.10%
Macomb, IL (FHA|USDA|VA) 19 $1,625,000 $85,526 $2,134 7.47%
Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 11 $1,265,000 $115,000 $1,677 6.64%
Hannibal, MO (FHA|USDA|VA) 5 $1,105,000 $221,000 $1,617 7.60%
Marshalltown, IA (FHA|USDA|VA) 2 $790,000 $395,000 $0 6.89%
Fairfield, IA (FHA|USDA|VA) 1 $585,000 $585,000 $0 7.35%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $530,000 $265,000 $3,632 7.06%
SPRINGFIELD, IL (FHA|USDA|VA) 4 $510,000 $127,500 $2,439 8.09%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $215,000 $215,000 $2,579 7.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,040 6.25%
Jacksonville, IL (FHA|USDA|VA) 2 $150,000 $75,000 $2,598 7.50%
DECATUR, IL (FHA|USDA|VA) 1 $145,000 $145,000 $2,106 6.00%
Lincoln, IL (FHA|USDA|VA) 1 $105,000 $105,000 $1,652 6.13%
PEORIA, IL (FHA|USDA|VA) 2 $100,000 $50,000 $1,826 8.00%
First Bankers Trust Company's top markets include Quincy, Kansas City, St. Louis, Breckenridge, and New Castle among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First Bankers Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HomeBank
    Similarity Rank: 52
    First Bankers Trust Company
    Similarity Rank: 96
    Morton Community Bank
    Similarity Rank: 105
    United Community Bank
    Similarity Rank: 315
    Mortgage Research Center, LLC
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    FLAT BRANCH MORTGAGE, INC.
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    CROSSCOUNTRY MORTGAGE, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 222 $66,650,000 $300,225 $1,603 7.12%
    USDA 6 $590,000 $98,333 $3,335 6.96%
    HELOC 2 $180,000 $90,000 n/a 8.38%

    For 2023, First Bankers Trust Company's most frequently originated type of loan was Conventional, with 222 originations. Their 2nd most popular type was USDA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 165 $52,805,000 $320,030 $1,795 7.06%
    Cash Out Refi 37 $10,675,000 $288,514 $1,374 7.33%
    Refi 24 $3,250,000 $135,417 $1,237 7.15%
    Home Improvement 4 $690,000 $172,500 $1,620 8.14%

    For 2023, First Bankers Trust Company's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Cash Out Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 140 $20,410,000 $145,786 $1,765 6.70%
    5 Year 56 $31,030,000 $554,107 $511 7.96%
    Other 12 $13,280,000 $1,106,667 $1,110 7.84%
    15 Year 11 $1,385,000 $125,909 $1,425 6.78%
    10 Year 4 $190,000 $47,500 $744 7.84%
    20 Year 3 $495,000 $165,000 $1,576 7.96%
    1 Year 2 $180,000 $90,000 $0 8.38%
    3 Year 2 $450,000 $225,000 $0 7.68%

    For 2023, First Bankers Trust Company's most frequently cited loan duration was 30 Year, with 140 originations. The 2nd most popular length was 5 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 161 $22,255,000 $138,230
    $1k-2k 7 $645,000 $92,143

    First Bankers Trust Company's average total fees were $1,765, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 161 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 79 $21,045,000 $266,392
    7-8% 75 $26,515,000 $353,533
    Over 8% 41 $16,105,000 $392,805
    5-6% 34 $3,650,000 $107,353
    4-5% 1 $105,000 $105,000

    During 2023, First Bankers Trust Company's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 94 $5,300,000 $56,383 $1,519 7.29%
    $100k-200k 71 $9,455,000 $133,169 $1,675 6.73%
    $200k-400k 38 $10,030,000 $263,947 $1,946 7.17%
    $1MM+ 12 $34,250,000 $2,854,167 $0 7.81%
    $400k-600k 10 $4,740,000 $474,000 $1,935 7.11%
    $600k-1MM 5 $3,645,000 $729,000 $0 7.78%

    2023 saw First Bankers Trust Company place emphasis on $100,000 or less loans with 94 originations, totaling $5,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 51 $3,735,000 $73,235 $1,612 6.65%
    $50k-75k 41 $4,065,000 $99,146 $1,649 6.91%
    $100k-150k 40 $7,260,000 $181,500 $1,633 7.21%
    $75k-100k 25 $2,935,000 $117,400 $1,680 6.80%
    $150k-250k 12 $3,210,000 $267,500 $2,064 7.27%
    $250k+ 10 $2,360,000 $236,000 $1,560 7.47%

    First Bankers Trust Company lent most frequently to those with incomes in the $50k or less range, with 51 originations. The second most popular income band? $50k-75k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $6,625,000 $147,222 $1,802 6.73%
    30-36% 42 $5,370,000 $127,857 $1,733 6.88%
    <20% 24 $2,900,000 $120,833 $1,549 6.78%
    40% 10 $1,420,000 $142,000 $1,468 6.79%
    42% 9 $785,000 $87,222 $1,596 6.57%
    39% 6 $550,000 $91,667 $1,428 6.94%
    38% 6 $630,000 $105,000 $1,691 7.10%
    43% 6 $1,300,000 $216,667 $2,254 7.23%
    36% 5 $505,000 $101,000 $1,192 7.13%
    45% 3 $505,000 $168,333 $1,599 7.17%
    44% 3 $725,000 $241,667 $1,600 6.50%
    46% 3 $525,000 $175,000 $1,532 6.92%
    47% 2 $410,000 $205,000 $1,815 7.56%
    41% 2 $580,000 $290,000 $1,522 7.38%
    50-60% 2 $60,000 $30,000 $876 7.38%
    37% 2 $160,000 $80,000 $1,631 6.38%
    48% 1 $105,000 $105,000 $1,759 6.00%
    >60% 1 $25,000 $25,000 $969 9.13%
    49% 1 $35,000 $35,000 $969 7.75%

    First Bankers Trust Company lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 40 $41,770,000 $1,044,250 $0 7.74%
    White 172 $22,950,000 $133,430 $1,660 6.97%
    Not provided 8 $1,570,000 $196,250 $1,649 7.94%
    Asian 4 $580,000 $145,000 $1,840 6.97%
    Black 6 $550,000 $91,667 $1,681 6.67%

    Approval Rates

    Total approvals of all applications
    94.83%

    First Bankers Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.26%

    First Bankers Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 230 $67,420,000 $293,130

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    230 $67,420,000 $293,130

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,265,000 $151,000 $1,101 7.44%
    40-60% 18 $7,910,000 $439,444 $1,633 7.06%
    60-80% 81 $29,035,000 $358,457 $1,711 7.10%
    80-100% 99 $23,515,000 $237,525 $1,822 6.96%
    Over 100% 1 $135,000 $135,000 $0 8.00%
    Under 20% 16 $4,560,000 $285,000 $878 8.06%