First Bank Mortgage Rates, Fees & Info

Strasburg, VA

LEI: 25490047DXSX2HF6QY47

Tax ID: 54-1713356

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

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Mortgage Data

Review & Overview

First Bank is a smaller bank specializing in Home Purchase and Refi loans. First Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Washington, Winchester, Staunton, and Roanoke among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

272

Origination Dollar Volume (All Markets)

$94,610,000

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
RICHMOND, VA (FHA|USDA|VA) 43 $25,595,000 $595,233 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 42 $15,640,000 $372,381 $0 0.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 51 $12,525,000 $245,588 $0 0.00%
STAUNTON, VA (FHA|USDA|VA) 19 $12,355,000 $650,263 $0 0.00%
Outside of Metro Areas 54 $9,850,000 $182,407 $0 0.00%
ROANOKE, VA (FHA|USDA|VA) 30 $7,000,000 $233,333 $0 0.00%
HARRISONBURG, VA (FHA|USDA|VA) 16 $4,370,000 $273,125 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 6 $2,660,000 $443,333 $0 0.00%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $1,920,000 $960,000 $0 0.00%
Danville, VA (FHA|USDA|VA) 2 $1,310,000 $655,000 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 5 $685,000 $137,000 $0 0.00%
Wilson, NC (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
First Bank's top markets include Richmond, Washington, Winchester, Staunton, and Roanoke among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 272 $94,610,000 $347,831 $0 0.00%

    For 2022, First Bank's most frequently originated type of loan was Conventional, with 272 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 120 $59,610,000 $496,750 $0 0.00%
    Refi 68 $25,010,000 $367,794 $0 0.00%
    Other 33 $3,135,000 $95,000 $0 0.00%
    Cash Out Refi 29 $5,255,000 $181,207 $0 0.00%
    Home Improvement 22 $1,600,000 $72,727 $0 0.00%

    For 2022, First Bank's most frequently cited loan purpose was Home Purchase, with 120 originations. The 2nd most popular reason was Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 272 $94,610,000 $347,831 $0 0.00%

    For 2022, First Bank's most frequently cited loan duration was Other, with 272 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 84 $23,530,000 $280,119 $0 0.00%
    $100k-200k 67 $9,435,000 $140,821 $0 0.00%
    $100,000 or less 65 $3,505,000 $53,923 $0 0.00%
    $400k-600k 27 $13,335,000 $493,889 $0 0.00%
    $600k-1MM 17 $12,945,000 $761,471 $0 0.00%
    $1MM+ 12 $31,860,000 $2,655,000 $0 0.00%

    2022 saw First Bank place emphasis on $200k-400k loans with 84 originations, totaling $23,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 33 $4,375,000 $132,576 $0 0.00%
    $75k-100k 30 $5,580,000 $186,000 $0 0.00%
    $150k-250k 28 $7,440,000 $265,714 $0 0.00%
    $100k-150k 27 $5,085,000 $188,333 $0 0.00%
    $250k+ 26 $13,800,000 $530,769 $0 0.00%
    $50k or less 22 $2,170,000 $98,636 $0 0.00%

    First Bank lent most frequently to those with incomes in the $50k-75k range, with 33 originations. The second most popular income band? $75k-100k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 272 $94,610,000 $347,831 $0 0.00%

    First Bank lent most frequently to those with DTI ratios of Exempt%, with 272 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 104 $55,580,000 $534,423 $0 0.00%
    White 143 $31,955,000 $223,462 $0 0.00%
    Not provided 15 $2,805,000 $187,000 $0 0.00%
    Asian 3 $2,735,000 $911,667 $0 0.00%
    Black 4 $930,000 $232,500 $0 0.00%
    Other Pacific Islander 1 $255,000 $255,000 $0 0.00%
    American Indian 1 $185,000 $185,000 $0 0.00%
    Chinese 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.87%

    First Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.35%

    First Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 272 $94,610,000 $347,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    272 $94,610,000 $347,831

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%