First Security Bank Mortgage Rates, Fees & Info

Searcy, AR

LEI: 254900561K135J92VD38

Tax ID: 71-0159420

5 stars - out of 5 stars, based on 42 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Security Bank is a smaller bank specializing in loans. First Security Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Little Rock, Fayetteville, Hot Springs, Searcy, and Russellville among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Security Bank 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 Security Bank 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 about average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 3/31/23
    30 Year Conventional Purchase 6.49% 3/31/23
    30 Year Conventional Refi 6.57% 3/31/23
    30 Year Cash-out Refi 6.66% 3/31/23
    30 Year FHA Purchase 7.08% 3/31/23
    30 Year FHA Refi 6.27% 3/31/23
    30 Year VA Purchase 6.00% 3/31/23
    30 Year USDA Purchase 6.33% 3/31/23
    15 Year Conventional Purchase 5.81% 3/31/23
    15 Year Conventional Refi 5.97% 3/31/23
    15 Year Cash-out Refi 5.97% 3/31/23
    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.


    Originations

    1,796

    Origination Dollar Volume (All Markets)

    $372,580,000
    Show all (29) awards

    Relative Rate

    First Security Bank's average 30 year fixed mortgage rate was 4.78%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.02%.

    Relative Fees (Closing Costs)

    First Security Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,839.

    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 $4,750.

    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
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 749 $138,315,000 $184,666 $4,197 5.29%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 249 $50,875,000 $204,317 $3,015 5.57%
    HOT SPRINGS, AR (FHA|USDA|VA) 78 $33,030,000 $423,462 $3,466 5.26%
    Searcy, AR (FHA|USDA|VA) 238 $31,170,000 $130,966 $3,481 5.22%
    Russellville, AR (FHA|USDA|VA) 76 $26,720,000 $351,579 $3,687 4.95%
    Outside of Metro Areas 189 $25,565,000 $135,265 $3,549 5.26%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $20,625,000 $20,625,000 $0 4.50%
    Mountain Home, AR (FHA|USDA|VA) 97 $14,025,000 $144,588 $2,229 5.29%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $10,980,000 $2,745,000 $12,522 5.10%
    JONESBORO, AR (FHA|USDA|VA) 43 $9,865,000 $229,419 $3,251 5.17%
    FORT SMITH, AR-OK (FHA|USDA|VA) 50 $7,430,000 $148,600 $2,693 5.17%
    Malvern, AR (FHA|USDA|VA) 11 $2,455,000 $223,182 $4,017 4.63%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $530,000 $265,000 $0 4.13%
    Batesville, AR (FHA|USDA|VA) 2 $250,000 $125,000 $2,576 4.00%
    Paragould, AR (FHA|USDA|VA) 2 $250,000 $125,000 $6,272 4.88%
    Oxford, MS (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.65%
    Harrison, AR (FHA|USDA|VA) 2 $170,000 $85,000 $0 5.42%
    Arkadelphia, AR (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.75%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.25%
    First Security Bank's top markets include Little Rock, Fayetteville, Hot Springs, Searcy, and Russellville among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)

    • Similar Lenders

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

    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 255
    Farmers Bank & Trust Company
    Similarity Rank: 280
    Truity Federal Credit Union
    Similarity Rank: 408
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 928
    The Farmers & Merchants Bank
    Similarity Rank: 1088
    Generations Bank
    Similarity Rank: 1180
    Baxter Credit Union
    Similarity Rank: 1605
    The First National Bank of Fort Smith
    Similarity Rank: 1617
    Priority Bank
    Similarity Rank: 1860
    Farm Credit Services of Western Arkansas, ACA
    Similarity Rank: 2688

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,124 $288,460,000 $256,637 $3,291 5.00%
    HELOC 524 $56,890,000 $108,569 n/a 6.13%
    FHA 69 $12,215,000 $177,029 $5,789 4.71%
    USDA 60 $9,510,000 $158,500 $3,570 4.24%
    VA 19 $5,505,000 $289,737 $7,694 4.16%

    For 2022, First Security Bank's most frequently originated type of loan was Conventional, with 1,124 originations. Their 2nd most popular type was HELOC, with 524 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 998 $272,750,000 $273,297 $3,777 5.04%
    Other 260 $25,200,000 $96,923 $2,210 6.19%
    Home Improvement 226 $17,590,000 $77,832 $1,025 5.96%
    Refi 218 $37,990,000 $174,266 $3,444 5.08%
    Cash Out Refi 94 $19,050,000 $202,660 $3,366 4.31%

    For 2022, First Security Bank's most frequently cited loan purpose was Home Purchase, with 998 originations. The 2nd most popular reason was Other, with 260 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 630 $140,620,000 $223,206 $3,839 4.78%
    3 Year 579 $59,785,000 $103,256 $0 6.10%
    5 Year 237 $87,965,000 $371,160 $0 5.04%
    Other 139 $37,755,000 $271,619 $1,205 5.42%
    1 Year 115 $21,655,000 $188,304 $2,025 5.52%
    15 Year 74 $16,320,000 $220,541 $3,794 3.88%
    20 Year 14 $4,370,000 $312,143 $4,344 3.99%
    10 Year 8 $4,110,000 $513,750 $5,703 3.47%

    For 2022, First Security Bank's most frequently cited loan duration was 30 Year, with 630 originations. The 2nd most popular length was 3 Year, with 579 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 403 $87,895,000 $218,102
    $1k-2k 127 $19,525,000 $153,740
    $2k-3k 115 $23,525,000 $204,565
    $3k-4k 65 $19,165,000 $294,846
    $5k+ 30 $12,750,000 $425,000
    $4k-5k 27 $9,405,000 $348,333

    First Security Bank's average total fees were $3,839, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 403 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 579 $151,335,000 $261,373
    5-6% 479 $82,435,000 $172,098
    6-7% 270 $39,390,000 $145,889
    3-4% 241 $73,325,000 $304,253
    7-8% 120 $10,480,000 $87,333
    Over 8% 54 $3,970,000 $73,519
    2.5-3% 44 $10,530,000 $239,318
    <2.5% 8 $990,000 $123,750
    % 1 $125,000 $125,000

    During 2022, First Security Bank's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 579 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 651 $35,615,000 $54,708 $2,090 5.74%
    $100k-200k 604 $85,750,000 $141,970 $3,051 5.15%
    $200k-400k 423 $114,605,000 $270,934 $4,312 4.95%
    $400k-600k 68 $32,120,000 $472,353 $5,770 4.79%
    $600k-1MM 33 $23,855,000 $722,879 $5,828 4.37%
    $1MM+ 17 $80,635,000 $4,743,235 $4,174 4.76%

    2022 saw First Security Bank place emphasis on $100,000 or less loans with 651 originations, totaling $35,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 288 $39,310,000 $136,493 $3,445 5.30%
    $100k-150k 282 $54,240,000 $192,340 $4,344 5.33%
    $50k or less 272 $27,810,000 $102,243 $2,621 5.20%
    $150k-250k 235 $46,555,000 $198,106 $4,272 5.48%
    $75k-100k 216 $33,570,000 $155,417 $3,955 5.32%
    $250k+ 95 $31,255,000 $329,000 $4,579 5.30%

    First Security Bank lent most frequently to those with incomes in the $50k-75k range, with 288 originations. The second most popular income band? $100k-150k, with 282 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 373 $56,395,000 $151,193 $3,459 5.50%
    <20% 300 $42,760,000 $142,533 $2,842 5.41%
    30-36% 252 $41,900,000 $166,270 $3,649 5.33%
    37% 56 $11,830,000 $211,250 $4,454 5.13%
    38% 54 $11,020,000 $204,074 $3,506 5.48%
    39% 50 $8,970,000 $179,400 $3,374 5.31%
    36% 46 $7,620,000 $165,652 $3,120 5.07%
    40% 35 $7,155,000 $204,429 $3,786 4.85%
    42% 29 $6,635,000 $228,793 $4,780 4.37%
    41% 29 $6,575,000 $226,724 $3,908 5.31%
    44% 27 $5,015,000 $185,741 $4,004 5.01%
    43% 24 $4,300,000 $179,167 $3,749 4.81%
    45% 22 $4,650,000 $211,364 $3,991 4.98%
    47% 19 $5,285,000 $278,158 $5,361 4.50%
    49% 17 $3,685,000 $216,765 $3,660 4.98%
    50-60% 16 $3,480,000 $217,500 $4,238 5.13%
    48% 14 $2,420,000 $172,857 $3,223 4.30%
    46% 12 $3,020,000 $251,667 $3,934 4.32%
    >60% 3 $535,000 $178,333 $1,791 6.54%

    First Security Bank lent most frequently to those with DTI ratios of 20-30%, with 373 originations. The next most common DTI ratio? <20%, with 300 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,332 $223,380,000 $167,703 $3,628 5.31%
    Not applicable 354 $130,840,000 $369,605 $4,811 5.21%
    Black 51 $7,205,000 $141,275 $3,782 5.85%
    Not provided 34 $6,180,000 $181,765 $4,234 4.78%
    Asian 15 $3,065,000 $204,333 $3,535 5.04%
    American Indian 10 $1,910,000 $191,000 $2,791 4.53%

    Approval Rates

    Total approvals of all applications
    94.46%

    First Security Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.52%

    First Security Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    12.5 1 $45,000 $45,000
    NA 1,795 $372,535,000 $207,540

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,796 $372,580,000 $207,450

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 258 $27,540,000 $106,744 $2,413 5.76%
    40-60% 244 $50,870,000 $208,484 $3,392 5.16%
    60-80% 489 $150,365,000 $307,495 $3,598 5.05%
    80-100% 534 $125,950,000 $235,861 $3,805 4.91%
    Over 100% 14 $4,870,000 $347,857 $10,008 4.47%
    Under 20% 257 $12,985,000 $50,525 $1,182 6.21%

    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%