First Option Bank Mortgage Rates, Fees & Info
Osawatomie, KSLEI: 254900IHGFQJY2WUC891
Tax ID: 48-0359685
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Option Bank is a smaller bank specializing in Home Purchase and Refi loans. First Option Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, St. Joseph, Ottawa, Atchison, and Topeka among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)First Option 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.
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Originations
200Origination Dollar Volume (All Markets)
$58,600,000Top 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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 154 | $50,450,000 | $327,597 | $0 | 0.00% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 22 | $3,460,000 | $157,273 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $2,120,000 | $212,000 | $0 | 0.00% |
| Ottawa, KS (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $0 | 0.00% |
| Atchison, KS (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Emporia, KS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Branson, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 200 | $58,600,000 | $293,000 | $0 | 0.00% |
For 2022, First Option Bank's most frequently originated type of loan was Conventional, with 200 originations.
Loan Reason
For 2022, First Option Bank's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 46 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 200 | $58,600,000 | $293,000 | $0 | 0.00% |
For 2022, First Option Bank's most frequently cited loan duration was Other, with 200 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 3 | $805,000 | $268,333 |
During 2022, First Option Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 3 originations.
Loan Sizing
2022 saw First Option Bank place emphasis on $200k-400k loans with 70 originations, totaling $19,920,000 in origination value.
Applicant Income
First Option Bank lent most frequently to those with incomes in the $100k-150k range, with 52 originations. The second most popular income band? $150k-250k, with 47 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1 | $95,000 | $95,000 | $0 | 0.00% |
First Option Bank lent most frequently to those with DTI ratios of <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.44%
First Option Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.50%
First Option Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 200 | $58,600,000 | $293,000 |
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% |