First State Bank Mortgage Rates, Fees & Info
DECATUR, MILEI: 254900PF1ET8TU7AX329
Tax ID: 38-0541390
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Mortgage Data
Review & Overview
First State Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. First State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kalamazoo, South Bend, Niles, and Holland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)First State Bank has an above average approval rate when compared to the average across all lenders.
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Originations
30Origination Dollar Volume (All Markets)
$4,540,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 21 | $2,475,000 | $117,857 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $4,540,000 | $151,333 | $0 | 0.00% |
For 2023, First State Bank's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
For 2023, First State Bank's most frequently cited loan purpose was Cash Out Refi, with 15 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2023, First State Bank's most frequently cited loan duration was 30 Year, with 12 originations. The 2nd most popular length was 15 Year, with 6 originations.
Loan Sizing
2023 saw First State Bank place emphasis on $100,000 or less loans with 14 originations, totaling $680,000 in origination value.
Applicant Income
First State Bank lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 30 | $4,540,000 | $151,333 | $0 | 0.00% |
First State Bank lent most frequently to those with DTI ratios of Exempt%, with 30 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 27 | $4,355,000 | $161,296 | $0 | 0.00% |
| Not applicable | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Black | 2 | $40,000 | $20,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
First State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 30 | $4,540,000 | $151,333 |